The People’s Bank of China has lowered its interest rate for the fifth time since November boosting European stocks higher in afternoon trading. The one-year lending rate has been reduced by 25 basis points to 4.6%, which is record low for China, according to Bloomberg. Lu Ting, chief economist at Huatai Securities Co. said the … Continue reading
“Chinese shares plummeted to extend the steepest four-day rout since 1996 on concern the government is abandoning market support measures,” Bloomberg reports. According to the news agency: The Shanghai Composite Index tumbled 7.6 percent to 2,964.97 at the close, sinking below the 3,000 level for the first time in eight months. The gauge has … Continue reading
Originally posted on Financial Post:
It is hard to imagine anything could overshadow a looming Greek exit from the eurozone, but leave it to China to do it. Analysts and economists everywhere Wednesday morning are now pointing to the ongoing crash of Chinese stocks as a huge new threat to global stock markets. “The growing…
The second largest stock market in the entire world is collapsing right in front of our eyes. By Michael Snyder Since hitting a peak in June, the most important Chinese stock market index has plummeted by well over 20 percent, and more than 3 trillion dollars of “paper wealth” has been wiped out. Of course … Continue reading
Originally posted on Financial Post:
China’s stocks look to be falling back down to reality. After an epic rally that saw the Shanghai Composite index climb more than 40% this year and the tech-heavy Shenzhen Composite rise a world-leading 90%, a correction — or maybe worse — looks to be in the works. Last week…
By Daqing Yao and John Whalley Since September 2013 China has been operating a new form of free trade zone (FTZ) based in a small area of Shanghai, called the China (Shanghai) Pilot Free Trade Zone (SPFTZ). Only 28 square kilometres in area, the SPFTZ is a concrete first step to China’s new development model, the … Continue reading
China is to announce soon the date of a breakthrough concept to connect two big stock markets: Shanghai and Hong Kong. The much-anticipated news was announced on Sunday and eased investors’ concerns the innovative scheme might have been suspended by Beijing. “The China central government places great importance in the Shanghai-Hong Kong stock connect scheme … Continue reading