Sino-Forest (TRE.TSX), accused of overstating assets by short seller Carson Block’s firm Muddy Waters, announced yesterday that a proposed analyst tour of its Chinese operations will be postponed until an independent committee reports the results of an investigation into the allegations, Bloomberg reported. The company justified the decision by saying that “many” of the analysts […]
Category: Markets
US and Chinese officials will meet next week to discuss giving US securities regulators the ability to investigate companies within China, Bloomberg reported, citing two unnamed Chinese officials with direct knowledge of the plans. Representatives from the Public Company Accounting Oversight Board (PCAOB) and the Securities and Exchange Commission (SEC) are set to discuss the […]
Chinese tree plantation operator Sino-Forest (TRE.TSX), under attack by short sellers who accuse it of overstating its timber holdings, recovered 30% in Toronto yesterday after Boston-based investment firm Wellington Management revealed it owned a 11.5% stake in the company, Bloomberg reported. Wellington, which manages US$663 billion in assets, appears to have massively increased its holdings […]
Short-selling investors are turning away from US and Canadian markets to target Chinese companies listed in Hong Kong, Reuters reported. Short-sellers borrow shares in the hope that the share values will decline and they can return the stock to the lender at a profit. Chinese firms listed on US exchanges — in particular those that […]
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Snapping up cheap land; Asia CEO survey
From Savill’s Shanghai Q1 Property Market Review, June 13 Tighter liquidity – primarily caused through rising interest rates and lending quotas for the real estate market – has caused some developers to slow down expansion plans, and in some cases, sell off assets to finance ongoing operations. As certain developers slow their expansion, a lack […]