Business news for Thu, 20 Dec 2007 & with word gained. 7 news.

CHINA Cosco Holdings Ltd, Asia's largest container line, boosted its profit forecast for this year because of improved demand for shipping services. The shares rose. China Cosco gained 2.03 percent to close at HK$22.60 (US$2.75) yesterday in Hong Kong, after earlier climbing as much as 7.7 percent. The stock has surged more than fivefold this year, beating the 36 percent advance of the benchmark Hang Seng Index, Bloomberg News reported. Net income will probably jump ninefold this year to 18 billion yuan (US$2.44 billion), according to a China Cosco statement to Shanghai Stock Exchange yesterday. Profit is likely to be 50 percent higher than a forecast of 12.17 billion yuan made in September, based on international accounting standards, the company said. "Dry-bulk shipping will be the main profit driver for the company," said Stella Kei, a Hong Kong-based analyst at UOB Kay Hian Ltd. "The market looks good for 2008 and 2009 on strong demand for iron ore and

BIG-CAP counters led gainers as Shanghai stocks rallied for a second day yesterday. The Shanghai Composite Index, which covers yuan-denominated A shares and hard currency B counters, soared 2.06 percent to end at 5,043.54. The index reached an intraday high of 5,050.79. Turnover totaled 89.52 billion yuan (US$12.09 billion), a tad higher than 87.93 billion yuan on Wednesday. Gainers outnumbered losers 617 to 178, with 105 counters unchanged. "The local market is regaining its momentum with banking and property stocks recouping," said Tang Xiaowu, an analyst at Huatai Securities Co. "Moreover, consumer-related stocks such as auto, food and medicine companies are witnessing an even stronger rebound." Shanghai Pudong Development Bank Co, the Chinese partner of Citigroup Inc, jumped 4.3 percent to 49.41 yuan. China Merchants Bank Co, the country's sixth-largest in terms of assets and also the biggest dual-currency credit-card issuer, gained 2.4 percent to 37.81

THE SCMP Group Ltd, publisher of the South China Morning Post newspaper, rose the most in more than four years in Hong Kong after the company received a HK$2.37 billion (US$304 million) buyout offer from parent Kerry Group. The shares gained as much as 8.8 percent, the biggest increase since September 24, 2003, to HK$2.72 at the end of trading. Kerry Group, owned by billionaire Kuok, offered HK$2.75 a share to buy the 55.1 percent of the stock that it doesn't already control, 10 percent more than the last traded price before it was suspended on December 13, Bloomberg News reported. The company's profit doubled in the past five years as growth in Hong Kong's economy boosted demand from advertisers. SCMP shares have hovered near record lows since June when the city's government relaxed rules that required public companies to publish corporate announcements in newspapers, which made up about 12 percent of the South China Morning Post's ad revenue last year. "SCMP's earnings

Real estate mogul Sam Zell proves his doubters wrong: He's gained control of one of the nation's largest media companies.

NEW YORK (MarketWatch) --U.S. stocks opened firmly higher Thursday, after software-maker Oracle Corp. posted a 35% profit rise, lifting the whole technology sector, while investors looked past Bear Stearns' first-ever quarterly loss. The Dow Jones Industrial Average gained 61 points to 13,268, receiving a lift from its technology and financial components. The S&P 500 index rose 7.7 points to 1,460, while the Nasdaq Composite gained 22 points to 2,623.

A BROAD-BASED rally among blue chips pushed the Shanghai index higher for a second day today thanks to a strengthening yuan after the United States Treasury said China was not manipulating its currency. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, jumped 2.06 percent, or 101.76 points, to 5,043.54 at 3pm today. Gainers in the Shanghai market outnumbered losers 609 to 141 while 96 were unchanged. The Shenzhen Composite Index, which covers the smaller mainland stock market, gained 1.37 percent, or 18.3 points, to 1,357.39. Property developers and banks benefited the most from the appreciation of the Chinese currency as their assets are primarily denominated in yuan. Shanghai Pudong Development Bank Co, the Chinese partner of Citigroup Inc, added 4.31 percent, or 2.04 yuan (28 US cents), to 49.41 yuan. Shanghai Pudong Development Bank, whose shares have gained 126 percent this year, plans to raise six billion yuan selling

DOMESTIC stocks rose this morning, bouncing back above 5,000 points as blue chips across the board continued yesterday's rally. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, jumped 1.69 percent, or 83.64 points, to 5,025.42 at 11:30am today. Gainers in the Shanghai market outnumbered losers 612 to 139 while 95 were unchanged. The Shenzhen Composite Index, which covers the smaller mainland stock market, gained 1.30 percent, or 17.38 points, to 1,356.47. Property developers and banks were among the gainers in the early session on expectations a strengthening local currency will boost demand for yuan-priced assets. Shanghai Pudong Development Bank Co, the Chinese partner of Citigroup Inc, added 4.12 percent, or 1.95 yuan (26 US cents), to 49.32 yuan. Shenzhen Development Bank Co, controlled by buyout company TPG Inc, rose 3.42 percent, or 1.22 yuan, to 36.94 yuan. Shanghai Pudong Development Bank, whose shares have gained 126