Daily archives: June 21st, 2016

Shanghai – Hong Kong Connect Stock sees southbound net fund inflows for 38 straight days

As of June 21, the southbound stock trade for the Shanghai – Hong Kong Stock Connect has seen consecutive net fund inflows for 38 trading days, as the market holds higher expectations that the Shenzhen…


FINTS EVENING HIGHLIGHTS (21 Jun 2016)

Chinese enterprises’ overseas M&A totaled $111.6 billion in the first half of the year, surpassing that for the whole of 2015: report Occupational pensions will be allowed to invest up to 30% of their money…


Shanghai-Hong Kong Stock Connect (21 Jun 2016)

Northbound stock trade sees a net fund inflow of 185 million yuan The Shanghai – Hong Kong Stock Connect saw a net fund inflow of 185 million yuan for northbound trade on Tuesday. The Shanghai…


Shanghai Uprosper Asset closes down with 2,000 customers burnt

Shanghai Uprosper Asset Management Limited, a private equity firm, has closed up shop, with more than 400 million yuan owed to 2,000 customers to be honored in limbo, the 21th Century Business Herald reported. A…


Second-tier cities underwent a downward stock-to-sales ratio amid soaring home price

Dominant second-tier cities such as Hefei, Nanjing, Suzhou and Xiamen reportedly saw an upwelling in home price amid dwindling inventories, mainly owing to tightening regulations in first-tier cities. Based on a Jun 20 research report…


Clashes over Vanke’s controversial 45.6-billion-yuan acquisition continue to escalate

China Resources, a centrally-administrated state-owned enterprise and the second largest shareholder (15.24% stake) of Vanke, has stepped up to block the 45.6-billion-yuan restructuring plan proposed by the latter. As the rival sides continue to scuffle…


5-billion-yuan market untapped for banks looking to expand online payments

In 2015, the domestic consumer payments industry reached 2.99 trillion yuan, up 8.73% year-on-year, according to a white paper issued by Everbright Bank recently. Specifically, the convenience payment industry took up 4.42% of the national…


China Stock Market Roundup (21 Jun 2016)

China’s stock market closed lower on Tuesday, with its benchmark indexes diving in the later afternoon trading. By the close, the Shanghai Composite Index lost 0.35%, at 2,878.56 points, while the Shenzhen Component Index shed…


FINTS LUNCH TRAY (21 Jun 2016)

Outstanding amount of margin financing in two exchanges as of June 20 increased 1.883 billion yuan to 835,967 billion yuan PBOC fixed RMB mid price at 6.5656, 52 basis points firmer than the last fixing,…


Tesla targets Shanghai as its China production base

Tesla Motors Inc., an US-based automobile and energy storage company, is allegedly eyeing Shanghai for its production site in Mainland China on an investment worth about $9 billion, making it the largest overseas investment by…


Walmart sells Yihaodian to JD.com in exchange for about 5% stake

Walmart has decided to sell its Chinese e-commerce arm Yihaodian to JD.com (China’s second largest e-commerce giant) in exchange for roughly a 5% stake in JD.com. The deal came just after the world’s largest retailer…


China-made supercomputer surpasses top US counterpart by five times

A China-made supercomputer, the Sunway TaihuLight, has recently snagged the top position for the world’s fastest and top performing supercomputer in a twice yearly ranking of the world’s 500 fastest scientific computers. More significantly, this…


FINTS MORNING BRIEF (21 Jun 2016)

Southbound stock trade has seen consecutive net fund inflows for 37 days straight as the market is looking forward the Shenzhen – Hong Kong Stock Connect to be launched in the near future Diversified ownership…