Improvements in China's Slowing Economy Boosting Chinese Equities
The Paragon Report Provides Stock Research on China Ceramics and China Precision Steel
NEW YORK, NY -- (Marketwire) -- 11/28/12 -- 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 China Ceramics Co. Ltd. (NASDAQ: CCCL) and China Precision Steel, Inc. (NASDAQ: CPSL).
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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China Ceramics is a leading manufacturer of ceramic tiles in China. The company's ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. China Ceramics on Tuesday reported that it has entered into a strategic contract with a wholly-owned subsidiary of China State Construction Engineering Corporation, the largest real estate construction contractor in China.
China Precision Steel is a niche precision steel processing company principally engaged in the production and sale of high precision cold-rolled steel products and provides value added services such as heat treatment and cutting medium and high carbon hot-rolled steel strips. As of September 30, 2012, China Precision Steel had a backlog of $6.2 million which is comprised of approximately 20% in exports, 30% in high-carbon steel and 50% in low-carbon steel products.
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