Five bad decide China's difficult to play Euro Savior

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Five bad decide China's difficult to play Euro Savior
Giant Heng network information centre 　2011-09-13

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Greece crisis, European crisis, China will play the message again burst out of euro Savior. However, even if China really such as hearsay, "bulk" buy Italy national debt, suffering from European debt-plagued euro fate still escape the medium and long term decline. The following reasons:

1, to draw lessons from history

The saying goes, to draw lessons from history can be known for them. Chinese aid reports we have been not uncommon in Europe. China had also promised and has bought Greece, and Spain and other European pig state treasuries, now, however, the European pig is also European pigs, and European debt remains obscure.

Year October, Premier and Greece Prime Minister Papandreou for talks. Wen Jiabao said China's State foreign reserves, buy and hold Greece debt, will also be taken to actively participate in Greece the subscription of newly issued bonds. In response, analysts pointed out that China says will actively buy Greece debt, shows support for Europe, Greece signed an agreement with countries such as China will help Greece consumer confidence and economic recovery.

However, now Greece is still not out of the Woods, or even its crisis further aggravated. Data show that Greece yields have exceeded 100%, within 5 years of default probability up to 98% in addition, domestic cash reportedly will only be able to support it to the next month, and all the signs show that China purchased debt did not successfully save Greece.

2, focus Greece

For now, Italy problem may be a focus of the market. We know that at present the most serious problems when the case of Greece, either the yield or the CDS data shows the country has been unable to wean, once the funding strand, amounts to a devastating blow. First sovereign default, the Eurozone’s first exit euro-zone countries sth These "Awards", I'm afraid not Greece be the.

And allegedly Germany and other countries have already started plotting Greece exit options. According to German media reports the other day, Germany's Finance Minister Shuo Hible Greece preparing possible bankruptcy. Germany officials were currently assessing Greece defaulted several cases that include continued to make Greece stayed in the Eurozone or Greece exit and reuse the Drachma.

Although Germany, Angela Merkel said on Tuesday that Europe would do everything possible to prevent Greece defaults, or to withdraw from the euro zone, once will trigger a "domino effect", and the medium term is expected to modify the Lisbon Treaty. "Has 17 Member States of the Eurozone, we have to avoid the disorderly development process in order to ensure stability of the euro. Therefore avoided out of breach of contract is our top priority, because if this happens, the battered more than just Greece. "But some analysts questioned the effect of such confidence shouting out, after the Chancellor also repeated similar remarks.

United States economists pointed out that under the Lisbon Agreement, from a technical level, Greece cannot be divorced from the Eurozone. But if States require left and other countries forced to leave, occurs so that situation is not.

3, the economic and monetary policy

For the euro, that the debt crisis and the enemy is not the only triggered economic concerns and the Steering monetary policy concerns may be far more obvious than the bad debt crisis.

From Germany and France the Eurozone core countries such as economic data, worry Eurozone growth prospects have become a cruel reality. Also, because of such concerns, the European Central Bank policy focus has also been biased towards southern Europe countries facing financial problems, namely, the policy or by a tightening cycle towards the future of the past once again loose.

The European Central Bank (ECB) has chosen to sit on the monetary policy meeting in September, currently the majority of the market analysis is expected, the European Central Bank lowered pointer within the next 1 year interest rate. Once again into the easing cycle in Europe, euro assets faced more downward pressure. Furthermore, officials of the European Central Bank hawks stark's resignation, but also highlights the contradictions within the Central Bank, adds euro selling pressure.

4, the external environment

Not only Europe, early in the global economy is bleak, so once risk aversion in financial markets hold sway. Haven assets such as gold, the Japanese yen have successive record highs. Worth noting is the dollar recently correction at the bottom after a period of time, also went out of the wave the more obvious upward trend. Current dollar index has been above 200-day moving average of the key resistance level, opening up room for further gains.

Risk aversion and rich in the future, the United States job stimulus bill under the background of the horizon, US dollars capital return could bring a wave of medium-and long-term bull market. Euro, assets such as commodities can occur under large amplitude.

5, institution perspective

Due to the bad frequency, international investment banks recently have also lowered the euro future price expectations. Switzerland Credit (Credit Suisse AG) index shows that the EUR/USD may be expected by the market affected and weak.

