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Olympics Downgraded to Sell?

Friday, 9th May 2008 ~ Maggie ~ Link ~ Comments (0)

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Ever since the torch relay's rocky international route began, the business press has speculated how the protests, boycott calls and other negative attention would impact Olympic advertisers.

But the likes of Adidas and Lenovo are not the only companies looking for big gains from the Beijing Olympics. In November 2006, Australian securities firm Macquarie Group created a basket of Olympic stocks, whose values Macquarie expected to get a boost from the games. The 23 Olympic stocks include Air China, Beijing Capital International Airport Co. and Beijing North Star Co., the city government's property arm.

According to this Bloomberg report, the stocks "fell by an average 21 percent this year compared with a 12 percent drop in the Hang Seng China Enterprises Index."

Bloomberg says the stocks' value rose too quickly in 2007, going up 69 percent compared to 56 percent overall for the Hang Seng index. The story implies that the stocks are still overvalued, trading at an average of 30 times earnings compared to 19 times earnings for the Hang Seng index.

Tags: business, Olympics

This Weekend Around China

Friday, 9th May 2008 ~ Maggie ~ Link ~ Comments (0)

Below are listings of some sporting events for fans and weekend warriors around China. Are we missing something in your city? Use our contact form to let us know.

Anhui Province

Mountain Biking
What: Huangshan Mountain Bike Festival
400 riders compete for four yellow jerseys on Yellow Mountain. The races will start at 9:30 and end around noon. The event is put on by Nordic Ways, and includes sightseeing tours for participants on Friday and Sunday, as well as a banquet, bonfire and local food festival.
Where: Hongcun in Huangshan, see directions here
Contact: www.nordicways.com
When: May 10, from 9:30 a.m. to noon
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Beijing

Golf
What: 2008 Pine Valley Beijing Open
Where: Pine Valley Golf Club, Beijing
When: May 8-11
Contact: www.pinevalleybeijingopen.com

Soccer
What: Chinese Super League, Beijing Guo'an v. Liaoning
Where: Fengtai Stadium
When: May 10, 7:30 p.m.
Tickets: 30,50, 80, 100 RMB

Contact: www.gaf.citic.com
6381-1576

Rugby

Beijing Rugby Cup
Beijing Devils v. Aardvarks
Where: Dulwich College
When: May 10, 2:30 p.m.
Free
Contact: www.beijingdevils.com

Shanghai

Tennis
What: Gemdale Cup International Tennis Tournament
Registration is closed to compete in this amateur tennis open, but admission is free for spectators. Players compete for 10,000 RMB in prize money.
Where: Gemdale Courts, No. 68 Rui Lin Lu, Nan Xiang Town, Jiading
When: Saturday and Sunday, May 10-11 9 a.m. to 5 p.m.

Gaelic Football
What: Shanghai Gaelic Football open training session.
Where: Luwan Stadium, 135 Jianguo Xi Lu, Luwan (near Shaan Xi Nan Lu)
Contact: Geoff, 6467-4239
www.shanghaifootballclub.com
When: Saturday May 10, 8-10 pm

Image: NordicWays

Tags: events

Torches Reach Mainland, Summit Everest

Friday, 9th May 2008 ~ Maggie ~ Link ~ Comments (0)

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The Olympic torch is now on the Chinese mainland, making its long final lap toward Beijing. One flame entered Sanya earlier this week, while the other summitted Mt. Everest, aka Mt. Qomolangma, yesterday morning. From the peak, climbers gave breathless television interviews before heading back down. Re-airing of the Everest coverage is still all over CCTV's sports and English channels today.

In Sanya, torchbearers included speed skating gold medalist Yang Yang and NBA basketball player Yi Jianlian.

Reminder: You can track the torch route here.

Tags: Olympic torch, Sanya, Yi Jianlian