https://www.scmp.com/rss/319846/feed Tumultuous panic selling in July 2015 wiped more than US$3 trillion off the value of mainland shares in just three weeks – the steepest sell-off in eight years which a raft of interventions from Beijing has so far failed to halt. Signs of a complete market seizure as hundreds of companies scramble to halt trading in their shares raised fears of spreading systemic regional financial risks. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Authorities on the mainland are targeting unscrupulous celebrities who profit from stock tips offered to small investors.   On Monday, Liao Yingqiang, 48, a stock market television talk show host, was fined 86.2 million yuan (US$13.5 million) – double his ill-gotten profits – by the China Securities Regulatory Commission after he was found to have unduly influenced the share prices of 39 listed companies. The penalty provides yet another snapshot of the country’s arcane stock market where... https://www.scmp.com/business/companies/article/2145267/chinese-talk-show-host-fined-us13m-leading-small-equity-investors?utm_source=rss_feed https://www.scmp.com/business/companies/article/2145267/chinese-talk-show-host-fined-us13m-leading-small-equity-investors?utm_source=rss_feed Wed, 09 May 2018 02:58:46 +0000 Global investors are gearing up to invest in China’s stock markets as their confidence grows following the accelerated deregulation of the country’s financial sector and inclusion of A shares in the MSCI’s emerging markets benchmark next month, according to investment bank JPMorgan. Filippo Gori, head of sales and marketing for markets and investors services for Asia-Pacific at JPMorgan, said global investors’ understanding of China has deepened after one of China’s top economic advisers Liu... https://www.scmp.com/business/money/markets-investing/article/2144194/global-investors-take-their-positions-ahead-chinas?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/2144194/global-investors-take-their-positions-ahead-chinas?utm_source=rss_feed Tue, 01 May 2018 12:01:26 +0000 Super rich investors in mainland China are skittish towards robo investment advisers taking control of their investments, reflecting a major shift from the US where the asset management tool has enjoyed growing popularity, according to global consultancy McKinsey. Only about 11 per cent of mainland securities investors with investible asset of more than 3 million yuan (US$477,000) endorse the technology to make investments, according the survey released on Tuesday. About 32 per cent of all... https://www.scmp.com/business/banking-finance/article/2140129/chinas-super-rich-are-wary-towards-ai-robo-advisers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2140129/chinas-super-rich-are-wary-towards-ai-robo-advisers?utm_source=rss_feed Tue, 03 Apr 2018 23:03:08 +0000 China’s securities regulator has slapped a record 5.5 billion yuan (US$870.6 million) fine on a company for manipulating stocks, the biggest single penalty in the country’s financial industry, in a move that underscores the government’s determination to impose discipline in the freewheeling capital market. Xiamen Beibadao Group, the country’s largest private owner of cargo railcars, was penalised for being complicit in manipulating the stock prices of Zhangjiagang Rural Commercial Bank, Jiangyin... https://www.scmp.com/business/china-business/article/2137167/regulator-wallops-chinese-railcar-owner-us870-million-fine?utm_source=rss_feed https://www.scmp.com/business/china-business/article/2137167/regulator-wallops-chinese-railcar-owner-us870-million-fine?utm_source=rss_feed Wed, 14 Mar 2018 08:00:30 +0000 China’s stocks are on a slow path to recovery from the mayhem that wiped off about US$5 trillion in market value in 2015, thanks to occasional state buying. While the Shanghai Composite Index has risen 27 per cent since the low in January last year, it has recouped less than a third of its loss from the 2015 peak. Should the momentum continue, the next target for the gauge would be at the 38.2 per cent Fibonacci retracement level of 3,614.74 points. The index closed 0.5 per cent lower at... https://www.scmp.com/business/markets/article/2120462/chart-day-china-stocks-slow-recovery?utm_source=rss_feed https://www.scmp.com/business/markets/article/2120462/chart-day-china-stocks-slow-recovery?utm_source=rss_feed Fri, 17 Nov 2017 15:41:47 +0000 A jump in China’s benchmark 10-year government bond yield risks taking the wind out of the 21-month rebound in equities. Speculation that regulators would curb liquidity in the financial market after the leadership reshuffle at last month’s party congress sent the yield on the treasuries to a three-year high of 3.908 per cent on Monday. The bond market usually reacts quickly to signs of changes in liquidity or monetary policies, and tighter liquidity weighs on the valuations of stocks. The last... https://www.scmp.com/business/markets/article/2118027/chart-day-soaring-bond-yields-cast-doubts-over-china-stock-rally?utm_source=rss_feed