Tag Archives: China

Miners Shed Thousands of Jobs as Commodities Prices Slide

Posted on by

“The world’s biggest miners are hemorrhaging jobs as the price for almost everything they dig up–from gold to aluminum to copper–slides relentlessly downward.  Staff cuts are among the measures miners are taking to lower their costs amid a historic downturn in commodity prices driven by China’s abrupt economic slowdown. Anglo and other big miners such as Rio Tinto PLC have also moved to restructure organizations that had grown quickly when China was gobbling up commodities. The moves come as oil companies and their service contractors shed tens of thousands of jobs and are moving to reshape their operations for what could be a long period of lowered commodity prices.”

http://www.nasdaq.com/article/miners-shed-thousands-of-jobs-as-commodities-prices-slide-20150724-00296

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Meet China’s Stock Savior, Who Never Saw the Crash Coming

Posted on by

“After China’s stocks crashed in June, the government put more than $400 billion at the disposal of a little-known state agency, the China Securities Finance Corp., headed by an academic and bureaucrat named Nie Qingping. Four weeks into the new role, the picture emerging from Nie’s published books and commentaries, as well as interviews with fellow academics, is of a professor with 25 years of experience watching stock manias — who still got blindsided by China’s latest crisis.  Since China Securities Finance started buying on July 6, a measure of volatility in stocks has surged to nearly a 20-year high. On July 27, the Shanghai Composite Index plunged 8.5 percent, the most since February 2007.”

http://www.bloomberg.com/news/articles/2015-08-02/meet-china-s-stock-rescue-chief-he-never-saw-the-crisis-coming

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

China stock exchanges step up crackdown on short-selling

Posted on by

“The Shanghai and Shenzhen exchanges said in separate statements on Monday night that new rules, effective immediately, banned traders from borrowing and repaying stocks on the same day – a step that raises risks for short-sellers. Many fund managers say the campaign against shorting has decayed into a general crackdown on risk management strategies, which could backfire.  China’s state margin-lending agency has injected 200 billion yuan ($32.21 billion) since July into five newly launched mutual funds. The China Securities Finance Corp is also managing a 120 billion yuan bailout fund formed by 21 brokerages, and last month provided 260 billion yuan in credit lines to brokerages.”

http://www.reuters.com/article/2015/08/04/us-china-markets-shorting-idUSKCN0Q909E20150804

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Chinese regulator vows share support after markets tumble 8.5% in a day

Posted on by

“China said on Monday it was prepared to buy shares to stabilize the stock market and avert ‘systemic risks’, after major indices plunged more than 8 percent in the biggest one-day fall since 2007.  The securities regulator also said market authorities would deal severely with anyone engaged in the ‘malicious shorting of stocks’, in Beijing’s latest attempt to stave off a full-blown market crash.  Monday’s slump, amid growing doubts about the strength of the world’s second biggest economy, shattered three weeks of relative calm as a barrage of support measures helped stabilize values following a sharp sell-off that started in mid-June.”

 

http://www.reuters.com/article/2015/07/27/us-markets-china-stocks-idUSKCN0Q10KE20150727

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

China Has Biggest One-Day Stock Crash Since 2007

Posted on by

“China’s stocks tumbled amid concern a three-week rally sparked by unprecedented government intervention is unsustainable.  Monday’s retreat shattered the sense of calm that had fallen over mainland markets last week and raised questions over the viability of government efforts to prop up share prices as the economy slows.  The Shanghai gauge had rebounded 16 percent from its July 8 low through Friday as officials went to extreme lengths to halt a rout that erased $4 trillion from the nation’s equities. Officials allowed more than 1,400 companies to halt trading, banned major shareholders from selling stakes and armed a state-run financing vehicle with more than $480 billion to support the market.”

http://www.bloomberg.com/news/articles/2015-07-27/chinese-stock-index-futures-drop-before-industrial-profits

