(Bloomberg) -- Hong Kong's stocks rose for a fifth
day, the longest run of gains in two months, after China's
government said it will allow mainland brokerages to buy
overseas shares for the first time. China Mobile Ltd. led gains.
``The impact is going to be huge as more money will be
coming to Hong Kong,'' said Renault Kam, a director of Atlantis
Investment Management Ltd., which oversees $3 billion in Asia.
Mainland companies listed in the city are likely to benefit the
most, as investors would ``rather buy shares of companies with
backgrounds they know about.''
Read more at Bloomberg Stocks News
day, the longest run of gains in two months, after China's
government said it will allow mainland brokerages to buy
overseas shares for the first time. China Mobile Ltd. led gains.
``The impact is going to be huge as more money will be
coming to Hong Kong,'' said Renault Kam, a director of Atlantis
Investment Management Ltd., which oversees $3 billion in Asia.
Mainland companies listed in the city are likely to benefit the
most, as investors would ``rather buy shares of companies with
backgrounds they know about.''
Read more at Bloomberg Stocks News
No comments:
Post a Comment