We've all seen Chinese stocks explode in the last year [3]; we've all seen margin lending soar [4] to fund this exuberance; we've all read the dominant buyer in this trading frenzy is high-school-educated housewives [5]; and we've all seen the analogs to the 2000 dotcom bubble. But, we guarentee you have never - ever - seen anything like this...
The number of new A-Share accounts opened just last week was a mind-boggling 3.25 million!!! That is double the number opened in the peak euphoria stage of the 2007 bubble...
[6]
This wil not end well...
[7]
and end it will - one way or another, tonight's rumor about a possible transaction tax (later denied by the CSRC) seems to have spooked more than a few...
[8]
Charts:Bloomberg
