Shanghai Bureau Chief
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Oct 26, 2011

Ping An Q3 profit plunges 44% on acquisition costs

SHANGHAI, Oct 26 (Reuters) – China’s Ping An Insurance
, the world’s second-largest life insurer, posted a
surprise 44 percent slump in third-quarter profit, hit by
one-off costs for its takeover of Shenzhen Development Bank
.

Ping An, in which bank HSBC owns a 15.6 percent
stake, also had to contend with sinking markets.

Oct 26, 2011

Yuan edges up, market cautious amid political rows

SHANGHAI, Oct 26 (Reuters) – The yuan was slightly up versus
the dollar by midday on Wednesday, with the market remaining
cautious amid growing pressure from the United States for China
to do more to let its currency strengthen.

The People’s Bank of China (PBOC) has continued to set the
yuan’s daily mid-point at or around record high levels over the
past few days, in what traders interpreted as a gesture ahead of
a Group of 20 summit in France next month that China is willing
to let the currency appreciate.

Oct 12, 2011

Yuan ends up as Chinese state banks sell dollars

SHANGHAI, Oct 12 (Reuters) – China’s yuan reversed an
earlier fall to close firmer against the dollar on Wednesday as
state-run Chinese banks sold dollars after the yuan fell to its
lower daily limit on speculation that a U.S. bill prodding China
to let the yuan rise at a faster pace could spark retaliatory
steps.

The People’s Bank of China (PBOC) has at times in the past
engineered declines in the yuan to coincide with U.S.
pressure for it to strengthen its currency, in what analysts
have interpreted as an effort to signal that it will move at its
own pace on the currency, officially known as the renminbi.

Oct 12, 2011

Yuan falls on currency retaliation worry, but off daily limit low

SHANGHAI, Oct 12 (Reuters) – China’s yuan fell versus the
dollar on Wednesday on speculation that a U.S. bill prodding
China to let the yuan rise at a faster pace could spark
retaliatory steps, but the currency recovered from its lower
daily limit after government-controlled Chinese banks sold
dollars into the market.

The People’s Bank of China (PBOC) has at times in the past
engineered declines in the yuan to coincide with U.S.
pressure for it to strengthen its currency, in what analysts
have interpreted as an effort to signal that it will move at its
own pace on the currency, officially known as the renminbi.

Oct 12, 2011

Yuan falls on trade dispute worries, briefly limit down

SHANGHAI, Oct 12 (Reuters) – China’s yuan fell
sharply in early trade on Wednesday to its lower daily limit
against the dollar, although it later recovered somewhat,
reflecting worries among traders about the potential fallout
from the U.S. Senate passing a bill aimed at pushing China to
let its currency rise at a faster pace.

The People’s Bank of China has at times in the past
engineered falls in the yuan to coincide with U.S. pressure for
it to strengthen its currency, in what analysts have interpreted
as an attempt to signal that it will move at its own pace on the
yuan, also known as the renminbi.

Oct 10, 2011

China buys bank shares to prop up market

BEIJING/SHANGHAI (Reuters) – A unit of China’s sovereign wealth fund started to buy more shares in the country’s big banks on Monday, in the clearest sign yet that Beijing is looking to support the country’s struggling stock markets.

China’s benchmark Shanghai Composite Index has shed nearly 17 percent so far this year, dogged by persistent worries over monetary tightening and concern about momentum in the world’s second-biggest economy.

Oct 10, 2011

China to prop up market by buying bank shares

BEIJING/SHANGHAI, Oct 10 (Reuters) – A unit of China’s
sovereign wealth fund started to buy more shares in the
country’s big banks on Monday, in the clearest sign yet that
Beijing is looking to support the country’s struggling stock
markets.

China’s benchmark Shanghai Composite Index has shed
nearly 17 percent so far this year, dogged by persistent worries
over monetary tightening and concern about momentum in the
world’s second-biggest economy.

Sep 29, 2011

Special Report: “Rats” and “black mouths” gnaw at China stocks

SHANGHAI (Reuters) – Even before China’s great stock market bull run of 2006-2007, Wang Jianzhong had become known as China’s “god of stocks” for his prescient picks.

Such was his influence at the market’s peak that reports by his company, Beijing Shoufang Investment Consulting, republished in dozens of influential newspapers and websites, were themselves often cited as a reason for a particular share price rising.

Sep 29, 2011

“Rats” and “black mouths” gnaw at China’s stock market

SHANGHAI, Sept 29 (Reuters) – Even before China’s great
stock market bull run of 2006-2007, Wang Jianzhong had become
known as China’s “god of stocks” for his prescient picks.

Such was his influence at the market’s peak that reports by
his company, Beijing Shoufang Investment Consulting, republished
in dozens of influential newspapers and websites, were
themselves often cited as a reason for a particular share price
rising.

Sep 8, 2011

Three Chinese provinces preparing municipal bonds -paper

BEIJING/SHANGHAI, Sept 8 (Reuters) – Three Chinese provinces
are getting ready to issue bonds directly instead of via the
Ministry of Finance or through separate financing vehicles, an
official newspaper reported on Thursday, the first step toward
the creation of a municipal bond market.

Beijing has for years said it is interested in allowing
provincial, city and other local governments to issue bonds
directly to bring greater transparency to their finances and
discipline to their investments in infrastructure.

    • About Jason

      "Jason leads Reuters' coverage of China's financial markets from Shanghai. Prior to moving there at the start of 2010, he reported on the Chinese economy and policy from Beijing, where he lived for a decade."
      Joined Reuters:
      2005
      Languages:
      Mandarin, German
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