Shares of Chinese electric-car maker BYD rallied 8 percent in Hong Kong trading today (Monday), finishing at an all-time closing of HK$48.60.
The buying was apparently sparked by news wire headlines quoting BYD’s chairman as saying Warren Buffett “wants” or “intends” to raise Berkshire Hathaway’s 10 percent stake in the company.
Berkshire’s MidAmerican Energy Holdings has already generated a paper profit of over $1 billion on its $230 million dollar investment announced last fall.
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