Shares levitate on torrent of cash as investors ignore risks

Oblivious to the increasing risk of being caught in a bursting bubble, investors continued to pile into the red-hot stock market on Wednesday, sending the benchmark Shanghai Composite Index to yet another seven-year high.

Both the Shanghai and Shenzhen markets rose sharply, with more than 150 shares surging by the 10 percent daily trading limit.

The Shanghai index jumped 2.44 percent to 4,398.49 points, after a short-lived correction on Monday.