Foreigners Increasingly Bearish on A-Shares

iFeng: 外资看空观点层出不穷：A股暴涨是巨大意外 现在就跑路

Market cap to GDP

Market cap increase since 2008 (Top to bottom: Mainland, HK, USA, Japan)

Price-earnings ratio is far higher than other Asian markets. As of June 15, the Shanghai index is about 22 times current earnings, while just a few months ago, its earnings still hovering around 9.6 times, which is the lowest level at least since 1998. The Shenzhen Component Index is about 54 times earnings 4 times many emerging market index price-earnings ratio, price-earnings ratio for GEM is up to 128 times. Data show that as of the end of May 2015, Tokyo Stock Exchange GEM price-earnings ratio of 99, the HKEx Board trades at about 13 times earnings, GEM is 90.

...The profitability of listed companies fell slightly. The aforementioned "2015 Chinese Listed Companies in the market value of Management Performance Evaluation Report" clearly shows that, compared with the 2014 year, listed companies value creation index score has not only increased, even slightly. The report notes, suggesting that the listed companies in terms of the level and profitability as well as industrial upgrading and transformation, etc. There are many problems still need to make great efforts to improve.

...IPO queue high number next issue continues to accelerate. There are 25 IPOs this week, with 500+ companies in the queue.

...Foreign institutions bearish view after another: the bubble burst just a matter of time

With the A-share bolted all the way, the market value rising. Many foreign institutions began to express concerns. They believe that skyrocketing A shares is a huge accident, the market will eventually return to reason, the bubble burst just a matter of time.