Shenzhen Stocks Rising 500% Dwarf Hong Kong Shares Wild Ride
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In Shenzhen, home of China’s hottest stock market, rallies of more than 500 percent aren’t unusual. What’s become rare are the type of corrections that rocked Hong Kong this week.
Hanergy Thin Film Power Group Ltd. and Goldin Financial Holdings Ltd. plunged more than 45 percent in Hong Kong after surging more than sixfold in the past 12 months. Across the border in Shenzhen, there are 103 stocks that rallied that much in a year, compared with only four in the former British colony. Among the 1,721 stocks on the Shenzhen Composite Index, four have declined this year.