Monday 21 May 2007
Booming China Stock tests Govt's will
SHANGHAI (Reuters) - Rising to a record high immediately after the central bank hiked interest rates, China's booming stock market has entered a battle of wills with the government -- a battle that it may well lose.
Millions of Chinese investors, trading on mobile phones or in brokerage halls around the country, shrugged off the central bank's monetary tightening, which was partly designed to prevent the market from overheating.
Instead, investors pushed up stocks in massive turnover that was about 10 times year-ago levels.
Continued here
Millions of Chinese investors, trading on mobile phones or in brokerage halls around the country, shrugged off the central bank's monetary tightening, which was partly designed to prevent the market from overheating.
Instead, investors pushed up stocks in massive turnover that was about 10 times year-ago levels.
Continued here
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