Category: Stocks

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China Stocks

More about Chinese Banks

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These days the Chinese bank stocks are flying high. At the same time the competition also intensifies as the foreign bank are formally opening branches next Monday. The domestic players are raising fund through IPO: with the recent IPO of ICBC (601398.SS) and Bank of China (601988.SS); the new IPO of China Citic Bank, the “Haigui IPO” of Bank of Commincations (3328.HK) are on the horizon; some local commercial banks (used to be credit unions) are also preparing IPO, notably Bank of Nanjing, and Bank of Ningbo.

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Got Some GSIT GSI Technology

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I did not got it from the IPO allocation. WR Hambrecht did call me but I was not near the phone. When I called back, they told me they already offered the shares to others. This may be a good thing as the share was priced at 5.50, below the original price range of 6.50 to 8.

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China Stocks

Yahoo Finance CN is not Perfect

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I found Yahoo Finance (China version) is not good enough. For instance, it does not have information for earnings and PE ratio for the stocks, e.g., check out this 600064.SS Nanjing High Tech. I found Sina Finance does a better job. It has these information. You can check out the 600064 here (scroll down, check out 最新简况).  

One thing in common is they both offer real time price quote.

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China Stocks

Investing in Chinese Banks

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These days I saw more and more banks in Shanghai. Beside the addition of domestic banks such as Bank of Shanghai, which has root from Shanghai City Credit Union, many foreign banks such as Citi Bank opened branches and they also do the Ren Ming Bi business. Why suddenly we have so many banks? I remember 10 years ago we have the big four: ICBC, Bank of China (specialize in foreign currencies), Agriculture Bank and Construction Bank, plus Bank of Communcations, and the Cedit Unions I mentioned. Now it’s a total different ball game.

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Stocks

IBD Meetup Group

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Don’t think only Chinese investors have the herd mentality. The similar things happen to American investors too. One thing I noticed is there are lots of investors club in the States. They have meetings, discussions, etc. I went to the IBD (Investors Business Daily) Meetup at St. Louis once, and I received the group email from time to time. The group meets once a month. Here is the emai I got on Mar 13:

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Stocks

GSI Technology IPO

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(Update 21Mar07) The revenue and net income for past 12 months are $50 m and $7 m respectively, according to IPOHome.  

I received this IPO offer from WR Hambrecht today. Since Xinhua Finance Media (XFML) turned out to be cold, I will be more careful here. Luckily I don’t see JP Morgan on the underwriter list. Besides Hambrecht, I saw Needham, Robert Baird. Both are respected regional investor bankers. A bit about the GSI tech, “The Company develops and markets Very Fast static random access memory products that are used primarily in high-performance networking and telecommunications equipment.”

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China Stocks

Ajisen Ramen and E-House IPO

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I mentioned the Ajisen Ramen 味千拉面 a while ago, see this post. Today from what I read from China-CBN, they are going to do IPO in Hongkong, the symbol will be 0538.HK. Like the Huiyuan Juice, I think this will be a hot one. Please be aware I am not endorsing Japanese noodles here. As matter of fact, I found a better place than Ajisen Ramen near my work place, that’s a Chinese one.

Separately, I heard this rumor from Pacific Epoch that E-House is going IPO in NYSE this year. E-House is a real estate broker in China. Don’t confuse it with Jinfeng Investments (600606.SS), which has provided similar service in the past and has the 金丰易居 brand. Note the founder of E-House has worked for Jinfeng.

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China Stocks

Bought Some Shares in Shanghai

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Finanlly I bought some A Shares in Shanghai Stock Exchange this afternoon. This is more than 10 years after my last purchase 🙂

I realized Chinese domestic stock market is still not widely open to foreign investors. There is a thing called QFII, stands for qualified foreign instiutional investors. Here is a good explaination for QFII from Havest Fund. I believe Morgan Stanley and others have QFII funds. There are also many mutual funds investing in Hongkong and asia pacific. You can ask them if you are interested. As an alternative, investors can look at Chinese ADRs traded in NYSE, Nasdaq, and H Shares in Hongkong Stock Exchanges. Personally I don’t think domestic market is mature enough for average joe in the UK, US, etc.  

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China Stocks

Opening Account Round Two

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I went to ChinaClear, the Chinese securities clearing house. I don’t know what’s the equivalent in the States? I do believe they have something similar but it’s just behind the scenes. In other words, we don’t need to know all the details.

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China Stocks

Opened Stock Account in Shanghai

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I thought about this for quite a while, debating whether I should joined the party in Shanghai. Finanlly I decided to pull the trigger. I went to China Merchant Bank (招商银行), and opened my stock trading account there (the securities department of CMB). The procedure is very much like that in US. I filled out a bunch of forms, including the acknowledgment of risk, showed my IDs, paid 90 Yuan for the card. I am still waiting for the final approval before I can buy stocks.

(Update 14Mar 4PM Shanghai time) I heard from my broker that I already have securities account (I bought and sold stocks in Shanghai in 1995/97). Because I could not find the old account No. I need to go to 中登公司 to get it straight.

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