Posted by: Kiki.yang on Sep 02 2010

The People's Bank of China (PBoC) injected a net of RMB 70 billion into money markets in its regular open market operations this week, xinhuanet.com reported September 2.

The central bank sold three-month bills worth a total of RMB 13 billion at a rate of 1.5704% on Thursday, September 2, according to an announcement on its website...

Posted by: Tom Telford on Sep 02 2010

The Shanghai Composite Index increased 1.25% to close at 2,655.78, while the Shenzhen Composite Index climbed 1.84% to end at 1,172.34 on Thursday, September 2. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 12.41 billion and 8.80 billion, respectively.

Metallurgical products manufacturer Luyin Investment (600784.SH) and diamond-tipped drills maker Henan Huanghe Whirlwind (600172.SH) both leaped 10.05%, machine tools maker Qinghai Huading Industrial (600243.SH) and graphite products maker Sinosteel Jilin Carbon (000928.SZ) each gained 10.04%, and Shaanxi Qinchuan Machinery Development (000837.SZ) increased 6.54%.

Drugs maker Chongqing Taiji Industry (600129.SH) and Jiangsu Lianhuan Pharmaceutical (600513.SH) closed more than 10% higher, while Tibet Rhodiola Pharmaceutical (600211.SH) Guangzhou Pharmaceutical (600332.SH) Southwest Pharmaceutical (600666.SH) gained 8.62% and 6.99%, respectively.

Pharmaceuticals maker Zhejiang Garden Biochemical High-Tech and printed circuit board assembly producer ShenZhen Yitoa Intelligent Control have been approved to list on a domestic exchange, according to an announcement on the China Securities Regulatory Announcement on Wednesday.

Electronic parts manufacturer Shenzhen Evenwin Precision Technology (300115.SZ), fire extinguisher maker Shaanxi J&R Fire Protection (300116.SZ), Beijing Jiayu Door, Window and Curtain Wall Joint-Stock Co...

Posted by: Tom Telford on Sep 02 2010

The Hang Seng Index gained 1.19% to close at 20,868.92 on Thursday, September 2, in main board trading turnover of HK$66.13billion. The Hang Seng China Enterprises Index increased 1.65% to end at 11,688.84.

Airlines gained today, with Air China (0753.HK, 601111.SH) gaining 4.33%, Cathay Pacific (0293.HK) ending up 2.92% and China Eastern (NYSE:CEA, 0670.HK, 600115.SH) surging 5.53%.

Banks also improved, with China CITIC Bank (0998.HK, 601998.SH), Bank of China Hong Kong (2388.HK) and Bank of Communications (3328.HK, 601328.SH) rising 3.35%, 2.13% and 2.36%, respectively.

Posted by: Kiki.yang on Sep 01 2010

China's Purchasing Managers' Index (PMI) for August stood at 51.7, 0.5 point higher than July, according to data released by China Federation of Logistics and Purchasing (CFLP) August 31.

HSBC's China Manufacturing PMI was 51.9 in August, up from 49.4 in July, its lowest level in 17 months, according to data released by HSBC (NYSE:HBC, LSE:HSBA, 0005.HK) on September 1.

Posted by: Kiki.yang on Sep 01 2010

The Shanghai Composite Index dipped 0.6% to 2,622.88, while the Shenzhen Composite Index declined 1.31% to end at 1,151.17 on Wednesday, September 1. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 12.72 billion and 9.36 billion, respectively.

New energy companies retreated, with Ningbo Shanshan (600884.SH) down 5.2%, Sichuan Chuantou Energy (600674.SH) declining 4.56%, and Guizhou Qianyuan Power (002039.SH) withdrawing 4.62%...

Posted by: Tom Telford on Sep 01 2010

The Hang Seng Index gained 0.43% to close at 20,623.83 on Wednesday, September 1, in main board trading turnover of HK$56.52 billion. The Hang Seng China Enterprises Index increased 0.84%.

Construction companies gained, with cement producers Luks Group (0366.HK) and Anhui Conch (0914.HK, 600585.SH) up 6.20% and 4.34%, and China State Construction (3311.HK) increased 2.97%.

Zijin Mining (2899.HK, 601899.SH) added 4.09% while Zhaojin Mining (1818.HK) and Hunan Nonferrous Metals (2626.HK) increased 3.93%.