https://www.scmp.com/business/markets/article/2118027/chart-day-soaring-bond-yields-cast-doubts-over-china-stock-rally?utm_source=rss_feed Wed, 01 Nov 2017 16:05:11 +0000 China’s finance regulators have uncovered 80 billion yuan (US$11.7 billion) worth of trade volume related to a common form of misconduct known as “rat trading” since 2014, as the country has strengthened supervision of fund managers operating in its US$7 trillion stock market. The figure is equivalent to roughly 3 per cent of Hong Kong’s economic output last year. Rat trading in China essentially refers to a form of misconduct in which traders at a financial institution build a position with... https://www.scmp.com/business/banking-finance/article/2101914/rat-trading-volume-hits-80-billion-yuan-china?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2101914/rat-trading-volume-hits-80-billion-yuan-china?utm_source=rss_feed Mon, 10 Jul 2017 00:03:39 +0000 China’s securities regulator is rejecting initial public offering applications at the fastest pace in four years, suggesting it is getting tougher on the rules introduced to improve the quality of listed companies while speeding up the approval process at the same time. Analysts believe the China Securities Regulatory Commission is seeking a balance between easing the logjam in the IPO pipeline and boosting investor confidence. They also regard the moves as paving the way for an overhaul that... https://www.scmp.com/business/markets/article/2097969/chinas-regulator-rejecting-ipos-fastest-pace-four-years?utm_source=rss_feed https://www.scmp.com/business/markets/article/2097969/chinas-regulator-rejecting-ipos-fastest-pace-four-years?utm_source=rss_feed Tue, 13 Jun 2017 00:00:35 +0000 China’s regulator has penalised three of the country’s largest brokers, blaming them for their role in the 2015 stock market crash, in the first official account of a rout that wiped out US$5 trillion of market value in a few weeks since mid June that year. Leading mainland brokerages Citic Securities and Haitong Securities, together with smaller player Guosen Securities, were fined by the China Securities Regulatory Commission (CSRC) for breaking margin financing and securities lending rules in... https://www.scmp.com/business/banking-finance/article/2095644/chinas-securities-regulator-fines-top-brokerages-breach?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2095644/chinas-securities-regulator-fines-top-brokerages-breach?utm_source=rss_feed Thu, 25 May 2017 05:27:01 +0000 China’s small-cap stocks are now cheaper than they were in the 2015 market crash. Shenzhen’s ChiNext index of small firms dropped 1 per cent to an intraday low of 1,770.59 on Tuesday morning trading. The level was 8.6 points below the nadir seen on September 2, 2015 amid the mayhem that erased US$5 trillion in market value. Even after more than halving from its peak, ChiNext stocks are still far from being bargains now because of stretched valuations and slowing earnings growth, according to... https://www.scmp.com/business/china-business/article/2093609/chinas-chinext-stocks-are-cheap-not-enough-buy?utm_source=rss_feed https://www.scmp.com/business/china-business/article/2093609/chinas-chinext-stocks-are-cheap-not-enough-buy?utm_source=rss_feed Tue, 09 May 2017 09:19:29 +0000 “Crocodiles”, “traitors” and “scarecrows” are the new creatures lurking in China’s corridors of power, the financial one in particular . President Xi Jinping has reportedly lashed out against these three types during the Communist Party’s sixth plenary meeting last October. He didn’t elaborate, but any veteran observer of Chinese business or politics will know who they are. The “crocodiles”are the top families of China’s political elites, and their consigliere making the big bucks in the... https://www.scmp.com/business/banking-finance/article/2078801/crocs-traitors-and-scarecrows-abound-lieutenants-are-scarce?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2078801/crocs-traitors-and-scarecrows-abound-lieutenants-are-scarce?utm_source=rss_feed Wed, 15 Mar 2017 00:00:58 +0000 Some of the mainland’s government-based equity market funds – often referred to as the “national team” – which includes state-backed institutions such as the national pension fund – has become the envy of many retail markets around the world after managing to stem the flow of investment losses last year, after the disastrous summer of 2015. According to state-owned Securities Daily, Central Huijin Investment and China Securities Finance Corporation, for instance, raked in a combined paper profit... https://www.scmp.com/business/china-business/article/2075790/state-backed-institutions-outshine-stock-focused-mutual?utm_source=rss_feed https://www.scmp.com/business/china-business/article/2075790/state-backed-institutions-outshine-stock-focused-mutual?utm_source=rss_feed Fri, 03 Mar 2017 06:25:22 +0000 China’s courts have slapped a record fine and imposed a jail term on the country’s so-called hedge fund king after finding him guilty of insider trading and market manipulation, amid a state-directed campaign to crack down on financial malfeasance and bring “financial crocs” to justice. Xu Xiang (徐翔), whose Shanghai Zexi Investment fund had as much as 20 billion yuan of assets under management, was fined 11 billion yuan, according to a report on Sohu Finance, a news aggregator, citing... https://www.scmp.com/business/money/markets-investing/article/2070420/china-slaps-record-fine-jail-term-hedge-fund-trader?