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State fund becomes market player

2006-03-21T18:32:00.000+08:00

Tuesday, March 21, 2006ENOCH YIU and BEI HUThe National Council for Social Security Fund (NSSF) has opened an account in the local stock market's clearing house, indicating that it has successfully lobbied mainland authorities to allow it to receive shares, rather than cash, from the initial public offerings of state-owned enterprises.Market sources say that such a major policy shift will mean

Big Name Bets on Small Deals

2006-03-21T18:26:00.000+08:00

Goldman FindsGrowth on the Cheap In Hong Kong-Listed FirmsBy KATE LINEBAUGHMarch 21, 2006; Page C14HONG KONG -- Investors hunting for small China or Hong Kong plays might consider following the money. Goldman Sachs' money.In recent months, Goldman Sachs Group Inc. has invested US$140 million in three small Hong Kong-listed companies in businesses ranging from construction to gas exploration.

China: What Next?

2006-02-13T00:50:00.000+08:00

Andy Xie (Hong Kong) *****Overcapacity is causing investment slowdown: I estimate that fixed investment in industries that are experiencing overcapacity contributed 40-50% of GDP growth in 2005. Without other components of the GDP accelerating, China’s economy should slow in 2006. *****Spending more on infrastructure won’t reverse the trend: The infrastructure areas that can justify more

China Steelmaking Capacity Balloons

2005-10-05T01:26:00.000+08:00

Global Industry Group FearsBuildup Could Hurt PricesDespite Growth in Demand By PAUL GLADERStaff Reporter of THE WALL STREET JOURNALOctober 4, 2005; Page A6 SEOUL -- World steel industry leaders are worried that mounting overcapacity in China could push down steel prices at some point, despite continued steady demand growth for their products world-wide. "In coming years, there will be

Prices Fall in Manhattan As Housing Market Cools

2005-10-05T01:24:00.000+08:00

By DANIELLE REEDDOW JONES NEWSWIRESOctober 4, 2005 12:44 p.m. NEW YORK -- Housing market watchers can exhale. Prices in some of the nation's hottest markets are at least leveling off, and in some cases even coming down. In New York, a report prepared by appraisal company Miller Samuel Inc. on behalf of real estate firm Prudential Douglas Elliman released Tuesday showed that average

日民間企業平均薪資連續7年減少

2005-10-04T01:29:00.000+08:00

日本的國稅廳根據去年所得稅繳納情形調查了在民間企業工作的人的平均薪資，結果發現民間企業平均年所得為438萬8000日圓(約台幣131萬6400元)，較前一年下滑了5萬5000日圓(約台幣1萬6500元)，已是連續7年的減少。　　而去年一年在日本民間企業工作賺取所得的工作者數，也較前一年少了13萬人(0.3%)來到4453萬人，整體薪資總額也較前一年減少了2兆8529 億日圓(1.4%)，來到195兆4110億日圓，這個數字也是連續7年減少。　　之所以會減少，依國稅廳的評估，主要是因為換工作的人增加，且改變企業雇用型態從正職改為兼職或是打工的企業增加，

美國市場掀起液晶電視「超低價」行銷戰

2005-10-04T01:25:00.000+08:00

台灣日本綜合研究所副所長林武雄從今年開始，美國的液晶電視市場販賣台數是明顯地增加，其中成長最快的當推「Western House」、「Magnavox」、「Polaroid」等三個品牌。這三個品牌的市佔率在年初就達到10%，同時每月都呈現快速的成長、可謂來勢洶洶。至今年6月底，全美地區已突破30%的市佔率。　　根據調查指出，這三家品牌「人氣」走紅的理由在於「低價位」。就以26吋液晶電視而言，Sharp、三星等名牌的商品店頭售價是1500美元左右，但前面所言三種品牌相同尺寸的商品卻便宜四成。在量販店Circuit City較年長店員推薦的理由是：「Polaroid的液晶電視畫質不輸Sharp和SONY，但價格便宜、品質又好。」年輕的店員則是推薦 Magnavox液晶電視。

