| Hong kong Market Update Archive: |
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Chinese Properties Prices Rise
May 16, 7:30 PM EDT |
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| China continues its infrastructrure building at a rapid pace. The rate of building matched the rate of 25% achieved in 2007. New property prices rise. |
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| The government agency in China reported urban property prices rose 10.1% in April from a year ago and prices of new building rose 11.4% in the month. The property investment surged nearly 25% in the first four months of the year matching the rate in 2007. Shipping and container companies surged after 4% rise in Baltic Dry Index that tracks ocean freights in the world. |
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inflation Worries Drag China Stocks
May 15, 7:36 PM EDT |
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| Hang Seng index fell 0.08% or 19.77 to 25,513 and CSI 300 index in Shanghai dropped 0.7% to 3,948.10. |
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| Stocks in Shanghai and Hong Kong fell on the continued worries related to elevated inflation in the region. However, China reported that non-performing loans fell to 5.8% of all assets, lower than 6.2% at the end of the last year. Fixed asset investment increased 26% in the first four months compared to a year ago period. Separately, software services outsourcing from China rose to $10 billion in 2007. |
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Wholesal Inflation, Industrial Production Rise
May 14, 4:23 PM EDT |
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| Oil refiners fell as invesors worried that the companies may not get crude oil supply after the recent earthquake. |
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| China reported a raft of economic data suggesting that the economy continues to grow at a rapid clip. April industrial output rose at 15.7% and international trade rose at 24% in the first four months of the year. Despite a rise in wholesale inflation at 10.3%, retail sales surged at 22% in April from a year ago. However a sharp rise in food and energy costs is hobbling the consumer. In stock trading, Hong Kong Exchanges & Clearing fell after it reported earnings rise of 79%. |
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FDI Rises; April Trade Surplus of $17 B
May 13, 8:03 PM EDT |
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| Hang Seng index in Hong Kong rose 2% but CSI 300 index in Shanghai trading declined 1.4%. |
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| Foreing direct investment in China rose 60% in the first four months of the current year. Investors have been untilising the foreign investment approval but the number new manufacturing units declined. China is expected to impose minimum wage rule as of June 2008. A number of companies have also relocated to India and Vietnam as labor costs rise in China. Trade surplus in April declined 1% to $16.6 billion, a rise of 25% from March of this year. |
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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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