Bull run
Bull run: China Life employees celebrate the firm's successful listing on the Hong Kong stock market in December. Thanks to the roaring economy on the mainland, H shares of Hong Kong-listed mainland firms met overseas investors' frenzied demand.

CEPA provides greater funding channels
The Mainland/Hong Kong Closer Economic Partnership Agreement (CEPA), signed late last year and implemented on January 1, will create more funding opportunities for the Chinese mainland's enterprises, suggest experts.

Foreign investors to remain cautious
Analysts suggest foreign investors are likely to remain cautious about investing in China's Big Four State-owned commercial banks, even though regulatory approval allowing such deals looms following a bold move by the government to infuse US$45 billion of its foreign exchange reserves into two of the banks.

Listings to be more transparent
China's stock market regulators - amid concerns that murky issuance dealings will result in the proliferation of unqualified firms - will redouble their efforts to enhance the transparency of the country's share-listing system.

H-share index to continue rising
Many investors seeking to cash in on mainland's booming economy are scooping up H shares - Hong Kong-listed Chinese firms that derive the bulk of their earnings on the mainland - and boosting the H-share index to new highs.

Biz leaders worry about stronger yen
TOKYO: Japanese business leaders expressed concern last week about the strong yen, and said they were worried its rise against the US dollar could nip an export-led economic recovery in the bud.

Snow unfazed by weakening greenback
WASHINGTON: US Treasury Secretary John Snow said last week the US economy seemed on track for steady growth, and he expressed no concern about the US dollar's steep plunge against other currencies.

Tech shares push indices to new highs
SINGAPORE: Samsung Electronics and other tech shares fuelled Asian markets last Friday after Wall Street rose to multi-year peaks, while stocks of Japanese auto makers and exporters bounced on the US dollar's jump to a one-month high.

Investors digest HONG KONG Huaneng output up
Huaneng Power International Inc, China's biggest independent power producer, said last Thursday it generated 90.91 billion kilowatt-hours of electricity last year, up 27.3 per cent from 2002.

MONEY MATTERS
SHENZHEN Gov't takes over securities brokerage

HOME markets
Shares end lower, asinvestors take profits from large-cap chips

EXCHANGE RATES (01/13/2004)