Shares in China’s state-owned railway builder made a strong debut in Shanghai – calming fears after weak debuts by other Chinese companies. China Railway stocks surged 68.54% after a flotation which raised about 22.4bn yuan (¬£1.5bn) for the firm.
There had been some worries about its debut after the truck maker Sinotruk’s shares fell 15.7% on its first day . China Railway, which will make its Hong Kong debut on Friday saw its shares move from 4.8 yuan to 8.09 yuan. [Full Text]
[Image: China Railway will make its Hong Kong debut on Friday, from Getty Images.]