SINGAPORE, Sept 5 (Reuters) – Shares of sports apparel maker China Sports International (CSIL.SI: Quote, Profile, Research, Stock Buzz) tumbled as much as 6.3 percent on Friday after Citigroup downgraded it to a “sell” from “buy” with a reduced target price of S$0.28.

Citigroup cited concerns over the firm’s ability to sustain robust growth in an increasingly competitive environment and said it expects China Sports International to trade at a steep discount to established peers like Li Ning (2331.HK: Quote, Profile, Research, Stock Buzz) due to its deteriorating earnings prospects beyond 2008.

It added it was unsure whether China Sports could increase sales as the firm derived its growth largely from low-income consumers who were likely to cut spending in view of rising inflation.

At 0638, China Sports was trading at S$0.30 with 1.3 million shares changing hands.

0639 GMT – Straits Times Index was down 1.99 percent

CHINA HONGXING FALLS AFTER CITI DOWNGRADE

Shares of Singapore-based China Hongxing Sports (CHXS.SI: Quote, Profile, Research, Stock Buzz) fell as much as 6.8 percent on Friday after Citigroup downgraded it to “sell” from “buy” with a revised target price of S$0.35.

Citigroup said that although the company has been delivering robust growth, it believed its rental financing scheme would continue to weigh on price performance. Citigroup also voiced concerns over the company’s ability to sustain its current efficient retail performance in view of slowing market growth and competition.

At 0258, China Hongxing was trading at S$0.35 with 4.8 million shares changing hands.

0259 GMT – Straits Times Index was down 1.78 percent. (Reporting by Brenda Goh; Editing by Jennifer Tan)

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About the Author:

There is a new way to get cheap fuel that is good for us all. How we have gotten to this new discovery is no secret.

The truth is that the United States accounts for about 44 percent of the world’s gasoline consumption. We drive more cars, more often and we’ve become dependent on fossil fuels about as stubbornly as a drug addicted is dependent on his or her next fix.

In 2003 The United States consumed over 119,000,000,000 gallons of gasoline which is an absurd amount of fuel to consume my any standard. Each day that equates to about 360 million gallons. The U.S. used about 138 billion gallons of gasoline in 2006. That’s when the pain and expense of our addiction began to rear its ugly head and the search for a cheaper alternative fuel source began to grow.

Fuel prices began to spike in 2006 but have been rising steadily since the start of 2008, especially in western countries such as Canada and the USA. From that time forward the words Cheap Gasoline or Cheap Gas became extinct like the dinosaurs.

From the mid 1980s to September 2003, the inflation adjusted price of a barrel of crude oil was generally under $25 per barrel. During 2004 the cost increased to more than $40, then $50 per barrel. A sequence of events pushed the price of oil to exceed $60 per barrel by August 11, 2005, and yet we still continued to consume gasoline at a gluttonous pace.

The price for a barrel of oil, for a short time, exceeded $75 in the middle of 2006, then fell back to $60 per barrel by the early part of 2007 only to jump steeply to $92/barrel by October 2007 and went to $99.29 per barrel for December 2007. All the way through the first half of 2008, oil frequently reached record high prices. On February 29, 2008, oil prices peaked at over the century mark at $103.05 per barrel for the first time in history despite there not being a gas shortage, but the price also for the first time in history was based not on consumption but on speculation of future markets.

It was reported that a barrel of oil was priced at $110.20 on March 12, 2008, which was the peak of six consecutive records in seven trading days. The most current price per barrel cost ceiling of $138.83 was set on June 6, 2008. Consumers no longer look for cheap gas, but are settling for cheaper gas, meaning it’s outlandishly high everywhere and saving .03 gallon has become a marvel to behold and be apart of in our economy.

Alternative fuel sources research, such as on Hydrogen as a fuel for cars and trucks has reached all time highs. The use of hydrogen fuel as a supplement to gasoline to run your car or truck is matching the rate of gasoline prices. Hydrogen is really the last true cheap fuel source because it is so abundant and the technology to separate it from water has become very fundamental and inexpensive to acquire.

Our enormous appetite for fuel, or addiction to big cars and trucks has seemingly met its match because for the first time in decades, due certainly to the highest costs of gasoline in the history of the world, Americans are now using less gasoline. In the United States, gasoline consumption dropped by 0.5% in the first two months of 2008 which was even higher than the .4% drop in consumption back in 2007.

Alternative cheap fuels such as ethanol and Hydrogen hybrids can be and are being built right at home. The one good thing about the higher prices of gasoline is that its forcing us to use a cleaner, a more reliable and a more abundant fuel sources that is better for our planet. After all, our planet is about 80% water and technology is finally able to tap into this cheap source of fuel just in the nick of time.


About the Author:

About Global Warming

Nowadays, global warming are becoming heavier and heavier, many people are the victims of this environmental problem. It is the fact that global warming is going to lead to a rise in human-beings’ sickness and death. According to a report, owing to the climbing average temperatures, there are at least 20,000 Europeans in August in 2003.It’s an astonishing number for every person so that we should do some actions to solve this problem.

I think there are several key affected by global warming as follows:

AIR we are used to thinking of industrial and traffic pollution as having a detrimental effect on air quality.

WATER and INSECTS are also the problems of which can affect global warming.

Don’t deny it anymore; we need to stop global warming!

Don’t deny that we are causing global warming; we need to stop global warming before it is too late. America and other governments do not want to admit they are the cause because they do not want to pay to fix the problem. They are hoping Nature will fix the problem and it will all go away or they hope that our children or grandchildren can solve the problem. We need to incorporate that famous statement “The buck stops here” and fix the problem.

Facts to be accepted On Global Warming

Global warming is a realistic threat to the very existence of life on earth. The unprecedented rise in earth’s average temperature is a cause for worry. Moreover, the rise in temperature is projected to continue in the same rate, if some urgent steps are not taken immediately. Global warming has already affected the pattern of climate in many places. Many of the recent floods, hurricanes and tsunamis are known to be a direct result of this phenomenon. Global warming is also contributing to the gradual rise in sea level in many places around the world. A collective effort on the part of all us is what is needed to stop global warming.

Can Global Warming Usher in the New Ice Age?

It’s quite possible that global warming may cause the new Ice Age. This paradox can be explained briefly in that the Gulf Stream current and the North Atlantic Drift (both are major warm-water currents in the northern hemisphere in the Atlantic Ocean) heat up the air around them which in turn prevents the temperature from dipping precipitously. However, with the currents being salt-based and with the rising temperatures causing massive ice melts, the onslaught of fresh water will dilute the salt therefore eliminating the warming effect of the two currents. Once these currents are shut down, the temperature will drop precariously in the northern hemisphere thus possibly ushering in another Ice Age.