A share-buying surge from the mainland that flooded Hong Kong’s market last week through that bourse’s linkup to Shanghai largely ignored dependable blue-chip stocks such as HSBC Holdings PLC (0005.HKG) and CK Hutchison Holdings (0001.HKG) in favor of company names recognized in China or which are dual-listed on both exchanges and trade at lower prices in Hong Kong, The Wall Street Journal reported. Shanghai investors had thrown RMB26.4 billion (US$4.25 billion) into Hong Kong-traded stocks since Wednesday, with money largely flowing into firms such as Hanergy (0566.HKG) as said traders avoided firms largely held by international investors, aware their smaller influence could be quickly overwhelmed.
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