"New share sales by 23 companies in the five days through June 5 were forecast to attract 4.9 trillion yuan of bids, a Bloomberg survey showed. Shares of the 144 firms that went public this year have jumped an average 539 percent so far, including a 44 percent increase on the first day of trading, the maximum amount allowed by local bourses.
While Bill Gross, who oversees an unconstrained bond fund for Janus Capital, declared on Twitter June 3 that shares on the Shenzhen index are the next big trade for short sellers, China’s state media showed support for the stock market. The bull run won’t change and any adjustments will support further development, Xinhua News Agency said in an editorial May 28. The People’s Bank of China has reduced its benchmark one-year lending rate three times since November and lowered reserve ratios twice this year, adding to the stock boom."
Chinese Emboldened by 150% in Stock Returns Ignore Bonds
is my attempt to share (via this website as well as twitter) relevant finance stories from Asia that I find interesting (on a daily basis).