For China it is the year of the tiger. For its equity market, it has been a dog. Even as the economy grew strongly, pushing commodities to new highs, the Shanghai Composite index tumbled 11.4 per cent.
Capital controls make it hard for foreign investors to access the domestic A-share market. Fund managers tap political connections to win the coveted right to trade A-shares. Yet, this year has been better for those who could not get in.
The A-shares with dual Hong Kong listings are down 16 per cent for the year, according to the Hang Seng A/H index; H-shares are up about 1 per cent.
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