China’s got all that money and nowhere to spend it

China is ground zero for one of modern history’s greatest resource grabs. Massive investments in Latin America, Africa and Asia have delighted many politicians anxious to revive economic growth. In more developed economies, though, China is hitting its share of resistance or misfortune.

Guangzhao Industrial gets further extension for debt

Singapore Exchange-listed firm Guangzhao Industrial Forest Biotechnology Group has won another extension to repay more than US$8 million (S$11.6 million) to bondholder Liberty Harbor.

OZ Minerals sticking to Chinese deal

It rejects last-minute unsolicited US$1.2b refinancing proposal from Canadian bank

Statue aims to restore ‘truth’ about war heroine

The statue of wartime agent Zheng Pingru shows her at the moment of her execution by the Japanese.

Commodity price rally not the recovery signal many believe

Yet although the surge in commodity prices has had far-reaching effects, some observers are beginning to question whether the rally - like the rise in stock markets - might have run dangerously ahead of economic reality, and to wonder if prices may now be primed for a nasty fall.

Multinationals look to grow in the wind

On the outskirts of Shanghai, German engineering giant Siemens began construction on a 581-million-yuan wind power equipment plant in late May that marks the company’s entry into China’s wind energy market.

China’s new PCs to block sites

China’s government wants all PCs sold in the country from July 1 to be loaded with software that blocks certain websites, the Wall Street Journal reported on Monday.

Oil price rise not sign of recovery

Despite higher prices, supply and demand data is still lacklustre

2009 plumbs the depths in barren spell for IPOs

Even a pickup in the second half may not salvage a year that has seen only 3 new listings so far

“Hot Money” at the Gates of China’s Market

A surge in market liquidity from large security offerings in the United States combined with a more optimistic view of China’s economic recovery and currency, the RMB, has resulted in a flood of “hot money” into Hong Kong, the gateway to investment in mainland China. “Hot money” is the Chinese term for capital awaiting investment in a project.

Chinese economy bottoming out, but to stage U-turn recovery

Chinese economy has bottomed out and is stabilizing against the global economic downturn, but it would go through a U-turn recovery as a quick recovery could hardly be sustained, a researcher with the country’s top think tank said in Beijing on Sunday.

China may shun Australia deals after Rio saga

China may question the wisdom of investing in Australian resources after Rio Tinto last week spurned a multi-billion-dollar link-up for a joint venture with bitter rival BHP Billiton, analysts say.

Bitterness and betrayal for writer let down by best friend

“My life has been ruined since June 4, 1989, and there are too many like me, who pursued democracy out of pure motives for this country but suffered by having to live humble lives afterwards. It’s time for the country to apologise.”

Cosy private banker-client ties can sour

Banks and rich clients go together like champagne and caviar, but there are times when the silky smooth relationship turns toxic.

Chinese consumers can’t power recovery

To turn spenders, savers first need social safety net, real income growth

No Tobacco Day finds little support on the smoky mainland

More than 60 per cent of Chinese males aged 15 and older are habitual smokers, and 540 million people nationwide are affected by second-hand smoke, according to the Worker’s Daily.

Smoking poses major dilemma for mainland

Yesterday was World No Tobacco Day, but it was very hard to find any genuine effort to use the occasion to discourage smoking on the mainland, the world’s largest producer and consumer of tobacco.

More To Come As China Grabs Resources

Another week, another China resources deal in Australia. This time, it’s Metallurgical Corp. of China arranging $3.1 billion in financing for Waratah Coal and taking a 10% stake in the company.

Too many players make a pawn of profits

The atmosphere is tense, there’s dead silence and an air of intense expectation at the end of a fierce bidding war. It’s not Sotheby’s or Christie’s; just a regular scene at the monthly pawnbrokers’ auction.

Veteran actor and memorable movie villain Sek Kin dies at 96

Veteran actor Sek Kin, known for his portrayal of villains in Chinese cinema, died yesterday. He was 96.

Worst is over for economy: UOB-Kay Hian report

Upcoming IRs expected to boost tourism, services & construction sectors

Mainland markets are poor prognosticators

Do fundamental investors set prices on the Shanghai or Shenzhen stock markets? The mainland markets are famously speculative, and many people in China have assured me that this is because for cultural reasons Chinese are inveterate gamblers. Strangely enough these are often the same people who insist that China’s very high savings rates are also explained by Chinese culture.

Key southern cities leading property sales rally

The three cities that led the downturn in the mainland property market last year - Shenzhen, Guangzhou, and Xiamen - are now leading the recovery in the market, analysts say.

How China became America’s banker

It took just three decades for China to transform itself from an economic backwater into America’s banker.

