China markets team leader, senior correspondent, Shanghai, China
Pete's Feed
Mar 27, 2015

China stocks rise as govt waives $1 bln investment limit

SHANGHAI, March 27 (Reuters) – China stocks rose on Friday
morning, led by property shares which rose sharply
on expectations of increased support, and bolstered by the
government raising limits in its qualified investor scheme.

Energy shares remained strong on continuing tension in the
Middle East.

The impact of poor economic data released on Friday -
showing profits earned by Chinese industrial firms fell 4.2
percent in January-February – was offset by expectations of
fresh money inflows after China waived the $1 billion limit on a
foreign fund investment under the Qualified Foreign
Institutional Investor (QFII) scheme.

Mar 25, 2015

Weak banks threaten to break China stocks’ 10-day streak; Hong Kong mixed

SHANGHAI, March 25 (Reuters) – Banking heavyweights dragged
China’s stock markets lower on Wednesday, threatening to snap
their 10-day winning streaking win, and analysts warned of
rising volatility as more people piled into the market betting
on a further rally.

“The market is a bit crazy now. Even migrant workers are
beginning to open stock accounts,” Shen Zhengyang,
Shanghai-based analyst at Northeast Securities said, referring
to farmers who come to cities to work, often for low pay.

Mar 24, 2015

Chinese firms’ profits resilient despite sliding investment, weak retail: survey

SHANGHAI (Reuters) – Chinese companies grew increasingly cautious about spending in the first quarter as the economy cooled, with growth in capital expenditure dropping to its weakest on record even as profit margins held up better than expected, a private survey showed.

The China Beige Book’s quarterly survey of over 2,000 Chinese firms found signs of declining investment in every sector it surveyed apart from real estate.

Mar 10, 2015

China Feb consumer inflation rebounds

BEIJING (Reuters) – The pace of Chinese inflation unexpectedly picked up in February, but producer prices continued to slide, underscoring the intense pressure on profit margins at Chinese companies and adding urgency to policymakers’ efforts to find new ways to support growth.

The producer price index (PPI) declined 4.8 percent in February, the National Bureau of Statistics said on Tuesday – the most negative reading posted since Oct 2009 – extending a long-running factory deflation cycle that began in 2012 to nearly three years.

Mar 10, 2015

China Feb consumer inflation rebounds, producer deflation intensifies

BEIJING (Reuters) – The pace of Chinese inflation unexpectedly picked up in February, but producer prices continued to slide, underscoring the intense pressure on profit margins at Chinese companies and adding urgency to policymakers’ efforts to find new ways to support growth.

The producer price index (PPI) declined 4.8 percent in February, the National Bureau of Statistics said on Tuesday – the most negative reading posted since Oct 2009 – extending a long-running factory deflation cycle that began in 2012 to nearly three years.

Mar 4, 2015

China stocks surrender gains on economic worries; Hong Kong slips too

SHANGHAI, March 4 (Reuters) – China stocks ended lower on
Wednesday morning, as early gains following a private survey
showing growth in the service sector were erased by continuing
worries about the economy.

Investors are seeking fresh policy cues from this week’s
meeting of China’s legislature, the National People’s Congress.

Mar 2, 2015

China’s funding costs fall less than expected after central bank rate cut

SHANGHAI, March 2 (Reuters) – Chinese money and debt rates
fell slightly on Monday after the central bank cut interest
rates, but the decline was milder than expected, highlighting
the difficulty Beijing has getting its adjustments to benchmarks
reflected in real lending rates.

The weighted average of the benchmark seven-day bond
repurchase agreement was quoted at 4.7 percent by
midday, down only 12 basis points from the previous close. The
one-day rate dropped 9 basis points to 3.42 percent.

Mar 2, 2015

China, HK stocks lukewarm after interest rate cut; banks fall on profit concerns

SHANGHAI, March 2 (Reuters) – China stocks posted modest
gains on Monday after the central bank cut interest rates over
the weekend, with some investors expressing disappointment that
it didn’t cut rates more deeply.

The People’s Bank of China cut interest rates for the second
time in just over three months late on Saturday as the
government steps up efforts to support the slowing economy amid
the mounting threat of deflation.

Mar 1, 2015

China central bank steps up easing tempo as factory activity shrinks

SHANGHAI (Reuters) – Weakness in China’s vast manufacturing sector, aggravated by high real borrowing costs and weak demand, appears to have driven the central bank to accelerate the pace of monetary easing to ward off deflation in the world’s second-largest economy.

Cuts to benchmark lending and deposit rates, announced by the People’s Bank of China (PBOC) on Saturday evening, pre-empted official data released on Sunday that showed a second consecutive month of shrinking manufacturing activity for February.

Mar 1, 2015

China c.bank steps up easing tempo as factory activity shrinks

SHANGHAI, March 1 (Reuters) – Weakness in China’s vast
manufacturing sector, aggravated by high real borrowing costs
and weak demand, appears to have driven the central bank to
accelerate the pace of monetary easing to ward off deflation in
the world’s second-largest economy.

Cuts to benchmark lending and deposit rates, announced by
the People’s Bank of China (PBOC) on Saturday evening,
pre-empted official data released on Sunday that showed a second
consecutive month of shrinking manufacturing activity for
February.

    • About Pete

      "Pete Sweeney is Senior Markets Correspondent at Reuters, focused on bond, forex, interbank and equities markets. Previously editor of China Economic Review, a Hong Kong-based monthly magazine focused on providing news and analysis on the mainland economy. Sweeney came to China as a Fulbright scholar in 2008, and conducted research on Chinese business policy in Hangzhou, Harbin and Chengdu. He has also lived and worked in Belgium, Ecuador and the U.S. He speaks Chinese, at the expense of his Spanish."
      Joined Reuters:
      March 2012
      Languages:
      Mandarin, Spanish
      Awards:
      Fulbright Scholar
      Foreign Languages and Area Studies Scholar
      Boeing Merit Award
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