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China s top stock funds trashed by US$111B Moutai wipeout Sofia Horta e Costa, Bloomberg News An employee arranges bottles of Moutai baijiu at the Kweichow Moutai Co. factory in the town of Maotai in Renhuai, Guizhou province, China, on Thursday, Dec. 14, 2017. Moutai baijiu s fiery flavor and potential to appreciate in price is driving blistering demand. That in turn has pushed its market value to more than $145 billion, well past British whisky giant Diageo Plc. Photographer: Qilai Shen/Bloomberg , Bloomberg The most popular stock trade in China is unraveling, tarnishing the reputations of some of the countryâs most successful money managers and undermining the outlook for the worldâs second-largest equity market. ....
The most popular stock trade in China is unraveling, tarnishing the reputations of some of the country’s most successful money managers and undermining the outlook for the world’s second-largest equity market. ....
The Globe and Mail Chris Flood Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer ALY SONG/Reuters Assets under management in China’s mutual fund industry surged 48 per cent to a record US$3.1-trillion in 2020, but huge demand for new funds is stoking fears that volatile investor inflows could spur a stock market bubble. China is expected to develop into the world’s second-largest asset management market after the U.S. this decade, providing a huge growth opportunity for investment managers. ....
By Reuters Staff 2 Min Read SHANGHAI, Jan 19 (Reuters) - A Chinese mutual fund attracted a record $37 billion worth of investor subscriptions on the first day of sales, state media reported, reflecting Chinese retail fever toward stocks. E Fund Management Co launched the fund on Monday and raised 237 billion yuan ($36.6 billion) in subscription money, nearly 16 times its fundraising cap of 15 billion yuan, official Securities Times reported on Tuesday, citing sales channels. E Fund said official data will be released soon, without giving figures. The demand reflects Beijing’s success in boosting investor confidence in capital markets following a series of reforms, and points to more momentum in China’s bull run that saw the bluechip CSI300 index jump 27% in 2020. ....