Surviving China's Stock Meltdown

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September 22, 2008
Asia Insider Keep up-to-date with the latest news from Asia

NEWS  THIS WEEK'S TOP ASIA STORIES Surviving China's Stock Meltdown Aaron Boesky's Marco Polo fund focuses on Shanghai-listed shares. With the market at a 52-week low, he admits it's not for the faint of heart Slide Show: Eight Unlucky Chinese Stocks

Inside: This Week In Asia The U.S. markets sure took a beating this past week. But the biggest losers this year turn out to be Chinese stocks. In this week's Asia Insider, we check in with Aaron Boesky (cousin to the infamous Ivan) to learn what's in store for mainland-listed shares. Also in this edition of Asia Insider: India's outsourcing shops feel Wall Street's pain; Korean chaebols not shaken my market tremors; and Ranbaxy reeling from FDA ban. Enjoy! --Cristina Lindblad, Asia Editor E-MAIL A FRIEND  |  GET RSS  |  SIGN UP FOR OTHER BW NEWSLETTERS

MORE ASIA NEWS FINANCE Eight Unlucky Chinese Stocks As China's stock market has fallen. some high-flying companies have taken noteworthy nosedives FINANCE Lehman Collapse Hits Japan Bond Market Sayonara, samurai: When the U.S. brokerage failed, Japanese investors were left holding $1.8 billion of its yen-dominated bonds FINANCE • From Asian Investor Lehman's Asia Staff Worse off than U.S. Counterparts Whitney Group's Russell Kopp talks about the Lehman Brothers layoffs in Asia and the impact the turmoil will have on the region FINANCE • From FinanceAsia.com Merrill's Asia Employees on Firm Ground Asia is likely in better shape than other regions since the duplication between Bank of America and Merrill Lynch is far less INFORMATION TECHNOLOGY • From Economic Times of India Indian IT Outsourcers Brace for Lehman, Merrill Fallout News about Lehman and Merrill—and the widening financial crisis—has Indian software exporters on edge TECH SERVICES • From Economic Times of India Big Layoffs for Indian Outsourcer Satyam The Hyderabad-based company is handing out pink slips and could lay off 4,500 of its 51,000 workers TECHNOLOGY • From ZDNet Asia India's IT Service Sector Reassesses Itself From new outsourcing locations to a growing domestic market, the landscape is changing for India's powerful IT-enabled services industry POLITICS Why Delhi Bombings Target Business In strikes against busy markets and upscale shops, the shadowy Indian Mujahideen is going for "maximum chaos" and "maximum financial damage," police say PHARMACEUTICALS FDA Ban Is a New Blow for India's Ranbaxy Bad news for Ranbaxy, the giant drugmaker and seller of generic drugs in the U.S., as the FDA announced a ban of 30 of its products PHARMACEUTICALS Ranbaxy Calls Rudy Giuliani for Help Days after the FDA announced a ban on dozens of Ranbaxy drugs, the Indian company says it's seeking advice from Giuliani Partners SPORTS BIZ • From China Economic Review India vs. China as a Global Sporting Events Host The Beijing Olympics brought infrastructure improvements. The 2010 Commonwealth Games could do the same for India, but it won't be easy TRADE China's Top Trade Official: Don't Abandon the Doha Round The Chinese Commerce Minister writes that resuming the key trade talks is needed to combat a global economic slowdown CORPORATE STRATEGY No Crisis for Samsung, Hyundai, and LG With some rivals hindered by global financial turmoil, South Korea's chaebol are expanding fast INFO TECH Samsung's SanDisk Bid May Boost Toshiba Chipmaker SanDisk would bring crucial technologies to the South Korean electronics giant, but how would the move affect the No. 2 Toshiba? INFO TECH • From ZDNet Asia Taiwan: Second in IT Competitiveness after U.S. Jumping four spots from its previous ranking, Taiwan is now a step behind the U.S. in the IT industry, according to a new report COMPUTERS • From ZDNet Asia Lenovo Goes Global with Servers With its new ThinkServer brand, Lenovo is extending its reach outside China for the first time—looking to Japan, India, and Southeast Asia CAMERAS Panasonic's Camera Strategy: Women & Children First The tech conglomerate unveils the Lumix G1, a lighter, simpler digital camera with high-end specs aimed at neophytes. But it's not cheap SOFTWARE • From ZDNet Asia A New Open-Source Wave Rises in Asia While lagging the West, the region is beginning to adopt the software in a big way and could introduce innovations in two to three years, industry vendors say  BW'S PICKS FROM AP NEWS >> •  Japan central bank keeps interest rates unchanged •  Ranbaxy vows to resolve US import ban on generics •  Two Chinese banks report $221.8 million in Lehman debt •  DreamWorks gains financing from Reliance of India •  French retailer in hot seat over Chinese chairs TODAY'S TOP AP STORIES  BW MALL   SPONSORED LINKS Countrywide Home Loans  No Cash Required For Closing Costs. Call Or Apply Online Now. A Brighter Talent Management Solution  Easily Assess, Develop, Motivate And Retain A High-Performing Workforce With Halogen eAppraisal. Richardson Sales Training  Global, Customized Sales Training that impacts performance and drives sales success. Helping Others Excel–Become a High Impact Coach  Executive and organizational coaches help others reach new heights–Contact Columbia University Today Attract Business Ezine Subscribers  The eZine Queen shows you secrets for online content success so you can make more money! Buy a link now! This newsletter is a FREE service provided by BusinessWeek.com. To sign up for other newsletters, cancel delivery, change delivery options or change your e-mail address, please go to our Newsletter Preferences page. If you need other assistance, please contact Customer Service or contact: Wanda Cooper BusinessWeek Customer Rights Communications Data Services 1995 G Avenue Red Oak, IA 51566 Phone: 1-800-635-1200 View our corporate privacy policy here. To learn more about how BusinessWeek.com applies this policy, you can contact our Marketing Department. Copyright 2008, by The McGraw-Hill Companies Inc. All rights reserved. Terms of Use | Privacy Notice

