"You may delay, but time will not."
-Benjamin Franklin

China cracks 4200!

SHANGHAI (XFN-ASIA) - A-shares in Shanghai and Shenzhen closed up, with the main index at a new all time high, on the back of strong follow-through buying with metal and power stocks gaining ground, dealers said.

The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed up 92.34 points, or 2.21 pct, at 4,272.11, a fresh all-time closing high, after moving between 4,215.24 and 4,283.93.

http://www.forbes.com/markets/feeds/afx/2007/05/28/afx3762609.html

BSE up 59 points at 14397

INDICES Points +-Pt +-%
SENSEX é 14,397.89 59.44 0.41
MIDCAP é 6,206.70 63.56 1.03
SMLCAP é 7,334.64 68.72 0.95
BSE-100 é 7,410.28 36.58 0.50
BSE-200 é 1,754.16 9.57 0.55
BSE-500 é 5,608.08 32.84 0.59


Dow Futures up. Even though Markets will remain closed today in the US for Memorial Day, futures wil be open.

FTSE and DAX up. CAC down.

Wonder when the fall is coming. (do I hear September as when autumn {fall} hits town- stupid wisecrack , huh?)

Yaar, this is getting a bit too much. Daily the SSE climbs. Rarely the day it goes negative.

Stocks ladder up to new ground
By Li Zengxin (chinadaily.com.cn)
Updated: 2007-05-29 16:02

The benchmark Shanghai Composite Index broke the 4,300 barrier today and closed up 1.47 percent at 4,334.92, again making a new record on just one point below the daily highest level.
After opening higher from 4,288.98, the index had another daily of long-march growth with the largest drawback before the closing by noon to the daily lowest of 4,262.02. Besides the ten-minutes slump, it went through the day on a general upward trend with few deviations. Turnover in the two exchanges was 378.3 billion yuan, slightly down from yesterday's record large of 394.6 billion yuan.

http://www.chinadaily.com.cn/bizchina/2007-05/29/content_882776.htm

BSE up 110 points

INDICES Points +-Pt +-%
SENSEX é 14,508.21 110.32 0.77
MIDCAP é 6,254.51 47.81 0.77
SMLCAP é 7,388.33 53.69 0.73
BSE-100 é 7,464.59 54.31 0.73
BSE-200 é 1,766.88 12.72 0.73
BSE-500 é 5,650.21 42.13 0.75


FTSE and DAX up CAC trading slightly in - territory.

Brent down from 72 to 70. Silver wading above 13. Gold in the 650s

"Success is never final and Failure never fatal. It's courage that counts."
-George F. Tilton


SHANGHAI (XFN-ASIA) - China shares are expected to open lower following the sharp hike in stamp duties on stock trades overnight, analysts said.

But they said the pullback is expected to be temporary with the long term bullish trend still intact

http://www.forbes.com/markets/feeds/afx/2007/05/29/afx3767854.html

Shanghai market falls after hike in stamp tax on stock tradingWednesday 30 May 2007 05:45The Shanghai markets slid nearly 6 per cent on opening Wednesday after an announcement of a hike in stamp tax on stock trading.The Shanghai Composite index opened lower at 4,087. 41 points, 247. 51 points, or 5. 78 per cent down from Tuesday's close, an all-time closing high of 4,334. 92 points.

???In an effort to cool down the country's runaway equity market the Ministry of Finance announced Tuesday night a rise in the stamp tax on stock trading from 0. 1 per cent to 0. 3 per cent starting Wednesday.

The Shanghai Composite Index has soared more than 60 per cent so far this year on top of a 130 per cent rally in 2006.


http://jurnalo.com/jurnalo/storyPage.do?story_id=38453

BSE down 96 points to 14,411

INDICES Points +-Pt +-%
SENSEX ê 14,411.38 -96.83 -0.67
MIDCAP ê 6,191.61 -62.90 -1.01
SMLCAP ê 7,349.56 -38.77 -0.52
BSE-100 ê 7,396.22 -68.37 -0.92
BSE-200 ê 1,750.33 -16.55 -0.94
BSE-500 ê 5,597.11 -53.10 -0.94


HK, Nikkei, Europe all awash in red

As they would say on Dalal Street- Laal, Laal _____ mein daal!

