Chinese Markets in Crisis as $6 Trillion Vanishes in Recent Rout
• Chinese stocks have had another terrible week, with $6.3 trillion wiped off market value since 2021 peak • Indicators like Tokyo overtaking Shanghai market size and India's valuation premium signal crisis of confidence • Ongoing property sector woes, deflationary pressures, US-China tensions weighing down markets • Stimulus policies so far unable to turn around fundamentals; investors playing "waiting game" • Premier Li Qiang touts 5% growth for 2023 without "massive stimulus", but skepticism abounds