Stay away from those off-market distractions, guys
We are told that with the slower stock market business, there is a concern on the part of some brokerages that traders with time on their hands may allow themselves to become 'distracted'. One of the main distractions this week has been the Shanghai electronic games show - ChinaJoy. The problem, as is often the case in life, centres on the presence of attractive young women who are frequently employed to 'add value' to particular products. Some of these then appear on social network sites. ChinaJoy apparently has a weibo site that attracts tens of thousands of viewers. Male traders have been known to browse these sites. A number of brokerages have felt obliged to warn their traders to keep their mind on the job.
Lies, damned lies, and statistics
We are told that mainland statistics are improving. Gross domestic product growth was 8.1 per cent for the first quarter and 7.6 per cent for the second, indicating the economy is slowing. Meanwhile, 27 provinces have reported their half-year GDP growth numbers. Interestingly 19 provinces are reporting double-digit growth, while eight are in the single digits. People have long been aware of this feature of mainland statistics, but with the economy supposedly slowing, the figures for national and provincial growth appear to be going in opposite directions.
Sparkling wine, fruit of the mine
Readers may recall our recent piece on Hong Kong-listed gold miner G-Resources celebrating the pouring of the first gold and silver at its Martabe mine in North Sumatra, Indonesia. Executive vice-chairman Owen Hegarty tells us 'there were a few drinks' to celebrate the occasion at the company's Wan Chai headquarters, but not at the mine head since the Muslim fasting month of Ramadan has just started. G has further marked the occasion by ordering about 50 cases of red wine that bear the label, 'Celebrating Martabe's First Gold and Silver Production'. The company hasn't stinted on the wine. It's a 2010 Two Left Feet from Mollydooker Wines in South Australia. Wine guru Robert Parker gives it 90 points, which means: 'An outstanding wine of exceptional complexity and character. In short, these are terrific wines.' Let's hope the gold is just as good.