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Volatility and Opacity in Chinese Stock Market

Cause for Monday's 8.5 percent drop in the Shanghai Composite Index remains a mystery.

By Kyoungwha Kim and Kana Nishizawa, Bloomberg | Updated on July 27, 2015

It’s days like Monday that reassure Tony Hann he was right to avoid stocks in mainland China.

The severity of an 8.5 percent drop in the Shanghai Composite Index is bad enough, but what irks him the most is not knowing why it tumbled so much. In a market where unprecedented intervention has made government money one of the biggest drivers of share prices, authorities aren’t transparent enough for investors to make informed decisions, said Hann, the head of emerging markets at Blackfriars Asset Management Ltd.

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