As previously reported, Morgan Stanley analyst Edward Xu downgraded China Southern Airlines H-shares
to Equal Weight, while also lowering his rating on China Southern Airlines A-shares to Underweight, citing the increasing risk of RMB depreciation due to the recent escalation of trade tensions between the U.S.
The Hang Seng gained 2.8 percent this week, while H-shares
were up 3.1 percent week-on-week.
Freshfields Bruckhaus Deringer (Freshfields) has advised China Tower Corporation Limited (China Tower), the worlds largest telecommunications tower infrastructure service provider, on the proposed global offering and listing of its H-shares
on the Main Board of the Hong Kong Stock Exchange.
Temasek sold 600 million of the bank's H-shares
at an off-exchange average price of HKD5.023.
of 5.16% of total issued shares (equivalent to 11.07% of issued H-shares
) by disposing 191.4m H-shares
representing about 4.16% of the number of total issued shares (equivalent to 8.92% of number of issued H-shares
), the company sad.
According to the firm, CN will offer direct access to China A-shares in addition to China B-shares, China H-shares
, China Red Chips, China P-Chips, China ADRs, and securities of Chinese companies listed in the US and Singapore.
Weak earnings were the main drag on H-shares
, with Great Wall Motor Co Ltd shedding 6.3 percent after a steep decline in first-quarter earnings growth.
UBS upgraded H-shares
-- Chinese stocks listed in Hong Kong -- to "overweight" on a view the string of growth-friendly reforms announced after a party plenum should help them outperform Asia excluding Japan for the next few months.
While ABC's IPO was delayed until 2010, the other three banks listed in both Shanghai and Hong Kong during 2005-2007, issuing A-shares and H-shares
Following a grim November when H-shares
outperformed A-shares for a sixth straight month, the CSI300 and Shanghai Composite indexes are down 9.1 and 10.2% on the year.
A-shares are protected from international capital and FX gyrations in the way that H-shares
listed in the open capital markets of Hong Kong are not.
It offers more than 5000 CFDs' shares from the world major exchanges including indices such as Australia 200, Hong Kong HS34, India 50, Singapore blue Chip, US SPX 500, FTSE 100, China H-Shares
, Germany 300, Wall Street, Taiwan All-Share, France 40, Japan All-Share, FTSE 250, US Tech 100, and other European indices.