The market also weighed reports that the Institute for Supply Management's October nonmanufacturing index fell to 50.6 from 50.9 in September; and that ADP's report on private employment showed payrolls falling 203,000 in October, a bit more than the 196,000 expected. To some, data elevated the downside risk for Friday's U.S. employment report for October.

On Wednesday at 12:21 p.m. ET, the 30-stock Dow Jones industrial average was higher by 105.88 points, or 1.08%, at 9,877.79. The broad Standard & Poor's 500-stock index was up 9.49 points, or 0.91%, at 1,054.90. The tech-heavy Nasdaq composite index gained 12.55 points, or 0.61%, to 2,069.87.

On the New York Stock Exchange, 21 stocks were higher in price for every seven tha...]]> Finance Wed, 04 Nov 2009 18:50:27 +0800 /articles/09/1102/195965/MTk1OTY1fouStU92.html U.S. stock index futures were higher in premarket trading Monday, signaling a higher open for Wall Street after a sell-off in the previous session.

Trading activity may be marked by portfolio positioning for November and the end of the year, says S&P MarketScope.

A surprise profit from Ford Motor Co. (F) helped support the early gains in futures. Ford said deep cost cuts and the government's Cash for Clunkers rebates helped it earn nearly $1 billion in the third quarter. Shares rose nearly 6% in premarket trading.

Investors were awaiting reports on the Institute for Supply Management's October manufacturing index, which was expected by economists to rise to 54.5 from 52.6 in September; pending home sales for September, which are expected to rise 0.4% after surging 6.4% in August; Sept. and construction spending for September, which is seen falling 0.2% after rising 0.8% in August.

Treasuries were lower Monday morning amid fears the Federal Reser...]]> Finance Mon, 02 Nov 2009 15:37:48 +0800 /articles/09/0918/191387/MTkxMzg3AfhAILLc.html

The rise of the dollar from US86.70c to US87.69c yesterday, the highest point since August last year, occurred as the Australian sharemarket marched further forward, driven by continuing positive sentiment towards equities.

The increasing strength of the economic recovery prompted Wall Street to rally earlier yesterday, a performance replicated across the Asia-Pacific regional markets.

The benchmark S&P/ASX 200 index rose 64.5 points (or 1.39 per cent) to 4714.9 points yesterday, while the broader All Ordinaries index gained 61.2 points (1.31 per cent) to 4714.

In Hong Kong, shares on the Hang Seng index increased 1.8 per cent, while the Nikkei in Tokyo added to its recent gains to be up 1.68 per cent.

The result takes the J...]]> Finance Thu, 17 Sep 2009 17:14:45 +0800 /articles/09/0909/190492/MTkwNDkyPsKZutF4.html

The benchmark Shanghai Composite Index rose 0.54 percent, or 15.78 points to finish at 2,946.26.

The Shenzhen Component Index rose 1.04 percent, or 123.89 points, to end at 12,047.22.

Asian markets rebounded modestly on Tuesday, with China's key index edging up after tumbling the previous day, as investors weighed prospects for a global economic recovery.

The drop in Shanghai's volatile market Monday triggered a wave of selling in markets around the world, adding to concerns stocks have rocketed too high, too fast since March. But Tuesday the mood was steadier in Asia, helped by data showing that China's manufacturing growth accelerated in August to its fastest rate this year.

"Panic selling has stopped, at least for today," said Francis Lun, general manager of Fulbright Securities Ltd. in Hong Kong. "Investors are trying to regain direction after yesterday's sell-off."

The Shanghai Composite Index was up 15.98 points, or 0.6 percent, at 2,683.72, following a 6.7 percent plunge Monday that took it to its lowest level in three months.

Hong Kong's Hang Seng climbed 138 points, or 0.7 percent, to 19,862.19, while Tokyo's Nikke...]]> Finance Tue, 01 Sep 2009 09:22:55 +0800 /articles/09/0831/189591/MTg5NTkx1gpDY3Y6.html U.S. stocks were skidding Monday morning amid weakness in equity markets worldwide, paced by a 6.7% plunge in the Shanghai composite index. A better than expected report on the Chicago Fed's manufacturing index appeared to have little impact.

