“China as expected is leading the world in tightening loose money policies launched to cope with the global recession. If the effect on China-related stocks is a portent, other stock markets around the world should brace themselves.
Chinese bank lending tightening and fears of more to come drove Hong Kong's blue-chip Hang Seng Index down for the third week in a row. The Hang Seng dropped 604 points, 2.9%, to 20,122, briefly dipping below the critical psychological level of 20,000. The Hang Seng, which includes numerous big Chinese companies, has mostly gone straight down in the last three weeks, losing 2,175 points. The index of Chinese companies lost 478 points this week, 4.0%, to 11,498…”
To continue reading this post and to read more of Gene Linn’s China’s Weekly Roundup, click here.
About Gene Linn:
After studying Chinese language in the Army, Gene Linn earned Bachelor’s Degree in journalism and a Master’s in East Asian Studies, focusing on Chinese language and politics. He worked for 14 years as a freelance business reporter in Hong Kong. One of his jobs was to write daily Hong Kong stock market reports for UPI for four years. He started writing a column on China-related stocks for EQUITIES Magazine in 2004.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
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