Market sceptics are alive and well in HK
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Hong Kong
MARKET sceptics are surprisingly healthy in Hong Kong. A scathing analysis from GMT Research claims that Evergrande needs to take 150 billion yuan (S$31.2 billion) of writedowns, enough to destroy the Chinese property giant's equity. That is brave given the hard time authorities and companies give doubtful analysts - including the developer's previous critics.
Hong Kong has started to look intolerant of negative research. In October, a Hong Kong tribunal fined and banned Andrew Left of Citron Research, for spreading false or misleading information with a critical 2012 report on Evergrande.
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