Trading was active as investors adjusted their portfolios for September, says S&P MarketScope. There is much debate in the market over the strength of the equity rally that began in March, says S&P.

On Monday at 10:06 a.m. ET, the 30-stock Dow Jones industrial average was lower by 91.75 points, or 0.96%, at 9,452.45. The broad Standard & Poor's 500-stock index was down 12.33 points, or 1.20%, at 1,016.60. The tech-heavy Nasdaq composite index lost 27.91 points, or 1.38%, at 2,000.86.

Treasuries were mixed. The dollar index was higher, while gold and crude oil futures were lower.

The rout in Shanghai was triggered by renewed worries banks will cut back on the lavish lending that spurred frenzied gains until ...]]> Finance Mon, 31 Aug 2009 15:18:12 +0800 /articles/09/0831/189590/MTg5NTkwQrHZBh0M.html

A big drop in Asian markets sent U.S. stocks falling as investors worried once again about the global economy.

Major U.S. indexes lost more than 1 percent Monday after China's main index plunged 6.7 percent, adding to a nearly 3 percent drop on Friday. The selloff in Chinese shares has been fed by concerns over a tightening in bank lending that could hurt the country's economy. That in turn has weighed on markets around the globe this month.

Japan's Nikkei stock average fell 0.4 percent after the country's opposition party came to power in a landslide victory. European markets were also lower.

There was little U.S. economic news expected Monday, but key readings come later this week on manufacturing and employment in August that have the ability to either sustain or upset the market's massive six-month rally.

After rising more than 45 percent from 12-year lows in March, the Dow Jones industrial average stands less than 500 points away from 10,...]]> Finance Mon, 31 Aug 2009 14:59:34 +0800 /articles/09/0831/189584/MTg5NTg0slUzkOrK.html Asian markets sank Monday as Chinese stocks plunged nearly 7 percent and Japanese shares weakened after the country's opposition party came to power in a landslide victory. European stocks were mixed in early trade.

In Shanghai, the main index plummeted 6.7 percent to 2,697.70, adding to a nearly 3 percent decline on Friday. Hong Kong's Hang Seng lost 1.9 percent. Tokyo's Nikkei 225 stock average lost 41.61 points, or 0.4 percent, to 10,492.53 after jumping over 200 points earlier in the day.

Renewed selling in mainland Chinese shares reflected the growing unease among investors about government measures to restrict the lavish bank lending that's helped send markets surging this year. Analysts also pointed to concerns about a flood of new shares as lockup periods expire and more initial public offerings come to market. The combination would mean less money to chase more stock.

Lan Xue, managing director and head of China research for Cit...]]> Finance Mon, 31 Aug 2009 13:40:26 +0800 /articles/09/0831/189553/MTg5NTUzptuwYidf.html

Asian markets headed lower Monday, with Chinese shares tumbling over 5 percent and Japanese stocks edging down after the country's opposition party came to power in a landslide victory.

Shanghai's market was hit with another bout of heavy selling, reflecting unease about government measures that could slow the liquidity that's sent the market surging this year. Analysts also pointed to lingering worries about a flood of new shares in the market.

"China's market is still searching for support," said Winson Fong, managing director at SG Asset Management in Hong Kong, which oversees about $2 billion in equities in Asia. "The market has gone up so much already, it makes sense for the momentum to slow for a time."

In Japan, investors tread cautiously after the Democratic Party of Japan swept to power in national elections over the weekend amid frustrations with the ruling party as the world's second-economy emerges from its worst downturn in decades.

Meanwhile, Federal Reserve Chairman Ben Bernanke speaking at the Kansas City Fed's Jackson Hole, Wyo., conference, said he was upbeat on the economy's near-term growth prospects. Bernanke defend the Fed's actions over the past year in his Jackson Hole speech.

An extended rebound for the Shanghai composite index -- despite indications that China will tighten bank capital requirements -- also boosted stock-market sentiment Friday.

