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05.24
World stock markets rose as soaring growth of China Manufacture
Written By mine on Senin, 01 November 2010 | 05.24
World stock market rise driven by faster growth in Chinese manufacturing and expectations the U.S. central bank will pump more money into the largest economy in the world to rejuvenate a sluggish recovery.
In early European trading, Britain's FTSE 100 index rose 0.6 percent to 5,707.74. Germany's DAX rose 0.7 percent to 6,648.31 and France's CAC-40 added 0.8 percent to 3,863.11. Benchmark crude for December delivery rose 41 cents at $ 81.84 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 75 cents to settle at $ 81.43 on Friday.
Wall Street set for higher open, with Dow futures up 56 points, or 0.5 percent, to 11,122.00. In currencies, the dollar rose against the yen but weakened against the euro.
China shares rebound, supported by surveys showing that growth in manufacturing accelerated in October as spending on orders spur infrastructure for new equipment.
Shanghai Composite Index rose 2.5 percent, or 75.19 points to 3,054.02. Shenzhen Composite Index of China's smaller markets, both jumped 2.9 percent to 1,341.84. Resource stocks were among the strongest gainers in Shanghai.
Shandong Gold Mining Co. rose 6.2 percent while the Aluminum Corporation of China Ltd, or Chalco, advanced 3.2 percent.
Hong Kong's Hang Seng index jumped 2.4 percent to 23,652.94 and South Korea's Kospi rose 1.7 percent to 1,914.74. Australia's S & P / ASX 200 rose 0.8 percent to 4,698.50.
Japan's Nikkei 225 stock average against the trend, falling 0.5 percent to close at 9,154.72.
Markets in New Zealand and Indonesia also fell, while Singapore, Taiwan, India, Philippines and Malaysia posted a profit.
On average, the Dow Jones industrial on Friday rose 4.54, or 0.1 percent, to close at 11,118.49. Standard and Poor's 500 Index fell 0.52, or 0.1 percent, to 1,183.26.
Despite a soft finish, both U.S. indexes rose more than 3 percent for the month.
In currencies, the dollar rose to 80.46 yen from 80.31 yen. The euro rose to $ 1.3957 from $ 1.3945.
U.S. gross domestic product grew by only 2 percent annual pace in the three months to September, slightly faster than the previous quarter but not enough to reduce unemployment, which is hovering near 10 percent.
Which showed weak underlines expectations that Fed policy meeting ended Wednesday will announce a state bond purchase program, known as quantitative relieve, to inject more liquidity into the economy.
Optimistic sentiment reinforced by the expectation that the U.S. Federal Reserve will pump more money into the world's biggest economy to boost its weak recovery.
Trading volume was relatively quick as Fed awaited market action this week, according to Jackson Wong, vice president at Tanrich Securities in Hong Kong.
"It seems that sentiment has turned into a positive direction," he said. "The market is remaining positive ahead of Fed announcement." Those who shorted stocks last week will try to avoid losses by trying to buy the stock today, "he said.
Oil prices rose near $ 82 per barrel after release of the survey showed a jump in China's manufacturing sector for October, especially in orders for new equipment.
In early European trading, Britain's FTSE 100 index rose 0.6 percent to 5,707.74. Germany's DAX rose 0.7 percent to 6,648.31 and France's CAC-40 added 0.8 percent to 3,863.11. Benchmark crude for December delivery rose 41 cents at $ 81.84 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 75 cents to settle at $ 81.43 on Friday.
Wall Street set for higher open, with Dow futures up 56 points, or 0.5 percent, to 11,122.00. In currencies, the dollar rose against the yen but weakened against the euro.
China shares rebound, supported by surveys showing that growth in manufacturing accelerated in October as spending on orders spur infrastructure for new equipment.
Shanghai Composite Index rose 2.5 percent, or 75.19 points to 3,054.02. Shenzhen Composite Index of China's smaller markets, both jumped 2.9 percent to 1,341.84. Resource stocks were among the strongest gainers in Shanghai.
Shandong Gold Mining Co. rose 6.2 percent while the Aluminum Corporation of China Ltd, or Chalco, advanced 3.2 percent.
