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Volume I, Episode 41
November 27, 2007
Chinese Stock Prices Melt - Sarkozy Up to Beijing - IPO Updates - Will Trent Lott Lobby for Taiwan?
Sinomania.TV

November 20, 2007

Currency Crisis! Dollars Drained by China, OPEC Continue Down - Inflation

November 14, 2007

Time to Short China's Yo-Yo Market? - Mining In or Out? IPOs - more

November 2, 2007

Oil Shock! Price Problems At the Chinese Pump - Stocks: Where's the Correction?

October 24, 2007

SPECIAL REPORT: 17th Party Congress - Shanghai Bubbles? - Market Numbers

October 15, 2007

China Bull Run Gets New Highs - PetroChina - IPOs - Money - more

October 9, 2007

Chinese Stocks Up & Up - IPOs - Iron & Steel - Pacific Pipeline - more

October 4, 2007

Hong Kong Booms - Commodities, Inflation, Oil at $100 a barrel? - more

September 25, 2007

UAW Tells GM No Jobs For China - Markets Hit 5,500 - China's Auto Industry - IPOs

September 19, 2007

New IPOs Rock Shanghai! But is Resistance Building? A Big Push for Private Equity…

September 10, 2007

Report on APEC 2007 - Energy Security - Markets Update - IPOs in Hong Kong

August 30, 2007

Chinese Stocks Stay Up - Big Bond Sale - IPOs - Upcoming Party Congress

August 22, 2007

China Stock Markets Get Higher But For How Much Longer? - Surprise Rate Hike - IPO Update

August 14, 2007

China Toy Recall - Markets & IPOs - Western Banks Catch Asian Flu?

August 6, 2007

Shanghai Composite Busts Past 4,600 - Beijing Bets on Banks - Chinese IPOs in Japan

July 31, 2007

China Stocks Up Again & Again! - Pussyfooting Around Currency? - Democracy in Japan?!

July 25, 2007

Will Barclay's Turn Chinese? 2Q/H1 Macro Report + IPOs!

July 19, 2007

Food Fight! China-USA sling hash / Peak Oil? / Markets Flat Line...

July 10, 2007

Chinese markets confused? Big IPOs - Chery+Chrysler

June 27, 2007

COSCO - China Mobile - IPOs - Telecom Mergers & Acquisitions

June 21, 2007

New Record Highs in Hong Kong, Shanghai: Will Beijing Put On the Squeeze? - IPOs & more

June 15, 2007

Fundamental Misalignment: US-China currency war - stock markets up & IPOs

June 7, 2007

China Stock Pop - Hot News items - climate change, tainted food...

May 31, 2007

Chinese stock markets hiccup - IPOs - USA-China Trade Gap

May 25, 2007

Report on the 2nd USA/China Strategic Economic Dialogue: Win-Win or When-When? - Market numbers - New IPOs


May 18, 2007

New life for Hong Kong? IPO Update - USA/China summit


May 11, 2007

Will Shanghai end up like NASDAQ or Nikkei? - IPOs


April 30, 2007

Tulips to Dotcom - is Sino Mania the next big bubble?


April 20, 2007

The Heat is on! - IPO Report - Air Pollution in China


April 15, 2007

China markets, IPO update, Beijing Ready for Olympics?


March 30, 2007

China markets up, up, up! Sinomania! goes to China


March 23, 2007

Focus on National People's Congress... Hi-Tech, IPOs


March 17, 2007

China's new investment strategy, IPOs, the Wrap...


March 7, 2007

China syndrome or hong bao bounce? New IPOs... more!


February 27, 2007

China Stock Market Yo-Yo, new IPO issues, the wrap


February 17, 2007

Chinese New Year edition! Will China buy Chrysler & more!


February 9, 2007

The USA-China WTO trade dispute and New IPOs


February 1, 2007

IPOs: New Red Chip — Bubble Burst? — USA-China


January 26, 2007

BUBBLE TROUBLE? — IPOs on NASDAQ — Renminbi Yuan


January 20, 2007

IPOs in 3 hot sectors — BAOSteel — Macro Report


China MARKETS » China WEATHER »
HKEX Hang Seng Shanghai
SSE Shanghai Hong Kong
SZEX Shenzhen Beijing
MUSIC in China: Listen!
 

TRANSCRIPT: The continuing meltdown in Chinese shares prices, French President Sarkozy up to Beijing, and will Republican Senator Trent Lott become a lobbyist for Taiwan?
Sinomania! Volume I Webisode 41, November 27, 2007

Markets Meltdown!
Monsieur Sarkozy Beats Brussels to Beijing.
And an update on IPOs!