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/2070420/china-slaps-record-fine-jail-term-hedge-fund-trader?utm_source=rss_feed Mon, 13 Feb 2017 08:15:45 +0000 Xu Xiang, once considered China’s hedge fund guru, was sentenced to a five-and-a-half year prison term on Monday after a court in east China’s Qingdao City, Shandong Province, found him guilty of stock market manipulation. Xu was formally arrested in April 2016, on the charge of insider trading and market manipulation, Xinhua said. Xu was detained by police in late 2015, just after a stock market rescue scandal brought down senior regulators and executives in state-owned brokerage... https://www.scmp.com/business/money/article/2064582/once-chinas-hedge-fund-guru-xu-xiang-sentenced-55-years-prison-role?utm_source=rss_feed https://www.scmp.com/business/money/article/2064582/once-chinas-hedge-fund-guru-xu-xiang-sentenced-55-years-prison-role?utm_source=rss_feed Mon, 23 Jan 2017 04:52:53 +0000 A buying craze in newly listed stocks may eventually crimp efforts by China’s securities regulators to deregulate the IPO system, say analysts and industry watchers. Investing in initial public offerings (IPO) can sometimes bring investors a 22-fold return in just 30 trading days as frenzied buying pushes up the stock prices. Shares of Ningbo Haitian Precision Machinery soared to 34.29 yuan on December 21, up 2,186 per cent in 30 trading days after its debut on the Shanghai Stock Exchange on... https://www.scmp.com/business/markets/article/2063998/chinas-ipo-craze-hurdle-new-financial-market-reform?utm_source=rss_feed https://www.scmp.com/business/markets/article/2063998/chinas-ipo-craze-hurdle-new-financial-market-reform?utm_source=rss_feed Fri, 20 Jan 2017 10:58:39 +0000 Starting on Monday, a new circuit breaker will kick in on the Hong Kong Stock Exchange to smooth out volatility in the stock market. Traders are optimistic that the new measure, implemented after considerable consultations, will be able to avoid the mess that roiled mainland China’s equity markets in January. Hong Kong’s “volatility control mechanism” will halt trading in any stock once the price surges or slumps by 10 per cent within 5 minutes, giving traders a 5-minute period to cool off. Two... https://www.scmp.com/business/money/article/2006308/new-circuit-breaker-kick-monday-hong-kongs-bourse?utm_source=rss_feed https://www.scmp.com/business/money/article/2006308/new-circuit-breaker-kick-monday-hong-kongs-bourse?utm_source=rss_feed Fri, 19 Aug 2016 15:30:15 +0000 The China Securities Regulatory Commission (CSRC), China’s top securities regulator, on Tuesday warned mainland Chinese investors to stay away from new internet platforms and mobile apps geared towards overseas equity trading, citing operating risks in the unauthorised platforms. “A number of mainland internet companies emerged recently. They cooperate with overseas brokerage companies, providing channels and services for domestic investors to trade the overseas equity market...While [these... https://www.scmp.com/business/money/investment-products/article/1995137/chinas-securities-regulator-warns-against-use?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1995137/chinas-securities-regulator-warns-against-use?utm_source=rss_feed Tue, 26 Jul 2016 13:15:22 +0000 A vague policy statement from China’s securities regulator may have been a catalyst for a 2.9 per cent rally in mainland shares earlier this week. On Monday, the China Securities Regulatory Commission (CSRC) published a statement saying that senior officials had reached a consensus to align with policies of the current leadership to develop the mainland’s capital market following an analysis of President Xi Jinping’s speech made on July 1. The statement contained little substance while touting... https://www.scmp.com/business/article/1986699/president-xis-july-1st-speech-and-analysis-followed-helped-boost-china?utm_source=rss_feed https://www.scmp.com/business/article/1986699/president-xis-july-1st-speech-and-analysis-followed-helped-boost-china?utm_source=rss_feed Thu, 07 Jul 2016 09:13:01 +0000 The sharp decline in investment by private companies since early this year can be traced to insecurity about the regulatory outlook, as the negative impact from the stock rout last summer has yet to subside,，Li Jiange, China’s former top securities regulator in Hong Kong said Tuesday. Statistics show that investment from the private sector has declined to a historical low in recent months, undermining what’s been an important growth engine for China over the last few decades. “Investors are... https://www.scmp.com/business/money/markets-investing/article/1985581/chinas-former-top-securities-regulator-says?