Shenzhen index's rise 'like a chain letter'

Fund manager Bill Gross, who in April said a bet against German bunds is the "short of a lifetime", said the next new opportunity is wagering against Chinese stocks.

Gross's bet against bunds is now "happening", he wrote in a Twitter message on Wednesday. "Up next: the China Shenzhen index. Not just yet ..."

The Shenzhen Component Index has surged more than 100 percent this year as the benchmark stock market experiences the world's biggest rally amid a flood of initial public offerings and record amounts of new investors.