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China Mobile Share Surge Sparked By ‘Mystery Funds’: CSJ

February 9, 2022
Source: asiafinancial.com asiafinancial.com
News Snapshot:
Claims that state-related funds were responsible denied by government after telecom firm’s price hits daily limit “Mysterious funds”have pushed the Shanghai-listed shares of China Mobile to surge by the daily 10% limit, in what could be a signal of the“sentimental bottom”of mainland China’s A-share market, the state-run newspaper China Securities Journal said on Wednesday citing analysts. This marks the secondday of China Mobile’s surge in Shanghai after the over-allotment option for its initial public offering (IPO) expiredon Monday. The telecom operator’s shares rose 5.4% in Shanghai on Tuesday. The newspaper did not explain the source of the“mysterious funds.” Bloomberg reported...
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