China markets team leader, senior correspondent, Shanghai, China
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Aug 28, 2015

China shares rise sharply on signs of fresh government support

SHANGHAI (Reuters) – China stocks jumped more than 4 percent for a second straight day on Friday as signs of fresh support from Beijing prompted more bargain hunting following the earlier plunge that panicked global markets.

The mainland’s blue-chip CSI300 index .CSI300 rose 4.3 percent, to 3,342.29 points, reducing the week’s loss to 6.9 percent. The Shanghai Composite Index .SSEC gained 4.8 percent to 3,232.35 points, though for the week, it lost 7.9 percent.

Aug 27, 2015

Falling prices, not markets, the real headache for Chinese firms

NINGHAI, China, Aug 28 (Reuters) – The dramatic collapse of
China’s stock markets has shaken global investors, but for
Chinese factory executives the real problem is a decline of
another kind – the remorseless erosion of profits thanks to
nearly four years of price deflation.

While the stock market rollercoaster of the past 12 months
has hogged headlines, Chinese manufacturing has been stagnating
slowly but inexorably for more than three years, with wholesale
prices sliding continuously as legions of small companies
compete desperately to stay above water.

Aug 27, 2015

China’s yuan ends firmer on suspected intervention, stock rally

SHANGHAI (Reuters) – China’s yuan closed firmer against the dollar on Thursday as traders cited large transactions by state-owned banks possibly on behalf of the central bank, which supported the Chinese currency in both spot and derivative markets.

“Major state banks did some large deals, supporting the yuan’s value,” said a dealer at a European bank in Shanghai.

Aug 27, 2015

China stocks buoyed by U.S. rally, yuan edges up

HONG KONG/SHANGHAI (Reuters) – China’s turbulent stock markets rose on Thursday, helped by a strong rebound on Wall Street on expectations that the U.S. Federal Reserve will respond to days of China-led volatility by delaying an expected interest rate rise next month.

Chinese stocks had fallen again on Wednesday – taking their losses to more than 20 percent in just five days – underscoring fragile investor confidence and deep doubt over whether the previous day’s policy easing by the People’s Bank of China’s (PBOC) could stabilize the economy.

Aug 26, 2015

China’s yuan reverses fall to close firmer, volumes surge

SHANGHAI (Reuters) – China’s yuan reversed earlier declines to close slightly stronger against the dollar on Wednesday, with volumes surging to the second biggest since records were available.

Traders said the market was increasingly divided over the currency’s direction after the People’s Bank of China (PBOC) on Tuesday cut the one-year benchmark bank lending rate by 25 basis points and reserve requirements by 50 basis points for most big banks.

Aug 24, 2015

China shares give up this year’s gains in brutal selloff

SHANGHAI, Aug 24 (Reuters) – Chinese stocks plunged more
than 8 percent on Monday, posting their biggest one-day loss
since the height of the global financial crisis in 2007 as
disillusioned investors dumped shares after Beijing held back
expected policy support at the weekend following last week’s 11
percent slide.

The latest tumble, which saw flagship indexes resolutely
breaking key support levels, wiped out what was left of the
market’s stellar gains this year.

Aug 24, 2015

China stocks give up year’s gains after central bank fails to act

SHANGHAI (Reuters) – Chinese stocks dived more than 8 percent on Monday morning, with the Shanghai index giving up all its gains for the year on investor disappointment that Beijing held back expected policy support at the weekend after markets shed 11 percent last week.

The blue-chip CSI300 index .CSI300 was down 8.6 percent at 3,282.11 points by the end of the morning session, while the Shanghai Composite Index .SSEC had fallen 8.5 percent to 3,211.20 points, putting it back where it began 2015.

Aug 24, 2015

China stocks give up year’s gains after c.bank fails to act

SHANGHAI, Aug 24 (Reuters) – Chinese stocks dived more than
8 percent on Monday morning, with the Shanghai index giving up
all its gains for the year on investor disappointment that
Beijing held back expected policy support at the weekend after
markets shed 11 percent last week.

The blue-chip CSI300 index was down 8.6 percent at
3,282.11 points by the end of the morning session, while the
Shanghai Composite Index had fallen 8.5 percent to
3,211.20 points, putting it back where it began 2015.

Aug 24, 2015

China stocks in morning freefall as pension fund rules fail to inspire

SHANGHAI (Reuters) – China major stock indexes collapsed on Monday morning, with traders saying market disappointment over the lack of a liquidity move by the central bank during the weekend triggered a fresh selloff.

Main indexes tumbled more than 11 percent last week as investors began to worry that the central government was backing off on plans to prop up the market.

Aug 21, 2015

China stocks have worst week since June as hope for government rescue slumps

SHANGHAI (Reuters) – China stock markets tanked more than 4 percent on Friday, taking weekly losses for the main indexes to nearly 12 percent and casting doubt over Beijing’s ability to prevent another bout of panic selling as the market neared collapse again.

The latest tumble followed similar declines in global markets and reflected sharp across-the-board falls in Chinese stock index futures as bears claimed victory over bulls on the settlement day for August index futures contracts. <0#CIF:>

    • 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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