The dividend bonanza is adding pressure on the Chinese yuan already weighed by a resurgent dollar and the prospect of growing US-China tensions. The firms mostly pay dividends in Hong Kong dollars but earn the majority of their revenues in the yuan, which requires conversion.
NSE shares fall 2%, trade marginally above IPO price after debut. Why are Macquarie, other brokerages bullish?
NSE shares fell by 1.6% to Rs 1,790 following its stock market debut on Thursday. Brokerages Macquarie and Emkay assigned positive ratings, citing growth potential