China shares up 0.57% in morning trade

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10:31 AM December 31st, 2012

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SHANGHAI – Chinese shares were up 0.57 percent in early trade on Monday, the last trading day of the year, but dealers said the gains could be capped by worries over the US fiscal cliff.

The benchmark Shanghai Composite Index rose 12.67 points to 2,245.92.

The market will be closed during a three-day New Year holiday starting from Tuesday.

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  • TagaMlang

    “China shares up 0.57% in morning trade”

    This is just for show.  If you carefully analyze the China market, it is not truly a free market because everything is owned by the state.  The companies listed in the Shanghai Stock Exchange are all owned by the China Government.  The listed shareholders are just acting as managers for the state company.  Remember, China is still a Communist Country and everything is owned by the government or the state.

    Even private individuals who buy houses, apartments and condo units, they cannot own them.  The government still owns them, but the private individuals are allowed to stay there for 50-70 years.  After such period, the properties revert back to the government/state.

    It’s a fallacy and a complete myth for people to believe that free enterprise/free market reigns in China.

  • http://twitter.com/CJirch charlie jirch

    . . . . Japan will become the No. 2 Economy in 2013 – followeed by India  No 4 will Be Brazil and No. 5 will be China due to corruption . . .

  • rayingga

    Japan will retake the #2 position in the Global economy, China will descend to #3 and eventually to #4 and Indian will prosper to #3.

  • mannager

    China’s economy is expected to deteriorate uncontrolled , might happen in 1st quarter of year 2013.

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