China's Stock Markets Open Higher, Overcoming 'Minsky Moment' Concerns
Xu Wei
DATE:  Oct 23 2017
/ SOURCE:  Yicai
China's Stock Markets Open Higher, Overcoming 'Minsky Moment' Concerns China's Stock Markets Open Higher, Overcoming 'Minsky Moment' Concerns

(Yicai Global) Oct. 23 -- China's main stock markets opened slightly higher on Monday, driven by logistics shares that performed well at the early opening.

The Shanghai Composite Index gained 0.11 percent at 3,382.28 points at the open.

The Shenzhen Component Index inched up 0.01 percent at 11,239.69 points.

The Growth Enterprise Index rose 0.06 percent to 1,881.41 points.

The early rebound in China shares indicates the markets have overcome "Minsky moment" concerns as referred to by Zhou Xiaochuan, PBOC governor. Analysts point out that Zhou's reference was only a possible scenario as part of a forward-thinking analysis of the markets rather than being a present reality. Named after economist Hyman Minsky, a "Minsky moment" refers to a sudden collapse of asset prices after a lengthy period of rise.

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Keywords:   Shanghai Composite Index,Shenzhen Component Index,Growth Enterprise Index,A-Shares