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SHANGHAI STOCKS AT 4,000

Mike Bird   

SHANGHAI STOCKS AT 4,000
Finance1 min read

The Shanghai Composite Index (China's main stock index) just briefly hit 4,000 for the first time since 2008, after a massive climb in the last 12 months.

A year ago the index was hovering barely above 2,000 this time last year. It's exploded despite China's property market slowing down

Here's how it looks:

Shanghai stocks

Investing.com, Business Insider

The surge has coincided with China's property market stalling - and domestic investors moving into shares rather than housing.

But that brings its own problems. According to recent research, 6% of the newest stock market investors in China can't read.

Here's what the Shanghai Composite looks like over a longer time-frame. It's easy to see what happened when the financial crisis hit.

Shanghai Composite

Investing.com

So there's still a long to go to get to those previous levels.

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