HK-04.03.08 miitags viel Glück

China unveiled another

double-digit

rise in military spending on Tuesday for a modernization plan heavily scrutinized overseas, and also warned self-ruled Taiwan that Beijing would "tolerate no division".

The planned allocation for the People's Liberation Army for 2008 was 417.769 billion yuan ($58.76 billion),


up 17.6 percent on 2007,


Jiang Enzhu, spokesman for China's National People's Congress, or parliament, told a news conference on Tuesday.

Jiang said the money would be used to raise the pay of service personnel and improve training for officers, as well as to upgrade military equipment.

"Appropriately increasing spending on equipment upgrading will improve our defensive ability," Jiang said.

The rise follows a 17.8 percent increase in defense spending for 2007, its largest rise in a decade, when the official outlay reached 350.92 billion yuan, or $45 billion.

International experts estimate China's true spending on the PLA could be as much as triple that.

Jiang said that China's spending on defense was still much lower than other countries, as a percentage of their overall economies......

www.reuters.com/article/worldNews/idUSPEK18344220080304

The HSI repetitiously eased after rising to 23923 and ended the midday down 155 pts at 23429; the HSCEI opened 129 pts higher and closed 213 pts lower at 13225 with a turnover of $40.9b...
Afternoon Letter China Capital Management Limited
2008/03/04  

The HSI opened 274 pts higher this morning, repetitiously eased after rising to 23923 and ended the midday down 155 pts at 23429; the HSCEI opened 129 pts higher and closed 213 pts lower at 13225 with a turnover of $40.9b. March futures finished 27 pts lower at 23288 on 141 discount to the spot market with a turnover of 38,565 lots.

HSBC (0005-HK) that reported in-line results was up 1.34 per cent, Hang Seng Bank (0011-HK) that released a more than 50-per cent profit growth last year down 3.26 per cent on profit taking, Bank of East Asia (0023-HK) down 0.72 per cent, BOC HK (2388-HK) down 0.32 per cent, and StanChart (2888-HK) down 2.41 per cent.

Local property stocks put in mixed shows. Cheung Kong (0001-HK) intending to launch more units of its new development "The Capitol" at higher prices dipped 0.17 per cent; Henderson Land (0012-HK), SHK PPT (0016-HK), New World (0017-HK), Sino Land (0083-HK) and Hang Lung PPT (0101-HK) shed 0.17 per cent to 1.95 per cent; lease stock Wharf Holdings (0004-HK) was up 0.13 per cent, Swire Pacific 'A' (0019-HK) up 0.23 per cent, and MTR Corporation (0066-HK) that built projects on the top of Che Kung Temple station for public bidding down 1.37 per cent.  

HSI 23429.08 = -155,89
CEI 13225.94 = -213,98

MAR 23288 -0,12%
APR 23253 -0,18%
JUN 23330 +0,56%
SEP 23097


vor der Mittagspause
heavy bullish block trading m CLife und HSBC
bearish HSI future trading

mainland

Shanghai A Share Index   4,604.04   -53.07
Shanghai B Share Index 317.94 3.50
Shenzhen A Share Index 1,472.08 -13.25
Shenzhen B Share Index 634.16 0.95

CEI 13091,97 -355....

CEI -480,15 = 12959,77 !!!! unter 13T