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Hanergy Contagion Sparks Chinese Investor Rotation From Shenzhen “Ponzi” To Shanghai “Safety”
Sunday, May 24, 2015 20:10
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It appears the reality that we exposed in all its unbelievable ponzi-ness has filtered into the psyche of Chinese investors.. though ever so gently for now. Hanergy’s self-dealing self-referential loans collateralized by stock and Goldin financial’s farcical flop, along with 500% return year-to-date stocks by the dozen, has sparked some selling with CHINEXT down around 4%, Shenzhen down 1-2% (both heavily dominated by these high-flying idiot-maker stocks) while Shanghai Composite and CSI-300 (China A-Share proxy) is bid…
because why wouldn’t you greatly rotate to the index that is only up 47% YTD and not 92%?
Charts: Bloomberg
Source: http://silveristhenew.com/2015/05/24/hanergy-contagion-sparks-chinese-investor-rotation-from-shenzhen-ponzi-to-shanghai-safety/