Citi (Citi) is expected, the euro will fall further unless global growth Outlook has improved, and investors believe that the resolution of sovereign debt crisis in Europe is making continued progress. "For now, the euro fell by reason. This year is likely to fall to 1.3 below. ”

Bank (in Morgan Stanley) Tuesday said prospects because of ECB suppressing the rising income, which may downturn on end of euro currency is expected. The Agency in July said, suffering from Eurozone debt, EUR/USD will drop to 1.36 levels during the year.

http://news.cnyes.com/Content/20110913/KDZ6NI07P8WKA.shtml?c=forex

Singapore shares are up, 2011/9/8 expect the U.S. economic stimulus measures such as firmer 3 days 2011-09-08

The 8th day stock market in Singapore, was firmer three working days. ST Index is the closing price of the previous day 24.770 points (0.87 percent) of high-2856.900. Becomes dominant and the hopes of buying back the world's concerns over the economic outlook economic stimulus package announced tonight that the Obama administration the U.S..

The rise of the 30 stocks that make up the stock index is 15. Neptune Orient Lines of major shipping the national carrier Singapore Airlines, Singapore's leading Genting casino stocks attracted buying easy lead to improved economic growth performance of the leading European manufacturers such as Keppel.

The stock has dropped 8 brands . DBS Group Holdings and a sense of caution to the problem of debt in Europe, Oversea-Chinese Banking, Singapore's three largest banks were sold United Overseas Bank. Stocks flat is 7 brand.

Sinking stock prices in developed countries, emerging strains harbor or refuge

2011-09-08
"The market from here is superior to strain emerging strains are more developed countries." This view is increasing in the stock market. Europe's financial problems smoldering trees, uncertain economic outlook in Europe and Japan. These aspects of low interest rates from already developed countries, large emerging economies is more room for rate cuts have so far advanced to raise rates, it tends to resemble and underpin the economy. Promote diversification than most investors, there is a dilemma tends to spread to emerging strains of turmoil in developed countries. Proceed further whether the emerging shifts. Haven of Funds (Safe Harbor) worries investors are likely to continue seeking.
"Recently, institutional investors from Europe, and the cancellation of a series of Asian equity funds. Would have been affected by financial turmoil in their country. On the contrary, most of the money is flowing into U.S. investment house." Senior Investment Manager of Aberdeen Asset Management Asia, who arrived this week, asked the recent trend of investors said Christopher Wong; the answer came back like this.
The man is responsible for Asian equity operations. Strong reasons to focus on Asia and emerging countries share a lot. Population increased from an average age younger than developed countries, increased consumption is still expected. Developed countries of Europe and America to reverse it can take 5-10 years to rebuild even the government's financial household.

That is seen as favorable long-term economic growth in addition to the differences, but also supply and demand trends seen in the company's flow of funds of funds. Diversification has been stepping up U.S. investors, it is expected to further allocate funds share emerging markets.

U.S. stocks account for 40 percent of the total maximum market capitalization of global equity markets. U.S. investors are investing heavily in domestic assets; "home country bias" has been strong. However, "recently came to a better understanding of the emerging strain. A continued low interest rates in the United States, also receive benefits from currency appreciation against the dollar by investing in emerging countries emerging strain".
In fact, capital inflows and outflows of mutual funds are reflected progress in diversification of U.S. investors. statistics compiled since 2005 in the United States are higher than the annual inflow of funds into the U.S. Stock Fund International Stock Fund. Years the outflow of funds, outflows from the U.S. Stock Fund International Stock Fund is less is more. strategist "The feet are private investors in the United States has raised funds from the entire stock once to avoid risk has shifted to the strains emerging from U.S. stocks over the long term,".

Looking at the movements of stock prices, the composition of the dominant share of developed countries have been receding until early this year. Earlier this year until late last year, the proceeds due to population growth and inflation in the monetary demand of developed countries, developing countries share in emerging countries continue to raise concerns about interest rates and sluggish. In the foot on the contrary, "prices raised even China over the hump. The situation intensified fears economic slowdown worldwide, the firm economy is relatively likely to be rated stocks in emerging economies is also room for rate cuts.
The most troubling for investors is the fact that every year a growing share of emerging strains and correlation developed countries. The rate of monthly stock index correlations of fluctuations in developed countries and emerging economies (24-month basis), the early 1990s was around 0.5. The past few years, it has remained at around 0.9 to 0.8. The correlation coefficient means the exact match because one is strong and works.

