China’s equity markets are notoriously volatile. But in recent days they have been especially so. After tumbling 4 per cent on Tuesday, Shanghai stocks are now down almost 9 per cent in the past three trading sessions. Investors across the world are taking note.
The wave of selling comes amid growing fears that inflation is getting out of control in China and will require a sharp response from the government.
“The key concern, and the reason the market sold off, is that inflation – particularly food inflation – is proving stronger than expectations. This is something that really worries Communist politicians,” says Chris Ruffle, a fund manager at Martin Currie in Shanghai.
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