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India News:
Dec-01-2007
M&M ropes in Deutsche bank for SEZ:Mahindra and Mahindra's $3-billion special economic zone coming up near Jaipur has roped in Deutsche Bank for a 200,000 sq ft offshore facility. According to the source, Deutsche Bank is setting up their 200,000 sq ft facility at the special economic zone. Deutsche Bank will start their operations by June 1 next year. For the multi-product Jaipur economic zone, called the Mahindra World City, the company has already roped in Infosys Technologies and Wipro, besides its own arm Tech Mahindra, to set up their facilities.
Punj Lloyd bags S$463 contract; The wholly owned subsidiary of Punj Lloyd, Sembawang Engineers and Constructors (Sembawang E&C), one of the largest engineering and construction companies in Southeast Asia, has bagged a major contract worth S$463 million for architectural, civil and structural work at the proposed Bayfront MRT station in Marina Bay in Singapore.
ContinueAnother survey has found that nowadays either in government departments, in government-funded institutions or in state-owned enterprises, the first thing more and more staffers do when they arrive in the office is to switch on computer terminals to obtain market information.
On April 25, the trading volume on both the Shanghai and Shenzhen bourses exceeded 300 billion yuan (US$38.9 billion), setting a daily trading record. In late April, Citic Bank, China's seventh-largest lender, launched its A-share and H-share offerings in Shanghai and Hong Kong simultaneously to raise about $5.4 billion. But on the A-share part alone, mainland subscribers put in some 1.5 trillion yuan ($195 billion) to bid for the lender's shares.
These days, bank branches in China are often crowded with depositors who rush to withdraw their savings for stock speculation. A survey conducted by the People's Bank of China (PBoC), the country's central bank, indicated that a record low of 59.4% of the 20,000 respondents regarded bank deposits as the most important financial asset. Meanwhile, an all-time high of 30.7% believed it pays to invest in the stock market, up 11.7 percentage points over the fourth quarter last year.
With large sums of money flowing from deposit accounts into stock-trading accounts, China's savings deposits are growing much more slowly. According to PBoC figures, the country's yuan savings deposits increased by 1.9 trillion yuan in the first quarter this year, with the growth down by 60 billion yuan on the same period last year.
The continuous inflow of large sums of fresh capital is the major force keeping the Chinese stock markets bullish. The Shanghai Composite Index and the Component Index of the smaller Shenzhen bourse appear to defy the law of gravity, shooting up to set new record highs. Warnings by government officials and experts about the growing risk of a bubble burst are ignored. Beijing's macroeconomic control measures are defied.
On April 29, the central bank announced another increase of the deposit reserve ratio for commercial banks. This prompted Hong Kong's Hang Seng Index to drop about 1% on the second day in a more
Online Trading :
Top 10 Rule of Thumb:
- Do not overtrade.
- Don't trade on rumors.
- Don"t trade in all stocks of one sector.
- One is better to buy the wrong stocks at the right time than to buy the right stocks at the wrong time.
- Trade with the trends rather than trying to pick high and low.
- As long as a market is acting fine, don't rush to take profits.
- Don't buy something because it is low priced.
- Money cannot be made everyday from the markets.
- Prevent making average, when stock is coming down.
- Avoid watch or trade too many stocks at once.
May 9, 2007
HONG KONG - Mass movements are part of Chinese tradition. Chinese people tend to act as a group and, whenever conditions are ripe, they rush to join with someone or some group taking the lead. Hence a "mass movement" can be easily formed. In the 1960s and 1970s, there were the "all people becoming citizen-soldiers" movement and the Cultural Revolution launched by
Mao Zedong.
I
n the era of economic reform and opening up, "mass movements" appear to have become more spontaneous. In the 1980s, there was a time when "all people rushed to do commercial businesses". And now we are witnessing another mass movement: "all people speculating in stocks".
Indeed, as the Shanghai and Shenzhen stock markets keep rising, more and more Chinese citizens join the army of speculators. On April 26, some 325,000 new investor accounts were opened on the single day, pushing the total number to 92.5 million. This means one out of every 14 mainland Chinese (including children and the aged) is now a player. This does not even include those who trade in shares through investment funds.
Considering that 80% of the 1.3 billion Chinese are farmers, it may be safe to say that almost all urban adults are stock investors or speculators.
A civil servant in Guangzhou, Wang, said 90% of the staff in his office bought and sold shares. "During the lunch break, all we talk about in our office is stocks. I have invested 20,000 yuan. With a big surge in the market, I can make more money on a single day than my monthly salary."
A taxi driver in Shanghai said driving a cab has became his "part-time" job, as his "full-time" work is to "speculate in shares". The taxi driver told a Chinese newspaper that he and his wife have a division of labor in the trade. His wife goes to an outlet of a securities brokerage house early in the morning on each trading day. He listens to the radio and give instructions to his wife by telephone to place orders.
. Ten percent of the first-year students speculated in stocks, and the percentage jumped to 80% for fourth-year students. 
