"Who wants yesterday's papers, who wants yesterday's news."
The Rolling Stones

Chinese stocks made a big comeback on Thursday to edge just over 5,000 points again, recovering part of the more than 20 percent losses in less than two months.


An investor monitors stock price movements at a brokerage in Haikou, South China's Hainan Province November 28, 2007. [newsphoto]
The benchmark Shanghai Composite Index rose 4.16 percent to close at 5,003.33 points, reversing three consecutive days of losses. Before the rebound, the gauge lost 21.57 percent since peaking on October 16.

Other indicators also increased. The Shenzhen Composite Index gained 3.06 percent to 1,257.26, while the CSI 300 Index of major companies in the two bourses went up 4.16 percent to 4,842.07.

Turnover in Shanghai and Shenzhen rose to 116.43 billion yuan, an increase of 50.45 percent over the previous session, indicating a recovery of investor confidence.

The market needed a technical rebound after several days of corrections, analysts said. But they were uncertain whether the recovery will last.

Another factor that might contribute to Thursday's rally might be a surge in the global equity markets after a senior Federal Reserve official from the United States hinted at a further rate cut.

Don Kohn, vice-chairman of the Fed, said the US central bank would be "flexible and pragmatic" in responding to new risks to growth arising from the relapse in financial markets.




After Kohn's comment, stocks rallied, with the Dow Jones Industrial average jumping 2.6 percent on Wednesday, its biggest percentage gain since April 2003. Japan’s Nikkei 225 average rose 2.38 percent on Thursday.
Back in Shanghai and Shenzhen, blue chips led the surge. PetroChina rose 2.77 percent to close at 33.04 yuan per share, while Sinopec jumped 8.77 percent to 21.83 yuan.

In the financial sector, the Industrial and Commercial Bank of China went up 6.37 percent, followed by a 5.27 percent growth in China Construction Bank to 10.38 yuan.

Property shares were also strong, with China Vanke rising 4.34 percent to 31.26 yuan. Financial Street Holding jumped 8.15 percent to 27.47 yuan.


http://www.chinadaily.com.cn/china/2007-11/29/content_6288300.htm

BSE up slightly to over 19000

SENSEX 19,003.26 +64.39 +0.34
MIDCAP 8,362.55 -20.94 -0.25
SMLCAP 10,389.75 +14.45 +0.14
BSE-500 7,681.11 +11.62 +0.15


HK yo-yos up 1111 points to 28482

Europe's main indices mixed some slightly in red some in green- one can say they are essentially flat in green or red.

Dow and Nasdaq futures down- though they had a fantastic run-up yesterday. So did the TSX.

Fundamentals according to most are still stong except for US- mixed bag.

China stocks post biggest monthly loss since 1994Reuters Friday November 30 2007
(Adds details)
By Claire Zhang and Lu Jianxin
SHANGHAI, Nov 30 (Reuters) - China's main stock index fell 2.6 percent on Friday, led by index heavyweights such as PetroChina, ending November with a loss of 18 percent -- its biggest monthly drop since July 1994.
The Shanghai Composite Index closed at 4,871.778 points, after jumping 4.2 percent on Thursday in a technical rebound that it failed to sustain.
Market sentiment has been severely undermined by a fall of more than 21 percent in the past six weeks.
PetroChina, the market's largest capitalised stock, was one of the most actively traded shares by volume, dropping 4.6 percent to 31.52 yuan after hitting an intraday low of 31.50 yuan, its lowest since its A shares were listed in Shanghai on Nov. 5. The Shanghai index has sagged 19 percent since PetroChina's debut.
"A reasonable price for PetroChina would be around 27 to 32 yuan," said Qin Qimin, senior stock analyst at Shenyin and Wanguo Securities. "More time is needed for PetroChina to find a stable floor."
Analysts said any future rebound may invite more profit-taking, given the market's weak sentiment.
Investors have been discouraged by tightening monetary policy, authorities' curbs on fund flows into stocks, a heavy supply of new shares, high valuations and sagging foreign stock markets.
Turnover in Shanghai's A-share market fell to 69.1 billion yuan ($9.3 billion) from Thursday's 80.6 billion yuan. Losing Shanghai stocks outnumbered gainers by 646 to 198.
But some analysts doubted there would be further substantial declines.
"After such a steep loss, I really see limited potential for it to fall sharply again," said Zheng Weigang, senior analyst at Shanghai Securities, adding that the index should be able to find support between 4,500 and 4,700 points.
WARY IN NEAR TERM
The index has fallen sharply from a record intraday high of 6,124.044 points in mid-October, but it is still up 82 percent this year.
It was the third time this week for the Shanghai index to close below its 120-day moving average, now at 4,908.333 points. On Tuesday, the index breached the moving average for the first time in nearly two years, sending a strong selling signal to chart-watching investors.
Analysts remained wary about the market's near-term outlook.
The official Securities Times reported on Friday that this week's meeting of the Chinese Communist Party's political bureau stressed the need to prevent a rapid rise in inflation and a potential overheating of the economy.
"We are concerned that the government will take tougher monetary tightening steps in 2008," Yang Yun, a fund manager at Industrial Fund, said in a research report on Thursday.
But the official China Securities Journal quoted some experts as saying that the stock market would resume its bull run in 2008, propelled by forecast economic growth of 10.8 percent and a more than 30 percent annual jump in corporate earnings next year.
The recent steep declines in some blue-chip companies such as oil refining giant Sinopec, which has tumbled 35 percent since the listing of PetroChina, may attract some bargain-hunting later this year, analysts said.
But they were sceptical about the prospects for near-term buying. "It is too early to buy right now as inflation pressure is still lingering," said Zhang Qi, analyst at Haitong Securities.
Among heavily weighted financials, Bank of China fell 1.98 percent to 6.45 yuan and Ping An Insurance dropped 1.14 percent to 108.73 yuan.
Industrial & Commercial Bank of China, the second largest stock with a weighting of more than 8 percent in the Shanghai Composite Index, edged down 0.37 percent to 7.99 yuan.
Bucking the trend, beer maker Yunnan Honghe Guangming soared 70 percent to 12.40 yuan on Friday after announcing it had completed its state share reform, following a trade suspension in its shares since June 4. (Editing by Charlie Zhu and Edmund Klamann)

