FYI
--- On Tue, 8/19/08, Kurniadi Oen <[EMAIL PROTECTED]> wrote:
From: Kurniadi Oen <[EMAIL PROTECTED]>
Subject: [bei-investorclub-jkt] coal and gold
To: [EMAIL PROTECTED]
Date: Tuesday, August 19, 2008, 9:13 AM
dear investors
batu bara ,emas turun harganya
hati2 buat day trader,kl beli saham energy atau precious metal
rgds
adi
Chinese coal companies were down yesterday, ranging from 5% to 10%. Be
careful.....
China Stocks Plunge to 18-Month Low; Gold, Energy Shares Drop
By Zhang Shidong
Aug. 18 (Bloomberg) -- China's stocks plunged, extending an 18-month low, on
concern the government will avoid introducing measures to boost the world's
worst-performing market this year.
Citic Securities Co., the nation's second-biggest brokerage by market value,
fell to the lowest in 18 months after the securities regulator said China will
seek to channel investment by pension funds, insurers and other large
institutions into stocks, without giving details. Shanxi Lu'an Environmental
Energy Development Co. and Shandong Gold Mining Co. led coal and metal
companies lower on speculation the bear market in commodities will deepen.
``There is no confidence in the market,'' said Wu Kan, a fund manager in
Shanghai at Dazhong Insurance Co., which oversees the equivalent of $285
million. ``Everyone is disappointed that the regulator hasn't done anything
concrete to stem the decline.''
The CSI 300 Index, which tracks yuan-denominated A shares listed on China's two
exchanges, declined 134.21, or 5.5 percent, to 2,313.40 at the close, the
lowest since Feb. 5, 2007. About 60 of the gauge's 300 companies fell by the
maximum daily limit.
The measure, which is at its cheapest in relation to earnings since March 2006,
has tumbled 57 percent this year, the most among 88 global measures tracked by
Bloomberg, on concern measures to cool inflation will damp earnings. The
central bank has raised the amount of money that banks must aside as reserves
to a record.
China South Locomotive & Rolling Stock Corp., the nation's biggest maker of
trains, surged on its Shanghai debut today.
Seek Increase
China will increase the size of public investment funds and spur growth of
institutional capital to develop the country's financial markets, signaling it
may accelerate approval of new mutual funds, the China Security and Regulatory
Commission said in a statement on its Web site Aug. 16.
Citic Securities fell 8.7 percent to 16.61 yuan, the lowest since Feb. 6, 2007.
Haitong Securities Co., the country's largest listed brokerage by market value,
retreated by the 10 percent daily limit to 15.19 yuan.
``The regulatory talk is so empty and that doesn't work,'' said Sun Chao, an
analyst at Citic Securities in Shanghai. ``The government should issue some
specific and detailed rules that can guide capital through to the market.''
Shanxi Lu'an Environmental Energy, a coal producer, slid 9.2 percent to 19.95
yuan. China Shenhua Energy Co., the nation's largest coal producer, lost 5.2
percent to 26.79 yuan. Datong Coal Industry Co., the second-largest coal
company by capacity, slumped 10 percent to 14.92 yuan.
Shandong Gold, China's third-largest bullion producer, lost 8.6 percent to
34.06 yuan. Zhongjin Gold Corp., the second- largest, fell 9.4 percent to 29.98
yuan.
Gold Slumps
Gold for December delivery fell 2.8 percent to $792.10 an ounce on the Comex
division of the New York Mercantile Exchange on Aug. 15, as the dollar surged
against the euro, reducing the appeal of the metal as an alternative
investment. The metal fell 8.4 percent last week, the biggest such decline
since February 1983.
The Reuters/Jefferies CRB Index of 19 commodities on Aug. 15 tumbled as much as
2.7 percent to 379.07, the lowest since March 20, as silver, corn and wheat
dropped.
China Southern Locomotive climbed 58 percent from its offer price to 3.45 yuan
after surging as much as 83 percent. The stock had the best trading debut in
Shanghai since Zijin Mining Group Co.'s 95 percent gain on April 25. The
company raised $1.48 billion in a combined Shanghai and Hong Kong Listing.
The Shanghai Composite Index, which tracks the bigger of China's stock
exchanges, fell 5.3 percent to 2,319.87. The Shenzhen Composite Index dropped
5.9 percent to 656.08.
The following stocks rose or fell and the stock symbols are in brackets after
companies' names.
Air China Ltd. (601111 CH), the nation's largest international carrier, dropped
0.69 yuan, or the 10 percent daily cap, to 6.18, the lowest since Feb. 5, 2007.
The carrier posted a 6.8 percent decline in passenger numbers last month as
China restricted travel before the Olympic Games.
Ping An Insurance (Group) Co. (601318 CH), China's second- biggest insurer,
slipped 1.82 yuan, or 4.4 percent, to 40.01. Ping An said first-half profit
dropped 2.1 percent to 9.49 billion yuan, or 1.29 yuan a share, as a slump in
the nation's stock market crimped investment returns.
To contact the reporter on this story: Zhang Shidong in Shanghai at [EMAIL
PROTECTED] net
Last Updated: August 18, 2008 04:57 EDT