MARKETS MELTDOWN

The Shanghai Composite closed below 5,000 on November 22 for the first time since late August and ended today at 4,958.849 off almost a thousand points since the start of this month. My prediction of 4,600 for the index at the start of the New Year is close at hand.

The story is the same for all shares: the CSI 300 closed at 4,800 November 26 back to levels last seen at the end of August. B shares are equally battered: Shanghai Bs closed under 325 Monday wiping out months of gains. ShenZhen Bs ended at 663 at the start of the week taking the index back to early July levels. A more volatile profile has emerged for ShenZhen Bs reflecting the lack of solid fundamentals in the much smaller ShenZhen exchange.

In nearby Hong Kong, the Hang Seng Index recovered well on Monday gaining over four percent to close at 27,626.62 after a sharp slide last week and the index is still well below the end of October peak.

As for the individual investor initiative out of mainland China, Beijing’s man in Hong Kong, Donald Tsang was quoted last week as saying that PM Wen Jiabao told him – Tsang was in Beijing for his annual summit – that the program will move forward “cautiously and pragmatically” (what else would you expect from Beijing?) but gave no timetable. Tsang’s talks in Beijing also gave the go ahead for further Renminbi business in Hong Kong where the Yuan is already circulating as a reserve currency.

MÉNAGE À TROIS?

It’s summit season in Beijing and apart from local dignitaries such as Hong Kong Chief Executive Donald Tsang, the Chinese capital is currently host to an important European Union – China summit. The EU is expected to come down hard on Beijing and try to force the Chinese to bargain over runaway exports, currency appreciation, product safety violations and other politically useful topics.

But before the ministers even assemble at the table, the EU position may be undermined by French President Nicolas Sarkozy’s France First summit with Chinese counterpart President Hu Jintao this Monday.

In a showy signing ceremony befitting two civilizations that revel in theatrics, Sarkozy and Hu revealed commercial deals for France worth tens of billions of Euros. The list of recipients reads like a who’s who of important French state-owned conglomerates: energy giant Areva will sell China two atomic reactors and over a third of its production of uranium pellets, Alstom, Alcatel-Lucent, Suez, Électricité de France, and Airbus will all get big new contracts that will share French technology and create growing bonds between the two countries. Monsieur Sarkozy called China a “great global power” and essentially trumped whatever cards the EU had for its tenth China summit.

IPO REPORT

According to its filings with the US Securities and Exchange Commission, Xinyuan Real Estate Company Limited, incorporated in the Cayman Islands but operating in China, plans to offer 17 and a half million American Depositary Shares representing two common shares priced between $13 and $15 US dollars per ADS. The listing is approved for the New York Stock Exchange under symbol “XIN.” The company hopes to raise around $225 million US dollars. Xinyuan focuses on residential real estate in more developed cities in China with strong growth. Typical property development is Hong Kong style high-rise communities with retail shopping, parks, and even schools.

ChinaEdu Corporation has filed with the SEC in America for an IPO of over six million American Depositary Shares priced at $10 to $12 US dollars each. The listing will be on NASDAQ with symbol “CEDU.” ChinaEdu is the biggest online education service provider in China an area of potentially explosive growth. So one to watch!

China Sunshine Paper Holdings Company wants to raise around $95 million US dollars with an IPO on Hong Kong as soon as December 12. The shares will be valued at $5.75 to $7.45 Hong Kong dollars and the money will be used to expand production of linerboard a more high-end component of corrugated packaging.

Finally, on China’s domestic markets, regulators approved the Shanghai A share IPO of China Shipping Container Lines. Through an offering of almost two and a half billion A shares the company could raise $1.6 billion US dollars.

TAIWAN LOSES A FRIEND BRIEFLY?

Republican Senator Trent Lott of Pascagoula, Mississippi, an almost twenty year veteran of the U.S. Senate and once the Majority Leader, announced unexpectedly that he will resign. Speculation is that he wants to avoid new laws coming into force that restrict former elected officials from becoming lobbyists. When you consider Mr. Lott’s tireless efforts to get his hometown’s shipyards business to build destroyers and submarines for Taiwan it will be interesting to see if he registers as a foreign agent sometime before Taiwan President Chen Shui-bian’s election next spring.

I'll see you next time!

© Sinomania! 2007 All Rights Reserved.

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