The market's appetite for Chinese stocks only intensified this past week.
China Digital TV (NYSE: STV) was only part of the explosion. China's leading provider of conditional-access systems in the digital-television market went public at $16 a share on Friday. It opened at $35 before closing at $28. That's a 75% gain for the lucky investors who got in on the IPO.
Meanwhile, a few speedsters on the American Stock Exchange made China Digital's eye-opening debut seem paltry in comparison. The exchange's three biggest gainers for the week hailed from China.
http://www.fool.com/investing/international/2007/10/08/another-week-another-chinese-explosion.aspx
Meanwhile, China market broke their first youngest billionaire to appear in Forbes:
Richest person in China is 26-year-old woman
High real estate prices and new Hong Kong exchange have made Yang Huiyan a billionaire.
BEIJING (AP) -- A 26-year-old woman worth $16.2 billion is mainland China's richest person, the business magazine Forbes said Monday, topping a list of tycoons whose wealth has soared amid a boom in stock and property prices.
The fortune of Yang Huiyan - also Asia's richest woman - is based on shares in Country Garden Holdings Ltd., a real estate developer founded by her father, Forbes said. It said the company's Hong Kong stock market debut this year made billionaires of Yang and four other people.
In second place was another developer, Hui Wing Mau, with a net worth of $7.3 billion. No. 3 was Guo Guangchang, chairman of a manufacturing, retailing and real estate conglomerate, with a fortune of $4.85 billion.
China stocks soar to record
1 comment:
No surprise there and it will only get better. While the US has been committing crimes China has been working on deals with all the World Leaders.
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