China's Stocks Have Biggest Tumble in 10 Years

2007-02-27 15:45:33 Bloomberg

China's stocks tumbled the most in 10 years as some investors judged record gains in key indexes as excessive. Citic Securities Co., the nation's biggest publicly traded brokerage, led declines.
"The market's very sensitive as it's been trading at record levels and some stocks are considered overvalued,'' said Fan Dizhao, who helps manage about $1.8 billion with Guotai Asset Management Co. in Shanghai. "Investors are nervous about recent rapid gains and aren't convinced further share-price increases can be sustained."
China Minsheng Banking Corp. led declines by lenders as the central bank raised the reserve ratio this week for the fifth time in eight months, reducing funds available to commercial banks for lending.
The Shanghai and Shenzhen 300 Index, which tracks yuan- denominated A shares listed on China's two exchanges, plunged 250.18 points, or 9.2 percent, to 2457.49 at the close. The measure, which jumped 13 percent in the past six sessions, closed at a record 2707.68 yesterday.
The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, plunged 8.8 percent to 2771.79. Today's tumble was the biggest since Feb. 18, 1997. The Shenzhen Composite Index, which covers the smaller one, dropped 8.5 percent to 709.81. The measure has surged 29 percent this year.
Today's rout wiped out $107.8 billion from a stock market that doubled in the past year. The benchmark has gained or fallen at least 3 percent on 10 different days this year.
'Healthy Correction'
Stocks surged last year after a government plan to make more than $200 billion of state-owned stock tradable revived investor demand and paved the way for sales by some of the nation's biggest companies. The economy, which in 2005 overtook the U.K. as the world's fourth biggest, averaged annual growth of 9.6 percent in the past five years.
"China has gone up so much,'' said Winson Fong, who manages $2 billion as chief investment officer at SG Asset Management in Singapore. "It's not a bad thing to have a healthy correction as it provides an opportunity to correct over-valuations and allow people who have missed out to start buying.''

Yep, its Ok but what if the money is yours!

Huh...population of 1.3 b and 2b travel..????

2007 Two billion people to travel during Spring Festival(Xinhua)Updated: 2006-12-27 14:54
A total of 2.17 billion passengers will travel during the Spring Festival season in 2007, up 4.9 percent from last year's holiday season.
The National Development and Reform Commission on Tuesday said a record 155 million passengers will travel by train, up 4.3 percent, during the 40-day travel peak that will begin on February 3 and end on March 14.
Meanwhile, 1.97 billion will travel by road, up five percent, 28.41 million will travel by water, up two percent, and 19.3 million will travel by air, up 9.4 percent.

China's population reaches 1.307 bln(2006/03/17)

www.chinaview.cn 2006-03-16
BEIJING, March 16 (Xinhuanet) -- China's population had risen to 1.306 billion by November 1, 2005, up 3.2 percent, from the figure on November 1, 2000 when the Fifth National Population Census was conducted, the National Bureau of Statistics reported on Thursday.

can somebody explain this to me.....( I am an engineer with an MBA and 3rd year math)

Old Town Dali

The Dutch means "for the most beautiful cuts in Dali you must go to Harry and it is not expensive" ----but HARRY doesn't speak DUTCH maybe a little English; I know I asked him!

Church, Old town DALI

Murual in Dali trainstation

Old town DALI

My favorite town in China

chinese spring festival

Picture from
http://www.chinadaily.com.cn/html/special/2007photofestival/index.html

Ancient City Wall -Chongwu

Chongwu (2 hours south of FuZhou by bus)

Chongwu (south of FuZhou)

Stone characters tell the story of ancient tales and warriors!!

Summer Palace

I am back, just moved [yet again] I move every year/two years..... This pictue was taken at the summer palace, 2004

Changchun, Last Emperor's Palace

The last Emperor was the "pupper ruler" but he was a lonely man and he really wanted to swim but couldn't because the emperor couldn't "expose" himself but doning off his clothes for a swim suit. So, although he had a swimming pool, he couldn't use it. PITY

Shanghai...then and now.....

DaLian Beer Fest

Haérbin, North China

18-brooks at FuZhou

My favourite spot in China

internet going fine