Aug 17 2016
SHANGHAI-China's State Council on Tuesday approved the launch of the long-anticipated Shenzhen-Hong Kong Stock Connect, almost two years after the country opened a similar link between Shanghai and Hong Kong's stock markets.
Parent Dalian Wanda Group, owned by China's richest man Wang Jianlin, offered HK$52.8 per share to buy out the Hong Kong-listed property unit, aiming to take it private before relisting it in China where it hoped to gain better valuation.
He said over the next three to four months, the stock exchange would conduct technical preparations and testing, update regulations and raise investor awareness, and then await the announcement of a launch date from regulators.
Karine Hirn, partner, and Francois Perrin, a portfolio manager at East Capital, hailed the approval and commented that the Shenzhen exchange has "21st century" China stocks that should appeal to overseas instutional investors as opposed to retail investors.
Shenzen's is the eighth largest stock exchange in the world and fourth largest in Asia, based on the $2.3trn market capitalisation of its constituent companies. Another broader trading quota will be dropped for both trading links. "The entry of worldwide investors will cause differentiation among the Shenzhen-listed companies and allow the cream to the rise to the top".
The opening-up of China's financial sector, including the capital market, is an important part of the country's reform and opening-up endeavors and will play a crucial role in improving the sector's worldwide competitiveness and capability to serve the real economy, the premier said.
Omnium gold for Trott - and two more finals for GB tonight
But her efforts took considerable toll and Trott was seen being sick into a blue plastic bag following the race. Hammer finished runner-up, as she did in London four years ago, while D'Hoore had to settle for bronze.
Hillary Clinton's Campaign Responds To Donald Trump's 'Founder Of ISIS' Comment
At his Erie event, Trump seemed to acknowledge he is facing a formidable opponent in Clinton as well as a hard electoral path. Donald Trump says his repeated claims and that President Barack Obama was the "founder of ISIS" was actually just "sarcasm".
United States men's basketball blows by China
The US Team-led by Olympic veterans Kevin Durant and Carmelo Anthony-are the heavy favorites to win the gold medal once again. Olympic men's basketball team began its charge toward a third straight gold medal with a 119-62 rout of China on Saturday.
Nonetheless, Fraser Howie, a long-time observer of China's capital markets, said: "Hopefully this expansion of the [connect] program will mark a new chapter in the market development".
"Under "One Country, Two Systems", Hong Kong is in a unique position to build important connectivity with the Mainland markets and to facilitate the gradual opening of China's capital account", Mr Chow said.
The daily quota under the mechanism will be the same as that under the Shanghai-HK mechanism, or 13 billion yuan (1.96 billion USA dollars) for northbound investment and 10.5 billion yuan for trading Hong Kong-listed shares. But financial shares in Hong Kong fell on Tuesday, pacing sector weakness on the mainland.
China stocks jumped to their highest in more than seven months on Monday, led by property and financial shares, as investors bet that disappointing economic data for July would prod Beijing to unleash fresh stimulus.
But others are less bullish, noting that investor interest for mainland Chinese shares is likely to wane over time.
Aug 17 2016
Russian Federation eyeing oil freeze deal with Saudis
In New York, a barrel of West Texas Intermediate for September delivery rose US$1.25 to close at US$45.74. Alexander Novak says his nation is ready to implement joint measures that will improve the global market.
Aug 15 2016
SpaceX Successfully Launches Japanese Satellite And Clinches Yet Another Sea Landing
This orbit is particularly far from earth, and the rocket must use a lot of energy to get the satellite into place. After launching the Japanese satellite into orbit, the rocket landed on a floating drone ship.
Aug 15 2016
International Olympic Committee disappointed with Hope Solo's "cowards" comment after Rio loss
This loss will haunt Solo for some time. "She's the one who refuses to take ownership for being beaten by the better team". Next up for Brazil is a rematch with Sweden , who they beat 5-1 in the group stages, in Rio's iconic Maracana on Tuesday.
Aug 15 2016
Ebner, USA Rugby fall to Argentina in Olympic opener
He also likes that rugby tackling relies more on wrapping up, which is safer than American football tackling. Hopefully we can get guys like that in the United States of America playing rugby".
Aug 15 2016
Bush Cabinet Secretary Will Vote Clinton, Is 'Afraid' of Donald Trump
Last week 70 Republicans wrote a letter urging the RNC to stop helping Trump and to focus instead on candidates for the U.S. At a rally Friday, Trump recalled the pledge all of the Republican contenders signed to support the eventual nominee.
Aug 15 2016
Local woman victim of flash flooding in Maryland
Jamie Knight had never met the man who initiated her rescue Saturday evening during the torrential rainstorm in Ellicott City . As state and federal leaders toured the damage Monday, one said the water washed foundations away like an natural disaster .
Aug 14 2016
No Man's Sky Game-Breaking Bug Strands Players
The creator of the game, Sean Murray , recently shared some interesting details about how they developed the game. They are introduced to the process at the start of the video game , after being stranded on an unknown planet.
Aug 14 2016
Hakan Sukur Arrest Warrant Issued After Failed Turkish Military Coup
He denies any knowledge of or involvement in Turkey's first coup attempt since 1997, which left 270 people dead. He said officials are now trying to identify state workers linked to the terrorist organisation.
Aug 13 2016
I'm working in the right direction — Jimmy Garoppolo
The unique factor of this game was that the first three touchdowns were all followed by successful two point conversions. ESPN .com's Mike Reiss, citing a source, estimated his recovery time at four weeks .
Aug 13 2016
Cheryl Mills Helped Clinton Foundation While Working for State Dept.
The Clinton campaign said the emails did not relate to her work at the foundation before she became secretary of state. Chagoury, he said, "has had no personal contact with Secretary Clinton or any of her staff since 2006".
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