With friends like this....

Deustche Bank may have been one of the sponsors of the Ali-IPO but their initial coverage starting today with a "Sell" recommendation saw an 11.5% fall in the Alibaba share price to HK$32.90. This, on a day that the Hang Seng Index rose 0.75% to get back within a hair of the 30,000 level. DB is projecting a 'fair' value off HK$26.70.

Meanwhile, my colleague Mark points out that the over-quoted so-called 'guru' Jim Rogers, who has for months and months been saying there is NO bubble in China has changed his mind. Today he decided there is after all a bubble in China and Hong Kong. But what is the one stock he thinks is not overvalued? He met Jack Ma and yadda yadda yadda....