- 123jump.com Staff
- 03 Apr, 2008
- New York City
Rising commodities prices in the region and a second-day rally in financial stocks lifted Hang Seng index 1.6% to 24,264. Stocks in Shanghai rose 3%. ADB, Asian Development Bank estimated Hong Kong growth of 4.5% and inflation of 3.4% in 2008. Apartment sales in shanghai were healthy in March and are expected to remain strong in the first half of the year.
- 123jump.com Staff
- 03 Apr, 2008
- New York City
A rally in commodities and trading companies lifted stocks in Japan. Financial and property stocks gained for the second day in a row. Nikkei 225 rose 1.52% or 200.54 to 13,389.90, while the broader Topix Index increased 1.4% or 17.57 at 1,299.64. Nippon Suisan led gainers in the Nikkei 225 index with a rise of 8.8% followed by rises in Sojitz Corp. of 7.40%, in Mitsui Sumitomo Insurance Group Holdings of 7%, in Obayashi Corp. of 6.8%, and T&D Holdings Inc of 6.6%.
- 123jump.com Staff
- 02 Apr, 2008
- New York City
European financial stocks rallied for the second day on the hopes that the regional banks are strong to withstand the ongoing credit market crisis in the U.s. Banks, insurance and brokers rallied. WestLB, third largest state controlled bank in Germany reported 2.1 billion assset write down in subprime loan portfolio. French caterer Sodex first half revenue rose 4% and earnings. AirFrance KLM and Alitalia broke off talks after they failed to agree on union proposal.
- 123jump.com Staff
- 02 Apr, 2008
- New York City
The Fed Chairman Bernanke comments raised a prospect of recession. He cautioned that the in the first half the economy will struggle and conditions for the U.S. economy will improve on fiscal stimulus. He hoped that inflation will moderate in the later part of the year. Crude oil and gasoline jumped after the inventory report showed a more than expected decline. Research in Motion jumped 4% after the close on earnings.
- 123jump.com Staff
- 02 Apr, 2008
- New York City
Financial stocks surged in Australia after a rally in the U.S. and European markets. Enthusiastic investors showed appetite for risk when Lehman and UBS offered to raise $19 billion. Macquarie Group surged 10% and National Australia Bank Ltd added 5.2% while Commonwealth Bank of Australia gained 4%. ANZ added 5% and Westpac was up 6.5%. Gindalbie Metals largest investor placed injunction on the sale of stock to cover margin call at a failed broker.
- 123jump.com Staff
- 01 Apr, 2008
- New York City
Mine workers at BHP mine in Colombia return after a month long strike but it may take one month to reach normal production. The mine will lose nearly 20% of its production in the current fiscal year. Roc Oil Company''s share fell 14% today after disclosing that a well drilled in the area may fail to produce oil. Iron ore miner Midwest Corp blamed its operating loss in the fiscal 2007 year on costs incurred in defending a failed $900 million takeover bid by Murchison.
- 123jump.com Staff
- 02 Apr, 2008
- New York City
Vehicle sales in March rose despite a rise in interest rate. Mahindra sales in March surged 20% and sales at Tata rose 6%. However, Bajaj sales of motorbikes fell 10% on stiff competition in the segment. Maruti earlier reported flat sales from a year ago. Tata Motors rose 1.5% and Mahindra gained 2.6%. Indiabull Securities fell to a new low today.
- 123jump.com Staff
- 02 Apr, 2008
- New York City
The Fed Chairman Bernanke said that conditions for economy will improve later in the year. He added that the economy may not grow and may even shrink for the first half of this year. The remarks kept stock market in check in the morning trading. Weekly crude oil inventories rose but that of gasoline fell sharply. CarMax rose after reporting lower than expected decline in earnings. Best Buy edged higher after its net income dropped 3.4%.
- 123jump.com Staff
- 02 Apr, 2008
- New York City
Stocks in Hong Kong surged after a steep rise in the U.S. indexes and an increase in European stock markets. Hang Seng Index retreated from a 4.6% increase in the morning to close up 3.20% or 734.97 at 23,872.43, and the China Enterprises Index rose 4.7% to 12,807.35. In Shanghai, CSI 300 fell 1% to 3.547.98. Investors in China continue to dump stocks. Net redemptions in investment funds in China fell by Rmb 17 billion.
- 123jump.com Staff
- 02 Apr, 2008
- New York City
Japanese stocks surged after tracking gains in the U.S. and Europe. More than 70% of trading on Tokyo Stock Exchange originates with foreign investors. Nikkei 225 rose 4.21% or 532.95 to 13,189.36, and the broader Topix Index gained 1.5% or 17.5 at 1,230.49. Of the Nikkei 225 index shares 214 gained, 8 declined and 3 were unchanged. Shinko Securities led advancers in the Nikkei 225 index shares with a surge of 14%.
- 123jump.com Staff
- 01 Apr, 2008
- New York City
Export from India in February rose 35% to $14 billion and imports gained 30% $18.5 billion lifting the traded deficit to $4.2 billion. The trade deficit in the first eleven months increased to $72.5 billion. Wholesale inflation, in the latest data, rose to 6.7%. Sensex index fell 0.11% or 17.8 to 15,626 and CNX Nifty gained 5 to 4,739.
- 123jump.com Staff
- 01 Apr, 2008
- New York City
European markets rallied after $15 billion capital infusion plan from UBS lifted investor mood. UBS also said that its long time chairman has been replaced by its general counsel Peter Kurer. However, Deutsche Bank wrote down 2.5 billion of asset backed securities. Switzerland index led the region with a rise of 3.7% followed by more than 3% rise in Spain and France.
Stora Enso and Astra Zeneca jumped more than 7% after brokers lifted their ratings on the companies.
- 123jump.com Staff
- 01 Apr, 2008
- New York City
U.S. stocks surged across market capitalization and industry sectors on rising optimism and investor appetite for risk. Gold and oil fell. Lehman Brothers raised its convetible preferred share offering to 4 million shares.UBS reported $12 billion in first quarter losses and proposed to raise $15 billion. Nasdaq surged 3.7% followed by a gain of 3.6% in S&P 500 and 3.2% in Dow Jones. Brazil, Mexico and European markets surged as well.
- 123jump.com Staff
- 01 Apr, 2008
- New York City
Stocks in Hong Kong advanced tracking gains in international markets but stocks in Shanghai continue to fall. Shanghai stocks have suffered the most in the last five months of trading and retail investors are bearing most of the losses. Mainland investors are worried that Chinese government will not support the stock market. Fear of more declines is driving Shanghai stocks lower.
- 123jump.com Staff
- 01 Apr, 2008
- New York City
Business confidence in Japan fell to a 4-year low as large and small manufacturers worry about the U.S. market for their products. Rising exports to Asia, Europe, and Middle East is helping businesses to cope with the expected decline in sales in the U.S. In Tokyo trading Nikkei 225 gained 1.04% or 130.88 to 12,656.42, and the broader Topix Index increased 1.5% or 17.53 to 1,230.49.