Aug. 25 at 12:26 AM
$BZUN
A gauge of Shanghai-listed stocks closed at its highest level in a decade, as cash-rich local investors plow into a market that has surged amid easing trade tensions with the US.
The rally reflects a rising sense of optimism among small investors, flush with near record-high savings and increasingly rotating out of bonds. Those investors were scarred a decade ago, when a precipitous stock market crash led Beijing to unleash state-backed funds to prop up share prices and left a bitter memory for many investors