Between the lower market barriers, as the proceeds of international diversification of investors, likely to spread to other markets in one market turmoil. Of course, stocks in developed countries, rather than focus on investing in stocks either emerging, operational stability is more dispersed, but will increase the funds, shares also hit emerging markets in developed countries if the share price plummet exempt from.

"If you buy a share of risk assets and then emerging. Asset Management has distributed a report of what customers like. "Emerging stock is not cut by weaving a sluggish external demand slowdown in Western economies. Buy from down another notch, The stock market is growing linkage of diverse assets, including not find a completely safe haven. The dough will safely get through the strategic allocation of funds facing the market every day, it seems to be only for timing of investment.

Securities companies analysis report results arrangement of actuators,
Recent Hong Kong stocks trend again by foreign of pressure and continued lower, Hsi since on September 1 rose near 21,000 points Hou, does not Xiao five a trading day of time, has fell returned to 19,300 points near level, cumulative decreases reached 8%, is about phase is equal to each week fell near 8%, if to annual rate calculation words, a years of loss will reached 98.6%, is a year’s Hou hsi is will fell left new of 1.4% (=0.92^ (0051)), to Hsi now 19,500 points calculation, A year later only down 273 points left, seeing this, Ried believed really to readers ' mind, thinking that I may be wrong by other indicators to be a Hang Seng index, or believe that my "style". Actually, author course know Hsi a year by is now level fell to 273 points of opportunities does not too may, even future 10 years within Hsi to fell returned to 273 points of opportunities also does not too may, especially from past of experience view, Hsi up to one of decreases for 1973 years of that once, but also only fell 90%, and at that time fell main is hsi was fried to Super does not reasonable level, only appears such sharply of fell, to now Hsi of history earnings only 9 times more is, and 2011 forecast earnings more only 10 times , Hsi not much likely fell within a year 98%.
http://hk.biz.yahoo.com/110906/366/4a1jb.html

Greece two banking giant marriage between European markets welcome good http://www.Sina.com.CN network-August 30, 2011, China Securities, Shanghai Securities News

　As Europe's banking issues such as capital ratios and investor confidence problems, Greece out of a heavy positive. Greece's second-largest bank EFG European banks and third-biggest bank Alpha Bank announced on 29th to stock exchange merged. 　In a statement published in the 29th, Alpha Bank and EFG European Bank Board members announced that both sides had agreed on the merger of two banks. Statement said the deal would pass every 5 alpha Bank shares of stock in exchange for 7 shares of EFG European way. According to foreign media reports, the two sides after the merger, the new core-capital ratio is expected to reach 14% at the Bank level. The deal will lead Greece's largest bank. Qatar sovereign investment funds will become important shareholder of the merged bank. 　Greece's Central Bank Governor, puluowopuluosi day, these two bank mergers on the change of Greece in the ailing banking sector is crucial.　By merger news boosted 29th European market main indexes also rose in early trading. As of 29th Beijing time, Greece ASE general index jumped 16.15% banking stocks gainers. Among them, EFG European banks rose 28.48%; Alpha Bank 30%. Financial sector index rose 21.89%. 　Greece stock index soared along with the other countries stock indexes also boosted. As of 29th Beijing time, Germany, and France, and Ireland stock market surging more than 1%; and Italy, and Spain, and Russia stock market rose by more than 2%. At the same time, Greece still efforts to solve the debt crisis. Greece on 26th warned that too few investors if it supported debt swap plan, may give up its debt swap program. Debt swaps are second round Greece important elements of international assistance. Greece said in a formal inquiry in a letter to other Governments, through the Exchange plans to move the existing debt reduction plan to 37 billion euros, must be based on private investors to hit 90% as a condition. 　"This is a tactical action, they want to put pressure on private investors and ask them to participate," Greece a senior banking official said, "to reach the high participation rate target seems to be some 90%.

http://news.cnfol.com/110830/101,1278,10593957,00.shtml

Buffett's $ 5 billion bottom-United States Bank (Bank of America)

August 27, 2011 source: Nanfang daily mobile news

When the market falling back into panic when investment guru Warren Buffett once again stretched out its magic hands.

