Results tagged “shanghaistockexchange”

• Lest we have those twin luxury towers (which were to hold the Conrad Hilton) rot in the middle of the city, the Shanghai government is now trying to orchestrate a buyout of the stalled project. [WSJ]
• Thanks to the Expo, wait times are going to be slashed to 4 minutes or less on the No. 7 subway line. We just have to wait til next year before it goes into effect. [Shanghai Daily]
• Foreign firms are allowed to list on the Shanghai stock exchange for the first time ever in an attempt to turn the city into a financial center like New York or London. [Telegraph]

Amidst the doom and gloom comes a shimmer of hope for the Shanghai bourse. NASDAQ OMX Group, the world's largest global exchange company which operates the second largest stock exchange in the U.S., eight stock exchanges across Europe and owns a third of the Dubai Stock Exchange, is seeking a Shanghai listing — a move that is said to suit policy planners here just fine as they have been long been looking at the possibility of attracting multinationals to list on mainland China. NASDAQ has already signalled its intentions to the China Securities Regulatory Commission and Shanghai Stock Exchange, but the exact timing and nature of the listing remains under discussion.

“I can't explain myself, I'm afraid, Sir, because I'm not myself you see.”

The Xinhua News Agency is reporting that China may allow foreign multinationals to list on the Shanghai Stock Exchange(SSE). SSE officials are conducting feasibility studies and companies names mentioned include HSBC Holdings Plc, Coca-Cola Co., and Siemens AG. China is under renewed international pressure to speed up its currency reform and open its financial market. Letting foreign firms trade on domestic bourses may just be the first of many steps toward integrating China into the...

And in a class all by itself, the US$1 trillion(1,000,000,000,000) club. On Monday, the 4 billion A-share offering, priced at 16.7 yuan per share, finished its first day of trading on the Shanghai Stock Exchange at 43.96 yuan, rising as high as 48 yuan intraday. At US$1.005 trillion, PetroChina’s market cap is more than twice that of its US peer, Exxon Mobil (USD $486 billion), even though Exxon Mobil generated four times as much revenue...

For those keeping scores at home, and we know you are, this is now the third installment on the on-again, off again love affair between Bear Stearns and the Chinese government sponsored investment firm, CITIC. At this point, we don't know what or whom to believe.

Earlier this week, we told you that a Chinese state owned bank is in talks to buy a stake in US investment bank, Bear Stearns. Apparently, we got some bad info, well actually Dow Jones Newswires got some bad info. See what happens when Rupert Murdoch gets involved? Anyway, today, we learned from a much more reputable publication, Shanghai Daily, that the deal is off, or something like that, here is the quote

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