结局终将是痛苦的，不是吗？

    10月底以来，中国股市回升了32%，如此增长实在有些让人看不懂。因为与此同时，越来越多的证据表明，中国金融部门压力不小，而中国经济也在放缓。本周一公布的进出口贸易数据极为疲软，再次凸显了中国经济的放缓。

    本周一，上证综合指数（The Shanghai Composite index）继续上涨，涨幅2.9％，自2010年年初以来，首次收于3000点以上。仅在上周，该指数就上涨了9.5％。上周五，中国证监会新闻发言人在新闻发布会上表示，希望广大投资者“尊重市场、敬畏市场……不要盲目跟风炒作”。

    Surely this has to end in tears, doesn’t it?

    China’s stock market is not so much defying gravity as defying logic, after a dizzying 32% rally since the end of October. That’s despite increasing evidence of stress in the financial sector and a slowing economy, the latter underlined again Monday by some shockingly weak trade data.

    The Shanghai Composite index rose another 2.9% Monday to close above 3,000 for the first time since early 2010. It had risen 9.5% last week alone, in a week that ended with a spokesman for China’s equivalent of the SEC pleading at a press conference for investors to “respect the market, fear the market and…not blindly follow the trend of speculation.”