Suntech Power Holdings (STP.NYSE) and JinkoSolar Holding Co (JKS.NYSE) became the biggest solar companies to record large impairment charges, as the entire industry faces growing losses from weak demand and price cuts, Reuters reported. Along with other solar panel producers, Suntech faced non-cash, impairment charges of US$482.9 million while JinkoSolar lost US$7.3 million in the fourth quarter. […]
Category: Markets
Five China-based companies have filed with the US Securities and Exchange Commission over the past six weeks for approval to list on the country’s stock markets, an indication that Chinese firms may be returning to American markets after scandals prompted a hiatus last year, Reuters reported. AdChina, China Auto Rental, Cloudary Corp, Newsummit Biopharma and […]
Stock markets around the world posted steep losses on Tuesday, one day after China’s leaders cut the country’s official growth rate to 7.5% from 8%, the South China Morning Post reported. Hong Kong’s stock market fell 2.2% to 20,806.25 on the most active day of trading in over a year. The S&P Asia ex-Japan 200 […]
Chinese premier Wen Jiabao made comments at China’s annual National People Congress suggesting he will throw his weight behind proposals by Guo Shuqing, the country’s securities regulator, to overhaul and liberalize capital markets, The Wall Street Journal reported. “We will improve both initial public offerings and delistings, and ensure better protection of returns on investors’ […]
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Macau gambling revenue up 22%
Gambling revenues in Macau hit US$3.04 billion in February, up 22.3% year-on-year, the South China Morning Post reported, citing government figures. Macau is the world’s largest gambling destination, and one of the fastest growing economies thanks to an influx of gamblers from mainland China. Revenue for 2011 was US$33.5 billion, up 42% from 2010 – though many […]