News
11/19//2007

China Freezes Lending to Curb Investing Frenzy__Wall Street Journal
Chinese authorities are ordering a freeze on bank lending, aiming to curb the runaway investment that threatens to overheat the economy. But even a temporary halt could chill important segments of the economy, including the stock market.  

Hedge Funds Shake Off Summer Jitters__Wall Street Journal
Hedge funds had a difficult summer, but now they're storming back, pulling in more money than ever from investors.  

Emerging-Market Strength Rewrites Rules__Wall Street Journal
The economic boom in emerging markets is changing the rules investors have used to guide decisions, complicating an already tricky environment and forcing many to rethink their worldview.
 
Chinese banks seek stake in StanChart__Financial Times
China’s three leading banks have approached Temasek, the Singapore state investment agency, to discuss the possible acquisition of its 17 per cent stake in Standard Chartered, the UK-based emerging-markets lender .

Chilton Investment eyes western China __Financial Times
The $6.5bn Chilton investment hedge fund has a subsidiary in Hong Kong and is waiting for regulators to approve its application for an office in Beijing.

Chinese banks hit the acquisition trail __Financial Times
With overseas banks having had limited success in transfering their expertise to Chinese banks, the Chinese have turned the tables by making their own offshore acquisitions.

Vodafone sees China growth__Financial Times
Vodafone is seeking to increase its presence in China through a government-led restructuring of the country’s telecommunications industry

 

11/15//2007

China Has Limited Options to Intervene__Wall Street Journal
China has few options for intervening in BHP's bid for Rio Tinto, despite having much at stake due to a combined company's control of over one-quarter of global iron-ore supply.

China Targets Natural Gas
China raised natural-gas prices for some industrial users by about 50% to curb demand by chemical companies and power generators.

Private equity eyes China ploy__Financial Times
International private equity funds facing ever more intense competition for deals in China are considering a new tactic – raising local currency renminbi funds, possibly in partnership with pools of local capital.

Foreign banks enter fresh fields in China__Financial Times
Citibank, Standard Chartered and Bank of East Asia are seeking to follow the lead of HSBC, which has secured a licence to offer services to Chinese peasant communities.

China’s industrial output slows__Financial Times
Industrial production slowed a little on government policy curbs, but its tempo was still so high that economists predicted a further rise in interest rates was just a matter of time. 

CNOOC looks at Australia deal__Financial Times
CNOOC, the Chinese offshore oil and gas producer, is understood to have hired Macquarie, the investment bank, to advise on the possible acquisition of Royal Dutch Shell’s oil assets in Australia’s North West Shelf.



11/14//2007

NYSE Moves to Prevent Abuses in Odd-Lot Trades
The New York Stock Exchange is trying to even the playing field for odd-lot trades, typically trades of fewer than 100 shares, often executed by small investors.

Softbank plans venture with Chinese group
The telecommunications group is in talks with Alibaba, an e-commerce company, to set up a joint venture based in Japan.

BofA set to gain $30bn on China bank stake
Bank of America’s potential gain on its 2005 investment in China Construction Bank more than outweighs the problems it faces so far as a result of the US subprime mortgage meltdown.

Yahoo settles China dissident case
Yahoo reached an out-of-court settlement with the families of two Chinese journalists who were jailed in their home country after the internet company identified their online activities to the authorities.

China loan freeze to tackle inflation
Companies investing in Chinese real estate or heavily polluting industries have been told by bankers that they cannot access credit before the end of the year.

  

11/13//2007

China loan freeze to tackle inflation__Financial Times
Companies investing in Chinese real estate or heavily polluting industries have been told by bankers that they cannot access credit before the end of the year.

Inflation in China Rebounded in October__Wall Street Journal
China's consumer prices surged 6.5% from a year earlier, marking decade-high levels of inflation. Manufacturers appear to be weathering the rise in inflation, but consumers are being pressured by food-price rises.

Goldman Looks to Revise Bid for Chinese Firm__Wall Street Journal
China gave Goldman the green light to buy 12% of a Shanghai-listed tool maker, provided it sweetens the deal.

