Caixin
Oct 18, 2018 07:20 PM
FINANCE

CDRs Are Surprise Winners in Stock Market Rout

The wheels suddenly fell off the Chinese depositary reciept cart in June when smartphone-maker Xiaomi Corp. shelved its listing plan due to a dispute with the regulator over its valuation. Photo: VCG
The wheels suddenly fell off the Chinese depositary reciept cart in June when smartphone-maker Xiaomi Corp. shelved its listing plan due to a dispute with the regulator over its valuation. Photo: VCG

*After the Chinese depositary receipts program stalled in June, the money investors placed in the six funds set up to buy the receipts was then invested in safe bets such as bonds and interbank instruments

*These six funds have since seen returns of around 1%, meanwhile China’s stock market has tanked, nearing a four-year low, and stocks in some tech companies mooted as potential participants in the receipts program have also fallen sharply

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