Greentown and China’s Real Estate Rescue

The property market bubble burst last year, but developers are still afloat thanks to governments, banks and a ‘subprime’ solution.

Big shoes to fill in frayed supply chain

Sector tries to cope as sluggish orders leave players high and dry

BAIC may consider bid for GM’s Saab

Swedish unit might tempt after Opel slip

In honour of a deified general

A large paper-cut piece of Guan Gong has been created by Chinese paper-cut lover Gao Xiaodong in Hejin, in Shanxi province.

He spent nine months making 'Profile of Guan Gong', which measures 13m by 8m. Guan Gong is the deified image of general Guan Yu from the Three Kingdoms Period in Chinese history.

5 in the running for Ferrari dealership

They include Ong Beng Seng, incumbent Hong Seh and other sports-car dealers

Debunking China myths

Old myths co-exist with new realities, and unravelling the two presents a major challenge to Westerners.

Signs of recovery driven by liquidity, not return to normality

In other words, we are nowhere near back to normality, whatever the headlines might indicate, and the current bull market in stocks looks vulnerable to a correction should anything happen to knock a hole in investors’ sentiment.

UBS sees Asia markets rallying in second half

“I certainly believe a turnaround will take place in the second half, as investors are increasing their risk appetite, encouraging them to put more money in the equity market,” said David Chin, a co-head of investment banking at UBS Asia.

Morgan Stanley raised China Stocks to “Neutral”

China stocks were upgraded to “neutral” at Morgan Stanley, which said the growth in liquidity globally is boosting asset prices.

S&P 500’s Rise Past 200-Day Average Signals Gains

The rally in the Standard & Poor’s 500 Index above its 200-day moving average is sending a bullish signal after the measure traded below the level for the longest period since the 1930s.

Tougher action needed on errant S-chips

SGX should enlist China’s help and tighten own listing framework

S&P 500 Rally Is in Last Stages, Aurel Says: Technical Analysis

The two-month rally in U.S. stocks is in its final stages and a correction will take place in the coming weeks, according to a technical analyst at Aurel BGC.

Technical Analyst Michael Krauss on S&P 500

S+P 500 Breakout from May’s Range Seeks Our 950-1000 Pre-Summer Target

‘The trend is your friend - until it bends’

Cast a stone at random into a crowd of stock market enthusiasts and chances are it would land on someone who might confess to being somewhat bewildered by the strength and endurance of the present rally.

Struggling GM thrives in China

It is achieving record sales there and may export to the US

Decades of mistakes, missteps led to downfall

The downfall of General Motors (GM) comes after decades of mistakes and missteps chipped away at the reputation and market share of the once mighty carmaker and buried the Detroit giant in debt.

Xtep stays a step ahead of the rest

Though most of the panic-stricken Chinese shoemakers call the ongoing global economic crisis the worst ever in their career, others like Ding Shuibo are optimistic.

Regulate with a Big Stick, Not a Fly Swatter

China’s securities regulators should focus on sound oversight and tough discipline to protect, not merely stabilize, the market.

Personal Ties Turn Bitter for Sinolink Chief

A suspicious trail led investigators from key figures at the China Securities Regulatory Commission straight to Sinolink’s Lei Bo.

IPO Reforms No Guarantee of Market-Oriented Share Issues

The IPO reforms feature auction-based share issues intended to give small investors a better chance and reducing the disparity between share offer prices and the prices achieved on the first day of trading.

June 4 a closed book for many bright young minds

“Fear lies only in your heart and if you ignore it, it will disappear,” he said.

Will today’s students remember?

Keeping memories of June 4 alive is a challenge

Couple found guilty of sending out seditious tracts

A christian couple who mass-mailed evangelical tracts to the public for many years were yesterday found guilty of distributing seditious or objectionable publications to three Muslims.

THEN: Hotshot investment manager, NOW: Fund sues him over FerroChina losses

The fallout from the sudden collapse of debt-laden, Singapore-listed Chinese steel coil-maker FerroChina last October has spread to affect former hotshot investment manager Lee Chong Min.

Confessions of Chinese Derivatives Deals, Part 3

In this latest instalment, a former investment banker tells how ‘accumulators’ favoured banks at the expense of Chinese clients.

Efficiency’s Urgent Cry for Attention

China’s economy has squeezed a lot of growth out of liquidity, exports and new infrastructure. It’s time to embrace efficiency.

New Nail in the Decoupling Theory Coffin

GDP and industrial production data proves that emerging markets grow in tandem with the developed world – and a lot faster.

