Financial Times (June 29)
Hong Kong elite are visiting Japan on posh tours to invest in Tokyo. Property brokers say the tours demonstrate “the appeal of the weak yen” and “the way in which the Tokyo market seemed immune from the recessionary worries swirling around other capitals.”
Tags: Appeal, Brokers, Elite, Hong Kong, Immune, Invest, Japan, Market, Posh, Property, Recessionary, Tokyo, Tours, Weak yen, Worries
Wall Street Journal (December 9)
“Rather than reform the markets, Beijing wants to inflict pain on the brokers to assuage public anger over the crash.” This sort of meddling by the government helps explain why China’s financial markets remain dysfunctional. “China’s largest brokerage is now missing six of its eight top bosses” who are widely assumed to to “have been detained by police.” Numerous others have disappeared under similar circumstances. “But political interference risks repeating the boom and boost cycle. Putting brokers in prison won’t strengthen markets unless it is part of a new commitment to consistently enforce the law.”
Tags: Beijing, Brokerage, Brokers, China, Crash, Dysfunctional, Government, Markets, Public anger, Reform
