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Mysterious 8,500% stock gain attracts big funds (and big questions)
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.
- China Ding Yi Feng Holdings Limited (KY)
- HSI SERVICES LIMITED
- MSCI HONG KONG LIMITED
- SECURITIES AND FUTURES COMMISSION