http://www.guardian.co.uk/feedarticle?id=7116185

HK is up to 28643 . Many attribute this to lowering of arbitrage between HSI and SSEC.

BSE up 359 points to 19363


SENSEX 19,363.19 +359.93 +1.89
MIDCAP 8,553.56 +191.01 +2.28
SMLCAP 10,526.02 +136.27 +1.31
BSE-500 7,865.98 +184.87 +2.41

Dow and Nasdaq futures up. West Texas crude down to approx $90 from its high of almost $100 a few days ago.

Gold and silver down.

Europe's main indices up. Brazil nearing its all time high - now in the 63,000s

Most markets are either in green or red marginally.

China down 3 points. HK up 15 points. Nikkei down 52 points.

Dow down 26 points and TSX down 4 points.

BSE bucking the trend and up 240 points to 19603

SENSEX 19,603.41 +240.22 +1.24
MIDCAP 8,764.26 +210.70 +2.46
SMLCAP 10,786.20 +260.18 +2.47
BSE-500 8,019.14 +153.16 +1.95

China up 47 points to 4915.89.
HK up 221 points to 28879.59

BSE down 74 points to 19529.50

CanD below par with USD
Nikkei down.
Main European indices down.
Dow futures down.
Will Dodge drop interest rates?

Hattrick!

HK up 465 points to 29345.45

CHina up 126 points to 5042.65

BSE up 208 points to 19738.07

Major European indices up.

All seems to augur well for Dow and TSX.

CanD still below par.

HK up 213 points to 29558

Nikkei up 265 points to 15874.08

China flat in red loses 7 points to 5035.07



BSE inches up 57.80 points to 19795.87

Bank of England drops interest rate by 1/4 percent to 5.5%. First drop in over 2 years.

EU currently has held its rate steady at 4% . US expected to drop rates further.
Main European indeices a mixed bag, all were up earlier on but have lost ground
TSX and Dow currently flat.

Cand continues to lose ground. Gold down, silver up. Oil down

BSE up 170 points to 19966.00

SENSEX 19,966.00 +170.13 +0.86
MIDCAP 9,021.96 -11.80 -0.13
SMLCAP 11,342.27 -18.46 -0.16
BSE-500 8,219.20 +37.27 +0.46

China up 56.68 points to 5091.76.

HK traded up in early session but ended heavily down, 716 points, now at 28842.47

Yesterday oil traded down to $85 range but then turned around to close above $90.

Gold holding at $800, silver at $14.47.
TSX and Dow up yesterday. TSX almost hitting 14000, now at 13849.80.

Nikkei up , traded over 16000 but closed below at 15956.37

No breakout s as yet.

Dow also trading at almost its upper end of trading band of 13700 according to some pundits and 13800 acc to others. It is now at 13619.90

Are we in for a last ditch effort to a Santa rally? Would do wonders for Xmas shopping.