China’s Biggest Bank Has Rarely Been in Such Hot Demand: Chart

(Bloomberg) -- Investors seeking evidence of whether a rally in Hong Kong is looking overheated need look no further than Industrial & Commercial Bank of China Ltd. The lender -- China’s biggest -- has gained for 13 of the 14 past trading days, sending a momentum indicator to levels only seen during one period in the past five years. The advance has helped make the Hang Seng China Enterprises Index the world’s best performer this month.

To contact the reporter on this story: Richard Frost in Hong Kong at rfrost4@bloomberg.net. To contact the editors responsible for this story: Richard Frost at rfrost4@bloomberg.net, Sarah McDonald