Wen’s Pledge Spurs Biggest ADR Gain in 4 Months: China Overnight By Belinda Cao - 2012-05-21T21:12:07Z Chinese stocks trading in New York rose the most in four months, led by Tudou Holdings Ltd. (TUDO), after Chinese Premier Wen Jiabao pledged to focus on bolstering growth in the world’s second-largest economy. The Bloomberg China-US Equity Index (CH55BN) of the most-traded Chinese companies in the U.S. jumped 2.8 percent to 93.27 yesterday in New York, the biggest gain since Jan. 10. Tudou, China’s second-largest video-sharing website, surged the most in two months while Youku Inc. (YOKU) gained 11 percent. Renren Inc. (RENN) extended losses as Facebook Inc. fell 11 percent in its second day of trading. China “should continue to implement a proactive fiscal policy and a ... Continue reading →
Chen’s Arrival in Manhattan Ends Strain in U.S.-China Ties By Bloomberg News - 2012-05-21T01:08:30Z Blind Chinese legal activist Chen Guangcheng’s arrival in New York over the weekend ended a standoff between the U.S. and China that strained ties for the world’s two biggest economies. Chen, whose stay at the U.S. embassy in Beijing overshadowed a bilateral summit earlier this month, moved into a Manhattan apartment after leaving Beijing May 19 on a United Airlines flight with his wife and two children. He has a fellowship to study law at New York University. His departure marked the end to an incident that saw China demand an apology from the U.S., whose diplomats shepherded Chen into the embassy after his escape from more than a year of ... Continue reading →
Kyle Bass was one of the handful of hedge funders who made a fortune betting against housing during the subprime bust, and since then he's been stalking his next big "career trade." For years now, his big target has been Japan, a country with a debt-to-GDP ratio of over 200% and a shrinking/aging population. He's convinced that it's only a matter of time before the country implodes in a massive sovereign debt crisis that sends bond yields soaring, while the yen becomes worth less than confetti. Back in early 2010, there was a story about how he took out a mortgage in yen, because he was so sure that it was going to implode, thus meaning he'd get his house for free. Well, it hasn't ... Continue reading →
Chrome-plated Maserati. Beijing. Chunxiu Lu. Saturday, May 19, 2012. 435pm. http://t.co/3qOkpYzW Continue reading →
