China stocks continue rise on reassurance
By FT reporters

Published: June 6 2007 06:48 | Last updated: June 6 2007 09:22

Chinese stocks rose moderately on Wednesday, as calm returned to the market following reassuring comments from the central bank and a major institutional investor.

The benchmark Shanghai Composite Index closed up 0.24 per cent to 3,776.3, extending Tuesday’s 2.6 per cent gain.

The Shenzhen Composite Index, which tracks the smaller of China’s two stock exchanges, was 1.9 per cent higher at 1086.22.

Wu Xiaoling, a deputy governor of the People’s Bank of China, on Wednesday urged investors to keep faith in the long-term prospect of the market. She said recent volatility in share prices would not damage the world’s fourth-largest economy as long as the market did not turn ”unhealthy”.

Gao Xiqing, vice chairman of China’s National Social Security Fund, one of the country’s biggest institutional investors, was quoted by Reuters news agency as saying he was “positive” about the long-term outlook of the market.

BSE down 279 points to 14,255.93

INDICES Points +-Pt +-%
SENSEX ê 14,255.93 -279.08 -1.92
MIDCAP ê 6,181.91 -79.11 -1.26
SMLCAP ê 7,389.76 -96.91 -1.29
BSE-100 ê 7,333.56 -149.76 -2.00
BSE-200 ê 1,737.55 -34.36 -1.94
BSE-500 ê 5,562.62 -104.94 -1.85

Europe down with DAX below 7800. Brent once again in $72 territory. Texas crude at $65.

The ride is bumpy. Hang on to your seats!

Housing in Ontario for the first time crossed more than 10,000 homes in a month!May was good!

Looks like China is recovering slowly but surely with index up near 4,000 again.

Here's an article on the sentiment in China

Investor fever drops after market slump
By Dong Zhixin (chinadaily.com.cn)
Updated: 2007-06-08 16:53

Chinese investors' enthusiasm in the country's stock market was greatly affected following a series of sharp falls caused by last week's stamp tax hike.

The drop in fervency could be seen in the decline of the number of new A-share trading accounts opened each day. On Tuesday, the figure fell to a two-month low of 162,000, compared with a record 385,000 on May 28, the day before the duty increase.

The number climbed to 206,000 on Wednesday, but fell again to 180,000 the following day, indicating instability in market sentiment.

As the number of new accounts dropped, investors weren't as bullish for the stock market.

In contrast with glowing forecasts of 6,000 or even 7,000 points mark for the benchmark Shanghai Composite Index at yearend, many investors have lowered their expectations to 5,000, or lower. The index recorded an all-time high on May 29, at 4,335.34, an increase of nearly 62 percent from the start of the year.

"The index is unlikely to scale new highs within the year," said a 60-year-old investor surnamed Ren on Thursday at the Huixin Dongjie Branch of Xiangcai Securities.

Another investor, calling himself Zhao, agreed, adding maybe the government would not like to see the index above 4,300.

The veteran investor expects another major correction following the launch of stock index futures, which might happen in the latter half of the year.

Civil servant Tao was also worried. "I do not know," he replied when asked about his prediction about how the market will perform. "Maybe no one knows."

However, 49-year-old Liu was still bullish, even after the value of his portfolio of 100,000 yuan shrank more than 30 percent in the last week. "There is always ups and downs. China's bull run has just started," he said firmly, echoed by several female invesetors.

China's stock market became highly volatile after the Ministry of Finance tripled the stamp tax on stock transaction to 0.3 percent on May 29, as investors, fearful of further tightening measures, went on panic selling.

The Shanghai Composite Index tumbled 6.5 percent the day after the duty hike before plunging 8.3 percent on Monday for the second sharpest fall in a decade.


http://www.chinadaily.com.cn/china/2007-06/08/content_890461.htm

BSE down 122 points

INDICES Points +-Pt +-%
SENSEX ê 14,063.81 -122.37 -0.86
MIDCAP ê 6,156.22 -31.75 -0.51
SMLCAP ê 7,342.59 -48.43 -0.66
BSE-100 ê 7,229.12 -73.07 -1.00
BSE-200 ê 1,714.59 -15.90 -0.92
BSE-500 ê 5,492.05 -50.28 -0.91


Europe and North America are bleeding.

As my friend on Dalal Street says, China ka ______ zor hai. Aur dunia ko to ______ lag gaye hain.

The first blank uses the word in singular, the 2nd blank uses it in plural.
Let your imagination run wild!

