Chinese stock market

8 Stories

US Stocks Track Chinese Selloff; Dow Down 48

Shanghai Comp. loses 6.7% in one session

(Newser) - A staggering 6.7% selloff in the Shanghai Composite spooked US stocks, which stayed low throughout today's session, the Wall Street Journal reports. Analysts note that it’s the second time in 3 weeks US markets have fallen in response to a drop in China—a reverse of the usual... More »

Feds Indict 'Spam King'

Michigan man, 10 others face dozens of charges in stock fraud scheme

(Newser) - A federal grand jury has indicted a Michigan man and 10 others for spamming and stock fraud, Reuters reports. Alan Ralsky and his associates face 41 counts related to using spam to promote little-traded Chinese stocks, artificially driving up prices, and then making a killing by selling the stock. Ralsky... More »

PetroChina Becomes First Trillion-Dollar Company

Wildly successful IPO gives China 5 of world's top 10 companies

(Newser) - In its first day of trading, PetroChina Co. became the world’s most valuable company, hitting $1 trillion in market capitalization after shares nearly tripled to 43.96 yuan from an IPO of 16.7 yuan. It’s now worth more than the entire Russian stock market. Some analysts interpreted... More »

Chinese Markets Surge to Record High

Investors fight off anxiety over US subprime woes

(Newser) - China’s securities markets recovered from Wednesday’s Pan-Asian slump and then some, surging to their third new record this week in today's trading. The Shanghai Composite Index climbed 3.5% and the Shenzhen gained 2.3% after the codependent Nikkei and Hang Seng tumbled Wednesday on concerns about the... More »

China's Stock Market Drops 8%

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... More »

Chinese Stocks Plummet After Trading Tax Tripled

Move aimed at containing market bubble; could trigger serous sell-off

(Newser) - Chinese stocks plummeted today, after the finance ministry tripled a tax on trades in an effort to deflate a worrisome stock market bubble. A week ago, the ministry publicly pledged not to raise the tax. The reversal opens the government to heavy criticism if it triggers a serious rout. More »

China's Stock Market Soars to Record

Greenspan fears a dramatic correction

(Newser) - Despite Alan Greenspan’s warning that the market was due for a correction, Shanghai’s stock market index topped 4000 today. So far this year the Chinese stock market has doubled. Since 2006 it has quadrupled. The main driving force behind the surge has been an odd form of democracy. More »

China Markets Turn on Lucky Numbers

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... More »

8 Stories