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1、ForgetStocks-ChineseTurnBullishonBoozeandCaterpillarFungusFromWallStreetJournalofJanuary30,2012CaterpillarfungususedtoboostsexualvirilityisjustoneofthelatestalternativeassetsforChineseinvestors.TheWSJ'sDeborahKantalkstoDinnyMcMahon.BEIJING-Forgenerations,Chi
2、nesemenlookingforadoseofvigorhaveswornbyatraditionalremedy:fungusharvestedfromdeadcaterpillars,knowninsomequartersthesedaysasHimalayanViagra.NowChineseinvestorsareusingtherarefungustotrytoboostsomethingelse-theirinvestmentreturns.Thefungushasdoubledinpriceov
3、erthepasttwoyearsandthetopgradenowfetchesmorethan$11,500apound,accordingtoFuzhou-basedbrokeragefirmIndustrialSecurities.WithChinesestocksfalling,real-estatemarketsflatandbankdepositsofferingmeaslyreturns,Chineseinvestorshavebeenlookingforhelpinstrangeplaces.
4、Besidestraditionalmedicinalproducts,theyareplowingmoneyintoart-basedstockmarkets,homegrownliquors,mahoganyfurnitureandjade,amongotherdecidedlynon-Westernassetclasses."Onamicrolevel,speculationhasappeared,"saysLongXingchao,presidentoftheinformationcenterofthe
5、ChinaAssociationofTraditionalChineseMedicine.Theassociationsayspricesoftraditionalmedicines,includingredginsengandfalsestarwort,havesurgedsince2010,partlybecauseofspeculators.Mr.Longinsists,however,thatapricebubbleisn'tforming."There'snothingtopop,"hesays.Ne
6、wfangledexchangesaresproutingacrossChinatotakeadvantageoftheexcitement.NanjingPharmaceuticalCo.setupanexchangelastyearfortradingtraditionalmedicinessuchasdeerantler.InNovemberitextendedhourssoinvestorscouldtradewhentheygethomefromwork."Expandingthehoursgives
7、investorsmoretimetomakeaprofit,"theexchangesaidonitswebsite.Exchangeshavepoppedupthatallowinvestorstobuyandsellsharesofindividualworksofart.InthecityofTianjinlastsummer,anunnamedsellerfloatedabout30millionsharesofapaintingcalled"EternalLotusWind,"ataninitial
8、priceof1.61yuanapiece-about25cents.Withintwodays,investorshadbidthesharesup52%,valuingthepaintingatabout$11.5million.Thenthesharesbegansliding;theynowtradeat36%belowtheinitialofferingprice.CuiRu
