"The sole meaning of life is to serve humanity."
-Leo Tolstoy


SHANGHAI (XFN-ASIA) - China A-shares ended the morning session higher as investors regained confidence after seeing the limited impact on the local bourse of the weakness in global markets led by Wall Street late last week.

Analysts said investor confidence has been restored after the local market stood firm against the global slump on Friday, even gaining week-on-week on upbeat expectations of corporate earnings for the first half.

Property and financial stocks led the advance, driving the benchmark index to another all-time high.

The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, hit another intraday high at 4,433.66 points, before it ended the session up 69.93 points or 1.61 pct at 4,415.29.

The Shanghai A-share Index rose 73.56 points to 4,630.99, and the Shenzhen A-share Index was up 24.47 points at 1,326.27.

The FTSE/Xinhua China A 50 Index was up 322.50 points at 16,654.85. The FTSE/Xinhua China A 200 Index rose 236.63 points to 12,633.24 and the FTSE/Xinhua China A 600 Index gained 196.96 points to 10,941.21.

(1 usd = 7.57 yuan)

lilian.wu@xfn.com

lw/net

-

BSE hits 15550

INDICES Points +-Pt +-%
SENSEX é 15,550.99 290.08 1.90
MIDCAP é 6,718.08 99.09 1.50
SMLCAP é 8,070.63 128.88 1.62
BSE-100 é 8,004.05 158.64 2.02
BSE-200 é 1,894.18 36.34 1.96
BSE-500 é 6,063.20 113.40 1.91


Europe up, TSX up, Dow up! The bulls are back in town. Drink up!

"The sole meaning of life is to serve humanity."
-Leo Tolstoy


Looks like the bulls had too much to drink yesterday at lunchtime and racked up a sizeable bill, so booked profits in the afternoon sending the TSX and Dow spiralling down.

Today:

CHINA

A-shares closed sharply lower amid volatile trading as investors booked profits after the benchmark index reached a new intraday high. Sharp falls in other Asian markets also weighed on sentiment and prompted a heavier sell-off in late trade.

The Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed down 170.47 points or 3.8 pct at 4,300.56, after hitting an all-time intraday high of 4,502.30 in the morning session.

The Shanghai A-share Index fell 178.31 points or 3.8 pct to 4,510.78 and the Shenzhen A-share Index was down 52.27 points or 3.9 pct at 1,297.56.

http://www.forbes.com/markets/feeds/afx/2007/08/01/afx3974711.html



BSE down a whopping 615 points!Now below 15000!

INDICES Points +-Pt +-%
SENSEX ê 14,935.77 -615.22 -3.96
MIDCAP ê 6,461.46 -256.62 -3.82
SMLCAP ê 7,775.90 -294.73 -3.65
BSE-100 ê 7,674.08 -329.97 -4.12
BSE-200 ê 1,816.02 -78.16 -4.13
BSE-500 ê 5,815.85 -247.35 -4.08

HK down a huge 700+ points abck to 22000 levels.
Nikkei slides 300+ points to below 17000 levels

Europe down. Dow futures down. Extreme turbulence!

Oil maintaining.

A quote from my fave newspaper, International Herald Tribune, for which I use to write quite extensively.


BEIJING: China's shares rose Thursday on gains by banks and real estate companies, rebounding from a one-day fall prompted by worries about a Wall Street slump and problems in the U.S. mortgage market.

The benchmark Shanghai Composite Index closed up 2.5 percent, or 107.17 points, at 4,407.73. It was just short of an all-time high of 4,471.03 set on Tuesday. The Shenzhen Composite Index for China's smaller second market rose 4.1 percent to 1293.14.

"A recovery on Wall Street helped Chinese investors regain confidence and prompted them to look for bargains in listed companies with solid fundamentals, such as property developers and banks," said Yu Zuojie, an analyst at Shanghai Securities.

Chinese shares tumbled 3.8 percent Wednesday, following a tumble by other Asian markets on worries that U.S. problems with subprime mortgages could cause global financial problems.

But Chinese investors have been bullish on domestic issues, expecting strong profits amid a boom that saw the country's economy expand by 11.9 percent last quarter

http://www.iht.com/articles/ap/2007/08/02/business/AS-FIN-MKT-China-Markets.php

BSE up but still below 15000!

