Chinese Stocks With ‘Emperor’ in Their Names Are Surging
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What’s the trade on China’s move to let President Xi Jinping stay in power indefinitely? Some investors may have decided that it’s buying shares in companies with “king” or “emperor” in their names.
While stocks traded on China’s mainland largely tracked Friday’s advance in the U.S., firms like Shenzhen Emperor Technology Co. saw outsized gains, with the southern China-based maker of smart-card systems surging 7.4 percent on Monday, the most since the start of November. Trading volume in the stock also spiked, to nearly five times what it was on Friday.