China Brokerage Warns Traders as Stock Surges Over 80% in Days
(Bloomberg) — A Chinese brokerage firm that saw its share price rocket more than 80% in June warned investors of trading risks, adding there’s little change in the company’s business environment.
Everbright Securities Co. said in an exchange filing on Wednesday that traders should be “rational and prudent” as the valuation of its stock has risen above the industry’s average after the recent surge. The brokerage’s Shanghai-listed shares have risen in all but one day this month, hitting the 10% daily limit on several sessions, to lead gains on the benchmark CSI 300 Index.
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