Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

China: Government Announces New Stimulus Package; Foxconn Faces New Labor Controversy


Microsoft and Boeing also make the news.


Chinese Stock Short Sellers: Short seller Citron Research found itself the target of criticism this week from a group of over 60 high-profile Chinese investors and business executives. In a letter, the group, comprised of former and current employees from Google, Microsoft, and other companies, slammed Citron and other Chinese short sellers for "targeting legitimate companies with either no problems or minimal problems," and producing reports that "boldly tell lies, knowing that their American readers have no way of verifying them."

The group asserts that the scrutiny of US-listed Chinese companies by short sellers like Citron is unfair and erroneous and has led to price declines in shares of companies such as SINA and Youku Tudou (YOKU), even causing many Chinese firms to delist from US exchanges.

"What Citron and other companies like it are doing is creating a prejudice that makes it difficult for companies we invest in to go public ... that's the agenda," said Kai-Fu Lee, former Google operations head in China, according to the Wall Street Journal.

For his part, Citron founder Andrew Left stood by his record, saying, "If what I wrote was false, then you wouldn't need a movement around it ... I am more than happy to defend [my statements] in a court of law."

Twitter: @sterlingwong

No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos