30 years of reform and opening up to "Made in China" for the world well-known and recognized. In building an innovation-oriented country today, how to promote "Made in China" to "China to create a" change in how the "China create" the world recognized the urgent and important. I think that the stock market should give full play to the role of promoting the "creation of China" can be achieved.
If we breakdown of the mainland stock market from 1990 to now set up 18 Niuxiong conversion of history, some regret and surprise to find that the stock market Niuxiong conversion and the economic cycle and do not have much of the inner links. Although this 18 in the course of development, we can see looming economic development drive the market higher shadow, but "new investors to open an account City" and "promote the capital city" and "City policy" three mixed-mode has gradually become market-led, Contrary to "shadow" seems to be if not, is not so important.
Such a market, too many interpretations "Zuozhuang", "Quanqian" night暴富myth of the wealth, investment and speculation seems to have been less clear. Revelation keen on the media and pursued those low-key, mysterious makers, big, small investors also relish in these "Legends", also hopes to one day pass insider information or Zhuangtai Yun become part of the myth of such wealth.
Piequ those with "Inside Story" color of speculative transactions aside, the author and do not intend to criticize the rules of speculation, it did have an active market role. We believe that the stock market is even more important role in helping enterprises and found that the value of the future will be the value of "liquidating", which is the stock market and the promotion of innovation will be linked to the key.
There are cases for certification. At first, Microsoft listed on the Nasdaq before, but the United States many small and medium-sized IT enterprises in a successful landing after the listing of Microsoft's value has been fully discovered that Bill Gates has therefore become the world's richest man once. Microsoft's own wealth creation myth as the Nasdaq's one of the classic paradigm. Many years later, the Mainland enterprise search engine Baidu, Nasdaq completed the landing through the development process of qualitative leap. Baidu's success, "Metamorphosis", once again confirms the Nasdaq nurturing SMEs "star" of the value of discovery.
In the stock market play a "full value of that enterprise," this role at the same time, enterprises will have completed the future value of "liquidating" the process. Assume that a business has great potential of new technologies, if not through the stock market, relying on their own development, to reach the other side of success may also experience a very long process, which undoubtedly affect the overall rate of accumulation of social wealth. But if it adopted the stock market "value found" mechanism, the new technology in the future ahead of the value of "liquidating", in a very short time to complete the process of value-added assets, enterprises obtain sufficient funds to develop new markets and follow-up research and development, then it The success of the necessary follow the road will be greatly shortened. When this mechanism continue to play a role, social innovation will be an endless driving force.
This is the myth of the wealth we need. In order to restore the stock market to support innovative features, the most urgent now is to strengthen the capital market as the basis for the building of systems, and in order to guarantee the smooth progress of the system, the Government must "save the city." In the rescue process, the Government must continue to help restore investor confidence in the real positive initiatives to avoid a rescue become investors "flee" good time for the embarrassing situation. "Rescue" than "City governance" more urgent, only to "save" only possible "rule."
Whoever has the core technology and products who can not be replaced, who are successful business model, who will be moving in the stock market staged scenes of wealth creation myth. The stock market, such a system is what we really need.
2008-08-17
A series of overseas capital reduction of foreign stocks Chengquan Olympic Games Quotes
8 to 13 August, the Shanghai index fallen 300 points on the Shanghai B-shares plummeted 18.38 percent while in August, the Hong Kong Chinese shares plunge into the same "vicious circle." "This is a 'organized and premeditated' short-Olympic Quotes. Many foreign institutional investors in early August to buy state-owned enterprise index, H share index of short contracts, investors use the emotional venting of suppressing indexes profit. "Shanghai foreign banks turned from a private person, told reporters. And an interview with reporters of the domestic agencies will also have to reduce the valuation of A-shares at around 2100.
"Premeditated" the reduction of the chain
When mainland investors will crash attributed to "the Olympic Games Quotes" dashed triggered by emotional venting, some at the same time to participate in A-shares in Hong Kong equities and overseas investors, but in early August in the capital linked to buy shares of state-owned enterprises to see empty index contract , The profit of at least 10 percent.
"This is an organized wave of short selling. Of foreign capital taking advantage of instability in people's minds during the Olympic Games, short A-shares, H shares, B shares. Collapse of this round, the role of foreign capital can not be ignored." Shanghai once in a three Foreign banks did the private equity fund managers, chairman disclosed that its methods of operation, the first to buy stock index futures contracts short, and then in the secondary market are short shares index suppressed, in the futures index on profit; stabilize the stock market, such as when to The swap will be short-positions, and at a low price to buy back shares.
The information published by the HKEx, July 29, JP Morgan Chase, including the reduction of Datang Power Generation (0991. HK), in the Sea Cargo (2866. HK), Conch Cement (0914. HK), China Shenhua (1088. HK), China Ocean (1919. HK), R & F Properties (2777. HK) and Anshan Iron and Steel Company shares (0347. HK), etc., in the capital stock, cash in a trading days up to 2.95 billion Hong Kong dollar, in recent years The rare large-scale reduction of action.
Short selling of shares in the capital, not just a JP Morgan Chase. August 4, a substantial reduction of 2238, Deutsche Bank shares China Life Insurance (2628. HK); 8 on 6, Merrill Lynch sold 2,150 shares Zijin Mining (2899. HK); 8 of 8 and 11, Deng Cape Asset Management Limited and South Korea next global investment assets were reduced holdings of 1362.8 million shares of Chalco (2600. HK) and 969.2 million shares of Anshan Iron and Steel Company.
"Sell goods, the turnover of shares in the capital is often double the normal." KGI investment adviser Choi Kang iron, for example, on August 12, China Mobile (0941. HK) transaction volume of more than 7 billion Hong Kong dollar, during times of Only more than 30 billion Hong Kong dollars; August 13, China Construction Bank (0939. HK) the transaction volume of 46 billion Hong Kong dollars, usually only 1.2 billion to 1.4 billion Hong Kong dollar level.
And the underlying shares plummeted when trading volume rose echoes that received warrants to participate in the HSI index and go short of funds also increased significantly. Cai Railway Hong noted that in July this year, the warrant is received warrants turnover of around 2.8 times, but in August decreased to 1.4 times. "This means that the warrant and received a Certificate of Entitlement Cixiaobizhang the situation." Which is reflected in the index contracts is particularly clear: August 13, the HSI index of 45 per cent of the subscription agreement, 55 % Is received from the contract, the same day, state-owned enterprises received contracts accounted for as much as 87 percent, only 13% of subscription contracts.
Hong Kong Polaris Securities Investment Office Managing Director of the European Hongjie observed that the withdrawal of foreign investment in stocks is extremely significant, Morgan Fund of funds from Hong Kong every day. Europe Hongjie that foreign investors are short of the two major reasons. "First, in the performance of growth stock funds in the Olympic Games after facing great uncertainty, institutions should re-assess the investment environment and the other is the weakness in global stock market environment as a backdrop, the dollar's recent strength, but also more willing to allow agencies to return to Domestic investment and consumption. "
"Many large U.S. customers to withdraw funds from Hong Kong equities of the United States. B-share market can also see the same trend." Royal Hong Kong-managing director of financial management Chen Maofeng said.
In short selling stocks, foreign investment in the A-share market also very active. TopView data show that by the end of July is still a net purchase of the QFII, 8月初massive multi-up air; August 1 to 7, QFII by the Shanghai Huaihai Road in the business department of the total shares sold, such as seats more than 800 million yuan, parabolic A major bargaining chip, including Industrial Bank (601166. SH), China Life Insurance (601628. SH), the China Ocean (601919. SH); another QFFI numerous and Shanghai Shenyin Wanguo Xinchang Road business department, August 8 to On the 12th also changed the situation in the past bought a net, amounted to 1.9429 billion net sellers.
Floating capital smashing to the "Olympic Quotes"
Utilization of foreign capital in the operation of the market linkage means profits in the mainland is no longer secret. Therefore, when foreign capital started when a big way to go short, A-share market as a large number of idle funds will be market leader. XU Yi (a pseudonym) is in this round "from outside" to do the big air "Suibo profit," one of the private placement.
XU Yi management in Shanghai with 10 billion of funds, management of the first half of his assets shrink by 15 percent, so he has a very long time has always been careful. But six months late, "the Olympic Games Quotes" Rise, XU Yi or could not have participated in a hope that "Maping before the loss." He nearly 700 million yuan of funds distributed among the five Olympic concept stocks, such as in industry (600158. SH), Beijing Urban and Rural (600861. SH), Xidan Shopping Centre (600723. SH), and so on. Because they "are the leading varieties Olympic Quotes, stirring up a good bargaining chip." After some speculation and down, the book proceeds XU Yi has been quite impressive, in Beijing on urban and rural areas rose from 11 yuan to 16 yuan, or nearly 50 percent.
But not quickly leave the XU Yi, still patiently recreating the day down, slowly shipments. "Quotes burst before there will be a crazy, before the withdrawal of the Olympic Games is the best time point." Accident but he is the end of July, the Olympic concept of collective shares down, "shipping has become very difficult, but we can only Cheng Zhao died. "
XU Yi said that he is "Tantebuan the feelings of" greeting on August 8 the stock market closed. "The market actually opened lower, then I feel not good, but it may have to think the market rose 100 points." But wait until the afternoon trading, "the Olympic market," the rapid spread of rumors, no longer Biebu Zhu XU Yi The.
"You do not sell, the others will sell." XU Yi later that day at noon after selling Kuangyong Open, did not know who had the first shot. But certainty is that many speculators have fled, and then the set is very small. "10 million shares of a single hit on the back are not buying a stock Hua Lala also descend." On that day, Beijing's urban and rural areas only 17 million turnover, while only a two-million shares, There are not a swap.
The same scenario occurred on August 8 in the private circle of Shenzhen. "Olympic Games Unit, a Shanghai local shares plummeted, the prices of all the Olympic dream has not completely smashed. Panic mentality of mutual infection, quickly spread to the individual sections of the market." Shenzhen, chairman of a private memories of the sun, he had targeted the Prepared to risk some property stocks rebound, "also was up that morning and afternoon but with the Olympic Games shares dropped 6 percent, hastened to Paolu."
"We did not intend to hit, but one look Dashiyiqu, can not hit." Shenzhen, another private equity investment manager, Duanchao funds are investment trends. I have Fengchuicaodong will compete to flee.
"Pre-market activity and this round of the crash, the major Duanchao are a group of the idle funds." National deputy general manager of a large fund companies said. TopView data show that on August 8 and 11, before the Shanghai Stock Exchange 50 for the whole is a net outflow of hot money, "death squads" of the potential of each business.
"2100 points to consider Jiacang"
"A current Suoliang shares plummeted non-normal." Shanghai brokerage, research director of the mainstream, less than 500 billion daily turnover on the market selling small, and the crash is the main reason "to undertake Was very weak, and are willing to buy at this time the agency is too small. "
Topview data show that on August 8 and 11, the Shanghai stock market fund transactions totalling 17.206 billion yuan, a net inflow of 9.595 billion yuan of funds is to buy major force. However, other agencies did not follow the action, brokerage firms, insurance agencies, such as transaction volume of only 4.727 billion yuan, net capital outflow of 380 million yuan.
"Market confidence is very fragile, almost no new funding approach." South of a large fund company vice president said that on August 8 to South China (601766. SH) purchase funds to thaw, the market has not improved. And the North two large fund companies are more bluntly: "fell 21 points, we consider Jiacang."
"We have the mentality has changed, not Ganmai reasonable valuation, we have to wait until when the guts to underestimate the value of sorting chips." Everbright Securities Department deputy general manager of asset management and investment director Lu Wei believes that although the current dynamic in the Shanghai and Shenzhen 300 Tracker rate has dropped to 15 times, but remains unwilling to the reasons for admission. "The current bodies to take a conservative strategy, such as 30 times price-earnings ratio of Chinese medicine shares fell 25 times, food and beverages hit the valuation of 30 times the following, Ganqu bought."
In fact, A stock valuations are reasonable or not this a slump in the industry to be discussed. "Using price-earnings ratio indicators, A shares are cheap, but with Shi Jinglv valuation method is very expensive." Shenzhen management of a trust product of three private equity chairman admits that his A-share valuations are very confused , But would prefer a reasonable valuation of the view.
"The market in 2700 points to 2800 points, the corresponding Shijing Shuai is 3.1 times. If the fallen 2,200 points, Shi Jingshuai valuation of 2.5 times a very reasonable." Shenzhen, general manager of a private placement that judgement.
However, some institutional investors say that, A shares with the International side, "Shi Jingshuai 2 times the only reasonable valuation, the corresponding points out of 1,800 points." Shenzhen a large asset management, general manager of brokerage firms that take into account the second half of the economy Slowdown and the reduction of the size of the non-pressure, A shares valued at around it in 2000.
August 14, A Unit volume set nearly 21-month low, still shows the current point of no incremental capital, "the blood." The industry believes that the economic downturn as investors worried about the unabated, A shares will further lower the valuation of focus, but the pace will slow down. "This situation can be expected to change after the Olympics."
Popularity Survey
Olympic Quotes with "empty"
Nearly half of the respondents believe that this round of decline, on the Topix index may be lowered 1800; Asked about the reasons for the sharp decline in stock prices, nearly 70% of institutional investors think it is the collective view space, about 20% of investors think And on the withdrawal of foreign capital. The full results of this survey show that the Olympic Games Quotes charged with "empty", also slid low market confidence. For example, 48.9 percent of investors think the third quarter, the central line of Jiancang has no chance.
This survey of three other issues, the results also reflect the collective loss of investors. First, what measures can decline »more than half of the answer is" favorable for launch ", in the face of weak market, investors still hope that the government actions; secondly, whether there will be the third quarter, the central line of Jiancang opportunity» 48.9 percent of investors do not think there; Third, the most optimistic about the second half of the investment direction »choice" other sections "accounted for 40 per cent, higher than the" concept of reorganization "and" financial property "- Not long before, the two major themes of this Was considered to be the focus of the next stage of the market.
Source: China Business Lu Yuan -
"Premeditated" the reduction of the chain
When mainland investors will crash attributed to "the Olympic Games Quotes" dashed triggered by emotional venting, some at the same time to participate in A-shares in Hong Kong equities and overseas investors, but in early August in the capital linked to buy shares of state-owned enterprises to see empty index contract , The profit of at least 10 percent.