On Friday at 10:21 a.m. ET, the 30-stock Dow Jones industrial average was higher by 142.83 points, or 1.53%, at 9,492.88. The broad Standard & Poor's 500-stock index was up 17.03 points, or 1.69%, to 1,024.40. The tech-heavy Nasdaq composi...]]> Finance Fri, 21 Aug 2009 14:43:00 +0800 /articles/09/0821/188546/MTg4NTQ2S05tbHlm.html Most Asian stock markets sank Friday as mixed economic data from the world's largest economy reinforced fears that investors have overestimated the recovery's strength.

Knocked by weak exporters, Japan's Nikkei 225 stock average fell 145.21 points, or 1.4 percent, to 10,238.20. Hong Kong's Hang Seng was down 179.11, or 0.9 percent, to 20,148.56 while China's Shanghai Composite index rose for a second day - gaining 1.7 percent to 2,960.77 - after rattling investors worldwide when it tumbled earlier this week.

"Many of the global markets have gone up more than 50 percent within the last five months, but investors have begun to realize that economic growth isn't as good as they thought," said Peter Lai, investment manager at DBS Vickers in Hong Kong. "So many of the smart funds have been taking profits recently."

Wall Street posted modest gains Thursday as news of an improvement in regional manufacturing and an uptick in a guage of leading ec...]]> Finance Fri, 21 Aug 2009 08:24:49 +0800 /articles/09/0820/188334/MTg4MzM0nXWV6qxD.html

The blue-chip Dow Jones Industrial Average fell 64.99 points (0.71 per cent) to 9152.95 in opening trades while the tech-heavy Nasdaq composite shed 17.18 points (0.88 per cent) to 1938.74.

The broad-market Standard & Poor's 500 index dipped 6.99 points (0.71 per cent) to 982.68.

"Stocks are under pressure in morning action, as a broad-based decline in Asia - with China's Shanghai Composite threatening bear-market territory - is stymieing sentiment on Wall Street,'' analysts at Charles Schwab & Co said in a client note.

The heavy selling of Chinese shares in Shanghai was sparked by concern that the market was overheating and had steamed too far ahead of the country's economic reality.

"China is back in the driver's seat this morning, as Wall Street bears are taking their cues from another plunge in Asian markets,'' said Joseph...]]> Finance Wed, 19 Aug 2009 17:29:49 +0800 /articles/09/0819/188308/MTg4MzA4maLhyNQZ.html U.S. stocks were slightly lower Wednesday morning. Global equity markets were sliding as Shanghai stocks skidded into bear market territory on worries China's economic growth will slow.

Corporate news offered some support to the market, reports Action Economics, with farm equipment maker Deere & Co. (DE) beating expectations even as it reported a 24% drop in third-quarter sales. And Hewlett-Packard (HPQ) also beat estimates, despite a 19% drop in third-quarter earnings; the company raised its forecast for fourth-quarter earnings.

On Wednesday at 10:06 a.m. ET, the 30-stock Dow Jones industrial average was down 11.49 points, or 0.12%, to 9,206.45. The broad Standard & Poor's 500-stock index fell 0.77 points, or 0.08%, to 988.90. The tech-heavy Nasdaq composite index shed 1.74 points, or 0.09%, to 1,954.18.

Treasuries were higher Wednesday morning as stocks fell. The dollar index was flat as billionaire investor Warren Buffett and asset manager PIMCO expr...]]> Finance Wed, 19 Aug 2009 14:42:15 +0800 /articles/09/0817/188050/MTg4MDUws62QF5UK.html

The benchmark Shanghai Composite Index was down 5.79 percent, or 176.34 points, to close at 2,870.63. The Shenzhen Component Index dropped 6.65 percent, or 830.95 points, to finish at 11,668.8.

Combined turnover on the two bourses shrank to 214.47 billion yuan (31.40 billion U.S. dollars) from previous trading day's 227.67 billion yuan.

Resources-related stocks led Monday's decline. The index for the coal companies slumped 5.97 percent as most of the coal stocks was down by more than 9 percent. The index for the nonferrous metal sector dropped 5.93 percent and the steel industry slid 4.76percent.

Pessimistic economic forecasts brought down the resources stocks just as strong confidence in economic growth had boosted this sector in previous days, said analysts.

The benchmark Shanghai Composite Index went up 0.89 percent, or 27.84 points, to finish at 3,140.56. The Shenzhen Component Index added 1.68 percent, or 211.24 points, to close at 12,802.91.

