China hedge funds caught out by abrupt market surge

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The story "China hedge funds caught out by abrupt market surge" was covered 3 hours ago by Channel News Asia, a news publisher based in Singapore.

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China hedge funds caught out by abrupt market surge - Channel News Asia

Quick Summary:

SHANGHAI: China's abrupt and ferocious stock market rally has slammed some of the country's biggest hedge funds, forcing them to hastily cover short positions and take losses on their bets in the heavily regulated derivatives market.

Chinese index futures typically trade at a lower price than the stock indexes they are linked to, due to a shortage of tools that allow bearish short positions in mainland markets.

Investors wait for China's stock market to open in front of an electronic board at a brokerage house in Beijing, China, on Jan 8, 2016.