Market Madness?

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While the Hong Kong Standard last week reported on “Market madness”, it seems that punters are not too concerned about any bubble being burst. This week has seen new records for China’s A-shares. According to Forbes on Wednesday:

    “The benchmark Shanghai Composite Index closed up 55.57 points or 0.97 pct at a record 5,771.46”

But individual stocks have seen even more eye-watering moves. According to an IHT report:

    “Shares of China Shenhua Energy Co., one of the world’s biggest coal sellers, almost doubled on their first day of trading in Shanghai on Tuesday…Shenhua rose as much as 91 percent after the Beijing-based company raised 66.6 billion yuan, or $8.86 billion, in the world’s largest share sale this year.”

So, what next? Reuters reports that Alibaba will be listing in Hong Kong:

    “Alibaba.com (ALI.UL: Quote, Profile, Research), China’s largest e-commerce company, has won approval from the Hong Kong Stock Exchange for a long-anticipated IPO expected to be worth roughly US$1 billion”.

Expect more frenzied buying. But for how long?

See news sources:

3 Responses to “Market Madness?”

  1. Regional blogs » Market Madness? Says:

    […] anticipated IPO expected to … Оригинал сообщения от Administrator тут…

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  2. Administrator Says:

    It seems that fear of another interest hike is having some impact:

    Rate worries push China stocks down
    Sydney Morning Herald – Sydney,New South Wales,Australia
    IN THE biggest decline for a month, China’s stocks fell on speculation that the central bank will raise borrowing costs for the sixth time this year to curb …

    http://www.smh.com.au/news/business/rate-worries-push-china-stocks-down/2007/10/12/1191696177048.html

    But no sign of a crash just yet.

  3. Archive » China’s Stock Market: Better Than Sex!| China Business Blog Says:

    […] ome other countries, but it didn’t even make the top 10 list in China.” Given the heat in the market over the past year, maybe Google’s list does indeed reflect (a sad sort of) […]

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