China shares have enjoyed a three-month-long rally and now it's time for investors to turn selective, analysts said.» Read More
HONG KONG, Oct 30- Hong Kong shares sank to their lowest in almost two weeks on Tuesday, with most local developers slipping further in the wake of fresh curbs on real estate purchases in the territory. Investors also took profits on Chinese banks, recent outperformers after strong third-quarter earnings from three of China's ``Big Four'' banks.
Du Jinsong, Head of Asia Property Research, Credit Suisse says the central government in China has been clamping down on the property sector but this is not the case at the local level. He gives his top pick for the real estate market.
Fears of a collapse in China’s property market have sent shares of mainland developers and the MSCI China Property Index tumbling in recent weeks. However, Daiwa Capital Markets says the stocks have been oversold and is optimistic the mainland property market is headed for a soft landing.
Hedge funds and local investors have been getting increasingly pessimistic about Greater China stocks, with the short interest on the Hang Seng Index now near a one year high. But The Royal Bank of Scotland (RBS) is taking a contrarian view, saying it believes the MSCI-China Index could see a 40-80 percent upside through 2012.
I’ve detailed in this space how Monday morning is often replete with news of multibillion-dollar takeover deals. This makes perfect sense, because the weekend provides a quiet few days to hammer out details behind closed doors. But we’ve had to put the alliterative “Merger Monday” moniker on hold, while deals moved to other days of the week: I’m not sure there have been too many Wednesdays with as many deals as we saw today...
People's United Financial said on Wednesday that it would buy Chittenden Corp. for $1.9 billion in cash and stock, combining one of Connecticut's largest banks with one of Vermont's largest.