Foreigners Can't Get Enough of This Chinese Surveillance Stock
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It’s been a tough week for some Chinese tech stocks, but foreign investors still can’t get enough of Hangzhou Hikvision Digital Technology Co., betting it will thrive as China invests in mass surveillance.
Some 29 million Hikvision shares were bought on a net basis via the Hong Kong-Shenzhen trading link this week through Thursday, even as a U.S. ban on ZTE Corp. rattled the market. Investors using the Shenzhen trading link own 11 percent of the surveillance camera maker’s outstanding shares, more than any other company and up from less than 5 percent a year ago, Hong Kong exchange data show.