　　United States time on August 25, the United States Bank announced, Buffett's Berkshire · Hathaway Company will purchase a $ 5 billion worth of United States Bank preferred stock. Buffett's back, from the United States's largest bank, has injected a shot tonic, United States banking shares opened the day at one point rose 25%. However, Buffett bottom-United States banking initiatives, and failed to reverse the decline of New York, US stocks fell on that day. United States lenders to close rose also narrowed to 9.44%.

　　Market participants pointed out that Buffett bottom-United States Bank, and buy Goldman Sachs 2008, partly because after early sharp falls, United States bank shares have a certain appeal; on the other hand, is a manifestation of Buffett patriotic and emotional catharsis, and hoped that through this initiative, weakening United States banks need cash investment as a result of panic.
http://finance.people.com.cn/bank/GB/15522515.html

Stock information" Wheelock (0020-HK) Wu Tianhai: long line of mainland property market remained bullish
2011/08/25 18:29

Finance information centre at the Chinese community of Hong Kong
Wheelock, Vice Chairman of the Wharf (0004-HK) Vice Chairman and managing director Wu Tianhai said, after the privatization of Wheelock real estate, a clear division within the group. Wharf warehouse, Yau Tong, Kowloon, presently held by warehouses after the change of use and sale, the management of rights will be dealt with, while Wharf proceeds will be used to invest in the Mainland.

Income reached 8.7 billion yuan in the first half of this year, reaching target of 95% over, Wu Tianhai said that due to the effects of market regulation, considered the acceptable difference 5%. In addition, believes that since March this year, the company's investment in the Mainland has not slowed, but due to competition, the Government's intention of bidding, launched land of prime numbers, does not meet the conditions.

Wu Tianhai pointed, current views on the Mainland property market development, divergent views. He estimated the property market will be to slow down a few years earlier, still affected by the policy about the short term, but long-term demand is still bullish.
http://www.finet.hk/mainsite/newscenter/FINETHK/0/460977.html

Xinhuanet, Beijing, September 28 2011,(reporters Jiang Guocheng and and Zhu Baoju)-in recent months, under the effect of macro-control policy,

China's economy continues to maintain the momentum of steady and fast development, a series of positive changes in the economic field. At the same time, there have been bearish on China's economic views that they find, in the context of slowing economic recovery in Europe and, Chinese economic growth has begun to slow down, some tightening of small business management environment, high above the price in some cities up and down dilemma, inflationary pressure lingering. These factors suggest that the Chinese economy may be a double dip. With these questions, 28th reporters interviewed the Deputy Director of the State Council Development Research Center of Lu Zhongyuan.

Chinese economy does not "landing"

Lu Zhongyuan said, is expected in 2011 China's economic growth rate will reach more than 9%, is the fastest in the world. Next year, China's economy will continue to be a small correction. Moderate economic growth in China slowed down this year, to control the General level of prices rises, help to promote economic restructuring, reducing energy consumption and emissions, in line with macro-economic control intentions.

Lu Zhongyuan said, according to the trend of reform and opening up more than 30 years of economic growth and fluctuation range projections, China's economic growth trend line is approximately 9% per cent, a reasonable fluctuation range approximately 8% per cent. China has the capacity to maintain annual economic growth rate at this within a reasonable range, avoiding sharp rises, breaking the reasonable interval of upper or lower. The so-called "hard landing" sort of worry is unnecessary.

He said the State Council Development Research Center, research shows that if you increase the intensity of reform, speed up the transformation of economic development, to foster new growth drivers, average economic growth in the next 5 years will still be very high (above 8%).

In he seems, decided China economic development potential of fundamentals has many favourable factors: from demand view, industrialization, and urbanization is fast growth period, to housing, and car for hotspot of residents consumption upgrade continued active, new of regional growth very constantly emerged, investment and consumption demand strong, market scale and swing room for are is huge; from supply aspects see, long-term shortage of funds has becomes comparison plenty, labor total huge of advantage also will continued a time.

