China's telecom industry will undergo a reshuffle in the near future as the government is expected to release the long-awaited license for third generation (3G) technology and restructure the major wireless and fixed-line carriers later this year or next year.
Shanghai copper futures rose for the second consecutive day yesterday, but lagged Wednesday's London Metal Exchange gains because of rising stocks in China.
Chain retailers saw fast growth last year, with mergers and acquisitions helping major players to consolidate their positions.
Shanghai's main stock index came sharply off the day's highs yesterday to close slightly higher, underperforming foreign markets because of concern about slowing economic growth and huge supplies of fresh equity.
Shanghai's real estate agents are keeping prices high despite talk of a property slowdown that's stifling homebuyer enthusiasm.
Hong Kong stocks rose yesterday, buoyed by property plays, but trade was volatile as a slide in Shanghai and $19 billion in new writedowns for Swiss bank UBS rattled investors.
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Raymond Zhou
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