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Updated Wednesday, October 3, 2007 0:00 am TWN, AP

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Shanghai equities market has all the characteristics of a bubble, ex-Fed says

LONDON -- The Shanghai stock market has all the hallmarks of a bubble, former U.S. Federal Reserve Chairman Alan Greenspan said Monday.

“The Shanghai market has got all the characteristics of a bubble,” Greenspan said in a public talk here to promote his new book. “If you ever wanted to get a definition of a bubble in the works, this is it.”

The Shanghai Composite Index jumped 45 percent over the third quarter, one of the strongest performances among global equity markets during that period.

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