Combined turnover shrank to 206.76 billion yuan (30.27 billion U.S. dollars) from 245.25 billion yuan on the previous trading day.

"When we say 'dynamic fine-tuning', we do not mean the monetary policy but the monetary policy operations. We will sharpen the focus and intensify the pace of the policies," Su said.

The benchmark Shanghai Composite Index closed down 2.9 percent on Friday, slipping for a third day, after a PBOC announcement on Wednesday said it would "actively fine-tune policies" as the economy improves, raising fears that it could check liquidity.

July's major growth figures will be released early next week, and investors are waiting to see more signs of a solid recovery.

The country's banks have lent nearly 7.4 trillion yuan (1.08 trillion U.S. dollars) in the first half of the year - far higher than the initial full-year target of 5 trillion yuan.

On the back of the unprec...]]> Finance Sun, 09 Aug 2009 09:29:04 +0800 /articles/09/0803/186529/MTg2NTI5UhIycoZf.html

The benchmark Shanghai Composite Index rose 1.48 percent, or 50.53 points, to finish at 3,462.59. It set its highest close since the gauge ended at 3,473.09 on May 23, 2008.

At 12:00 (AEST), the local currency was trading at $US0.8189/94, up from yesterday's close of $US0.8188/91, the first local close below $US0.8200 since last Friday.

During the domestic session, the unit moved between $US0.8193 and $US0.8141.

"It's been a fairly topsey-turvey last 48 hours for the Aussie," said Charles Wiggins, a corporate risk manager at Custom House global foreign exchange.

"It's primarily what's happening in the US, which has an impact on the Aussie exchange movements.

"Over the last few days, we've seen good corporate earnings figures, and then one bad one puts fear in the minds of traders world-wide."

Australian building approvals rose 9.3 per cent to 11,086 units in June, seasonally adjusted, from an upwardly revi...]]> Finance Thu, 30 Jul 2009 03:54:22 +0800 /articles/09/0730/186004/MTg2MDA0gri616qL.html U.S. stock indexes were in negative territory Wednesday morning, though above earlier lows.

Investors adopted a defensive posture after a steep 5% correction on Chinese shares overnight on news that lenders could be required to hold more reserves. This in turn raised questions about Chinese and global growth, weighing on the commodity sector and knocking crude oil lower.

A 2.5% drop in U.S. durable goods orders in June also weighed on sentiment.

On Wednesday at 11:06 a.m. ET, the 30-stock Dow Jones industrial average was lower by 36.73 points, or 0.40%, at 9,059.99. The broad Standard & Poor's 500-stock index was down 5.65 points, or 0.58%, to 973.97. The tech-heavy Nasdaq composite index shed 10.69 points, or 0.54%, to 1,964.82.

On the New York Stock Exchange, 17 stocks were lower in price for every 11 that advanced. Nasdaq breadth was 15-8 negative.

Some traders remain worried about missing the stock-market rally that started in Marc...]]> Finance Wed, 29 Jul 2009 18:24:47 +0800 /articles/09/0630/182177/MTgyMTc3YtuEja8i.html Bank deposits in China amounted to ¥1,052 billion during the first 5 months of 2009 after a monthly addition of ¥13.5 billion in May, the China Banking Regulatory Commission said Monday. The slighter increase in May compared to ¥69 billion in February, ¥112 billion in March and ¥39 billion in April respectively was believed to be due to a rebounding stock market. The Shanghai Composite Index gained almost 6.3% in May.

$1 = ¥6.8

Source: http://paper.cnstock.com/html/2009-06/30/content_71046490.htm

The China PostSaturday, June 20, 2009

Taipei, Taiwan --- Want Want CEO Tsai Yen-ming offered an olive branch to angry journalism instructors yesterday, admitting he would consider apologizing in public to end their row over freedom of the press.

Tsai, whose rice cracker snack empire includes the China Times media group, visited two professors to explain his case against the National Communications Commission (NCC) that has triggered a war between the business tycoon and the academics.

The Want Want chief executive officer told Peng Wen-cheng, dean of the Taiwan University Graduate School of Journalism, the NCC shouldn't have approved the new management of his China Times, China Television CTV and Chung Tie with six conditions attached.

