Chinese firm in trouble after losing $550m in speculation
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A listed Chinese company that sources jet fuel is in deep trouble after losing $550 million (R3.16 billion) in speculative oil trades, triggering concern over other China-linked stocks on the exchange.
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Global stock markets were walloped with a collective loss of 5.2 trillion dollars in the month of January as investors scurried for cover in the face of economic uncertainty, a report showed Friday.
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The bank said it would sell a $5 billion stake to Chinaâs sovereign wealth fund as it posted a loss after taking a new $5.7 billion write-down related to mortgages.
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Confusion about the role of Chinese banks in the sale of Russia's Yuganskneftegas deepened on Wednesday.
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Company posts big loss amid a variety of problems that are "self-induced." It also expects an operating loss for the current quarter, which includes the holiday selling season.
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The bank said it lost about $854 million, exceeding analystsâ fears about how badly it would suffer from its subprime mortgage bets.
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SHANGHAI, China -- Chinese stocks tumbled Thursday on waning confidence in the bull market amid worries about government steps to cool the market and that a slew of new share listings might drive prices lower.
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BEIJING -- Chinese stocks plunged Monday following government efforts to cool a market boom, recording their biggest one-day drop since a late February drop that triggered a global market sell-off.
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Chinese net stock Sohu.com (Nasdaq: SOHU) dropped by 10% on Friday after the company announced that its multimedia messaging services with China Mobile Communication had been temporarily suspended for a year. The sanctions were ...
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Stock futures fell on Monday after another sharp fall in Chinese stocks raised concern, but the resilience of other global equities and a steady stream of deal-making may limit losses.
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Here's one China-themed stock that's not doing so well.
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The bank said it lost about $854 million, exceeding analystsâ fears about how badly it would suffer from its bad bets on subprime mortgages.
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The company, battered by the subprime crisis, said it would sell a $5 billion stake to a Chinese investment fund.
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The government is likely to tighten supervision of domestic companies&#39; trading futures on overseas markets after the China Aviation Oil (Singapore) Corp lost US$550 million from
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The company, battered by the subprime crisis, said it would sell a $5 billion stake to a Chinese investment.
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The9 looks to grow in China, but its earnings are going the wrong way.
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The company said its quarterly loss ballooned to $302.6 million as it struggled with its mortgage lending arm and said it is trying to renegotiate the sale of the unit.