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Miramar shares lead broad-based rise

HOTEL shares rose across the board in the past week, although the rest of the market caught up yesterday.

The strong rises in the last four days of last week meant that Mandarin Oriental and Miramar in particular rose only slightly yesterday while the rest of the market moved up by an average of 3.3 per cent.

Over the past five trading days the Hang Seng Index has risen 4.5 per cent.

Miramar has been a popular stock, moving up strongly in thin trade, although the stock is not a brokers' favourite.

Of the nine brokerage opinions in The Estimate Directory, five are telling their clients to sell, one to switch out, one to avoid and two to hold.

None is telling their clients to buy.

Hongkong and Shanghai Hotels' strong performance over the past week is largely due to yesterday's rise of 4.2 per cent.