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An investor takes a nap in front computer screens showing stock information at a brokerage house in Shanghai.
An investor takes a nap in front computer screens showing stock information at a brokerage house in Shanghai.
(ALY SONG/REUTERS)

BREAKINGVIEWS

China’s biggest broker looks past doldrums with IPO

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks. Click here to read more international insights.

China’s equity markets are in the gutter but looking up at the heavens. The initial public offering of China Galaxy Securities, the country’s biggest broker, is a bet that what has gone down must at some point go back up.