Tightening of small business management environment is not a question of monetary policy

Lu Zhongyuan said, surveys and studies have shown that small and micro-enterprises in China is currently the biggest problem is the rising costs coupled with financing problems again, survival and development of these enterprises more difficult. Phenomenon occurred in Wenzhou area, notable.

But in his view, the present small, micro-enterprises encounter problems not caused by the tightening of monetary policy, but because the banking system, capital markets does not adapt to the development of private economy and small and micro-enterprises. For example, due to deficient in China's banking system and capital markets, these companies very small amount of guarantees, loan demand was not met.

"In this context, we must speed up reforms, speeding up financial innovation, strengthen financial supervision and guarding against the risks of the premise, as soon as possible, meeting the needs of small, micro-enterprise development and financing. ”

He said that in the case of 2009 monetary policy easing, there are still financing difficulties of small business issues. The survey also showed that was mainly due to the collapse of some small business bankruptcies caused by these enterprises engaged in non-core business investments such as real estate cover.
http://news.xinhuanet.com/politics/2011-09/28/c_122103111.htm

Black haze Monday reproduced Silver Gold plummeting global $ back to embrace

September 27, 2011
Source: international financial newspaper author: Zhao Yiwen
If the dollar continued to be weak strength, is bound to configuration have a major impact on the global capital, funds will be gradually emerging market withdrawal and return to United States "

On September 26, capital markets, "Black Monday", gold, silver, the stock market continued to plunge, market funds return to United States Treasury bonds and the dollar's "the arms of risk aversion".

The industry said in an interview with the international financial news reporters, due to the long-term fall in the dollar is expected to have major changes, configuration of the Global Fund will also make adjustments the next callback road of gold and silver will continue to, while high prices in the emerging markets assets may be exposed to the massive withdrawal of funds.

Dollar was bullish

Why sell gold, silver and other precious metals at this time? Face this problem different object gives different answers.

"Silver, gold, Platinum and other precious metals are widely used in industrial production and manufacturing production, poor performance if the global economy, market significantly reduced demand signals, producers will correspondingly reduce purchasing, or selling them. "Hainan Hui on a manufacturing-related the situation to the international financial newspaper reporter notes that" when this is expected to agree, gold, silver supply and demand situation is also being broken, prices will collapse. ”

As a market analyst, Hong Yuan securities [14.90-0.33% stock research] macro-policy analyst Deng Haiqing when acceptance of the international financial news reporters were of the view that "funds have found more meaningful than the high price of gold, silver haven, that's not been optimistic about the United States Treasury bonds and the dollar. ”

On September 21, the Federal Reserve has not launched on schedule QE3 but to twist actions, causing outcry in commodity markets. Deng Haiqing pointed out that "QE3 naught against the formation of the expected support, fundamental change in the long-term fall in the dollar expected may occur, plus euro-zone debt crisis will affect the global economy, so hedge funds crazy flock to the dollar. Taking into account the peg to the dollar and commodities, the dollar's rise inevitable collapse in commodities. ”

Silver continues to the "tragedy"?

September 26, Shanghai T+D T+D of gold and Silver were to drop to closed. Shanghai issued a circular gold exchange is on, Baiyin (T+D) contracts close September 23 when seal fell. If, September 26 silver extension deals with directions continue to drop, that achieved three consecutive days fallen appears in third consecutive single.

At press, London spot silver price fixing prices in early trading on Monday as 28.16 USD/oz. As of Beijing 13:24, most active in the New York Mercantile Exchange trading Silver Futures for December delivery fell by 7.21%, $ 27.93 per ounce, hit new low since the end of January this year.

Than gold, industry experts is dimmer silver trend. Chinese Academy of social sciences in economics Ma Guangyuan said in micro-blogging on September 26, "the situation more serious than expected, euro up to now have not come up with responsible programme, lingering at the bottom of the global economy will be greatly extended. But, given the dollar strength, technical adjustments to gold, silver, and in my eyes is the jumping big huyou of God out of trash, headed for $ 25 and under. ”

Emerging markets cautious upgrade

Precious metals prices continued tumbling Monday Asia-Pacific stock markets apparently also "fear God", occurred across the plunge.

