China’s stocks fell for a fifth day, the longest losing streak in six months, after HSBC Holdings Plc cut its China economic growth forecast and concern grew European leaders will fail to tame the region’s debt crisis.
Yanzhou Coal Mining Co. (600188) plunged 6.5 percent after benchmark power-station coal prices at Qinhuangdao declined the most in more than three years. SAIC Motor Corp. (600104), China’s largest carmaker, dropped to a three-month low after an official with the top economic planner said the government has no imminent plans to introduce more stimulus policies to revive vehicle demand. Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. slid 3.4 percent on speculation this year’s gain was excessive.
“It’s about sentiment and investors at home and abroad are disappointed that policy makers haven’t made much of an effort to stem a slowdown,” said Wang Weijun, a strategist at Zheshang Securities Co. in Shanghai. “The market wants to see more stimulus plans and liquidity.”
UAE leads GCC recovery in attracting capital: Invesco
The United Arab Emirates (UAE) is the key beneficiary of private capital flow into the Gulf Cooperation Council (GCC) region, according to the fourth annual Invesco Middle East Asset Management Study
Thomson Reuters, ICD, launch Islamic Finance Indicator
Thomson Reuters today (21 May) launched an Islamic Finance Development Indicator in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD), the private sector deve
Increased expat ownership of UAE companies remains open to debate
Stalled discussions about the revised companies law will resume next week, the UAE Minister of Economy Sultan Al Mansourisaid yesterday as the ministry aims to push through one of "the most critical