Three State-owned financing next month in Hong Kong 640 billion

Offering activities to attract external hot money back, the Hong Kong Monetary Authority to intervene in the Hong Kong dollar uptrend

According to news agencies reports, Shenhua 6.5 million new shares have been finalised six major strategic investors. Henderson land (0012.HK) President Lee, the new world development (0017.HK) President Zheng Yutong, CITIC Pacific (0267.HK) President Rongzhijian, Kerry (0683.HK) shareholder Kuok Hock Nien, BOC international flag next direct investment fund will purchase Shenhua 1 million new shares, and the world's second-largest mining company Anglo American will subscribe for new shares its 1.5 billion.

Henderson land development co., Ltd Executive Director Lin high play may 26 confirmed that the company President, Lee has agreed to purchase 1 personal capacity: us Shenhua co. Ltd. IPO stock for the first time.

Shenhua initially scheduled for June 2 to June 7, prospectuses, 15 June at the Hong Kong stock exchange, raising US $ 28 million-36 (hop 218.4 billion to 280.8 billion). In accordance with stock exchange listing process, Shenhua and recently passed listing hearing, beginning on 25 may advance promotion activities of the Bank of communications (financing of about 200 billion), and Thursday for listing hearing Cosco holdings (financing of about 156 billion), should be able to cast listing in June. These three major State-owned enterprises in total amounted to estimate nearly 640 billion, will hit Hong Kong stocks amounted in the single record.

Three State-owned enterprise offering, attracting external hot money return to Hong Kong, the effective exchange rate 25 May had specifics 7.774 US dollar high this year, leading to the Hong Kong on May 25, 12 noon to intervene in the market sell 5.44 HK and undertake dollars balance forecasts by $ 7 million to $ 13.17 billion. This is also the place to launch on Wednesday to optimize the system's three new measures, the first intervention dollar uptrend.

Mr Joseph Yam, Chief Executive of the Hong Kong on May 26, later the Hong Kong stock market has a large offer of financing, the tensions, the funds comparison interbank interest rates even higher than the US interest rate, this is not normal, so the HKMA 25 may in the city following the US dollar, Kong dollars right of action.

Active in the market place, May 26, effective exchange rate remained strong, dollar 1140 7.7783 US dollar level of wandering, but major money market, the overnight interest rates continue to level up and down in 3.1%.

Hong Kong banking community that, despite the initiatives recently launched, the sharp drop in the banking system balances 30 billion, but the market actually on the overall economic Outlook has not changed, including the economic optimism, as a result, when some attractive company listed in Hong Kong, will attract hot money flows. A foreign exchange trader that offer huge, it is expected that the next few weeks for flows will increase, the intervention of Hong also only just beginning.

According to statistics, June 2000, because China Unicom (0726.HK) in Hong Kong listing 436 billion, making the total financing amount for the month Hong Kong stocks reached 441 billion. In December 2003, while China life (2628.HK), great wall automobile (2333.HK), and other big company listed in Hong Kong, Hong Kong stocks, but the total amounted to nothing but only around 303 billion. Therefore, the 3 big heavyweight-shares listing in June at the same time, on our ability to raise funds of the financial system is a challenge.