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Strategies & Market Trends : Greater China Stocks

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To: Julius Wong who wrote (2222)	7/21/2005 12:37:51 PM
From: henryviii	Read Replies (2) of 8334

julius, are you long on the yaun? >>NEW YORK -- Stocks dropped Thursday as uneasiness over the latest subway attacks in London overshadowed strong earnings reports and China's decision to revalue its currency. While the London attacks appeared to be minor - only one injury was reported - investors took the opportunity to secure their recent gains one day after a record-setting session. China's news that it would float its currency against a basket of other currencies was seen as a positive - possibly giving U.S. exporters more opportunities in China. The move was also seen as a boon to blue-chip companies, many of which have benefited from China's economic boom. Bonds fell sharply, however, on fears that higher import prices could spur inflation. "I think this is definitely, score one for investors, with probably a zero score for consumers," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "It's very unlikely that this will result in higher consumer prices here, but exporters should see some benefit, especially large-cap and growth companies." news.bbc.co.uk

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