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New China funds approved for SG
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Hulumas
Supreme |
19-Mar-2008 12:37
Yells: "INVEST but not TRADE please!" |
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Dear Louislauwm, Yes, it can. As long awaited QDII would inevitably go into market in China listed stocks at its first priority into US, UK, HKSAR and Singapore, generally in my opinion should be invested in Big Blue Chip/Large capital China listed stocks, Mid. and Large Cap. China Listed stocks, Mid. and Small China listed stocks, and Small and Penny China listed stocks respectively and accordingly to the general characteristic of its market capitalization in each different countries presumably!!! |
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limpeh
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19-Mar-2008 12:15
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China B-shares end morning higher on overseas gains, yuan strengthSHANGHAI (XFN-ASIA) - China B-shares ended the morning session higher following strong gains on overseas markets and as large property developers such as Vanke were lifted by the yuan's strength, dealers said. The Shanghai B-share Index ended the morning up 14.01 points or 5.69 pct at 260.39 on turnover of 284.81 mln usd, while the Shenzhen B-share Index was up 26.51 points or 5.34 pct at 523.01 on turnover of 246.35 mln hkd. The FTSE/Xinhua China B 35 Index was up 486.19 points at 8,501.88. (1 usd = 7.06 yuan) ivy.cheng@xfn.com - xfnic/xfnrc COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. China A-shares end morning higher; bank reserve hike shrugged offSHANGHAI (XFN-ASIA) - China A-shares finished the morning session sharply higher led by banks and property stocks, with the latest monetary policy tightening moves largely shrugged off, dealers said. The central bank said late yesterday that it will hike the bank reserve requirement by 50 basis points to a record 15.5 pct, effective March 25. Analysts said the reserve requirement increase reduced expectations of an interest rate hike. The benchmark Shanghai Composite Index ended the morning up 130.11 points or 3.55 pct at 3,799.01. The Shanghai A-share Index rose 136.18 points to 3,986.96, while the Shenzhen A-share Index was up 56.42 points at 1,195.60. The FTSE/Xinhua China A 50 Index was up 597.07points at 14,302.20 and the FTSE/Xinhua China A 200 Index rose 471.02 points to 11,011.97. (1 usd = 7.1 yuan) allen.shu@xfn.com - xfnals/xfjamesa COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. |
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StarLine
Senior |
19-Mar-2008 00:36
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Sounds good !! 
At least, China stocks listed will have a higher bottom. Wonder does that means for all China stocks listed in SGX, or only certain ? If so, which are the ones. |
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178investors
Veteran |
18-Mar-2008 15:44
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good ... however, not enough to excite the market. would be wonderful if it's 1trillion-dollar solely for singapore market. |
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louislauwm
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18-Mar-2008 15:35
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so can this consider a good news for china stocks listed in SGX? |
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limpeh
Member |
18-Mar-2008 15:15
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SHANGHAI (Dow Jones)--China''s Fortune SGAM Fund Management Co. has received approval to launch a mutual fund March 24 to invest in foreign-listed Chinese shares, the fund said in a statement late Monday. The new fund, which would mark China''s sixth Qualified Domestic Institutional Investor mutual fund, will have an investment ceiling of US$3 billion for Chinese shares listed in Hong Kong, Singapore and the U.S., a Fortune SGAM official said Tuesday on condition of anonymity. Under China''s QDII program, approved brokerages and fund management companies can raise money in yuan or foreign currencies from institutions and individuals in China for overseas investment. Hong Kong-, Singapore- and U.S.-listed Chinese companies that derive more than half of their revenue from China, will account for 60%-95% of the fund''s allocation, while the remainder will consist of fixed-income securities with a credit rating of ''A'' or higher, mainly in Hong Kong''s bond market, Fortune SGAM said. Fortune SGAM is a joint venture that is 51%-owned by China''s Fortune Trust & Investment Co. and 49%-owned by Societe Generale SA (13080.FR). Fortune Trust & Investment Co. is 98% held by Shanghai Baosteel Group Corp., China''s largest steel maker by output. Separately, China''s official Xinhua News Agency reported Tuesday that Bosera Funds also received approval from China''s securities regulator to invest overseas under the QDII program. -By Joy C. Shaw, Dow Jones Newswires; (86-21) 6120-1200; joy.shaw@dowjones.com (END) Dow Jones Newswires March 18, 2008 01:12 ET (05:12 GMT) |
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