Shanghai Stocks Hit 10-Year High While Hong Kong Crypto ETFs Sink

Shanghai’s benchmark index surged to its highest close in a decade on Monday, as Chinese investors piled into energy, gold, and defense stocks in the wake of the Iran conflict — further underscoring why Chinese capital continues to flow away from crypto markets. The rally, combined with Beijing’s tightening grip on domestic liquidity ahead of this week’s National People’s Congress, narrows the already slim chances that Chinese capital will find its way into crypto anytime soon. A Tale of Two Markets The Shanghai Composite Index closed up 0. 5% at 4,182 source: https://beincrypto.com/shanghai-stocks-hit-10-year/