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1985581/chinas-former-top-securities-regulator-says?utm_source=rss_feed Tue, 05 Jul 2016 04:33:23 +0000 July 4, 2015, will not be remembered with any fondness by Chinese officials. It was supposed to be the day that a closed-door meeting rescued China’s stock market. But it proved a dramatic failure. At the zenith of Beijing’s campaign to end the rout, bosses of the country’s biggest brokerages had been summoned to the head office of the China Securities Regulatory Commission (CSRC) that morning to talk about dealing with a crash that had wiped off a third of the market’s value in three weeks. One... https://www.scmp.com/news/china/economy/article/1984908/few-lessons-learned-one-year-after-chinas-great-market-crash?utm_source=rss_feed https://www.scmp.com/news/china/economy/article/1984908/few-lessons-learned-one-year-after-chinas-great-market-crash?utm_source=rss_feed Mon, 04 Jul 2016 01:51:57 +0000 Yu Dalin, an IT engineer who earns about 500,000 yuan (HK$ 590,000) a year, said his stock portfolio shrank by 5 million yuan in China’s market rout over the past year and he is still wondering how things turned out so ugly. Emboldened by slogans such as “reform-driven bull market” and the grand themes of “One Belt, One Road”, a strategy to boost China’s trade ties with the rest of the world that was supposed to benefit some stock market listed companies, Yu invested his own savings, his wife’s,... https://www.scmp.com/news/china/economy/article/1978509/one-lesson-china-should-learn-its-stock-market-rout?utm_source=rss_feed https://www.scmp.com/news/china/economy/article/1978509/one-lesson-china-should-learn-its-stock-market-rout?utm_source=rss_feed Wed, 22 Jun 2016 02:30:30 +0000 Liu Shiyu, who took the reins at the China Securities Regulatory Commission (CSRC) in late February, is making the regulatory style tougher and tighter as he battles to restore investor confidence one year after the equity market suffered a major crash. Jiang Yang, deputy chairman of the CSRC, while speaking at the Lujiazui Forum in Shanghai on Sunday, reiterated the commission’s commitment, saying it would enforce mandatory delisting according to law and fend off speculation and market... https://www.scmp.com/business/markets/article/1973856/chinas-top-securities-regulator-set-continue-strict-oversight?utm_source=rss_feed https://www.scmp.com/business/markets/article/1973856/chinas-top-securities-regulator-set-continue-strict-oversight?utm_source=rss_feed Sun, 12 Jun 2016 15:22:18 +0000 What does a horde of punters taking investment cues from a television serial tell you about a stock market? Life imitated art in Shanghai when prime-time drama Ode to Joy caused frenzied investors to drive up the shares of Guizhou Redstar Developing, a producer of inorganic chemicals. The serial, based on the story of five young office workers’ lives in Shanghai, became the talk of the town as it addressed thorny social issues. But stock punters read deeper into the storyline, taking their cue... https://www.scmp.com/business/article/1947324/why-even-tv-serial-can-cause-stock-rally-china-and-what-it-means-global?utm_source=rss_feed https://www.scmp.com/business/article/1947324/why-even-tv-serial-can-cause-stock-rally-china-and-what-it-means-global?utm_source=rss_feed Thu, 19 May 2016 07:36:38 +0000 Chinese securities companies are to see reduced government intervention this year, as the extraordinary measures imposed by authorities in the wake of the dramatic market sell-off have been lifted. However, these brokerages face a new threat in the form of commission fee liberalisation, which will stoke competition and drive down fees, in addition to changes brought on by other policy changes, Standard & Poor’s senior analysts said on Thursday. China’s brokerages were prohibited from net selling... https://www.scmp.com/business/companies/article/1941578/china-brokerages-year-living-dangerously-falling-commission-fees?utm_source=rss_feed https://www.scmp.com/business/companies/article/1941578/china-brokerages-year-living-dangerously-falling-commission-fees?utm_source=rss_feed Thu, 05 May 2016 13:40:53 +0000 Futures contracts of iron ore and coke surged to their daily limits again on Friday, defying the Chinese authorities’ cooling measures in the commodities markets, which have begun to show signs of the uncontrolled frenzy that gripped the stock markets before they went belly up last summer. The most actively traded iron ore futures contract on the Dalian Commodities Exchange (DCE) finished up 5.96 per cent, hitting the daily ceiling, mirroring a similar movement in coke futures. Rebar futures on... https://www.scmp.com/business/markets/article/1940081/mystery-deepens-chinas-slowing-economy-and-gravity-defying?utm_source=rss_feed