SINCE the day China loosened access to its stocks in November, the Shanghai Composite Index has soared 26 per cent as the rest of the world's markets stood still. Rather than attract overseas buyers, it's repelling them.
While individuals in China are opening the most equity trading accounts since 2007, professionals such as Tai Hui, the chief Asia market strategist at JPMorgan Asset Management, warn the advance has gone too far, too fast.
"When you have a rollercoaster ride like that, you don't quite know where to jump on or where to jump off," said Mr Hui, whose firm manages US$1.7 trillion. "This kind of volatility does not help the stock connect. It actually makes people want to just...