Update from China/Asia :
By Daniel at 27 January, 2010, 8:00 am
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
Nikkei 10252.08 -73.20
Hang Seng 20033.07 -76.26
Shanghai 2986.60 -32.78
Straits 2722.93 -17.40
Jakarta 2561.10 -17.31
NZX 50 3193.57 -15.49
TSEC 7560.03 -38.78
Sensex 16364.21 -416.25
Nifty 4861.35 -146.55
Reminder and eye-opening stat: There’s currently 30 billion square feet of Chinese real estate in the works, which would work out to a 5×5x5 cubicle for every man, woman, and Child in the country.
SHANGHAI’S stock market fell for the fourth ! straight day and closed below the IMPORTANT ! 3000 support as property/banks/utillities shares sank on concerns of highter interest rates.The Shanghai Securities News yesterday cited an unnamed official as saying that the pace of lending growth slowed in the third week of January compared with the first two weeks in the month.
The newspaper also reported that Bank of China, Industrial and Commercial Bank of China and Bank of Communications have suspended issuing mortgage loans for second homes in Nanjing since last weekend in order to ensure a reasonable new loan growth.
Have you had your wake-up call yet this morning…and then we’ve got Goldman trying to peddle “Grecian Bonds” (sounds like some kind of an adhesive) to the Chinese…so that inorder to pay for the Grecian Bonds maybe they’ll need to sell some of their U.S. bonds…whereby Goldman should be able to help broker those to someone or some country somewhere.
After-all…the Chinese (admittedly) did want to diversify their portfolio…maybe some of those pesky “dollar denominated assets” out…and maybe some “Euro-dollar denominated assets” in.
Ma’goodness what a morning.
Not good … ……..
- doubledutch
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
No comments yet.