Hmm ...CHINA DOWN -5.58 % Today
Started by
Mr Dev
, Feb 27 2007 12:43 AM
4 replies to this topic
#1
Mr Dev
-
- Traders-Talk User
- 11,528 posts
Member
Posted 27 February 2007 - 12:43 AM
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#2
pdx5
-
- Traders-Talk User
- 9,528 posts
I want return OF my money more than return ON my money
Posted 27 February 2007 - 01:20 AM
China has no legal gambling except the stock market!
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#3
traderpaul
-
- Traders-Talk User
- 6,034 posts
Member
Posted 27 February 2007 - 01:54 AM
Not true.....Horse racing is big in Hong Kong....Casino is big in Macau.China has no legal gambling except the stock market!
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#4
.Blizzard
-
- Traders-Talk User
- 1,208 posts
Member
Posted 27 February 2007 - 06:32 AM
China's Stocks Have Biggest Tumble in 10 Years (9.2 percent) ; Vanke Plunges
By Zhang Shidong and Yidi Zhao
Feb. 27 (Bloomberg) -- China's stocks tumbled the most in 10 years on concern the government will crack down on illegal investments, bursting a bubble that helped drive benchmarks to records.
China Vanke Co., the nation's biggest property developer, and China United Telecommunications Corp., which controls the nation's second-largest mobile-phone operator, were among the 249 stocks that fell by the 10 percent daily limit.
``This is the first day when the bears on the index have won,'' said Liu Yang, who oversees the $421 million China Fund for Atlantis Investment Management (H.K.) Ltd. ``It's very simple to me. After very good returns, the market just wants to take a rest by using any excuse to sell.''
The Shanghai and Shenzhen 300 Index slid 250.18, or 9.2 percent, to 2457.49. The measure, which jumped 13 percent in the past six sessions, closed at a record 2707.68 yesterday. Today's rout wiped out $107.8 billion from a stock market that doubled in the past year, as 249 of the key index's 300 shares plunged by the 10 percent limit.
China's stock market capitalization, $1.16 trillion as of yesterday, is 2 percent of the global total, according to data compiled by Bloomberg.
The State Council, China's highest ruling body, has approved a special task force to clamp down on illegal share offerings and other banned activities in the market, the government said. The group will provide advice on regulations and policy explanations of the securities market, according to a statement published Feb. 25 on the central government's Web site.
Tightening Measures
The government must pay attention to ``bubbles'' in its stock market before they get out of hand, Cheng Siwei, vice chairman of the Nation's People Congress, wrote in a commentary published Feb. 6 in the Chinese-language Financial News. The Congress next convenes for an annual meeting on March 5.
``People are worried that more tightening measures may come out,'' said Mona Chung, who helps manage about $950 million at Daiwa Asset Management Ltd. in Hong Kong.
China imposes restrictions on the amount of stocks international investors can buy. UBS AG's $800 million quota is the largest among 52 overseas institutions approved to invest in mainland stocks and bonds.
Stocks surged last year after a government plan to make more than $200 billion of state-owned stock tradable revived investor demand and paved the way for sales by some of the nation's biggest companies. The economy, which in 2005 overtook the U.K. as the world's fourth biggest, averaged annual growth of 9.6 percent in the past five years.
`Psychologically Fragile'
Shares of China Vanke lost 1.58 yuan to 14.26. United Telecommunications declined 0.54 yuan to 4.89. Baoshan Iron & Steel Co., China's biggest steelmaker, slid 1 yuan, or 10 percent, to 9.03.
The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, plunged 8.8 percent to 2771.79. Today's tumble was the biggest since Feb. 18, 1997. The Shenzhen Composite Index, which covers the smaller one, dropped 8.5 percent to 709.81. The measure has surged 29 percent this year.
``The rally pushed the whole market to a level where valuations were exceptionally high and that made investors psychologically fragile,'' said Li Xuewen, who manages about $284 million at Invesco Great Wall Fund Management Co. in Shenzhen. ``There is no reason for you to be a bull on China stocks any more.''
China Minsheng Banking Corp. led declines by lenders as the central bank raised the reserve ratio this week for the fifth time in eight months, reducing funds available to commercial banks for lending.
Banks Slide
The central bank ordered lenders to set aside 10 percent of deposits from Feb. 25, up from 9.5 percent. The increase is meant to help slow down inflation and investment in the world's fastest-growing major economy.
``The reserve ratio hike has cut the amount of money banks can use for lending,'' said Yan Ji, an investment manager at HSBC Jintrust Fund Management Co. in Shanghai. ``That will hurt lenders' earnings.''
Minsheng Banking, the nation's fastest growing bank, fell 1.26 yuan, or 10 percent, to 11.37. China Merchants Bank Co., China's No. 6 lender, lost 1.51 yuan, or 9 percent, to 15.34.
Shanghai Pudong Development Bank Co., the Chinese partner of Citigroup Inc., declined 2.41 yuan, or 10 percent, to 21.85. Industrial & Commercial Bank of China Ltd., the nation's biggest listed lender, retreated 0.41 yuan, or 8 percent, to 4.69.
U.S. dollar-denominated B shares of Hainan Airlines Co., China's fourth-largest carrier that is partly held by U.S. financier George Soros, plunged 6.7 U.S. cents, or 10 percent, to 60.1 U.S. cents.
Zi Jiang Enterprise, Liuzhou Iron
Shanghai Zi Jiang Enterprise Group Co., a packaging materials maker, slid 0.44 yuan, or 10 percent, to 3.92.
