18 November 2017
AsiaNews.it Twitter AsiaNews.it Facebook
Geographic areas




  • > Africa
  • > Central Asia
  • > Europe
  • > Middle East
  • > Nord America
  • > North Asia
  • > South Asia
  • > South East Asia
  • > South West Asia
  • > Sud America
  • > East Asia
  •    - China
  •    - Hong Kong
  •    - Japan
  •    - Macau
  •    - North Korea
  •    - South Korea
  •    - Taiwan


  • » 08/25/2009, 00.00

    CHINA

    Fears for China's economy: the stock market drops 2.6%



    By mid-afternoon, the Shanghai market was down 5.5%, partially recovering before closing. Premier Wen Jiabao ensures that the easy credit will continue, but the economy is far from healed. Just the loans raised fears of speculative bubbles.

    Hong Kong (AsiaNews / Agencies) - After days of recovery from the last crash, the stock market in China closed in the negative. Shanghai has closed at minus 2.6%, after declining in mid-afternoon to minus 5.5%. That of Shenzhen has closed at minus 2.3%.

    Analysts attribute the results to the ambiguous comments Wen Jiabao made yesterday in which he promised easy credit to support the economy, but at the same time he warned against "blind optimism”.

    During a trip to Zhejiang province, Wen said the Chinese economy shows positive signs, but the situation remains fragile. "There are - he said - many unstable and uncertain factors and the economic situation is still very serious, although the global and national economy are changing in a positive way."

    To address the crisis, Beijing has launched an aid package of up to 4 trillion yuan (about 410 billion Euros) to support domestic consumption and put money into circulation through massive investments in infrastructure and public works.

    But experts point out that the huge amount of loans distributed to date is likely to have created a bubble and discuss the possible impact on banks and the economy.

    The flow of liquidity due to the aid package has boosted the value of Shanghai stock market to almost double, from January to August 4, 2009, after it had decreased in 2008 by 65%. But in the first two weeks of August Shanghai fell by 19.8%. In recent days, it had recovered more than 5%, only to drop into the red once again today.

     
    e-mail this to a friend Printable version










    See also

    05/12/2016 09:37:00 CHINA-HONG KONG
    Hong Kong - Shenzhen stock connect launched

    A new step towards integrating China and world markets. But this morning’s results have not met expectations. The Shenzhen technology companies are coveted by global investors. But the Chinese - with the yuan that has lost 10% in value in two years – are  looking towards foreign investments.

     



    07/12/2006 CHINA - HONG KONG - USA
    Yuan becomes stronger, worries Hong Kong
    China’s currency has appreciated by more than 5.3% against the US dollar since July 2005 and it is poised to become more profitable than Hong Kong’s currency. There are concerns about the city’s economy and about an increase in local inflation.

    05/11/2007 CHINA
    PetroChina, the world’s most highly valued company by market capitalisation
    Share values almost triple in its market debut, but they are too closely related to oil prices and government fuel pricing policy.

    01/10/2004 china
    China participates in G7 meeting


    27/07/2015 CHINA
    China shares fall more than 8% on growth concerns
    The Shanghai Composite closed down 8.5% at 3,725.56 after more weak economic data raised concerns about the health of world's second largest economy.



    Editor's choices

    HONG KONG - CHINA - VATICAN
    Mass for a deceased underground priest. Card. Zen asks for God ‘s grace to save the Church in China and the Holy See from the 'precipice'

    Li Yuan

    Fr. Wei Heping, 41, died in mysterious circumstances, his body dumped in a river in Taiyuan (Shanxi). For the police claim he committed suicide. Family members are not allowed to even see the autopsy report. For Card. Zen the Holy See (which "is not necessarily the Pope") seeks a compromise at all costs with the Chinese government, risking "to sell out the faithful Church". Justice and Peace publish a booklet about Fr. Wei, not to forget.


    VATICAN - ITALY
    Pope: No more war, its only fruit is death, 'our self-destruction'



    Marking the Feast of All Souls, Francis celebrated Mass at the American Cemetery in Nettuno. "When so many times in history men think of a war, they are convinced of bringing a new world, they are convinced of making a 'spring'. It ends in a winter, ugly, cruel, with the reign of terror and death."


    AsiaNews IS ALSO A MONTHLY!

    AsiaNews monthly magazine (in Italian) is free.
     

    SUBSCRIBE NOW

    News feed

    Canale RSScanale RSS 

    Add to Google









     

    IRAN 2016 Banner

    2003 © All rights reserved - AsiaNews C.F. e P.Iva: 00889190153 - GLACOM®