Japan's Nikkei index fell 186.13, to 8374.13 points, creates the lowest close since April 1, 2009, or 2.2%. Australia benchmark S&P/ASX 200 closed down 39.3 points, at 3863.9, or 1%. The Shanghai composite index 2393.18, fell 39.98, 1.64%, 2,400-point mark fall; Hang Seng 17407.8, fell 261.03, or 1.48%.

"If the US continued strong from weak, is bound to configuration have a major impact on the global capital, funds will be gradually emerging market withdrawal and return to United States. "Deng Haiqing noted that change on a global scale can also be configured for the money, first of all be discarded is expensive, variety, that is, China's property prices. "In China's stock market, the factors underpinning the market for the better is the export of strong, one is the arrival of the strength of the real estate cycle, and these two factors have been subjected to pressure from domestic and international environment, without powerful external forces and policy support, the a-share basically difficult to rely on their own strength to turn it around. ”

Under the influence of the double uncertainty at home and abroad, the a-share market's cautious mood is all the more strongly, it causes any unfavorable rumors were enough to empty their, perhaps the best example is ping an of China yesterday [34.37-9.58% stock research] collapse. But at the same time, market participants also called on the investors the firm position. Gold securities [12.13-3.12% stock research] Wang Ming, analyst at asset management centre that "2,400 points There ' s no making without breaking, stock indexes after first anti-Yang, October harvest expected." He believes September 29 huzhi volume breakdown 2,350 points, investors can moderate participation in rebound and optimistic about brokers, coal and high elasticity and small time new shares of short-term chaodie.
http://finance.ifeng.com/roll/20110927/4683820.shtml

European stock markets and Wall Street dive. Piazza Affari closes to -4.52%.

2011-09-22

European stock markets and Wall Street nosedive in the wake of the meeting of the Fed that he has expressed pessimism about the u.s. economy. Flies spread among the 10-year Btp and the bund that after passing the 410 points stays below 400 share. Black session for the Milan Stock Exchange, that day he burned 15.3 billion and reduced its capitalization to 316 billion euros, a decline of 4.62% of the All Share index which the photographer complete Pricelist of piazza Affari. With the collapse to surpass the 100 billion share sent up in smoke in the summer black markets: on the eve of the Black Friday of 8 July, the first of a long series, the total value of mercato telematico azionario della Borsa italiana amounted to 430 billion. Ftse Mib, with a reduction of 4.52%, it fell in turn to 13,481 points is the minimum of the year (the worst closure of 2011 are 13,474 points of last 12 September) as well as on the levels of March 2009. Not helped improve the mood of the markets, the index of manufacturing activity in the countries of the Eurozone, which drops to lowest in September from August 2009. For Italy, in counterpoint, comes a good appreciation by the EU Commissioner for economic and Monetary Affairs. Olli Rehn, from Washington, where they are to open the work of the G20 financial, said: "I don't expect that Italy needs emergency loans from the EU and the IMF." If necessary, interventions on the secondary market of government bonds should be able to give relief to Italy, he added.
http://www.online-news.it/2011/09/22/borse-europee-e-wall-street-in-picchiata-piazza-affari-chiude-a-452/

Investors wait for Fed takes high resolution U.S. stocks rose slightly away at 21:50 on September 21, 2011

investors await the Federal Reserve will decide whether to implement more measures to stimulate the economy, the International Monetary Fund predicted that the European banking industry exposure of 2,000 million euros. U.S. stocks opened slightly higher, the Dow Jones industrial average rose 0.13 percent to 11,423.00 points; the Nasdaq composite index rose 0.68 percent, at 2607.76 points; Standard & Poor's 500 index rose 0.18 percent, to 1204.27 points; takes 30 index rose 1.32 in percent to 861.34 points. Crude oil fell 0.64 percent, at $ 86.36 a barrel; gold down 0.56%, to $ 1,799.00 an ounce.