Hong Kong's Hang Seng index jumped 2.4 percent to 23,652.94 and South Korea's Kospi rose 1.7 percent to 1,914.74. Australia's S & P / ASX 200 rose 0.8 percent to 4,698.50.
Japan's Nikkei 225 stock average against the trend, falling 0.5 percent to close at 9,154.72.
Markets in New Zealand and Indonesia also fell, while Singapore, Taiwan, India, Philippines and Malaysia posted a profit.
On average, the Dow Jones industrial on Friday rose 4.54, or 0.1 percent, to close at 11,118.49. Standard and Poor's 500 Index fell 0.52, or 0.1 percent, to 1,183.26.
Despite a soft finish, both U.S. indexes rose more than 3 percent for the month.
In currencies, the dollar rose to 80.46 yen from 80.31 yen. The euro rose to $ 1.3957 from $ 1.3945.
U.S. gross domestic product grew by only 2 percent annual pace in the three months to September, slightly faster than the previous quarter but not enough to reduce unemployment, which is hovering near 10 percent.
Which showed weak underlines expectations that Fed policy meeting ended Wednesday will announce a state bond purchase program, known as quantitative relieve, to inject more liquidity into the economy.
Optimistic sentiment reinforced by the expectation that the U.S. Federal Reserve will pump more money into the world's biggest economy to boost its weak recovery.
Trading volume was relatively quick as Fed awaited market action this week, according to Jackson Wong, vice president at Tanrich Securities in Hong Kong.
"It seems that sentiment has turned into a positive direction," he said. "The market is remaining positive ahead of Fed announcement." Those who shorted stocks last week will try to avoid losses by trying to buy the stock today, "he said.
Oil prices rose near $ 82 per barrel after release of the survey showed a jump in China's manufacturing sector for October, especially in orders for new equipment.
01.48
Commodity Producers Boosted Asian Stock Market
Written By mine on Selasa, 14 September 2010 | 01.48
Commodity producers as a forecast for faster European economic growth boosted confidence in a global recovery. Japanese shares fell on concern the yen trading near a 15-year high against dollar will erode the nation?s export earnings.
BHP Billiton Ltd., the world?s largest mining company, climbed 1.3 percent in Sydney after commodity prices increased. Toyota Motor Corp. lost 1.7 percent in Tokyo on speculation the nation?s Prime Minister Naoto Kan would survive a leadership challenge from Ichiro Ozawa, who advocated intervention to weaken the yen. East Japan Railway Co. sank 2.4 percent after its investment rating was cut by Deutsche Bank AG. BHP gained 1.3 percent to A$39.05, the biggest contributor to the MSCI Asia Pacific Index?s advance. Mitsubishi Corp., Japan?s biggest trading company, advanced 1 percent to 1,902 yen in Tokyo. Jiangxi Copper Co., China?s No. 1 producer of the metal, rose 0.7 percent to HK$18.48 in Hong Kong.
MSCI Asia Pacific Index gained 0.2 percent to 124 as of 5:09 p.m. in Tokyo. About five stocks fell for every four that rose on the gauge, which earlier rose as much as 0.4 percent. The measure has climbed 7 percent from a one-month low on Aug. 25 amid speculation the U.S. will avoid slipping into its second recession in three years. A gauge of financial companies in the MSCI Asia Pacific Index that includes banks rose 0.4 percent. The finance index climbed 2 percent yesterday after regulators agreed following a meeting in Basel, Switzerland to more than double capital requirements for the world?s banks, while giving them as long as eight years to comply in full.
MSCI Asia Pacific Index tumbled as much as 16 percent from its high this year on April 15 as concerns intensified over the strength of global growth. It has rallied 14 percent since May 25, with gains accelerating in the past two weeks as U.S. data fueled optimism demand for Asian-made products will increase in the world?s largest economy. Stocks in the MSCI Asia Pacific Index trade at 14 times estimated earnings on average, compared with 13.4 times for the S&P 500 Index and 12 times for the Stoxx Europe 600 Index.
