Shanghai's B-Share Gauge Declines 5.3%
Source: Bloomberg News |
April 28, 2011, Thursday
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Print Edition
Print Edition
AN index tracking Shanghai-listed B shares, or US dollar-denominated stocks, fell 5.3 percent, the most in more than five months, on speculation a rally over the past year has been excessive and that a so-called international board of overseas companies may make B shares less attractive.
The B-share gauge has surged 19 percent over the past year, against a 0.5 percent gain for the yuan-denominated A-share index.
"We hear the international board in Shanghai is getting closer to reality," said Tal Haparnas, vice president at Knight Capital Asia. "This makes B shares less attractive."
Shanghai Mayor Han Zheng said last month the foreign stocks board will be launched soon. China may let 10 foreign and overseas-listed Chinese firms to sell shares in Shanghai under a trial program, the 21st Century Business Herald said last Friday, citing a draft plan.
The B-share gauge has surged 19 percent over the past year, against a 0.5 percent gain for the yuan-denominated A-share index.
"We hear the international board in Shanghai is getting closer to reality," said Tal Haparnas, vice president at Knight Capital Asia. "This makes B shares less attractive."
Shanghai Mayor Han Zheng said last month the foreign stocks board will be launched soon. China may let 10 foreign and overseas-listed Chinese firms to sell shares in Shanghai under a trial program, the 21st Century Business Herald said last Friday, citing a draft plan.
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