The H-shares of Bank of China in Hong Kong rose 0.5% to 3.71 Hong Kong dollars (48 cents).

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H-shares selling at a premium (but not the other way around).

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Still, Michael Kurtz, chief Asia strategist at Nomura Holdings, noted that Hong Kong's H-shares have reached the point where they are Asia's cheapest in terms of their forward price-to-earnings ratio, at 8.4 times, compared to a 10-year historical average of 12.6 times.

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H-shares, in Hong Kong dollars.

ECONOMIST: China's different share classes damage its own prospects