Asiamoney

China

2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

Deutsche loses key sales traders in Hong Kong

10 Mar 2010 Stock & exchange, Market move
Ricky Lo and May Tsang quit Deutsche Bank’s Hong Kong and China sales trading team today, asiamoney.com can confirm. Both had been with the firm for more than nine years, although their future destination is unknown.
Opinion: China right to take slow road on futures

10 Mar 2010 Stock & exchange, Nations & economies, Editorial
Trading in stock index futures is set to start next month in China after years of preparation. Investors say the minimum deposit of Rmb500,000 is too onerous, but the regulator’s push for a high entry barrier is the right one.
Opinion: why China Mobile must come clean

09 Mar 2010 M&A, Stock & exchange, Nations & economies, Editorial
The world’s largest mobile telecoms operator should divulge the real reasons behind its plan to buy a stake in Shanghai Pudong Development Bank or risk seeing billions more being wiped off its market capitalisation.
Business news: the past week in Asia

26 Feb 2010 Market wrap
BoCom announces plans for a rights issue, while Morgan Stanley moves closer to selling its stake in CIC. Hong Kong said it would raise taxes to deflate a potential property bubble and Dai-ichi Life’s targets what would be the world’s largest IPO this year.
Steps outlined as renminbi creeps towards convertibility

25 Feb 2010 Nations & economies, Foreign exchange
China has liberalised its currency cautiously in recent years, but as its economy grows, pressure to allow the renminbi to become fully convertible will rise quickly. Chris Wright reports.
Subscribe to BoCom’s rights issue, HSBC urges clients

25 Feb 2010 Stock & exchange
Bank of Communications announced this week it was seeking to raise more than US$6 billion via a rights issue. Significant shareholder HSBC is advising clients to sign up since it will help the lender to achieve better growth.
Opinion: India must try harder in race for energy assets

24 Feb 2010 Editorial, Commodities, Energy
Asian state firms have been vying for oil and gas assets abroad, notably China and South Korea, to reduce dependence on imports. Now India has joined the fray, but its firms need to improve their public relations.
Macquarie outlines potential of nuclear power in Asia

24 Feb 2010 Stock & exchange, Nations & economies, Energy
China’s and India’s growing need for nuclear power will boost the fortunes of companies in the supply chain, many of which are based in Asia, notes Macquarie as it highlights its regional picks in the sector.
Ulrich adopts cautious tone on China growth

24 Feb 2010 Stock & exchange, Nations & economies
In contrast to her stance a year ago, J.P. Morgan’s chairman of China equities and commodities Jing Ulrich admits she is cautious about China’s growth prospects because of likely monetary tightening and a ‘monumental’ property bubble.
StanChart Private Bank makes senior North Asia hires

19 Feb 2010 Market move, Private banking
Standard Chartered Private Bank has appointed Stella Kong as head of relationship management for China, and Trevor Mak as head of relationship management for Hong Kong, asiamoney.com can reveal. Both started this week.
HSBC sees buying opportunity in Chinese stocks

19 Feb 2010 Stock & exchange, Nations & economies
The bank believes expectations of interest rate hikes by China are exaggerated and that the recent equities decline presents a buying opportunity for investors. But it is bearish on Indian stocks because the risk of inflation.
2010 could be boom year for China private equity

17 Feb 2010 M&A, Private equity
Auctions and bidding wars could become commonplace as domestic and foreign firms fight for Chinese assets. But local investors are confident of their ability to perform despite claims they are less experienced rainmakers, writes Mergermarket.
Opinion: China and India must open their markets

12 Feb 2010 Stock & exchange, Editorial, Bonds
Asia has recovered strongly from the global financial crisis, but China and India must develop their domestic capital markets and allow in more international investors if their economies are to reach their full potential.
Asia’s distressed assets worth up to US$50 billion

11 Feb 2010 Bonds, Loans, Asset management
Income Partners and Deutsche Bank estimate that there are US$40 billion to US$50 billion of potentially distressed assets in Asia and Australia, with many companies avoiding default only because of the low interest rate environment.
Credit Suisse tips HK and China small-cap stocks

11 Feb 2010 Stock & exchange
Shares in Hong Kong and China and small-cap stocks look set to outperform as the pace of economic recovery in Asia slows, predicts Credit Suisse. Additionally Hong Kong’s equity market is likely to become more volatile.
China's GDP is larger than Japan's: Morgan Stanley

11 Feb 2010 Nations & economies
The US investment bank predicts that China may well already have surpassed Japan to become the world’s second-largest economy. It predicts that the People's Bank of China will need to raise rates three times this year.
Business news: the past week in Asia

