Business Recorder

Loading Stock data...

Asia

Archive

TOKYO; Markets extended gains on Tuesday with investors hunting for bargains after prices reclaimed some ground off 2012 lows, as hopes grew that Europe would embark on fresh action to tackle its debt crisis while promoting growth. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1.2 percent, having recovered the previous day from a plunge to a 2012 low on Friday. Its top performers included the technology, industrials and materials sectors, all of which had been battered in recent sessions by fears over Greece's departure from the euro bloc and global growth slowdown. Australian shares gained 0.9 percent as investors picked up miners and mining services companies on expectations China will undertake further stimulus as it makes maintaining expansion a priority. "Last week was quite brutal in terms of the selling ... Was that totally necessary?," said Martin Angel, a dealer at Patersons Securities, adding that BHP, Rio Tinto and gold miners had ...
Banner

COLOMBO: Sri Lankan stocks fell on Monday in thin volume as investors awaited direction on the political front from the release of former army chief Sarath Fonseka, who is President Mahinda Rajapaksa's highest-profile rival. Sri Lanka's former army chief walked free from jail on Monday with a pardon from President Rajapaksa, who appears to have bowed to growing international demands. The trading volume slumped to a five week low as investors stayed sidelined to see if there will be any significant changes politically after the release of Fonseka, who has been an ardent critic of Rajapaksa's economic policies. "But Fonseka cannot do anything immediately, though the hype has boosted the market last week," said a stockbroker on condition of anonymity. The main share index edged down 0.3 percent, or 14.37 points, to 5,207.72, led by financials with the second largest lender Hatton National Bank losing 1.8 percent. The market jumped more than 2 percent on ...
HONG KONG: High-end London-based jeweller Graff Diamonds on Monday launched the roadshow for its reported $1.0 billion initial public offering in Hong Kong, one of the biggest this year. Graff Diamonds Founder and chairman Laurence Graff and Chief Executive Officer Francois Graff met potential investors at a hotel in the southern Chinese city, but did not speak to reporters. In a filing to the Hong Kong stock exchange, the company said it made $623.5 million in retail sales last year compared with $454.3 million the year before, as revenue growth rebounded from a slump induced by the 2008 financial crisis. Britain accounted for more than half of total retail revenues, but Asia's contribution more than doubled to $120 million, it said, adding that net profit grew more than 15 percent to $120.1 million. The company planned to open five more directly operated stores selling jewellery and watches in Asia this year, in addition to ...
TOKYO: Japanese shares closed mixed on Monday, with the headline Nikkei index staging a small rally after tumbling last week on eurozone worries, brokers said. The Nikkei 225 index at the Tokyo Stock Exchange gained 0.26 percent or 22.58 points to close at 8,633.89. But the broader Topix index of all first-section shares fell 0.05 percent or 0.39 points to 725.15. The Nikkei's rise came after it slumped 2.99 percent on Friday and lost 3.82 percent in the week following a credit rating downgrade for Greece and 16 Spanish banks, which also piled pressure on the euro. On Monday, market sentiment got a small boost and the euro inched higher after G8 leaders at a weekend summit in the United States said they wanted Greece to stay in the 17-nation eurozone. "Historically, G8 pronouncements have done little to move stocks," Nicholas Smith, equity strategist at brokerage CLSA, told Dow Jones Newswires. "The fact that such ...
HONG KONG: Asian markets were mixed on Monday after last week's huge losses, with traders taking some heart from a statement by Group of Eight leaders saying they wanted Greece to remain in the eurozone. The euro also bounced back from four-month lows against the dollar after the weekend announcement, but comments from Chinese Premier Wen Jiabao that hinted at more monetary easing failed to lift sentiment in Hong Kong and Shanghai. Tokyo gained 0.26 percent by the break, Sydney rose 0.19 percent and Seoul was 0.80 percent higher. But Hong Kong slipped 0.60 percent and Shanghai shed 0.20 percent. The G8 leaders meeting at the US president's retreat at Camp David on Saturday said they wanted Athens to stay part of the currency union and urged it stick to terms of a bailout deal. "We agree on the importance of a strong and cohesive eurozone for global stability and recovery," a joint communique stated. ...
TOKYO: Markets recovered some ground on Monday on value hunting after last week's heavy losses, but investors remained wary over the euro zone despite world leaders calling for Greece to stay in the monetary union and for Europe to balance austerity with growth. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, buoyed by its technology sector which by far outperformed its peers with a 1.3 percent gain. Investors scooped cheapened blue chips, helping to lift tech-heavy Korean equity market above a key chart level. The pan-Asian index fell to a 2012 low on Friday, having lost about 6 percent in the week for its worst weekly performance in nearly eight months. European shares were likely to be even more cautiously traded than Asia, with financial spreadbetters predicting that major European markets  would open down as much as 1 percent. US stock futures were up 0.5 percent, reflecting a lack of ...
BEIJING: Wanda, a property group owned by one of China's richest men, said on Monday it would buy US cinema chain AMC Entertainment for $2.6 billion, adding it would create the world's biggest movie theatre owner. Analysts said the deal would give Wanda, whose interests range from commercial property to film production, greater access to the US market a key aim for the rapidly growing Chinese movie industry. "This is about Chinese money purchasing something that could allow it to gain access to a market," Teng Jimeng, professor of film at Beijing Foreign Studies University, told AFP. "It will allow China to exercise a kind of soft power influence by gaining this kind of movie theatre chain," he said. Wanda was founded by tycoon Wang Jianlin and owns 86 movie theatres in China, with a total of 730 screens, while it also has interests in film production and distribution and a football team in ...

Energy Challenges Review

China Wholesale

brindex
10304.93   Arrow 193.35
+

Budget 2011-12



Disclaimer | Privacy Policy | Terms of Use | Contact Us | Careers | Help | Site MapAaj TVAaj TV Urdu Stock News | Play TV