Fall of Oil Price has Lagged Effect on PPI
The international and domestic crude oil prices have no connection, but the transmission effect of the declining international oil price could not immediately embody the data of PPI in August. So the decline of oil price has the lagged effect on PPI data.
Oil Prices Decline & Bunker Adjustment Factor
From September 8, 2008, Lufthansa Airline Company reduces the bunker adjustment factor for intercontinental courses as the decline of oil prices. The flight from China to North America, South America and Africa, the bunker adjustment factor is adjusted to 160 euros for each direction.
AAA Texas: Gas Prices Remain Steady in Most Texas Cities in Anticipation of Hurricane Ike
HOUSTON, TX, Sep 11, 2008 (MARKET WIRE via COMTEX) — The average price of a gallon of gasoline dropped almost a penny in Texas compared to last week. The state average of $3.537 is about 14 cents lower than the national average which stayed about the same at $3.678.
Other News
A: China Life Insurance announced the placard that they would plan to invest “China Life Insurance Asset—debt investment plan of Tianjin Tig Urban Resources”, the investment volume is eight billion yuan and the investment period is 12 years.
B: Vanke issued the notice to clarify the reports from some media and make it clear that they could not accept any compensation, check-out requirement without law and contract basis.
C: The related official of State Development and Reform Commission says that China is now speeding up the management approach establishment on Private Equity Fund.
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4.9% Increase of CPI in August
National Bureau of Statistics yesterday announced the major economic data in August. Among which, CPI roses rose 4.9%; from the monthly link relative ratio, it fell 0.1% PPI rose 10.1%. From January to August, urban fixed asset investment was 8.492 trillion yuan, which increased 27.4% compared with the same period last year.
The Increase of CPI Slows Down
The increase of CPI in August was only 4.9%, which greatly overstepped the return anticipation in the market. Moreover, some experts have predicted that CPI would continue to decline.
Investment Strategy shall be changed as the Disclosure of CPI
National Bureau of Statistics yesterday announced economic data in August. The strategy analyst of Changjiang Securities Research Department, Li Maoyu says that CPI now has not great influence on the market, while PPI becomes the most hidden trouble on impacting the share market.
Other News:
A：Ministry of Finance will exempt the debt of related parties to realize the restricted provisions on the income of debt reorganization.
B：OPEC will cut 520,000 barrels daily output of crude oil in 40 days and strictly limit to output 28.8 million barrels.
C: The purchase rate of Dongfang Yuhong is 0.0047 percent, which not only creates the lowest level since the foundation of small and medium-sized panel, but also set up the lowest purchase return rate of new share among all the listed shares after the breakaway of new and old shares.
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Stock Account Number
Although the total number of stock accounts had reached 120 million, in August the new increase stock accounts created the new low for these 20 months according to the statistics.
Stimulation from Active Measure from the US Goverment
Stimulated by the news on the 7th that the U.S. government would take over the troubled “two- mortgage”, the world major stock markets all rose greatly on Monday.
CPI and PPI in August will be issued tomorrow
The placard from Bureau of Statistics showed that CPI and PPI in August and fixed assets investment of eight months this year would be released in advance on September 10.
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