One condition which Tsai resents is the restriction of Chinese sha...]]> Finance Wed, 24 Jun 2009 15:56:30 +0800 /articles/09/0407/180589/MTgwNTg5Bq1ikbjz.html Wall Street pulled back Monday as investors took profits following a four-week rally, fearful of poor earnings reports starting this week and more trouble for banks.

Investors were also disappointed that talks for IBM Corp.'s $7 billion deal to buy Sun Microsystems Inc. have stalled - a sign that the market is still not ready to support big mergers.

Financial shares plunged after a prominent analyst predicted more losses at banks and said the government's efforts to prop up the ailing industry might not be as effective as hoped.

Michael Mayo issued "sell" ratings on several banks and said in his report that loan losses could exceed levels seen in the Great Depression.

The market was already on edge about first-quarter earnings season, which kicks off Tuesday with aluminum producer and Dow component Alcoa Inc. Worse-than-expected reports could easily upset the market's recent advance, which brought stocks up more than 20 percent in ...]]> Finance Mon, 06 Apr 2009 17:30:24 +0800 /articles/09/0403/180213/MTgwMjEzFjAMI8Ki.html

The Australian share market recorded one its strongest days of the year yesterday when the benchmark S&P/ASX200 rose 100.5 points to 3680.2, a 2.81 per cent increase.

The broader index, the All Ordinaries, was up 95 points to 3622.2, and the positive performance was replicated across the Asian region.

The Hong Kong share market set the bullish tone as the Hang Seng index rallied by 7.5 per cent, while in Tokyo the Nikkei index was up by 4.4 per cent, taking it to a three-month high.

The renewed global sentiment was sparked by the Wall Street session in New York on Wednesday night, when the Dow Jones jumped 2 per cent on positive economic news, including US home sales statistics.

The S&P 500 Index last month rallied the most in seven years.

The number of pending hom...]]> Finance Thu, 02 Apr 2009 21:50:41 +0800 /articles/09/0403/180211/MTgwMjExoZTLTrGV.html Investors dove into stocks Thursday, extending a rally that gave the Dow Jones industrial average its best four weeks since 1933.

Stocks rose across the board in heavy trading following an accounting rule change that will help banks and commitments from world leaders to toughen up regulatory oversight of financial institutions.

The Dow Jones industrials broke through 8,000 for the first time since Feb. 9 but ended slightly below that level ahead of a closely-watched monthly report on employment Friday morning that could easily upset the market if it comes in below expectations.

The Dow is now up 20.4 percent over the last month, its biggest percentage gain in a four-week period since the spring of 1933. Bits of good news about the economy in recent weeks, including better-than expected-numbers on the housing and manufacturing sectors, have given investors more reasons to buy.

According to preliminary calculations, the Dow rose 216....]]> Finance Thu, 02 Apr 2009 21:33:55 +0800 /articles/09/0325/179118/MTc5MTE45hdNAEiQ.html

Stocks surged worldwide after the White House formally unveiled its plan to clean banks' balance sheets, with an emphasis on luring private investors to buy up to $US1 trillion ($1.4 trillion) in toxic assets choking the flow of credit.

Under the legacy asset plan, purchases of banks' soured loans and real estate-related securities will be encouraged to limit the capital damage on the banks' balance sheets.

The two-part scheme will use up to $US100 billion of bank rescue funds from the Treasury, as well as financial guarantees from the Federal Reserve and Federal Deposit Insurance Corp.

Funds will be set up to buy and manage mortgage securities and the Government will also provide financing to private investors to buy the loans.

The news...]]> Finance Tue, 24 Mar 2009 16:56:40 +0800 /articles/09/0312/177852/MTc3ODUyUYzArPuW.html Finance Thu, 12 Mar 2009 09:06:57 +0800 /articles/09/0311/177699/MTc3Njk5a3mPd4Fk.html Finance Wed, 11 Mar 2009 08:12:51 +0800 /articles/09/0311/177595/MTc3NTk13PBlwhxA.html Wall Street got some good news from Citigroup, and responded with a huge rally. Led by financial stocks, the market made its first big move upward in weeks Tuesday after Citigroup Inc. said it had operated at a profit during the first two months of the year. All the major indexes soared more than 4.5 percent, and the Dow Jones industrials shot up more than 300 points.

