Few Chinese companies have caught the imagination of global investors like its technology firms. But they have suffered a catastrophic spell
Save time by listening to our audio articles as you multitaskThat word caused a bit of a furore. JPMorgan lost its position as the lead underwriter for the listing in Hong Kong of Kingsoft Cloud, a Chinese cloud-computing firm. According to Bloomberg on May 10th, editors at the bank had in fact tried to replace “uninvestible” with the less apocalyptic “unattractive”. But some mentions slipped past them.
The odd thing is that the word has become more common even as the world has become more investible. Thanks to financial innovation and globalisation, far-flung assets are far easier to buy than they used to be. Back in 1988’s emerging-markets equity index included only ten countries with a combined market capitalisation of just over $50bn. The index now includes 24 countries with a market value of $6.9trn.
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