CSRC reports fuel ChiNext ‘bubble’ fears
China's securities regulator has warned mutual funds to reduce their exposure to Shenzhen's ChiNext stocks, according to media reports. The allegations have highlighted the board's explosive growth this year.
Reports that China’s regulator is urging mutual funds to stay away from surging prices on the ChiNext board are reflecting market fears over valuations, analysts said.
With prices on the Shenzhen-based high-growth board having doubled in value this year, regulatory talk of a bubble spooked investors over the weekend.
But thanks to China cutting interest rates on Sunday, market euphoria over the easing pushed up ChiNext prices to a new high yesterday.
The China Securities Regul…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.