China’s great 2015 crash fades from view

In a year that saw the biggest-ever destruction of Chinese stock-market value, investors who held onto the nation’s shares have actually done pretty well.

The Shanghai Composite Index has rallied 13% in 2015, five times the average annual advance over the previous five years and crushing the MSCI All-Country World Index, which slumped 5%.

The measure spent all but 18 weeks of the year in a bull market, and about six companies have gained for each that fell.