Shanghai Haixin Group Co., a producer of plush fabrics, declined 0.73 yuan, or 10 percent, to 6.55. Founder Technology Group Corp., China's second-largest computer maker, slid 0.64 yuan, or 10 percent, to 5.72.
Elsewhere, Liuzhou Iron and Steel Co. surged 64 percent from its offer price to 16.46 yuan on its first day of trading in Shanghai
By Zhang Shidong and Yidi Zhao
Feb. 27 (Bloomberg) -- China's stocks tumbled the most in 10 years on concern the government will crack down on illegal investments, bursting a bubble that helped drive benchmarks to records.
China Vanke Co., the nation's biggest property developer, and China United Telecommunications Corp., which controls the nation's second-largest mobile-phone operator, were among the 249 stocks that fell by the 10 percent daily limit.
``This is the first day when the bears on the index have won,'' said Liu Yang, who oversees the $421 million China Fund for Atlantis Investment Management (H.K.) Ltd. ``It's very simple to me. After very good returns, the market just wants to take a rest by using any excuse to sell.''
The Shanghai and Shenzhen 300 Index slid 250.18, or 9.2 percent, to 2457.49. The measure, which jumped 13 percent in the past six sessions, closed at a record 2707.68 yesterday. Today's rout wiped out $107.8 billion from a stock market that doubled in the past year, as 249 of the key index's 300 shares plunged by the 10 percent limit.
China's stock market capitalization, $1.16 trillion as of yesterday, is 2 percent of the global total, according to data compiled by Bloomberg.
The State Council, China's highest ruling body, has approved a special task force to clamp down on illegal share offerings and other banned activities in the market, the government said. The group will provide advice on regulations and policy explanations of the securities market, according to a statement published Feb. 25 on the central government's Web site.
Tightening Measures
The government must pay attention to ``bubbles'' in its stock market before they get out of hand, Cheng Siwei, vice chairman of the Nation's People Congress, wrote in a commentary published Feb. 6 in the Chinese-language Financial News. The Congress next convenes for an annual meeting on March 5.
``People are worried that more tightening measures may come out,'' said Mona Chung, who helps manage about $950 million at Daiwa Asset Management Ltd. in Hong Kong.
China imposes restrictions on the amount of stocks international investors can buy. UBS AG's $800 million quota is the largest among 52 overseas institutions approved to invest in mainland stocks and bonds.
Stocks surged last year after a government plan to make more than $200 billion of state-owned stock tradable revived investor demand and paved the way for sales by some of the nation's biggest companies. The economy, which in 2005 overtook the U.K. as the world's fourth biggest, averaged annual growth of 9.6 percent in the past five years.
`Psychologically Fragile'
Shares of China Vanke lost 1.58 yuan to 14.26. United Telecommunications declined 0.54 yuan to 4.89. Baoshan Iron & Steel Co., China's biggest steelmaker, slid 1 yuan, or 10 percent, to 9.03.
The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, plunged 8.8 percent to 2771.79. Today's tumble was the biggest since Feb. 18, 1997. The Shenzhen Composite Index, which covers the smaller one, dropped 8.5 percent to 709.81. The measure has surged 29 percent this year.
``The rally pushed the whole market to a level where valuations were exceptionally high and that made investors psychologically fragile,'' said Li Xuewen, who manages about $284 million at Invesco Great Wall Fund Management Co. in Shenzhen. ``There is no reason for you to be a bull on China stocks any more.''
China Minsheng Banking Corp. led declines by lenders as the central bank raised the reserve ratio this week for the fifth time in eight months, reducing funds available to commercial banks for lending.
Banks Slide
The central bank ordered lenders to set aside 10 percent of deposits from Feb. 25, up from 9.5 percent. The increase is meant to help slow down inflation and investment in the world's fastest-growing major economy.
``The reserve ratio hike has cut the amount of money banks can use for lending,'' said Yan Ji, an investment manager at HSBC Jintrust Fund Management Co. in Shanghai. ``That will hurt lenders' earnings.''
Minsheng Banking, the nation's fastest growing bank, fell 1.26 yuan, or 10 percent, to 11.37. China Merchants Bank Co., China's No. 6 lender, lost 1.51 yuan, or 9 percent, to 15.34.
Shanghai Pudong Development Bank Co., the Chinese partner of Citigroup Inc., declined 2.41 yuan, or 10 percent, to 21.85. Industrial & Commercial Bank of China Ltd., the nation's biggest listed lender, retreated 0.41 yuan, or 8 percent, to 4.69.
U.S. dollar-denominated B shares of Hainan Airlines Co., China's fourth-largest carrier that is partly held by U.S. financier George Soros, plunged 6.7 U.S. cents, or 10 percent, to 60.1 U.S. cents.
Zi Jiang Enterprise, Liuzhou Iron
Shanghai Zi Jiang Enterprise Group Co., a packaging materials maker, slid 0.44 yuan, or 10 percent, to 3.92.
Shanghai Haixin Group Co., a producer of plush fabrics, declined 0.73 yuan, or 10 percent, to 6.55. Founder Technology Group Corp., China's second-largest computer maker, slid 0.64 yuan, or 10 percent, to 5.72.
Elsewhere, Liuzhou Iron and Steel Co. surged 64 percent from its offer price to 16.46 yuan on its first day of trading in Shanghai
#5
Mr Dev
-
- Traders-Talk User
- 11,528 posts
Member
Posted 27 February 2007 - 09:01 AM
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