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

5 Chinese Ghost Cities That Came Alive

Posted on by

“When a Chinese ‘ghost city’ does fill up with people and businesses it inconspicuously falls off the radar of the dominant international media. It becomes a regular city, mashed into China’s broader urban matrix — a success story that few seem interested in hearing about. We are amused by empty streets, vacant shopping malls, and barren financial districts in China, not budding new cities steadily coming to life. Ex-ghost cities are rarely news.  Though many places in China that have previously been heralded as ghost cities have by now been developed and populated. Below are five new cities in China that have advanced through the ghost city phase and have come to life.”

https://www.bullionstar.com/blogs/koos-jansen/guest-post-5-chinese-ghost-cities-came-alive/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

China’s replica of Manhattan sits empty as the debt time bomb ticks

Posted on by

“If it comes off, Tianjin’s Manhattan project will become the latest illustration of China’s build-it-and-they-will-come approach to development. Pudong -the futuristic financial center that sprang up on Shanghai’s east bank in the 1990s – also had its doubters. Occupancy rates in its central Lujiazui area are 97 per cent and rents among the world’s priciest.  Tianjin’s government this month sold 13.2 billion yuan ($2.74 billion) in bonds at zero premium to central government debt, joining other provinces in taking advantage of a debt swap program designed by Beijing to keep infrastructure projects afloat. The funding fix sustains a cycle China can’t afford to break.”

http://news.domain.com.au/domain/real-estate-news/chinas-replica-of-manhattan-sits-empty-as-the-debt-time-bomb-ticks-20150624-ghw4xh.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

China dumped a huge amount of gold on the market and investors are spooked

Posted on by

“Gold had a ‘mini flash-crash’ in Asian trade on Monday, with the price falling almost 4% in a matter of seconds.  A huge dump of bullion, equivalent to one-fifth of a whole day’s trade in a normal session, came on the market in China this morning in a two-minute window.  ANZ Bank analyst Victor Thianpiriya said that the ‘nature, size and timing of the heavy selling’ suggests someone ‘was taking advantage of low liquidity or some sort of forced selling had taken place.’  If it is ‘forced selling’ then we could be in for plenty more trouble. Forced selling generally means leveraged investors who have used borrowed money to buy gold are being forced to sell to pay back the borrowed cash.”

http://www.businessinsider.com/gold-price-flash-crash-caused-by-five-tonnes-of-chinese-bullion-2015-7

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

China Introduces $483 Billion Stock Support Program

Posted on by

“China has made 2.5 trillion yuan to 3 trillion yuan ($483 billion) of funding available for government agency China Securities Finance Corp. to support the stock market, people familiar with the matter said.  The funding is to offer liquidity support to brokers and to purchase stocks and mutual funds.  Chinese stocks rose the most in a week as the government gains ground in efforts to stabilize a stock market that plummeted in the past month after a debt-fueled boom.  The money was available from the central bank’s relending facility; credit lines with commercial banks; borrowing by CSF in the interbank market; and bonds and short-term notes sold by CSF, the people said.”

http://www.bloomberg.com/news/articles/2015-07-17/china-securities-finance-said-to-have-up-to-483-billion-on-tap

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

China’s Tsinghua prepares $23 billion bid for U.S. chip maker Micron

Posted on by

“China’s state-backed Tsinghua Unigroup Ltd is preparing a $23 billion bid for U.S. memory chip maker Micron Technology Inc (MU.O), in what would be the biggest Chinese takeover of a U.S. company, people familiar with the matter said.  A successful bid would consolidate Tsinghua Unigroup’s position as a champion for China’s technology development, after it struck deals and research partnerships with international firms in the semiconductor industry.  The company is controlled by Tsinghua University in Beijing, which counts President Xi Jinping among its alumni, and is backed by China’s central government.”

http://www.reuters.com/article/2015/07/14/us-micron-tech-m-a-tsinghuaunigroup-idUSKCN0PO02B20150714

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet