SHANGHAI: Shares in China's fifth largest bank, Bank of Communications, surged a stronger-than-expected 80% on their Shanghai debut yesterday, indicating that investor fervour in China's stock market, especially for newly issued shares, may have gone too far, analysts said.
BoCom's A shares opened at 14.20 yuan against a 7.90 yuan offer price and were trading at 14.11 yuan at midday. Analysts had expected a debut at about 12 yuan.
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