Question
A share of the ADR of a Chinese firm represents one share of that firm's stock that is traded on Shanghai stock exchange. The share
A share of the ADR of a Chinese firm represents one share of that firm's stock that is traded on Shanghai stock exchange. The share price of the firm was 27 yuan when the Chinese market closed. As the U.S. market opens, the yuan exchange rate is 9 yuan: $1. Thus, the price of the ADR should be:
$3
$9
$27
$243
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Financial Informatics An Information Based Approach To Asset Pricing
Authors: Dorje C Brody, Lane Palmer Hughston, Andrea Macrina
1st Edition
9811246483, 978-9811246487
