China’s stock market is on pace for its best year in almost a decade, boosted by soaring demand for AI and technology stocks.
The MSCI China index has risen nearly 30% this year, outpacing the S&P 500 index of US stocks by the widest margin since 2017, Bloomberg reported.
However the travails of some of China’s biggest companies including real estate developers have weighed on the market, while deflationary pressure may dampen future growth.
Elsewhere, equities have been lifted by investors pivoting away from the US stock market amid fears there of excessive valuations, and an over-exposure to the tech sector. A well-regarded global stock index has risen 29% this year, almost double the S&P 500.
