Asian stock markets were mostly lower on Monday, with Japanese shares hitting a multi-week low, as weak manufacturing data from China and the unimpressive result of the quarterly Tankan survey drained investor confidence at the beginning of a new quarter.
The Nikkei Stock Average dropped 0.8% to 8,796.51 in Tokyo, after losing about 1.5% in the July-September quarter, while the broader Topix Index shed 0.7% to 732.35.
The S&P/ASX 200 Index ended fractionally higher at 4,388.60 in Sydney, with markets looking ahead to Tuesday’s interest-rate decision by the Reserve Bank of Australia.
Stock markets in Hong Kong, mainland China and …
Posted by byu2012 on October 4, 2012
Asian markets were mostly higher early Monday with investors balancing mixed Chinese economic data against rising hopes for stimulus measures from the Federal Reserve following Friday’s weaker-than-expected U.S. jobs data, while a stronger yen limited the upside for Japanese stocks.
Markets were digesting Chinese economic data released over the weekend that showed industrial production continued to slow in August, up 8.9% on year compared with July’s 9.2% rise, its lowest rate since May 2009. The Consumer Price Index added 2.0% on year in August, up from 1.8% in July.
Now that the European Central Bank has unveiled its bond-buying plan to address Europe’s debt crisis, attention is on the U.S. Federal Reserve, and whether it will launch a new round of quantitative easing at its two-day policy meeting set to commence on Wednesday. U.S. employment data released on Friday failed to meet expectations and strengthened hopes that the Fed will introduce fresh stimulus measures this week.
Posted by byu2012 on September 12, 2012
Asian stocks rose, with the regional benchmark index heading for a third day of advance, as reports from the U.S., China and Japan that showed slowing growth in the world’s biggest economies stoked speculation central banks will add to stimulus measures.
Samsung Electronics Co., the world’s biggest mobile-phone maker by sales, gained 1 percent in Seoul. Rio Tinto Group (RIO), the world’s third-largest mining company, climbed 3.8 percent in Sydney as copper futures headed for a second day of advance. Lend Lease Group, Australia’s No. 1 property developer, sank 4.7 percent after disclosing discrepancies in two projects.
The MSCI Asia Pacific Index rose 0.1 percent to 119.26 as of 11:13 a.m. in Tokyo, with almost five shares rising for every four that fell. The gauge posted its biggest advance this year on Sept. 7 after the European Central Bank unveiled a bond- buying program and China boosted stimulus measures.
“Following the weak U.S. jobs report, the backdrop is ideal to act this week and deliver more quantitative easing,” said George Boubouras, Melbourne-based head of investment strategy at UBS AG’s Australian wealth management unit. The Swiss bank has about $1.5 trillion in assets under management. “This week is looking like the last window for the Fed to act,” before the U.S. election.
Posted by byu2012 on September 12, 2012
NEXT week marks the fourth anniversary of one of the most momentous events in the world’s financial history the fall of US banking giant Lehman Brothers, which unleashed a negative chain reaction across the global financial system and pushed the world’s economy to the brink of collapse.
Looking back at how the events unfolded in 2008 and the subsequent year, one has to appreciate the fact that if not the trillions of dollars spent on stimulus packages by governments worldwide, and the swift action by major central banks in cutting interest rates and easing their monetary policies, the world would not have been able to pull itself out of what some economists call the “abyss”.
While it has been some years now since the global economy recovered from that crisis, there’s little to celebrate. We are still not out of the woods, and reforms, as promised by policymakers worldwide, have not been able to keep pace with the rapidly changing environment.
Posted by byu2012 on September 10, 2012
HONG KONG (MarketWatch) — Mainland Chinese and Hong Kong stocks posted their strongest performance in more than seven months on Friday after Beijing announced a slate of new infrastructure projects to spur a slowing economy.
Other Asian markets also rallied because of a celebratory mood in global markets after the European Central Bank unveiled an expansive bond-buying plan to stabilize markets, and as investors looked ahead to a U.S. jobs report with optimism.
The Shanghai Composite CN:000001 +3.70% surged 3.7% and Hong Kong’s Hang Seng Index HK:HSI +3.09% climbed 3.1%, each recording their best single-day percentage gain since mid-January.
Sentiment was bolstered as China authorities pushed out infrastructure projects aimed at providing stimulus to the cooling economy.
Posted by byu2012 on September 7, 2012
BANGKOK: Asian stock markets fell on Tuesday as uncertainty persisted about what authorities in the U.S., China and Europe might do to deal with a souring global economy.
The previous day’s trading was dominated by a survey suggesting that China’s manufacturing sector was contracting. Though a bad sign for the global economy, the data raised expectations that Chinese authorities will announce additional measures to bolster growth.