Federal Open Market Committee monetary policy statement will be at 2:15 pm EDT (2:15 GMT) announcement. Since the federal funds rate close to zero, so the situation can not continue to cut interest rates, the Fed may implement other unconventional measures. Some analysts expect the Fed to sell bonds and buy short-term bonds, the purpose is to reduce long-term rates, such as mortgage interest rates.

GFT Global Head of Research and analyst Kathy Lien said, "The market is keen to introduce more incentives to the Federal Reserve, the U.S. economic recovery has stalled, including all persons, including the Federal Reserve that the U.S. economy needed help." ING analysts said Because almost no fiscal stimulus measures may, at present the Federal Reserve is the only savior.

External market:

International Monetary Fund (IMF) released the latest "Global Financial Stability" report, estimated that in Europe the right of creditors under the European banking crisis, the risk of exposure of 2000 billion euros, the risk is rising. The IMF report noted that global financial stability risks the first time since October 2008 picked up, reflecting the recovery trend of the past three years have callback. Financial crisis into the political level, the political differences between countries in the euro zone rescue plan hinder the implementation of medium-term fiscal reform and America's lack of policy mechanisms, policy-makers to take action as soon as possible.

Economic data:

Beijing time 19:00, the U.S. Mortgage Bankers Association (MBA) announced as of September 17 week MBA mortgage purchase index rose 0.6 percent last week, the chain, the former value of +6.3%.

Beijing time 22:00, the U.S. real estate trade association announced in August existing home sales had generally expected 4.7 million units in July the value of 467 million units. [Existing Home Sales (Existing Home Sales) is the U.S. real estate trade associations to receive a monthly summary of research at more than 650 organizations and associations of Realtors and the National Multiple quotation system on single-family homes sales data, which directly reflects the the real estate market boom, to a certain extent affect the market trend. ]

Corporate news:

Deutsche Bank Investment Report released today, to maintain Baidu shares "buy" rating, target price $ 190 h. Baidu management company in Hong Kong today described the recent business trends and answer investors' questions. Baidu's management of the United States and China's search revenue and search volume were compared to show that Baidu is still in the early stages of growth.

According to foreign reports, was forced down the market value of shares has shrunk, the market share of raw material prices and the decrease in pressure, Pepsi may spin off its soft drinks sector, completed 49% of the company's shareholders will reap the benefits. Pepsi shares fell 9.7 percent last year to $ 60.39 per share, Coca-Cola over the same period rose by 22%.

Oracle reported late Tuesday fourth-quarter profit increased, one analyst pointed out that in addition to this performance to investors in the enterprise technology budget cuts could have an impact on the performance of the company's concerns.

Australian brewer Foster's (Foster's Ltd) has agreed to A $ 5.10 per share, a total of 9.9 billion Australian dollars (101.7 billion U.S. dollars) price is the South African Miller (SABMiller) acquisition. Miller South Africa earlier issued a statement that Foster will be paid to the shareholders of A $ 0.3 per share dividend, the Board of Directors has approved the acquisition of Foster's terms, and urged shareholders to accept the offer Miller South Africa .

U.S. independent energy producer Apache Corp (APA) said Wednesday it will be $ 1.75 billion cash acquisition of Exxon Mobil (XOM) in the UK North Sea assets, including Beryl oil and gas fields and related assets.

Microsoft said after Tuesday's closing share dividend will increase 25 percent, from 16 cents per share to 20 cents.

General Mills (GIS) reported first-quarter adjusted results beat Wall Street expectations, the company also reiterated 2011 adjusted profit targets
http://tech.ifeng.com/internet/detail_2011_09/21/9371824_0.shtml

Prada First-Half Profit Jumps 74% on Asia Growth 2011-09-20.

