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Shares in China's fifth largest bank, Bank of Communications, surged a stronger-than-expected 80% on their Shanghai debut yesterday, indicating that investor fervour in China's stock market, especially for newly issued shares, may have gone too far, analysts said.
China Southern Airlines Co, the country's second biggest airline, will buy 10 Airbus SAS aircraft valued at as much as US$1.8bil, helping the European company to narrow the gap with Boeing Co in the world's fastest growing aviation market.
The Nikkei Stock Average of 225 issues fell 53.17 points, or 0.47 percent, to 11,217.45 points Tuesday. The index lost 29.43 points, or 0.26 percent, on Monday.
MALAYSIA is expected to keep its currency peg through 2005 as the ringgit's undervaluation is small and China is unlikely to undo its peg, Mayban Securities said.
THE shortage of liquidity in the inter-bank market in China has sparked off a fear of “monetary famine”.
Federal Reserve Chairman Alan Greenspan's first day of semi-annual testimony to Congress didn't show much of a change in the central bank's policy intentions, but it helped inspire choppy trading that eventually left the dollar little changed to lower