A sign of strength or desperation? Baoshan Iron & Steel soars 10% in Shanghai after...

|By:, SA News Editor

A sign of strength or desperation? Baoshan Iron & Steel soars 10% in Shanghai after announcing it will buy back up to $787M of its beaten-down shares. The refiners - namely Sinopec (SNP) and PetroChina (PTR) - join the rally as speculation falls on these giants as the next to commence repurchases. Shanghai +0.9%.