China Financial Daily

September 29, 2008

Financial Crisis Effect

Filed under: Financial News — Tags: , , , — Nancy @ 7:31 pm -0700

Asian foreign exchange markets in early trading on the 30th U.S. dollar are against Japanese yen, hitting the lowest in four months
Comprehensive news coverage on September 30: 30 Asian foreign exchange markets in early trading, the dollar is against the yen after touching 103.53 yen, the lowest since the end of May. In the United States 700,000,000,000 U.S. dollars rescue from the House of Representatives is rejected by the accident, leading to the eve of the U.S. stock market. Investors sell off any high-risk site.

After the Day it will continue rebound
Brokerage believes that the performance of listed companies and the growth is important to choose stocks based on. Recently, the policy has been warmer. Since the Ministry of Finance and the SASAC encouraged the controlling shareholders of listed companies stock holdings, there are more and more holdings of the controlling shareholder of the increasing number of cases and high enthusiasm.

Citigroup Will Buy Wachovia
Citigroup will buy Wachovia and assume operational 312,000,000,000 U.S. dollars in loans of a maximum of 42,000,000,000 U.S. dollars loss. Comprehensive Beijing newspaper reported on Monday night that the U.S. Federal Deposit Insurance Corporation (FDIC) said that Citigroup will acquire the Wachovia Bank in a difficult situation.

Sinopec 4,300,000,000 shares will be post-banned, accounting for more than half of the percentage of outstanding shares
A China Petrochemical will post-ban on October 10 the sale of shares 4,300,000,000 shares limited, representing the proportion of the outstanding shares of 51.01 percent of the total capital ratio of 5%.Southwest Securities based on recently released data, and reported in October the restrictions limit the sale of shares in China’s petrochemical monopoly 43,091,000,000 yuan, for a total 50.22 percent of 85,800,000,000 yuan.

Curing the financial crisis, China and Integrated Traditional and Western Medicine has a good effect
CBRC Chairman Liu Mingkang of Tianjin in Tianjin attended the 2008 Davos Forum, said: “The current in the United States since the Great Depression, is the worst financial crisis in the world, but it is still monitoring the local, international cooperation which should be strengthened . “He strengthened international cooperation against high expectations of the financial crisis.

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September 27, 2008

Lager Industry & Goverment Policy

Filed under: Financial News — Tags: , , , , , — Nancy @ 9:46 pm -0700

Sinopec wants to buy Tanganyika Oil Ltd. (TYK.T) for 2 billion dollars
China Petrochemical Corporation plans to buy Tanganyika Oil Ltd. (TYK.T) for 2.07 billion CADs (for about 2 billion dollars). Yesterday, Sinopec Group, the people accepted the “Daily News”, to say the acquisition plan is in progress, and the timetable for the completion of the final is not sure, but the success of the acquisition is unknown. Because, TYK.T also needs the approval of shareholders.

How much the increase of holdings of major shareholders can support?
More importantly, the support price is for the company’s performance and development prospects. In no uncertain market trends, controlling shareholder of the investment holdings may not be reliable. Shareholder motivation of holdings is different, and their company’s stock traded on the secondary market is for more long-term plans with a high throw & some bargain-hunting colors.

White giant Siemens became the ammunition of a price war between the Gome and Suning
Following the Suning Appliance being released the news this week, that on the Second National Day Golden Week Siemens refrigerator would depreciate, Gome and Dazhong who have been fighting respectively, yesterday announced a joint statement, to say that the joint operation will be  a big advantage of size to launch greater offensive toward Siemens refrigerator.

Wen Jiabao: The development of Chinese economy has not changed in basic side.
2008 annual meeting of the new leader (Summer Davos Forum) on September 27 began at 16:40-17:30 pm, and the sixth plenary meeting was held. Premier Wen Jiabao attended the opening plenary session, as the Part of the record following.

Two kinds of rate down, “Gold October & Silver September” maybe the good opportunity of buyer for hunters
With lending rate and deposit reserve ratio both downing and the downturn giving the property market numerous reverie, it was even boasted that Chongqing property market will warm because of this. Recently, the reporter interviewed some real estate industry.

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