| BaWang bubbles over on debut Signs of a frenzy building among Chinese investors emerged on Friday when a herbal shampoo maker saw its shares surge by a third on their debut after part of the issue was 446 times subscribed  Shanghai breaks 3,000 barrier Properties led the advance as Chinese stocks jumped past the 3,000 mark this week for the first time in 13 months Bawang shines on Hong Kong debut Bawang International, a Chinese herbal shampoo maker, shined on its market debut in Hong Kong with shares rising more than 30 per cent in spite of a falling market BHP takes $675m writedown on Yabulu sale The mining group is to sell its Queensland nickel refinery to Clive Palmer, the Australian mining magnate, for an undisclosed sum Rio Tinto completes $15.2bn share sale Rio Tinto has successfully completed its $15.2bn rights issue, shoring up its financial position after the miner's Australian shareholders took up 95 per cent of their entitlement to the new shares HK audit rules squeeze profits at top 100 Mark-to-market accounting requirements wiped a quarter off the net profits of Hong Kong's leading listed companies last year, in spite of a surge in corporate revenues China eyes $5bn railway IPO The Chinese government has hired two foreign banks to arrange the public listing of a railway holding company in an IPO that could be worth as much as $5 billion Japanese lenders shun western ways The merger of equals between Shinsei and Aozora raises questions about their ambitions to provide an alternative to the country's banking model Chinese talk to Repsol about Argentine arm Spanish oil company and two biggest mainland oil groups in talks over possible asset purchases and joint ventures Chinalco to take up Rio rights The state-owned Chinese group will participate in the Rio Tinto rights issue to maintain its stake in the global miner at 9% China recovery hopes gather pace China's manufacturing and business-activity indices both finished in positive territory in June, confirming that the world's third-largest economy is continuing to expand amid a mixed picture elsewhere in Asia Talk of China bubble does not deter investors As with other economic indicators in China, such as rebounding car sales and robust gross domestic product growth, the mainland's stock markets have outperformed expectations Lossmaking Shinsei and Aozora seal merger Shinsei and Aozora, two lossmaking Japanese lenders backed by US private equity groups, unveiled plans to merge their operations in October next year to create the sixth-largest bank in Japan ANA to increase order for 787s All Nippon Airways' shares fell sharply, as the Japanese carrier announced plans to raise Y183bn ($1.9bn) in fresh equity to strengthen its finances and help fund an increase in its orders for Boeing's 787 Dreamliner Overview: Strong quarter for equities ends on dull note Disappointing US consumer confidence data offer a timely reminder of the headwinds facing the global economy News Wizard |