Nearly 1300 Chinese Hedge Funds Have Been Forced To Liquidate

In what is fast becoming a regular feature of the market, the Shanghai Composite Index staged a late-day rally to close 4.9 percent higher. The rally comes too late for many Chinese hedge funds who have been decimated by the rout that started in June as they are restricted in making bear-market bets by government regulation. According to Howbuy Investment Management Co. nearly 1,300 have been forced to liquidate already.