CFA much-coveted title despite market collapse

Robert Johnson says non-finance professionals boost demand

Flu outbreak shows importance of giving up smoking

The Department of Health said on Monday the outbreak of human swine influenza had reiterated the need for Hong Kong people to give up smoking.

Hongxing aims to beat foreign players in sportswear sector

China Hongxing Sports, the mainland’s leading sportswear maker, aims to grab a 15 per cent share of the domestic market, as it is confident of getting ahead of foreign rivals in expanding its sales network.

In land of consumers, children are kings

The nation’s little emperors and empresses constitute a sector that can fast-track economic recovery

IPO move may spark sell-off on mainland

Price dilution from fresh listings feared

Liquidity inflow might keep market buoyant

The price of Hong Kong-listed blue chips has soared over the past two months, but investors may still be willing to pay for the mark-up in hopes that recent inflows of liquidity will drive further market gains.

Short-selling fines: are criticisms unjustified?

Judging by recent reports, the Singapore Exchange’s fines for open short-sold positions (or ‘naked’ shorts) introduced last September are considered draconian, inflicting inordinate pain on ignorant - sometimes careless but mainly innocent - retail players.

Shanghai in bid to shake off its negative image

After decades of putting up with criticism and ridicule from other parts of the mainland, the largest city has spoken out against its detractors. A survey sponsored by the local government and conducted by one of its affiliated think-tanks lashes out at the stereotyping of Shanghainese as stingy, arrogant and henpecked.

Don’t single out S-chips

Singapore-listed Chinese stocks, or S-chips, as the market calls them, should not be singled out as the problem child of the stock exchange.

Well-governed S-chips urged to speak up for themselves

They will benefit as investors gain confidence to buy into their stocks

White-collar job market picking up on mainland

The mainland’s white-collar job market is bottoming out amid the global economic crisis, with hiring picking up in certain sectors, say experts.

Flyers with Lee Bee Wah’s face printed on toilet bowl pasted at BBQ pit outside Nee Soon South RC

A tricky derivative for the market’s ups and downs

Alan Alanson deciphers the callable bull/bear contract in the first of a new series as Road Warrior takes a break

Confessions of Chinese Derivatives Deals Part 2

In this second instalment in a series, a former investment banker describes a conflict of interest at banks that threatens clients.

Tiananmen Now Seems Distant to China’s Students

Few students had to puzzle over the meaning. Youth Day, on May 4, commemorates a 1919 student protest against foreign imperialism and China’s weakness in resisting it. Seventy years later, in 1989, students from Peking University were again massing in the center of Beijing, demanding democracy. The student movement shook the ruling Communist Party to its core and ended with a military crackdown and hundreds of deaths.

Growing interest among investors in Contracts for Difference

There is a growing interest among investors in Singapore in Contracts for Difference (CFDs).

Graft-buster calls for cadre scrutiny

The Communist Party has underlined the importance of combating corruption through stricter regulation of the appointment of officials - the root of the problem.

4 senior cadres helped to pen June 4 memoirs

Veteran officials persuaded Zhao Ziyang to use audio tapes

Zhao wrote book as a ‘historic gift’ to China’s future generations

Du Daozheng, 85, helped preserve Zhao's memoirs.

In his memoir, Zhao confesses that political reform had not occurred to him during his political career, but after years of contemplation, he believed that only parliamentary democracy could help China develop a healthy and modern market economy.

S-chips gain weight as market powers ahead

Fewer margin calls now but the trick is to separate winners from black sheep

Little cheer, few surprises on S-chips’ earnings front

95 China-based firms’ combined net profits slump 52%; analysts wary of more weakness

Governance: S-chips not inferior to small caps

S-chips have been the epicentre of recent corporate scandals but they are not inferior to other small caps when it comes to corporate governance, a study shows.

Coal Mine Tragedies and a Veil of Silence

The use of media gag fees to conceal coal mine accidents is at the center of a reporter’s corruption trial in Hebei Province.

Billionaire Li Tells Investors to ‘Be Careful’ on Stock Market

Billionaire Li Ka-shing, who warned of a bubble in China’s stock market months before it plunged, said Hong Kong investors should be cautious about buying shares after the benchmark index surged 52 percent since early March. The comments from Hong Kong’s richest man yesterday follow his March 26 statement that investors with cash should consider buying equities and real estate. The Hang Seng Index has surged 22 percent since then.

Spoil a child, mess with its maturity

Spoiling toddlers can possibly defer their development, according to the authors of a local survey on toddler health.

As the VIX Continues to Drop, Is S&P at 1,000 Far Behind?