Japan?s Nikkei 225 Stock Average and South Korea?s Kospi index lost 0.2 percent. Australia?s S&P/ASX 200 Index advanced 0.3 percent. Hong Kong?s Hang Seng Index gained 0.2 percent.China?s Shanghai Composite Index closed little changed as Premier Wen Jiabao said the nation?s economy is in ?good shape? and the government will curb property market speculation.
Futures on the Standard & Poor?s 500 Index slipped 0.2 percent. The index climbed 1.1 percent yesterday in New York to the highest level in a month after China reported an increase in industrial production and the European Commission said Europe?s economy may grow almost twice as fast as previously forecast this year. Raw-material producers gained today after copper futures and crude-oil prices rose in New York yesterday boosted optimism that global economic growth will raise demand for commodities.
Gross domestic product in the 16-nation euro region may increase 1.7 percent this year instead of the 0.9 percent projected at the depth of Europe?s fiscal crisis in May, the Brussels-based commission said in a report published yesterday. Crude oil for October delivery climbed 1 percent to $77.19 a barrel yesterday in New York, the highest settlement price since Aug. 11. The London Metal Exchange Index of six metals including aluminum and copper jumped 1.8 percent yesterday, the first gain in three days.
Banks advanced for a second straight day as regulators gave them more time than analysts expected to comply with stiffer capital requirements aimed at preventing future financial crises. United Microelectronics Corp., the world?s second-biggest contract chipmaker, jumped 1.8 percent to NT$13.95. The Taiwan High Court upheld an acquittal of former Chairman Robert Tsao, the Central News Agency reported.
Mitsubishi UFJ Financial Group Inc., Japan?s biggest publicly traded bank, climbed 0.7 percent to 414 yen. In Hong Kong, HSBC Holdings Plc added 0.6 percent to HK$81.05, while Industrial & Commercial Bank of China Ltd. rose 1.5 percent to HK$5.93.
Banks in Asia have high capital ratios and will be able to avoid the degree of fundraising needed elsewhere to meet the new international standards, Zhu Min, a former deputy governor of China?s central bank and vice president of Bank of China Ltd., told Bloomberg Television yesterday.
Japanese automakers and consumer electronics companies fell as the yen strengthened on the prospect of Kan beating Ozawa in a vote by members of the ruling Democratic Party of Japan. Kan won the ballot, the results of which were announced after the stock market closed, sending the yen as high as 83.09 against the dollar. That?s the strongest level since May 1995. East Japan Railway, Japan?s biggest railway operator, lost 2.4 percent to 5,360 yen, its lowest level since April 2009 and the third-biggest drag on the MSCI Asia Pacific Index. The rail operator was cut to ?hold? from ?buy? at Deutsche Bank.
Toyota, the world?s largest carmaker, retreated 1.7 percent to 2,899 yen and was the heaviest drag on the MSCI Asia Pacific Index. Sony Corp., which receives 73 percent of its sales outside of Japan, lost 0.7 percent to 2,494 yen. Sharp Corp., which gets nearly half of its sales abroad, lost 0.8 percent to 828 yen. ?Current market trends will continue because there is likely to be no new economic policies that would reverse the yen?s appreciation,? said Norihiro Fujito, a strategist at Mitsubishi UFJ Morgan Stanley Securities Co. in Tokyo.
BHP Billiton Ltd., the world?s largest mining company, climbed 1.3 percent in Sydney after commodity prices increased. Toyota Motor Corp. lost 1.7 percent in Tokyo on speculation the nation?s Prime Minister Naoto Kan would survive a leadership challenge from Ichiro Ozawa, who advocated intervention to weaken the yen. East Japan Railway Co. sank 2.4 percent after its investment rating was cut by Deutsche Bank AG. BHP gained 1.3 percent to A$39.05, the biggest contributor to the MSCI Asia Pacific Index?s advance. Mitsubishi Corp., Japan?s biggest trading company, advanced 1 percent to 1,902 yen in Tokyo. Jiangxi Copper Co., China?s No. 1 producer of the metal, rose 0.7 percent to HK$18.48 in Hong Kong.
