Daily News | Chinese ownership reform

According to the last data from our info providers, China has chosen 31 more government-owned companies to participate in the next round of Chinese ownership reform. The goal of the reform is to inject fresh private capital into the state sector. Another goal of the process is to add some market discipline into the system. The firms that will take part in this round of reform are run by regional authorities and the central government. China has chosen its direction and it will be very interesting to see what will happen in the future.

As for the market situation after the announcement of Chinese ownership reform, Shanghai index fell 0.55 percent. South Korea’s KOSPI fell as well, just as Japan’s Nikkei that lost 1.5 percent. Some analysts think that these market movements are actually corrections of the prices of equities. As you already know, global equities have been rising recently due to steady economic growth, corporate earnings and supportive economic policies. In addition, all three important U.S. stock indexes fell, and experts might relate that with the changes in oil prices. The dollar index lost against the basket of six major currencies; it lost about 0.7 percent. It will certainly be interesting to see how things develop in both cases, so make sure you keep coming back to our website for more market information.

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Author: Max Rothstein

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