Hong Kong
RETIRED chauffeur Yao Huiliang used to spend his days trading small-cap Chinese stocks, trying to make quick money on sharp moves - casino-type behaviour often seen in China's stock markets.
But having lost on such bets recently, he is now switching into blue chip stocks, such as the big banks. "There's not much swing in big-caps, so you don't make quick money. But it's safe," Yao said.
His move is in tune with what regulators in Beijing want to achieve: deflating some of China's asset bubbles and building the global credibility of China's capital markets.
One such bubble, in the eyes of many analysts and investors, is the Shenzhen-based tech-startup-heavy ChiNext, which slumped to its...
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