The artist schreef:
Draak = China
Waarom de economisten over een wonder spreken ligt in het feit dat het van een onderontwikkeld land in minder dan 50j naar een superwereldmacht gaat, ook de jaarlijkse groei rond de 8% a 9% vindt men wonderlijk.
gebeurt er wat ? => zie tekst ( natuurlijk, ik begrijp dat er velen het totaal plaatje nog niet vatten, dat is normaal dat vraagt tijd, maar ge moogt er alvast van uitgaan dat deze index sterk bezig is )
Property puts shares at 52-month pinnacle
July 19, 2005
Hong Kong shares ended at a 52-month high Monday, underpinned by continued strength in the property sector.
The city's largest property firm Sun Hung Kai Properties jumped more than 2 percent to HK$80.45 as investors eyed a strong local economy amid expectations that the firm will report strong corporate profits.
The city's second largest property firm by market capitalisation, Cheung Kong (Holdings), rose 1 percent to HK$83.30, its highest levels since early 2002.
``Everybody is swept away by property. I think there is some irrational exuberance in there,'' said Francis Lun, general manager at Fulbright Securities.
The blue-chip Hang Seng Index rose 0.43 percent to 14,567, its highest closing level since February 28, 2001. But volume, which surged last week, slowed slightly with HK$17.6 billion worth of shares changing hands.
JPMorgan Monday raised its 12-month Hang Seng Index target to 16,700 citing diminishing concerns over the impact of rising interest rates and positive local developments, such as the much-discussed opening of Hong Kong's Disney park set for September.
``Fundamentally the market outlook is very positive. The overhang from interest rates is lifting and the market should perform well,'' said Steven Li, head of research at JPMorgan in Hong Kong. The top five performing blue chip shares of the day were all property counters. Mid-tier developer Sino Land was the top blue-chip gainer, up 7.3 percent to HK$9.55, its highest level since early 1997. Sino Land shares have now doubled over the past year. Fellow Hang Seng freshman New World Development was the second best performer, up 6.15 percent to HK$10.35, its highest level since early 2001.
Ports-to-telecoms firm Hutchison Whampoa also continued to gain ground as investors anticipated handsome results thanks to rising revenues from its hefty investment in third generation mobile phone services. Hutchison rose 0.8 percent to HK$75.65.
China Southern Airlines, the country's second- largest carrier, gained 2.3 percent, to HK$2.225. It said it will spend 1.1 billion yuan (HK$1.034 billion) to establish a base in Beijing to tap rising air travel demand as the 2008 Beijing Olympic Games approaches.
Meanwhile, China's top offshore oil producer CNOOC lost ground for the third straight day, down 1.6 percent to HK$4.60 as investors worried about how much the firm may have to pay to win a bid for US oil firm Unocal.
CNOOC is vying with Chevron for Unocal and some investors worry it may raise its bid as a vote by Unocal shareholders on August 10 nears.