Americas markets wrap: Chile flies almost alone
Only Chile and Mexico kept equity interest alive on Friday with most markets in the US, Brazil and Argentina closed for the Christmas Eve holiday.
Mexican stocks slipped a little in a light and shortened session. But in Chile, share prices staged a minor recovery after falling for the previous four sessions, when retail group Cencosud unveiled an aggressive $1bn expansion plan for 2011. Continue reading »
Christmas with China: Jintao Bells
Happy holidays from all of us at beyondbrics. Next week we’re running a series of guest posts on emerging markets in 2011, before returning to full service on January 4. In the meantime, here’s our contribution to the festive spirit:
After another triumphant year, China invites the global glitterati around for a Christmas party. The guests arrive, and Chinese prime minister Wen Jiabao calls them to attention.
Wen: Ladies and gentlemen, I see you’ve all brought stockings. The problem is that we Chinese have already given you so much over the years: gunpowder, pandas, a visionary economic model…
Japan: …a stray boat captain…
Taiwan: …the threat of invasion… Continue reading »
South Africa: a Bric-tastic invitation
China has invited South Africa to join the Bric group of fast-growing emerging markets – or at least to join one of their meetings – according to reports in Chinese state media on Friday.
South Africa has been dropping not-so-subtle hints about its desire to be part of the group for a while – Jacob Zuma, the country’s president (pictured), said as much on a trip to Beijing in August. Now Zuma’s wish has been partially granted with the promise that he will be invited to attend a Bric summit that China will host next year. Continue reading »
Asia markets wrap: stocks dented by China’s car tightening
Chinese auto stocks plunged on Friday after the Beijing city government announced strict curbs on new car purchases in 2011, providing a flash of definitively bad news for investors in Asia as stocks otherwise drifted lower on Christmas Eve.
In a shortened Hong Kong trading session, Brilliance China, which sells a large proportion of its vehicles in the Chinese capital, fell 7.5 per cent, while Geely was down 6 per cent and Dongfeng Motor plummeted 9 per cent. Continue reading »
New York headlines
* China is ready to fight inflation in 2011
* India raids Commonwealth games chief’s homes
* Vietnamese inflation jumps
* West Africa central bank says Ouattara controls Ivory Coast funds Continue reading »
Further reading: Scroogenomics and defending Santa
From the FT:
From elsewhere:
London headlines
* Lee warns of ‘merciless’ strike if attacked
* Beijing’s housing price fury goes viral
* Emerging-market equity funds post first outflows since May
* Indian Railways to raise freight rates on fuel costs, wages Continue reading »
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