"This is an organized wave of short selling. Of foreign capital taking advantage of instability in people's minds during the Olympic Games, short A-shares, H shares, B shares. Collapse of this round, the role of foreign capital can not be ignored." Shanghai once in a three Foreign banks did the private equity fund managers, chairman disclosed that its methods of operation, the first to buy stock index futures contracts short, and then in the secondary market are short shares index suppressed, in the futures index on profit; stabilize the stock market, such as when to The swap will be short-positions, and at a low price to buy back shares.
The information published by the HKEx, July 29, JP Morgan Chase, including the reduction of Datang Power Generation (0991. HK), in the Sea Cargo (2866. HK), Conch Cement (0914. HK), China Shenhua (1088. HK), China Ocean (1919. HK), R & F Properties (2777. HK) and Anshan Iron and Steel Company shares (0347. HK), etc., in the capital stock, cash in a trading days up to 2.95 billion Hong Kong dollar, in recent years The rare large-scale reduction of action.
Short selling of shares in the capital, not just a JP Morgan Chase. August 4, a substantial reduction of 2238, Deutsche Bank shares China Life Insurance (2628. HK); 8 on 6, Merrill Lynch sold 2,150 shares Zijin Mining (2899. HK); 8 of 8 and 11, Deng Cape Asset Management Limited and South Korea next global investment assets were reduced holdings of 1362.8 million shares of Chalco (2600. HK) and 969.2 million shares of Anshan Iron and Steel Company.
"Sell goods, the turnover of shares in the capital is often double the normal." KGI investment adviser Choi Kang iron, for example, on August 12, China Mobile (0941. HK) transaction volume of more than 7 billion Hong Kong dollar, during times of Only more than 30 billion Hong Kong dollars; August 13, China Construction Bank (0939. HK) the transaction volume of 46 billion Hong Kong dollars, usually only 1.2 billion to 1.4 billion Hong Kong dollar level.
And the underlying shares plummeted when trading volume rose echoes that received warrants to participate in the HSI index and go short of funds also increased significantly. Cai Railway Hong noted that in July this year, the warrant is received warrants turnover of around 2.8 times, but in August decreased to 1.4 times. "This means that the warrant and received a Certificate of Entitlement Cixiaobizhang the situation." Which is reflected in the index contracts is particularly clear: August 13, the HSI index of 45 per cent of the subscription agreement, 55 % Is received from the contract, the same day, state-owned enterprises received contracts accounted for as much as 87 percent, only 13% of subscription contracts.
Hong Kong Polaris Securities Investment Office Managing Director of the European Hongjie observed that the withdrawal of foreign investment in stocks is extremely significant, Morgan Fund of funds from Hong Kong every day. Europe Hongjie that foreign investors are short of the two major reasons. "First, in the performance of growth stock funds in the Olympic Games after facing great uncertainty, institutions should re-assess the investment environment and the other is the weakness in global stock market environment as a backdrop, the dollar's recent strength, but also more willing to allow agencies to return to Domestic investment and consumption. "
"Many large U.S. customers to withdraw funds from Hong Kong equities of the United States. B-share market can also see the same trend." Royal Hong Kong-managing director of financial management Chen Maofeng said.
In short selling stocks, foreign investment in the A-share market also very active. TopView data show that by the end of July is still a net purchase of the QFII, 8月初massive multi-up air; August 1 to 7, QFII by the Shanghai Huaihai Road in the business department of the total shares sold, such as seats more than 800 million yuan, parabolic A major bargaining chip, including Industrial Bank (601166. SH), China Life Insurance (601628. SH), the China Ocean (601919. SH); another QFFI numerous and Shanghai Shenyin Wanguo Xinchang Road business department, August 8 to On the 12th also changed the situation in the past bought a net, amounted to 1.9429 billion net sellers.
Floating capital smashing to the "Olympic Quotes"
Utilization of foreign capital in the operation of the market linkage means profits in the mainland is no longer secret. Therefore, when foreign capital started when a big way to go short, A-share market as a large number of idle funds will be market leader. XU Yi (a pseudonym) is in this round "from outside" to do the big air "Suibo profit," one of the private placement.
XU Yi management in Shanghai with 10 billion of funds, management of the first half of his assets shrink by 15 percent, so he has a very long time has always been careful. But six months late, "the Olympic Games Quotes" Rise, XU Yi or could not have participated in a hope that "Maping before the loss." He nearly 700 million yuan of funds distributed among the five Olympic concept stocks, such as in industry (600158. SH), Beijing Urban and Rural (600861. SH), Xidan Shopping Centre (600723. SH), and so on. Because they "are the leading varieties Olympic Quotes, stirring up a good bargaining chip." After some speculation and down, the book proceeds XU Yi has been quite impressive, in Beijing on urban and rural areas rose from 11 yuan to 16 yuan, or nearly 50 percent.
But not quickly leave the XU Yi, still patiently recreating the day down, slowly shipments. "Quotes burst before there will be a crazy, before the withdrawal of the Olympic Games is the best time point." Accident but he is the end of July, the Olympic concept of collective shares down, "shipping has become very difficult, but we can only Cheng Zhao died. "
XU Yi said that he is "Tantebuan the feelings of" greeting on August 8 the stock market closed. "The market actually opened lower, then I feel not good, but it may have to think the market rose 100 points." But wait until the afternoon trading, "the Olympic market," the rapid spread of rumors, no longer Biebu Zhu XU Yi The.
"You do not sell, the others will sell." XU Yi later that day at noon after selling Kuangyong Open, did not know who had the first shot. But certainty is that many speculators have fled, and then the set is very small. "10 million shares of a single hit on the back are not buying a stock Hua Lala also descend." On that day, Beijing's urban and rural areas only 17 million turnover, while only a two-million shares, There are not a swap.
The same scenario occurred on August 8 in the private circle of Shenzhen. "Olympic Games Unit, a Shanghai local shares plummeted, the prices of all the Olympic dream has not completely smashed. Panic mentality of mutual infection, quickly spread to the individual sections of the market." Shenzhen, chairman of a private memories of the sun, he had targeted the Prepared to risk some property stocks rebound, "also was up that morning and afternoon but with the Olympic Games shares dropped 6 percent, hastened to Paolu."
"We did not intend to hit, but one look Dashiyiqu, can not hit." Shenzhen, another private equity investment manager, Duanchao funds are investment trends. I have Fengchuicaodong will compete to flee.
"Pre-market activity and this round of the crash, the major Duanchao are a group of the idle funds." National deputy general manager of a large fund companies said. TopView data show that on August 8 and 11, before the Shanghai Stock Exchange 50 for the whole is a net outflow of hot money, "death squads" of the potential of each business.
"2100 points to consider Jiacang"
"A current Suoliang shares plummeted non-normal." Shanghai brokerage, research director of the mainstream, less than 500 billion daily turnover on the market selling small, and the crash is the main reason "to undertake Was very weak, and are willing to buy at this time the agency is too small. "
Topview data show that on August 8 and 11, the Shanghai stock market fund transactions totalling 17.206 billion yuan, a net inflow of 9.595 billion yuan of funds is to buy major force. However, other agencies did not follow the action, brokerage firms, insurance agencies, such as transaction volume of only 4.727 billion yuan, net capital outflow of 380 million yuan.
"Market confidence is very fragile, almost no new funding approach." South of a large fund company vice president said that on August 8 to South China (601766. SH) purchase funds to thaw, the market has not improved. And the North two large fund companies are more bluntly: "fell 21 points, we consider Jiacang."
"We have the mentality has changed, not Ganmai reasonable valuation, we have to wait until when the guts to underestimate the value of sorting chips." Everbright Securities Department deputy general manager of asset management and investment director Lu Wei believes that although the current dynamic in the Shanghai and Shenzhen 300 Tracker rate has dropped to 15 times, but remains unwilling to the reasons for admission. "The current bodies to take a conservative strategy, such as 30 times price-earnings ratio of Chinese medicine shares fell 25 times, food and beverages hit the valuation of 30 times the following, Ganqu bought."
In fact, A stock valuations are reasonable or not this a slump in the industry to be discussed. "Using price-earnings ratio indicators, A shares are cheap, but with Shi Jinglv valuation method is very expensive." Shenzhen management of a trust product of three private equity chairman admits that his A-share valuations are very confused , But would prefer a reasonable valuation of the view.
"The market in 2700 points to 2800 points, the corresponding Shijing Shuai is 3.1 times. If the fallen 2,200 points, Shi Jingshuai valuation of 2.5 times a very reasonable." Shenzhen, general manager of a private placement that judgement.
However, some institutional investors say that, A shares with the International side, "Shi Jingshuai 2 times the only reasonable valuation, the corresponding points out of 1,800 points." Shenzhen a large asset management, general manager of brokerage firms that take into account the second half of the economy Slowdown and the reduction of the size of the non-pressure, A shares valued at around it in 2000.
August 14, A Unit volume set nearly 21-month low, still shows the current point of no incremental capital, "the blood." The industry believes that the economic downturn as investors worried about the unabated, A shares will further lower the valuation of focus, but the pace will slow down. "This situation can be expected to change after the Olympics."
Popularity Survey
Olympic Quotes with "empty"
Nearly half of the respondents believe that this round of decline, on the Topix index may be lowered 1800; Asked about the reasons for the sharp decline in stock prices, nearly 70% of institutional investors think it is the collective view space, about 20% of investors think And on the withdrawal of foreign capital. The full results of this survey show that the Olympic Games Quotes charged with "empty", also slid low market confidence. For example, 48.9 percent of investors think the third quarter, the central line of Jiancang has no chance.
This survey of three other issues, the results also reflect the collective loss of investors. First, what measures can decline »more than half of the answer is" favorable for launch ", in the face of weak market, investors still hope that the government actions; secondly, whether there will be the third quarter, the central line of Jiancang opportunity» 48.9 percent of investors do not think there; Third, the most optimistic about the second half of the investment direction »choice" other sections "accounted for 40 per cent, higher than the" concept of reorganization "and" financial property "- Not long before, the two major themes of this Was considered to be the focus of the next stage of the market.
Source: China Business Lu Yuan -
2008-08-10
American International Group, the net loss for three consecutive quarters
The world's largest insurer American International Group (AIG) 6 issued earnings reports that as credit default swaps, and other business losses, in the second quarter of the group for the third-quarter net loss.
财报显示, AIG second quarter net loss of 5.36 billion U.S. dollars, a year earlier to 4.28 billion U.S. dollars profit. The first quarter of this year group loss 7.81 billion U.S. dollars.
The second quarter, AIG Credit default swaps in the loss reached 5.57 billion U.S. dollars; general insurance business income fell 54 percent to 1.39 billion U.S. dollars, from life insurance and retirement services operating income fell 10 percent to 2.6 billion U.S. dollars; In addition, the provision of personal housing mortgage loans consumer finance business in a loss of 22 million U.S. dollars.
AIG CEO Robert »Weierlunsi Montand said that the Group's management will be the end of September announced a plan to help the group through difficult times and re-raise corporate value.
As AIG in the crisis in the loan-to-severe attack on former CEO Martin »Sullivan in June this year, be removed from office, the former Citibank executive Weierlunsi Montand successor to the post. (-)
财报显示, AIG second quarter net loss of 5.36 billion U.S. dollars, a year earlier to 4.28 billion U.S. dollars profit. The first quarter of this year group loss 7.81 billion U.S. dollars.
The second quarter, AIG Credit default swaps in the loss reached 5.57 billion U.S. dollars; general insurance business income fell 54 percent to 1.39 billion U.S. dollars, from life insurance and retirement services operating income fell 10 percent to 2.6 billion U.S. dollars; In addition, the provision of personal housing mortgage loans consumer finance business in a loss of 22 million U.S. dollars.
AIG CEO Robert »Weierlunsi Montand said that the Group's management will be the end of September announced a plan to help the group through difficult times and re-raise corporate value.
As AIG in the crisis in the loan-to-severe attack on former CEO Martin »Sullivan in June this year, be removed from office, the former Citibank executive Weierlunsi Montand successor to the post. (-)
Wall Street stocks closed with the soaring oil prices fall
Oil prices fell, the dollar was rising, and other factors, Wall Street Friday the three major market indexes have gained more than 2 percentage points. The Dow rose 302.89 points to 11734.32 points, or 2.65 percent for the Standard & Poor's 500 index rose 30.25 points to 1296.32 points, or 2.39 percent, the Nasdaq composite index rose 58.37 points to 2414.10 points, or 2.48 percent. The Dow yesterday because of the financial sector reported bad news and the loss of major financial institutions earnings data loss caused panic all Taicuo and nearly fell 225 points. Today, the Dow morning also by Fannie second quarter net loss of 2.3 billion U.S. dollars under the influence of earnings data was substantially decreased.
Throughout the week, the Dow rose 408.00 points, or 3.60 percent for the Standard & Poor's 500 index rose 36.01 points, or 2.86 percent, the Nasdaq composite index rose 103.14 points, or 4.46 percent.
Bond prices fell, 10-year Treasury yields from 3.93 percent yesterday to 3.94 percent. The New York Mercantile Exchange crude oil futures prices dropped 4.82 U.S. dollars a barrel to close at 115.20 U.S. dollars.
The company, Fannie Mae fell 90 cents to 9.05 U.S. dollars, or nine percent. McDonald's rose 3.81 to 65.67 U.S. dollars, or 6.2 percent, the day trading hit a record high 66.24 U.S. dollars. American Airlines UAL rose 1.52 U.S. dollars to close at 11.13 U.S. dollars, or 16 percent. Wei Sheer 5000 Dow Jones index closed up 308.92 points at 13197.13 points, or 2.40 percent, lower than the same period last year 14641.03 points.
Other foreign market trading, the Nikkei Index was up 0.33 percent; British FTSE 100 index was up 0.21 percent, Germany's DAX index rose 0.28 percent, France's CAC-40 index rose 0.77 percent.
Throughout the week, the Dow rose 408.00 points, or 3.60 percent for the Standard & Poor's 500 index rose 36.01 points, or 2.86 percent, the Nasdaq composite index rose 103.14 points, or 4.46 percent.
