October 02, 2006

Morgan Stanley Gains and Loses

Thirteen years after Barton Biggs' "maximum bullish on China" statement, Morgan Stanley finally has a China commercial banking license with the purchase of Nan Tung Bank, a small bank in Zhuhai (Pearl River delta) once owned by a Macao based subsidiary of Bank of China. The move puts Morgan Stanley well ahead of its rivals (Goldman Sachs, Lehman Bros, etc.) in China.

And at the end of last week, Morgan Stanley launched the Morgan Stanley China A Fund to trade on the NYSE (symbol:CAF). The composition of the fund will be at least 80% A shares listed in Shanghai and Shenzhen.

For more on China shares, visit Sinomania! China Sharewatch.

Morgan Stanley is losing Andy Xie, however, in an unexpected departure.

For almost a decade, the incomparable Andy Xie moved minds and markets with his wise words on China. His often daily comments at the GEF were invaluable insights that cut through the fog of most China reporting.

Speculation is Xie may join a fund management firm, work in the mainland,
or perhaps join a Wall Street rival?

Bon Chance! Andy, and I hope we hear from you soon, and regularly!

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