China Review: Hong Kong 'H' Shares Play Catch-Up

"H" shares played catch up last week in Hong Kong. Global optimism brought back investors bidding up shares that they had been dumping the previous week. In Shanghai, though most of the gains were made on Monday, the rest of the week saw cautious trading. As on cue after the close on Friday, the PBOC announced another bank reserve increase. The Monday move was largely 'buy the rumor', in this case a lower CPI, and 'sell the news' for the rest of the week. Volume in Shanghai in the

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