Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (45880)	10/15/2009 3:54:03 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68168

12:06AM China plans to curb excess steel capacity: report by V. Phani Kumar HONG KONG (MarketWatch) -- China is working on plans to curb excess capacity in the steel industry as it faces a "severe oversupply," Bloomberg News reported Wednesday, citing an industry official. Deng Qilin, general manager at Wuhan Iron & Steel Group, said in an interview China may have detailed plans on how to close obsolete mills, advance mergers and cut the number of iron ore importers by the end of the year, the report added. "We bigger players will surely benefit from such a move," said Deng, also the chairman of the China Iron & Steel Association, according to the report. Wuhan shares were recently up 2.6%, with Maanshan Iron & Steel Co. and Baoshan Iron & Steel Co. rising 1.6% each in Shanghai trading most recent bulletins more bulletins: MarketPulse TUESDAY, OCTOBER 13, 2009 11:06PM China's export decline eases to 15.2% in September by Chris Oliver HONG KONG (MarketWatch) -- China's exports contracted at a slower pace in September than August, indicating global trade conditions may be improving, data showed Wednesday. Shipments fell 15.2% for the month, compared to a 23.4% contraction in August, marking the shallowest on-year drop in nine months. Imports also showed some flattening out, shrinking 3.5% in September on year, compared to a 17% contraction in August. September's trade surplus totaled $12.9 billion, compared to expectations of $15.8 billion. "In recent months, the sequential improvement in export volumes has outpaced improvements in export value, suggesting considerable pressure on export prices," J.P. Morgan's Chairman and Managing Director of China Equities, Jing Ulrich wrote in a note Wednesday. 10:30PM China's Dongfeng recalls 51,813 vehicles: report by V. Phani Kumar HONG KONG (MarketWatch) -- Chinese automobile company Dongfeng Motor Group Co. (HK:317) will recall 51,813 vehicles it sold on the mainland due to a problem in the steering system, according to a published report Wednesday. The recall includes 14,168 X-Trail sports utility vehicles and 33,667 Qashqai vehicles, Dow Jones Newswires reported, citing a statement on China's quality regulator's web site. The regulator didn't say the numbers fell short of the total vehicles recalled, according to the report. The steering problem produces noise when the vehicle makes turns and may make it difficult to control a vehicle's direction in extreme cases, the report said. Dongfeng shares rose 2.3% in Hong Kong recently, unmoved by the recall. 10:18PM Las Vegas Sands sees Hong Kong IPO in November (LVS) by Chris Oliver HONG KONG (MarketWatch) -- Las Vegas Sands (LVS) plans to launch an initial public offering of its Macau business next month, according to a report in the South China Morning Post Wednesday, which cited sources familiar with the plans. The company, whose Macau properties include the $2.3 billion Venetian Sands, is hoping to have a listings hearing at Hong Kong Stock Exchange by the end of this month, and if it gets regulatory approval it will complete the offer within four weeks, the report said. 10:12PM Hong Kong shares rise on energy producers by V. Phani Kumar HONG KONG (MarketWatch) -- Hong Kong shares advanced early Wednesday, shrugging off a weak finish for U.S. stocks overnight, as energy producers Cnooc (HK:883)(CEO) and PetroChina Co. (HK:857)(PTR) climbed on higher energy prices. The Hang Seng Index rose 1.1% to 21,701.55, while the Hang Seng China Enterprises Index added 1.2%, aided by an advance for mainland Chinese shares. The Shanghai Composite was recently up 1% at 2,964.85, also helped by energy stocks.