Disney shares volatile on Shanghai project news

Posted by Randal Rayborn on November 1, 2009 - Filed under China

Disney shares on boil again

By Ma Zhenhuan and Xiao Xu (China Daily/Agencies)The high volatility of Disneyland-related shares in Shanghai has made individual investors wary of such stocks on fears that the frequent tremors would benefit only institutional investors.

An example of this is the report that appeared on Tuesday in Securities Times. The report said the Shanghai Disneyland project had passed “the verification stage set by top decision-makers” and would be officially announced by the end of the month.

The Shanghai-based National Business Daily reported yesterday that US President Barack Obama’s impending China visit in mid-November could have been the trigger for fast tracking the Disneyland project, citing insiders.

Shares of companies like Zhonglu Co Ltd, Shanghai Jielong Industry Group Corp Ltd, Shanghai Zhangjiang Hi-tech Park Development Co Ltd and Shanghai Shenda Co Ltd were among the prominent gainers.

The project was announced in March 2006 and has since then been the favorite of market speculators, even as both Disney and Shanghai municipal government remained tight lipped on the issue. read more at ChinaDaily.com…

You must be logged in to post a comment.

FT Asia-Pacific News

China closer to becoming second-largest economy
A senior Beijing official's reference to China as the 'world's second-largest economy' has sparked excited speculation that Asia's new powerhouse may have already reached a long-looming milestone by surpassing Japan […]
Leaks highlight Pakistan's Afghan quest
US relief at Islamabad's retention of its powerful army chief will be tempered by documents on WikiLeaks that allege the ISI backed Afghan militants while he was in charge […]
China blasts Clinton's maritime venture
China's military has condemned a US intervention in the dispute over maritime borders in the South China Sea, less than a day after Beijing said it had conducted a large naval exercise in the area […]
Indian police open fire on Kashmir demonstrators
Indian paramilitary forces opened fire on angry anti-India protestors in several different parts of the troubled Muslim-majority state of Kashmir, killing at least three people […]
Signs of slowdown in Japanese recovery
Fresh data reveal an unexpected rise in the unemployment rate and a drop in industrial production amid the country's ongoing battle with deflation […]

Wall Street Journal – Asia News

July Is Deadliest Month for U.S. Troops in Afghanistan
Three U.S. troops died in blasts in Afghanistan, making July the deadliest month ever for U.S. troops since the Afghan war began. […]
Top Pakistan Spy Scrubs U.K. Trip
Pakistan's military spy chief has canceled a trip to the U.K. after Prime Minister Cameron made remarks about Pakistan's role in sponsoring terrorism. […]
Hong Kong Privacy Chief Pushes for Regulation
Hong Kong's privacy commissioner recommended legislation to regulate service monopolies such as Octopus, after the operator admitted to selling personal data. […]
Curfew Imposed in Indian Kashmir
Authorities imposed an indefinite curfew across Indian Kashmir as anti-India protests and clashes between Kashmiri Muslims and government forces continued. […]
Deal Boosts Li's Standing in U.K.
Tycoon Li Ka-shing's $9.1 billion acquisition of three U.K. power grids from Electricite de France will give him control of about a quarter of the country's power distribution. […]