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Betting on China’s Stimulus Plan
The Chinese government is hoping that a $586 billion stimulus plan will be able to kick-start its economy.
Despite the International Monetary Fund forecasting China’s GDP growth to finish in a healthy range of 8% to 10% in both 2008 and 2009, the Shanghai Composite Index has been punished along with the rest of major global exchanges this year. The index has lost nearly two-thirds of its value since the beginning of the year.
The iShares FTSE/Xinhua China 25 Index (FXI), an ETF that tracks 25 of China’s largest companies, has been thrown for a 54.4% loss year-to-date. The fund has…
12Nov2008 | Oxbury Research | Comments Off | ContinuedIn Major Shakeup, China’s Govt. Melds Six Largest Telecoms into Three
There are three new kings in China’s $100 billion-plus telecom kingdom: China Telecom Corp. Ltd. (ADR: CHA), China Network Communications Group Corp. Ltd. (ADR: CN) and China Mobile Ltd. (ADR: CHL).
Not surprisingly, all are state controlled.
But now that the first two have more assets, the up-to-now dominant China Mobile faces increased competition and a more-level playing field.
The government of China announced this major shakeup in the country’s burgeoning telecommunication industry over the weekend. It’s a massive restructuring that’ll fold the country’s top six telecom companies into three, and possibly open the way to windfall profits for wireless-equipment providers.
“Everyone has been…
28May2008 | Money Morning | Comments Off | Continued
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