Hong Kong
AS THE usual drivers of economic growth have faltered in China, the stock market euphoria has helped pick up the slack, with a slate of businesses feeding off the frenzy.
But as the market cools, the Chinese economy is losing a major boost, adding pressure on the government to take further action.
"Definitely, it can't last," said Julian Evans-Pritchard, a China economist at Capital Economics, referring to the stock market's lift to the country's growth. "It's not sustainable." The stock market rise was fast and furious. At their peak in mid-June, China's main share indexes, for the Shanghai and Shenzhen exchanges, had more than doubled over the course of a year.
"What stands out in China's...
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