A Place in the Sun

2005-09-18T17:41:00.000+08:00

By ERIC J. SAVITZ SUNSHINE IS FREE. That simple fact is what gives the solar-power business so much allure. You don't have to extract it from the ground, it's not subject to embargos, it's nonpolluting and if the supply ever ran out, we'd have a bigger problem than high gasoline prices. On the surface, at least, it certainly seems like an obvious way to address some of the economy's

Tasty Outlook

2005-09-18T17:37:00.000+08:00

Barron, By ANDREW BARY ASSET-RICH NESTLÉ IS STARTING TO ATTRACT greater U.S. investor interest, due to the strength of its global food business, an increasingly shareholder-oriented management and the huge combined value of its stakes in Alcon, the world's top eye-care company, and international cosmetics colossus L'Oréal. Nestlé's U.S.-listed shares (ticker: NSRGY) have risen 9%, to 72,

U.S. Focuses on a Macau Bank In Probe Into North Korea Ties

2005-09-18T17:20:00.000+08:00

By GLENN R. SIMPSON and GORDON FAIRCLOUGHStaff Reporters of THE WALL STREET JOURNALSeptember 16, 2005; Page A4 The U.S. government's accusation that a small bank in the Chinese enclave of Macau was laundering money for North Korea triggered a run by depositors and appeals for calm by the government there. The developments came after Secretary of State Condoleezza Rice linked such U.S.

It's Fourth and Long for Stocks

2005-09-18T17:18:00.000+08:00

WSJ, By CRAIG KARMINSeptember 18, 2005 The stock market is heading into the final stretch of 2005 in what could be the first down year for U.S. stocks since 2002. While there's plenty of cause for concern in the fourth quarter, there's starting to be some reason for hope, too. First the bad news. Economists are still scrambling to assess the economic damage wrought by Katrina. Bank of

Incremental Decision Making and Corporate Restructuring

2005-09-18T13:06:00.000+08:00

Barry Naughton Economic and business stories have dominated Western press attention to China in 2005, perhaps more so than in any previous year. Perceptions of a dynamic "rising China" have burst into American consciousness in an unprecedented fashion. Ironically, however, leadership decision making on economic policy in China seems to be sliding back toward a more bureaucratically dominated and

Not the New Deal

2005-09-16T16:43:00.000+08:00

September 16, 2005 By PAUL KRUGMAN Now it begins: America's biggest relief and recovery program since the New Deal. And the omens aren't good. It's a given that the Bush administration, which tried to turn Iraq into a laboratory for conservative economic policies, will try the same thing on the Gulf Coast. The Heritage Foundation, which has surely been helping Karl Rove develop the

China's Benchmark Measure Of Capital Expenditure Rises

2005-09-16T16:30:00.001+08:00

By AIPING CUIDOW JONES NEWSWIRESSeptember 16, 2005 BEIJING -- China's urban fixed-asset investment grew faster than expected in August, partly because of the low base a year earlier. But fixed-asset-investment growth continues to ease when compared with recent years, suggesting that authorities won't see a need to rein in economic growth by tightening monetary policy, economists said. The

Hong Kong Debates Volatility

2005-09-16T16:30:00.000+08:00

Critics Fret About PlansFor 'Bull-Bear' Contracts;'Domino Impact' on Stocks? By JON OGDEN and NISHA GOPALAN DOW JONES NEWSWIRESSeptember 16, 2005 HONG KONG -- Hong Kong's stock exchange regulator plans to introduce an equities derivative that its detractors believe could undermine the city's thriving warrants market, and bring unwanted volatility to leading blue-chip stocks. The move to

China's Uranium Search Attracts Interested Sellers

2005-09-15T22:20:00.000+08:00

By DENIS MCMAHON DOW JONES NEWSWIRESSeptember 15, 2005 SHANGHAI -- As China moves to line up uranium supplies to feed its planned nuclear-power expansion, it is facing little resistance, sparking interest from countries with deposits of the mineral. In the next 15 years, China plans to build as many as 40 nuclear plants to supplement the nine it has now. That is part of a plan to become

Wynn Resorts Raises Financing For Gambling Resort in Macau

2005-09-15T22:19:00.000+08:00

By KERI GEIGER DOW JONES NEWSWIRESSeptember 15, 2005 HONG KONG -- Wynn Resorts Ltd., controlled by U.S. casino operator Steve Wynn, has raised a US$744 million loan to finance the construction and expansion of its gambling resort in Asia's gambling capital of Macau. Wynn Resorts (Macau) SA, a unit of the U.S. parent, tapped a US$729 million equivalent term loan due 2011 and a HK$117

