{"id":12758,"date":"2009-11-02T10:15:16","date_gmt":"2009-11-02T14:15:16","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=12758"},"modified":"2009-11-02T10:15:16","modified_gmt":"2009-11-02T14:15:16","slug":"small-and-imperfectly-formed","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2009\/small-and-imperfectly-formed.html","title":{"rendered":"Small and imperfectly formed"},"content":{"rendered":"<p>Business Standard &#8211; China\u2019s wannabe Nasdaq: China\u2019s new growth-stock market has made quite an entrance. Shares of the 28 companies on Chinext, Shenzhen\u2019s answer to the US Nasdaq, all at least doubled during their first half-day of trading. They were already priced at 40 times this year\u2019s forecast earnings on average, compared to the 30 multiple at which Shenzhen\u2019s main index trades. Chinese investors have got what they needed least: a chaotic hive of overvaluation.<\/p>\n<p>In theory, a growth market makes sense for China. Savings could find their way to technology and services firms, which often miss out on government largesse and bank lending. That neglect belies their importance promoting innovation and driving consumption. Companies, most of them high-tech, instead tap overseas markets \u2013 which does nothing to help China allocate capital efficiently.<\/p>\n<p><a title=\"Read Complete Article\" href=\"http:\/\/www.business-standard.com\/india\/brv_storypage.php?autono=375006\" target=\"_blank\"><strong>Read Compleet Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business Standard &#8211; China\u2019s wannabe Nasdaq: China\u2019s new growth-stock market has made quite an entrance. Shares of the 28 companies on Chinext, Shenzhen\u2019s answer to the US Nasdaq, all at least doubled during their first half-day of trading. They were [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12758","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=12758"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12758\/revisions"}],"predecessor-version":[{"id":12759,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12758\/revisions\/12759"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=12758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=12758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=12758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}