FIRST Pacific is a regional conglomerate engaged in telecommunications, property and banking.

Nomura Research Institute Hong Kong put a sell recommendation on the brokerage a year ago. This initially proved good advice because the share price fell by nearly 40 per cent from its early-April value.

But anyone who bought and kept the counter until now would have seen its price jump by 30 per cent, against the Hang Seng's 9 per cent rise.