Carlyle Group to Boost Efforts in China__Wall Street Journal
Carlyle Group plans to redouble efforts in China by building up its team there, despite a still bumpy market for deals.

Gates Foundation, China to Fight AIDS__Wall Street Journal
The Gates Foundation is launching a major partnership with the Chinese government that will focus on halting the spread of AIDS in China.


11/12//2007

Railway builders head for market__Financial Times
China’s two largest railway construction companies plan to sell shares in Shanghai and Hong Kong before the end of the year to make up for a shortfall in government funding.

China posts record trade surplus__Financial Times
China’s trade surplus rose to a record $27.1bn in October, but fell short of many analysts’ predictions thanks to a jump in the value of imported raw materials.

Sinotruck puts Hong Kong IPO into gear__Financial Times
China’s third-largest heavy-truck manufacturer will begin marketing its $1.16bn flotation in Hong Kong, ahead of a trading debut expected this month.

Chinese urged to curb euro__Financial Times
Eurozone finance ministers speak out against excessive exchange rate volatility and urge China to play its part in rebalancing the world economy.

China's Stock Boom Taxes the System__Wall Street Journal
The demand to invest in China's stock markets has pushed the country's financial-system infrastructure to the limit. That is sparking concerns over what could happen if market sentiment deteriorates and investors rush to cash out.


11/8//2007

Dollar Pummeled on China Report __Wall Street Journal
The dollar was pummeled across the board after reports surfaced suggesting China may want to dump some of its enormous reserves of dollars and replace them with euros.

Asian energy focus shifts to renewables__Financial Times
China and India appear to be embarking on aggressive diversification plans that could go well beyond the International Energy Agency’s expectations.

Macquarie buys China toll road__Financial Times
The acquisition of the controlling stake in the major north-south artery in Guangzhou, reflects the fund’s determination to shift its exposure towards Asia.

Rock believed to have sought Asian buyers__Financial Times
Northern Rock is thought to have contacted Asian banks such as Industrial and Commercial Bank of China and Bank of China as it stepped up its efforts to find a buyer.

4m Chinese-made toys recalled in US__Financial Times
Some 4m Chinese-made Aqua Dots toys were recalled in the US because they may contain a chemical which, if swallowed, can lead to a coma or seizures, the US Consumer Product Safety Commission said. 



11/7//2007

libaba.com Skyrockets in Debut __Wall Street Journal
Alibaba.com shares nearly tripled from the IPO price on their first day of Hong Kong trading, giving China's dominant business-to-business Web site a market value of $26 billion.

Mainland's Boom Lures Property Firms Listed in Hong Kong__Wall Street Journal
With the run-up of shares in Shanghai and Shenzhen outstripping even Hong Kong's red-hot performance, some mainland-based property companies that trade here are eyeing a second listing of their shares on the mainland markets.

OCBC's Net Climbs 22% Despite CDO Write-Down__Wall Street Journal
Oversea-Chinese Banking's net profit rose 22% in the third quarter, despite a $152 million write-down due to collateralized debt obligations.

Zhong An Raises $464 Million In Market Debut __Wall Street Journal
Zhong An Real Estate Ltd. raised US$464 million from its Hong Kong initial public offering after pricing its shares at the top end of the indicative range, a person familiar with the situation said yesterday.

Euro concerns to be voiced on Beijing trip__Financial Times
European efforts to push a speedier appreciation of the renminbi will step up this month amid concerns the euro is bearing the brunt of global macroeconomic adjustments

PetroChina has right to look Exxon in the eye__Financial Times
The derisive laughter provoked in the US and Europe by the suggestion that the company appeared to be worth twice as much as ExxonMobil could have been heard in China .

China, India will push up oil, says IEA__Financial Times
Soaring demand for oil in China and India will raise long-term prices and increase the danger of disruption to supply, the International Energy Agency has warned .