https://www.scmp.com/business/markets/article/1940081/mystery-deepens-chinas-slowing-economy-and-gravity-defying?utm_source=rss_feed Fri, 29 Apr 2016 12:09:18 +0000 Ping An Insurance(Group) reported a net profit growth of nearly 4 per cent for the first quarter of 2016, as headwind from the mainland capital markets continued to buffet mainland Chinese insurers. The company’s net profit stood at 20.70 billion yuan (HK$24.73 billion), up 3.7 per cent over the same period last year. New business value (NBV) of life insurance surged by 38.3 per cent to 13.08 billion yuan, according to its filing to the Hong Kong stock exchange on Tuesday evening, after the... https://www.scmp.com/business/companies/article/1938689/chinas-ping-insurance-posts-slim-profit-growth-investments-take?utm_source=rss_feed https://www.scmp.com/business/companies/article/1938689/chinas-ping-insurance-posts-slim-profit-growth-investments-take?utm_source=rss_feed Tue, 26 Apr 2016 13:31:35 +0000 China’s foreign exchange regulator, the State Administration of Foreign Exchange (SAFE), has become the latest member of the ‘national team’ tasked with propping up the stock market, raising questions about both its suitability for the job as well as the efficacy of a programme that has failed to animate the market despite splashing out billions of yuan. According to published company filings by Thursday, Buttonwood, or Wutongshu Investment Platform, a wholly owned company under SAFE, along with... https://www.scmp.com/business/markets/article/1933838/playing-safe-why-chinese-forex-regulator-buying-stocks-raising?utm_source=rss_feed https://www.scmp.com/business/markets/article/1933838/playing-safe-why-chinese-forex-regulator-buying-stocks-raising?utm_source=rss_feed Tue, 05 Apr 2016 12:25:50 +0000 A prominent economist and former central bank adviser has urged Beijing to “learn from Hong Kong” to rectify its financial markets to prevent them endangering people’s livelihoods and hurting prospects for a consumption based economy. Li Daokui, now a Tsinghua University professor, urged the government to reform the stock market with the same commitment it had shown fighting “tigers and flies” in its anticorruption campaign. He was speaking at yesterday’s meeting of the Chinese People’s... https://www.scmp.com/news/china/policies-politics/article/1922951/mainland-chinas-financial-markets-should-learn-hong?utm_source=rss_feed https://www.scmp.com/news/china/policies-politics/article/1922951/mainland-chinas-financial-markets-should-learn-hong?utm_source=rss_feed Thu, 10 Mar 2016 15:45:45 +0000 In an unprecedented move, Liu Shiyu, the new chairman of the China Securities Regulatory Commission (CSRC), on Tuesday attended the Hong Kong delegates’ discussion at the “Two Sessions”, the country’s top two annual political meetings. His attendance gains significance as it comes amid the continuing volatilities that have come to mark the Chinese stock markets of late. Liu did not make a clear statement on the long-awaited Shenzhen-Hong Kong stock connect scheme during the meeting, only saying... https://www.scmp.com/business/markets/article/1922384/china-securities-regulator-breaks-tradition-attend-hong-kong?utm_source=rss_feed https://www.scmp.com/business/markets/article/1922384/china-securities-regulator-breaks-tradition-attend-hong-kong?utm_source=rss_feed Tue, 08 Mar 2016 04:24:42 +0000 Chinese equity speculators have been hit by a double whammy in the recent reshuffle of the country’s securities regulator. As newly appointed China Securities Regulatory Commission (CSRC) chairman Liu Shiyu looks into ways to steer the stock market out of the woods, those hoping to take advantage of the wild price swings in small-cap stocks to strike it rich have reasons to feel disappointed. Liu, a former vice-governor of the central bank and the head of Agricultural Bank of China,... https://www.scmp.com/business/companies/article/1922310/why-small-investors-might-have-little-cheer-about-change-guard?utm_source=rss_feed https://www.scmp.com/business/companies/article/1922310/why-small-investors-might-have-little-cheer-about-change-guard?utm_source=rss_feed Tue, 08 Mar 2016 02:53:39 +0000 As the launch of the Shenzhen-Hong Kong stock connect scheme draws nigh, with Hong Kong brokers believing it will be launched in the second half of this year, there are concerns the second iteration of the cross-border trading scheme could result in more one-way traffic. Mainland investors and brokers have reacted nonchalantly to the eventual introduction of the scheme, which will allow Hong Kong and international investors to buy Shenzhen-listed A shares through Hong Kong brokers and let more... https://www.scmp.com/business/markets/article/1912868/mainland-chinese-investors-and-brokers-not-interested-shenzhen-hong?utm_source=rss_feed https://www.scmp.com/business/markets/article/1912868/mainland-chinese-investors-and-brokers-not-interested-shenzhen-hong?utm_source=rss_feed Sun, 14 Feb 2016 06:26:44 +0000 Despite a 30 per cent slump in the Shenzhen A-share Index in