March 26, 2009

H Shares Hot Again

JP Morgan is "overweight" H shares pointing out that valuations of Chinese majors in Hong Kong are substantially less than their listed shares in Shanghai (most of which - A shares - are not available to non-Chinese). The Hang Seng China Enterprise is up and the combined A&B Shanghai Composite Index is near its year-to-date high. These are signals that the bottom may have been reached - barring a complete global collapse - in Chinese stocks. On to the next bubble....?


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