11/6//2007

Beijing delay hurts shares in Hong Kong__Wall Street Journal
The Hang Seng Index has suffered its worst fall since 2001 after China’s premier confirmed the delay of a scheme to let Chinese investors buy Hong Kong stocks directly .

Beijing blocks Goldman purchase__Wall Street Journal
Regulators have rejected the bid to buy 10% of Fuyao Glass Group after a long approval process that has seen the glass maker’s stock rise three times the negotiated price

Alibaba debut unlocks Chinese treasure__Financial Times
At $1.5bn the floation of Alibaba.com will be the second-biggest internet offering after Google, and China's largest internet IPO.

PetroChina Soars, But How Big Is It? __Financial Times
PetroChina surpassed Exxon Mobil to become the world's largest company by one measure of market capitalization, though that may be due in part to idiosyncrasies of China's market.

Alibaba.com Looks to Expand __Financial Times
Alibaba.com plans to expand into Taiwan, Hong Kong, India and Japan, its CEO said.


11/5//2007

China Curbs Materials Sector, Giving Biggest Players an Edge__Wall Street Journal
China has spent this year trying to rein in the expansion of many industries. Yet the companies affected -- mainly makers of products like cement, steel and paper -- are often seeing their profits, and stock prices, go up.

PetroChina's A Shares Likely to Soar on Debut __Wall Street Journal
PetroChina Co. is set to make a strong trading debut here today on heavy institutional demand fueled by ample market liquidity and expectations of robust earnings growth.

China puts Hong Kong share plan on ice__Financial Times
China has frozen a proposal to allow mainland citizens to buy shares in Hong Kong, a decision that threatens to undercut the recent surge in the former colony’s equities.

Plan agreed on $19bn new Silk Road__Financial Times
Eight countries signed an agreement to spend $19bn on roads and railways running through central Asia to revive and expand the ancient route that connected China and Europe.

Hong Kong to have its first winery__Financial Times
The winery, a joint project between an Italian wine master and his Canadian and Hong Kong business partners, will use imported frozen crushed grapes.
 


11/2//2007

Blackstone uses China link for Nufarm bid__Financial Times
Blackstone has teamed up with China National BlueStar to bid for Australia’s Nufarm in a move that underlines the buy-out firm’s strengthening ties with China.

Cisco Systems to double China spending__Financial Times
Cisco Systems, the world’s biggest maker of internet switches and routers, expects to spend $16bn in China over the next five years, nearly double its expenditure in the country over the past half decade

Hong Kong to stick with US dollar__Financial Times
Recent actions of the HKMA offer a rare glimpse of the self-correcting mechanism, writes Tom Mitchell 

Alibaba.com's IPO May Signal New Path for Chinese Tech Firms__Wall Street Journal
Alibaba.com's IPO, which may herald a new fund-raising path for Chinese technology companies, has drawn record waves of subscription, as huge numbers of individuals and institutions want a piece of the offering.

Lenovo Will Shed IBM Name Early__Wall Street Journal
Lenovo plans to sever ties with the IBM brand earlier than expected, as the Chinese computer maker posted a surge in quarterly profit and ThinkPad shipments.



11/1//2007

Asian Central Banks Try To Cool Local Currencies__Wall Street Journal
Asian central banks intervened again in currency markets, trying to slow their currencies' rise on the dollar.

Flood of Money Strains Hong Kong's Dollar Peg__Wall Street Journal
Hong Kong's tie to the U.S. dollar shows the tensions between a slowing U.S. economy and China's rapid growth.

China's Current Account Grows__Wall Street Journal
China's current-account surplus reached $162.9 billion in the first half of this year, and the economy may continue to grow at an excessively fast pace in the second half.

Chinese shipbuilders plan IPOs__Financial Times
At least seven Chinese shipbuilders are planning share offerings, underlining China's efforts to build up its domestic fleet and branch out into the construction of more advanced vessels.

China pushes up fuel prices__Financial Times
Beijing was forced into an embarrassing policy U-turn when it raised the cost of petrol and diesel by almost 10 per cent as crude oil prices hit a record above $94 a barrel.