Results tagged “stocks”

• Top officials are now considering a bailout plan worth RMB800 billion ($116 billion USD) to buy up top Chinese stocks if the Shanghai index falls below 1,500 points. The index closed at 1,859 points yesterday, but has been falling steadily since the beginning of 2008. Diligence China gives us a look at what the country's economy could look like in 18 months.
• Following yesterday's announcement that Beijing will get a boatload of new money to develop its traffic infrastructure, Chinese officials unveiled a new plan to spend RMB5 trillion over the next two years on new roads, rail and airports. Nearly half this money (RMB2.37 trillion) will be spent in Guangdong province.
• Will democracy work in China? Students at the Sun Yat-Sen University in Guangdong give it a try in their student president elections. Ironically, three of the four candidates are Communist Party members.

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.

"A stuntman filming John Woo's new movie in Beijing was killed in a bizarre fire when a small boat rammed into the set of an ancient warship, state media said on Tuesday."

http://www.shanghaidaily.com/sp/article/2008/200806/20080611/article_362763.htm"> sued for 230,000 RMB for failing to inform a mother of the possibility of a deformed fetus in the city's first lawsuit about a pregnant woman's right to understand her medical condition.

By Sue Anne Tay

By Sue Ann Tay

Recently, Tudou's Marc van der Chijs commented on how he knew the bubble in the Chinese stockmarket had to burst soon when he found out that his driver, too, had jumped headlong onto the stock bandwagon although he had zero understanding of how stockmarkets work. You will find an echo of that sentiment in Al-Jazeera's latest report on China's current stockmarket frenzy. Meanwhile, David Barboza of the New York Times says China wonders if its stock market boom is over. And as China Digital Times reports, the recent stock market crash caused a Beijing investor to attempt suicide in the Wangfujing shopping district. Video after the jump:

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...