Bond prices fell, 10-year Treasury yields from 3.93 percent yesterday to 3.94 percent. The New York Mercantile Exchange crude oil futures prices dropped 4.82 U.S. dollars a barrel to close at 115.20 U.S. dollars.
The company, Fannie Mae fell 90 cents to 9.05 U.S. dollars, or nine percent. McDonald's rose 3.81 to 65.67 U.S. dollars, or 6.2 percent, the day trading hit a record high 66.24 U.S. dollars. American Airlines UAL rose 1.52 U.S. dollars to close at 11.13 U.S. dollars, or 16 percent. Wei Sheer 5000 Dow Jones index closed up 308.92 points at 13197.13 points, or 2.40 percent, lower than the same period last year 14641.03 points.
Other foreign market trading, the Nikkei Index was up 0.33 percent; British FTSE 100 index was up 0.21 percent, Germany's DAX index rose 0.28 percent, France's CAC-40 index rose 0.77 percent.
A sharp drop in stock prices low valuation stocks hit by an "overweight tide"
Recently the Hong Kong stock market volatile, the majority of the shares of listed companies has greatly decreased. However, with the recent disclosure of interim results of intensive, some companies Chibengongsi shares by major shareholders of the phenomenon continued to increase. At the same time, some large organizations have accelerated the pace of overweight.
Analysts said the decline in stock prices due to have returned to more reasonable valuations, coupled with interim results revealed that sales fell, and so the release of negative factors, stock holdings at this time is a good opportunity.
Major shareholders holdings become common practice
Hong Kong Stock Exchange data showed that only one day last Friday, HKEx submitted to repurchase shares of listed companies, including Bank of East Asia, New World Department Store, and other companies, the number of repurchase, the amount of all the recent new record high.
HKEx data show that the Bank of East Asia (00023. HK) Chairman and Chief Executive Officer DAVID LI recently spent 3.24 million Hong Kong dollar, the average price per share to 32.44 Hong Kong dollar holdings 10 million shares of the Company, its shareholding from 2.53% Increased to 2.54 percent.
DAVID LI in the performance after the company announced Bannian Bao made the decision, the company announced the interim report showed that half year net profit of 894 million Hong Kong dollar, a sharp decline in the same period last year, 52.4 percent; operating income of 3.816 billion Hong Kong dollar total, down 14.8 %.
Tai Fook Securities research report said the Bank of East Asia in 2008 Shijing Shuai has fallen to 1.6 times that of the control valuation of the calendar year it is very attractive, long-term investors enter the market is a good time. The report said the Bank of East Asia, the new target price of 41.70 Hong Kong dollar, equivalent to two times the Shijing Shuai, the mainland business and diversified service fee revenue base is still the Group advantage.
Sun Hung Kai Properties (00016. HK) last week issued a notice, said the company major shareholders Guoshi family through family holdings 11 million shares of the Trust Fund, the Hong Kong dollar 110.091 average price per share, for 12.11 million Hong Kong dollar funding.
Major shareholders of the company stock holdings also include: to Jin Lee Group (00304. HK) Chairman Cham-a-week notice last week said it would holdings of 154 million shares, or an average price of 3.893 Hong Kong dollar, from 34.91 percent shareholding To 35%; sun Chairman Yang Zhenxin enterprises (Yang Chiu) overweight million shares in 1600, the average price per share of 3.6 Hong Kong dollar, the shareholding from 50.8 percent to 52.31 percent.
It is worth noting that real estate companies large holdings of shares common shareholders, in addition to the above Sun Hung Kai Properties, a show of Health, all the property, letters and home buyers have also recently announced that the major shareholder of the company shares will be overweight.
Agencies Buganjimo
In fact, apart from major shareholders by Chibengongsi stock, recently, some well-known institutional investors also have stock holdings, in addition to the earlier reports of an investment company Danyang Zhao five Wumart commercial holdings, including the Kai Leiji , GIA, Commonwealth Bank of Australia.
HKEx data show that the investment fund Carlyle CAGP LP recently said it will step overweight special international 487.3 million, or an average price of 2.696 Hong Kong dollar, the shareholding increased to 9.31 percent from 9.53 percent; Government of Singapore Investment Corporation (GIC) overweight, 31.2 million shares of Shanghai Petrochemical, Hong Kong dollar 2.495 average price per share, shareholding increased to 5.99 percent from 6.01 percent; asset management companies Lazard Asset Management head of the international holdings 5153.4 million shares, the average price per share 2.357 Hong Kong dollar, the shareholding increased to 4.48 percent from 5.18 percent.
In addition, the Commonwealth Bank of Australia (Commonwealth Bank of Australia) holdings in China's telecommunications services on the basis of 700 million shares, holdings China Resources Enterprise (00291. HK) 132 million, or an average price of 20.309 Hong Kong dollar, from holding 9.95% to 10.01%.
Analysts said the decline in stock prices due to have returned to more reasonable valuations, coupled with interim results revealed that sales fell, and so the release of negative factors, stock holdings at this time is a good opportunity.
Major shareholders holdings become common practice
Hong Kong Stock Exchange data showed that only one day last Friday, HKEx submitted to repurchase shares of listed companies, including Bank of East Asia, New World Department Store, and other companies, the number of repurchase, the amount of all the recent new record high.
HKEx data show that the Bank of East Asia (00023. HK) Chairman and Chief Executive Officer DAVID LI recently spent 3.24 million Hong Kong dollar, the average price per share to 32.44 Hong Kong dollar holdings 10 million shares of the Company, its shareholding from 2.53% Increased to 2.54 percent.
DAVID LI in the performance after the company announced Bannian Bao made the decision, the company announced the interim report showed that half year net profit of 894 million Hong Kong dollar, a sharp decline in the same period last year, 52.4 percent; operating income of 3.816 billion Hong Kong dollar total, down 14.8 %.
Tai Fook Securities research report said the Bank of East Asia in 2008 Shijing Shuai has fallen to 1.6 times that of the control valuation of the calendar year it is very attractive, long-term investors enter the market is a good time. The report said the Bank of East Asia, the new target price of 41.70 Hong Kong dollar, equivalent to two times the Shijing Shuai, the mainland business and diversified service fee revenue base is still the Group advantage.
Sun Hung Kai Properties (00016. HK) last week issued a notice, said the company major shareholders Guoshi family through family holdings 11 million shares of the Trust Fund, the Hong Kong dollar 110.091 average price per share, for 12.11 million Hong Kong dollar funding.
Major shareholders of the company stock holdings also include: to Jin Lee Group (00304. HK) Chairman Cham-a-week notice last week said it would holdings of 154 million shares, or an average price of 3.893 Hong Kong dollar, from 34.91 percent shareholding To 35%; sun Chairman Yang Zhenxin enterprises (Yang Chiu) overweight million shares in 1600, the average price per share of 3.6 Hong Kong dollar, the shareholding from 50.8 percent to 52.31 percent.
It is worth noting that real estate companies large holdings of shares common shareholders, in addition to the above Sun Hung Kai Properties, a show of Health, all the property, letters and home buyers have also recently announced that the major shareholder of the company shares will be overweight.
Agencies Buganjimo
In fact, apart from major shareholders by Chibengongsi stock, recently, some well-known institutional investors also have stock holdings, in addition to the earlier reports of an investment company Danyang Zhao five Wumart commercial holdings, including the Kai Leiji , GIA, Commonwealth Bank of Australia.
HKEx data show that the investment fund Carlyle CAGP LP recently said it will step overweight special international 487.3 million, or an average price of 2.696 Hong Kong dollar, the shareholding increased to 9.31 percent from 9.53 percent; Government of Singapore Investment Corporation (GIC) overweight, 31.2 million shares of Shanghai Petrochemical, Hong Kong dollar 2.495 average price per share, shareholding increased to 5.99 percent from 6.01 percent; asset management companies Lazard Asset Management head of the international holdings 5153.4 million shares, the average price per share 2.357 Hong Kong dollar, the shareholding increased to 4.48 percent from 5.18 percent.
In addition, the Commonwealth Bank of Australia (Commonwealth Bank of Australia) holdings in China's telecommunications services on the basis of 700 million shares, holdings China Resources Enterprise (00291. HK) 132 million, or an average price of 20.309 Hong Kong dollar, from holding 9.95% to 10.01%.
N. Olympic Games after the mainland's economic JPMorgan H shares mad by the city to escape fear
2.95 billion Hong Kong dollar
JP Morgan Chase on July 29 in the reduction of the 10-unit, a total cash of about 2.95 billion Hong Kong dollar, in recent years for the rare large-scale reduction of action.
According to the information the Hong Kong Stock Exchange, JP Morgan Chase (JPMorgan Chase) 7massive reduction in funding for many stocks, generating nearly 30 billion Hong Kong dollars. Funding has always been in favor of JP Morgan Chase shares the day volume reduction of 10 H shares of move, the market speculation and accidents, more than singing in the Olympic Games after the economy, the bank actually on the market the next few months pessimistic about the prospects . The Hong Kong stock market on the Olympic concept stocks continued weakness also shows that the market economy after N. Olympics.
JP Morgan Chase fear the city to escape
Perhaps smell is a potential crisis, JP Morgan Chase this action very strongly underweight. Information, JP Morgan Chase on July 29 more than the reduction of the shares in the capital, including Datang Power Generation, in the Sea Cargo, China Property Insurance, Yanzhou, Conch Cement, China Communications Construction, China Shenhua, China Ocean, F Real estate and Anshan Iron and Steel Company shares. According to agency statistics, the total cash the same day Morgan Chase about 2.95 billion Hong Kong dollar, in recent years for the rare large-scale reduction of action.
More than 10 per H-shares are not blue chips, the industry leader, but it is also sought after popular popular H-shares. In addition, 10 shares in the eight are listed in two places at the same time shares, which are shares of Anshan Iron and Steel Company, Datang Power Generation, in the Sea Cargo, Yanzhou, China Shenhua, Conch Cement and China Ocean. July 29, in addition to shares of Anshan Iron and Steel Company and Conch Cement stocks AH hung upside down, the other six A-share stocks are more H-share premium, AH against the shares ranged from 1.31 to 2.35. Analysts pointed out that since the two listed stocks to mutual influence, perhaps the A-share market is the pessimistic atmosphere of the JP Morgan H shares corresponding to a cautious mood.
The reduction in the crazy, JP Morgan Chase's report is optimistic about the economy after the Olympics. JP Morgan Chase that the Olympic Games to China the third quarter, a very small impact on economic growth, and the Olympics after China's economic slowdown is unlikely.
JP Morgan Chase reported that China is ready to host the Olympic Games and the large number of sports facilities, road construction and other industries will benefit directly, the Olympic Games will enhance the image of China and Beijing, to attract more investment. From the past Olympic host country's experience, greater economies of scale and relatively fast economic growth of the Olympic Games host country susceptible to the impact of the Olympic Games, the Olympics will be held on China's economic impact than some people expected.
Fu Lin, general manager of the Hong Kong Securities Chang Nien told a weekly financial news, although the market is not completely pessimistic about the economy after the Olympics, but N. investors a few investors. As China's economy by the export support, from July onwards, to crack down on Chinese exports, the PRD related businesses have closed down. The recent decline in resources stocks heavy, reflecting reduced export orders, reduced demand for raw materials. The recent market is more pessimistic about the performance of the mainstream point of view. He personally believes that the recent pullback in the international oil prices, the global economy in trouble. Hong Kong stocks throughout August will be a short city, but may rebound in September.
Olympic shares continued to weaken
2008 Beijing Olympics opening day, the stock market became the focus of attention on the Olympic concept stocks failed to decline, and thoroughly smash the previous investors in the "Olympic Quotes" vision.
From the disk, with the concept of the Olympic Sports Unit Anta Sports (2020. HK), shipping stocks Capital Airport (0694. HK), China International Aviation (0753. HK) and property stocks SOHO China (0410. HK), Mr Michael Tien Industrial (0588. HK), and so different from the stock yesterday showed the rate of decline. Among them, Mr Michael Tien, the largest decrease, down 6.699 percent, to 1.95 Hong Kong dollar, followed by Air China, fell 4.282 percent to close at 3.8 Hong Kong dollar; Anta or 2.044 percent, to 5.75 Hong Kong dollar; Capital Airport or 2.764 percent, Hong Kong dollar at 5.98; SOHO China or 3.382 percent, to 4.0 Hong Kong dollar.
Oriental Morning Post, a weekly financial news / Kim Beilei
JP Morgan Chase on July 29 in the reduction of the 10-unit, a total cash of about 2.95 billion Hong Kong dollar, in recent years for the rare large-scale reduction of action.
According to the information the Hong Kong Stock Exchange, JP Morgan Chase (JPMorgan Chase) 7massive reduction in funding for many stocks, generating nearly 30 billion Hong Kong dollars. Funding has always been in favor of JP Morgan Chase shares the day volume reduction of 10 H shares of move, the market speculation and accidents, more than singing in the Olympic Games after the economy, the bank actually on the market the next few months pessimistic about the prospects . The Hong Kong stock market on the Olympic concept stocks continued weakness also shows that the market economy after N. Olympics.
JP Morgan Chase fear the city to escape
Perhaps smell is a potential crisis, JP Morgan Chase this action very strongly underweight. Information, JP Morgan Chase on July 29 more than the reduction of the shares in the capital, including Datang Power Generation, in the Sea Cargo, China Property Insurance, Yanzhou, Conch Cement, China Communications Construction, China Shenhua, China Ocean, F Real estate and Anshan Iron and Steel Company shares. According to agency statistics, the total cash the same day Morgan Chase about 2.95 billion Hong Kong dollar, in recent years for the rare large-scale reduction of action.
More than 10 per H-shares are not blue chips, the industry leader, but it is also sought after popular popular H-shares. In addition, 10 shares in the eight are listed in two places at the same time shares, which are shares of Anshan Iron and Steel Company, Datang Power Generation, in the Sea Cargo, Yanzhou, China Shenhua, Conch Cement and China Ocean. July 29, in addition to shares of Anshan Iron and Steel Company and Conch Cement stocks AH hung upside down, the other six A-share stocks are more H-share premium, AH against the shares ranged from 1.31 to 2.35. Analysts pointed out that since the two listed stocks to mutual influence, perhaps the A-share market is the pessimistic atmosphere of the JP Morgan H shares corresponding to a cautious mood.
