July 29, 2009

CSEC Tests Shanghai High

The giant IPO of China State Construction Engineering Corporation (CSEC) tested investor appetite for domestic shares on the Shanghai Securities Exchange today and while CSEC's stock gained over 50% on its initial trading day the benchmark Shanghai Composite Index dropped 5% overall in late trading. Before the close the Shanghai Composite fell as far as 3,174 testing its new highs. Observers must remember that a 5% drop is not unusual for the often very volatile Shanghai exchange....

Labels: ,

Comments: Post a Comment

Subscribe to Post Comments [Atom]

<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]