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Old 16th August 2007, 06:25 AM
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Chinese share prices hit new high despite high CPI figure

BEIJING, Aug. 13 (Xinhua) -- Chinese share prices continued to rise on Monday, with the benchmark Shanghai Composite Index reaching a record high of 4,839.95 points during the morning session before closing at 4,820.06 points, 70.69 points higher than the previous close.

Power supply firms, banks and petrochemical stocks led the advance. Huaneng International, China's largest power supply company, jumped 5.62 percent to 13.73 yuan per share.

The Industrial and Commercial Bank of China (ICBC) rose 6.13 percent to 7.10 yuan per share. As the largest bank in China, the ICBC's market value has surpassed CitiBank and Microsoft, becoming the world's third largest listed company. The Bank of China soared8.61 percent to 6.31 yuan per share....

http://news.xinhuanet.com/english/20...nt_6523770.htm

Crisis? What Crisis :p

Incidentally that make ICBC, the World's largest bank by capitalisation. The World's two most valuable companies are Exxon Mobil, and General Electric Co.
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Last edited by Rubber Duck; 16th August 2007 at 06:57 AM..
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Old 16th August 2007, 06:58 AM
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Re: Chinese share prices hit new high despite high CPI figure

China does not allow it's citizens to invest outside the country easily, so there's too much cash flushed in the system, becoming a bubble.

The system is still very much closed up and restricted for investments.

It is difficult to setup a business, difficult to bring money out, difficult to get licenses, difficult to get a loan. Even foreigners are restricted to one property, and i heard that in Beijing, you must work in Beijing to buy a property.
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Old 16th August 2007, 07:03 AM
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Re: Chinese share prices hit new high despite high CPI figure

Quote:
Originally Posted by touchring
China does not allow it's citizens to invest outside the country easily, so there's too much cash flushed in the system, becoming a bubble.

The system is still very much closed up and restricted for investments.

It is difficult to setup a business, difficult to bring money out, difficult to get licenses, difficult to get a loan. Even foreigners are restricted to one property, and i heard that in Beijing, you must work in Beijing to buy a property.
Yes, but as many of these restrictions are lifted prices can only go higher. Can you imagine what it would be like if there were a free for all for Western Speculators?
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Old 16th August 2007, 07:25 AM
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Re: Chinese share prices hit new high despite high CPI figure

Quote:
Originally Posted by Rubber Duck
Yes, but as many of these restrictions are lifted prices can only go higher. Can you imagine what it would be like if there were a free for all for Western Speculators?

There will be chaos. Western, including Australian funds still primarily go to America as the recent news has revealed. The West is financing America's real estate market.

The decoupling concept is now proven to be a fallacy. Asia finances America's consumption, Europe finances America's real estate, and America in turn creates jobs for Europe and Asia.

Last edited by touchring; 16th August 2007 at 07:42 AM..
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Old 16th August 2007, 07:27 AM
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Re: Chinese share prices hit new high despite high CPI figure

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Originally Posted by touchring
There will be chaos.
No, there is a slow and gradual liberalisation of the markets.

That is what is know as responsible government. Probably a bit of a novel concept in some quarters.
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