E The Market For Non-US Stocks Is Moderately Upbeat

*Intrepid readers may want to dip their toes into Hong Kong-listed stocks with ADRs today. My best idea is Hang Seng Bank, a 62% sub of HSBC, keeper of the index, which lost ~0.5% over the past 2 days. The Hang Seng is a free-float capitalization-weighted index which has been operated since starting at 100 in 1964. It has nothing to do with the bank's own solvency but they are often confused. HSNGF trades OTC and as 11 in Hong Kong. It is trading at US$22.71 ask and I bought today with e-trade, the most difficult stock purchase I ever made. The market maker briefly tried to get $24 which of course I rejected. It pays a dividend of over 31% because of the mess in Hong Kong. It has not cut its interest rates except when the Fed does.

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