Today's Links: HK stock market plunges, art market plunges, and Chery launching a luxury car

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  • Time to Board China's Infrastructure Train [Barrons.com] "Around 250 Chinese cities are planning to build new subway lines by 2015; the city of Changshang in central China alone is investing 22.4 billion yuan in two new subway lines." Changshang?
  • China says U.S. provoked naval confrontation [LA Times] "China blamed the United States on Tuesday for a naval confrontation in the South China Sea over the weekend, contending that an American surveillance vessel was illegally conducting activities in China's special economic zone."
  • Hoops in the Far East: A primer on China's basketball development [Sporting News] "Indeed, Yao has been away from the CBA long enough to have lost some perspective on it. But, in the coming years, the league figures to grow in importance. As crises in older economies around the world deepen, belt-tightening already has seeped into the basketball universe, with some players having trouble getting paid in Europe and with the NBA taking out a loan to prop up half of its struggling teams. China, though, is on the uptick, which figures to give its league more sway in the future."
  • Hong Kong stock commentator in tears at HSBC plunge [Breitbart] "A veteran Hong Kong stock commentator burst into tears during a live television broadcast as she saw HSBC's shares plunge dramatically seconds before the end of Monday's trading. Agnes Wu's comments on the recent volatility of the banking giant's Hong Kong-listed shares trailed off as she saw its price slump to 33 Hong Kong dollars (4.23 US) after a last-minute sell order, a clip on Cable News showed."
  • In China, Market for Contemporary Art Plunges, but Long-Term Effect Is Unclear [NYTimes.com] "A global financial crisis has wiped out vast amounts of personal wealth, prompting a plunge in art prices. Suddenly bereft of visitors, galleries are laying off staff members, and the collectors who patronized them now worry that their art investments may prove a colossal folly."
  • Chery to launch luxury Riich brand on March 18 [Gasgoo.com] "Chery Auto is set to release its luxury car brand Riich (Ruiqi) on March 18, with six models to go on sale in the high-end auto market, xinhuanet.com said today. The Chery Riich logo closely resembles that of Bentley." Yes, Riich.
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By Elaine Chow in on March 11, 2009 10:30 PM Comment 2 Likes Likes

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