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Asia Stocks Mixed, Nikkei Down

admin — Mon, 06 Dec 2010 02:18:50 +0000

Hong Kong and Australian stocks were up, but China stocks fell sharply in the morning session due to severe winter storms. ZHANG: Asia stocks were mixed on Friday, as concerns eased over the financial health of top bond issuers in the US who had been hit by the subprime mortgage crisis. Japan’s Nikkei edged lower (decrease 0.7% to 13497 points) amid fears of poor US jobs data later in the day. A lower profit forecast by electronics giant Sony also weighed on the market, its shares falling over 8 percent. Analysts say a weakening US economy and a stronger yen could hurt profits of the maker of PlayStation 3 video game consoles. China stocks fell sharply in the morning session, as severe winter storms continued to cloud the economic outlook and hit transport networks across the country. PetroChina fell over four percent, dragging down the index. Elsewhere in Asia, markets rose slightly after one of the worst months on record. Recently battered Australian stocks were up 3.4 percent, as investors shopped for cheap bank and property stocks. Shares of mining firm BHP rose ahead of an anticipated new bid for peer firm Rio Tinto next week. Hong Kong’s benchmark Hang Seng index rose 2.9 percent, reacting to yesterday’s gains on Wall Street, and as investors went bargain hunting. Elsewhere in the region, Taiwan gained 2 percent, while South Korea edged up by 0.6 percent.

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Market Report – Asia Shares Shake Off Oil

admin — Sat, 24 Jul 2010 07:09:28 +0000

ZHANG: Asian shares were mostly higher Monday, as soaring oil and commodity prices actually boosted a number of regional-linked stocks. Australian shares posted a fourth straight gain, led by resource firms like Woodside Petroleum and top miner BHP Billiton. In Tokyo, the Nikkei hit a 4-month peak, led by Nippon Steel on reports that the company had agreed with automakers to hike sheet steel prices. Meanwhile, trading firms, as well as oil company Inpex Holdings, rose on the record oil prices. The Nikkei has now gained 22 percent from a year low in March. Taiwan stocks hit a fresh year peak, boosted on hopes of better economic conditions under the new President and possible stronger China business ties. But Seoul shares broke the upward trend, ending lower after the benchmark KOSPI touched a year peak last week. Technology bellwethers like Samsung Electronics fell, although profits outlooks were expected to support prices.

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Market Report – Asia Shares Cut Losses

admin — Mon, 28 Jun 2010 12:06:36 +0000

ANCHOR: Seoul shares ended lower after volatile trading today, led by automakers and some banks, with the positive impact of news of a US government-backed bailout of Citigroup lasting only briefly. Kia Motors plunged nearly 15 percent after South Korea’s No. 2 auto maker said it was paying off 300 million euros worth of debt due on Monday in cash. Chinese stocks dropped sharply on Monday, led by property shares, as concern about the market’s ability to absorb fresh supplies of equity outweighed optimism over China’s economic stimulus package. Hong Kong shares fell 1.2 percent, with financial stocks hit as the fate of US banking giant Citigroup remained undecided and on reports of a billion capital raising plan by Standard Chartered. The benchmark Hang Seng Index ended the morning session 150.68 points lower at 12508.52. Taiwan stocks fell a quarter of a percent as technology shares declined ahead of data due out later in the day that is expected to be gloomy. Investors largely ignored a Wall Street rally as they took cues from losses in other Asian stocks.

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JPMorgan’s Lewis Sees Stock Plunge as Buying Opportunity

admin — Sun, 09 May 2010 16:46:15 +0000

May 7 (Bloomberg) — Geoff Lewis, head of investment services at JP Morgan Asset Management, talks with Bloomberg’s Rishaad Salamat about the plunge in global stock markets and his investment strategy. US stocks tumbled the most in a year as waves of computerized trading exacerbated a selloff triggered by Europes debt crisis, sparking a slide in Asian shares. Lewis speaks from Hong Kong.

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Market Report – Asia Shares Cut Losses

admin — Fri, 28 Nov 2008 02:32:01 +0000

ANCHOR:
Seoul shares ended lower after volatile trading today, led by automakers and some banks, with the positive impact of news of a U.S. government-backed bailout of Citigroup lasting only briefly.

Kia Motors plunged nearly 15 percent after South Korea’s No. 2 auto maker said it was paying off 300 million euros worth of debt due on Monday in cash.

Chinese stocks dropped sharply on Monday, led by property shares, as concern about the market’s ability to absorb fresh supplies of equity outweighed optimism over China’s economic stimulus package.

Hong Kong shares fell 1.2 percent, with financial stocks hit as the fate of U.S. banking giant Citigroup remained undecided and on reports of a $3 billion capital raising plan by Standard Chartered.

The benchmark Hang Seng Index ended the morning session 150.68 points lower at 12,508.52.

Taiwan stocks fell a quarter of a percent as technology shares declined ahead of data due out later in the day that is expected to be gloomy.

Investors largely ignored a Wall Street rally as they took cues from losses in other Asian stocks.

