China's $100 Billion-a-Day Stock Moves Show Growing Trader Angst

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Chinese stocks haven’t been this volatile in years as traders struggle to decide whether the $6 trillion market has bottomed out, Bloomberg News reported. Buffeted by crosscurrents ranging from the trade war and rising defaults to monetary stimulus and cheapening valuations, the Shanghai Composite Index has recorded seven straight swings of 1 percent or more -- the longest such stretch since Chinese markets crashed in 2015. Intraday moves in the index have grown the most extreme in 30 months, while the country’s market capitalization fluctuated by at least $97 billion for six consecutive trading sessions through Wednesday. The rollercoaster ride continued on Thursday as the Shanghai Composite jumped 1.8 percent, the biggest gain worldwide, on news that regulators plan to reduce barriers for foreign stock investors. Read more.