Monday, September 10, 2012

Asia This Day:Optimism About China,Japan Airlines

Japan Ailrlines' 663 billion yen initial public offering has priced at the top of its range,3.790 yen a share.The relisting of JAL shares will take place September 19.The airline is retiring its entire fleet of Boeing 747 aircraft and has 47 new planes on order.
Japan's Q2 GDP growth was only up 0.7%,missing the government's estimate by more than half.Morgan Stanley has cut its global growth forecast for 2012 to 3.2%.
India's rupee is trading at a 2 week high on optimism about further Federal Reserve stimulus action.
IMF President Christine Lagarde said China is rebalancing its economy.Its growth is still about 8%.China's 2013 growth will be better than 2012,Ms.Lagarde predicted.
In the UAE,Abu Dhabi shares rose 1.01 on Sunday,their best day in six months.The MSCI Asia Pacific index was flat in Monday morning trading.
Dariusz Kowalczyk,Senior Economist at Credit Agricole,is long on Chinese stocks.He said I am sure they are doing the right thing in China,monitoring growth.They have the goal of stabilising house prices.The Q4 GDP growth will rebound.Housing construction is rebounding now.
South Korea's Jiyai Shin and America's Paula Creamer engaged in an epic playoff on Sunday at the Kingsmill Championship in Williamsburg,Virginia.Neither LPGA golfer has won since 2010.Their abilities were so evenly matched,they had to retire for the evening after eight playoff holes failed to resolve the final round.Play will resume at 9am Eastern today.

No comments: