Chinese mom-and-pop investors are stampeding into the stock market for fear of missing out on the bull run, with more than 1.6 million share trading accounts newly opened in December, doubling from a year earlier, latest data shows.
China's benchmark CSI300 Index is flirting with record highs as the government seeks to channel household money into stocks to fund innovation, while curbing investment in real estate. Meanwhile, Chinese exuberance is overflowing into Hong Kong, as mainland inflows into the city's stocks under the Connect scheme hit a record HK$26.6 billion on Tuesday.