MSCI HONG KONG LIMITED
SFC directs suspension of China DYF (0612)
SEHK, 8-Mar-2019
This follows a complaint by Webb-site to the SFC on 18-Feb-2019 and a Bloomberg article on 22-Feb-2019. This is a "Chapter 21" closed-end investment fund, trading at about 86x NAV. Such companies are exempt from the public float requirement of the Listing Rules, and the SFC has not issued any concentration warning on this stock. Consequently it has been admitted into various HSI and MSCI indices, exacerbating the bubble. It was due to enter the HSI Large and Mid-Cap Index at the close of business today.
SEHK, 8-Mar-2019
This follows a complaint by Webb-site to the SFC on 18-Feb-2019 and a Bloomberg article on 22-Feb-2019. This is a "Chapter 21" closed-end investment fund, trading at about 86x NAV. Such companies are exempt from the public float requirement of the Listing Rules, and the SFC has not issued any concentration warning on this stock. Consequently it has been admitted into various HSI and MSCI indices, exacerbating the bubble. It was due to enter the HSI Large and Mid-Cap Index at the close of business today.
Mysterious 8,500% stock gain attracts big funds (and big questions)
Bloomberg, 22-Feb-2019
Comment: this is a closed-end investment fund trading at 93 times its net asset value, rather than the normal discount that such funds attract. MSCI and HSI should know better than to include such funds in their indices, as they are not regular companies and are prohibited from participating in business management. They are also exempt from the public float requirements, which is probably why the SFC has not issued concentration warnings on such stocks, but it should do so anyway.
Bloomberg, 22-Feb-2019
Comment: this is a closed-end investment fund trading at 93 times its net asset value, rather than the normal discount that such funds attract. MSCI and HSI should know better than to include such funds in their indices, as they are not regular companies and are prohibited from participating in business management. They are also exempt from the public float requirements, which is probably why the SFC has not issued concentration warnings on such stocks, but it should do so anyway.
Concentration warning in Yat Sing (3708)
SFC, 14-Jun-2017
This follows a complaint by Webb-site to the SFC on 14-Jan-2017 and a second one on 31-May-2017 when MSCI put it in their small-cap index. Now they should eject it. The top 21 holders have 90.06% of the company.
SFC, 14-Jun-2017
This follows a complaint by Webb-site to the SFC on 14-Jan-2017 and a second one on 31-May-2017 when MSCI put it in their small-cap index. Now they should eject it. The top 21 holders have 90.06% of the company.
SFC warns market on CIFG (0412)
Following Webb-site's bubble warning on 26-Sep-2016, the SFC has conducted an ownership investigation. (13-Oct-2016)
Following Webb-site's bubble warning on 26-Sep-2016, the SFC has conducted an ownership investigation. (13-Oct-2016)
MSCI Boils the Interchina Bubble
Oh dear - it seems like the index compilers in Geneva don't read Webb-site.com - they have just put Interchina Holdings into the MSCI Small-cap Index, despite the clear warning from SFC investigations and our previous article that the stock has been cornered and ramped. Now this property stock is trading at over 7.5x net tangible assets instead of the discount to NTA it deserves. (16-May-2002)
Oh dear - it seems like the index compilers in Geneva don't read Webb-site.com - they have just put Interchina Holdings into the MSCI Small-cap Index, despite the clear warning from SFC investigations and our previous article that the stock has been cornered and ramped. Now this property stock is trading at over 7.5x net tangible assets instead of the discount to NTA it deserves. (16-May-2002)
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy