Monday, August 5, 2013

Asia This Day:China,Sri Lanka,Australia

Overall,there is still some risk appetite across the world,said David Gaud,Senior Portfolio Manager at Edmond de Rothschild Asset Management.Europe could become a second growth driver,probably going from -0.6% growth to 2%.That would help China.China is extremely cheap currently.The earnings growth has been revised up from 8-9% to 12-13%.There is a real case for investing in China by the end of this year.*Sri Lanka is opening a 500 million dollar container terminal built by China at Port Colombo today,It is the largest investment ever in the country's harbours.*China's official July Services PMI was at 54.1,up from 53.9 in June,and above the estimate.A reading above 50 signifies growth.The services sector represents 45% of Chinese GDP.*Australia's election is to be held September 7.Polls have the Labour government slightly behind the opposition coalition,although Labour leader Kevin Rudd is preferred as Prime Minister over opposition leader Tony Abbott.*Toyota Motors will return 30% of its 37 billion dollar cash hoard to shareholders in the form of dividends.It will also increase R&D and CapEx spending,heeding the call of Prime Minister Shinzo Abe.*Beijing is planning to raze a village just outside the capital in order to build a new airport.*The Edmond de Rothschild Group offers private banking;asset management;private equity;institutional and fund services;and corporate finance advisory services from its offices worldwide.The group draws on the heritage of its founding family,bankers to royal houses,who "walked with kings,while never losing the common touch,"as the saying goes.*Toyota Motor Corporation(TM)

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