SinoCast China Financial Watch articles

Recent articles from SinoCast China Financial Watch

Closed-End Funds Soar.
January 19, 2009... SHANGHAI, January 20, SinoCast -- Closed-end funds soared last week on rising net asset value and falling discount rate. Morningstar China Closed-end Fund Index gained 6.18 percent last week. By contrast, the Shanghai Composite Index, which tracks yuan-denominated A shares and...

BoCom Pushing Forward Joint Venture with HSBC.
January 19, 2009... SHENZHEN, January 20, SinoCast -- The Bank of Communications (BoCom) is pushing forward a credit card joint venture with HSBC as part of its broader development strategy, according to Zhu Kepeng, director at the office of the board of directors of BoCom. At the moment, the credit card unit...

Foreign Investors Sold Chinese Lenders' Shares in Succession.
January 19, 2009... BEIJING, January 20, SinoCast -- As some Hong Kong-listed Chinese lenders saw their H-shares become tradable since the end of 2008, foreign shareholders of them successively sold out the Hong Kong-traded share of these Chinese banks. On December 31, 2008, UBS sold 3.378 billion Hong Kong...

China 08 Non-performing Loans Fell CNY700bn.
January 19, 2009... BEIJING, January 20, SinoCast -- Chinese commercial lenders' non-performing loans totaled CNY 568.2 billion as at the end of 2008, down CNY 700.2 billion from the year start, with non-performing loan ratio sliding 3.71 percentage points to 2.45 percent, said the China Banking Regulatory...

SDB 08 Net Profit Fall 77%.
January 19, 2009... SHENZHEN, January 20, SinoCast -- US private equity firm Newbridge Capital LLC is scheduled to quit Shenzhen Development Bank (SDB and SZSE: 000001) in 2010. SDB, a city-level commercial lender in China, set aside CNY 5.6 billion provision and wrote off CNY 9.4 billion non- performing loans...