Rio Tinto Says Oil Prices to Affect China's Demand for Commodities

2005-09-15T22:18:00.000+08:00

By JAMES T. AREDDYStaff Reporter of THE WALL STREET JOURNALSeptember 15, 2005 4:59 a.m. SHANGHAI – China shows no sign of letup in its appetite for commodities such as iron ore, but high energy prices are among the threats to global growth that could yet impact demand, according to resources giant Rio Tinto PLC. Paul Skinner, chairman of the London-based company, said Thursday that his

China Construction Bank IPO Contends With Leery Investors

2005-09-14T22:56:00.000+08:00

By KATE LINEBAUGHStaff Reporter of THE WALL STREET JOURNALSeptember 14, 2005 HONG KONG -- The big guns have had their shot at investing in China's banking story. Now it's everyone else's turn. Next month brings the initial public offering of China Construction Bank, expected to be one of the biggest IPOs in the world this year. As the first stock offering in one of China's "Big Four"

Chinese Regulators Review Cap On Foreign Investment in Banks

2005-09-14T22:48:00.000+08:00

By KATHY CHEN and REBECCA BLUMENSTEINStaff Reporters of THE WALL STREET JOURNALSeptember 14, 2005 12:16 a.m. BEIJING -- Chinese regulators are considering raising the permitted level of foreign investment in Chinese banks, a move that would give foreign banks more of the control they seek as they plough billions of dollars into the sector. Han Mingzhi, director general of the China

Chinese Firms to Pay $1.42 Billion For EnCana Oil Assets in Ecuador

2005-09-14T22:47:00.000+08:00

By BEN DUMMETTDOW JONES NEWSWIRESSeptember 14, 2005; Page A3 A joint venture of Chinese petroleum companies agreed to buy EnCana Corp.'s oil and pipeline assets in Ecuador for $1.42 billion, as China continues to seek energy reserves world-wide. EnCana, a big Canadian oil-and-natural gas producer, said it agreed to sell the unit to a venture called Andes Petroleum Co. An executive with

Some Say 'Sell the Yen' Despite Koizumi's Win

2005-09-14T22:46:00.000+08:00

Contrarians Raise DoubtsAbout His Political Clout,Favor Singapore's Currency By RON HARUI DOW JONES NEWSWIRESSeptember 14, 2005 SINGAPORE -- The outlook for the yen may have turned more bullish in the aftermath of Prime Minister Junichiro Koizumi's landslide election victory, but some analysts say it is time to sell the Japanese currency against others like the Singapore dollar. Shorting

China to Avoid Jarring Markets With Yuan Moves

2005-09-12T17:02:00.000+08:00

Central Bank Will KeepTo Gradualist ApproachOn Currency Restructuring By J.R. WU and RICK CAREWDOW JONES NEWSWIRESSeptember 12, 2005; Page A14 BEIJING -- China's central-bank chief, Zhou Xiaochuan, said the country's foreign-exchange changes will progress steadily, with the central bank intervening less in the foreign-exchange market. The remarks come just days before Chinese President Hu

Online Phone Services Spur Backlash in China

2005-09-12T17:01:00.000+08:00

State Telecom Giant BlocksUsers From PC CallingOffered by Skype, Others By JASON DEANStaff Reporter of THE WALL STREET JOURNALSeptember 12, 2005 Skype Technologies SA and other Internet-telephony companies could face difficulties in one of their most promising markets, as a Chinese state-owned phone company appears to be moving to bar Chinese users from some of the companies' services. Skype

China's Producer Prices Climb On Rise in Raw-Materials Costs

2005-09-12T16:58:00.000+08:00

A WALL STREET JOURNAL NEWS ROUNDUPSeptember 12, 2005 BEIJING -- China's producer-price index unexpectedly rose 5.3% in August from a year earlier, the government said. The pace accelerated from the 5.2% rise recorded in July. The index is regarded as a leading indicator of inflation, because it reflects price increases that may eventually