Market roundup - Aug 4
Mainland stocks rose as agriculture producers climbed on the prospect recent floods will boost food prices while alcoholic beverage makers rallied on speculation their earnings will be more resilient in an economic slowdown.
Crude oil declined from a three-month high in New York after equities dropped amid concern the pace of fuel demand may weaken as the United States economic recovery falters.
The central parity rate of the yuan, China's currency Renminbi (RMB), retreated to 6.7783 per US dollar Thursday from 6.7715 per US dollar Wednesday, according to the data released by the China Foreign Exchange Trading System.
The head of China's largest domestic rating agency denied criticism by its western counterparts of practicing populism, while reaffirming the agency's principals of independence, objectivity and fairness.
China's stocks opened slightly lower Thursday with the benchmark Shanghai Composite Index down 0.09 percent to open at 2,636.24.
China's Ministry of Finance said Wednesday that it would float a batch of 10-year book-entry treasury bonds worth 30.44 billion yuan ($4.5 billion ) from Thursday.
Hong Kong stocks rose 92.22 points, or 0.43 percent to close at 21,549.88 on Wednesday.
China's stock index futures closed mixed Wednesday with the contract for August, the most actively traded, down 0.35percent from the previous trading day to end at 2,873.8 points.
Chinese stocks reversed the downward trend of the previous trading day to end higher Wednesday, led by auto makers and gold producers.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, rose 0.24 percent, or 2.37 points, to close at 978.01 points in Wednesday's trading.
China Investment Corp, the Chinese sovereign wealth fund that bought a 9.9 percent stake in Morgan Stanley in 2007, sold $90.5 million of shares in the investment bank on July 30, bringing the total amount divested in the last two weeks to about $558 million.
CIC in talks with Harvard on property funds