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H-Shares Flat, China Preps Inquiry Into U.S. Car Makers
The Hang Seng Index inched up 0.27% to close at 22,268.16 on November 10, in main board trading volume of HK$70.52 billion.
Shares of domestic automobile companies shot up on Tuesday, after China's Ministry of Commerce announced November 6 that it plans to begin an investigation into practices of dumping or unfair subsidies by U.S. importers of sedans and sport utility vehicles with engine capacities at or above 2.0 liters.
Qingling Motors (1122.HK) skyrocketed 32.02%, Brilliance China Automotive Holdings Limited (Brilliance China) (1114.HK, OTC:BCAHY) increased 14.95% and Geely Automobile Holdings Limited (0175.HK) grew 7.56%.
Unnamed sources say Shenzhen-based real estate company Fantasia Holdings Group plans to raise between HK$2.55 billion and HK$3.21 billion through an initial public offering of roughly 1.46 billion shares on the Hong Kong Exchange on November 25, reports National Business Daily.
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