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Stock market today - China stocks Property Shares Rise december 26 2012 : China’s stocks swung between gains and losses as technical indicators signaled equities were overbought after the benchmark measure erased this year’s decline yesterday.
SAIC Motor Co., the biggest
Chinese automaker, dropped for the first time in seven days, losing 3.2 percent.
Industrial & Commercial Bank of China Ltd. paced declines for lenders, sliding 1.2 percent. Developers
Poly Real Estate Group Co. (600048) and
Gemdale Corp. climbed for a third day on speculation the government’s urbanization plan will support housing demand.
The
Shanghai Composite Index (SHCOMP) fell 0.1 percent to 2,211.06 as of 1:12 p.m. local time. The measure yesterday wiped out losses this year of as much as 11 percent and climbed above its 200-day moving average. The CSI 300 Index (SHSZ300) slid 0.1 percent to 2,446.14, led by consumer discretionary companies such as automakers. Hong Kong’s market is closed today for holidays.
“The momentum is still there as the economy continues to recover and new leaders promise more reforms to boost growth,” said Wang Weijun, a strategist at Zheshang Securities Co. in Shanghai. “The market might have some fluctuations at this level but the trend is upward.”
Trading volumes in the Shanghai Composite were 70 percent higher than the 30-day average today. The index has risen 13 percent since this year’s closing low of 1,959.77 on Dec. 3 as the nation’s new leaders said they would promote urban development as part of economic reforms.
The 14-day relative strength measure for the Shanghai index, measuring how rapidly prices have advanced or dropped during a specified time period, was at 72.8 yesterday. Readings above 70 indicate a price may be poised to fall.
High RSI
SAIC slid 3.2 percent to 1642 yuan. The 14-day relative strength measure for the stock was at 85.2 yesterday. The shares have jumped 21 percent over the past month, twice as much as the Shanghai index.
FAW Car Co. (000800), which makes cars in China with
Volkswagen AG, tumbled 4.5 percent to 8.33 yuan. Great Wall Motor Co., China’s biggest pickup truck maker, lost 1.1 percent to 21.99 yuan.
ICBC declined 1.2 percent to 4.09 yuan. Bank of Beijing Co. slumped 2.8 percent to 9.03 yuan. China Minsheng Banking Corp. (600016), the nation’s first privately owned bank, slipped 0.9 percent to 7.68 yuan. The stock closed at a four-year high yesterday.
China’s money-market rate climbed on speculation banks are hoarding cash to meet year-end capital requirements and holiday withdrawals. The seven-day repurchase rate, which measures interbank funding availability, rose 13 basis points to 3.85 percent as of 11:54 a.m. in Shanghai, according to a weighted average rate compiled by the National Interbank Funding Center.
UrbanizationThe Shanghai Composite, up 0.4 percent this year, trades at 10.8 times estimated earnings, compared with 12 times for the MSCI Emerging Markets Index, according to weekly data compiled by Bloomberg. Thirty-day volatility in the gauge was at 20.2, compared with this year’s average of 17.
China’s largest cities including Beijing, Shanghai and Guangzhou will limit populations under a new urbanization plan, while smaller cities and towns will loosen controls on residency, the Shanghai Securities News reported, citing an unidentified person.
The country will also improve infrastructure and public services for transportation, communication, sewage and garbage disposal, health-care and education in urban areas, the report said. Urbanization is expected to spur 40 trillion yuan ($6.4 trillion) of
investment by 2020, the Southern Metropolis Daily reported yesterday, citing a draft plan by the National Development and Reform Commission on urbanization.
“Developers are gaining on the government’s call to use urbanization as a new engine for growth,” Gao Jian, an analyst at Northeast Securities Co., said in a phone interview.
Property StocksA measure of
property stocks in the Shanghai Composite climbed 1.3 percent today, extending yesterday’s 4.1 percent jump. The sub-index is heading for its highest close since July 2011 and the biggest two-day gain since Jan. 10.
Poly Real Estate, China’s second-largest developer by market value, added 0.5 percent to 12.90 yuan. Gemdale, the third largest, gained 0.3 percent to 6.42 yuan.
China Vanke Co. (000002), the biggest developer, was suspended from trading pending “important matters,” it said. The company plans to convert its Shenzhen-listed B shares traded in Hong Kong dollars to H shares and list in Hong Kong, the Securities Times reported, citing an unidentified company official.
The statistics bureau is scheduled to release November profit for industrial companies tomorrow. Net income surged 20.5 percent from a year earlier in October, according to the bureau.
Source : www.bloomberg.comFor the latest updates PRESS CTR + D or visit Stock Market news Today
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Since the nations of the world, led by the example of the United States, aboandoned the gold standard, all of them have allowed their currencies to decay at a steady clip. We call it "inflation," perhaps a euphemism. My suggestion, we should call currency destruction what is is, "currency decay."
In brief, this is why the European Monetary Union is failing. Greece has always permitted a rapidly decaying currency, as Greek citizens have a habit of taking long holidays, retiring at 60, not paying income and property taxes, and not even paying for government-provided services, including electricity. Similarly, Spain, Portugal and even Italy are "relaxed" when compared to the more industrious French and German economies.