INDICES Points +-Pt +-%
SENSEX é 14,985.70 49.93 0.33
MIDCAP é 6,515.42 53.96 0.84
SMLCAP é 7,805.46 29.56 0.38
BSE-100 é 7,709.47 35.39 0.46
BSE-200 é 1,824.50 8.48 0.47
BSE-500 é 5,844.15 28.30 0.49

Europe up and Nikkei up. Hk down slightly. Yesterday Dow up 100+ points but TSX down 200+ points.

A mixed bag. The mot du marche (word on the street) is that if the US mortgage probs are further exacerbated, Bernanke will lower interest rates, in which case Canada will follow suit. Maybe that's wishful thinking.

India heightened Bank reserves.

Today the A-share market extended yesterday’s rally. The Shanghai Composite Index closed at 4,651.23, reaching an all-time high of 4,687.44 during the day. The non-ferrous metal sector was today’s super star.

Now the SCI is approaching the 4,700 top of the range we predicted in the weekly report. And it is hopeful to rewrite the 4,687 record and then challenge 4,700 level. Heading toward 4700, the market is stepping into a crazy range again. Given that the indices may encounter significant correction at any time in the following days, we suggest that investors actively reduce their long positions. It is reasonable to hold a position that is no more than a third of your total capital.

Share This
http://www.chinaeconomicreview.com/reddragonfund/

Europe after losing ground yesterday is up again today. Dow was up yesterday.

Dow is as volatile as any other world market and is as Mickey Mouse a market as the 'developing' countries right now.

Silver just short of $13. Gold hovering around $670.
Brent and West Texas around $72 range

Let's see what TSX has in store for us. The prognosis is down.

BEIJING: China's key index rose to a new record high Wednesday for a fourth straight trading session, driven by a rise in bank stocks and demand from new securities funds.

The benchmark Shanghai Composite Index rose 0.3 percent to close at 4663.16, breaking the record high set Tuesday. The Shenzhen Composite Index dropped 1.7 percent to 1328.83, falling from a record high of 1,341.11 on Tuesday. It was the first day in four that Shenzhen didn't match Shanghai with its own new high.

http://www.iht.com/articles/ap/2007/08/08/business/AS-FIN-MKT-China-Markets.php

HK up a whopping 628 points!
Nikkei buoyed up above 17000 again.
FTSE, CAC, DAX up
Dow futures up.

Oil below $72

'My Karma runs over your dogma'- Bal Thackeray


China's stock market capitalization topped the country's Gross Domestic Product (GDP) for the first time on Thursday as a key stock index hit a fresh record high for a fifth straight session.

The benchmark Shanghai Composite Index rose 1.95 percent to close at 4,754.09 points, while the Shenzhen Composite Index went up 1.51 percent to 1,348.87.

That made the overall value of the two bourses surpass the 21.087 trillion yuan in GDP in 2006, according to data from China Securities Journal


http://www.chinadaily.com.cn/china/2007-08/09/content_6019614.htm

Europe bourses down as much as they went up yesterday. HK down. Nikkei up.
Texas West back up to $72.

A real see-saw.

The graphs for TSX, DAX, CAC, FTSE are declining sinusoidals.

Dow Jones futures down heavily.

Some summer activity we are having.

"I'm so broke, I can't even pay attention" - Anonymous

SHANGHAI, China: China's shares fell slightly Friday, snapping a record-setting, five-day climb as real estate stocks were dragged down by worries about U.S. subprime mortgage woes.

The benchmark Shanghai Composite Index ended down 0.1 percent at 4749.37 after hitting new record highs in each of the past five sessions. The Shenzhen Composite Index dropped 2.2 percent to 1319.55.


http://www.iht.com/articles/ap/2007/08/10/business/AS-FIN-MKT-China-Markets.php

BSE drops 232 points

INDICES Points +-Pt +-%
SENSEX ê 14,868.25 -231.90 -1.54
MIDCAP ê 6,507.62 -51.96 -0.79
SMLCAP ê 7,904.13 -59.99 -0.75
BSE-100 ê 7,660.81 -118.65 -1.53
BSE-200 ê 1,814.14 -27.00 -1.47
BSE-500 ê 5,815.00 -82.26 -1.39

Europe, Japan, HK all down.

Some European indices have dropped 10% which according to a school of thought signals a bear market. However, some European indices have not fallen that much.

TSX down like 280 points!- now almost 10% from its high.

Dow down

China seems to be the only star these days. BSE also holding in comparison to developed world.

Oil down (Brent down approx 12% from high), gold down, silver down. Gas UP slightly (Hot air maybe?).