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Chinese Investors Are Pouring Into the U.S., Japan
Chinese individual investors are desperate to shift their money out of the country—and they are willing to pay a big premium to do so. The best example of their desperation: Some this week have been buying funds that offer exposure to Japanese stocks at a 20% premium to what those stocks are worth. An exchange-traded fund launched by China Asset Management Co. traded at a 14% to 20% premium to its indicative net asset value over the first three days of the week. The ETF became so popular that China AMC halted its trading for an hour on Thursday, a move also taken by another firm. It warned investors about the big ... (full story)