Coolpoint Energy (8032.HK) shares increased 17.95% while Li Ning (2331.HK) stock fell 5.39% on Wednesday...

Posted by: Kiki.yang on Aug 31 2010

China's 16 listed banks reported combined net income of RMB 343.4 billion in the first half of 2010, representing an increase of more than 30% year-on-year, China Business News reported August 30.

Among the 16 banks are included the Agricultural Bank of China (ABC) (1288.HK, 601288.SH), which debuted in Shanghai in July, and Everbright Bank (601818.SH), which debuted August 18.

A separate report by 21st Century Business Herald citing interim results among 15 listed Chinese banks, 11 banks saw an increase in net interest spread compared with the same period of last year, while four reported narrowing spreads...

Posted by: Emily Alitto on Aug 31 2010

The Hang Seng Index fell 0.97% to close at 20,536.49 on Monday, August 30, in main board trading turnover of HK$56.89 billion. The Hang Seng China Enterprises Index declined 1.12% to 11,402.9.

Big-cap banks retreated, with Bank of China (3988.HK, 601988.SH) losing 1.76%, CITIC Bank (0998.HK, 601998.SH) closing 1.94% lower and Bank of Communications (3328.HK, 601328.SH) dropping 1.9%...

Posted by: Tom Telford on Aug 30 2010

The Shanghai Composite Index climbed 1.61% to close at 2,652.66, while the Shenzhen Composite Index hiked 2.63% to end at 1,158.22 on Monday, August 30. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 11.05 billion and 7.58 billion, respectively...

Posted by: Tom Telford on Aug 30 2010

The Hang Seng Index climbed 0.68% to close 20,737.22 on Monday, August 30, in main board trading turnover of HK$49.25 billion. The Hang Seng China Enterprises Index rose 1.2% to 11,531.72.

Mongolian Mining Corp has received approval from the Hong Kong Exchange to issue a $1 billion initial public offering, Bloomberg reported citing people familiar with the issue.

Agricultural Bank of China (1288.HK, 601288.SH) lost 1.98% after reporting 40.2% year-on-year growth in net income in the first six months, while China Pacific Insurance (Group) (CPIC) (2601.HK, 601601.SH) lost 4.49% after announcing first half net income increased 66.8% year-on-year...

Posted by: Kiki.yang on Aug 30 2010

Xia Bin, Director of the Finance Institute under the State Council's Development Research Center and a member of the Chinese central bank's monetary policy commission said China may consider allowing banks to set more flexible interest rates on deposits given current pressure from the consumer price index (CPI) inflation gauge and the country's lending target this year of RMB 7.5 trillion, China Business News reported on August 30...

Posted by: Emily Alitto on Aug 27 2010

The Shanghai Composite Index increased 0.28% to close at 2,610.74, while the Shenzhen Composite Index climbed 0.85% to end at 1,128.49 on Friday, August 27. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 7.04 billion and 5.32 billion, respectively...

Posted by: Sijia Xie on Aug 27 2010

The Hang Seng Index dipped 0.07% to close at 20,597.35 on Friday, August 27, in main board trading turnover of HK$51.55 billion. The Hang Seng China Enterprises Index declined 0.36%.

TCL Multimedia (1070.HK) plunged 15.88% today after the company announced on August 25 that it recorded net loss of HK$334 million in the first six months this year and that CEO Yu Guanghui resigned...

Posted by: Sijia Xie on Aug 26 2010

The Hang Seng Index declined 0.11% to close at 20,612.06 on Thursday, August 26, in main board trading turnover of HK$54.83 billion. The Hang Seng China Enterprises Index declined 0.52% to 11,436.22.

China Life Insurance (NYSE:LFC, 2628.HK, 601628.SH) plunged 6.27% after the company reported net income of RMB 18.03 billion in the first six months of 2010, up 7.4% year-on-year...

Posted by: Kiki.yang on Aug 26 2010

The Shanghai Composite Index edged up 0.27%, closing at 2,603.48, while the Shenzhen Composite Index climbed 0.67% to end at 1,119.0 on Thursday, August 26. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 8.03 billion and 6.27 billion, respectively.

Coal companies rebounded, with Zhengzhou Coal Industry & Electric Power (600121.SH), Gansu Jingyuan Coal Industrial & Electrical Power (000552.SZ) and Sichuan Shengda Industrial Co...