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BRIC

The Chinese economy strong despite expected slowdown

The Senior resident representative of the International Monetary Fund (IMF) to China, Il Houng Lee, said the Chinese economy was fundamentally “still very strong” and the IMF has maintained its projection of China’s economic growth in Y 2010 at 10.5%.
In an interview in Hong Kong, where Lee was delivering a speech on economic outlook [...]

China stocks hit 2-month high, led by steel and cement makers

Chinese shares continued to advance Thursday, sending the benchmark index to the highest level in 2 months, led by strong gains in steel and cement makers.
The benchmark Shanghai Composite Index rose 0.55%, or 14.46 pts, to close at 2,648.12 pts.
The Shenzhen Stock Index was up 0.13%, or 13.74 pts, to close at 10,838.91 pts.
Total turnover [...]

Soros to Buy Stake in Indian Exchange

George Soros is in advanced talks to buy a 4% stake in India’s Bombay Stock Exchange (BSE) for US$35-US$40mil, two sources with direct knowledge of the situation said yesterday.
Soros Fund Management would buy the stake in Asia’s oldest stock exchange from Dubai Financial, part of sovereign fund Dubai Holding, the sources, who declined to be [...]

Chinese Yuan vs. the US demand

The conventional wisdom is that once the value of the Chinese Yuan is increased, the USA’s trade deficit with China would start falling. This reasoning has prompted many Americans to push for further, faster revaluation of the Yuan even after China changed its currency policy.
For those who endorse this rationale, the Yuan’s value is a [...]

Chinalco (ACH) unveils “under wrapped” deal with Rio Tinto (RTP)

Aluminum Corp of China (ACH) suspended trading in its shares Wednesday on expectations of a deal with Rio Tinto (RTP), the Anglo-Australian miner.
Rio and the Chinese state-owned miner, aka Chinalco, will hold a signing ceremony Thursday at 3:30p local time at the Great Hall of the People in Beijing. Rio declined to comment.
Early [...]

BRIC: Brazil’s loan rates at 16 yr low

Brazil’s average interest rate on individual loans dropped to a 16 yr low of 40.5% a year in June, from 41.5% in the previous month, the Central Bank said Tuesday.
The decline can be attributed to a fall in loans with high interest rates such as overdraft protection programs, said the bank.
“It was the [...]

Ford NYSE:F bringing all models to China

Ford CEO Alan Mulally said Monday that serving Chinese customers is one of Ford’s highest priorities, promising to bring all of Ford models to China.
“We have great operation in China, we are expending our operations in China, and bringing all of Ford vehicles to China as quickly as we can,” Mulally asid after unveiling [...]

China Stocks Break Winning Streak

Chinese shares snapped a winning streak from July 16 and closed 0.51 percent lower on Tuesday, with banking stocks dropping across the board.
The benchmark Shanghai Composite Index fell 0.51 percent, or 13.32 points, to end at 2,575.37 points.
The Shenzhen Stock Index declined 0.24 percent, or 24.92 points, to 10,566.21 points.
Total turnover shrank to 162.12 billion [...]

Hong Kong Stock Exchange Edges Higher

Hong Kong stocks gained 133.48 points, or 0.64 percent, to close at 20,973.39 on Tuesday.
The benchmark Hang Seng Index traded between 20,824.05 and 21, 008.78 before finishing the trading near the day high, on a turnover of 53.93 billion HK dollars (about 6.94 billion U.S. dollars).
Among the four sub-indexes of the Hang Seng Index, Commerce [...]

Hong Kong and China Stock Markets Rally

Hang Lung shares arethe best performing in the sector this year, up over 8 percent. Weakness in some of the previous week’s top gainers such as China Merchants Holdings (0144.HK), which fell 2.4 percent, was offset by a 6 percent gain in the Hang Seng Index’s worstperformer of 2010, cellphone maker Foxconn Holdings (2038.HK) [...]