Saturday, May 19, 2007
HSBC Seriously Worried About China Bubble
The Standard: HSBC rings stock market warning bells
"The situation in Hong Kong is not any better, with retail investors coming to us [fund managers] asking for numbers [stock codes] all the time without even bothering to know what the companies' names are." HSBC executive director Peter Wong Tung-shun during a radio show.
Posted by nearly30 @ 10:09 AM (170 views) Add Comment
3 Comments
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1. sold 2 rent 1 said...
Here is another account of the madness
Casino Royale, China and the ghosts of 1929
http://www.safehaven.com/article-7570.htm
2. harold said...
This is the reason why the Dow and FTSE are continuing their inexorable climbs. When China falters, however, London and NY will plunge. We still have a little further to go before shorting IMHO. All eyes are on China – at the first sign of trouble, investors will take very aggressive market positions. It's a game of 'chicken' really.
3. nearly30 said...
harold - spot on - last time there was a wobble - DOW was 12500 and dropped to just above 12000 - and this was only Mar 2007 - some 10 weeks ago.
Now the DOW is 13555 - good God!!!! How is that not overheated considering the economic data coming out of the US.
FTSE - 6400 dropped to 6000 in Mar 2007 - now riding high at 6640 - may look better - but we haven't been through our 'Sub Prime' scandal yet.