China Mobile Shares Increased More than 7 Percent

, Posted by Umer Kayani

Mon, Aug 10, 2009

On Thursday, 6th August 2009, news that the world’s largest wireless carrier (China Mobile) was listing its shares on the Chinese A-share market led to an increase in stock buying at the Hong Kong bourse. Investors sold out their idle shares in preparation to buy those of the red-chip company that are to list on the Shanghai Stock Market by year end. Reports show that by 0744 GMT, the share prices had hit a remarkable HK$86.60 which is a 6.8% rise though slightly lower compared to the 11-month high of HK$86.85. The share index has recorded an increase by 11.5% although it’s an underperformance of about 40% in comparison with the main market index. (Reuters).