Sharp declines in the share prices of two Hong Kong-listed companies that were the subject of sell-downs by existing shareholders late last week shows that, irrespective of the stockmarket recovery in March and two successful IPOs over the past week, investor sentiment is still cautious. Investors may be willing to buy shares at a deep discount, but a key reason for many of them to do so seems to be the opportunity to make short-term profit.
Huabao International Holdings was first out with a placement of HK$1.16 billion $149 million on Thursday night as chairman Chu Lam Yiu sold a small part of her holdings in response to what was referred to as...
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