China’s rigid capital rules ban its citizens from investing directly in Apple Inc but that’s not keeping them from seeking a piece of the iPhone maker’s success by buying shares in its suppliers – and even companies rumoured to be suppliers.
Investors have flocked to the only two China-listed firms that Apple has confirmed as suppliers, sending their valuations to lofty levels, while speculation has become rife in firms thought to be indirectly doing business with the technology giant.
Suzhou Anjie Technology Co Ltd has jumped more than 30 percent and Warren Buffett-backed carmaker BYD Co Ltd has gained more than 15 percent since mid-January, when they were cited on Apple’s first-ever suppliers’ list. China’s benchmark Shanghai Composite Index is up 5.6 percent for the same period.
“Investors want to share in Apple’s growth as they believe sales of iPhones and iPads will remain strong,” said Zhou Feng, analyst at…
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