Turnover could signal peak for Shanghai stocks

Market strategist says investor 'euphoria' has driven valuations too high and warns that a tumble may loom, reports Bloomberg.

The surge in Chinese equity trading that coincided with market peaks in 2009 and 2010 is back again after the Shanghai Composite Index jumped to a three-year high.

The 30-day average daily value of shares changing hands on the Shanghai Stock Exchange exceeded 200 billion yuan ($32.6 billion) for the first time in four years on Tuesday, according to Bloomberg data.