BLOG Eye On Asia >> How do you say "dead cat bounce" in Chinese? The Shanghai stock market surged 9.46% on Friday, but it's still down more than 60% this year. --Frederik Balfour POST YOUR OWN COMMENTS Visit Our Other Blogs Auto Beat Bangalore Tigers Blogspotting Brand New Day Byte of the Apple Economics Unbound European Insight Fine On Media Games, Inc. GreenBiz Hot Property Investing Insights Management IQ New Technology in Asia NEXT: Innovation Tools & Trends NussbaumOnDesign Tech Beat Working Parents Advertisement   Reader Poll: Special Issue Trouble at the office? In surveys, blogs, polls, and social media, BusinessWeek collaborated with readers to identify problems at work. Together we found answers.     IN YOUR FACE: FED DECLINES TO CUT FUNDS RAT Reader Dan Writes: "All this for a little pool of capital for LBOs back in 2004. This is the worst hangover ever." Tell Us: Do You Support the U.S. Federal Reserve's Refusal to Cut Rates? >   POLL INSTANT SURVEY >> Which Asian locale do you consider most livable in terms of quality of life? Auckland Sydney Tokyo Singapore Hong Kong Seoul Mumbai Not sure VIEW POLL RESULTS >> Advertisement   FEATURED SPECIAL REPORT >> The Asia BusinessWeek 50, 2008 Slide Shows Outsourcing Lab Work to India Asia's Corporate Elite 2008 Podcast The Asia BW50—Power Companies All Showing Stamina on the Asia BW50 Although many on the list have seen their stocks take a beating, almost all still have robust sales, good margins, and strong market positions Siemens India: A Shaky No. 1? ts business in India boomed this year. But now rivals are circling, the slump is hurting, and the stock has dropped 70% China's Alibaba Expands to India, Japan Increased Competition Hurts Yahoo Japan Shoe Seller Belle Conquers China Gome is Tops in China In Korea, NHN Makes Google a Midget Asia BW50 Interactive Scoreboard READER COMMENTS > MORE SPECIAL REPORTS >