Of course, China's growth may prove more fragile than it looks. Inflation has reached the danger zone of 8.3pc. The central bank tightened credit again yesterday. The Shanghai bourse has lost almost half its value since peaking last autumn. Nariman Behravesh, chief economist at Global Insight, warns that China faces post-Olympics "crunch" as the colossal bad debts of the state banking system exact their toll.
Actually starting to feel a bit sorry for them now - must be a bounce any day now. Maybe Rocky & Bullwinkle (Paulson & Bernanke) can offer to show them how real capitalists do it .
stocks rise and stocks fall UF what's your surprise? You think it can just go up and up and up? What u posted is what a normal market does.. All I can see is a coming opportunity.
regardless of the spin u are whipping up there is a opportunity in the making here in my opinion we just need the time element to confirm it.
P.S and who said that conventional chart patterns don't pay off check out that double top.
http://www.marketwatch.com/news/sto...A7E-4DB2-B05D-224D80C5DAC6}&dist=MostReadHomeHONG KONG (MarketWatch) -- Chinese stocks soared in Shanghai Thursday, after the government slashed a tax on share transactions in a move aimed at bolstering a stock market that ranks among the worst performers in Asia so this year.
The government's decision to slash the stamp duty on share transactions from 0.3% to 0.1%, announced late Wednesday, also boosted China-related stocks in Hong Kong. The reduction marks a reversal of the increase in the stamp duty imposed by Beijing last year as part of its measures to cool surging stock prices.
"I don't think China wants a runaway up-market, but they probably want to stop the rot. The (Shanghai Composite) was down nearly 50% from its highs and there was a loss of investor confidence, which is not so good," said Howard Gorges, vice chairman at South China Brokerages. "We may have seen the bottom of the Shanghai market for now."
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aKXiB34dAAI0Dec. 12 (Bloomberg) -- China’s economic slowdown is deepening, with overcapacity in almost all industries, and won’t bottom out until after the first quarter of next year, two senior officials said today.
“The international financial crisis is having a severe domestic impact,” Li Yizhong, head of the Ministry of Industry and Information Technology, said at a press briefing in Beijing. “We don’t think we’ve bottomed out yet, and the impact will broaden further in December.”
Exports fell for the first time in seven years last month, imports plunged and manufacturing contracted by a record as the global recession pushed the world’s fourth-biggest economy into a slump. The slowdown will deepen before a 4 trillion yuan ($585 billion) stimulus package kicks in from the second quarter of next year, Liu He, a senior economic policy official, said at a conference in Beijing.
Stocks fell the most in three weeks after the cautions and the weakest retail-sales figures in nine months. The CSI 300 Index declined 4.2 percent.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a3.b0h.nSPwwDec. 12 (Bloomberg) -- China, the world's second-biggest energy consumer, may face an energy oversupply within the next two years as the global recession slows the country's economy.
The nation may see a surplus of coal, fuels and electricity because of waning demand and a ``sizable'' expansion in output capacity, Wang Siqiang, a deputy director at the National Energy Administration, said at the China Energy and Environment Summit in Beijing today.
Chinese exports fell for the first time last month in seven years as the worst financial crisis since the Great Depression slashed demand, retarding industrial fuel consumption and electricity use. The government is expediting project approvals in the energy sector to help stimulate the economy, which expanded at the weakest pace in five years in the third quarter.
``China's energy demand growth has slowed and previously tight supplies have turned relatively ample,'' said Wang.
http://www.bloomberg.com/apps/news?pid=20601087&sid=az4OW44aUopA&refer=worldwideApril 16 (Bloomberg) -- China’s gross domestic product, battered by collapsing exports, grew at the slowest pace in almost ten years, probably marking the low point for the world’s third-biggest economy.
GDP expanded 6.1 percent in the first quarter from a year earlier, after a 6.8 percent gain in the previous three months, the statistics bureau said in Beijing today. The figure compares with the 6.2 percent median estimate of 13 economists surveyed by Bloomberg News.
China’s economy shows signs that Premier Wen Jiabao’s 4 trillion yuan ($585 billion) stimulus plan is working, fueling a surge in bank lending and spurring the Shanghai Composite Index to an eight-month high. The State Council said yesterday that it will cut export taxes for some electronics products and offer cheaper credit to manufacturers to spur shipments overseas.
“The recovery is still at a very fragile stage,” said Yu Song, an economist at Goldman Sachs Group Inc. in Hong Kong. “The tug of war between upside risks from domestic investments and downside risks from weaker external demand will continue.”
Today’s report coincides with a statement from U.S. Treasury Secretary Timothy Geithner that China isn’t a currency manipulator. His stance eases pressure on China to allow its currency to rise, hurting efforts to revive exports.
And.....the market's take a tumble on the news China hasn't disconnected......
The bullish view - the stimuli are working
The bearish view - the stimuli is promoting a new round of bubbles, pushing the stock market higher but still making things that nobody wants ie steel & aluminium etc etc? Bad news for BHP & RIO etc etc
http://www.bloomberg.com/apps/news?pid=20601087&sid=az4OW44aUopA&refer=worldwide
My charts must be upside down.And.....the market's take a tumble on the news China hasn't disconnected......
My charts must be upside down.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIlW3KeVLqW0&refer=homeApril 15 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner refrained from labeling China as a currency manipulator, backtracking from an assertion he made during his confirmation hearings in January.
In its first semiannual report on foreign-exchange policies since Geithner became secretary, the Treasury said that while the yuan remains “undervalued,” no country “met the standards” for illegal currency manipulation during the period of the report, from July 2008 through December 2008.
The conclusion clashes with Geithner’s January 22 statement to a Senate panel that President Barack Obama “believes that China is manipulating its currency.” Today’s shift may anger U.S. lawmakers, companies and trade unions who have sought measures to punish nations perceived to have undervalued exchange rates.
“Clearly the Treasury has made more of a political decision than an economic decision here,” Republican Senator Lindsey Graham of South Carolina said in a Bloomberg Television interview. “The truth is the Chinese manipulate their currency.”
Yep, China has no money and is bankrupt.
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