Tuesday, May 19, 2009

China: Not Serious about Corruption?

From the WSJ China Blog: "it was still unexpected for a branch of the country’s top anticorruption agency to put down its name as a shareholder of three listed firms." Surprise, surprise, they even beat the market: "it turns out that as investments go this was one wasn’t bad: From Jan. 23 to May 19, Dongfang Yinxing’s shares soared by 81%, with Mingfufa up by 42% and Zhongyuan Huanbao gaining 30%. In the same period, the benchmark Shanghai Composite Index rose by 34%."

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