MSCI Asia Pacific Index gained 0.2 percent to 124 as of 5:09 p.m. in Tokyo. About five stocks fell for every four that rose on the gauge, which earlier rose as much as 0.4 percent. The measure has climbed 7 percent from a one-month low on Aug. 25 amid speculation the U.S. will avoid slipping into its second recession in three years. A gauge of financial companies in the MSCI Asia Pacific Index that includes banks rose 0.4 percent. The finance index climbed 2 percent yesterday after regulators agreed following a meeting in Basel, Switzerland to more than double capital requirements for the world?s banks, while giving them as long as eight years to comply in full.
MSCI Asia Pacific Index tumbled as much as 16 percent from its high this year on April 15 as concerns intensified over the strength of global growth. It has rallied 14 percent since May 25, with gains accelerating in the past two weeks as U.S. data fueled optimism demand for Asian-made products will increase in the world?s largest economy. Stocks in the MSCI Asia Pacific Index trade at 14 times estimated earnings on average, compared with 13.4 times for the S&P 500 Index and 12 times for the Stoxx Europe 600 Index.
Japan?s Nikkei 225 Stock Average and South Korea?s Kospi index lost 0.2 percent. Australia?s S&P/ASX 200 Index advanced 0.3 percent. Hong Kong?s Hang Seng Index gained 0.2 percent.China?s Shanghai Composite Index closed little changed as Premier Wen Jiabao said the nation?s economy is in ?good shape? and the government will curb property market speculation.
Futures on the Standard & Poor?s 500 Index slipped 0.2 percent. The index climbed 1.1 percent yesterday in New York to the highest level in a month after China reported an increase in industrial production and the European Commission said Europe?s economy may grow almost twice as fast as previously forecast this year. Raw-material producers gained today after copper futures and crude-oil prices rose in New York yesterday boosted optimism that global economic growth will raise demand for commodities.
Gross domestic product in the 16-nation euro region may increase 1.7 percent this year instead of the 0.9 percent projected at the depth of Europe?s fiscal crisis in May, the Brussels-based commission said in a report published yesterday. Crude oil for October delivery climbed 1 percent to $77.19 a barrel yesterday in New York, the highest settlement price since Aug. 11. The London Metal Exchange Index of six metals including aluminum and copper jumped 1.8 percent yesterday, the first gain in three days.
Banks advanced for a second straight day as regulators gave them more time than analysts expected to comply with stiffer capital requirements aimed at preventing future financial crises. United Microelectronics Corp., the world?s second-biggest contract chipmaker, jumped 1.8 percent to NT$13.95. The Taiwan High Court upheld an acquittal of former Chairman Robert Tsao, the Central News Agency reported.
Mitsubishi UFJ Financial Group Inc., Japan?s biggest publicly traded bank, climbed 0.7 percent to 414 yen. In Hong Kong, HSBC Holdings Plc added 0.6 percent to HK$81.05, while Industrial & Commercial Bank of China Ltd. rose 1.5 percent to HK$5.93.
Banks in Asia have high capital ratios and will be able to avoid the degree of fundraising needed elsewhere to meet the new international standards, Zhu Min, a former deputy governor of China?s central bank and vice president of Bank of China Ltd., told Bloomberg Television yesterday.
Japanese automakers and consumer electronics companies fell as the yen strengthened on the prospect of Kan beating Ozawa in a vote by members of the ruling Democratic Party of Japan. Kan won the ballot, the results of which were announced after the stock market closed, sending the yen as high as 83.09 against the dollar. That?s the strongest level since May 1995. East Japan Railway, Japan?s biggest railway operator, lost 2.4 percent to 5,360 yen, its lowest level since April 2009 and the third-biggest drag on the MSCI Asia Pacific Index. The rail operator was cut to ?hold? from ?buy? at Deutsche Bank.
Toyota, the world?s largest carmaker, retreated 1.7 percent to 2,899 yen and was the heaviest drag on the MSCI Asia Pacific Index. Sony Corp., which receives 73 percent of its sales outside of Japan, lost 0.7 percent to 2,494 yen. Sharp Corp., which gets nearly half of its sales abroad, lost 0.8 percent to 828 yen. ?Current market trends will continue because there is likely to be no new economic policies that would reverse the yen?s appreciation,? said Norihiro Fujito, a strategist at Mitsubishi UFJ Morgan Stanley Securities Co. in Tokyo.
