Read Larry Connors' blog – Short Term Trading Strategies
SOUTH CHINA MORNING POST:
- China Eastern Airlines (SEHK: 0670) said yesterday it raised seven billion yuan (HK$7.94 billion) by selling new shares to its parent to strengthen its balance sheet amid a deteriorating operating environment.
- Beijing Automotive Industry Corp is poised to announce a merger with Fujian Motor Industry Group that will cement its bid to become the mainland's fourth-largest carmaker, according to sources.
- After years of bitter wrangling with the Zhuhai government, banks owed HK$8 billion after state investment company Zhu Kuan's spectacular collapse in 1998 are finally about to get some money back.
- The mainland's fragmented insurance industry is undergoing a shake-up as smaller and financially vulnerable players continue to battle to meet tightened regulatory solvency requirements during the economic downturn.
- The mainland's fragmented insurance industry is undergoing a shake-up as smaller and financially vulnerable players continue to battle to meet tightened regulatory solvency requirements during the economic downturn.
- Nearly a year after the credit crisis and tightened visa restrictions on mainland visitors brought Macau's blistering growth to a halt, casino operators have managed down expansion expectations and are focusing on the bottom line rather than the pipeline.
- Li Lang, the first mainland menswear designer to show a collection at Milan Fashion Week, is drawing up plans to raise about US$100 million in a Hong Kong share sale.
- Hong Kong's equity capital market is expected to enjoy strong growth this second half of the year, driven by an increasing number of sizeable initial public offerings and more issuances from listed companies.
THE STANDARD:
- Hong Kong stocks will rise this week as international investors continue to favor China plays, market watchers said.
- The Hong Kong office rental market remains under pressure amid the global economic downturn despite some activity in the sector.
- China will likely push for a bigger voice for developing countries in international monetary policy at the G8 meeting this week, but a top mainland diplomat said it will not raise its proposal for a new global currency to replace the dollar.
- A Jinan-based venture capital fund set up by the British investment firm Rockley Group will help Chinese companies acquire foreign technology to drive sustainable development, the fund's founder told The Standard.
- China is set to launch its first exchange- traded fund - tracking A-share-listed state-owned enterprises - to domestic investors.
- China National Petroleum Corporation is switching the focus of its overseas acquisitions program to Venezuela following its successful bid for assets in Iraq last week.
cg
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