the first month of this year (a potential C corrective leg down), the gauge is now steadying against a cluster of chart levels and holding up marginally better than its Shanghai counterpart. This should continue for another few weeks, maybe until the end of March, with lots of backing and filling on either side of the 1,700-point level. Rallies are unlikely to break above the psychological 2,000-point level, while on the downside one... https://www.scmp.com/business/markets/article/1908749/chart-day-shenzhen-shares-steady?utm_source=rss_feed https://www.scmp.com/business/markets/article/1908749/chart-day-shenzhen-shares-steady?utm_source=rss_feed Tue, 02 Feb 2016 12:30:13 +0000 Plunging stocks and currency have made a grim start to the new year in China. The closely watched Shanghai Composite Index fell 3.6 per cent on Friday, down more than 20 per cent from its recent high, therefore entering bear market territory. Concerns over the Chinese economy and a free fall in oil prices have helped trigger a global stock market sell-off. The major US stock indexes fell more than 2 per cent after the Hang Seng Index ended the week with a 4.6 per cent loss. Currency speculators... https://www.scmp.com/news/china/policies-politics/article/1902186/why-china-will-not-sharply-devalue-yuan?utm_source=rss_feed https://www.scmp.com/news/china/policies-politics/article/1902186/why-china-will-not-sharply-devalue-yuan?utm_source=rss_feed Sun, 17 Jan 2016 11:45:45 +0000 The Shanghai and Shenzhen stock exchanges said they will closely monitor the selling activities by major shareholders and take action where appropriate, according to separate statements issued by the exchanges late Wednesday. The mainland’s two exchanges issued the statement as part of their ongoing monitoring of share sales by major stakeholders in listed companies, reflecting their first policy on the issue since the China Securities Regulatory Commission (CSRC) announced fresh restrictions on... https://www.scmp.com/business/article/1901020/china-stock-exchanges-strictly-monitor-stock-sales-major-shareholders?utm_source=rss_feed https://www.scmp.com/business/article/1901020/china-stock-exchanges-strictly-monitor-stock-sales-major-shareholders?utm_source=rss_feed Wed, 13 Jan 2016 15:50:49 +0000 “The China Securities Regulatory Commission should go to hell,” fumed Zhong Linshu. “I really believe the authorities launched this circuit breaker rule with the intention of keeping the market down,” the government official from Zhejiang province said, echoing the anger of Chinese investors left high and dry by yet another market closure on Thursday. The CSI300 index tracking large-cap stocks fell 5 per cent in just 13 minutes after the market opened in the morning, triggering the circuit... https://www.scmp.com/business/markets/article/1898623/stranded-chinese-investors-breathe-fire-stock-market-shuts-down?utm_source=rss_feed https://www.scmp.com/business/markets/article/1898623/stranded-chinese-investors-breathe-fire-stock-market-shuts-down?utm_source=rss_feed Thu, 07 Jan 2016 10:23:23 +0000 The mainland’s securities regulator is likely to make it harder for major shareholders to sell stocks on the secondary market, as the authority seeks to avoid another punishing sell-off following sharp declines on Monday that triggered a circuit-breaker trading suspension. SCMP, January 6 It’s time again for a tale of two cities although, in fact, I don’t have to tell the tale. The two charts below tell it all for you. Newspapers are in words business, however, and the boss won’t like it if I... https://www.scmp.com/business/markets/article/1898413/why-china-should-just-let-stock-market-crash?utm_source=rss_feed https://www.scmp.com/business/markets/article/1898413/why-china-should-just-let-stock-market-crash?utm_source=rss_feed Wed, 06 Jan 2016 10:27:02 +0000 It was a turbulent year on Hong Kong and China stock markets as slowing mainland growth and global trade combined with tumbling commodity prices to buffet equities, although some sectors such as technology emerged stronger. “The Chinese equity market had an intense year, to say the least,” said Gerry Alfonso, a director at Shenwan Hongyuan Group in Shanghai. “After all the ups and downs it seems that the market is now finally normalising, which is clearly a good development.” Technology stocks... https://www.scmp.com/business/companies/article/1896476/hong-kong-and-chinese-stock-markets-technology-stocks-lead?utm_source=rss_feed https://www.scmp.com/business/companies/article/1896476/hong-kong-and-chinese-stock-markets-technology-stocks-lead?utm_source=rss_feed Wed, 30 Dec 2015 03:45:15 +0000 China’s top economic planner, securities regulator and 20 other government bodies have joined forces to punish listed companies that break stock market rules. In addition to penalties imposed by the China Securities Regulatory Commission, listed companies and associated people, including company directors, controlling shareholders and senior executives, would face punishment