CNOOC

Reading the Tea Leaves of the Shanghai Composite

The Shanghai Composite is as close to a proxy for public firms in China as investors can get, and indexes are believed to reflect where markets think a nation's economy is headed. So what does it mean that, despite China's white-hot growth, the Shanghai Composite has been seriously lagging the S&P 500?

Why We Sold Chinese Oil Stocks

Given rising oil costs and China's rising position as an oil consumer, betting against Chinese oil companies is a seriously contrarian move. Here's why it may also be the right way to go.

Asian Markets Rise as Japanese Machinery Orders Ramp Up

Asian markets rose Wednesday on news that Japan's economy may finally be bouncing back. Figures released yesterday show that machinery orders in Japan jumped 4.2% in January over December, sending the Nikkei up 0.6%. In Hong Kong the Hang Seng Index edged up 0.4% and China's Shanghai Composite Index added 0.1%.

Chinese Reserve Ratios Escape Recent Hike, Asian Markets Rise

Investors in Asia were quick to react to a report that China has canceled its last round of reserve ratio hikes, sending markets up on Tuesday. The Hang Seng rose 1.7% in Hong Kong, the Shanghai Composite inched up 0.1%, and in Japan the Nikkei 225 Index gained 0.2%.

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%.

Chinese Inflation Drags Asian Shares Lower

Asian markets plunged Thursday. In China the Shanghai Composite Index tumbled 2.9% to 2,678 and in Hong Kong the Hang Seng Index fell 1.7% to 24,004. Japan's Nikkei 225 Index lost 1.1% to end the day at 10,437.

CNOOC and Chesapeake Sign a $2.2 Billion Deal

CNOOC, China's top offshore oil producer, plans to buy one-third of Chesapeake Energy's oil and natural gas acreage in the Eagle Ford Shale project in South Texas for $1.08 billion in cash. The companies believe the deal will clear regulatory hurdles, even though CNOOC's efforts to buy a U.S. oil company five years ago were blocked.