(Please fill in the blank as you please)

Ok so here goes.
Europe recovered some lost ground but still in red.
TSX and DJIA's flags are flying high.

Anyway, here's the main reason for the post.

http://www.globeinvestor.com/servlet/story/RTGAM.20070530.wibgee30/GIStory/

Breaking News from The Globe and Mail

'Chindia' rising: Not your same old, golly-gee Asian superpowers
Marcus Gee


Wednesday, May 30, 2007

If you want to know how the rise of Asia's new economic superpowers is changing the world, take a look at a new book called Chindia: How China and India are Revolutionizing Global Business. It's a collection of articles by journalists at BusinessWeek, nicely stitched together by the magazine's former Asia correspondent Peter Engardio.

It's easy to be too golly-gee about Asia's spectacular rise, but when you read some of the facts in this book you can't help but keep exclaiming "golly," "gee" quite a bit. For instance did you know that:

Some experts estimate that there are more information technology engineers in the Indian IT Mecca of Bangalore (about 150,000) than in Silicon Valley (120,000)

China is already the world's biggest cellphone market, with more than 350 million subscribers, and that is expected to hit 600 million by 2009.

That same year, the number of Chinese with broadband Internet access should surpass the number in the U.S.

China and India produce half a million new engineers and scientists a year, compared with 70,000 in the U.S.

In 2008, the value of goods exported by China is expected to pass $1-trillion (U.S.) a year.

We have never witnessed anything quite like what is happening in India and China. As this book notes, the world has seen other countries take off in breathtaking fashion: Japan in the 1950s and 1960s, South Korea, Hong Kong and the other Tiger economies of the Far East in the 1960s and 1970s. But none had the demographic heft - the pure numbers of people - to change so much for so many industries around the world.

You have to look back to the emergence of a young, vibrant U.S. in the 19th-century to find a parallel to the rise of "Chindia" today. But as BusinessWeek points out, even that remarkable rise can't really compare with the phenomenon of China and India. "Never has the world seen the simultaneous, sustained takeoffs of two nations that together account for one-third of the planet's population."

For the past 20 years, India's economy has been growing at an average of 6 per cent a year, China's an amazing 9.5 per cent (11.1 per cent in the most recent quarter). If things continue at that rate, China could overtake the U.S. as the world's biggest economy in 40 years and India could surpass Germany as the world's No. 3 economy in 30 years. By mid-century, India and China combined could account for half of global output.

Of course, things could easily go off the tracks. Chindia's authors are careful to point out the risks and liabilities that both countries have. China has a brittle, undemocratic political system and rising levels of open, often violent, unrest. Its growth has been fuelled partly by massive government investment, some of it wasteful and poorly directed. Its banking system is inefficient, with bad-loan levels of up to 20 per cent. Its stock exchanges often seem more like casinos than modern capital markets.

India, for its part, suffers from crumbling airports, highways and ports, an enormous, stifling bureaucracy and horrendous (though improving) levels of poverty and illiteracy, to say nothing of religious tensions and the enduring shame of the caste system.

Despite their dazzling growth rates, India and China started from such a low base that, put together, they still produce just 6 per cent of world output. On the other hand, their growth is blinding. During the Industrial Revolution, Britain and the U.S. doubled real per capita incomes in 50 years. China is doing it every nine.

Whatever challenges they face, the dynamism and optimism of these two giants seems unquenchable. "What makes the two giants especially powerful is that they complement each other's strengths," Chindia's authors remark. China is a manufacturing powerhouse, India specializes in software, design, services and precision industry.

That makes for a world-beating combination. But it doesn't mean the rest of us lose out. The Economist magazine predicted last year that, largely because of exploding growth in places like India and China, "the first decade of the 21st century could see the fastest growth in average world income in the whole of history."

Golly. Gee.



© The Globe and Mail

SHANGHAI (XFN-ASIA) - A-shares in Shanghai and Shenzhen closed sharply lower in volatile trade as fears set in late in the afternoon that the government is planning further measures to cool the market on top of the stamp duty hike announced midweek, dealers said.