The reduction in the crazy, JP Morgan Chase's report is optimistic about the economy after the Olympics. JP Morgan Chase that the Olympic Games to China the third quarter, a very small impact on economic growth, and the Olympics after China's economic slowdown is unlikely.
JP Morgan Chase reported that China is ready to host the Olympic Games and the large number of sports facilities, road construction and other industries will benefit directly, the Olympic Games will enhance the image of China and Beijing, to attract more investment. From the past Olympic host country's experience, greater economies of scale and relatively fast economic growth of the Olympic Games host country susceptible to the impact of the Olympic Games, the Olympics will be held on China's economic impact than some people expected.
Fu Lin, general manager of the Hong Kong Securities Chang Nien told a weekly financial news, although the market is not completely pessimistic about the economy after the Olympics, but N. investors a few investors. As China's economy by the export support, from July onwards, to crack down on Chinese exports, the PRD related businesses have closed down. The recent decline in resources stocks heavy, reflecting reduced export orders, reduced demand for raw materials. The recent market is more pessimistic about the performance of the mainstream point of view. He personally believes that the recent pullback in the international oil prices, the global economy in trouble. Hong Kong stocks throughout August will be a short city, but may rebound in September.
Olympic shares continued to weaken
2008 Beijing Olympics opening day, the stock market became the focus of attention on the Olympic concept stocks failed to decline, and thoroughly smash the previous investors in the "Olympic Quotes" vision.
From the disk, with the concept of the Olympic Sports Unit Anta Sports (2020. HK), shipping stocks Capital Airport (0694. HK), China International Aviation (0753. HK) and property stocks SOHO China (0410. HK), Mr Michael Tien Industrial (0588. HK), and so different from the stock yesterday showed the rate of decline. Among them, Mr Michael Tien, the largest decrease, down 6.699 percent, to 1.95 Hong Kong dollar, followed by Air China, fell 4.282 percent to close at 3.8 Hong Kong dollar; Anta or 2.044 percent, to 5.75 Hong Kong dollar; Capital Airport or 2.764 percent, Hong Kong dollar at 5.98; SOHO China or 3.382 percent, to 4.0 Hong Kong dollar.
Oriental Morning Post, a weekly financial news / Kim Beilei
2008-08-01
Quan Jude to "Olympics" theme repeatedly stir-fried
Recently, a friend of the QQ Xiaohua changed the name of "Feishang Tian duck," because her hands on the shares are replaced by the fat ducks - Quan Jude (002,186 to close at 54.88 yuan). At the same time, she also joined a special group of ducks QQ, the people inside have the same goal - in this Olympic plate on the leading arms in a bite!
Xiaohua QQ on the left in three sentences:
"If you do not have tickets for the Olympic Games, then buy 100 shares Quan Jude!"
"Resolutely Prestige Olympic duck, 60 yuan lower than the price Zaguomaitie boldly buy!"
"Build a concussion at the end of W, Quan Jude by the wind over the Olympic high!"
Xiaohua desperate to recover income, this is only speculation investors Quan Jude in miniature.
Investors sought after "Olympic duck"
With the Olympics approaching, all the frenzied speculation Olympic warm plate is a wave Saiguo wave. Yesterday was the first day of August, Quan Jude not to be outdone, the contrarian on the day-after rising as a shock to a high of 56.45 yuan.
Zida Quan Jude the market, with the Olympics on this subject for a duck to fly cupola. To enter in mid-December last year, eight limit for Quan Jude shares nearly 40 yuan from 78.56 yuan a Biaosheng Zhi. For a time, Quan Jude became the focus of attention of all parties. Thus, we see such a scene, someone entered 50 yuan, 60 yuan to recover some, it was抢to 70 yuan, Quan Jude's shares in sought after we boarded in the sky.
This year, with the A-shares fell, Quan Jude shares also began to fall, the minimum was hit by 34 yuan, to recover the high initial investors to enter the tears. The second quarter, Quan Jude's shares in the stimulation of the Olympic Games, two Chonggao, which is also set to enter into a more investors follow suit.
The concept a bit excessive speculation
Quan Jude last year, less than 0.6 yuan per share, in 2008 mid-year net profit is expected to decline 10 percent to 20 percent. Quan Jude the current stock price more than 54 yuan, static price-earnings ratio has reached 90 times. Many analysts catering to its evaluation of the surprisingly consistent: "too expensive!"
The day before yesterday, Quan Jude announced that the company's operating profit-the first source - Qianmen Beijing on August 7 will be re-opened. This people can not help but think of a focal issue, Quan Jude in the end the Olympic Games can bring great benefits »
Bohai Securities analyst report released earlier said that if the former store can be opened before the Olympics, the 2008 contribution income of about 60 million yuan, the profit contribution of about 15.5 million yuan, the impact of only 0.1 yuan per share. In the interview, almost all the analysts said: "Even though the Olympics are good, the market also excessive speculation!" Bohai Securities analyst, told reporters that at present, the market many high-quality stocks are only about 10 times the Price-earnings ratio, the valuation of dining plates slightly higher, 30 times to 40 times on almost, Quan Jude currently nearly 90 times the static price-earnings ratio, you have the excesses.
Early April, the German stock Quan Jude from a high of 78 yuan fell 42 yuan nearby. At the same time, more than 10 brokerage firms that report, Quan Jude good growth performance, but not enough to support the current stock price, short-term valuation too high, given the "sell" rating. More than 20 yuan into the hearts of the overwhelming majority of institutions the ideal price.
Regardless of all those early recovery of those who now have the depth apply. Shares in it, many in more than 70 yuan crazy to investors hope to become self, and the huge losses also let them lack the courage Gerou. Crazy when the bubble burst, these investors to become the biggest victim of this duck.
Xiaohua QQ on the left in three sentences:
"If you do not have tickets for the Olympic Games, then buy 100 shares Quan Jude!"
"Resolutely Prestige Olympic duck, 60 yuan lower than the price Zaguomaitie boldly buy!"
"Build a concussion at the end of W, Quan Jude by the wind over the Olympic high!"
Xiaohua desperate to recover income, this is only speculation investors Quan Jude in miniature.
Investors sought after "Olympic duck"
With the Olympics approaching, all the frenzied speculation Olympic warm plate is a wave Saiguo wave. Yesterday was the first day of August, Quan Jude not to be outdone, the contrarian on the day-after rising as a shock to a high of 56.45 yuan.
Zida Quan Jude the market, with the Olympics on this subject for a duck to fly cupola. To enter in mid-December last year, eight limit for Quan Jude shares nearly 40 yuan from 78.56 yuan a Biaosheng Zhi. For a time, Quan Jude became the focus of attention of all parties. Thus, we see such a scene, someone entered 50 yuan, 60 yuan to recover some, it was抢to 70 yuan, Quan Jude's shares in sought after we boarded in the sky.
This year, with the A-shares fell, Quan Jude shares also began to fall, the minimum was hit by 34 yuan, to recover the high initial investors to enter the tears. The second quarter, Quan Jude's shares in the stimulation of the Olympic Games, two Chonggao, which is also set to enter into a more investors follow suit.
The concept a bit excessive speculation
Quan Jude last year, less than 0.6 yuan per share, in 2008 mid-year net profit is expected to decline 10 percent to 20 percent. Quan Jude the current stock price more than 54 yuan, static price-earnings ratio has reached 90 times. Many analysts catering to its evaluation of the surprisingly consistent: "too expensive!"
The day before yesterday, Quan Jude announced that the company's operating profit-the first source - Qianmen Beijing on August 7 will be re-opened. This people can not help but think of a focal issue, Quan Jude in the end the Olympic Games can bring great benefits »
Bohai Securities analyst report released earlier said that if the former store can be opened before the Olympics, the 2008 contribution income of about 60 million yuan, the profit contribution of about 15.5 million yuan, the impact of only 0.1 yuan per share. In the interview, almost all the analysts said: "Even though the Olympics are good, the market also excessive speculation!" Bohai Securities analyst, told reporters that at present, the market many high-quality stocks are only about 10 times the Price-earnings ratio, the valuation of dining plates slightly higher, 30 times to 40 times on almost, Quan Jude currently nearly 90 times the static price-earnings ratio, you have the excesses.
Early April, the German stock Quan Jude from a high of 78 yuan fell 42 yuan nearby. At the same time, more than 10 brokerage firms that report, Quan Jude good growth performance, but not enough to support the current stock price, short-term valuation too high, given the "sell" rating. More than 20 yuan into the hearts of the overwhelming majority of institutions the ideal price.
Regardless of all those early recovery of those who now have the depth apply. Shares in it, many in more than 70 yuan crazy to investors hope to become self, and the huge losses also let them lack the courage Gerou. Crazy when the bubble burst, these investors to become the biggest victim of this duck.
Why the surge of global stock market fell »
The first part, the disk: Global stock markets rose, A stock movements involved real estate, and steel plate
July 31, the sharp rebound in U.S. stocks continue to see the A-share market failed to arouse the confidence of investors, stock prices Thursday morning in Shanghai and Shenzhen exchanges were slightly higher at 7.92 points and 19.72 points, showed there all the way down the trend of unilateralism . From the disk movement, the beginning of the iron and steel, real estate stocks led the index driven stock prices closed lower after a section of small and emerging trend of diving, Daidao ICBC, CCB and other banks the right to re-join the ranks quickly fell, Hu Zhi放量down, at one stroke Breakdown 2800 juncture, the firm early on the 10th, 30-day MA also fell again.午盘concussion index gained momentum, "Emmanuel Zhaxian", with the turnover shrinking again, to return to the Wuliang Yindie the trend, closing approaching, a wave of放量Shadie, Hu Zhi finally close at 2775.72 points, down 2.15 %. Shen Chengzhi to close at 9470.33 points, down 2.53 percent. And the trend of stocks on the plate, the weight weak trend, shares themes atmosphere downturn, stocks Pudie plate and the situation clearly, aviation section, real estate, cement, etc. decreases were larger, plate index has dropped more than 4 percent. From the index involved in the iron and steel, real estate, cement and other sections of the situation, the stock market is still not out of the shadow of macroeconomic regulation and control.
Idle funds, all were transferred to other battlefields. On the contrary, Shanghai, local and non-ferrous metal plate and stocks relatively good.
The second part, the days exclusive indicators and the compass card win Fu: The cattle continue to be reduced by Xiong Tandi, and funding of capital outflow mainly QFII
Thursday the Shanghai and Shenzhen Niugu 453, 350 bears, mule Unit 693. (Wednesday the Shanghai and Shenzhen Niugu 969, Unit 107 bears, mule Unit 424). Thursday Niugu suddenly reduce the number of shows that the market pullback will obviously. Xiong increase in the number of shares, but the mule still large number of shares, investors still room for change was great. Need more information to consider policy-level impact of the proposed operation on the number of shares due to Niuxiong mule close to a bear market in this market investors should see more of the less dynamic, lowered support at the opportunity to consider Dixi. Shang Jiaosuo authorized by the compass win rich data, the last several trading days, the inflow of funds in the market mainly to the Fund, and funding of capital outflow and the QFII mainly retail investors have begun to outflow. Investors are also proposed funding level has been mainly observed.
Definition: Bear shares means that the drop from the running of the stock; Niugu means that the rise from the running of the stock; mule Unit is Niuxiong boundaries between Ridge shares.
The third part of investors: a Dixi lowered support at the opportunity, pay attention to the "rebound led the industry"
The trend in technology: Thursday K-Line form on the formation of Yinxian nearly shaved head walked barefoot, wearing Wuliang Yindie under MA, stock prices have hit lows of the recent rise in triangular shape the next track, the latter part of the trend, the trend of stock prices Friday Will be the key point is the variable-region, if we continue to Suliangyindie breakthrough or triangular shape, the latter part of the trend will continue to seek more favorable under the bottom of a box to support the movement of shocks.
2665,2565 investors support at the regional points.
Investors need to pay attention to is: (a) 31 on the evening of the changes in international oil prices and its suspension on Thursday the China Petroleum and the impact of the trend Friday. Oil prices rebound frustrated, continued to fall, then rebound in the stock market for the benefit. After all, Sinopec has not yet fallen below short-term increase in channel.
(B) from the current management's determination to increase the Weiwen background, the number of investors in the end may be introduced substantive positive «If the" saliva Weiwen "does not work, Wei Wen substantive measures will be introduced, Need to pay close attention to the dynamic changes in the policy level.
(C) in the current sluggish market environment, we can support at every new shares and concern about the trend of the new shares, in principle, each lowered support at Dixi chips are a better opportunity to pay attention to the need to select Band rebound occupy leading position in the industry. Continue to pay attention to the non-cyclical mentioned in this column early pharmaceutical industry stocks, small and medium-sized plate of new shares in the stock issue price not much higher than with equity expansion of capacity and performance growth, the major new Jiancang varieties.
(4) continue to evade the cyclical industries such as steel or high cost of the disadvantaged sections. Contents of the article was supplied by MarketWatch, does not constitute investment advice. Investors this operation, own risk.
If would like to know in detail the specific changes in the stocks of funds, investment certificates days can call the hotline :00-58378060
Tianjin Securities Investment Consulting Company
July 31, the sharp rebound in U.S. stocks continue to see the A-share market failed to arouse the confidence of investors, stock prices Thursday morning in Shanghai and Shenzhen exchanges were slightly higher at 7.92 points and 19.72 points, showed there all the way down the trend of unilateralism . From the disk movement, the beginning of the iron and steel, real estate stocks led the index driven stock prices closed lower after a section of small and emerging trend of diving, Daidao ICBC, CCB and other banks the right to re-join the ranks quickly fell, Hu Zhi放量down, at one stroke Breakdown 2800 juncture, the firm early on the 10th, 30-day MA also fell again.午盘concussion index gained momentum, "Emmanuel Zhaxian", with the turnover shrinking again, to return to the Wuliang Yindie the trend, closing approaching, a wave of放量Shadie, Hu Zhi finally close at 2775.72 points, down 2.15 %. Shen Chengzhi to close at 9470.33 points, down 2.53 percent. And the trend of stocks on the plate, the weight weak trend, shares themes atmosphere downturn, stocks Pudie plate and the situation clearly, aviation section, real estate, cement, etc. decreases were larger, plate index has dropped more than 4 percent. From the index involved in the iron and steel, real estate, cement and other sections of the situation, the stock market is still not out of the shadow of macroeconomic regulation and control.
