COLUMNISTS Since Barack Obama was elected US president in November, stocks have witnessed a triumph for the audacity of hope. But hope won in China, not the US.
Since November 4, China’s Shanghai Composite index has outperformed the US S&P 500 by a cool 75 per cent. November’s announcement of an economic stimulus package helped start the rally. In recent days, data showing revived economic activity, and official hints of another stimulus, have buoyed it further.
