22 February 2018
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

  • » 08/17/2009, 00.00


    Heavy losses for the Chinese stock exchanges, including decline in foreign investment

    Shanghai -5.8%, -2.6% Hong Kong. The Shanghai Stock Exchange confirms last week’s losses. Experts: The financial world doubts declared recovery in China.

    Hong Kong (AsiaNews / Agencies) - The descent of the stock market in Shanghai continued today, with losses of 5.8%, its largest in two months. The Hang Seng index in Hong Kong also suffered losses, closing with -2.64%.

    Shanghai had already lost 6.6% last week, due to sharp drops in the energy and metals sector, after an increases in prices of petroleum and coal.

    Experts point out that the market does not share the confidence of many countries , including China, regarding the proclaimed beginning of an economy recovery.  is not confident of the economic

    The analyst Zhou Lin commented to the South China Morning Post that "the market volatility continues today and will continue in the short term, due to the uncertainty surrounding the recovery of the Chinese economy and government policy toward the stock market." Investors are also cautious after the heavy losses in stock markets a few months ago. Beijing had already announced to have overcome the worst of the crisis with a growth rate around 8% but the figure has been criticized by experts because it does not provide sufficient information for a serious review.

    The losses are also considered the result of a knock-on effect from losses on Wall Street last week and pessimistic U.S. data, which is struggling to show signs of a recovery.

    Meanwhile, Foreign Direct Investments (FDI) in China continued to decline in the first 7 months of 2009 falling by over 20.3% over the same period in 2008. According to data reported today by Yao Jian, of the Ministry of Commerce, the deterioration was greater in July, with investment of 5.36 billion dollars and a loss of 35.7% compared to July 2008, while in June, the decrease was smaller (-6.8%). In 2008, investment had reached a record level of 92.4 billion dollars.

    Experts note that the decline may also be a result of the dispute between the Chinese authorities and the mining company Rio Tinto. China has arrested four employees of the firm on charges of industrial espionage, and the company replied that so far it has not been shown any evidence. Many feel that the story is part of battle between Chinese state companies and Rio Tinto to determine the new prices of iron ore, essential for production and the economy of China.

    e-mail this to a friend Printable version

    See also

    25/08/2015 CHINA
    Chinese stock markets: fourth day in the red for Shanghai; Hong Kong recovers slightly
    The Shanghai Composite closed at noon down 4.3%; Hong Kong gains 1.6%. Bank of China expected to inject more liquidity into market in coming hours. Yesterday’s black day of trading saw Asia’s richest man loose $ 3.6 billion.

    07/05/2010 ASIA
    Asian stock markets down after concerns over Greece and Wall Street
    Tokyo drops almost 4%, Hong Kong opens down to 2%; Shanghai less than 2.4%. Fears that the EU can not contain the crisis in Athens, and that it will spread to Spain and Portugal. Maybe a technical error behind 9% drop on the New York Stock Exchange. But panic is widespread.

    31/07/2013 CHINA
    Chinese stock market biggest loser with 748 billion dollar slump
    The losses almost equal those of 1929 Grade crisis. Politburo reaffirms the need for some economic reforms, including a prudent monetary and fiscal policy and the strengthening of domestic consumption. For some analysts, there is optimism, but for others, the Chinese stock market is a "dead animal".

    24/10/2008 NEPAL
    Nepal fears global financial crisis, looks to China
    So far, the tiny country has remained immune from the upheavals in the global economy. The Maoist government has not yet taken any measures to avoid repercussions on life in the country. But the fear is that the collapse of main donor countries will also drag Kathmandu into the crisis. The government counts on being supported by China.

    15/10/2009 CHINA
    Foreign investments in China rise 18.9 per cent in September
    Investments reach US$ 7.9 billion as global economic growth shows clear signs of recovery. Europe’s largest bank moves from London to Hong Kong.

    Editor's choices

    Snehonir, the 'house of tenderness' for the disabled (photos)

    Founded 25 years ago by Shanti Rani Sisters and PIME missionaries in Rajshahi, the facility is open to the mentally and physically disabled, deaf, blind, orphans, poor, and abandoned. The guiding principle is to start them in life.

    Defeated on ice, but 'first' in history, joint Korean hockey team players hug

    After losing to Sweden in their last match, the Korean team ends up in seventh place. Players burst into tears at their imminent separation. "Politicians made that executive decision [to have a joint team]. Our players and staff are the ones that made it work,” said the team’s proud Canadian coach. One South Korean athlete hopes the country is proud of them. "It was bigger than hockey."


    AsiaNews monthly magazine (in Italian) is free.


    News feed

    Canale RSSRSS channel 


    IRAN 2016 Banner

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