HK & China - Market Direction 01 (May08 - Oct08)

[millionairemind]

Hi MM,

Let's hope u r right ! However, Shanghai is off it's peak now.

Those who shorted the HSI yesterday, must be thanking their lucky stars now

Take care,
Winston

W - U huat on your CW!!!

Congrats

[winston]

Thanks MM..

Very volatile. Just bought back

Olympics mah..

[winston]

CHINA SECURITIES JOURNAL

Chongqing Vice Mayor Huang Qifan said the city would take eight measures to help stabilise the stock prices of Chongqing-related listed companies.

Among the measures, the city will urge state shareholders to increase, rather than reduce, their holdings in listed companies. It will also support mergers and acquisitions.

====================

Is this a new trend ? When will it reach tipping point ? Or is it already an ongoing exercise ?

[iam802]

the M&A deals could be all those deemed as important by the Chinese government.

eg. They blocked the 'Delong' deal. (Not sure what is current status).

[-dol-]

The Olympics really started with a BANG.... Shanghai composite -116.49 (-4.27%) ...HSI -340.93 (-1.54%) as of now.

Let's wait for the gold medals to come... may be up 50 points for every gold...

So far, China's 1-1 stalemate with NZ in soccer is not very inspiring. The Chinese needed a last-minute equaliser against 10-man NZ in dusty Shenyang. Luckily, there was no riot - considering that this is some sort of grudge match - NZ destroyed Chinese dreams of qualifying for the World Cup finals in 1982. That match was played in Singapore... of all places...

[millionairemind]

The Olympics really started with a BANG.... Shanghai composite -116.49 (-4.27%) ...HSI -340.93 (-1.54%) as of now.

Let's wait for the gold medals to come... may be up 50 points for every gold...

dol,

All ki lorry liao..

And dragging my stocks down with it

Such is the way mkts are correlated...

Average down more???

Cheers,
mm

[winston]

*SHANGHAI A-SHARE INDEX CLOSES DOWN 127.33 PTS AT 2,734.36

The call that I was watching plunged to 0.131. Dare not buy and it is now 0.144 .

[-dol-]

MM,

What to do... the market is too schizophrenic at the moment

Averaging down works sometimes (particularly for those who know what they are doing) ... other times, it can be very dangerous... especially if this turns out to be worst than the average bear market. For now, the jury is still out. In the depression of 1929, the scale of the catastrophe became apparent in the autumn of 1930 - the US economy contracted 8.6% that year. In contrast, the US economy is still growing in 2008 (with the caveat that they can revise their figures later - like what they did in the previous quarter and the last recession of 2001).

[winston]

Hang Seng Index unchanged after quarterly review

HONG KONG, Aug 8 (Reuters) - The constituents of Hong Kong's blue chip Hang Seng Index .HSI will remain unchanged after a quarterly review, the index compiler said on Friday.

But China Railway Construction (1186.HK: Quote, Profile, Research, Stock Buzz) will join the China Enterprises Index .HSCE for Chinese companies listed in Hong Kong, replacing Guangshen Railway (0525.HK: Quote, Profile, Research, Stock Buzz), which will be removed from the index, Hang Seng Indexes Co said in a statement.

[winston]

China power firms seek subsidy to cover losses

China's power producers have lobbied Beijing for subsidies to ease the burden of fixed prices for electricity and soaring costs of coal that have pushed generators profit margins into the red.

Subsidies could help ease what is shaping up to be the worst power crisis since 2004 in the world's second-largest electricity market, with generators either unable to find the coal they need or loathe to buy it at such high prices.

China Electricity Council, a semi-official body representing generating firms, said the government should consider measures such as a rebate of value-added tax and an increase in loans to boost firms' cash flow, CEC said on its website late on Thursday.

REUTERS