| Hong kong Market Update Archive: |
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PPI in China Surges; Stocks Decline
May 09, 2:50 PM EDT |
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| Stocks in Hong Kong and Shanghai trading fell after the inflation index for April surged. Fule and metals prices lifted PPI in April. |
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| Hong Kong stocks fell on mounting concern over the health of the global economy after Vice Premier Wang Qishan said inflation has evolved as the country’s biggest economic problem, adding that Beijing will further tighten its monetary policy. Hang Seng fell 1.5% today and dropped 4.5% for the week. CSI 300 index in Shanghai trading lost 1.2% in the session. Producers Price index in April rose at 8.1% in China from a year ago and factory cost of raw materials gained 11.8% in the period. |
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Ping An Falls; HK Reserves Decline
May 08, 4:21 PM EDT |
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| Ping An Insurance fell 3.5% on the worries that the company will issue local curency class A share in China. |
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| Hong Kong reported 0.9% decline in foreign reserves in April to $160 billion and China will issue Rmb 28 billion or $4 billion of government bonds with 30 year maturity that will trade next week. Hang Seng fell 0.6% to 25,449 and CSI 300 in Shanghai trading lost 2.7% to 3,921. Refiners and airlines continue to decline as crude oil trades at a record high in the international markets. |
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Stocks in Shanghai, HK Fall
May 07, 3:28 PM EDT |
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| In Shanghai CSI 300 fell 4.7% and in Hong Kong Hang Seng declined 2.5%. Ping An fell 4.6%. |
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| Stocks in Shanghai and Hong Kong fell after the worries on global economic health resurfaced. Rising crude oil prices and falling import of copper played in the trading sentiment. Crude oil surged above $122 a barrel dragging stocks of oil refiners and marketers. China restricts the price companies can charge. China also increased regulatory oversight on management incentives given to listed companies. |
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Refiners, Airlines Fall
May 06, 5:39 PM EDT |
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| Rising crude oil prices hurt stocks of refineries and airlines. Prices of copper, zinc and aluminum fell on falling imports from China. |
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| Hong Kong stock indexes ended fractionally up in volatile trading as rising oil prices dragged stocks of airlines and oil refiners. Hang Seng Index rose 0.30% to 26,262.13, and the China Enterprises Index of Hong Kong-listed mainland companies, or H shares, increased 0.18% to 14,651.29. In Shanghai trade, CSI 300 Index fell 1.1% to 4,010.89. Crude oil futures reached a record high in Shanghai and Hong Kong trading dragging stocks of refineries and airlines. |
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HK Stocks Decline, Shanghai Up
May 05, 4:56 PM EDT |
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| Telecom stocks fell as speculation of management changes at China Unicom and China Mobile dominated trading desks. |
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| China permitted more companies to open investment management operations, however the companies remained cautious. April consumer price inflation in China is expected to be near 8%, lower than in March and February. Angang Steel jumped 4% on the reports that Arcelor Mittal and Angang are in discussions to explore merger or stake sale. Retailer Maoye International fell below its offering price of HK$3.10 on its first day of trading. |
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HK Retail Sales Rise, China Oil Demand Up
Apr 30, 3:44 PM EDT |
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| Ping An earnings rose 24% in the first quarter and profit at ICBC rose 77%. TCL Multimedia turned profitable. |
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| Hong Kong retail sales in March surge 20% and in the first quarter rose 17%, lifted by a 29% surge in auto related sales. Separately China reported crude oil consumption in the first quarter rose 8% to 91.8 million tons and consumption of petrol, diesel and kerosene rose 16.5%. Crude oil production in China rose only 2.2%. |
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Energy Stocks Rise on Rebates
Apr 29, 4:46 PM EDT |
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| Oil refiners surged after China appeared to give tentative approval for a rebate to oil refiners, prompting demand of rebate from power companies. |
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| China is expected to offer most of the value added tax as a rebate to oil refining companies to cover losses from the price control. Stock in Shanghai and Hong Kong edged higher on the news. Power generating companies surged on the hopes that similar rebate may be extended to the sector. Bank of China reported 85% rise in earnings. The earnings news lifted financial stocks but the gains were muted ahead of the U.S. Fed rate decision. China Coal surged on strong earnings. |
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China Life and PetroChina Decline
Apr 28, 1:41 PM EDT |
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| China Life fell after it reported 61% fall in earnings and PetroChina declined after it reported a loss of 32% in earnings. |
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| China Life Insurance reported first quarter earnings declined 61% on recent weakness in stock market volatility. Earnings in the quarter fell to 3.47 billion yuan from 8.89 billion yuan on 5.5 billion yuan loss in its investment portfolio. China Life relies on the stock market gains for most of its portfolio and Shanghai market has lost nearly 33% of its value in the quarter. Gross premium in the quarter rose 39.5% to 101.5 billion yuan. Bank of China earnings rose 85%. |
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Weekly Gains in HK and Shanghai
Apr 25, 2:58 PM EDT |
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| Stocks in HK and Shanghai gained on rising confidence, growing earnings and return of individual investors. |
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| Stocks in Hong Kong edged lower today but surged 5.5% for the week. In Shanghai trading stocks rose 0.8% and for the week soared 16%. The reduction in stamp duty on trading in China lifted stocks for the second day in a row. Citic Securities, Haitong Securities and China Vanke led gainers in the CSI 300 index. Air China gained 4% after it reported 147% rise in earnings. Yunnan Copper full year profit declined 47% in 2007. Bao Steel is looking to raise $8.5 in international offering. |
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Shanghai Surges 9%, PetroChina Up 10%
Apr 24, 4:30 PM EDT |
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| Stocks in Shanghai and Hong Kong surged after China lowered stamp duty on trading. Property prices are expected to rise in the second quarter. |
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| China, in a move to improve sagging sentiment among investors lowered its stamp duty tax on trading to 0.1% from 0.3%. Stock averages in China surged 9% on the move but stocks may sag again on rising inflation and growing disillusion among investors. Major indexes in China have lost at least 30% before gains of today. In Hong Kong stocks edged higher as well. Property prices are expected to rise in the second quarter as investors shift their focus away from stocks. |
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