11 Feb 2010 Market wrap
Australia’s richest man gets Chinese funding for a mega-mine, Kirin and Suntory end merger discussions, Temasek launches a new US$4 billion fund, and Taiwan lets its chip- and screen-makers invest more into the mainland.
Renminbi's rise will be slower than expected: HSBC

10 Feb 2010 Foreign exchange
The renminbi should appreciate in the second quarter, but its rise could be slower than most what market observers expect. Beijing is unlikely to conduct a one-off currency gain.
Beijing will attempt to avoid rate hikes, says Moody’s

10 Feb 2010 Nations & economies
The credit rating agency predicts that the People’s Bank of China will sparingly increase interest rates this year, preferring to use bank reserve and treasury bond yield increases to control credit growth and inflation.
Asia export slowdown could halt central bank rate hikes

09 Feb 2010 Nations & economies
The growth of exports in the region could begin to taper off this year, prompting central banks might to keep fiscal and monetary policy more accommodative than previously thought.
State Grid of China bond behemoth heads busy markets

09 Feb 2010
The mainland electricity grid operator conducted the second-largest bond issue from Asia-Pacific ex-Japan, and was joined by several notable international bonds. Asiamoney.com rounds up last week’s key regional capital market activity.
Buy China health and consumer stocks, advises investor

09 Feb 2010 Stock & exchange, Asset management
Investors should accumulate healthcare and consumer stocks in China as a long-term investment despite the recent downturn in the country’s equities, according to a fund manager at Neuberger Berman.
China is growing too fast, say Goldman's Jim O’Neill

09 Feb 2010 Stock & exchange
The country’s GDP growth is currently too rapid for its policymakers' liking, who are already trying to tighten monetary policy, says Goldman Sachs' chief global economist Jim O’Neill.
Selloff in global credits offers Asia opportunities

09 Feb 2010 Bonds
The recent sell-off in Asian credits offers investors an opportunity to buy into select defensive names at appealing yields. Analysts at Nomura highlight four bonds sold last week as particular examples.
Nomura forecasts rebound for China banking stocks

04 Feb 2010 Stock & exchange
The Japanese bank says concerns over potential policy tightening are overdone and that market declines have already priced in negative impact from interest rate rises. It likes the earnings visibility and valuations of bank stocks.
Method of renminbi appreciation divides panelists

03 Feb 2010 Foreign exchange
Participants at the Euromoney Asia Forex Forum debated the pros and cons of one-off revaluation against gradual appreciation. While the latter ends near-term speculative inflows, the former offers a longer-term approach.
China equity investors urged to diversify overseas

02 Feb 2010 Stock & exchange, Asset management
Retail investors have piled into China’s equity markets on the back of surging growth. But relatively expensive valuations and fears over asset inflation mean it is time for domestic investors to seek education on how to diversify successfully overseas, say fund managers.
China PMI figures underline inflationary pressures

01 Feb 2010 Nations & economies, Loans
Industrial activity accelerated at record pace in China last month, but rising input and output prices highlight mounting inflationary pressures and raise the likelihood of further fiscal tightening measures.
Country deals of the year: China

27 Jan 2010 Stock & exchange, Polls & awards
There has been a tidal wave of Chinese IPOs, but one stood out above the others. Sinopharm Group's US$1.3 billion debut in Hong Kong attracted huge interest and wins Asiamoney's award as China's best of the past year.
Fears of China overheating seen as exaggerated

26 Jan 2010 Stock & exchange, Nations & economies
Analysts at Credit Suisse say China is experiencing financial, rather than economic, overheating. They see recent declines in the country’s equity markets as a buying opportunity and highlight some favourite picks.
China urged to temper inflation threat

25 Jan 2010 Real estate, Nations & economies
The country’s central bank must send a strong tightening signal to dampen inflation expectations, says RBS’ chief China economist Ben Simpfendorfer. He admits to concerns over the threat of asset price bubbles.
HSBC sees H-shares as a buying opportunity

24 Jan 2010 Stock & exchange
The bank notes recent declines in China H-shares and suspects the Hang Seng China Enterprise Index could fall up to 20% in the next few weeks. However it sees counterparts on the A-share index as too expensive, still.
BNP inks Taiwanese asset management JV

24 Jan 2010 Asset management, Market move
The asset management arm of BNP Paribas has signed a deal with Taiwan Cooperative Bank to form a joint-venture company. The match appears to be a promising one as the island’s financial markets continue to develop.
Business news: the past week in Asia