But the People’s Bank of China appears to be resisting calls for more aggressive measures after the huge stimulus in response to the 2008 global financial crisis fueled inflation and a wasteful spending boom.
“We are all waiting for more monetary policy to come out,” said Linus Yip, strategist at First Shanghai Securities in Hong Kong. “We are all waiting and hope the PBOC will do something.”
Japan’s Nikkei 225 index fell 0.1 percent to 8,773.14. Hong Kong’s Hang Seng lost 0.3 percent to 19,497.47 and South Korea’s Kospi shed 0.2 percent to 1,907.70. Australia’s S&P/ASX 200 fell 0.6 percent to 4,303.30.
Posted by byu2012 on September 5, 2012
Asian markets fell Thursday, a day before Federal Reserve Chairman Ben Bernanke’s much-anticipated Friday speech at Jackson Hole, Wyoming, and as weakness in resources pushed Australia to a two-week low.
“What seems to be the preferred trade at the moment is taking off the positions that people don’t need to have ahead of the announcements over the weekend,” said Tahnoon Pasha, chief executive officer for Asia equities and fixed income at Aviva Investors, which manages just under $6 billion out of its Singapore office.
Australia’s S&P ASX 200 fell 0.9% to 4315.7 as the price of iron ore continued to drop, falling 4.7% overnight to its lowest price since November 2009. There was weakness in other metals as well, which translated into poor performances by mining stocks. Rio Tinto was down 3.8% and BHP Billiton BLT.LN -3.26% lost 2.4%.
News that Fortescue Metals Group chairman Andrew Forrest had bought some of the company’s stock this week did not stop its share price falling 1.6%. Atlas Iron slid 5.5%.
In Hong Kong, the Hang Seng Index fell 1.2% to 19552.91 on renewed concerns over the Chinese economy, while local property developers were hit by fears the government could intervene to cool the property market. Cheung Kong lost 2.7% and Henderson Land Development slipped 3.4%.
Posted by byu2012 on August 31, 2012
Asian markets ended mostly lower as gloom from China’s economy offset hope for moves by central banks to bolster the global economy.
A fresh set of poor economic data from China damped sentiment in the region. Profits at China’s major industrial enterprises dropped 5.4% in July from a year earlier, while HSBC downgraded its 2012 forecast for Chinese growth to 8% from 8.4%.
Stocks in the mainland were the most affected. The Shanghai Composite Index fell 1.7% to 2055.71, its lowest closing level since February 2009.
“Investors were overly optimistic that the economy would pick up during the third quarter,” said Zeng Xiaozhao, an analyst at Everbright Securities.
The poor performance of stocks in mainland China had an impact in Hong Kong, where the Hang Seng Index fell 0.4% to 19798.67.
Posted by byu2012 on August 27, 2012
Asian stocks rose this week, with the benchmark index posting its longest weekly winning streak since March, after China’s Premier Wen Jiabao said there’s more room to adjust monetary policy and U.S. economic reports signaled strength in the world’s largest economy.
Fanuc Corp., a maker of industrial robots used in Chinese factories, gained 5.8 percent this week in Tokyo. Honda Motor Co., which depends on North America for more than 40 percent of its sales, climbed 5.8 percent. Nan Ya Printed Circuit Board Corp., a Taiwanese maker of computer hardware, surged 12 percent after a report the industry will grow. China Mobile Ltd., the world’s biggest phone company by subscribers, sank 7.8 percent in Hong Kong as profit growth slowed.
The MSCI Asia Pacific Index rose for a third-straight week, gaining 0.2 percent to 120.74 in its longest winning streak since the five days ended March 2. Through yesterday, the Asia- Pacific benchmark has retreated more than 6 percent from a Feb. 29 high amid concern China’s economy is slowing and Europe’s debt crisis is deepening.
Posted by byu2012 on August 18, 2012
Investment Europe-Chiara Albanese said that between June and July, the index rose by 0.7 points, reaching 94.
“Confidence among both North American and European investors ticked downwards, while sentiment among Asian investors was slightly improved,” State Street said.
The North American ICI declined 0.6 points from June’s to settle at 93.1, while the European ICI fell 0.5 points from June, reaching 101.7. Meanwhile, the Asian ICI was up 0.8 points from June, reaching 91.
“The message being sent by institutional investors this month is one of cautionh. The pick-up in equity buying that we noted last month proved short-lived, and flows had turned negative by the end of our July sample,” said Harvard University professor Kenneth Froot, who developed the index with Paul O’Connell of State Street Associates.
O’Connell added: “Although there was a small uptick in Asian investor confidence this month, on a relative basis, the index for that region remains the most bearish, 9 points below the neutral level of 100.”
Posted by Admin on July 31, 2012