India's stocks plunged, triggering a trading halt, and the rupee fell the most in two months after regulators proposed investment controls targeting global funds. The benchmark Sensex index dropped 9.2 percent after the Securities & Exchange Board of India late yesterday said it plans to limit trading by investors who purchase derivatives linked to Indian stocks, hiding their identity. Record share purchases drove the Sensex to an all-time high and fueled a 12.5 percent gain in the rupee against the dollar this year, eroding export earnings. The rout wiped more than $100 billion off the value of Indian stocks, led by ICICI Bank Ltd. and Reliance Industries Ltd. The planned clampdown raises concern more Asian regulators will consider restrictions to strengthen market oversight and head off investment bubbles that are fueling inflation.[...] More than half of the $17 billion of the net purchases of Indian stocks this year may have been through the use of derivatives known as participatory notes, JPMorgan Chase & Co. estimates. The notes, which change in value depending on the performance of the underlying securities, provide hedge funds anonymity in their investment. http://www.bloomberg.com/apps/news?pid=20601087&sid=auGqd5JwezQA&refer=home I thought of investing into India´s market, but regulator intervention definetely eliminating even any kind of investment !
Asian developing country regulators are a major source of losses. They just do something for often no better than nationalistic reasons and to hell wiyth the consequences, including those for their own domestic investors. Other examples, Thailand's 30% witholding rule, Malaysia currency etc.
anybody have a link handy to a source for real time, dynamically updating prices (ideally charts) of the BSE? thanks.