| China Market Update Archive: |
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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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Shnaghai Stocks Surge 5%
Jun 18, 4:49 PM EDT |
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| Stocks in Shanghai surged after falling for two weeks in a row and CSI 300 index dropped as much as 50% from its peak. |
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| China and the U.S. decided to review investment criteria for both and within two countries as China looks for ways to allocate its growing foreign exchange reserve. The reserve of $1.5 trillion and growing is also losing its purchasing power as dollar declines in the international currency markets and investment barriers in the U.S. restricts the investment options. |
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Fixed Investment in China Up 26%
Jun 17, 4:01 PM EDT |
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| Fixed investment in China in the first five months rose 26% and real estate investment increased 32% from a year ago period. |
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| Stocks in Hong Kong gained but in Shanghai continue to fall. In Shanghai trading CSI 300 Index fell 3.71% or 109.57 at 2,842.68. Hong Kong Monetary Authority reported yesterday that foreign assets of Hong Kong’s Exchange Fund declined by HK$6.3 billion from April to HK$1.19 trillion in May. Total investment in the first five months increased 26% to 4 trillion yen and real estate investment rose 32% to 951 billion yen. |
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Hong Kong Production Falls, in China Rises
Jun 16, 3:44 PM EDT |
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| Industrial production in China rises on the back of a sustained rise in exports and strong domestic retail sales. |
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| Industrial production in China rose at 16% in May after rising at a rate of 15.7% in April. Producer price jumped 8.2% in the month and consumer prices rose 7.7% during the period. Hong Kong reported first quarter growth in the GDP of 9.6% and after adjusting for inflation increased at 7.1%. Hong Kong industrial production fell 4.4% in the quarter. |
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Stocks in Shanghai, HK Plunge Again
Jun 13, 3:20 PM EDT |
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| Retail sales advance 21.6% in May. Hang Seng plunges 1.87 in today’s trading and 7.4% for the week. |
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| Hong Kong stock indexes fell despite strong rise in retail sales in May after rising oil prices reinforced the uncertainty over the health of global market. The National Bureau of Statistics said retail sales jumped 21.6% to Rmb870 billion from the same month a year earlier. Also in the first five months of the year sales rose 21.1% year-on-year to Rmb4.24 trillion. Foreign investment climbed 38% to Rmb7.76 billion in May. |
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Inflation Rise in China, Trade Surplus Declines
Jun 12, 3:12 PM EDT |
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| Stocks in Hong Kong and Shanghai fell after the release of consumer price index for May. Trade surplus in May declined. |
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| Hong Kong and Shanghai stocks fell as inflation remain at elevated levels and trade surplus declined. China reported consumer price index rose 7.7% in May from 8.5% in April. The National Bureau of Statistics also noted that the producer price index advanced 8.2% from a year ago in May from 8.1% in April. Total trade surplus for the first five months ending in May for China fell 8.6% to $78.02 billion from a year earlier, and the trade surplus dropped 9.9% in May to $20.21 billion. |
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Shaghain Stocks Decline 2%
Jun 11, 4:24 PM EDT |
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| Stocks in Shanghai fell after investors worried of rising inflation. Crude oil prices fell but traded at elevated levels. |
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| Hong Kong market averages declined following the market trends in mainland trading after banks extended losses as Beijing increased its cash reserve requirement ratio for banks. Airlines and telecommunication stocks limited losses. In Shanghai trading, CSI 300 Index fell 2.07% or 6.26 at 3,150.30. In Hong Kong trading Hang Seng Index fell 0.20% or 47.92 at 23,327.60. China Netcom rose 2.2% and China Unicom increased 1.3%. However China Mobile plummeted 1.4%. |
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Stocks Plunge in China on Tighter Credit
Jun 10, 2:41 PM EDT |
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| Stocks in Shanghai and Hong Kong fell on a surprise tightening of credit requirements from the central bank. |
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| Stocks in Hong Kong and Shanghai plunged after the central bank increased cash deposit requirements for banks. The surprise decision caught investors on the wrong footing. Banks, energy and mobile telecom stocks fell. In Shanghai trading CSI 300 Index plunged 8.11% or 282.94 at 3,206.56. In Hong Kong trading Hang Seng declined 4.21% or 1,026.66 at 23,375.52. Yuan traded at a record high against dollar. |
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Yuan at Record High, Energy Stocks Rise
Jun 06, 7:24 PM EDT |
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| Stocks in Shanghai and in Hong Kong trading rose as energy prices in the region increased. |
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| Yuan rose to a record high against the U.S. dollar. Yuan rose to 6.923 to a dollar. The chinese currency gaied 5.5% so far this year after rising 6.9% in 2007. Rising crude oil price lifted stocks in the energy sector and dragged airlines stocks lower. China''s fiscal revenue rose 29.4% from the year ago and corporate income tax revenue declined 12%. |
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