China’s Market Value Overtakes Japan as World’s No. 2

July 16 (Bloomberg) -- China overtook Japan as the world’s second-largest stock market by value for the first time in 1 1/2 years, after government stimulus spending and record bank lending boosted share prices this year.

The Shanghai Composite Index rose 1.4 percent to 3,188.55 yesterday, sending the value of China’s domestic stock market to $3.21 trillion, compared with Japan’s $3.20 trillion. The Shanghai index has gained 75 percent this year, the best- performing major market, against a 7 percent advance in the Nikkei 225 Stock Average. The U.S. remains the world’s biggest stock market with a capitalization of $10.8 trillion. (more)