China's frothy stock market, subsequent correction—and its recent rebound—may have some investors scratching their heads and wondering if they should try to play its roller coaster.
The Shanghai Composite has spiked 90 percent in the past year, despite a meltdown that started in mid-June. The market ended higher in the last two days of trading, thanks to regulatory support from Beijing.
However, emerging market expert Ruchir Shamra has two words for investors: Stay away.
"In some ways it is the most extreme bubble I've seen in the last 20 or 30 years because there is no fundamental basis for this massive rally to take place given how weak the Chinese economy is and given the amount of margin debt, which has been accumulated in such a short span of time," the head of emerging markets for Morgan Stanley Investment Management said in a recent interview with CNBC's "Closing Bell." (Tweet This)