Russian Blue Chips Might Dump London En Masse, Re-list in Hong Kong

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#1
taking sides - tit for tat, silver lining for the hongkies for their recent troubles. But I doubt the russians will list here though since we are allies with the Americans.

source: http://russia-insider.com/en/china_polit..._hong_kong

With East-West relations at rock bottom, Russia's leading blue chip companies are toying with the idea of abandoning the London Stock Exchange as the long preferred venue for listing their shares, and moving to Hong Kong.

In the last month, state-owned oil and gas giants Rosneft and Gazprom, together with privately owned oil producer Lukoil, have all said they are thinking about delisting from the LSE and floating on the Hong Kong Stock Exchange instead and denominating their stocks in Asian currencies, according to comments made by Russia's Economic Development Ministry on November 8.

"The largest Russian companies - Gazprom, Rosneft and Lukoil - are considering the Hong Kong Stock Exchange as a suitable trading floor to list their securities denominated in Asian currencies (the yuan, the Hong Kong and the Singaporean dollar)," the ministry said in a statement.

The banks are also talking the same game: Russia's state-owned de facto development bank Vnesheconombank says it may launch an affiliate in Hong Kong next year, while retail banking behemoth Sberbank and leading commercial bank Promsvyazbank are also considering opening branches in Hong Kong, the ministry said citing its head Alexei Ulyukayev.

The comments came as Russian President Vladimir Putin was in Beijing at the Asia-Pacific Economic Cooperation (APEC) summit, where he announced with his counterpart China's President Xi Jinping that the two countries would slowly abandon the dollar and use the yuan in mutual transactions, Kremlin spokesman Dmitry Peskov said on Sunday.

Both powers are keen to reduce the influence of the US in the global economy and are moving towards trading in their own currencies as part of the slow move to a multipolar world.

"Much attention has been paid to the topic of mutual payments in diverse fields ... in yuans which will help to strengthen the yuan as the region's reserve currency," Peskov said following a meeting held between Putin and Xi, as quoted by RIA Novosti.

Russia's economy minister Ulyukayev also announced this week that Russia was looking at China to replace the US and Europe as an alternative source of finance for Russian projects.

Currently only aluminium giant Rusal is listed in Hong Kong, after it made an IPO in January 2010 that raised $2.24bn.

For their part the Chinese investors in Hong Kong would be keen to see more natural resource companies' listings as their market is almost entire devoid of exposure to these commodity producers.
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#2
The trend is clear that Russia is leaning to the east. Russia had been hoping to use EUR to dislodge the USD, but times and alliance have obviously changed. Yuan will be a hard currency for global trades unlike Rubles.

What is more intriguing to me is how far the Chinese will go with this relationship. The enemy of my enemy is my friend is clear to the Chinese strategists, but there is a limit to that axiom.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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#3
Sounds interesting.


Sent from my iPhone using Tapatalki
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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#4
how to understand "UnderWorld" type of mentality... better stay clear lah... ultimately both Chings and Russians are of Communists roots... they will be good brothers and sisters.

Putin recently was so caring for Madam Xi leh...
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#5
I see the Americans are pushing into each other China and Russia together with the Iranians also. If your whole country kena economic sanctions you need to survive it somehow and provide your people so this is what they do band together by tapping each other's market resources and technology to survive. If they didn't do it they would be easy picking and snacks for the Americans.

At least there are some in the world dares to oppose I am of the view that there should be balance of power in all things. I see the US is no longer like white knight fair democratic coming to rescue today it seems more socialist and looks more like a raider.
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