Chinese shares outperformed on Wednesday while the rest of Asian shares fell on profit-taking and rising political tensions in the region.» Read More
HSBC is expected to report the West's biggest banking profit for last year, fuelled by the East, while its rivals are struggling with faltering European and U.S. growth.
China Construction Bank is in talks to buy a bank in Brazil amid plans to open a subsidiary in Latin America’s biggest economy, according to officials and people familiar with the matter. The FT reports.
China's recent change to the way it calculates banks reserve requirement ratios (RRR), requiring lenders to set aside more funds on their margin deposits, will negatively impact smaller banks, a number of analysts said on Wednesday.
The Big Four Chinese banks' results for the first-half of 2011 showed their non-performing loans (NPLs) portfolio had either declined over the previous six months or stayed unchanged, but despite these encouraging signs, Daiwa Capital Markets expects things to worsen for the Big Four.
China’s banks have been putting aside more money to prepare for rising losses from loans to local governments. According to a recent report by China Construction Bank, mainland lenders have already put aside double their expected non-performing loans (NPLs) as reserves.
Asian markets rallied on Thursday on China’s better-than-expected GDP numbers reassuring investors that the world’s second-largest economy was not headed for a hard landing, but a number of strategists and fund managers are still preferring to play it safe, shunning cyclical stocks for defensive plays.
China bank stocks fell on Wednesday after Singapore sovereign wealth investor, Temasek, sold down part of its stakes in Bank of China and China Construction Bank. But some analysts say the move could be positive for the stocks and shows there is still plenty of demand for the sector from long-term investors.
Asian markets fell on Wednesday after China's central bank raised interest rates for the second time in just over six weeks to rein in stubbornly high inflation. Chinese property and resource counters remained under pressure.
1st paragraph of story should go here
Goldman Sachs wasn’t always planning to invest nearly a half-billion dollars in Facebook, according to people familiar with the matter.