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A comment on Sony stock price spikes up 9% after Microsoft's Xbox One presentation.

Re:Sony stock price spikes up 9% after Microsoft's Xbox One ... by pdknsk on Tuesday May 21, 2013 @03:11PM (#5746019)
Can someone explain to me what the relation between NYSE:SNE and TYO:6758 is? Obviously the latter is the "real" Sony, but not traded until Tokyo opens. Do you get the same shares when you buy at NYSE? Thanks.
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Re:Sony stock price spikes up 9% after Microsoft's Xbox One ... by jmgao on Tuesday May 21, 2013 @03:23PM (#5746144)
NYSE:SNE is an ADR [1]; basically, a bank buys shares in a foreign country, and sells a receipt for those shares on a local exchange. It acts as a proxy for the foreign share, without having to deal with currency conversion/owning direct shares of a foreign company.

[1] http://en.wikipedia.org/wiki/American_depositary_receipt

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