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Shanghai Securities Exchange

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BUSINESS
February 22, 1992 | DAVID HOLLEY, TIMES STAFF WRITER
The Shanghai stock market opened its doors a crack to foreign investors Friday for the first time since 1949, when China banished what it called the hated capitalist speculators. Share prices in the one company sold to outsiders surged from an opening bid equal to $72 per share to $92.20 by late morning before closing at $88.50. The B shares in Shanghai Vacuum Electron Device Co.
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BUSINESS
August 11, 1994 | From Reuters
Shanghai's Class A share market for domestic investors recorded another dazzling gain Wednesday, shrugging off Tuesday's losses to soar on expectations of an infusion of bank liquidity, brokers said. The index jumped 19.76%, adding 125.28 points to close at 759.17, and brokers said the surge will continue with new investors flooding into the market. Turnover was $1.12 billion.
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BUSINESS
August 11, 1994 | From Reuters
Shanghai's Class A share market for domestic investors recorded another dazzling gain Wednesday, shrugging off Tuesday's losses to soar on expectations of an infusion of bank liquidity, brokers said. The index jumped 19.76%, adding 125.28 points to close at 759.17, and brokers said the surge will continue with new investors flooding into the market. Turnover was $1.12 billion.
BUSINESS
February 22, 1992 | DAVID HOLLEY, TIMES STAFF WRITER
The Shanghai stock market opened its doors a crack to foreign investors Friday for the first time since 1949, when China banished what it called the hated capitalist speculators. Share prices in the one company sold to outsiders surged from an opening bid equal to $72 per share to $92.20 by late morning before closing at $88.50. The B shares in Shanghai Vacuum Electron Device Co.
BUSINESS
December 19, 1990 | From Times Wire Services
Trading on the Shanghai stock exchange resumed today after a break of more than 40 years caused by foreign invasion and the Communist revolution. To the sound of "When the Saints Go Marching In" played by a venerable Chinese jazz band, dealers in red waistcoats took to the floor of the Shanghai Securities Exchange under a giant electronic screen.
BUSINESS
November 23, 1992 | TOM PETRUNO
China's Shanghai Vacuum Electron Devices Co. has only been publicly traded for nine months, but General Manager Wen-Hai Xue is quickly mastering the art of shareholder relations. It is true, he conceded to a questioner at a meeting in Century City on Friday, that the stock has tumbled from $70.10 a share at its February offering to $47.20 now. But of course, "We believe that has nothing to do with the performance of the company," the amiable Wen-Hai insisted, via translator.
NEWS
June 15, 1993 | William D. Montalbano
ENTREPRENEUR In Nanjing, no one is closer to the cutting edge of change than Wang Shunqing. Last May 8, she took a deep breath and opened a restaurant on East Beijing Road, naming it Yi Yuan after her daughter and featuring Sichuan food because that is where her chef is from. "I am 40 years old, but I am young at heart and I wanted to do something for myself," said Wang, who had been an office worker.
BUSINESS
August 10, 1992 | CHRISTINE COURTNEY and DAVID HOLLEY, SPECIAL TO THE TIMES
With just five years to go before China resumes sovereignty over Hong Kong, the financial community here is nervous. Remembering its losses when the communists took over China in 1949, Hong Kong & Shanghai Banking Corp. has hedged its bets on 1997 by merging with Britain's Midland Bank and transferring all shares to a holding company that, although headquartered in Hong Kong, is incorporated in England.
MAGAZINE
June 18, 1995 | Orville Schell, Orville Schell is one of America's foremost China watchers. His last article for this magazine was about rock singer Cui Jian. His book "Mandate of Heaven: A New Generation of Entrepreneurs, Dissidents, Bohemians and Technocrats Lays Claim to China's Future" was published last fall by Simon & Schuster.
This past February, when Shanghai International Securities, China's largest brokerage house, suddenly found itself staring at losses of upward to $150 million in the bond futures market, it wrote a new chapter in the history of this mutant people's republic by trying to manipulate the market with a mass selloff minutes before closing time. The next morning, stunned officials on Shanghai's infant securities exchange were forced into another unprecedented move.
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