2015年7月9日 星期四

Chinese indices are removed from reality James Mackintosh 公安救得了中國夢嗎?


Chinese indices are removed from reality


China’s market is broken. Not the way the New York Stock Exchange broke for four hours on Wednesday. It is broken because the indices everyone uses to measure the market are entirely disconnected from what’s actually happening.

More on this story: http://on.ft.com/1UFw48L




Before it met a violent end last month, China’s stockmarket rally was more than just your run-of-the-mill mania. It was political. Many investors called it a “state bull market”, believing the government was firmly in control, guaranteeing that shares would only go up. Buying stocks “is buying the Chinese dream”, proclaimed a top brokerage. The plunge of nearly one third over the past four weeks has left the dream in tatters http://econ.st/1D1FGQ3


China learns that stocks are beyond the Communist Party’s control
ECON.ST

沒有留言: