CHINA Travel International Investment Hong Kong is involved in freight-forwarding, express air-freight services and transport between the mainland and Hong Kong.

Last year, SBC Warburg put a sell on the stock, saying that because of poor investments and modest growth outlook, it would underperform the market.

This proved good advice because the red chip suffered with the rest of its sector when the speculative bubble burst. A year ago, shares traded at $4.475. Now they are worth $1.28, having underperformed the HSI by 30.09 per cent.