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Rising market drives Chinese investors into a frenzy despite many warnings

The Shanghai index broke the psychologically significant level of 3,000 points last Monday, then crashed 5.43 per cent on Tuesday after authorities tightened the use of corporate bonds as collateral for short-term financing.


HUNDREDS of thousands of investors are piling into China's stock market on the back of a spectacular rally, driving up prices in a borrowing-fuelled frenzy despite warnings of heightened risks.

The benchmark Shanghai Composite Index was sent skywards by a surprise interest