Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

Europe's problems sink markets globally

E-mail Print PDF

decline_8 October 4, 2011 (Chinavestor) Fears that Europe won't be able to contain Greece's debt problems sent markets lower in globally. The Shanghai Composite Index (SHA:000001) escaped the fall only because the exchange is closed for the week in observance of a National Holiday. But the Hang Seng Index (INDEHANGSENG:HSI) tumbled 571.88 points or 3.5% on top of a 770.3 points or 4.6% dive a day before. Airliners continued to fall hard after Tony Tyler, chief executive officer of the International Air Transport Association and a former CEO of Cathay Pacific (HKG:0293), said that global economic slowdown is hurting profitability of the industry more than initially thought. Overcapacity and subdued ticket prices are a matter of concern, according to Tyler. China Southern Airlines (HKG:1055), the largest Chinese carrier by fleet size, fell 8.4%, the second most after Zijin Mining (HKG:2899), China's largest gold miner. CNOOC Ltd. (HKG:0883). China's offshore oil producer, slid 6.7% as price of crude fell. Chinese telecoms and upstream oil companies helped mitigate the fall of the Hang Seng Index (INDEXHANGSENG:.HSI). China Mobile (HKG:0941) and China Telecom (HKG:0728) fell a mere 1.7% and 0.4%, respectively. Sinopec (HKG:386), China's largest refiner, slid 1.4%.

Falling oil prices bode well for refiners and integrated oil companies for their refining margins improve. Sinopec (HKG:0386), has outperformed the broad market in September and is expected to do so as long as price of the crude softens. Falling oil prices may no offset losses from slumping demand for airliners, investors think after remarks from Mr. Tyler and fears that American Airlines (NYSE:AMR) may go bankrupt sent chills through the spine of investors. China Southern Airlines (HKG:1055) and China Eastern Airlines (HKG:0670) fell over 22% in just a matter f three days.

Pure oil producer, CNOOC Ltd. (HKG:0338), fell the hardest among major Chinese oil companies on Tuesday.  Sinopec (HKG:0386) fell 1.4% followed by Petrochina Co. Ltd. (HKG:0857) and CNOOC Ltd. (HKG:0338).

pre_20111042

China stock fell in-line with the broad Hang Seng Index (INDEXHANGSENG:.HSI) on Tuesday. The Hang Seng China Enterprises Index (INDEXHANGSENG:.HSCE) fell 305.68 points or 3.6%.



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!

Free weekly newsletter

Get hot China stock news every Monday