One year after the mainland's leaders picked Wenzhou to start a pilot programme designed to curb and regulate the city's informal shadow-lending networks, it's clear the plan isn't working. Small firms it intended to benefit still can't access loans because they lack collateral and are struggling to stay afloat.Thursday, 28 March, 2013, 6:31am
Hong Kong's small brokers abide by the adage that the squeaky wheel gets the oil. They like to protest and their past efforts have shown that to be a successful strategy.15 Nov 2011 - 12:00am
Hong Kong broker Sun Hung Kai Financial made a costly mistake yesterday, buying millions of China Life Insurance shares as a result of what it said was an error in its computer system.
Traders said the broker placed a buy order worth more than HK$37 billion for 2 billion shares for China Life at HK$18.82 about half an hour before the close of the stock market.9 Sep 2011 - 12:00am
Beijing will soon vet applications for Sino-foreign brokerages, reopening a floodgate for global investment banks such as Credit Suisse and JP Morgan to tap the booming market after a two-year suspension.
The China Securities Regulatory Commission said in a statement yesterday that it would publish rules governing joint-venture brokerages 'in the coming days'.13 Dec 2007 - 12:00am
Police have arrested a broker and the firm he worked for has been stopped from trading amid allegations about HK$20 million that has been stolen from 28 clients.
The 61-year-old man, identified only as Yip, was detained yesterday after trading irregularities were noticed in the surging stock market, a source close to the investigation said.1 Sep 2007 - 12:00am
About a year ago policy risks prompted Morgan Stanley to downgrade its recommendation on Weichai Power, a manufacturer of heavy-duty engines in China, to 'equal weight V', meaning the stock's return was expected to be only in line with the China MSCI index return over the next 12 to 18 months.28 May 2006 - 12:00am
Tullet Prebon blazes trail after forming money broking venture with Sitico
The world's leading interdealer brokers, which serve as middlemen in the currency and fixed-income markets, are expanding into the mainland in the hopes of tapping into what many think will become a significant new market.24 May 2006 - 12:00am
About a year ago Merrill Lynch upgraded its recommendation on Denway Motors, the Chinese venture partner of Japan's Honda Motor, from 'neutral' to 'buy', believing the sales outlook for the Chinese car market would improve during the year.30 Apr 2006 - 12:00am
About a year ago Merrill Lynch upgraded its recommendation on Angang New Steel, one of the mainland's biggest steelmakers, to 'buy' based on plans to acquire the parent company's steelmaking assets and surprisingly strong profits in 2004.23 Apr 2006 - 12:00am
China's top supermarket operator seems set for lowers earnings growth because of increased pressure on margins and easing top-line growth, says Nomura, which reiterates its 'reduce' recommendation. Its fair-value estimate on Lianhua Supermarket of $8.30 compares with a Friday close of $8.90.23 Apr 2006 - 12:00am
About a year ago stronger-than-expected traffic growth for Beijing Capital Airport (BCIA) in the second half of 2004 led Deutsche Bank to increase its earnings forecast for 2004 and 2005 but, after a company visit, it had mixed feelings about prospects and maintained its 'hold' rating.26 Mar 2006 - 12:00am
Nomura believes the earnings growth of China Mobile (Hong Kong) in 2006 could beat expectations if the company's subscriber additions for February become a trend. China Mobile announced this month that subscriber additions last month reached 4.2 million, a monthly record, to push its total subscriber numbers to 254.9 million.26 Mar 2006 - 12:00am
About a year ago Merrill Lynch initiated coverage of Gome Electrical Appliance, China's largest consumer electronics retailer, with a 'buy' recommendation and a 12-month price objective of $8.73.
The broker believed Gome had strong growth prospects and was one of the most profitable retailers in China with a return on invested capital of 59 per cent.19 Mar 2006 - 12:00am
Nomura has raised its fair-value estimate and earnings forecasts for Kingway Brewery to reflect its competitive advantage in Guangdong and capacity expansion in other parts of China.
Robust demand in Guangdong and aggressive capacity expansion in Guangdong and Tianjin lifted this year's forecast for sales volume growth to 32 per cent year on year from 30 per cent.26 Feb 2006 - 12:00am
About a year ago China International Capital Corp (CICC) maintained its 'hold' recommendation on Huaneng International Power after China's biggest independent power producer said its generation volume in 2004 increased 26 per cent over 2003. It generated 114.3 billion KWh in 2004.26 Feb 2006 - 12:00am