HONG KONG (Reuters) — U.S. asset manager Matthews International Capital Management is closing its Shanghai office, a company statement and a source with direct knowledge said, the latest withdrawal of a foreign money manager amid difficult market conditions.
Other major global financial institutions, such as Morgan Stanley, have trimmed their teams, as the blue-chip CSI300 index sank last month to five-year lows, pummeled by a property debt crisis and lack of major stimulus.