Idle funds, all were transferred to other battlefields. On the contrary, Shanghai, local and non-ferrous metal plate and stocks relatively good.
The second part, the days exclusive indicators and the compass card win Fu: The cattle continue to be reduced by Xiong Tandi, and funding of capital outflow mainly QFII
Thursday the Shanghai and Shenzhen Niugu 453, 350 bears, mule Unit 693. (Wednesday the Shanghai and Shenzhen Niugu 969, Unit 107 bears, mule Unit 424). Thursday Niugu suddenly reduce the number of shows that the market pullback will obviously. Xiong increase in the number of shares, but the mule still large number of shares, investors still room for change was great. Need more information to consider policy-level impact of the proposed operation on the number of shares due to Niuxiong mule close to a bear market in this market investors should see more of the less dynamic, lowered support at the opportunity to consider Dixi. Shang Jiaosuo authorized by the compass win rich data, the last several trading days, the inflow of funds in the market mainly to the Fund, and funding of capital outflow and the QFII mainly retail investors have begun to outflow. Investors are also proposed funding level has been mainly observed.
Definition: Bear shares means that the drop from the running of the stock; Niugu means that the rise from the running of the stock; mule Unit is Niuxiong boundaries between Ridge shares.
The third part of investors: a Dixi lowered support at the opportunity, pay attention to the "rebound led the industry"
The trend in technology: Thursday K-Line form on the formation of Yinxian nearly shaved head walked barefoot, wearing Wuliang Yindie under MA, stock prices have hit lows of the recent rise in triangular shape the next track, the latter part of the trend, the trend of stock prices Friday Will be the key point is the variable-region, if we continue to Suliangyindie breakthrough or triangular shape, the latter part of the trend will continue to seek more favorable under the bottom of a box to support the movement of shocks.
2665,2565 investors support at the regional points.
Investors need to pay attention to is: (a) 31 on the evening of the changes in international oil prices and its suspension on Thursday the China Petroleum and the impact of the trend Friday. Oil prices rebound frustrated, continued to fall, then rebound in the stock market for the benefit. After all, Sinopec has not yet fallen below short-term increase in channel.
(B) from the current management's determination to increase the Weiwen background, the number of investors in the end may be introduced substantive positive «If the" saliva Weiwen "does not work, Wei Wen substantive measures will be introduced, Need to pay close attention to the dynamic changes in the policy level.
(C) in the current sluggish market environment, we can support at every new shares and concern about the trend of the new shares, in principle, each lowered support at Dixi chips are a better opportunity to pay attention to the need to select Band rebound occupy leading position in the industry. Continue to pay attention to the non-cyclical mentioned in this column early pharmaceutical industry stocks, small and medium-sized plate of new shares in the stock issue price not much higher than with equity expansion of capacity and performance growth, the major new Jiancang varieties.
(4) continue to evade the cyclical industries such as steel or high cost of the disadvantaged sections. Contents of the article was supplied by MarketWatch, does not constitute investment advice. Investors this operation, own risk.
If would like to know in detail the specific changes in the stocks of funds, investment certificates days can call the hotline :00-58378060
Tianjin Securities Investment Consulting Company
Multiple positive Zhuzhang dollars
U.S. The Conference Board's consumer confidence index in July from June touched the low of 16 rose to 51.9, stop the continuous decline in six months, showed that U.S. consumer confidence recovered.
Technically, the dollar index in 12 weeks, the downward trend line break is very likely, likely to start next intermediate rally. However, the short-term dollar index will be encountered in the vicinity of 73.85 weeks on the rail line near the Brin resistance, short-term support in the vicinity of 72.80. The corresponding euro against the dollar in the medium-term goal down below 1.5450, resistance in the short-term rebound in the vicinity of 1.57 British pound fell against the dollar medium-term objectives in the vicinity of 1.96, 1.99 short-term rebound resistance in the vicinity of the dollar against the yen of resistance at around 108.40 or 109.20, Support in the vicinity of 106.80.
Technically, the dollar index in 12 weeks, the downward trend line break is very likely, likely to start next intermediate rally. However, the short-term dollar index will be encountered in the vicinity of 73.85 weeks on the rail line near the Brin resistance, short-term support in the vicinity of 72.80. The corresponding euro against the dollar in the medium-term goal down below 1.5450, resistance in the short-term rebound in the vicinity of 1.57 British pound fell against the dollar medium-term objectives in the vicinity of 1.96, 1.99 short-term rebound resistance in the vicinity of the dollar against the yen of resistance at around 108.40 or 109.20, Support in the vicinity of 106.80.
Concerns about the U.S. official employment report
Technical analysis
The euro / dollar a consolidation trend, to close at 1.5580 U.S. dollars. U.S. stocks closed sharply higher on the 30th, to further boost the dollar. Is expected to exchange rate is expected to lowered 1.5303. 1.5625 built in the proposed short positions, the initial target 1.5492, stop loss at 1.5668.
Sterling / dollar as low as 1.9800 level, the United Kingdom in July Gfk Consumer Confidence Index fell to -39, the former value of -34, the lowest since the 1974 level. By this continue to drag down the greenback, closing at 1.9804 U.S. dollars in Asia. Expected the greenback will continue to downlink, the proposed short positions built in the 1.9807 target 1.9712, stop loss at 1.9854.
Aussie / dollar this morning, Australia June retail sales unexpectedly fell and the Australian central bank data showed weaker-than-expected private sector credit, the Australian dollar fell, hit the first low of 0.9450. Short-term rate is expected to be dropped on July 13 low of 0.9333. 0.9505 built in the proposed short positions, objectives 0.9403, stop loss at 0.9539.
The euro / dollar a consolidation trend, to close at 1.5580 U.S. dollars. U.S. stocks closed sharply higher on the 30th, to further boost the dollar. Is expected to exchange rate is expected to lowered 1.5303. 1.5625 built in the proposed short positions, the initial target 1.5492, stop loss at 1.5668.
Sterling / dollar as low as 1.9800 level, the United Kingdom in July Gfk Consumer Confidence Index fell to -39, the former value of -34, the lowest since the 1974 level. By this continue to drag down the greenback, closing at 1.9804 U.S. dollars in Asia. Expected the greenback will continue to downlink, the proposed short positions built in the 1.9807 target 1.9712, stop loss at 1.9854.
Aussie / dollar this morning, Australia June retail sales unexpectedly fell and the Australian central bank data showed weaker-than-expected private sector credit, the Australian dollar fell, hit the first low of 0.9450. Short-term rate is expected to be dropped on July 13 low of 0.9333. 0.9505 built in the proposed short positions, objectives 0.9403, stop loss at 0.9539.
Wall Street economic data overall impact of the three major market indexes were down sharply
The United States Thursday announced second-quarter GDP data and unemployment figures last week were disappointing. People on the health of the financial system again Heart suspected. Today, oil prices dropped slightly and Bristol-Myers Squibb and ImClone pharmaceutical pharmaceutical reached 4.5 billion U.S. dollars deal of good news for investors more or less brought some joy. But still can not stop Wall Street stocks set Bengdie today. The Dow fell 205.67 points to 11378.02 points, or 1.78 percent for the Standard & Poor's 500 index fell 16.88 points to 1267.38 points, or 1.31 percent, the Nasdaq composite index fell 4.17 points to 2325.55 points, or 0.18 percent. July the Dow rose 0.25 percent; superscript Puzhang 0.99 percent, the Nasdaq composite index rose 1.42 percent, statistics show that slightly better than in June. The Russell 2000 index of small and medium companies fell 4.34 points to 714.52 points, or 0.60 percent.
The 10-year Treasury yields from 4.05 percent yesterday, fell to 3.95 percent today. The New York Mercantile Exchange, light sweet crude prices dropped 2.69 U.S. dollars a barrel to close at 124.08 U.S. dollars.
The company, ExxonMobil fell 3.95 to 80.43 U.S. dollars, or 4.7 percent of Motorola rose 96 cents to 8.64 U.S. dollars, or 12.5 percent; Disney fell 1.32 to 30.35 U.S. dollars, a decrease of 4.2%; Kodak or 1.13 Dollars to 14.64 U.S. dollars, a decrease of 7.2 percent. ImClone drug rose from 17.49 to 63.93 U.S. dollars, or 37.7%; Bristol-Myers fell 39 cents to 21.12 U.S. dollars.
New York Stock Exchange trading volume of 51.6 million shares, compared with yesterday's slightly more of 5.06 billion shares. Value rose less than 3 to 2 ratio decreased value.
The 10-year Treasury yields from 4.05 percent yesterday, fell to 3.95 percent today. The New York Mercantile Exchange, light sweet crude prices dropped 2.69 U.S. dollars a barrel to close at 124.08 U.S. dollars.
The company, ExxonMobil fell 3.95 to 80.43 U.S. dollars, or 4.7 percent of Motorola rose 96 cents to 8.64 U.S. dollars, or 12.5 percent; Disney fell 1.32 to 30.35 U.S. dollars, a decrease of 4.2%; Kodak or 1.13 Dollars to 14.64 U.S. dollars, a decrease of 7.2 percent. ImClone drug rose from 17.49 to 63.93 U.S. dollars, or 37.7%; Bristol-Myers fell 39 cents to 21.12 U.S. dollars.
New York Stock Exchange trading volume of 51.6 million shares, compared with yesterday's slightly more of 5.06 billion shares. Value rose less than 3 to 2 ratio decreased value.
With the A-share index rise 800 points downturn firm Commissioner 22,800 points
Friday, Wall Street the Dow plummeted, A Huzhi stocks lower early shocks. Hong Kong stocks, the Hong Kong Hang Seng Index opened 233 points lower, at 22207.31 points minimum, the day to close at 22862.60 points, up 131.50 points, or 0.58 percent; China Enterprises Index at 12545.22 points, up 38.48 or 0.31 percent red-chip index at 4736.32 points, up 26.80 points, or 0.57 percent.
2008-07-31
Fund position: Olympic Weiwen crucial period will not be large stock sell-off
China Securities News
Stocks rose despite a row, but yesterday the market is still hope for the Olympic Games Quotes plight of investors feel like into the Bingku Long, Shangzhengzengzhi fell 60 points, two cities home a few stocks fell to 1562, rising only a few homes To 130.
"The market should not be the main seller, the Fund will not usually choose to sell shares at this time a lot." Number of fund investors told reporters. They believe that yesterday's crash, the main reason is lack of market impetus to do more, many of which funds and other institutional investors in the market Weiwen, such as multiple factors to consider, not a lot to sell the stock, but obviously the will of the Fund also Jiacang Small, less selling would enable the market tumbled.
Judgement on the differences between the big investors
During the recent disclosure of the Fund Quarterly Bulletin, can be found not to the Olympic Games Quotes Jiudeng and continuous decline in recent clue: on the third quarter, the judgement of the market there are more differences, some of which the Fund is also more pessimistic about the market that the market in three Quarter of the possibility of reversal is not great. Optimistic about the fund are not many investors, cautious wait-and-see attitude of fund managers accounted for the majority. Positions from the point of view, equity funds (except the QDII) positions the second quarter average 73 percent, slightly higher than the 2000 average of 71 percent, while the A-share valuation than the average level of 40 per cent discount. Thus, the Fund for investors more cautious.
It is understood that a pessimistic attitude on the market, a fund manager of macroeconomic bottomed out whether there is a greater concern, they said in the Quarterly Bulletin, high oil prices, high inflation on China's macro-economic constitute enormous pressure in the upper reaches of resources continued to Prices and lower reaches of the poor prices conduction circumstances, a new round of rising costs and declining demand for middle and lower reaches of the manufacturing sector will likely cause of the declining level of the economy, the market has been worried that corporate profits fell entities, the fundamentals are deteriorating May become a reality, the future profitability of the listed company's downside risk may not fully reflected in current stock prices, the market's understanding of this point Pianyu still optimistic.
Because the economy have not optimistic expectations, so this part of funds to the market recognized the valuation reasonable, and that is not up for, although the Shanghai and Shenzhen 300 stock average has been less than dynamic price-earnings ratio of 18 times, taking into account the market shares issued, Performance of growth and other factors, the overall market PE is indeed an unprecedented level of the low, but the valuation of nature is expected to reflect on the economy, expected no change in the economic, valuation levels are difficult to change.
Taking into account these factors, the Fund for the positions of the increase can be said to be very careful, many fund managers believe that the current trigger an opportunity to rebound or less, in the absence of a clear signal appeared relaxed before the stock positions still need to seriously improve.
Fund quietly optimistic approach
Optimistic about the same distinctive point of view. There are fund managers think that the market reaction to the macroeconomic downlink has been excessive, the market continued down the risk has been substantially less, can maintain relatively high positions and wait for the emergence of market opportunities. One of the fund managers believe that the third quarter of 2007 the valuation of confusion, investors are now in a reverse confusion. But needs to be pointed out is that this optimism is clearly not the number of funds, do not force more powerful, but in some stocks, have reduced its shares fell kinetic energy.
TOPVIEW According to the statistics, the Fund can be found quietly admitted this part of the shadow. For example, Ping An of China (601,318), China Ocean (601,919), China Life Insurance (601,628), China Merchants Bank (600036), Shanghai Pudong Development Bank (600000), and other blue chips, since some of the recent fund buying has been substantial, such as the July 28 One day, Ping An of China (601,318) net buying before the 10 seats, the Fund accounted for six, sold a net 10 seats in the first, the Fund accounts for only 2; China Merchants Bank (600036) to buy a net of 10 seats in the , The Fund accounted for 9, the day before sold a net 10 seats, the Fund accounts for only five, 10 and the amount of net buying 88.84 million yuan. 10 much larger than the amount of net selling 34.06 million yuan. It is part of the holdings of this part of the stock yesterday, the decreased generally smaller.
