Daily archives: June 14th, 2016

FINTS EVENING HIGHLIGHTS (14 Jun 2016)

No latest news on the Shenzhen-Hong Kong Stock Connect, said HKEx Chief Executive Charles Li in a news conference China’s six biggest aluminum producers temporarily didn’t reach an agreement on output reductions: the Paper The…


Shanghai-Hong Kong Stock Connect (14 Jun 2016)

Northbound stock trade sees a net fund outflow of 7.61 million yuan The Shanghai – Hong Kong Stock Connect saw a net fund outflow of 7.61 million yuan for northbound trade on Tuesday. The Shanghai…


Industrial Securities under CSRC’s investigation

Industrial Securities, a Fujian province-based Shanghai listed company, said on June 13 in a statement that the China Securities Regulatory Commission (CSRC) has decided to initiate an investigation on it due to suspicions of failure…


Shanghai Disneyland holds three-day opening ceremony

Shanghai Disneyland Resort will begin a three-day grand opening ceremony between June 14 and June 16. During the three-day opening ceremony, a variety of activities will be held, including the world premiere of the Chinese…


China sticks to proactive fiscal policy to bolster economy

China is carrying on its proactive fiscal policies in order to bolster domestic economic growth, according to a report by Securities Daily on June 14. The growth of government’s fiscal revenue dropped from April’s 14.4%…


China ranked 2nd in online advertising revenue: PwC

Generating 15.1% ($23.2 billion) of the world’s online advertising revenue in 2015, China trailed the US as the second largest market, according to a report released by PwC on Monday. The report expects the country’s…


China Stock Market Roundup (14 Jun 2016)

  Shanghai index rises 0.32%, ChiNext index climbs 0.18% China’s stock market closed higher on Tuesday, with its main indexes climbing in the late afternoon trading, as investors are awaiting with enthusiasm MSCI’s decision on…


Cinda acquired 68 billion yuan in bad debts and NPA’s in Zhejiang province

China Cinda Asset Management, a state owned financial institution, has reportedly acquired up to 68 billion yuan ($10.3 billion) in bank debts between 2012 to 2016 in Zhejiang province, according to Hu De, general manager…


Chinese tech giants invest in US Augmented Reality startup

Meta, a US-based Augmented Reality (AR) technology pioneering leader, closed a $50 million series B round fund-raising on Jun 13, involving Chinese tech conglomerates Tencent and Lenovo, networking and telecommunication manufacturer GQY, innovative business investor…


FINTS LUNCH TRAY (14 Jun 2016)

Outstanding amount of margin financing in two exchanges as of June 13 decreased 3.642 billion yuan to 830.979 billion yuan. PBOC will inject 75 billion yuan into the financial system via its seven-day reverse repurchase…


Baidu lowers second quarter revenue forecast

Baidu, China’s leading search engine and internet giant, has set its second quarter revenue forecast at 18.1 to 18.2 billion yuan ($2.81 to $2.82 billion), following a rosier outlook earlier of somewhere between 20.11 and…


Xiaomi entering into banking industry

Xiaomi, the Chinese smartphone maker, is now entering into the banking industry through establishing its first private bank in Sichuan province with co-partners. A wholly-owned subsidiary of the tech company will own a 29.5% stake…


Microsoft to acquire LinkedIn for $26.2 billion

Microsoft offered $196 per share to buy LinkedIn in its biggest-ever acquisition totaling $26.2 billion, representing a premium of 49.5% to the latter’s Friday closing price. The takeover shows that Microsoft is adding tools to…


FINTS MORNING BRIEF (14 JUN 2016)

Looming Brexit vote spurs safe-haven flows into gold and treasury bonds. Premier Li Keqiang said at the 4th round Sino-Germen government consultations that China and EU should speed up the negotiations regarding investment agreement and…