Daily archives: June 24th, 2016

FINTS EVENING HIGHLIGHTS (24 Jun 2016)

China‘s crude oil inventories in May rose 0.86% MOM: Xinhua OGP Five problems in the “New Three Board” need to be solved urgently, a report by the Chinese Academy of Social Science System said China…


Tianjin ready for 2016 Summer Davos

China’s northern port city of Tianjin is getting ready for the Annual Meeting of the New Champions 2016, better known as the Summer Davos Forum, between June 26 and 28. The three-day forum is expected…


Shanghai-Hong Kong Stock Connect (24 Jun 2016)

Northbound stock trade sees a net fund outflow of 1.82 billion yuan The Shanghai – Hong Kong Stock Connect saw a net fund outflow of 1.82 billion yuan for northbound trade on Friday. The Shanghai…


Baoneng and China Resources teams up to block Vanke’s restructuring

Baoneng Group, Vanke’s largest shareholder, states its objection in a late night announcement to Vanke’s restructuring plan which would push Baoneng back to the second place in terms of shareholding size. The announcement firmly declares…


Brexit drives pound down to 30-year low

As votes from all 382 voting areas have now been tallied, the UK has voted to leave the EU in its June 23 referendum dubbed “Brexit”, by a 52% vs 48% outcome. The narrow margin…


China Stock Market Roundup (24 Jun 2016)

China’s stock market closed lower on Friday, as Britain voted to leave the European Union, sending investors across the world fleeing from risky assets. By the close, the Shanghai Composite Index lost 1.3%, at 2,854.29 points, while the…


Question mark on LinkedIn’s future in China after takeover

LinkedIn is still expected to face a dubious future following its acquisition by Microsoft (see article Microsoft to acquire LinkedIn for $26.2 billion), a deal announced on Jun 13 and expected to be completed by…


China to gain $5.6 trillion by shifting to productivity-led growth model: McKinsey

China could unleash a potential $5.6 trillion in the economy by 2030 if it can switch to a productivity-led growth model, said the McKinsey Global Institute in a report on Thursday. It also points out…


FINTS LUNCH TRAY (24 Jun 2016)

Outstanding amount of margin financing in two exchanges as of June 23 decreased 508 million yuan to 836.891 billion yuan PBOC fixed RMB mid price at 6.5776, 118 basis points weak than the last fixing…


Moody’s downgrades global shipping sector to negative from stable

Rating agency Moody’s on June 22 downgraded its outlook on the global shipping sector over the next 12-18 months to negative from stable, citing depressed freight rates and ongoing oversupply in the market. Moody’s said…


China releases national fitness program for 2016-2020

According to the recently announced National Fitness Program for 2016-2020, the total scale of China’s sports consumption is expected to reach 1.5 trillion ($228 billion) by 2020. The program anticipates that by 2020, more than…


FINTS MORNING BRIEF (24 Jun 2016)

Baoneng Group declares its objection to Vanke’s restructuring plan in a late night announcement yesterday; China Resources echoes Baoneng’s declaration, saying it will pay high attention to Vanke’s insider control and corporate governance Hua Sheng,…