China not sheltered from subprime

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China's stock market is not immune to the crisis in subprime mortgages in the United States, new research from the International Monetary Fund reveals.

The analysis looks at evidence from stock markets to investigate the spillovers from American financial markets to that of mainland China and Hong Kong during the subprime crisis.

The research shows that Hong Kong's equity returns have exhibited more significant price and volatility spillovers from the United States than China's returns, and past

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