From the monthly archives:
How are the Asians dealingwith our financial mess? With big bucks and bold moves.
The Bank of Japan isn’t worried about the fallout from our financial mess. “I am notconcerned that the recent events will destabilise the financial system in Japan,” saidthe bank’s governor and agreed with the Federal Reserve on a dollar-yen swap agreement worth [...]
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The tainted milk tragedy in China is sickening. 53,000infants have been hospitalized and heads are going to roll.
The first stock to ‘roll’ is China Mengniu Dairy, whosestock lost 60% of its value after its products were found tainted with the industrial chemicalmelamine.
I’ve been interested in China Mengniu Dairy (2319.HK)and am even more so now that [...]
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68-year old Taro Aso is the new Prime Minister of Japan.
Aso will make economic recovery his top priority and thatshould be very welcome news for investors. Talk is cheap so it remains to be seen how effective Aso will be at jumpstarting the Japanese economy.
Japanese stocks are cheap so any economic improvement could be the [...]
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Venezuelan President Hugo Chavez was in Beijing this week and pronounced that his country’soil exports to China could increase to 1 millionbarrels a day by 2012.
That is a four-fold increase from the 250,000 barrels a day it is sending now.
Venezuela hates the U.S. and I suspect China will begetting the oil that used to come [...]
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Goldman Sachs came out with a list of 10 Asian stocks that it expects to double within three years. Here is theirlist.
China Shenhua Energy (China’s largest coal producer)HTC CorpPT Astra International (Indonesia’s largest auto retailer)Axis Bank LtdChina Oilfield ServicesHong Kong Exchanges & ClearingMediatek IncSuntech Power HoldingsTencent HoldingsWant Want China Holdings
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The mass media made a big deal out of Microsoft’s stock buyback announcement. There were two huge Chinese buybacksthe next day, but you had to look hard to find any news coverage of them.
China CoalEnergy (1898.HK), China’s second-largest coal produceris going to buyback 4.05 million shares.
Petro China(NYSE:PTR) announced a 60 million sharebuyback.
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Depositors at the Bank of East Asia lined up for hours to withdraw their money. Iwouldn’t characterize it as a ‘run’ but it is pretty darn close.
S&P and Moody’s both lowered their credit rating for Bank of East Asia from ’stable’ to ‘negative’when it restated its earnings for the first half of this year.
The root [...]
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BHP Billiton CEO Marius Kloppers said nuclear energywould play a “bigger role” in China in the future andthat BHP is “gearing up” to meet China’s uraniumdemand.
“That will take a couple of years, but clearly we are positioning the company to, from our side, participate in thatover decades, not just a couple of years.”
“If the world [...]
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One of the companies I highlighted after my trip to the Beijing Olympics was appliance maker giant HaierElectronics.
Business is pretty good at Haier, who just reported a 77% increase in profits for the first six months of2008.
Haier Electronics had 32% of the market for washing machines in China and 22% for water heaters.
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Last Friday, the Shanghai Composite Index jumped by a whopping 9.4%.
On Monday, it added another 7.7%.
If you’re hoping for a bounce, what market will give you the best bang for your buck?
Hint: it isn’t the U.S. stock market.
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