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February 26, 2004

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Cups overflowing

The powers that be at the HK Securities Commission are starting to get worried about the China stockmarket bubble that is spilling over into Hong Kong. The Standard reports

The Securities and Futures Commission is warning that the recent frenzied spate of initial public offerings is in danger of kicking off a bout of irrational exuberance for the SAR's retail investors.

To prove its point, the regulator says more than four of every 10 of the 177 IPOs brought to market in the past two years failed to deliver even mediocre returns for first-day traders.

This was actually brought to the public by "Dr. Wise", a fictional cartoon character who publishes a monthly column on the SFC's website.

When cartoons are telling you to sell, you'd better listen.

 posted by Simon on 02.26.04 at 08:29 AM in the




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