Word: hong
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...warriors and another chance at the U.S. market. Chan, better known for romantic dramas like the superb Comrades: Almost a Love Story, could have a shot with this remake of Chang Cheh's 1973 kung-fu bromance Blood Brothers. He's certainly got star quality: Jet Li, Kaneshiro and Hong Kong superstar Andy Lau (who had the Matt Damon role in the film that was remade as The Departed). It's a little long and a lot of fun, even if it doesn't quite live up to the NYAFF blurb: "As big, meaty and satisfying as a flame-roasted...
...British Airways flight; a flight attendant held on to his legs as the co-pilot landed the plane (the pilot survived). In 1994, an Aeroflot pilot allowed his 12-year-old daughter and 15-year-old son to play with the plane's controls during a Moscow-to-Hong Kong flight. "Can I turn [the wheel]?" the black box recorded the boy saying. "Turn it." The pilot replied. "Watch the ground as you turn. Let's go left." Moments later, the plane crashed into the Siberian wilderness, and all 75 people onboard died. (Read "How to Survive a Plane Crash...
...Such examples of excessive investor ardor for new Chinese stocks aren't hard to find. Shares of Chinese water-treatment-equipment supplier Duoyuan Global Water soared 37% on June 24, its first day of trading on the New York Stock Exchange. Back in Hong Kong, Chinese thenardite producer Lumena Resources (thenardite is a key ingredient in powder detergents, textiles, glass, chemical feedstock and pharmaceuticals) rang up 19% in gains on June 17. On June 22, the IPO of China Metal Recycling closed 22% higher. (See pictures of China's infrastructure boom...
...Have Ben Bernanke's green shoots magically turned into tropical forests overnight? Hardly. There may be some justification for how stock-market indexes in the U.S. and Hong Kong have soared from their lows in March, when it seemed the global economy was sliding off a cliff. But this incipient IPO mania is a different story. Investors are bidding up the stocks of Chinese companies not because their shares had been unfairly pummeled, but because of expectations for future growth that...
...Only two Chinese enterprises went to market in the U.S. last year, down sharply from 29 in 2007. Now there's a rush to list. Accounting firm Ernst & Young says it is working on 108 IPOs; most of the offerings are by Chinese companies planning to list in China, Hong Kong or both. Meanwhile, Chinese technology firms are expected to head to the U.S., which has long been the market of choice for cutting-edge companies...