In addition, yesterday's fall of the stock less the second quarter also includes holdings of Chinese Medicine Unit. In the second quarter, equity fund holders a total of 23,243 million shares of pharmaceutical stocks, shares market value of 6.094 billion yuan, and at the end of the first quarter of this year compared to 20,949 million shares to increase holdings, market value of 3.5796 billion yuan holdings, Topline Express medicine (600,276), Yu Yue Medical (002,223), Hong margin of medicine (600,557), and other pharmaceutical stocks were also mostly in smaller shows that the fund has not been a lot of them sell, or even overweight.
Stocks rose despite a row, but yesterday the market is still hope for the Olympic Games Quotes plight of investors feel like into the Bingku Long, Shangzhengzengzhi fell 60 points, two cities home a few stocks fell to 1562, rising only a few homes To 130.
"The market should not be the main seller, the Fund will not usually choose to sell shares at this time a lot." Number of fund investors told reporters. They believe that yesterday's crash, the main reason is lack of market impetus to do more, many of which funds and other institutional investors in the market Weiwen, such as multiple factors to consider, not a lot to sell the stock, but obviously the will of the Fund also Jiacang Small, less selling would enable the market tumbled.
Judgement on the differences between the big investors
During the recent disclosure of the Fund Quarterly Bulletin, can be found not to the Olympic Games Quotes Jiudeng and continuous decline in recent clue: on the third quarter, the judgement of the market there are more differences, some of which the Fund is also more pessimistic about the market that the market in three Quarter of the possibility of reversal is not great. Optimistic about the fund are not many investors, cautious wait-and-see attitude of fund managers accounted for the majority. Positions from the point of view, equity funds (except the QDII) positions the second quarter average 73 percent, slightly higher than the 2000 average of 71 percent, while the A-share valuation than the average level of 40 per cent discount. Thus, the Fund for investors more cautious.
It is understood that a pessimistic attitude on the market, a fund manager of macroeconomic bottomed out whether there is a greater concern, they said in the Quarterly Bulletin, high oil prices, high inflation on China's macro-economic constitute enormous pressure in the upper reaches of resources continued to Prices and lower reaches of the poor prices conduction circumstances, a new round of rising costs and declining demand for middle and lower reaches of the manufacturing sector will likely cause of the declining level of the economy, the market has been worried that corporate profits fell entities, the fundamentals are deteriorating May become a reality, the future profitability of the listed company's downside risk may not fully reflected in current stock prices, the market's understanding of this point Pianyu still optimistic.
Because the economy have not optimistic expectations, so this part of funds to the market recognized the valuation reasonable, and that is not up for, although the Shanghai and Shenzhen 300 stock average has been less than dynamic price-earnings ratio of 18 times, taking into account the market shares issued, Performance of growth and other factors, the overall market PE is indeed an unprecedented level of the low, but the valuation of nature is expected to reflect on the economy, expected no change in the economic, valuation levels are difficult to change.
Taking into account these factors, the Fund for the positions of the increase can be said to be very careful, many fund managers believe that the current trigger an opportunity to rebound or less, in the absence of a clear signal appeared relaxed before the stock positions still need to seriously improve.
Fund quietly optimistic approach
Optimistic about the same distinctive point of view. There are fund managers think that the market reaction to the macroeconomic downlink has been excessive, the market continued down the risk has been substantially less, can maintain relatively high positions and wait for the emergence of market opportunities. One of the fund managers believe that the third quarter of 2007 the valuation of confusion, investors are now in a reverse confusion. But needs to be pointed out is that this optimism is clearly not the number of funds, do not force more powerful, but in some stocks, have reduced its shares fell kinetic energy.
TOPVIEW According to the statistics, the Fund can be found quietly admitted this part of the shadow. For example, Ping An of China (601,318), China Ocean (601,919), China Life Insurance (601,628), China Merchants Bank (600036), Shanghai Pudong Development Bank (600000), and other blue chips, since some of the recent fund buying has been substantial, such as the July 28 One day, Ping An of China (601,318) net buying before the 10 seats, the Fund accounted for six, sold a net 10 seats in the first, the Fund accounts for only 2; China Merchants Bank (600036) to buy a net of 10 seats in the , The Fund accounted for 9, the day before sold a net 10 seats, the Fund accounts for only five, 10 and the amount of net buying 88.84 million yuan. 10 much larger than the amount of net selling 34.06 million yuan. It is part of the holdings of this part of the stock yesterday, the decreased generally smaller.
In addition, yesterday's fall of the stock less the second quarter also includes holdings of Chinese Medicine Unit. In the second quarter, equity fund holders a total of 23,243 million shares of pharmaceutical stocks, shares market value of 6.094 billion yuan, and at the end of the first quarter of this year compared to 20,949 million shares to increase holdings, market value of 3.5796 billion yuan holdings, Topline Express medicine (600,276), Yu Yue Medical (002,223), Hong margin of medicine (600,557), and other pharmaceutical stocks were also mostly in smaller shows that the fund has not been a lot of them sell, or even overweight.
Olympic stock market may be Weiwen
Jintao
At present, the Olympic Games opening ceremony on the front, while the stock market but did not appear the majority of investors expect the Olympic Games Quotes. We believe that the so-called Olympic market, may ultimately simply a Bushangbuxia "Weiwen" Quotes.
In a certain period of time, stock prices in a range of fluctuation, neither up nor down the movement of the market, may be the "Weiwen" Quotes. After all, in management, the collapse could lead to instability, but also the possible consequences skyrocketing. If understanding of this point, the recent stock market in the various "strange phenomenon" is not difficult to understand:
"Weiwen," but not substantive initiatives. From the authority of the media to the general media, from top to the experts, the recent market investors hear the most is the "Weiwen," but only see articles and comments, but did not see substantive initiatives. Since we are optimistic about the Olympic Games market, no substantive positive initiatives, Weiwen to achieve the same purpose. "Weiwen" is a substantive negative. Since we are optimistic about the Olympic Games market, also negative points to Wu Fang. Conversely, if there is no negative pressure roof, jumped in the Olympic Games Quotes how to do »So, in that everyone before the Olympic Games there will be no market share issue and listing of the background, it ushered in the South to the issuance of shares. "Weiwen" has become a peripheral or A-share market rose, the external market or A-shares fall to more "independent" market. Perhaps this may be the only explanation: 2566.53 points from the rebound, the market has already gained a lot of.
Of course, in the following two circumstances, "Wei Wen," Quotes may be broken: first, "Wei Wen," not only stay in words, become a substantive action, such as the size of influx of non-lifting of the ban has been effectively checked, the major stock market The scale of the financing plan was shelved, stabilization funds, such as direct intervention. Second, the pressure on the stock market was further enlarged, such as Everbright Securities, China's construction market share of the IPO, the shares following the South to continue in the short term after the release of the next August the size of the non-lifting of the ban still failed to respond to specific measures. "Weiwen," was the first break, a break up, have a real so-called Olympic market, and the second case, due to market confidence from the hit, the market continued to slump and record low, or even to 2300 or even 2000 points The following points. Have fallen for six months, there is as high as 60 percent of the huge decline in the A-share market, investors may expect is the first outcome! But the reality is likely, and so much more than a Bushangbuxia the "peacekeeping Stable "market.
(The author is on the Häfele vein, chairman of the Investment Management Co., Ltd.)
At present, the Olympic Games opening ceremony on the front, while the stock market but did not appear the majority of investors expect the Olympic Games Quotes. We believe that the so-called Olympic market, may ultimately simply a Bushangbuxia "Weiwen" Quotes.
In a certain period of time, stock prices in a range of fluctuation, neither up nor down the movement of the market, may be the "Weiwen" Quotes. After all, in management, the collapse could lead to instability, but also the possible consequences skyrocketing. If understanding of this point, the recent stock market in the various "strange phenomenon" is not difficult to understand:
"Weiwen," but not substantive initiatives. From the authority of the media to the general media, from top to the experts, the recent market investors hear the most is the "Weiwen," but only see articles and comments, but did not see substantive initiatives. Since we are optimistic about the Olympic Games market, no substantive positive initiatives, Weiwen to achieve the same purpose. "Weiwen" is a substantive negative. Since we are optimistic about the Olympic Games market, also negative points to Wu Fang. Conversely, if there is no negative pressure roof, jumped in the Olympic Games Quotes how to do »So, in that everyone before the Olympic Games there will be no market share issue and listing of the background, it ushered in the South to the issuance of shares. "Weiwen" has become a peripheral or A-share market rose, the external market or A-shares fall to more "independent" market. Perhaps this may be the only explanation: 2566.53 points from the rebound, the market has already gained a lot of.
Of course, in the following two circumstances, "Wei Wen," Quotes may be broken: first, "Wei Wen," not only stay in words, become a substantive action, such as the size of influx of non-lifting of the ban has been effectively checked, the major stock market The scale of the financing plan was shelved, stabilization funds, such as direct intervention. Second, the pressure on the stock market was further enlarged, such as Everbright Securities, China's construction market share of the IPO, the shares following the South to continue in the short term after the release of the next August the size of the non-lifting of the ban still failed to respond to specific measures. "Weiwen," was the first break, a break up, have a real so-called Olympic market, and the second case, due to market confidence from the hit, the market continued to slump and record low, or even to 2300 or even 2000 points The following points. Have fallen for six months, there is as high as 60 percent of the huge decline in the A-share market, investors may expect is the first outcome! But the reality is likely, and so much more than a Bushangbuxia the "peacekeeping Stable "market.
(The author is on the Häfele vein, chairman of the Investment Management Co., Ltd.)
2008-07-28
Hong Kong stocks turnover a 15-month low led by financial stocks, HSBC Holdings
Hong Kong stocks for the third consecutive trading day down. Hong Kong stocks Monday there was no trend of too many surprises, to close, the Hang Seng Index fell 53.5 points, or 0.24 percent, to close at 22687.21 points, after index was up 121.32 points; State-owned Enterprises Index was down 21.82 points, or 0.18 percent, to close at 12399.85 points. As this week when the futures settlement, together with the United States will announce a number of economic data, market activity is very thin, only a day turnover of 41.473 billion Hong Kong dollars a year on April 3 (40.012 billion Hong Kong dollars) since the 15 On the lowest.
HSBC Holdings led by financial stocks
The market for HSBC Holdings (00005, HK) medium-term performance of the pessimistic expectations really become an excuse to attack bears.
JP Morgan Chase recently reported that HSBC Holdings forecast first half pre-tax profit will be 27.5 percent in setback to 10.3 billion U.S. dollars, is mainly involved in credit costs rose and operating income growth slowed down. Earlier, CLSA research report has forecast, HSBC Holdings first-half net profit will be reduced by 16.75 percent to 9.07 billion U.S. dollars, of which 11 billion U.S. dollars calculated the provision for write-down and 40 billion dollars in capital gains. Will be released next Monday mid-day performance of HSBC Holdings fell 0.39 percent, to close at 127.80 Hong Kong dollar, leading decliners in the Hong Kong Monetary plate. Bank of East Asia (00023, HK) or 1.06 percent, to 37.45 Hong Kong dollar; Standard Chartered Bank (02888, HK) or 0.34 percent, to 238 Hong Kong dollar.
Hong Kong property stocks also no good look. Merrill Lynch said yesterday that Hong Kong real estate companies in the next two fiscal years, announced the results may be below expectations because investors overestimated the profitability of these companies. However, the bank is expected, Sino Land (00083, HK), Hang Lung Properties (00101, HK) and Henderson real estate (00012, HK) is the three most vulnerable to the impact of performance information on stocks, but it may also create a Good buying opportunity. Three stocks, only Henderson real estate fell, and the remaining two companies rose to close at 16.20 Hong Kong dollar, respectively, 25.70 and 48.55 Hong Kong dollar Hong Kong dollar.
Sun Hung Kai Properties (00016, HK) once again become a focus of news. Be removed from office the former Chairman Guo Bing Xiang in an interview that Sun Hung Kai Properties should take measures to reduce the influence of the controlling family.
Chinese coal shares rose contrarian
Chinese stocks, the decline last week by Yanzhou Coal shares (01171, HK) Notice of Yejiyuzeng contrarian rebound. Yanzhou Coal Mining rose 2.5 percent to 13.80 Hong Kong dollar, after the biggest gain 6.69 percent. The company said that the sharp rise in coal prices boost, the company expects first half net profit rose to more than two times. Another two shares of China Shenhua Coal (01088, HK) and coal in the energy (01898, HK) were up 0.7 percent and 0.3 percent, to 29.3 Hong Kong dollar and the Hong Kong dollar 14.
Chinese coal stocks rose despite the contrarian is largely a technical rebound after steep decline, but already at the Center Daily News of Hong Kong equities market sensitivity of the company's performance has been increasing, from the market in recent weeks Performance, regardless of the market in a strong rebound, finishing or weak, short-term performance of companies reporting good news always has a relatively good performance, but once the performance decline, the sharp decline in stock prices will be.
Peng strategist at Sun Hung Kai Securities, said the Hong Kong stock the current lack of direction, until the U.S. economic data released this week and after the futures settlement date, have a clear direction, it is estimated that the index will be repeated the next few days fluctuations that can still stand 22500 Above.
Source: Daily Economic News
HSBC Holdings led by financial stocks
The market for HSBC Holdings (00005, HK) medium-term performance of the pessimistic expectations really become an excuse to attack bears.
JP Morgan Chase recently reported that HSBC Holdings forecast first half pre-tax profit will be 27.5 percent in setback to 10.3 billion U.S. dollars, is mainly involved in credit costs rose and operating income growth slowed down. Earlier, CLSA research report has forecast, HSBC Holdings first-half net profit will be reduced by 16.75 percent to 9.07 billion U.S. dollars, of which 11 billion U.S. dollars calculated the provision for write-down and 40 billion dollars in capital gains. Will be released next Monday mid-day performance of HSBC Holdings fell 0.39 percent, to close at 127.80 Hong Kong dollar, leading decliners in the Hong Kong Monetary plate. Bank of East Asia (00023, HK) or 1.06 percent, to 37.45 Hong Kong dollar; Standard Chartered Bank (02888, HK) or 0.34 percent, to 238 Hong Kong dollar.
