The Shanghai market reopened this morning,Monday,after the Golden Week holiday.Taiwan's market was closed for National Day,however,and Japan's markets were shuttered for Sports Day.
Sinopec,China's largest oil refiner,is purchasing Canadian firm Daylight Energy for 2.2 billion dollars Canadian.Daylight owns extensive shale gas properties,as well as oil sands and conventional oil prospects.
It is the latest in a series of Chinese acquisitions of Canadian energy assets.Sinopec also bought a 45% stake in Syncrude for 4.5 billion,while another Chinese energy firm,Cnooc,is purchasing OPTI Canada for 2.1 billion.China is aggressively seeking energy assets globally with its huge foreign currency reserves.
Canada is America's biggest oil and refined oil supplier-a fact many Americans may be ignorant of.
Over the Golden Week holiday,air travel in China fell to 8.2%,but retail sales rose 18%.China has cut fuel prices for the first time this year to rein in inflation.
In Beijing on Monday,it was 64F under clear skies.The wind was NE at 4 mph,and the humidity was 45%.
Taiwan's Yani Tseng,the world number one in the Rolex rankings,won the LPGA HanaBank Championship at the Ocean Course of the Sky 72 Golf Club in Incheon,South Korea on Sunday.Korean Na Yeon Choi,the HanaBank winner from 2009-10,came in second.
Sinopec(SHI),Daylight Energy(TSX:DAY)
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