Advertisement
UK markets closed

  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     

  • FTSE 250

    20,164.54
    +112.21 (+0.56%)
     

  • AIM

    771.53
    +3.42 (+0.45%)
     

  • GBP/EUR

    1.1652
    -0.0031 (-0.26%)
     

  • GBP/USD

    1.2546
    +0.0013 (+0.11%)
     

  • Bitcoin GBP

    49,935.26
    +2,450.70 (+5.16%)
     

  • CMC Crypto 200

    1,359.39
    +82.41 (+6.45%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +450.02 (+1.18%)
     

  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     

  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     

  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     

  • HANG SENG

    18,475.92
    +268.79 (+1.48%)
     

  • DAX

    18,001.60
    +105.10 (+0.59%)
     

  • CAC 40

    7,957.57
    +42.92 (+0.54%)
     
MONEY:

Best savings accounts that offer above inflation rates

Where to find a top-rated deal that works for you

REUTERS SUMMIT-Short-seller Chanos says China seeing faster capital flight

Reuters - UK Focus

By Sam Forgione

NEW YORK, Oct 28 (Reuters) - Hedge fund manager Jim Chanos, who has a long-running bet against China, said that country's credit bubble was starting to cause capital outflows to accelerate, a problem that may ultimately weaken the nation's yuan currency.

The prominent short seller pointed to overbuilding in residential housing in Chin, and the increasing cost of building gaming properties in nearby Macau as evidence that the bubble was getting worse.

He believes investors are starting to take notice.

"It's safe to say it's accelerating," said Chanos, speaking of capital flight out of China, and said China's quarterly drop in foreign exchange reserves was "noticeable." (Editing By Cynthia Osterman)