A year full of tricks

Article Abstract:

1992 Asia showed an increase in intra-regional trade, infrastructure and consumption growth, falling dependence on the US market and increasing Chinese investments. South Korean and Thai banks performed well in 1992, the Malaysian economy remained prosperous, but Indonesia struggled with the problems of an emerging market. 1993 investors will still be interested in selective Chinese investments in Taiwanese and Korean markets, bank investments in Singapore and Hong Kong and Japanese stocks. They should, however, be selective and cautious of timing.

Cover Story, Asia

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How not to profit: investors count the pitfalls of China's B shares

Article Abstract:

An analysis of the poor performance of China's B shares is presented. The issuance of the B stocks in early 1992 was initially greeted with a burst of enthusiasm by fund managers. Ten months later, however, most of the 18 B stocks were trading below their issue price. The reason lies in the absence or inaccuracy of financial reporting among Chinese companies. Another major reason is the tendency of Chinese companies to immediately use the proceeds of their share issues in activities that are completely unrelated to their core businesses.

China, Corporations, Corporations, Chinese

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Killer instincts

Article Abstract:

All indications show that Hong Kong's stock market is flush with money waiting to make profit. The most obvious and dramatic indicator is the oversubscription and underpricing of Canton-based Peugeot car assembler Denway Investments. Denway's shares price declined 20% from its peak price of HK$2.70 to HK$2.15. There is speculation that this development was manipulated.Manipulated or not, however, demand was overwhelming.

Motor vehicles and car bodies, Security brokers and dealers, Automobile industry, Denway Investments

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