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Wednesday, August 8, 2012, 8:15 AM China bears like to point to flatlining electricity output as proof of the country's sharp growth slowdown, but what if it's just signaling a shift to a more services-based economy? Suggesting China has gone from Indonesia last year to Switzerland this year is "a little bit of a reach," says Michael Parker, not buying the argument. 3 Comments [Global & FX]
Monday, July 9, 2012, 8:49 AM China plans another cut in pump prices - the 3rd in 3 months - according to a report on state-run TV. The reduction is expected to be 6.6-7.2%. Great for consumers, the news will not be welcome at the nation's beleaguered refiners (PTR, SNP), already producing fuel at a loss. 1 Comment [Global & FX]
Friday, June 8, 2012, 11:08 AM China slashes gasoline and diesel prices by the most since 2008 to try and match the recent drop in world crude. The trouble for the nation's refiners is product prices were never allowed to rise commensurately with oil when it was moving higher. Sinopec (SNP) had a Q1 refining loss 16X greater than a year ago. PetroChina (PTR), a near doubling. Comment! [Global & FX, Energy]
Thursday, May 31, 2012, 1:25 AM Chinese stocks will keep rising, with the benchmark Shanghai Composite Index poised to add 15% by year-end as slowing inflation gives the government room to loosen monetary policy and allows for bank lending to pick up, according to Beijing Gao Hua Securities Co, Goldman Sachs' China partner. 3 Comments [Global & FX, Quick Ideas]
Wednesday, May 9, 2012, 7:04 AM China cuts retail fuel prices for the first time since October, catching up to the recent fall in crude oil. The move promises to put more pressure on the country's refiners - Sinopec (SNP) and PetroChina (PTR) - already losing money thanks to negative margins. Comment! [Global & FX, Energy]
Wednesday, March 28, 2012, 8:01 AM Profit estimates for Chinese firms remain "far too optimistic," says SocGen, seizing on the report that Y/Y industrial profits shrank in the year's first 2 months. Among the losers in Shanghai's 2.7% plunge last night: Alum. Corp. of China (ACH) -5.8% and Jiangxi Copper JIXAY.PK) -5.5%. FXI -0.3% premarket. Comment! [Global & FX]
Monday, March 19, 2012, 9:39 AM China will allow a retail gasoline price rise of 6-7% on Tuesday, higher than expectations for about half that amount, and the largest increase in nearly 3 years. The hike should take some pressure off refiners who are getting squeezed between high oil prices and artificially low refined product prices. SNP +1.3%. 1 Comment [Global & FX]
Thursday, March 15, 2012, 7:18 AM Chinese oil giant Sinopec (SNP) will acquire the overseas oil and gas assets of its parent company, a step in the company's continuing restructuring. PetroChina (PTR) has made a similar move with its parent, and gives both companies more "upstream exposure" to the energy markets. Comment! [Global & FX, Energy]
Monday, March 5, 2012, 1:06 PM China's 2012 inflation target of 4% (ahead of expectations for 3-3.5%) suggests Beijing is considering more stimulus as well as an easing of price controls on energy which artificially hold down inflation prints (and destroy refining and electric production profitability). Comment! [Global & FX]
Thursday, November 17, 2011, 1:25 PM Minyanville sees the case of Heineken's (HINKY.PK) foray into China as a cautionary tale for firms thinking about betting big in the nation. The brewer entered the beer market 1988 by buying into the dominant player. Trouble is: Chinese consumers don't like bitter beer, so Heineken's market share fell flat. Could the same consumer peaking process happen to MCD, KO, Pizza Hut/KFC, and other U.S. firms as they pour investments into expansion in China? 3 Comments [Quick Ideas]
Sunday, October 9, 2011, 9:27 PM "The world revolves around money, and it makes its own rules," says the CEO of China's Noah Holdings (NOAH). The company is a seller of wealth-management products, including trusts, which are exploding across the country as capital seeks better returns and businesses in need of credit seem willing to pay anything. The action reminds one professor of the conditions that led to the 1907 panic in the states. A great read about what sounds like a house of cards. 2 Comments [Global & FX, Financials]
Tuesday, October 4, 2011, 11:53 AM Standard Chartered's Stephen Green brushes off concerns of a hard-landing in China, saying authorities have plenty of room to ease policy. Green disagrees with the China-is-overbuilt meme, saying infrastructure projects are still necessary across the country. "China today is Japan circa 1970, not 1989." 1 Comment [Global & FX]
Tuesday, September 20, 2011, 3:41 PM "This is happening now," says Jim Chanos of the property collapse in China. He relates a story from the chairman of Komatsu (KMTUY.PK), who says he is having trouble getting paid for machinery sales there. With the focus on Europe, the story people are missing is the reversal in the world growth machine. 5 Comments [Global & FX]
Sunday, June 26, 2011, 5:45 AM The IEA consulted Saudi Arabia, China and India before it approved the release of 60M barrels of its emergency reserves, the agency's executive director says. Nobuo Tanaka adds that the release is meant to fill the gap in supply until higher crude volumes from Saudi Arabia reach the market. 34 Comments [Energy]
Friday, June 17, 2011, 1:03 PM Contrarians may have interest in the increasing conviction of short-sellers of Chinese shares. One example: in Wednesday trade in Hong Kong, 1/5th of the turnover of Chinese bank stocks was shorted. "The divergence (between bulls and bears) has never been so huge," says an analyst. 1 Comment [Global & FX, Quick Ideas]
Monday, May 30, 2011, 2:46 PM Shanghai's attempt to snap a seven-day slump fails at the last minute. While some economists aren't worried about the recent Beijing-induced drop in growth, others worry deeply entrenched inflation will force China to keep its foot on the brakes for a long time. Comment! [Global & FX]

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Global X China Energy ETF