Still, while word of Citi's performance at least temporarily broke a months-long torrent of bad news from the banking industry, analysts weren't ready to say the stock market was at a turning point and about to barrel higher.

In a letter sent to employees Monday, Citi Chief Executive Vikram Pandit said the first-quarter performance so far has been the bank's best since the third quarter of 2007 - the last time it recorded net income for a full period. Based on historical revenue and expense rates, Citi's projected earnings before taxes and one-time charges would be about $8.3 billi...]]> Finance Tue, 10 Mar 2009 16:59:45 +0800 Finance Fri, 06 Mar 2009 03:08:30 +0800 /articles/09/0305/176881/MTc2ODgxu42jUg9y.html

At 7am AEDT, the dollar was trading at $US0.6522/25, up from Wednesday's close of $US0.6326/32.

It was the strongest start to the local session since February 16, when the unit opened at $US0.6524/32.

During offshore trading, the unit moved between a low of $US0.6329 and a high of $US0.6523.

Brown Brothers Harriman and Co global head of foreign exchange strategy, Marc Chandler, said the dollar had benefitted from a massive six per cent rise on the Shanghai Composite index yesterday.

Mr Chandler said anticipation that China would announce further fiscal stimulus caused a global rally on equity markets and supported dollar buying.

"The main theme was a recovery in China," Mr Chandler said from New York.

"People think that Australia moves in China's orbit so that's a positive for Aus...]]> Finance Wed, 04 Mar 2009 21:46:40 +0800 /articles/09/0304/176826/MTc2ODI2uusDNZXC.html Finance Wed, 04 Mar 2009 09:15:53 +0800 /articles/09/0303/176705/MTc2NzA1DLBqwVyO.html World stock markets fell further Tuesday as investors continued to fret about the global financial sector after American International Group Inc. reported the biggest quarterly loss in corporate history, and HSBC Holdings PLC slashed its dividend and revealed it needed to raise nearly $18 billion from shareholders.

The FTSE 100 index of leading British shares fell below the 3,600 mark for the first time since the start of the Iraq war in 2003. By mid-morning London time, it was down 44.17 points, or 1.2 percent, at 3,581.66.

Germany's DAX fell 25.06 points, or 0.7 percent, at 3,685.01 while the CAC-40 in France was down 8.31 points, or 0.3 percent, at 2,573.15.

Earlier, Japan's Nikkei flirted with 26-year lows, ending 50.43 points, or 0.7 percent, at 7,229.72, while Hong Kong's Hang Seng index close 283.58 points, or 2.3 percent, lower 12,033.88.

"There's an absence of any hooks to hang any good news, if there were any good news," s...]]> Finance Tue, 03 Mar 2009 12:46:58 +0800 /articles/09/0303/176675/MTc2Njc1qZxjlJGW.html
]]> Finance Tue, 03 Mar 2009 08:39:04 +0800 /articles/09/0302/176585/MTc2NTg1iK5ixbBZ.html Oil prices fell Monday along with global stock markets as hopes for a quick end to the global slump evaporated amid dismal U.S. economic news and the prospect of another bailout for ailing insurer American International Group Inc.

By midday in Europe, benchmark crude for April delivery was down $2.12 to $42.64 a barrel on the New York Mercantile Exchange. The contract fell 46 cents on Friday to settle at $44.76.

In London, the price for Brent crude fell $1.79 to $44.56 a barrel on the ICE Futures exchange in London.

In another sign that the U.S. financial crisis continues to sap the government's coffers, AIG will receive up to $30 billion in additional federal assistance. The company previously received about $150 billion in loans from the government, which holds an 80 percent stake.

The Commerce Department said Friday that gross domestic product contracted 6.2 percent in the fourth quarter, the worst showing in a quarter-century.