The late decline wiped out morning gains and brought the composite index below 4,000 points at one stage, with swings of over 200 points in the trading range, although the index managed to close the day just above 4,000.

The rumored measures include a capital gains tax. A government tax official denied in a newspaper report this morning that there were such plans to impose a tax, and some analysts, including Citigroup, have said it is unlikely.

The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed down 108.91 points, or 2.65 pct, at 4,000.74, after moving between 3,966.98 and 4,181.28.

http://www.forbes.com/afxnewslimited/feeds/afx/2007/06/01/afx3777897.html

BSE up 26 points to 14570

INDICES Points +-Pt +-%
SENSEX é 14,570.75 26.29 0.18
MIDCAP é 6,264.28 41.88 0.67
SMLCAP é 7,473.87 60.84 0.82
BSE-100 é 7,493.11 24.41 0.33
BSE-200 é 1,773.24 7.16 0.41
BSE-500 é 5,671.50 24.60 0.44


Nikkei up, HK down slightly. Europe up with German Dax smashing thru 7800 yesterday and smashing thru 7900 today and now just a shot away from 8000.

Brent crude down to vicinity of $68.

Good stuff!

SHANGHAI (Reuters) -- China's main stock index tumbled 8.3 percent Monday in its second biggest drop this decade, extending big losses suffered last week after the government hiked the share trading tax to cool a bull run.

The index has now lost 15.3 percent from last Tuesday's record intra-day high, erasing about $340 billion of value. A fall of 10 percent is an internationally accepted definition of a bear market in stocks

http://money.cnn.com/2007/06/04/news/international/china.reut/

Looks like China's helium has been let out.

BSE down 75 points to 14495.77

INDICES Points +-Pt +-%
SENSEX ê 14,495.77 -74.98 -0.51
MIDCAP ê 6,233.58 -30.70 -0.49
SMLCAP ê 7,466.77 -7.10 -0.09
BSE-100 ê 7,450.07 -43.04 -0.57
BSE-200 ê 1,764.16 -9.08 -0.51
BSE-500 ê 5,643.21 -28.29 -0.5


HK and Nikkei withstood China's fall and are up. Most indices in ASia took the fall in their stride and are up, even though they initially lost ground.

Europe though is in the red.

The prognosis for the TSX is up, due to + US data coming out this week. Loonie also expected to sweeten. Our sweet CAND (pronounced candy)!

So what is Japan doing headlining news on China and India? Well just to break the monotony

Shanghai shares rise on speculation gov. may undo tax hike

By Chris Oliver
Last Update: 2:55 AM ET Jun 5, 2007


HONG KONG (MarketWatch) -- China's Shanghai Composite Index recovered from a 7.3% plunge early session to trade in positive territory late afternoon on speculation mainland authorities may undo their earlier decision to triple the tax on stock trades. Traders said rumors the government may undo Wednesday's decision to lift the tariff on stock trades to 0.3% from 0.1% were behind the mid-afternoon rally, although there were no official statements from state news sources that such a move was under consideration. In the final hour of trade the benchmark Shanghai Composite Index was up 1.2% to 3,714.03. The Dow Jones China 88 Index was climbed 1.7% to 305.24. Analysts said it was unlikely the mainland authorities would backtrack on their decision to increase the trading tariff. "For the short term I am just taking it as a trading pattern," said Pauline Dan, a fund manager with Manulife Asset Management in Hong Kong. "I don't see any fundamental changes to what the government wants to do."

http://www.marketwatch.com/news/story/shanghai-shares-rise-speculation-gov/story.aspx?guid=%7B3450F2D2-DD17-40D2-A721-2F56803671CB%7D

BSE up 39 points

INDICES Points +-Pt +-%
SENSEX é 14,535.01 39.24 0.27
MIDCAP é 6,261.02 27.44 0.44
SMLCAP é 7,486.67 19.90 0.27
BSE-100 é 7,483.32 33.25 0.45
BSE-200 é 1,771.91 7.75 0.44
BSE-500 é 5,667.56 24.35 0.43

HK and Japan up. Europe trading slightly in + territory.