NTDTV
Market Report – China IPOs Up
(NTDTV)
In the Market Report… two recent China initial public offerings had their trading debuts today.
China State Construction Engineering Corp rose 70 percent in its Shanghai debut on Wednesday, while building materials group BBMG had the strongest Hong Kong listing this year.
The debut of CSCEC may heighten concerns about a speculative market bubble and how Beijing will respond.
China reopened the IPO pipeline last month.
In Hong Kong, Beijing-based BBMG saw investor funds chase the potential exposure to Chinese infrastructure stimulus spending.
And the two debuts came as Asian shares hovered near 10 month peaks, but both the Hong Kong and Shanghai benchmarks declined sharply on Wednesday on profit-taking.
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