Leland Miller, China Beige Book president, says there is still a lot of internal and external weakness in Chinese equities that are "making people nervous."» Read More
China's securities regulator warned companies against making big issues of new shares. The warning reflects how alarmed Chinese authorities are over the sagging stock market -- the Shanghai Composite Index is now down 18 percent year-to-date.
Just this week, China's securities regulator, warned companies against raising large sums of capital through the issue of new shares. The warnings reflect the alarm felt by Chinese authorities over the sagging stock market, which is down 32% since hitting a record high last October. With this in mind, we thought it would be timely to chart the Shanghai Composite Index and see what direction it might take.
China's Ping An Insurance will "prudently" consider the size and timing of its planned fund-raising after Beijing warned companies against big share sales, the Shanghai Securities News reported on Tuesday.
Asian markets rallied in the afternoon session Monday with financials stocks advancing on talks of a possible rescue plan for U.S. bond insurer Ambac. Japan surged 3 percent, but Shanghai shares slumped over 4 percent.
Asian markets closed lower Friday, with investors spooked by fresh evidence that the U.S. economy is in recession. Japan and South Korea both closed 1 percent lower.
Most Asian markets made firm gains Thursday, as solid earnings and expectations of further U.S. interest rate cuts outweighed worries about inflation, even as oil hit a record high above $101 a barrel.
Asian markets closed sharply lower Wednesday with Japan losing over 3 percent lower and both Australia and South Korea ending around 2 percent down.
Asian stocks ended mostly in the green Tuesday as investors, sought undervalued bank shares and exporters that could gain from a modestly stronger U.S. dollar. Japan, South Korea and Australia all closed stronger.
Asian stocks closed mixed Monday, as investors shrugged off a rash of weak economic indicators to keep most markets afloat. Japan and South Korea closed just a touch higher, which the Hong Kong market fell.
Asian stocks ended the week with a mixed session Friday, but off their earlier lows. Japan closed almost flat despite making sharp losses in the morning. South Korea finished just slightly lower.
Asian markets surged in the afternoon session, buoyed by a surprise increase in U.S. retail sales and unexpectedly strong growth figures for the Japanese economy. Both Tokyo and Seoul closed over 4 percent higher.
Asian markets received an early boost after billionaire investor Warren Buffett made an offer to take on $800 billion of U.S. municipal bond risk. But many of the Asian indexes gave back earlier gains to close mixed. Indian and Hong Kong stocks closed firmly higher, while China and Australia fell.
Asian markets were slightly higher on Tuesday driven by a rebound in the U.S., but financials remained fragile after American International Group raised fears it would become the latest casualty of the credit crisis.
Oil and precious metals rose on supply concerns on Monday in thin holiday trade in Asia, while the few stock markets that were open, such as South Korea and Australia, unravelled on fear the credit crunch would spread further.
The Japanese market fell 1.4 percent in a quiet Friday session. But Australia finished 1.1 percent higher. Volumes were thin with many investors away for the lunar new year.
Japan ended higher Thursday, rebounding from early losses, but Australia closed lower, hitting a five-day low as investors remained sidelined after recent signs that the U.S. economy is headed into recession.
Asian markets tanked in the afternoon session Wednesday, sending investors on a selling spree after unexpectedly weak service sector data in the United States and Europe fueled fears of a recession. Japan plunged over 4 percent and Hong Kong closed more than 5 percent lower.
Asian markets continued their weak run Tuesday with financial stocks sinking after U.S. credit card firms and banks were downgraded, stoking fears their troubles could spread to the global sector.
Asian markets rallied Monday, as Microsoft's bid for Yahoo and China's purchase of a large stake in takeover target Rio Tinto boosted optimism over share valuations. Japan added 2.6 percent while South Korea advanced 3.4 percent.