Prada SpA, the Italian luxury goodsmaker that had Hong Kong’s biggest initial public offering this year, said first-half profit climbed 74 percent as it opened more stores and demand in Asia surged.
Net income rose to 179.5 million euros ($245 million) in the six months through July, from 103 million euros a year ago, the Milan-based company said in a Hong Kong stock exchange filing yesterday. That compares with the company’s forecast of not less than 150.7 million euros in its fiscal first half.
http://www.bloomberg.com/news/2011-09-19/prada-first-half-profit-jumps-74-on-stores-asia.html

http://www.bloomberg.com/news/2011-09-19/prada-first-half-profit-jumps-74-on-stores-asia.html

ConocoPhillips reiterated will set up a compensation fund
September 20, 2011 source: Shanghai Securities News "font: small and medium-sized" user reviews

Involvement of Bohai Bay oil spill whirlpool, ConocoPhillips announced yesterday that the company's Board has approved the establishment of a second fund, and will cooperate with China National offshore oil Corporation (CNOOC) or other parties concerned to specifically respond to China's Bohai Bay environmental problems.
Addition, also reiterated previous bulletin content relating to establish separate funds for Penglai 19-3 oilfield of Bohai Bay event caused any damage providing fair compensation. Company says, will assume their obligations to the Chinese people and Government to take such action, and as part of a long-term cooperation with their commitments. In cooperation with the relevant government departments, ConocoPhillips would operate these funds.
Event took place on June 4 and June 17 in the Bohai Bay, leading to total about 700 barrels (115 m) into Bohai Bay and about 2,500 barrels of oil (400 m³) mineral oil-based mud (MOBM) stranded submarine. Platform b fault has been sealed, c wells are permanently blocked and abandoned platform accident.
Conoco said yesterday that the leakage of oil was collected, evaporation, degradation or decomposition in waves and currents to near original levels. Companies in Harbour near the c platform continues to survey and sampling, continue to take stock of the difficulties encountered in mineral oil-based mud residues. This work will continue until the ConocoPhillips, China National offshore oil Corporation and the Chinese Government is satisfied that cleanup has been completed.
"The company is now carrying out of the reservoir pressure relief plan, and taking new precautions to prevent the recurrence of such incidents. As part of a phased recovery plan, the company is also preparing a new marine environmental impact assessment and update overall development program. China National offshore oil Corporation and the Chinese Government, the plan is being implemented under the supervision of the sector. "All about people
http://finance.jrj.com.cn/industry/2011/09/20021511081222.shtml

Geithner warns EU of ‘catastrophic risk’

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European finance ministers withheld an €8bn loan payment to Greece as the US told the continent’s leaders to stop bickering and take decisive action to tame a debt crisis that has brought “catastrophic risk” to financial markets.
In a blunt warning that reflected Washington’s growing panic, Timothy Geithner, the US Treasury secretary, urged European leaders to halt a months-long clash with the European Central Bank. He argued that the EU’s growing reliance on foreign lenders would imperil the bloc’s ability to control its own destiny.

U.S. stock indexes rise after ECB moves

Sept. 15, 2011, 10:05 a.m. EDT , The ECB said it would loan U.S. dollars to euro-area banks to make sure they have enough of the currency through the end of the year, with the central bank saying it would hold a series of three liquidity operations.
http://www.marketwatch.com/story/us-stock-indexes-rise-after-ecb-moves-2011-09-15

September 15, 2011
Data Release: U.S. Industrial Production Expands in August
* Industrial production (IP) expanded 0.2% in August, ahead of market expectations for a flat-line reading. August marks IP’s fourth straight month of expansion.
* Manufacturing, which makes up the lion’s share of the index, expanded 0.5% from 0.6% the month prior. The gain was driven by 1.7% growth in motor vehicles and parts production (a deceleration from July’s 4.5% reading) as well as a 1.3% surge in computer and electronic parts production, the
subcomponent’s best showing since January.
* Capacity utilization edged up to 77.4%, a 1.9 percentage point increase from its level a year earlier but 3.0 percentage points below its long-run average from 1972 to 2010.September 15, 2011
Data Release: U.S. Inflation Reaches 3.8% in August
* Headline CPI rose 0.4%, well beyond the market expectations for 0.2%. On a year-over-year basis, headline consumer prices rose to 3.8% (up from 3.6%).
* Core CPI rose bang on the market’s expectation for 0.2%. Price growth in August brought the year-over-year increase in core consumer prices to 2.0%.
* Energy prices continued their upward trek, rising 1.2% in August following a 2.8% gain in July. Gasoline was up 1.9% in August. Meanwhile, food prices rose 0.5%.
* Apparel prices sustained their recent momentum, rising 1.1% (marking a fourth consecutive +1.0% increase).