Is a China Stock Bubble Forming?

When outlandish stock market events of 2009 are tallied up, the initial public offering in Hong Kong of Chinese herbal shampoo maker Bawang International will be a standout. Within 10 minutes of the June 22 opening of the subscription period for shares, one local brokerage, Bright Smart Securities, was swamped with the equivalent of $129 million in orders

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