China’s six-largest publicly traded banks will report declining profits in 2009 as the nation’s policy to revive growth through lower interest rates will shrink margins and loan defaults may increase, HSBC Holdings Plc said.
HSBC cut earnings forecast for Bank of Communications Ltd. by 33 percent next year, according to a research note dated yesterday. Profit [...]
China Merchants Bank Co., the biggest bank in southern China, plans to open representative offices in London and Taipei as it speeds up expansion overseas to catch up with bigger rivals.
The Shenzhen-based bank will start preparation work this year, China Merchants said in a statement to the Shanghai stock exchange today. It also agreed to [...]
The globally known investor and professor of finance Jim Rogers has opened an account with China Minsheng Banking Corp Ltd (CMBC), according to the Chinese bank’s announcement.
He was invited by CMBC to analyze the Chinese capital market scenario. During his visit he addressed more than 500 VIP clients of CMBC on the theme of global [...]
Shanghai Gold Exchange (SGE) posted gold trading volume of 239.97 tons in May, a sharply 166.84% increase year-on-year, according to SGE’s monthly business report released this week. Aggregate trade value rose 225.07% to RMB 48.087 billion.
Tags: bank, BOC, CMBC, gold, ICBC
Shanghai’s key stock index fell in the morning session today after the central bank said it will toughen measures against inflation to lessen the effect of higher fuel prices.
The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, lost 1.57 percent, or 44.37 points, to 2,787.36 at 11:30am.
Tags: aluminum, Baoshan, Baosteel, central-bank, [...]
HONG Kong stocks fell for a third day, driving the benchmark index to its worst weekly performance in seven weeks, on speculation record oil prices will erode earnings and stoke inflation.
Cathay Pacific Airways Ltd, Hong Kong’s biggest airline, dropped to its lowest in two weeks and China Petroleum & Chemical Corp, the nation’s largest refiner, [...]
