China's Stock Market Soars to Record

Fraud is final straw after terrible performance, analysts say

(NEWSER) - With Bernard Madoff’s long, fraudulent story drawing to a close, stock-market analysts look to the larger effect the $50 billion Ponzi scheme will have on equities, Kate Gibson writes for MarketWatch. Combined with the dismal performance in stocks over the last year, experts say Madoff’s deception has probably hurt the overall appeal of stocks for the 50+ crowd that embraced them for retirement. More»

Port city turning into financial capital

(NEWSER) - Hong Kong is in decline as Asia's premier shipping hub, but the dip in dockyard activity is nothing to fret over, Newsweek reports. The city is on the brink of becoming one of the world's financial capitals—on par with London and New York. Economic shifts are reconfiguring the political landscape as well: a rising middle class is clamoring for cleaner air and universal suffrage. More»

Fear of more government regulations drives rampant selling

(NEWSER) - China's stock market plummeted more than 8% today in one of the biggest drop-offs of the decade. A trading tax increase intended to cool a boom that drove stocks up over 50% last week has set off widespread worry. But unlike the February 28 skid that depressed worldwide markets, today's slump appeared to have little effect on other Asian exchanges. More»

Investors look for windfalls in auspicious stock codes

(NEWSER) - The Journal probes the Chinese practice of picking stocks based on traditional lucky numbers. In a country where middle-class novices dominate the market, new investors snap up stocks with codes that include auspicious 8s, and steer clear of those with ominous 4s. That worries analysts aware of the ripple effect of Chinese trading. "This is a reflection of a very immature market," says a JPMorgan sinologist. More»

(NEWSER) - The Dow rose 30.80 points yesterday, closing above 12800 for the first time. The new record was powered was by JP Morgan Chase, Boeing and Caterpillar, while nearly two-thirds of the Dow components failed to make gains, the Wall Street Journal reports. Tech stocks continued to be weak; the Nasdaq negative. More»