Chinese rally - too far, too fast?
As China's boom surpasses the headiest days of the U.S. Internet bubble, signs of excess are cropping up everywhere.
Mainland speculators have borrowed a record $348B to bet on further gains, price-to-earnings ratios have climbed to the highest levels in five years, while Chinese exchanges have created $6.5T in just 12 months of trading. The economy, meanwhile, is mired in its weakest expansion since 1990.
Chinese shares face their next big test later today, when MSCI decides whether mainland securities are eligible for indexes used by $9.5T of funds around the world.
Earlier: China reports more soft readings (Jun. 09 2015)
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