touchring
26th October 2007, 04:40 PM
http://www.washingtonpost.com/wp-dyn/content/article/2007/10/24/AR2007102400276.html
Berkshire's Buffett says China is too hot to buy
By Kirby Chien
Reuters
Wednesday, October 24, 2007; 5:32 AM
DALIAN, China (Reuters) - Berkshire Hathaway Inc's Warren Buffett said on Wednesday he is scouring the world for big businesses, but is doubtful about finding a good buy in China because the market is too hot.
Hong Kong-listed shares in mainland companies (.HSCE) have risen 89 percent so far this year, while the main Shanghai index (.SSEC) has surged more than two-fold in 2007 and has jumped five-fold since the start of last year.
Buffett, speaking to reporters at the opening of a factory owned by an Israeli company he controls, had been asked about Berkshire's investment in PetroChina Co Ltd (0857.HK) (PTR.N), the country's largest oil and gas producer.
Buffett said last week that Berkshire (BRKa.N) (BRKb.N) had sold its entire stake in PetroChina, netting a huge profit for the insurance and investment company.
Berkshire's Buffett says China is too hot to buy
By Kirby Chien
Reuters
Wednesday, October 24, 2007; 5:32 AM
DALIAN, China (Reuters) - Berkshire Hathaway Inc's Warren Buffett said on Wednesday he is scouring the world for big businesses, but is doubtful about finding a good buy in China because the market is too hot.
Hong Kong-listed shares in mainland companies (.HSCE) have risen 89 percent so far this year, while the main Shanghai index (.SSEC) has surged more than two-fold in 2007 and has jumped five-fold since the start of last year.
Buffett, speaking to reporters at the opening of a factory owned by an Israeli company he controls, had been asked about Berkshire's investment in PetroChina Co Ltd (0857.HK) (PTR.N), the country's largest oil and gas producer.
Buffett said last week that Berkshire (BRKa.N) (BRKb.N) had sold its entire stake in PetroChina, netting a huge profit for the insurance and investment company.