China Citic Bank Corp. sold $5.4 billion of stock ($1.7 billion in Shanghai $3.7 billion in Hong Kong) in the world's biggest offering this year, to step up lending and fuel the fastest economic growth in a decade.
Government efforts to cool the economy and avert asset-price bubbles have failed to stem speculation that caused stocks to triple in the past year.
Does anyone remember the Asian Tigers and their Frankenstein of over-investment?
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