“I almost see (the low volume) as a positive because it shows there’s not overwhelming optimism in the market. That means its’ not being overdone,” says Schaeffer’s Sparks. “Not everyone is buying in yet and not everyone is on the bandwagon That’s part of the reason why (the rally is) so sustainable.”

Foreign Institutional Investors See A-Shares as Overvalued

Foreign investors deem the price to earnings ratio amongst companies listed on the Shanghai exchange too high.

China Grows More Picky About Debt

Leaders in both Washington and Beijing have been fretting openly about the mutual dependence — some would say codependence — created by China’s vast holdings of United States bonds. But beyond the talk, the relationship is already changing with surprising speed.

Mainland tightens rules to stop misuse of loans

Mainland’s banking regulator is tightening rules to prevent the embezzlement of bank loans after a huge burst of lending was unleashed to support the economy, domestic media reported on Wednesday.

Next Crisis Will Be in Currencies: Jim Rogers

been printing money, giving the appearance of massive government intervention to weaken their currencies, legendary investor Jim Rogers, chairman, Rogers Holdings, told CNBC Wednesday.

Irish priests beat, raped children

Priests beat and raped children during decades of abuse in Catholic-run institutions in Ireland, an official report said on Wednesday, but it stopped short of naming the perpetrators.

Hu intolerant of graft in PLA, analysts say

President Hu Jintao’s warning against “hedonism and individualism” among the military’s top brass reflected his intolerance of rampant corruption inside the People’s Liberation Army, military analysts have said.

Secret donor gives $40k monthly to Buddhist Lodge

Mr. Lee Bock Guan, chairman of the Singapore Buddhist Lodge, a temple in Kim Yam Road, showing the monthly donations received from an anonymous donor. The money is usually dropped off in the temple kitchen, which dishes up over 1,000 free meals daily.

Backdoor Listings: Sweet Market Poison

Loosely regulated backdoor listings are promoting speculative behaviour and hobbling reform efforts on China’s stock markets.

Count cash, feel good, study finds

Counting money - even if it’s not yours - makes you feel good subconsciously, according to a joint study by mainland and US psychologists.

Team Temasek needs to start scoring

Sound strategy not enough if players don’t adapt to shifts in the game

Bloggers frustrated as Beijing blocks Google service

Blogger.com, Google’s free blog service, has been blocked by mainland authorities since late last week and thousands of users have complained.

Auditor landscape gets more varied

BT study of all listed companies shows Big 4 still rule but smaller firms carve niches

Client acceptance becomes more stringent

Rising risks cause some audit firms to not take on new clients unless they already know them

Mainland Investors Knock at Taiwan’s Door

In a warming process unimaginable a few years ago, the Taiwan Strait is slowly becoming a two-way street for investments.

‘Please come back to China, WE WON’T EXECUTE YOU’

Beijing promises lighter sentences to get corrupt officials home

BEIJING: ‘Please come back, we will not kill you.’

Pansy Ho ruled unsuitable by US casino watchdog

Casino regulators in the US state of New Jersey have ruled Pansy Ho Chiu-king an “unsuitable” partner in MGM Grand Paradise, her US$1.25 billion Macau joint venture with MGM, following a four-year investigation.

Zhao’s memoirs sell out before official release

The memoirs of ousted Communist Party leader Zhao Ziyang sold out in Hong Kong bookshops before the official release date yesterday.

Oei Hong Leong loses $1b, takes Citigroup to court

Businessman claims bank gave him an inaccurate picture of his trading exposure

Play this as a V-shaped recovery for now

There’s nothing like a wild stock market rally to fire the imagination, stir the senses and get analysts talking about green shoots, V-shaped recoveries, virtuous cycles and the birth of a new bull market.

New Strategies for China’s Energy Quest

In a sign of changing times, Chinese oil firms are busy cutting global deals with resource-rich countries and western companies.

Obama sends strong message to Beijing with envoy’s appointment

US President Barack Obama’s choice for ambassador to China seems a natural fit for the job - he speaks fluent Putonghua, has adopted a child from China and has served as an ambassador in Asia.

Working with China

It’s a mistake for America to look China in the eye and only see an enemy. Sure, to characterise that two-way relationship as a blissful friendship would be to transform a willing suspension of disbelief into absurdity. But deep mutual interests can bring two otherwise antagonistic national powers close together in ways that make professions of sincere friendship unnecessary and even redundant. Especially among nation-states, an alliance of mutual interests is generally the best possible bedrock for a relationship. Mutual needs that persist for the foreseeable future trump hot love that lasts only a fortnight.

Ships tread water, waiting for cargo

Concentration of so many vessels along Singapore coast raises accident fears