Hong Kong property stocks also no good look. Merrill Lynch said yesterday that Hong Kong real estate companies in the next two fiscal years, announced the results may be below expectations because investors overestimated the profitability of these companies. However, the bank is expected, Sino Land (00083, HK), Hang Lung Properties (00101, HK) and Henderson real estate (00012, HK) is the three most vulnerable to the impact of performance information on stocks, but it may also create a Good buying opportunity. Three stocks, only Henderson real estate fell, and the remaining two companies rose to close at 16.20 Hong Kong dollar, respectively, 25.70 and 48.55 Hong Kong dollar Hong Kong dollar.
Sun Hung Kai Properties (00016, HK) once again become a focus of news. Be removed from office the former Chairman Guo Bing Xiang in an interview that Sun Hung Kai Properties should take measures to reduce the influence of the controlling family.
Chinese coal shares rose contrarian
Chinese stocks, the decline last week by Yanzhou Coal shares (01171, HK) Notice of Yejiyuzeng contrarian rebound. Yanzhou Coal Mining rose 2.5 percent to 13.80 Hong Kong dollar, after the biggest gain 6.69 percent. The company said that the sharp rise in coal prices boost, the company expects first half net profit rose to more than two times. Another two shares of China Shenhua Coal (01088, HK) and coal in the energy (01898, HK) were up 0.7 percent and 0.3 percent, to 29.3 Hong Kong dollar and the Hong Kong dollar 14.
Chinese coal stocks rose despite the contrarian is largely a technical rebound after steep decline, but already at the Center Daily News of Hong Kong equities market sensitivity of the company's performance has been increasing, from the market in recent weeks Performance, regardless of the market in a strong rebound, finishing or weak, short-term performance of companies reporting good news always has a relatively good performance, but once the performance decline, the sharp decline in stock prices will be.
Peng strategist at Sun Hung Kai Securities, said the Hong Kong stock the current lack of direction, until the U.S. economic data released this week and after the futures settlement date, have a clear direction, it is estimated that the index will be repeated the next few days fluctuations that can still stand 22500 Above.
Source: Daily Economic News
Bank of China took the strategic Chaodi HFM 30 percent stake in hedge funds
Bank of China in the global capital market remains volatile time, a few days ago already "cover of Chencang", through its acquisition of the British subsidiary of the Swiss hedge fund HeritageFundManagementSA Company (HFM) about 30% of the shares. Yesterday, reporters from the Bank of China spokesman Wang Zhaowen, and HFM current CEO, the company confirmed the news. Wang Zhaowen said the release of the matter in a few days later, it can not disclose details. Subsequently reporter contact the British branch of the Bank of China, but as of filing time has yet to acquire specific details about the news.
HFM management of six Super 300 million fund assets
It is understood, HFM is a focus on the Asian market investment fund companies, in 2006 by BanqueHeritage and senior managers JacquesMechelany co-founder. It is Geneva, a Swiss private bank - Heritage Bank, a subsidiary. HFM Mechaleny current holders of 70 percent stake in Bank of China (Great Britain) holds 30 percent. Under the agreement, the Bank of China will share holdings to 70 percent, he will retain 30 percent shares.
On the nature of the transaction, the Swiss Federal Banking Commission spokesman TobiasLux said that the deal will be regarded as a British company, rather than by Chinese companies. He said that the Bank of China currently does not hold a Swiss asset management companies more than 10 percent of the shares.
According to the Chinese Centre for hedge funds (ChinaHedge) website reported that, HFM manages six funds, assets of more than 300 million euros (about 400 million 71 million U.S. dollars). HFM's some funds in the first half of 2008 suffered a major loss, HFM's 788 Fund is a typical Chinese. The beginning of May this year the fund lost 48.8 percent, while in 2007 the fund rate of return of 114.8 percent. Japanese business fluctuations in small companies, 788 funds in Japan fell 15.6 percent this year, the 2007 rate of return of 16.5%.
The development of the strategic nature of Chaodi
Haitong Securities financial analyst Fankun Cheung that the acquisition of Bank of China is "Chaodi" move: "Comparison of recent financial market turmoil, the company's performance decline, the Bank of China may feel that the acquisition of a good time to, but I personally think that this is not a good time , When the loan-to-bottom that do not know anyone. "
In response, Southwest University of Finance and Economics Research Center of China's financial Pan I-that the so-called "Chaodi" can contain two meanings, one is a speculative purpose Chaodi, that is, buy low sell high and another is the development of strategic significance with the Chaodi, The Bank of China as a major commercial banks, the acquisition of more inclined to this, mainly hopes to introduce market-based risk management professionals, institutions, take control of the main market risk hedging instruments and derivatives.
Fankun Cheung also said the Bank of China will be the subject of acquisition value management experience and network and client resources and further improve their own wealth management in the management level.
At present the Bank of China 70.79 percent stake in the holding, its foreign shareholders include Royal Bank of Scotland (RBS). RBS, through its subsidiaries RBSChinaInvestments a 8.25 percent stake. Singapore Temasek sovereign wealth funds held 4.13 percent of shares, holders of 1.33% UBS shares.
China's Banking new attempt
Jiedao "hedge fund" investment, China's banking sector is still a precedent.
Hedge funds originated in the 1950s the United States, in general, the private investment institutions to make use of futures, options and other financial derivative products and the associated different stocks to buy air space sales, risk hedging skills to benefit from such an operation.
"Investment Bank through the hedge fund to investment, which is very common in foreign countries, such as Credit Suisse First Boston, their hedge funds are doing well," Pan seats, said, "as domestic banks, through the acquisition of the way This expansion of business in a certain sense is progress. "
Pan-I further analyzed that ordinary commercial banks in the market risk management level, a large number of financial instruments need to hedge risk and need to draw on the experience of hedge funds, or use a similar approach to risk management, and also need to introduce talented people, methods of mechanism. Bank of China through the acquisition of the shares will be entitled to the appropriate personnel and institutions.
News
Hedge funds in the end how much risk
Hedge funds in China was the view of the experts "great risk", "Shuitubufu", the development time is not right.
Speaking of hedge funds market risk, Pan-I explained that the strict sense, the hedge fund itself is set up to control the risk. It through basic tools, derivatives, futures, options, and other ways, different financial instruments structure of the interrelationship between each other hedge risk. "Hedge funds simply to hedge way to do investment, the risk will not be too great," Pan seats, said, "If the operator, and flexible management, risk hedging is basically, the net position, or risk their own little net exposure."
Pan-I pointed out that the reason why hedge funds in the West exposed high-risk, mainly in the hedge risks from its original meaning of this, a shift to speculative transactions. "Paris was done because of bank failure is a speculative transactions," said Pan Long seats.
For HFM in the Asian market this year by some of the loss, Pan I-Long pointed out that if the strict sense of hedge funds, in the face of such changes in the market, generally have corresponding basic strategy, a tool prices, must have Corresponding to the tool to allow prices to rise, in order to achieve a balance.
Source: Daily Economic News
HFM management of six Super 300 million fund assets
It is understood, HFM is a focus on the Asian market investment fund companies, in 2006 by BanqueHeritage and senior managers JacquesMechelany co-founder. It is Geneva, a Swiss private bank - Heritage Bank, a subsidiary. HFM Mechaleny current holders of 70 percent stake in Bank of China (Great Britain) holds 30 percent. Under the agreement, the Bank of China will share holdings to 70 percent, he will retain 30 percent shares.
On the nature of the transaction, the Swiss Federal Banking Commission spokesman TobiasLux said that the deal will be regarded as a British company, rather than by Chinese companies. He said that the Bank of China currently does not hold a Swiss asset management companies more than 10 percent of the shares.
According to the Chinese Centre for hedge funds (ChinaHedge) website reported that, HFM manages six funds, assets of more than 300 million euros (about 400 million 71 million U.S. dollars). HFM's some funds in the first half of 2008 suffered a major loss, HFM's 788 Fund is a typical Chinese. The beginning of May this year the fund lost 48.8 percent, while in 2007 the fund rate of return of 114.8 percent. Japanese business fluctuations in small companies, 788 funds in Japan fell 15.6 percent this year, the 2007 rate of return of 16.5%.
The development of the strategic nature of Chaodi
Haitong Securities financial analyst Fankun Cheung that the acquisition of Bank of China is "Chaodi" move: "Comparison of recent financial market turmoil, the company's performance decline, the Bank of China may feel that the acquisition of a good time to, but I personally think that this is not a good time , When the loan-to-bottom that do not know anyone. "
In response, Southwest University of Finance and Economics Research Center of China's financial Pan I-that the so-called "Chaodi" can contain two meanings, one is a speculative purpose Chaodi, that is, buy low sell high and another is the development of strategic significance with the Chaodi, The Bank of China as a major commercial banks, the acquisition of more inclined to this, mainly hopes to introduce market-based risk management professionals, institutions, take control of the main market risk hedging instruments and derivatives.
Fankun Cheung also said the Bank of China will be the subject of acquisition value management experience and network and client resources and further improve their own wealth management in the management level.
At present the Bank of China 70.79 percent stake in the holding, its foreign shareholders include Royal Bank of Scotland (RBS). RBS, through its subsidiaries RBSChinaInvestments a 8.25 percent stake. Singapore Temasek sovereign wealth funds held 4.13 percent of shares, holders of 1.33% UBS shares.
China's Banking new attempt
Jiedao "hedge fund" investment, China's banking sector is still a precedent.
Hedge funds originated in the 1950s the United States, in general, the private investment institutions to make use of futures, options and other financial derivative products and the associated different stocks to buy air space sales, risk hedging skills to benefit from such an operation.
"Investment Bank through the hedge fund to investment, which is very common in foreign countries, such as Credit Suisse First Boston, their hedge funds are doing well," Pan seats, said, "as domestic banks, through the acquisition of the way This expansion of business in a certain sense is progress. "
Pan-I further analyzed that ordinary commercial banks in the market risk management level, a large number of financial instruments need to hedge risk and need to draw on the experience of hedge funds, or use a similar approach to risk management, and also need to introduce talented people, methods of mechanism. Bank of China through the acquisition of the shares will be entitled to the appropriate personnel and institutions.
News
Hedge funds in the end how much risk
Hedge funds in China was the view of the experts "great risk", "Shuitubufu", the development time is not right.
Speaking of hedge funds market risk, Pan-I explained that the strict sense, the hedge fund itself is set up to control the risk. It through basic tools, derivatives, futures, options, and other ways, different financial instruments structure of the interrelationship between each other hedge risk. "Hedge funds simply to hedge way to do investment, the risk will not be too great," Pan seats, said, "If the operator, and flexible management, risk hedging is basically, the net position, or risk their own little net exposure."
Pan-I pointed out that the reason why hedge funds in the West exposed high-risk, mainly in the hedge risks from its original meaning of this, a shift to speculative transactions. "Paris was done because of bank failure is a speculative transactions," said Pan Long seats.
For HFM in the Asian market this year by some of the loss, Pan I-Long pointed out that if the strict sense of hedge funds, in the face of such changes in the market, generally have corresponding basic strategy, a tool prices, must have Corresponding to the tool to allow prices to rise, in order to achieve a balance.
Source: Daily Economic News
2008-07-27
Chinese stocks led Hong Kong stocks sharply lower
Wall Street Thursday sharp pullback, the Asia-Pacific region all the stock market lower Friday, by this drag, Hong Kong stocks sharply lower Friday after a repeated shocks, the Hang Seng Index fell below 23,000 points, led by Chinese stocks were the main force.
The Hang Seng Index closed at 22,741 points, down 347 points, or 1.5 percent; China Enterprises Index closed at 12,422 points, down 336 points, or 2.63 percent. The market turnover of 61.4 billion Hong Kong dollar.
DBS is expected of Li Yongliang, if the U.S. market no longer reported on credit crisis of bad news, stock prices after the adjustment will regain their recent gains. He predicted that the index may be short-term re-test 24000-25000 points. If more weak market sentiment, the stock index may test the strong support of 21800-22000 points region.
Source: China Securities Network
The Hang Seng Index closed at 22,741 points, down 347 points, or 1.5 percent; China Enterprises Index closed at 12,422 points, down 336 points, or 2.63 percent. The market turnover of 61.4 billion Hong Kong dollar.
DBS is expected of Li Yongliang, if the U.S. market no longer reported on credit crisis of bad news, stock prices after the adjustment will regain their recent gains. He predicted that the index may be short-term re-test 24000-25000 points. If more weak market sentiment, the stock index may test the strong support of 21800-22000 points region.
Source: China Securities Network
European stock markets fell financial stocks triggered worries
European stock markets ended lower Friday, the market for financial shares, the fear still linger. Earlier, German reinsurer Munich Re issued earnings warning.
The Dow Jones Stockton 600 index closed down 0.2 percent to 281.8 points; Britain's FTSE 100 index fell 0.2 percent, to 5352.6 while the German DAX 30 index fell 0.1 percent to 6436.7 points.
However, France's CAC-40 index rose 0.7 percent to 4376.9 points, its main constituent stocks of living increase. French retailer Danone Group (Groupe Danone, DA) rose 7.6 percent to 48.3 euros as France's CAC-40 index constituent stocks of the largest gains. Danone Group posted strong second-quarter earnings report and reiterated the revenue expected.
Friday was news of financial and banking sector monopoly. Germany Munich Re issued earnings warning, saying the 2008 financial year profit cautious view. The company attributed the global capital market volatility. First half of this year, the impact of volatile capital markets, the group's investment performance decline. The stock fell 7.3 percent to 107.9 euros. This news prompted the European insurance stocks fell.
Other areas, UBS (UBS) fell 6.1 percent to 21.6 Swiss francs; Minister of Justice on the New York auction rate bond trading allegations against the company. UBS is a European bank in the most affected by the credit crisis of one of several banks, the size of its assets Chongjian has more than 37 billion U.S. dollars.
The Dow Jones Stockton 600 index closed down 0.2 percent to 281.8 points; Britain's FTSE 100 index fell 0.2 percent, to 5352.6 while the German DAX 30 index fell 0.1 percent to 6436.7 points.
