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Komfie Manalo, Opalesque Asia:

Singapore-based asset management firm APS Asset Management said that its APS China A Share (Cayman) Fund rose 1.46% gross in July and 1.59% in 2Q (-6.38% YTD), outperforming its benchmarks, the Shanghai A-Share Stock Price and the Shenzhen A-Share Stock Price Indexes, by 1.46 percentage points and 11.45 percentage points respectively.

In its monthly report to investors, APS said that the A-share market rose in early July as investors anticipated an acceleration of state-owned enterprise (SOE) reforms. At an SOE reform forum, President Xi Jinping had called for SOEs to be strengthened and outdated capacity to be eliminated.

"As discussed in our earlier commentary, investors were previously disappointed with the progress of reforms and we would expect more detailed measures, especially on employee share incentives and hybrid ownership," APS said.

July saw first case of listed company to delist

The asset manager noted that July marked the first case of a listed company being delisted for IPO fraud since China’s securities regulator unveiled stricter delisting rules in 2014 in an effort to restore investors' confidence and remove errant companies.

The China Securities Regulatory Commission (CSRC) initiated the process to compulsorily delist Dandong Xintai Electric Co for fabricating financial information in its IPO application. The delisting follows the exit of Zhuha......................

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