"The four...]]> Finance Mon, 02 Mar 2009 13:00:04 +0800 /articles/09/0302/176531/MTc2NTMxWJtQh90X.html Finance Mon, 02 Mar 2009 05:22:01 +0800 /articles/09/0226/176086/MTc2MDg2dOvoZiNV.html Finance Thu, 26 Feb 2009 08:55:12 +0800 /articles/09/0226/176064/MTc2MDY0TCTaV0Hh.html
]]> Finance Thu, 26 Feb 2009 05:35:31 +0800 /articles/09/0224/175835/MTc1ODM1lcokhKDt.html World stock markets fell Tuesday as hopes of a speedy fix for the U.S. banking sector dissipated and pushed Wall Street to 12-year lows. Renewed fears about the capital position of some of the world's leading financial firms also weighed on sentiment.

Markets initially breathed a sigh of relief on weekend reports that the Obama administration was looking to only take a stake in Citigroup Inc. instead of fully nationalizing it, but remain rattled about the lack of details.

"As always the devil is in the detail and at the moment the market is rattled by the perception that there is not enough detail as to what these plans will actually mean and how long they will take, with each actual, or rumored policy announcement providing more questions than answers," said Stuart Bennett, an analyst at Calyon Credit Agricole.

The FTSE 100 index of leading British shares was down 41.70 points, or 1.1 percent, at 3,809.03, while Germany's DAX slid 99.10 p...]]> Finance Tue, 24 Feb 2009 12:48:05 +0800 /articles/09/0223/175696/MTc1Njk2vqkKkT1h.html Citigroup Inc. is reportedly negotiating with government officials to have the U.S. boost its stake in the troubled bank to as much as 40 percent, The Wall Street Journal said late Sunday, citing people familiar with the situation.

Such a move by Citigroup would result in the New York-based bank ceding far more control to the feds than executives likely desire, and would dilute shareholders' investments. The Journal, which said Citigroup made the proposal to its regulators, noted that sources say executives would prefer to keep the government's stake closer to 25 percent.

But with the company's shares trading at their lowest point in nearly two decades, Citigroup is seeking ways to stem further losses.

On Friday, shares of Citigroup fell 22 percent to close below $2, and Bank of America Corp. shares also sank, as talk of the banks' nationalization spooked investors. Both banks already have received significant help from taxpayers as th...]]> Finance Mon, 23 Feb 2009 13:47:29 +0800 /articles/09/0220/175248/MTc1MjQ4slGpN2WK.html Finance Fri, 20 Feb 2009 09:03:39 +0800 /articles/09/0219/175097/MTc1MDk3OKYOqF1X.html Finance Thu, 19 Feb 2009 06:49:39 +0800 /articles/09/0218/174976/MTc0OTc2nmwGJm4k.html
China's stock market tumbled for a second straight day on Wednesday, and turnover shrank, because of fears that a surge in January bank lending could prove negative for the economy rather than signaling a recovery.]]> Finance Wed, 18 Feb 2009 09:11:15 +0800 /articles/09/0217/174825/MTc0ODI1tGZKwkvr.html Finance Tue, 17 Feb 2009 09:30:17 +0800 /articles/09/0217/174780/MTc0NzgwYHJsDPBL.html Finance Tue, 17 Feb 2009 05:28:24 +0800 /articles/09/0217/174779/MTc0Nzc5VF7hQoDA.html Finance Tue, 17 Feb 2009 05:15:35 +0800 /articles/09/0217/174741/MTc0NzQxpUNYcjXG.html Finance Mon, 16 Feb 2009 18:49:21 +0800 /articles/09/0216/174681/MTc0NjgxDxC0hIpw.html
]]> Finance Mon, 16 Feb 2009 09:27:44 +0800 /articles/09/0216/174661/MTc0NjYxfh2fVEF0.html Finance Mon, 16 Feb 2009 05:51:53 +0800 /articles/09/0213/174375/MTc0Mzc1qAO1zOzV.html

The Shanghai Composite Index advanced 3.23 percent, or 72.7 points, to close at 2,320.79 points.

It ended the second trading week after the national Lunar New Year holiday with an impressive rise in the benchmark index from 2,011.68 points on Feb. 2.

The smaller Shenzhen Component Index gained 3.73 percent, or 309.95 points to close at 8,628.75.

Combined turnover expanded to 252.63 billion yuan (36.97 billion U.S. dollars) from 221.1 billion yuan on the previous day.