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Media Report
July 27 , 2015
  • Wall Street Journal：China Stocks Suffer Sharpest Daily Fall Since 2007
    The Wall Street Journal reports, "China stocks suffered their sharpest daily percentage decline since 2007, as worries mount that authorities are pulling back on measures to prop up the market. The Shanghai Composite Index ended down 8.5% at 3725.56, its second-straight day of losses and worst daily percentage fall since February 27, 2007. China's main index is up 6% from its recent low on July 8, but still off 28% from its high in June. The smaller Shenzhen Composite fell 7% to 2160.09 and the small-cap ChiNext Closed 7.4% Lower at 2683.45. Analysts say investors fearful the government would curb its purchases of blue-chip stocks sparked Monday's selling. Others said officials could be testing whether the market can support itself."
  • Reuters：Oil hits four-month low on China stocks tumble, supply worries
    Reuters writes, "crude oil futures hit four-month lows on Monday after a steep drop in China's stock markets spread concerns about the economic health of the world's biggest energy consumer, amid evidence of a growing crude glut. Oil was also pressured by the sharp increase in U.S. drilling activity last week, after dataon Friday showed producers adding 21 rigs, the most in over a year, suggesting a ramp up in output as crude futures recovered from six-year lows seen in the first quarter. A weaker dollar .DXY on Monday cushioned some of the losses in oil though, as crude and other commodities denominated in the greenback saw higher demand from users of the euro. Chinese stocks tumbled more than 8 percent in Asian trading, the biggest one-day drop in eight years that drove European equities markets to a two-week low."
  • Reuters：China eyes new cruise link to disputed South China Sea islands

    "Chinese authorities plan to start a second cruise ship link to the disputed Paracel Islands in the South China Sea, state media reported on Monday, in a move that may irk Vietnam, which also claims the islets. China began cruises on the Coconut Princess on a trial basis from the southern island province of Hainan in 2013. More than 10,000 tourists have taken the trip so far, the official China Daily reported. Officials hope a second ship will be in operation before the end of the year, and that more islands can be opened up for visits, the report said. Those include Woody Island, where the Chinese government seat for administering the Paracels is located. However, weather and poor facilities could hamper tourism efforts. The Paracels are often hit by typhoons and strong winds, the paper said," reports Reuters.

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