| China Market Update Archive: |
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Bearish Sentiment Persists in HK
Jul 03, 11:03 PM EDT |
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| Stocks in Shanghai and Hong Kong continue to struggle as bearish sentiment extends in the ninth month. Refiners and oil companies decline. |
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| Hong Kong market averages declined for the fourth day in a row led by weak financial stocks on fears of widening credit market losses. Hang Seng reached its peak in November of 31,638.22 and since then has steadily declined in the last seven months of trading but the index is still trading above August low of 20,387.13. |
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Hong Kong Stocks Fall 1.8%, Ping An Down 10%
Jul 02, 7:59 PM EDT |
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| Stocks in Hong Kong fell on earnings warning from Cathay Pacific. In Shanghai trading, Ping An Insurance dropped 10% on market rumors. |
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| Ping An Insurance fell daily limit of 10% after talks of potential loss of 12 billion yuan at one of the funds managed by the company sparked sell-off and dragged China Life down 5%. Stocks in Shanghai were unchaged but hovered near 49% loss for the year as investors shied away from the market. Hong Kong stocks fell 1.8% after Cathay Pacific suggested that first half profit will be lower than market estimate. |
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Shanghai Drops 3%
Jul 01, 6:08 PM EDT |
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| Stocks in Shanghai fall after sharp losses in bank, telecom and oil refiners. Hong Kong markets were closed. |
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| Shanghai Composite Index fell 3% as investors specluate rising interest rates in China and possible slowdown in the economy. Hong Kong stock market were close to celebrate the handover of the island from Britain. Banks and oil refiners led the decline in trading in Shanghai. Chinese foreign exchange reserve rose 18% from a year ago in the first five months to $1.8 trillion at the end of May. The steady rise in foreign exchange has contributed to the elevated inflation. |
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HK Declines 21%, Shanghai Down 48%
Jun 30, 4:25 PM EDT |
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| Stocks in Hong Kong fell in the first half 21% on the persistent credit market jitters and worries of U.S. economic slowdown. |
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| Stocks in Hong Kong fell 21% in the first half as credit market jitters dragged stocks lower. Rising energy and food prices dragged stocks in Shanghai lower in the first half as well. Stocks in Shanghai are down nearly 50% from the peak in October. Tanshan Steel and Handan Steel merge to form Hebei Steel, the largest Chinese steel company with production of 50 million tons in 2009. Shanghai CSI 300 index dropped 23% in June and lost 48% for the year. |
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Shanghai Rebounds, HK Stocks Falls
Jun 26, 3:40 PM EDT |
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| Hong Kong stocks traded lower as inflation fears persist in the region and U.S. credit market jitters drive investors on the sidelines. |
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| Regulators in China urge companies to improve their corporate governance and prevent the abuse of company capital by majority shareholders. Stocks in Shanghai and Hong Kong fell as inflation fear persist on rising energy costs. Crude oil price fell in the region. Foxconn fell 5% and Li & Fung dropped 7% on brokerage downgrades. Hong Kong companies are expected to cut production in China located factories on rising fuel and labor costs. China Development Bank takes a stake in UK based Barclays. |
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Shanghai Rebounds
Jun 25, 3:54 AM EDT |
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| Prices of prodction materials fall 0.5%. Chinese insurers pay Rmb 339 million. |
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| In Hong Kong trading Hang Seng Index gained 0.8% to 22,635.16, and the China Enterprises Index of Hong Kong listed mainland shares, or H shares, advanced 1.5% at 12,196.25. In Shanghai trading CSI 300 Index gained 4.12% or 117.62 at 2,969.54. |
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Weak Stocks in HK, Shanghai
Jun 24, 4:54 PM EDT |
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| Stocks in Shanghai fell again and traded near 55% low from its peak in November. Investors worry that rising inflation may hurt profits. |
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| Stocks in Hong Kong and Shanghai fell as inflation worries hobbled investors. Shanghai based CSI 300 index fell 2.2% and Han Seng Index in Hong Kong dropped 1.1%. Baosteel, representing Chinese steel companies agree to iron ore price increase between 80% and 96% for shipments from Rio Tinto in Australia. The sharp rise in commodity price reflects a strong demand for the iron ore and steel in China. Rio Tinto hope to ship between 320 and 420 million tons of ore. |
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China Inflation Rises
Jun 23, 3:51 PM EDT |
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| Inflation in May in China rose 5.7% from 5.4% in April. Inflation in June may rise further after the recent fuel price increase of 18%. |
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| Stocks in Shanghai fell 2% and are now 55% lower from its peak in November as inflation in May rose to 5.7%. Inflation is expected to rise in the coming months after recent fuel prices and upsurge in food price increases. Chalco, the Aluminum Corp of China fell 6% after it estimated profit decline of 50% in the first half. Sinopec slipped 2.5% after it said that the recent price hike will not be enough to generate profit. |
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Smaller Price Increase Drags Power Stocks
Jun 20, 4:46 PM EDT |
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| Petroleum refiners rose after China increased the price of fuel by 18% however power companies like Huaneng Power and Datang Power fell. |
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| Hong Kong stocks fell as the decision by the government to raise electricity and oil prices affected mainland airlines. Commodity stocks and power companies were active after China imposed a price freeze on thermal coal prices. In Shanghai trading, CSI 300 Index advanced 2.8% to 2,849.67. In Hong Kong trading Hang Seng Index edged down 0.23% to 22,745.60, rising 0.7% for the week. |
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Hong Kong Down 2%, Shanghai Plunges 7%
Jun 19, 10:50 PM EDT |
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| Stocks in Hong Kong and Shanghai fell on the expectations of rising losses at banks, elevated crude oil prices and worries related to interest rates. |
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| Stocks in Hong Kong fell 2.3% and in Shanghai plunged 7.3%. After the close China increased the retail gasoline price by 16% and diesel oil price by 18%. Electricity price will increase 4.7% from July 1. The World Bank lifted the estimate of Chinese economic growth rate to 9.8% from 9.4% on the strength in service sector and steady world wide exports. |
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