China keeps coming into my social media feed thanks to the rally there.
It’s a move driven by tech shares. Could be a short-term pullback in the making. Or a monster breakout if the lunatic bulls shift into beaten down Chinese shares. China’s regulatory crackdown on their Big Tech companies is in hindsight. These stocks are generally trading around half the valuation of U.S. Big Tech stocks. As always, click on any chart for a bigger view to clearly see the symbol and name.
China’s mainland market isn’t showing the same perky chart. M2 growth was also surprisingly low in April. Not a fast enough data point to impact stocks today, but maybe a hint that this won’t be as smooth an ascent as it looks.
