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China's financial regulator announced a «bubble» in global stock markets


March, 02 2021
watermark Economic news

The China Banking and Insurance Supervision and Control Committee (CBIRC) said the rally in the US and other stock markets resembles a «bubble» and will eventually move to a correction. The head of the committee, Guo Shuqing, also noted that the American and European markets are moving in the opposite direction compared to the economy.


CBIRC comments did not support sentiment on the Hong Kong stock exchange, and Hong Kong's Hang Seng Index fell 1.2% on Tuesday. Moreover, experts believe that such statements may create even greater concern about the further tightening of China's monetary policy.


The regulator also announced a «bubble» in the real estate market in China itself. This is because many people buy houses for investment or speculative purposes, which is «very dangerous.»


The economic recovery, a surge in lending and fears of missing out on buying a home have boosted demand for real estate in major Chinese cities. As a result, the authorities have retaliated, including a new mortgage lending facility. Despite this, housing prices in the secondary market, which is less regulated by the state, jumped in January to a maximum in a year and a half.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.