Shanghai and Hang Seng Ratchet Up, Following Monday’s US Rise

shanghai hang seng

Apart from a bit of a jump in oil, there was no rational reason for the rise in the Hang Seng other than the U.S. market rise.  The one big exception was China Resources Beer Holdings, HK 291, which rose over 18% thanks to the perceived under-payment for the 49% of Snow Beer, from SABMiller.  Unfortunately for China Resources Beer, (catchy name), this sale was too late to save it getting the boot from the Hang Seng index in March.  Whether the exuberance will last for this SOE remains to be seen.

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