How the Chinese stock market hit another high, but won’t go to the moon

China has hit another new high on Friday, with the benchmark Shanghai Composite hitting an all-time high of 4,872.15 points and the Shenzhen Composite at 4,632.65 points. 

The index of China’s benchmark index of 100-stock-index futures rose 4.65% to 4,702.07 points.

It was the first gain in three days for the Shanghai Composite, which was last above 4,000 points on December 20. 

However, the S&P 500 fell 0.7% to 1,831.04 points, the Nasdaq Composite dropped 0.4% to 5,879.24 points and Dow Jones Industrial Average shed 0.3% to 19,039.91 points.

On Friday, the Chinese Stock Exchange (CSE) recorded its biggest ever gain, rising 2.7%. 

The CSE has recorded a gain of 12.9% in the past five sessions. 

Shenzhen, the country’s third-largest city by population, rose 1.3%, while Shanghai, a major port, rose 2.3%. 

On Thursday, the Shanghai Stock Exchange registered its first quarterly gain in more than three years, rising 1.2%.

The S&p 500 and Nasdaq are up 9.3 and 4.5% respectively.