22 Jan 2010 Market wrap
China's GDP grew at 10.7% in the fourth quarter, raising the liklihood of monetary tightening, while regulators also ordered some China banks to halt lending to rein in credit growth. Japan Airlines filed for bankruptcy protection and SocGen ran into trouble in India’s equities market.
Aberdeen harbours hope over access to China investors

21 Jan 2010 Stock & exchange, Nations & economies
Aberdeen Asset Management director Alex Boggis reveals his optimism about gaining greater access to domestic investors and funds in China, despite regulators scrapping plans for its “through-train” programme.
CapitaLand doubles China holdings with Orient buy

19 Jan 2010 M&A, Real estate
South-east Asia’s largest developer spent US$2.2 billion buying property assets of Orient Overseas International. The deal is part of the firm's plan to expand its China business to 45% of total assets in the next five years.
Mild correction forecast for China’s property market

18 Jan 2010 Real estate
Ratings agency Moody’s is predicting fewer transactions and moderate price corrections in China’s property market after Beijing introduced measures to dampen speculation. Still, it does not expect a drastic decline.
Opinion: Beijing was right to derail the through-train

16 Jan 2010 Stock & exchange, Editorial
Scrapping the “through train” plans that would have allowed domestic investors to buy Hong Kong-listed stocks directly is a positive. It shows that when it comes to China’s nascent financial market, it pays to be patient.
Opinion: why China's lending could crimp GDP growth

14 Jan 2010 Nations & economies, Loans
The nation’s lending splurge over the past year will have ramifications later this year, with interest rates and the renminbi set to rise. That, in turn, could impact the pace of the country’s economic expansion.
China’s reserve ratio hike to hit banking stocks

13 Jan 2010 Stock & exchange, Nations & economies, Loans, Foreign exchange
Beijing’s decision to raise banks’ reserve requirement ratio 50 basis points to 16% is likely to have a negative impact on Chinese equities, note analysts. It also raises expectations about interest rate hikes and adds to speculation that Beijing will relax the dollar peg.
China shows it’s serious about reining in lending

13 Jan 2010 Stock & exchange, Nations & economies, Bonds, Loans, Foreign exchange
By increasing the reserve requirement ratio, the People’s Bank of China has sent out a strong message, and further hikes are expected. Some believe it was motivated to rein in credit growth and to suck liquidity out of the system, with billions in PBoC bills set to mature.
Citi highlights Greater China challenges for investors

12 Jan 2010 Stock & exchange, Nations & economies
Stock markets offer upside potential, but the pace of gains is uncertain and the environment promises to be more challenging this year than last, the US bank says.
Strong foreign equity flows forecast for Asia

12 Jan 2010 Nations & economies, Foreign exchange
Foreign investors will continue to focus on growth prospects and currency appreciation, notes Calyon. China is expected to resume renminbi appreciation soon, which could spur other Asian nations to follow suit.
Deutsche sees modest China equity gains in 2010

11 Jan 2010 Stock & exchange, Nations & economies
Stock gains should not top 15% in 2010 as Beijing starts to tighten monetary policy, predicts Deutsche Bank. It believes sectors positively linked to inflation and exports are likely to do well, as will clean and renewable energy.
Offshore issuers target entry to China’s stock markets

10 Jan 2010 Stock & exchange, Nations & economies
After years of talk but little progress, the mainland’s regulators could soon give the go-ahead for international issuers and red-chip companies to list shares in Shanghai.
Business news: the past week in Asia

08 Jan 2010 Market wrap
Japan’s government names a new finance minister while Beijing edges up local borrowing rates. The Philippines enjoys great demand for its bond reopening, while firms set to list on the ChiNext exchange are enjoying such good demand that the bourse could alter its rules to dampen investor enthusiasm.
China looks for billions to fill bank funding hole

07 Jan 2010 Stock & exchange, Nations & economies
Beijing wants its major financial institutions to raise vast amounts of capital to sustain their lending. The equity deluge will challenge the priorities of sovereign wealth funds and large fund managers alike.
CLSA hires investment banker Lai from SocGen

07 Jan 2010 Investment banking, Market move
Paul Lai started this week as head of Hong Kong and Greater China investment banking at CLSA. He quit Société Générale late last year and is a former head of Hong Kong investment banking at HSBC.
SocGen names new head of global markets for China

04 Jan 2010 Commodities, Bonds, Foreign exchange, Market move
Société Générale appoints Yang Duan to replace Gilbert Tse, who recently moved to Lyxor Asset Management. Yang joins from Standard Chartered, where he was head of China sales and fixed income.

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