Peregrine index up 2.6pc

THE Peregrine Greater China Index extended its stellar performance of past weeks by edging up another 2.6 per cent last week in US dollar terms.

Hongkong-listed China plays were buoyed by the strength of the Hongkong market overall, with increases being registered among 80 per cent of constituent stocks within the sector.

On the mainland, Shenzhen B shares ran out of steam, correcting sharply following their rapid post-Lunar New Year upswing, while Shanghai B shares broke through a narrow trading range early to finish up 5.7 per cent.

Brilliance China rallied in New York following profit-taking over the previous week.

The Peregrine Greater China Index has 30 components, including all B shares listed in Shanghai and Shenzhen.

Ten companies listed in Hongkong that have or derive at least 20 per cent of their sales, assets or earnings from China, and New York-listed China Brilliance Automotive Holdings, are also included.