Hong Kong's IPO Crash Indicator [Bloomberg Business News]
BEIJING ENT HOLDING ADR (BJINY)
NASDAQ:AMEX Investor Relations:
behl.com.hk/en/ir/presentations.php
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Source: Bloomberg Business News
Photographer: Laurent Fievet/AFP/Getty Images Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning. Like military campaigns, market cycles are subject to uncertainty in their duration. Winston Churchill's famous admonition was an attempt to damp euphoria after the Allied victory at El Alamein in 1942, knowing of the long, hard slog that lay ahead. We could just as well apply it to the latest wave of elation sweeping through Hong Kong's stock market. IPO fever is back . The retail portion of China Literature Ltd.'s initial public offering was more than 600 times oversubscribed, locking up at least HK$520 billion ($67 billion), or one-third of the city's monetary base, according to the South China Morning Post. The e-book company's shares closed 86 percent higher on their first day of trading. The benchmark Hang Seng Index has climbed 31 percent so far in 2017, on course for its biggest annual ga
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