Brent hit 73 yesterday- down to 72 today. West Texas at 66. CAD down slightly yesterday.

http://www.iht.com/articles/ap/2007/06/11/asia/AS-FIN-MKT-China-Markets.php

SHANGHAI, China: Chinese stocks rose for a fifth day Monday as investors returned following recent sharp losses. But some remained skittish over a possible interest rate hike if inflation is shown to be worsening in figures to be released Tuesday.

"Some investors ... are returning to the market, but they still don't dare buy aggressively yet," said Zhou Lin, an analyst at Huatai Securities.

The benchmark Shanghai Composite Index, which tracks both yuan-denominated A and foreign currency B shares, turned up 2.1 percent at 3,995.68, after rising to as high as 4,000.42 in light trading

BSE after opening high with a gap of 100+ points and trading laterally drops at day's end to finish up only 19 points


INDICES Points +-Pt +-%
SENSEX é 14,083.41 19.60 0.14
MIDCAP ê 6,129.48 -26.74 -0.43
SMLCAP ê 7,320.01 -22.58 -0.31
BSE-100 é 7,242.62 13.50 0.19
BSE-200 é 1,716.07 1.48 0.09
BSE-500 é 5,493.37 1.32 0.02


Europe up. Dow futures up.

Brent falls $4 to $68 range!

The benchmark Shanghai Composite Index climbed 1.9 percent to 4072.14. The index is 6.1 percent off its all-time high of 4335.96 reached on May 29.

http://www.pr-inside.com/most-asian-markets-advance-but-nikkei-r151099.htm


BSE up 47 points to 14130


INDICES Points +-Pt +-%
SENSEX é 14,130.95 47.54 0.34
MIDCAP ê 6,084.40 -45.08 -0.74
SMLCAP ê 7,228.88 -91.13 -1.24
BSE-100 é 7,248.45 5.83 0.08
BSE-200 ê 1,715.23 -0.84 -0.05
BSE-500 ê 5,484.96 -8.41 -0.15

Europe down. Nikkei down. HK up. Dow and S&P futures down.

Seesawing.

"It is not enough to aim, you must hit."
-Italian Proverb

SHANGHAI (XFN-ASIA) - A-shares in Shanghai and Shenzhen closed lower on credit-tightening fears after Premier Wen Jiabao urged the government to take 'appropriate' steps to keep the economy from overheating, dealers said.

The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed down 61.27 points, or 1.47 pct, at 4,115.21, after moving between 4,085.79 and 4,179.73.

Turnover fell to 185.91 bln yuan, from 220.48 bln yuan in the previous
session.

http://www.forbes.com/markets/feeds/afx/2007/06/14/afx3820325.html

BSE up 200 points to 14203

INDICES Points +-Pt +-%
SENSEX é 14,203.72 200.69 1.43
MIDCAP é 6,161.61 95.98 1.58
SMLCAP é 7,320.91 96.64 1.34
BSE-100 é 7,301.21 112.83 1.57
BSE-200 é 1,729.52 27.65 1.62
BSE-500 é 5,533.67 87.82 1.61


Europe up. Brent at $70. Texas crude at $66.

Howdy brethren,

Just thought I'd share a few pearls with you folks about yesterday's Morningstar conference on Global investing.

Patricia Croft and Doug Porter, both respected macro-economists, opine that in the long run India will outshine China.

A bond badshah, Scott Colbourne claims that 3 interest rate hikes are in the offering in Canada this year.

Long term bond rates in the States are looking to go up to 5.5% so more mortgage rate increases are on the cards.Already a bank has zapped up rates yet again. 3 times in the last month or so.That's due the crazy run-up in long term bond yields.

BEIJING, June 15 (Xinhua) -- China's share prices posted modest gains on Friday as the benchmark Shanghai Composite Index rose 0.43 percent, or 17.66 points, to end at 4,132.87.

The key Shanghai index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, traded between 4,067.36 and 4,152.54 on turnover of 157.4 billion yuan (20.6 billion U.S. dollars).

http://news.xinhuanet.com/english/2007-06/15/content_6247821.htm

BSE down 41 points

INDICES Points +-Pt +-%
SENSEX ê 14,162.71 -41.01 -0.29
MIDCAP é 6,180.92 19.31 0.31
SMLCAP é 7,350.25 29.34 0.40
BSE-100 ê 7,300.86 -0.35 0.00
BSE-200 é 1,729.90 0.38 0.02
BSE-500 é 5,537.89 4.22 0.08


TSX up over 14000 again. Dow up. Hk up Nikkei up. Dax above 8000 again.

Brent crude at 72 and West texas crude at 68

Gold in 650 range and silver 13 +