Capitalist Roader Fund:
The Shanghai Composite Index (SCI) was battered at the end of the week by global uncertainty surrounding the Greek sovereign debt crisis and an unprecedented decline (and subsequent semi-recovery) of the Dow. The Chinese stock index fell 6.3% between Monday and Friday, while Huaneng Power (600011.SH) fell 3.2%, [...]
Capitalist Roader Fund:
Since the Capitalist Roader’s last update, the Shanghai Composite Index (SCI) has been nothing if not exciting. In the end, however, all the volatility of the last few weeks left the SCI at its close yesterday down just a bit more than 1.2% from our last update, and [...]
Capitalist Roader Fund:
There’s little good news on any front for the Capitalist Roader. The Shanghai Composite Index (SCI) is down (closing at 2,552.66 yesterday, and falling again this morning), the domestic economy may be slowing and if there is slightly less hand-wringing about the crisis in Europe, it’s because of [...]
China Economic Review was recognized at the Society of Publishers in Asia 2010 Awards for Editorial Excellence last night. The magazine received an honorable mention in the excellence in special coverage category for the November 2009 special issue on China’s environmental challenges.
The judges said the following about our entry:
Significant topic, [...]
Capitalist Roader Fund:
The Shanghai Composite Index (SCI) is down 0.8% from Monday and is down for the morning as continued uncertainty over the end of the renminbi peg, rising worker wages and the continuing European debt crisis keep cash off the table and markets favoring the status quo.
Since Monday, China [...]
Capitalist Roader Fund
Investors in Shanghai aren’t feeling terribly optimistic these days, what with the awful, awful weather and new GDP data that showed growth slowing in the second quarter (although at an expansion rate of 10.3%, the country is hardly grinding to a halt). The Capitalist Roader Fund has sat [...]
The People’s Bank of China has scaled back its open-market
operations pretty dramatically in April. After draining RMB602 billion of
liquidity in March through bill and repo sales, the central bank has drained RMB124
billion through April 17. The bank only drained RMB14 billion last week, down
from RMB218 billion three weeks ago. There are several factors behind the
slowdown [...]
I was at a conference in Sao
Paolo, where I was lucky enough to share the stage with a number of
luminaries, including Pedro Malan. Needless to say the subject of China
is hot in Brazil. There is a great deal of soul-searching about the
impact of Chinese commodity purchases on Brazil’s economy, along with a
great deal [...]
Exchange-traded derivatives originally only did commodity underlyings.
The world’s first financial underlying was : currencies. On 16 May
1972, the Chicago Mercantile Exchange started trading in currency
futures. To any finance person, nothing is simpler than a currency
futures, but unfortunately in India a mixture of ignorance, ideology
and [...]
One counterpoint I often hear about the renminbi’s role in rebalancing
China’s economy is “but hey, look at Japan: It’s had a flexible exchange
rate for years and, yet, its growth is still reliant on external
demand”.