Australia Announces $5.6 Billion Flood Relief Package
Stocks in Sydney traded flat with mining stocks firming during the day. Premier Gillard announces a flood relief package of A$5.6 billion including a progressive tax levy. Crane Group enters into a two-day trading halt pending finalization of a revised...
Shanghai Index Gains 1.5%; Property Curbs Tightened Further
Shanghai stocks gained by nearly 1.5% while the key stock index in Hong Kong dropped on Wall Street concerns. China increased the upfront payment for second home buyers from 50% to 60% to cool prices. NRDC fines retail giants Carrefour and Wal-Mart for...
Sensex Drops 1.5% on Inflation; India and Indonesia Target $25 Billion Trade
Stocks in Mumbai tumbled 1.5% after the release of the latest weekly wholesale data. India and Indonesia set a bilateral trade target of $25 billion by 2015. SpiceJet said third quarter net declined 13% to $21 million from a year ago.
Nikkei Gains; Japan Trade Surplus Surges 153% in 2010
Japanese stocks closed higher ahead of earning outlook and U.S. economy. Trade surplus surges 153.4% to 6.77 trillion yen in 2010. Canon Inc full year net surges 87% to 246.6 billion yen. Toyota recalls 245,000 Lexus cars in the U.S.
China Region Indexes Lower on Weak Resource Sector
Shanghai and Hong Kong stocks edge lower for the second day in a row ahead of the Lunar New Year day. Shanghai City’s GDP expanded 9.9% in 2010. GM signs a two-year deal with Shanghai GM to export $900 million worth of autos and auto parts.
Nikkei Rises More Than 1%; Bank of Japan Holds Rates
Japanese stocks traded higher for the second day to gain the most in two weeks, led by chip stocks. Bank of Japan keeps key interest rate unchanged. Restaurant sales and domestic shipments of white goods rose in 2010 for the first time in two years.
Australian Inflation Up 2.7%, Stocks Gain
Stocks in Sydney gained for the second day after latest read on the core inflation was lower-than-expected. Oil Search and Newcrest Mining revise production guidance down citing temporary closing of plants and flooding of mines as the main causes.
India to Lift Interest Rates; Reliance, ICICI Net Surge
Stocks in Mumbai traded higher. ICICI Bank third quarter profit rose 30.5%. Insurance industry regulator confirmed that public offering guideline for life insurance companies will be ready in this fiscal year. New power plant addition target may be rev...
Sensex in India Gains 0.8%; ICICI Bank Q3 Net Surges 31%
Stocks in Mumbai traded higher. ICICI Bank third quarter profit rose 30.5%. Insurance industry regulator confirmed that public offering guideline for life insurance companies will be ready in this fiscal year. New power plant addition target may be rev...
China Region Stocks Drop; China Property Curbs Expanded
Shanghai and Hong Kong indexes lose on liquidity concerns ahead of Lunar New Year day. China’s economy is expected to expand 9.8% in 2011 with 3.7% inflation. China Petroleum & Chemical Corp crude oil production and refining rose sharply in 2010.
Nikkei Rises 0.7%; Japan Debt Estimated at 1,000 Trillion Yen by 2015
Japanese stocks gain for the first time in three days led by automakers. The Japanese Diet starts its 177th session today. Cabinet Office predicts the government debt is likely to touch 1,000 trillion yen by 2015. Toyota Motor sold 7.53 million vehicle...
Australian Flood Claims Surge to $1.2 Billion; Woolworths Cuts Outlook
Stocks in Sydney gain led by banks. Retailers closed lower. The PPI growth in December quarter was weaker-than-expected at 0.1%. Insurance claims from Queensland flood touch $1.2 billion. Rio Tinto expressed optimism for its $3.9 billion offer for Rive...