from the other agencies, CSRC vice-chairman Jiang Yang said on Monday. “The joint effort is designed to improved the... https://www.scmp.com/news/china/economy/article/1895904/chinese-watchdogs-team-punish-wayward-listed-companies?utm_source=rss_feed https://www.scmp.com/news/china/economy/article/1895904/chinese-watchdogs-team-punish-wayward-listed-companies?utm_source=rss_feed Mon, 28 Dec 2015 15:30:45 +0000 Hong Kong stocks finished at a three-week peak amid positive news for energy portfolios on Wednesday, but Chinese shares were not so lucky, as opening gains were erased after a late fall. Meanwhile Guotai Junan International Holdings, one of China’s top three brokerages, saw its stocks jump following the company chairman’s reappearance after “assisting” mainland authorities in their enquiries for five weeks. The Hang Seng Index closed the day up 0.96 per cent, finishing at 22,040.59 points,... https://www.scmp.com/business/companies/article/1894012/hong-kong-stocks-finish-higher-oils-resurgence-china-shares-fall?utm_source=rss_feed https://www.scmp.com/business/companies/article/1894012/hong-kong-stocks-finish-higher-oils-resurgence-china-shares-fall?utm_source=rss_feed Wed, 23 Dec 2015 01:30:45 +0000 Stocks across Asia leapt on Thursday following the US Federal Reserve’s decision to raise interest rates, while mainland Chinese stocks soared to three-week highs. United States interest rates will rise by 25 basis points for the first time in nearly a decade, the Fed announced on Wednesday, signalling an end to America’s near-zero rate regime. The Hang Seng Index rose rapidly in the morning following the news, before slowly falling to finish up 0.79 per cent at a week high of 21,872.06. The... https://www.scmp.com/business/companies/article/1892292/hong-kong-mainland-china-shares-finish-higher-asia-responds-well?utm_source=rss_feed https://www.scmp.com/business/companies/article/1892292/hong-kong-mainland-china-shares-finish-higher-asia-responds-well?utm_source=rss_feed Thu, 17 Dec 2015 00:53:50 +0000 Global equity markets on Wednesday cheered the decision by the US Federal Reserve to raise interest rates for the first time in nearly a decade, while the slump in oil prices resumed after a brief respite in the prior session. The US central bank’s policy-setting committee raised the range of its benchmark interest rate by a quarter of a percentage point to between 0.25 per cent and 0.50 per cent, ending a lengthy debate about whether the economy was strong enough to withstand higher borrowing... https://www.scmp.com/business/companies/article/1892283/wall-street-rallies-fed-gives-markets-christmas-gift-upping-rates?utm_source=rss_feed https://www.scmp.com/business/companies/article/1892283/wall-street-rallies-fed-gives-markets-christmas-gift-upping-rates?utm_source=rss_feed Wed, 16 Dec 2015 22:48:44 +0000 Hong Kong shares boomed to a strong close ahead of Wednesday’s expected United States interest rate rise, as the market came off a record nine day losing streak in a shortcovering surge while Chinese stocks ended virtually flat. A jump in oil sector prices, boosted by a Chinese government announcement suspending fuel price adjustments, also buoyed local markets and caused oil producer shares to jump. The Hang Seng Index rose the most in almost two months in early trading and did not let go of... https://www.scmp.com/business/companies/article/1891732/hong-kong-stocks-jump-strong-finish-after-week-long-slump-and?utm_source=rss_feed https://www.scmp.com/business/companies/article/1891732/hong-kong-stocks-jump-strong-finish-after-week-long-slump-and?utm_source=rss_feed Wed, 16 Dec 2015 01:15:45 +0000 Standard & Poor’s Ratings Services downgraded CITIC Securities and its core subsidiary CITIC Securities International because a police investigation of senior executives and a regulatory probe into the firm’s compliance practices “has significantly undermined” the business of both firms. It is the first time S&P placed a “negative outlook” over CITIC and its overseas core unit CSI, after mainland Chinese authorities opened a probe into the company. “The unexpected senior management reshuffle and... https://www.scmp.com/business/companies/article/1891323/chinas-citic-securities-and-offshore-arm-downgraded-sp-negative?utm_source=rss_feed https://www.scmp.com/business/companies/article/1891323/chinas-citic-securities-and-offshore-arm-downgraded-sp-negative?utm_source=rss_feed Tue, 15 Dec 2015 05:48:21 +0000 Mainland stocks surged to a week-high on Monday on the back of positive news in the Chinese economy, but Hong Kong stocks couldn’t keep up, slumping slightly by the closing bell. It came as stocks linked to missing Fosun chairman Guo Guangchang finished the day with heavy losses, despite the news Guo had been returned earlier on Monday. The Shanghai Composite Index closed up 2.52 per cent, to finish at 3,521.12, while the CSI300 surged 2.86 per cent to end at 3,711.32. “Some macro figures