Li Ka-shing: "Must Be a Bubble"
Aggregated Source: China ChallengesBloomberg reports:
Li Ka-shing, Asia's richest man, said China's stock valuations ``must be a bubble'' and prices are likely to decline.
``As a Chinese, I'm worried about the stock market in China,'' Li, 78, told reporters in Hong Kong today. He joins central bank Governor Zhou Xiaochuan in saying China's stock prices are excessive and spoke a day after Premier Wen Jiabao warned of ``problems'' for the economy.
China's benchmark CSI 300 Index rose 2.1 percent today, bringing gains this year to 85 percent. The measure closed at a record as the government said investment in factories and real estate jumped 25.5 percent in the first four months. The economy grew 11.1 percent in the first quarter.
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http://www.bloomberg.com/apps/news?pid=20601080&sid=a52V.V7.gSf0&refer=asia
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