Regulatory changes arenÆt always bad
Western fund managers donÆt like recent government moves to perk up the A-share market, but Chinese observers argue the trend is right.
ôThis is a complete step backward for the market and shows how all the fine words of the past few years were all hot air,ö is how Fraser Howie, CLSAÆs China capital markets specialist, characterised recent moves by the Chinese government to revive the flagging stockmarket.
Mixing metaphors as boldly as he invariably criticises the governmentÆs policies, Howie is referring to the regulatorÆs decision to make companies sell large quantities of shares through block trades, rather than trickle them...
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