However, France's CAC-40 index rose 0.7 percent to 4376.9 points, its main constituent stocks of living increase. French retailer Danone Group (Groupe Danone, DA) rose 7.6 percent to 48.3 euros as France's CAC-40 index constituent stocks of the largest gains. Danone Group posted strong second-quarter earnings report and reiterated the revenue expected.
Friday was news of financial and banking sector monopoly. Germany Munich Re issued earnings warning, saying the 2008 financial year profit cautious view. The company attributed the global capital market volatility. First half of this year, the impact of volatile capital markets, the group's investment performance decline. The stock fell 7.3 percent to 107.9 euros. This news prompted the European insurance stocks fell.
Other areas, UBS (UBS) fell 6.1 percent to 21.6 Swiss francs; Minister of Justice on the New York auction rate bond trading allegations against the company. UBS is a European bank in the most affected by the credit crisis of one of several banks, the size of its assets Chongjian has more than 37 billion U.S. dollars.
2008-07-25
U.S. stocks data to trigger panic down the Dow down 283 points
U.S. stocks fell sharply Thursday, the Dow Jones Industrial Average index rose for two consecutive trading day after Thursday fell nearly 300 points. The latest employment and housing market data so that investors panic.
Car manufacturers Ford and De Mule's earnings have been disappointing.
Morgan Keegan & Co. Executive director of Morgan Keegan & Co., "Said the first increase in the number of applications for unemployment benefits, housing market continued to slump, the U.S. economy is bad news, investors once again felt fear."
The Dow Jones industrial average was down 283.10 points to close at 11349.28 points, or 2.43 percent. Within the 30 constituent stocks in a total of 24 shares fell. Boeing fell 6.4 percent, Citigroup fell 7.3 percent.
The Standard & Poor's 500 index fell 29.65 points to 1252.54 points, or 2.31 percent. The financial section of which fell 3.8 percent, to be non-consumer products segment fell 2.3 percent, information technology segment fell by 2%.
Washington Mutual Bank (WM) led by financial stocks, the current decline of 18.9 percent. The nation's largest savings bank Tuesday on a report after the close-quarter loss of 3.33 billion U.S. dollars. The stock has dropped this week by 32 per cent.
UBS (UBS) fell 6.3 percent. The company by New York State Attorney General Andrew Cuomo's allegations, charges the company sale of securities when interest rates mislead investors.
The Standard & Poor's 10 major medical industry is the only section of the plate up, or the current 0.1 percent.
(Phoenix Financial)
Car manufacturers Ford and De Mule's earnings have been disappointing.
Morgan Keegan & Co. Executive director of Morgan Keegan & Co., "Said the first increase in the number of applications for unemployment benefits, housing market continued to slump, the U.S. economy is bad news, investors once again felt fear."
The Dow Jones industrial average was down 283.10 points to close at 11349.28 points, or 2.43 percent. Within the 30 constituent stocks in a total of 24 shares fell. Boeing fell 6.4 percent, Citigroup fell 7.3 percent.
The Standard & Poor's 500 index fell 29.65 points to 1252.54 points, or 2.31 percent. The financial section of which fell 3.8 percent, to be non-consumer products segment fell 2.3 percent, information technology segment fell by 2%.
Washington Mutual Bank (WM) led by financial stocks, the current decline of 18.9 percent. The nation's largest savings bank Tuesday on a report after the close-quarter loss of 3.33 billion U.S. dollars. The stock has dropped this week by 32 per cent.
UBS (UBS) fell 6.3 percent. The company by New York State Attorney General Andrew Cuomo's allegations, charges the company sale of securities when interest rates mislead investors.
The Standard & Poor's 10 major medical industry is the only section of the plate up, or the current 0.1 percent.
(Phoenix Financial)
Hong Kong Stock Exchange listed company trading tips (08.07.25)
July 25, 2008 Friday
IPO
Issue price ($) exercise price ($)
Germany, Thailand and China equity investment 02,952 N / A N / A
Don 14,356 large silver purchase 901 0.35 5.55
Mak Yin-Mo Luo 14,358 907 purchase 0.25 6.99
14,359 Huaneng Mak Yin-901 B 0.46 6.00
Mak Yin-14360-Jiu purchase 908 0.25 6.99
14361 A of the rationale for purchase 0.26 904 14.28
TING 14,362 in the purchase rationale 902 0.50 28.20
14,363 in the grounds of the purchase 1.44 902 7.68
The rationale for the 14,364 oil purchase 904 0.26 12.68
Mak Yin-HSI 14,365 901 0.25 23,000.00 purchase
14,366 enterprises in the purchase Mak Yin-901 0.25 13,000.00
14367 shift in-law purchased 901 1.36 113.60
In the rate of 14,368-901 E 0.25 12,000.00
14,369 901 HSI Mak Yin-selling 0.25 21,000.00
14,370 enterprises in 901 Mak Yin-selling 0.25 11,000.00
14,371 in the rate of 901-F 0.25 12,600.00
14,372 in the rate of 901-G 0.25 11,800.00
14373 A purchase of Merrill Lynch 907 0.26 14.62
14374 A Merrill Lynch in selling 0.37 905 15.18
14,375 in the purchase of coal Merrill Lynch 904 0.36 12.90
14,376 in reference to purchase Merrill Lynch 904 0.28 14.08
14,377 in reference to purchase Merrill Lynch 906 0.26 15.28
14378 shift in the Merrill Lynch 903 C 0.15 107.99
14379 shift in the purchase Merrill Lynch 908 0.16 114.90
14,380 in the iron Merrill Lynch purchased 110 0.26 6.15
14,381 purchase of the 12 letters Merrill Lynch 0.17 4.68
Lehman 14,382 901 HSI A 0.28 21,800.00
14,383 HSI Lehman 901 B 0.25 22,800.00
14,386 HSI Lehman 901 C 0.25 20,500.00
14,387 HSI Lehman 901 D 0.28 21,200.00
30,711 HSI UBS September 4 Xiong F 0.25 22,800.00
30,712 HSI UBS September 4 Xiong K 0.28 23,000.00
30,713 HSI UBS September 4 Xiong M 0.25 23,000.00
Mak Yin-September 2 HSI 30,714 cattle A 0.25 19,288.00
Mak Yin-September 2 HSI 30,715 cattle B 0.25 19,688.00
Mak Yin-September 4 HSI 30,716 cattle A 0.25 17,888.00
Mak Yin-September 4 HSI 30,717 cattle B 0.25 18,688.00
Mak Yin-September 2 HSI 30,718 Xiong C 0.25 24,288.00
Mak Yin-September 2 HSI 30,719 bears D 0.25 24,688.00
Mak Yin-September 2 HSI 30,720 bears E 0.25 25,088.00
Mak Yin-September 4 HSI 30,721 Xiong C 0.25 25,288.00
Mak Yin-September 4 HSI 30,722 bears D 0.25 25,688.00
Mak Yin-September 4 HSI 30,723 bears E 0.25 26,088.00
30,724 cattle in the rate of UBS September 2 R 0.25 11,300.00
30,728 in the level of UBS September 2 Xiong U 0.25 12,800.00
Results announcement
Kind
00120 Four Seas International Group annual results
00,136 Masi Ge Group annual results
00,155 Wah Kai photoelectric annual results
00,279 Minfeng holding annual results
00,288 successful holding annual results
00,306 Kwoon Chung Bus Holdings full-year results
China's mining Jin-Hui 00,462 annual results
00,464 Jian-fu Group annual results
00,499-year performance of wireless communications network
The holding more than 00,628 full-year results
00,673 Chinese health holding annual results
00,681 people in holding annual results
00,719 Shandong Xinhua Pharmaceutical interim results
00,745 rong KANG holding annual results
00,910 Chinese Lin annual results
00918 Ruby holding the first annual results
00,959 Aoma Shi annual results
00,985 annual performance of the China Science and Technology
00986 South Hing Group annual results
01,141 newly created full-year results
02,326 BEHRINGER international full-year results
08,100 of the vitality of the world dream of interim results
08,115 Shanghai Qingpu Fire full-year results
08,115 Shanghai Qingpu Fire first-quarter results
08,115 Shanghai Qingpu Fire interim results
08,115 Shanghai Qingpu Fire third-quarter results
Memo dividend (in addition to the net)
The amount (cents) payable on the type of
00,336 Warburg International 6.00 N / A final dividend
00752 Pico Far East interim dividend of 3.50 2008/08/08
Maturity securities
02066 shift in the Moldovan-selling 807
02,448 Palestinian silver CNPC purchase 807
Huang Law 02657 and C-807
03,924 in aluminum HSBC 807 purchase
03,926 ocean-going HSBC 807 B
03,929 Shenhua HSBC 807 purchase
03,930 of the letter HSBC 807 purchase
Datang 03,932 HSBC 807 purchase
03,935 807 HSBC bank purchase
Huang Law 03958 and D-807
03,984 workers will be a 807 B
In addition to licensing,
05,087 of the Palestinian HSBC 807 D
Huang than 07,036 and the 807 A
Huang than 07,037 and the 807 B
CNPC than 07,038 of the 807 F
IPO
Issue price ($) exercise price ($)
Germany, Thailand and China equity investment 02,952 N / A N / A
Don 14,356 large silver purchase 901 0.35 5.55
Mak Yin-Mo Luo 14,358 907 purchase 0.25 6.99
14,359 Huaneng Mak Yin-901 B 0.46 6.00
Mak Yin-14360-Jiu purchase 908 0.25 6.99
14361 A of the rationale for purchase 0.26 904 14.28
TING 14,362 in the purchase rationale 902 0.50 28.20
14,363 in the grounds of the purchase 1.44 902 7.68
The rationale for the 14,364 oil purchase 904 0.26 12.68
Mak Yin-HSI 14,365 901 0.25 23,000.00 purchase
14,366 enterprises in the purchase Mak Yin-901 0.25 13,000.00
14367 shift in-law purchased 901 1.36 113.60
In the rate of 14,368-901 E 0.25 12,000.00
14,369 901 HSI Mak Yin-selling 0.25 21,000.00
14,370 enterprises in 901 Mak Yin-selling 0.25 11,000.00
14,371 in the rate of 901-F 0.25 12,600.00
14,372 in the rate of 901-G 0.25 11,800.00
14373 A purchase of Merrill Lynch 907 0.26 14.62
14374 A Merrill Lynch in selling 0.37 905 15.18
14,375 in the purchase of coal Merrill Lynch 904 0.36 12.90
14,376 in reference to purchase Merrill Lynch 904 0.28 14.08
14,377 in reference to purchase Merrill Lynch 906 0.26 15.28
14378 shift in the Merrill Lynch 903 C 0.15 107.99
14379 shift in the purchase Merrill Lynch 908 0.16 114.90
14,380 in the iron Merrill Lynch purchased 110 0.26 6.15
14,381 purchase of the 12 letters Merrill Lynch 0.17 4.68
Lehman 14,382 901 HSI A 0.28 21,800.00
14,383 HSI Lehman 901 B 0.25 22,800.00
14,386 HSI Lehman 901 C 0.25 20,500.00
14,387 HSI Lehman 901 D 0.28 21,200.00
30,711 HSI UBS September 4 Xiong F 0.25 22,800.00
30,712 HSI UBS September 4 Xiong K 0.28 23,000.00
30,713 HSI UBS September 4 Xiong M 0.25 23,000.00
Mak Yin-September 2 HSI 30,714 cattle A 0.25 19,288.00
Mak Yin-September 2 HSI 30,715 cattle B 0.25 19,688.00
Mak Yin-September 4 HSI 30,716 cattle A 0.25 17,888.00
Mak Yin-September 4 HSI 30,717 cattle B 0.25 18,688.00
Mak Yin-September 2 HSI 30,718 Xiong C 0.25 24,288.00
Mak Yin-September 2 HSI 30,719 bears D 0.25 24,688.00
Mak Yin-September 2 HSI 30,720 bears E 0.25 25,088.00
Mak Yin-September 4 HSI 30,721 Xiong C 0.25 25,288.00
Mak Yin-September 4 HSI 30,722 bears D 0.25 25,688.00
Mak Yin-September 4 HSI 30,723 bears E 0.25 26,088.00
30,724 cattle in the rate of UBS September 2 R 0.25 11,300.00
30,728 in the level of UBS September 2 Xiong U 0.25 12,800.00
Results announcement
Kind
00120 Four Seas International Group annual results
00,136 Masi Ge Group annual results
00,155 Wah Kai photoelectric annual results
00,279 Minfeng holding annual results
00,288 successful holding annual results
00,306 Kwoon Chung Bus Holdings full-year results
China's mining Jin-Hui 00,462 annual results
00,464 Jian-fu Group annual results
00,499-year performance of wireless communications network
The holding more than 00,628 full-year results
00,673 Chinese health holding annual results
00,681 people in holding annual results
00,719 Shandong Xinhua Pharmaceutical interim results
00,745 rong KANG holding annual results
00,910 Chinese Lin annual results
00918 Ruby holding the first annual results
00,959 Aoma Shi annual results
00,985 annual performance of the China Science and Technology
00986 South Hing Group annual results
01,141 newly created full-year results
02,326 BEHRINGER international full-year results
08,100 of the vitality of the world dream of interim results
08,115 Shanghai Qingpu Fire full-year results
08,115 Shanghai Qingpu Fire first-quarter results
08,115 Shanghai Qingpu Fire interim results
08,115 Shanghai Qingpu Fire third-quarter results
Memo dividend (in addition to the net)
The amount (cents) payable on the type of
00,336 Warburg International 6.00 N / A final dividend
00752 Pico Far East interim dividend of 3.50 2008/08/08
Maturity securities
02066 shift in the Moldovan-selling 807
02,448 Palestinian silver CNPC purchase 807
Huang Law 02657 and C-807
03,924 in aluminum HSBC 807 purchase
03,926 ocean-going HSBC 807 B
03,929 Shenhua HSBC 807 purchase
03,930 of the letter HSBC 807 purchase
Datang 03,932 HSBC 807 purchase
03,935 807 HSBC bank purchase
Huang Law 03958 and D-807
03,984 workers will be a 807 B
In addition to licensing,
05,087 of the Palestinian HSBC 807 D
Huang than 07,036 and the 807 A
Huang than 07,037 and the 807 B
CNPC than 07,038 of the 807 F
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