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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (259)	8/10/2003 10:39:29 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Buffett, Vanguard Spur China-Stock Rallies in H.K., U.S. Aug. 11 (Bloomberg) -- Chinese stocks traded in Hong Kong and the U.S. are among the world's best performers this year. Chinese stocks traded in the mainland's biggest markets are among the worst. The disparity reflects demand on the international markets from investors such as Warren Buffett and Vanguard Group, who have chosen them as the best way to profit from the world's fastest growing major economy. Buffett's purchase of a stake in PetroChina Co., the country's second-biggest oil company by sales, disclosed in April, prompted ``investors to re-evaluate these companies,'' said Wu Huimin, a senior fund manager at State Street Global Advisors. Vanguard now has a similar-sized holding in China Petroleum & Chemical Corp., China's largest oil company. Earnings reports from companies such as China Petroleum, known as Sinopec, later this month may prompt further review. Mainland companies with shares listed in Hong Kong will report an average 40 percent increase in first-half earnings per share, according to Credit Suisse First Boston. Many of these companies also trade in the U.S. market. ``There's still room for positive surprises on earnings,'' said Wu, whose firm manages $750 billion in assets worldwide. quote.bloomberg.com