| Wednesday, May 30, 2007 |
| Shanghai Composite Index |
| Index Value: | 4,053.09 |
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| | Change: |  281.84 (6.50%) |
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| Monday, May 28, 2007 |
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Despite warnings of bubble like conditions, Shanghai's benchmark CSI 300 index closed up 2.6% on Monday, settling at 4,090.57. This is the first time the CSI 300 has closed above the 4,000 mark.
Last week, former US Federal Reserve chairman Alan Greenspan warned that the Chinese stock market could undergo a dramatic correction. The BBC reports that one of the main factors behind the surge in shares has been a willingness among ordinary people, such as students and pensioners, as well as investors and businesspeople, to buy shares. According to industry figures, 300,000 people a day opened brokerage accounts in China last week. |
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| Friday, May 25, 2007 |
| SSE Composite Index.......Shanghai Composite Stock Index |
| Index Value: | 4,179.78 |
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| | Change: |  28.64 (0.69%) |
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| Thursday, May 24, 2007 |
| SSE Composite Index |
| Index Value: | 4,151.13 |
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| | Change: | 22.58 (0.54%) |
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| Wednesday, May 23, 2007 |
| SSE Composite Index |
| Index Value: | 4,173.71 |
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| | Change: | 63.33 (1.54%) |
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| Tuesday, May 22, 2007 |
| Shanghai Composite Index Hits Another Record |
| The Shanghai Composite Index hit yet another record on Tuesday, moving up 0.94% to close at 4,110.38. |
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| Monday, May 21, 2007 |
| China Markets Shrug Off Rate Hike......Hit New Records |
| The Shanghai Composite Index opened 3.2 percent down from Friday's close but recovered to rise 1 percent and close at 4,072.23, a new record high. The Shenzhen Composite Index climbed 2.1 percent to 1,181.42, also a record. |
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| China's Stock Market Officials Seek To Temper Speculation Without Stifling Economic Growth |
| China's main stock index fell over 3% percent at the opening on Monday following monetary tightening by China's central bank. The monetary moves are the latest actions taken to cool the red hot Chinese markets. Banking authorities are walking a line between tempering market speculation while preventing an overall market crash. The Shanghai Composite Index set a new record high last week at 4,081.426 and is currently up over 50% for the year. |
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| Sunday, May 13, 2007 |
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Van Eck Global has launched Market Vectors-Russia ETF (NYSE Symbol RSX), a new exchange-traded fund (ETF) that is listed on the New York Stock Exchange (NYSE). The fund is the first ETF listed in the U.S. that enables U.S. investors to gain exposure to a broad spectrum of Russian companies.
The new Market Vectors-Russia ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the DAXglobal Russia+ Index (DXRPUS), a basket of the securities of 30 of the most heavily traded Russian companies that have listings on global exchanges, either through an American Depository Receipt (ADR), a Global Depository Receipt (GDR), or local Russian shares. The index, which was launched in March 2007, includes many companies of global prominence, including energy giants as Lukoil, OAO Gazprom, and Surgutneftgaz, as well as utility giant Unified Energy Systems, steel manufacturing firms Mechel OAO and Evraz Group SA, mining firm JSC MMC Norilsk Nickel, and communications firms Mobile TeleSystems OJSC and Vimpel-Communications, and banking leader Sberbank. |
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| Friday, May 11, 2007 |
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| China's benchmark index hit a record high for the fourth consecutive session Thursday as more retail investors poured into the market hoping to profit from its bull run. The benchmark Shanghai Composite Index rose 0.9 percent to 4,049.70. The Shanghai index is up 51.4 percent since the start of the year on flush liquidity, after more than doubling last year. The Shenzhen Composite Index rose 1.1 percent to 1123.17 on Thursday, also a record close for the fourth straight session. "The market could rise to 4,500 in the near term if regulators don't carry out any aggressive cooling measures," analyst Wang Junqing of Guosen Securities said. "Liquidity is overly abundant amid a stock-account opening spree." |
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| Wednesday, May 09, 2007 |
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China's main stock index hit a fresh all-time high after breaking a key barrier of 4,000 points due to the soaring blue chip stocks as investors shrugged off official warnings of a possible market bubble amid soaring corporate profits. The benchmark Shanghai Composite Index, the most widely watched indicator of the mainland's stock market, gained 1.60 percent to end at 4,013.08 points, breaching the psychologically important mark of 4,000 for the first time. That marks a gain of 50 percent so far this year on top of a 130 percent rally in 2006. Blue chip stocks showed strong performances. China Unicom, the nation's second largest wireless operator, jumped its daily limit of 10 percent to close at 6.35 yuan per share. |
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