China Market Update: Hong Kong Growth Stocks Climb The Great Wall Of Underweight, Week In Review [Forbes]
GREAT WALL MOTOR CO ADR (GWLLY)
NASDAQ:AMEX Investor Relations:
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Source: Forbes
Asian currencies were strong overnight versus the US dollar as China's offshore Renminbi (CNY) traded at 7.19 CNY per USD this morning versus Tuesday's 7.25 (a lower price is renminbi appreciation versus the US dollar). PROMOTED Hong Kong-listed stocks had a good day following yesterday's very strong day in US-listed China stocks, which is discussed below. One catalyst was domestic and international travel data showing very strong year-over-year (YoY) increases, which indicate that the rumors of the death of the Chinese consumer may have been greatly exaggerated. Mainland media noted “hotel orders in county areas increased +64% year-on-year, and ticket orders increased by more than 200% year-on-year.” Meanwhile, Ctrip Research Institute noted that “inbound and outbound travel orders increased by more than +70% year-on-year”. As a result, travel plays were higher, including Macau casino stocks such as Galaxy, which gained +3.59% and Sands China, which gained +4.92%, and travel boo
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