China’s stock market crash: Liberalisation cannot be fully controlled July 12, 2015 Visiting China last week to discuss finance with regulators, officials and industry people in Beijing and Shanghai was a timely reminder of the country’s economic vitality. All the facts confirm this – China is the world’s second largest economy (probably the largest on a purchasing power parity basis), and it is growing at twice the [...]
China introduces new rules for brokerages to combat stock market rout July 12, 2015 China's regulator for securities has issued new rules for brokerage firms as part of its attempt to stabilise markets following a spate of sell-offs that wiped trillions of dollars worth of value from Chinese equities. Read more: How China has tried to calm stock market chaos The China Securities Regulatory Commission (CSRC) has instructed brokerages to [...]
China tries to calm stock market chaos: As panic grips markets, authorities have unleashed a range of weapons July 9, 2015 China's stock markets are in the midst of a crash, and with panic spreading, authorities have stepped in with drastic measures to prevent a looming disaster. Over the last 12 months the Shanghai Composite soared 180 per cent in a spectacular bull run which came to an abrupt end mid June. Since then, the [...]
US stocks close higher despite bite from Apple – New York Report July 9, 2015 US STOCKS closed higher yesterday after Wall Street found relief in Beijing’s efforts to halt a rout in Chinese stocks, which lifted markets around the world. Shares of Apple bucked the market and logged their first five-day losing streak since January as investors worried that consumers in China might have less money to spend on [...]
China is, isn’t and may not be the world’s number one July 9, 2015 Until the late nineteenth century, China was the world’s largest economy. It lost that status roughly 150 years after the industrial revolution began in the West. After the Chinese economic revolution of recent decades, it is taken as axiomatic that the crown and mantle of the world’s largest economy will return to Beijing – as [...]
International Monetary Fund predicts weaker UK growth in 2015 as lower oil prices and Greek uncertainty take their toll July 9, 2015 The International Monetary Fund (IMF) has lowered its UK growth forecast to 2.4 per cent in 2015, down from 2.7 per cent in April. In 2016, growth will fall to 2.2 per cent, 0.1 percentage points lower than it originally predicted, the IMF said in an update to its World Economic Outlook released today. It [...]
Tech glitch puts US in the ditch – New York Report July 8, 2015 US STOCKS ended sharply lower on yesterday after a hectic day that included market turmoil in China eclipsing Greece’s debt crisis, while the New York Stock Exchange suffered a major outage. Fears that a rout in Chinese stocks could seriously harm its economy pushed the S&P 500 below its 200-day moving average for the first [...]
Alternative finance in Asia: Cambridge’s Robert Wardrop on this exciting, untapped market July 8, 2015 Alternative finance is a growing business in the West. In 2014, UK peer-to-peer and crowdfunding platforms made £1.74bn available to firms and individuals, with growth of 168 per cent in Britain and 144 per cent across Europe. But what does the landscape look like on other continents? Set to be published by the end [...]
July Budget 2015: FTSE rises ahead of George Osborne’s announcement July 8, 2015 After a disappointing few days in the wake of the Greek crisis, this morning the FTSE 100 woke up in a more optimistic mood, rising 0.52 per cent in early trading in anticipation of encouraging announcements from George Osborne during today's summer Budget. Read more: July Budget – Here's what to expect Sterling was 0.23 [...]
Greek drama and mining pull FTSE to six-month low – London Report July 7, 2015 BRITAIN’S benchmark equity index dropped yesterday to its lowest level in around six months, hit by persistent concerns over Greece and a pullback in mining stocks as metal prices fell. The blue-chip FTSE 100 index closed down 1.6 per cent at 6,432.21 points, around its lowest since mid-January. Global stock markets lost ground after a [...]