were... https://www.scmp.com/business/companies/article/1890995/mainland-china-stocks-surge-week-high-economic-news-hong-kong?utm_source=rss_feed https://www.scmp.com/business/companies/article/1890995/mainland-china-stocks-surge-week-high-economic-news-hong-kong?utm_source=rss_feed Mon, 14 Dec 2015 01:36:14 +0000 Chinese police have caught Xue Rongnian, a renowned investment banker, for inside trading and market manipulation, the latest scandal exposed after the central government stepped up the crackdown on market irregularities that it blamed for a boom-to-bust cycle earlier this year. Xue, a former chief executive of Ping An Securities, was apprehended by police in Bengbu, Anhui province, on November 20 as he was alleged to have conducted inside trading involving Anhui Chaodong Cement and Anhui Conch... https://www.scmp.com/business/markets/article/1890145/china-crackdown-nets-ex-ping-securities-chief?utm_source=rss_feed https://www.scmp.com/business/markets/article/1890145/china-crackdown-nets-ex-ping-securities-chief?utm_source=rss_feed Fri, 11 Dec 2015 16:33:00 +0000 Hong Kong shares hit a two-month low Wednesday on weak turnover as investors continued to wait on the sidelines until next week’s US interest rate decision, while in China the markets drifted sideways eking out small gains for the day. Trading was thin in both markets with Chinese monthly consumer price inflation data coming in slightly higher than expected, at 1.5 per cent year on year growth for November. The producer price index fell lower than expected to 5.9 per cent over the same time... https://www.scmp.com/business/markets/article/1888841/china-hong-kong-markets-flatline-ahead-fed-decision-rates?utm_source=rss_feed https://www.scmp.com/business/markets/article/1888841/china-hong-kong-markets-flatline-ahead-fed-decision-rates?utm_source=rss_feed Wed, 09 Dec 2015 01:00:54 +0000 Hong Kong and mainland China markets fell their most in two weeks on Tuesday, dragged down by disappointing China trade figures and tracking weakness across regional bourses after crude oil tumbled to a nearly seven-year low amid concerns the major oil producing nations are unable to reach an agreement to curb a growing supply glut. The tumbling price of crude to around US$41 a barrel Tuesday afternoon sent oil sector stocks falling while airlines outperformed the wider market on expectations... https://www.scmp.com/business/companies/article/1888213/chinese-hong-kong-markets-slip-oil-amid-poor-trade-figures?utm_source=rss_feed https://www.scmp.com/business/companies/article/1888213/chinese-hong-kong-markets-slip-oil-amid-poor-trade-figures?utm_source=rss_feed Tue, 08 Dec 2015 01:00:15 +0000 Mainland China’s stock markets will install a circuit breaker from January 1 to prevent a repetition of the market rout which wiped out trillions of dollars from June this year. Analysts said it was better to have a market-based mechanism rather than arbitrary government intervention, although the move might affect market liquidity, together with a daily cap that allows only 10 per cent upward or downward movement for individual stocks, and a so-called T+1 rule that prevents investors from... https://www.scmp.com/business/companies/article/1886698/chinas-stock-markets-introduce-circuit-breaker-january-1-stem?utm_source=rss_feed https://www.scmp.com/business/companies/article/1886698/chinas-stock-markets-introduce-circuit-breaker-january-1-stem?utm_source=rss_feed Fri, 04 Dec 2015 03:15:00 +0000 Hong Kong stocks closed out the week on a downbeat note on Friday, after four straight sessions of gains, with investors’ appetite for risk diminished ahead of an important meeting of OPEC officials and the release of US jobs data for November later in the trading day. Hong Kong’s Hang Seng Index lost 0.81 per cent, or 181.12 points, to finish at 22,235.89. For the week, the Hang Seng gained 0.76 per cent. The Hang Seng China Enterprises Index, tracking mainland China-based companies, fell 1.54... https://www.scmp.com/business/companies/article/1886655/hong-kong-stocks-closer-lower-ahead-us-jobs-data-airline-shares?utm_source=rss_feed https://www.scmp.com/business/companies/article/1886655/hong-kong-stocks-closer-lower-ahead-us-jobs-data-airline-shares?utm_source=rss_feed Fri, 04 Dec 2015 01:00:30 +0000 Hong Kong stocks were lifted to a strong close on Tuesday after China’s yuan was included in an elite reserve basket by the IMF, and analysts expected Chinese equity markets will likely benefit from the breakthrough in the long run. The Hang Seng Index closed 1.94 per cent, or 427.17 points, higher at 22,423.59. The H-share Index, tracking mainland based companies, also rose 2.36 per cent, or 231.50 points to 10,022.14. The mainland Chinese markets though traded nearly flat, as the yuan’s... https://www.scmp.com/business/companies/article/1885389/hong-kong-shares-claw-way-firm-close-after-imf-verdict-yuan?utm_source=rss_feed https://www.scmp.com/business/companies/article/1885389/hong-kong-shares-claw-way-firm-close-after-imf-verdict-yuan?utm_source=rss_feed Tue, 01 Dec 2015 01:30:15 +0000