Bank of China Limited
Asian markets mostly opened higher this morning, but reversed early gains after profit taking selling. Tokyo market fell in a choppy trade despite a positive support from Wall Street. This is largely due to a stronger yen and worries over some corporate financing plans. Korean market was down as foreign investors continued to offload Seoul stocks.
Alibaba Group (HKG:1688) and Bank of China Holdings Limited (HKG:3988)(Bank of China) today formed a long-term strategic alliance to collaborate on several e-commerce initiatives including online payment, international business cooperation, small business financing and joint marketing.
China Minsheng Banking Corp., Ltd (SHA:600016)(CMBC) has launched the JCB branded "CMBC - CEA Credit Card" in cooperation with China Eastern Airlines Corporation Limited (HKG:0670).
Asian markets extended strong gains Tuesday. However, investors were still cautious although US shares jumped nearly 7% a day earlier. On Wednesday most major indices in Asia opened modestly lower following the weak lead of Wall Street.
Australian shares closed lower on Friday. The Australian market sunk further into the red and languished in negative territory amidst gloomy economic news from here and overseas, according to CMC Markets.
Asian markets fell yesterday as investors remained sceptical and worried the deteriorating economy would not receive immediate help from the US stimulus plan. Tokyo stocks dropped 3%, led mostly by banks and exporters, as trading resumed after a holiday. Hong Kong's Hang Seng Index fell 2.3%, while Shanghai Composite lost 0.6%. The major indexes in Asia are likely to remain on a downward trend today.
Most Asian markets were hammered Monday over the concerns that the global recession is deepening. Hong Kong shares plunged sharply, even as mainland-Chinese shares gained after the Chinese New Year holidays. In Tokyo, some of Japan's biggest industrial companies fell to multiyear lows. China's Shanghai Composite contrasted other major indexes with 1 per cent surge as agricultural sector was strengthened after the Chinese government announced measures to prevent grain production from falling.