Chinese Equities Receive a Boost as Manufacturing in China Rises for the First Time in 13 Months
27 Novembre 2012 - 2:20PM
Marketwired
Chinese stocks received a boost last week as China's soft economy,
which is set to grow at the slowest pace in over a decade, showed
some much needed signs of improvement. The Bloomberg China-US 55
Index (CH55BN), which tracks the performance of the top 55 Chinese
equities trading in the US, surged 2.3 percent last Friday. The
Paragon Report examines investing opportunities in Chinese Equities
and provides equity research on Cleantech Solutions International
Inc. (NASDAQ: CLNT) and Zhongpin Inc. (NASDAQ: HOGS).
Access to the full company reports can be found at:
www.ParagonReport.com/CLNT
www.ParagonReport.com/HOGS
A recent survey has shown that manufacturing in China, the
world's second largest economy, expanded for the first time in 13
months. HSBC's Purchasing Managers' Index last week rose to 50.4
for November, any reading above 50 signals expansion. China's
leaders have slashed interest rates twice since June and have
announced $150 billion in infrastructure projects in attempts to
boost its slowing economy.
"It shows that the policy easing has continued to support a
growth recovery, and reinforces our view that growth will pick up
strongly in the fourth quarter to 8.4% from 7.4% in the third
quarter," said Nomura economist Zhiwei Zhang.
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Cleantech Solutions supplies forging products, fabricated
products and machining services to a range of clean technology
customers, primarily in the wind power sector and supplies dyeing
and finishing equipment to the textile industry. The company
reported revenues in the third quarter totaled $17.3 million, a
sequential increase of 35.2 percent.
Zhongpin is a leading meat and food processing company that
specializes in pork and pork products, vegetables, and fruits in
China. Its distribution network in China covers 20 provinces plus
Beijing, Shanghai, Tianjin, and Chongqing. On Monday, shares of the
company spiked over 15 percent after reporting it has accepted an
offer to go private.
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