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Kateks, does this affect you?!
BEIJING, Jan 23 - China has signed a memorandum of understanding with Singapore allowing approved banks to invest their clients' money in the city state's equities markets, the banking regulator said on Wednesday.
The China Banking Regulatory Commission said it is negotiating similar arrangements with Japan, Germany and the United States.
To date Chinese banks are permitted to invest their customers' money only in Hong Kong and Britain.
The CBRC permitted banks last year to start investing client funds in overseas securities as part of China's Qualified Domestic Institutional Investor programme.
China's currency regulator has so far allocated 23 banks a combined quota of $16.1 billion.
from CIMB today (it seems they are very supportive of this counter, whenever it fell sharply, they will often quickly give assuring report :)
What?s on the table
FerroChina (S$1.46) - Unwarranted selldown
Our recent meeting with FRC?s management suggests that the recent selldown is
unwarranted as fundamentals remain intact. Following the Superb Team Everbright
acquisition, integration and expansion have gathered pace. Share sales by
substantial shareholder, Gold Delta Venture Ltd, should not be any concern. FRC is
expected to report FY07 results in late Feb 08. We believe EPS would come within
market consensus of Rmb0.60. We have cut our earnings forecasts for FY07-09 by
5-16% to factor in slower growth in forward ASPs. Given weak market sentiment, we
have also lowered our P/E target to 7x from 10x, while rolling forward to CY09. This
produces a
wah solid man...
don't pray pray with this one, I tell you...
will dip further, juz wait.
hope to buy below $1.90
heheeee
Dear Hfchang,
What business report are you referring to? Pls share with us. Is it regarding Ferrochina?
Huge vol cause by married deals at 1.905. Idiot, could hv cause panic selling in early trading.
| 09:22:44 | Mid | 1.905 | - | 20,974 | 2,150 |
| 09:22:35 | Mid | 1.905 | - | 18,824 | 200 |
| 09:22:26 | Mid | 1.905 | - | 18,624 | 200 |
| 09:22:26 | Buy Up | 1.92 | - | 18,424 | 3 |
| 09:22:25 | Sell Down | 1.92 | - | 18,421 | 83 |
| 09:22:20 | Mid | 1.905 | - | 18,338 | 3,600 |
| 09:22:13 | Mid | 1.905 | - | 14,738 | 850 |
| 09:22:06 | Mid | 1.905 | - | 13,888 | 6,000 |
| 09:22:03 | Buy Up | 1.93 | - | 7,888 | 5 |
| 09:21:59 | Mid | 1.905 | - | 7,883 | 1,000 |
| 09:21:55 | Mid | 1.905 | - | 6,883 | 1,000 |
| 09:21:48 | Mid | 1.905 | - | 5,883 | 2,000 |
| 09:21:43 | Mid | 1.905 | - | 3,883 | 2,000 |
| 09:21:35 | Mid | 1.905 | - | 1,883 | 1,000 |
| 09:20:00 | Sell Down | 1.93 | - | 883 | 89 |
The volume is huge. It just passed its 200 ema. It is down trending though. Perhaps it is will do a small rally, before dropping further.
We will have to see wed and thu's price and volume to comment on the rally.
Ferrochina has been downtrending for a long time. TA charts still look bearish to me.
However, today's price movement is quite interesting to me. Very large range with extremely large volumes. Some big boys are interested in this counter.
Yesterday, there was a good report on Business Times...