Shares & Derivatives
CHINA MINZHONG EFFECT ON S-CHIPS STOCKS
By Singapore Stocks Investing (SSI)  •  August 31, 2013
CHINA MINZHONG stock headed south by about 50% after the short selling report but CHINA MINZHONG is not only the stock that faces the effects of the report, some S-chips stocks here also experienced similar effects. Sino Grandness, a food stock which is similar to China Minzhong, with businesses based in China, also faces pressure as its stock price heads south. I was quite surprised reading an analyst report that goes as far to the extent that the analyst firm will cease coverage on S-chip stocks altogether as the analyst argued to the point that even if a S-chip stock like China Minzhong which has substantial GIC’s presence before could become victim of short sellers, then there is no point covering other S-chip stocks. I think S-chips stock here in Singapore really need to be robust in order to win investors’ confidence after the string of corporate scandals, delisting, etc. ......
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By Singapore Stocks Investing (SSI)
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