bank of china

Higher Oil Prices Send Asian Shares Up

Asian investors brushed aside worries over continuously rising Chinese inflation today, focusing instead on bargain shopping. Energy companies were a major attraction as oil prices surged. Hong Kong's Hang Seng Index climbed 1.1% and China's Shanghai Composite Index advanced 0.9%. In Japan the Nikkei 225 Index edged up 0.6%.

Threat of Worsening Inflation Drags Shares Lower in China

Asian shares were mixed Monday. In China the Shanghai Composite Index fell 0.7% and in Hong Kong the Hang Seng Index edged down 0.3% as investors worried that inflation could rise further in the lead-up to Chinese New Year. However, Japan's Nikkei 225 Index climbed 0.7%.

A New Way to Bet on China: Open a Renminbi Bank Account

China's economy is booming, and Western nations are increasing their demands that its currency be allowed to rise to its natural value. Who knows if that will happen, but if you want to bet that it will, the Bank of China just made it easier: Now, Americans can open renminbi-denominated accounts.

Hang Seng Rallies After Goldman's Bullish Prediction

Hong Kong's Hang Seng Index climbed 2% to 24,145 Wednesday -- a two-year high -- after Goldman Sachs predicted the index could reach 29,000 in the next year. That, combined with expectations of a new $500 billion round of U.S. economic stimulus, was good news for Asian markets.

Japanese Consumer Lenders Soar on Nikkei

Shares in Japanese consumer lenders surged on the news that plans are in the works for Osaka to become a special business zone. This would make it exempt from the heavy regulations that have strangled Japanese lenders with restrictions.