Icbccss&p500usd Discussion Threads

[briarberry] 01/8/2010 20:16

BEIJING-China's manufacturing activity expanded at the slowest pace in 17 months in July, an official gauge showed Sunday, reflecting that tightening measures introduced earlier this year and growing uncertainty over global demand continued to weigh on the country's economic expansion.

China's official PMI, issued by the China Federation of Logistics and Purchasing and the National Bureau of Statistics, fell to 51.2 in July from 52.1 in June, the third straight month in which it has declined. The reading was also closer to the expansionary threshold of 50 than it had been in 17 months. A reading below 50 signals contraction.

WSJ.com

Separately, the HSBC China Manufacturing Purchasing Managers Index dropped to a 49.4 reading for last month from 50.4 in June, retreating for the first time in 16 months below the all-important 50-point level, which separates expansion from contraction

[briarberry] 30/7/2010 23:53

From The Economist print edition - Jul 29th 2010

China's banking regulator indicated that the country's banks face serious default risks on about 20% of the 7.7 trillion yuan ($1.1 trillion) they have lent to local-government financing vehicles. ICBC, the world's largest bank by market capitalisation, said it would raise up to $6.6 billion in a rights issue.

[briarberry] 27/7/2010 14:55

Emerging markets, over heating...


India's central bank increased a key interest rate more than economists forecast, battling to contain a surge in inflation that's triggered labor strikes and opposition-party organized public protests.

The Reserve Bank of India raised the reverse repurchase rate to 4.5 percent from 4 percent and the repurchase rate to 5.75 percent from 5.5 percent, according to a statement from the central bank in Mumbai. The median forecasts in a Bloomberg News survey was for a quarter-point increase in both the rates.



India's M3 money supply rose an annual 15.3%, up from 14.5% in June

[briarberry] 12/7/2010 12:59

New data show that China's frothy property market may have peaked, after a government clampdown on speculators.

Property prices across 70 cities fell 0.1% in June compared with May - the first monthly fall since February 2009.

...
Despite the monthly fall in June, property prices across China still remained 11.4% higher than a year ago.

[hectorp] 23/6/2010 08:59

China shares start to seem oversold IMO.
About time to take up some long positions, maybe use JMC.
H.

[briarberry] 14/6/2010 19:21

What Do China's Workers Want?

C. Cindy Fan...

Demonstrations are not new in China. Official records document tens of thousands of such cases every year, and the actual number may be much higher. What makes the latest strikes different is that management is giving in to labor's demands.

Responding to workers' discontent, Honda and Foxconn have both agreed to raise wages by large margins. Like dominoes, workers in other factories, including those in an electronic factory in Shenzhen and a textile factory in Hubei, have followed suit and gone on strike.

[briarberry] 14/6/2010 00:45

Property Prices, M2 etc...


Data yesterday showed property prices rose at a near-record pace, with costs jumping 12.4 percent across 70 cities from a year earlier. Government efforts to crack down on speculation have had an impact on sales, which tumbled 25 percent in May from the previous month. "

Foreign direct investment in China rose 27.5 percent in May from a year earlier to $8.13 billion, the Ministry of Commerce said today, increasing for the 10th straight month.

"The increase in consumer prices was the biggest in 19 months, while a separate report on producer costs showed the largest jump in 20 months, at 7.1 percent. The M2 gauge of money supply rose 21 percent in May from a year before after a 21.5 percent gain in April, the central bank reported. "

[briarberry] 30/5/2010 23:36

China is struggling to contain the threat of an overheating economy in the face of rising house prices, inflationary wage increases and a continuing surge in money supply, the head of the country's second-largest bank has warned...


China's manufacturing heartland had granted wage increases averaging 20pc this year.

Analysts add there is an increasing anecdotal evidence to suggest that China's official inflation figures do not reflect the true pace of price rises being felt by people on the ground. The price of some foodstuffs is up 20pc this year.

Tom Miller of the Dragonomics consultancy in Beijing said: "The Chinese government recently mooted that food subsidies be handed out to rural low-income families, which is a sure indication of the government's true concerns on inflation.

"The last time the government took that kind of measure was in April 2008 when consumer price inflation hit 8pc for three months running, which suggests the government knows that real inflation is higher than the official numbers suggest."

[briarberry] 17/5/2010 13:36

not sure if it means anything but it was a big drop...


The main stock index in Shanghai fell 5.1 percent to its lowest close in a year and its steepest one day fall in eight months.

[briarberry] 11/5/2010 13:15

China's inflation accelerated, bank lending exceeded estimates and property prices jumped by a record, increasing pressure on the government to raise interest rates and let the currency appreciate.

Consumer prices rose 2.8 percent in April from a year earlier, the fastest pace in 18 months, and property prices jumped 12.8 percent, the statistics bureau said in statements today. New lending of 774 billion yuan ($113 billion), announced by the central bank,

Producer prices jumped 6.8 percent

M2, the broadest measure of money supply, grew 21.5 percent, slowing from 22.5 percent.

[spennysimmo] 04/5/2010 19:25

Anthony Bolton's new Fidelity China Fund should be interesting.

[spennysimmo] 29/4/2010 19:52

Have we seen the best of investments in China? Is it a bubble about to burst or is the best yet to come?

[briarberry] 27/4/2010 01:53

Wrangling with the Wild Bulls - By Andy Xie

If China's banks are to avoid whiplash, unflinchingly tough action needs to be taken on raising interest rates and capital adequacy ratios

A double digit–growth rate and a howling one-third increase in property investment. Recent statistics, though far from accurate, unambiguously show an overheating Chinese economy as well as a speculative bubble. Consumption inflation is also likely to head towards double digits soon, even though official statistics still portray low inflation.

[briarberry] 22/4/2010 20:00

April 22 (Bloomberg) -- China's State Council has approved a trial property tax program in four cities, the Economic Observer reported today on its Web site, citing an unidentified person.

The trial will start in Beijing, Chongqing, and Shenzhen and then in Shanghai following the World Expo, the report said.

[briarberry] 21/4/2010 10:28

Shanghai Stock Exchange Composite Index - Everyone is watching this. Is the world recovering thanks to growth in China or will we get a double dip?

This might give us a clue ???


It's bounced to 3033, right on the line

[briarberry] 19/4/2010 17:09

April 19 (Bloomberg) -- China told banks to stop loans for third-home purchases as the government steps up measures to cool property prices with some of the "most draconian" orders yet. Shares of developers and banks tumbled.

Banks should also suspend lending to buyers who can't provide tax returns or proof of social security contributions, the State Council said in a April 17 statement. The latest measures come on top of orders to banks this year to set aside more deposits as reserves and raise mortgage rates, and steps to re-impose a sales tax on homes.

"These are the most draconian measures on the property market in history," Jun Ma, Deutsche Bank AG's Greater China chief economist, said in a note to clients today. Chinese press reports point to "panic selling" by investors who own more than one home in Shanghai, Beijing and Shenzhen, he said.