Duration : 0:1:20

[youtube Oifja1EXOyU]

Market Report – Asia Shares Cut Losses

admin — Fri, 28 Nov 2008 02:32:01 +0000

Kia Motors plunged nearly 15 percent after South Korea’s No. 2 auto maker said it was paying off 300 million euros worth of debt due on Monday in cash.

Hong Kong shares fell 1.2 percent, with financial stocks hit as the fate of U.S. banking giant Citigroup remained undecided and on reports of a $3 billion capital raising plan by Standard Chartered.

The benchmark Hang Seng Index ended the morning session 150.68 points lower at 12,508.52.

Taiwan stocks fell a quarter of a percent as technology shares declined ahead of data due out later in the day that is expected to be gloomy.

Investors largely ignored a Wall Street rally as they took cues from losses in other Asian stocks.

Duration : 0:1:20

[youtube Oifja1EXOyU]

Market Report – Asia Stocks Tumble After GE Fall

admin — Mon, 24 Nov 2008 04:38:09 +0000

HANG: Asia stocks tumbled on Monday, with investors worried ahead of a heavy week of earnings and data.

Japan’s Nikkei fell 3 percent (12,918) in a broad-based sell-off that tracked Friday losses on Wall Street.

A nasty earnings surprise from U.S. giant General Electric and data showing U.S. consumer sentiment hit a 26-year low rattled investors across the globe.

China shares were also hurt, with Shanghai property firms among the biggest losers. Shanghai A shares lost 5.6 percent.

Worries about rising inflation have been spooking China investors, and fresh inflation data is due out later this week.

In Hong Kong, China plays such as China Mobile slumped after authorities stopped them from listing their shares in Shanghai amid weak sentiment. The Hang Seng index fell by 3.5 percent.

A slip in oil prices was one of the few bright spots for investors in the region. Oil slid below $110 a barrel after the dollar gained. The dollar rose following a warning on currency fluctuations from the G7 finance ministers.

Looking ahead, investors are eagerly awaiting earnings reports from big U.S. banks such as Citigroup, which will be released later in the week.

Duration : 0:1:29

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Market Report – Asia Stocks Up

admin — Thu, 20 Nov 2008 00:30:14 +0000

Most Asia markets gain on Tuesday; Shanghai markets fall after earthquake.

ZHANG:
Asian shares gained on Tuesday, led by banks, tech companies, and automakers.

Japan’s benchmark Nikkei (13953.73) climbed 1.5 percent for a second day of gains. Exporters like Sony were among the biggest winners. The world’s top auto maker Toyota edged up on news of plans to boost its production capacity.

China stocks traded in Shanghai fell after the worst earthquake in three decades. Estimates of the total losses in human life and property from the 7.9 magnitude earthquake are still rising. The earthquake will have financial repercussions as well. Sichuan province, where the quake hit the hardest, contains 40 percent of China’s natural gas deposits.

Analysts also predict that the quake could increase inflationary pressure. Inflation in China accelerated to 8.5 percent last month.

In monetary news, the dollar was steady as investors remained uncertain about the direction of U.S. interest rates. Oil prices, meanwhile, retreated as some investors saw a recent rally to record highs as excessive.

Duration : 0:1:29

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Market Report Asian Stocks Climb

admin — Tue, 18 Nov 2008 00:42:04 +0000

ANCHOR:
In Tokyo stock prices moved higher as exporters continued to make gains on the back of a weaker yen. Electronics maker Panasonic lead the gains. Shares in the company surged over 6 percent after a report said quarterly profits for the firm were likely to be better than expected.

Japan’s benchmark Nikkei finished the day 3.6 percent higher.

In China market shares dipped in morning trade after the government announced lackluster third quarter growth. The National Bureau of Statistics revealed that the nation’s GDP had slowed to 9 percent, more sharply than had been expected. Investors were heartened by the announcement.

In Korea news of the government’s 130 billion dollar bailout helped prevent share prices from sliding further. Seoul stocks saw modest gains helping the KOSPI index to close the day over 2 percent higher. The government plan seems to have eased investor fears but critics have said the measures are too weak
to reverse the stock market trend.

Duration : 0:1:4

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Market Report: Asia shares swing

admin — Tue, 18 Nov 2008 00:42:02 +0000

MARKET REPORT: Asia stocks swung on Wednesday as fears over a global recession crept back into investors minds.

A U.S. central bank official said the U.S. economy looked to be in recession.

The head of the Bank of Japan said global financial markets looked very strained.

Large exporters such as Honda Motors fell sharply. Rival Mazda’s stock also fell after a report that it has scrapped plans to build a second factory in
the U.S.

The Nikkei reversed steep falls and ended 1.1 percent higher.

China stocks were also largely weaker on worries about slowing global growth, especially because China’s momentum was slowing sharply even before the financial crisis.

Property and auto markets have slowed sharply in China, a further sign that China is not immune from a slowing world economy.

Anthony Trotter reporting for Reuters.

Duration : 0:0:56

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