The following article was originally published on July 15, 2007, so please read this as a historic document. More recent comments are added at the conclusion of the original post.
Readers will also be aware that governments purposely and systematically understate the amount of actual inflation so as to make it possible for debtors everywhere – and governments are the greatest of all debtors – to repay obligations in a devalued currency, thereby enabling the ongoing operations of a debt and liquidity-based economy.
I think you can figure that one out.
The stock market by and large is trading in bubble territory by historic metrics. Real estate in many North American locations is also in bubble territory. Citizens everywhere are borrowing at a record clip and pouring their savings into ever-riskier assets – with today’s fads being hyper-leveraged hedge funds and the privatization of public companies by pension plans and private equity groups.
It is not that the price of gold is rising. It is that we are re-evaluating the worth of gold in terms of the declining value of “paper” (or digital) money.
But until the alchemists succeed – or until nuclear fusion advances far beyond today’s levels of sophistication – so that we can create gold at will from “base substances” – gold and silver will remain stores of value that are essentially impervious to the irresponsible inflationary policies of our governments around the world.
However, in my view, Mr. Armstrong's critique, with its focus on the shortcomings of socialism, goes nowhere near far enough.
Basically, every party and faction that seeks to resolve its issues through government rescue of a particular sector of the economy is equally in trouble, and that goes for the belligerent folks at the military-industrial complex, the Wall Street speculators who live for the next government guarantee, policy easing or bailout, the CEOs and executives who award themselves and their cronies obscene salaries and bonuses, the elected representatives who vote themselves comfortable pensions, and the financially reckless at all levels and strata of society from the poorest to the very rich.
In fact, permit me to restate Mr. Armstrong's words as follows: "Gold has been among the most hated subjects by the financially irresponsible at all levels and in every sector of society, because with each dollar that it advances, it reveals the delusion that they seek to live within."
Faber states: 
"I wouldn't be surprised if, in another eight years - in 2017 - the yellow metal fetches $5,000 an ounce or more which, by my math, would make it a better buy. Gold may not rise as much against other currencies, but, after almost a decade of trillion dollar deficits, that almost seems like a slam dunk when the measuring stick is the U.S. dollar."
Nonetheless, here is Rolfe Winkler's take on Grice's idea.
An esteemed historian in his own right, Adrian Ash explains: "Hutchinson sees a repeat of 1978-1980 now unfolding, with the price of gold vaulting to perhaps $5000 an ounce by the end of next year."
13 January 2011: Today is my father's birthday, so I dedicate this post to him.... There is now so much material on this topic, I hardly know where to direct you. But for an overview, one diligent researcher has gone to the trouble of tracking down every known gold price prediction (and here I'm discounting those looking for $680 gold in 2014. That is NOT going to happen through any conceivable course of events - apart from the synthesis of gold in a fusion reactor or the earth's collision with a golden asteroid!).
15 February 2011: The current SGS (Shadowstats) inflation-adjusted price for gold's previous 1980 peak value (based on gold's $850 close vs. its $887.50 peak intraday price) is now... get this, $7824 per troy ounce (courtesy of The Dollar Vigilante). And, of course, as inflation increases towards, let us say 2019, we are likely to move above not only an $8000 figure, but quite realistically, a $10,000 figure as well. Caveat: If Ron Paul can tame the Federal Reserve, this could all evolve differently. However, my best guess is that we will require greater crises than we have so far seen (the 2008 crash included) before the populace can be moved towards financial sanity. My prediction - we will require repeated shocks over the better part of the present decade before we come to our senses about money-printing and debt repayment.
15 May 2011: Robin Griffiths of Cazenove, according to Eric King, "one of the oldest financial firms on the planet," is widely believed to be the appointed stockbroker to Her Majesty The Queen.
22 April 2012: The presently linked article by Stephen Bogner is truly definitive on the topic of where the gold price has been and where it is going. Mr. Bogner gives full consideration to the SGS inflation estimates, which I have often cited.
Mr. Bogner believes we are now on the verge of the most significant upward breakout yet in the gold price, and his arguments are compelling. In brief, this is a very important and very recent article. Read "The Gold Megatrend" here.
Note that another year has passed, and we are now looking at a previous inflation-adjusted 1980 high gold price of $9000 per ounce. It seems that the only remaining question is whether we are facing escalating inflation that can be contained by policies similar to those used by Paul Volcker in 1980, or whether we are on the eve of hyperinflation, in which case a $9000 gold price would be meaningless (it would rise much, much higher, but in this case, because of the final destruction of the currency in which it is valued).
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Perhaps you have heard the recent discussion about printing a trillion dollar platinum coin to pay off debts incurred by the United States government. Paul Krugman and a cohort of others are promoting the idea, which has been well-covered by Business Insider: click here. The US Treasury Secretary may be permitted to do this by law, and it's a way to get around the anticipated and potentially rancorous debt ceiling debate.
As all major world governments are now essentially just printing money to cover their excessive expenditures, and the US central bank specifically is printing new dollars to purchase government treasuries, a reader pointed out that the same central bank which is purchasing essentially worthless government bonds could legally print inherently worthless money to purchase inherently valuable gold, so as to increase the store of real assets in that country's treasury.
