A major bilateral conference,the Boao Forum for Asia Annual Conference 2013,has been taking place in the coastal town of Boao on South China's Hainan Island Province.It started Saturday and concludes today,Monday,April 8.The theme of the conference is "Asia Seeking Development for All:Restructuring,Responsibility and Cooperation."
New Chinese President Xi Jinping made a keynote address at the gathering.He said it has become an important forum with growing global influence and a new starting point.He hopes it will scale an ever greater height.
It is Mr.Xi's first multilateral diplomatic meeting in China since his election in March.He recently completed his first foreign trip to Russia,Tanzania,South Africa and Congo.He also attended the fifth BRICS Summit in Durban,South Africa,portraying China as unswervingly following a path of peaceful development.
At the Boao Forum,Mr.Xi warned that no one should be allowed to throw a region into chaos for selfish gains.Although growing interaction inevitably leads to friction,it is important that countries resolve differences through dialogue-remarks taken to be references to North Korea's recent barrage of bellicose rhetoric and military moves aimed at South Korea and its US ally.
The more China grows,the more development opportunities it will create for Asia and the world.In the next five years,China's imports will reach around 10 billion dollars,and its outbound investment will reach 500 billion,Mr.Xi predicted.Its outbound tourists may exceed 400 million.
China will continue to properly handle differences and frictions with relevant nations,while upholding its sovereignty,security and territorial integrity-i.e.,Taiwan belonging to China,as well as disputed islands in the South China sea.
The real challenge is to broaden and deepen the cooperation we've seen happen in Asia,said Stephen Groff,Vice President of the Asia Development Bank.The ADP has stepped up its presence in Myanmar,which has been on a course of liberalisation of late.Myanmar may become a middle income nation.
We're quite confident that we're gonna see strong economic growth in the Philippines.It needs a lot of work to build the manufacturing sector to provide the kind of jobs that the people need there,Mr.Groff observed.
The Hong Kong Stock Exchange has introduced after hours futures trading.This will be from 5pm to 11pm local time.That way,traders can adjust their positions to late-breaking developments.Small brokers are complaining the change could put them out of business.The exchange replied that they are not in the business of increasing everyone's profits.
The MSCI Asia-Pacific index was flat in early Monday trading,but Japan's Nikkei average rose 2.3% on the Bank of Japan announcing another round of bond-buying.
Showing posts with label Nikkei 225. Show all posts
Showing posts with label Nikkei 225. Show all posts
Monday, April 8, 2013
Sunday, June 12, 2011
Asia This Day
Asian markets were mostly lower this morning,Monday,on continuing global economic concerns.Japan's Nikkei 225 was down 54.87,while Hong Kong's Hang Seng Index dropped 222.31 and Singapore's Straits Times Index fell 16.42.Australian markets were closed for the Queen's Birthday holiday.
There were anti-nuclear demonstrations in Tokyo at government buildings and the offices of Tepco,owner of the disabled reactors.The protesters were marking the 3-month anniversary of Japan's earthquake and tsunami disaster.
Japan's April machinery orders were down 3.3,which was worse than expected.The decline is attributable to parts and electricity shortages down to the earthquake and tsunami.
The World Economic Forum is meeting in Jakarta,Indonesia.Some 600 attendees will assess Asian prospects at the conference.Indonesia is being regarded as the next Brazil,the fifth BRIC country.
Hong Kong woke to partly cloudy skies today with thunderstorms in the forecast.It was 86F,and winds were out of the southeast at 7 mph.The humidity was 74%.
There were anti-nuclear demonstrations in Tokyo at government buildings and the offices of Tepco,owner of the disabled reactors.The protesters were marking the 3-month anniversary of Japan's earthquake and tsunami disaster.
Japan's April machinery orders were down 3.3,which was worse than expected.The decline is attributable to parts and electricity shortages down to the earthquake and tsunami.
The World Economic Forum is meeting in Jakarta,Indonesia.Some 600 attendees will assess Asian prospects at the conference.Indonesia is being regarded as the next Brazil,the fifth BRIC country.
Hong Kong woke to partly cloudy skies today with thunderstorms in the forecast.It was 86F,and winds were out of the southeast at 7 mph.The humidity was 74%.
Sunday, March 13, 2011
Asia This Day:Japan Quake Business Effects-plus an update
Japan is bracing for rolling power blackouts today.Several nuclear plants are offline-one of them permanently,crimping the country's electricity supply.Japan needs 40 million kilowatts,but has been reduced to 10 million.In consequence,there will be 3-hour blackouts for each district.The central business district in Tokyo,where government offices are located,will not be affected.
There is also a shortage of fresh food,water,candles,batteries and rice.Relief supplies are beginning to make their way northward,but many areas have yet to see any.
Cooling efforts continue at four nuclear reactors.U.S. officials said that contamination is not expected to reach America's shores,even though 180,000 Japanese have been evacuated from the reactor zones.Singapore is testing all food imports from Japan for radiation.The imports are predicted to become more expensive as their supply dwindles.
The Japanese stock market reopened Monday,with the Nikkei 225 index down 4.46 at lunchtime.The more broadly based Topix index fell 5.85,while the yen rose 0.45 against the U.S. dollar.Construction stocks were up as high as 62%.
Citigroup said Japanese industrial production would fall 1-2% because of the quake,but will ultimately benefit as reconstruction gets fully underway.Societe Generale feels that the quake will lower bond yields,but the Japanese economy will recover.
The Bank of Japan moved its scheduled meeting up an hour.It is injecting trillions of yen into the system to ensure liquidity.
Update:Nils Diaz,former chairman of the Nuclear Regulatory Commission,says the Japan nuclear accident is relatively low level.He ranked it as a 2 or 3 out of seven.The Japanese workers have it well in hand,carefully releasing small amounts of radiation.It isn't an uncontrolled event such as Ukraine's Chernobyl accident was in the 1980s.As well,the Japanese reactors are more advanced in design and are recovering from a natural disaster,not human error as occurred at Chernobyl or Three Mile Island in Pennsylvania.
Toyota and Nissan have shut production down for the moment.Toyota's stoppage will mean a cut of 40,000 vehicles.On the other hand,Toshiba is restarting a chip factory,though Sony has shuttered facilities.
iShares Japan Index Fund(EWJ)
There is also a shortage of fresh food,water,candles,batteries and rice.Relief supplies are beginning to make their way northward,but many areas have yet to see any.
Cooling efforts continue at four nuclear reactors.U.S. officials said that contamination is not expected to reach America's shores,even though 180,000 Japanese have been evacuated from the reactor zones.Singapore is testing all food imports from Japan for radiation.The imports are predicted to become more expensive as their supply dwindles.
The Japanese stock market reopened Monday,with the Nikkei 225 index down 4.46 at lunchtime.The more broadly based Topix index fell 5.85,while the yen rose 0.45 against the U.S. dollar.Construction stocks were up as high as 62%.
Citigroup said Japanese industrial production would fall 1-2% because of the quake,but will ultimately benefit as reconstruction gets fully underway.Societe Generale feels that the quake will lower bond yields,but the Japanese economy will recover.
The Bank of Japan moved its scheduled meeting up an hour.It is injecting trillions of yen into the system to ensure liquidity.
Update:Nils Diaz,former chairman of the Nuclear Regulatory Commission,says the Japan nuclear accident is relatively low level.He ranked it as a 2 or 3 out of seven.The Japanese workers have it well in hand,carefully releasing small amounts of radiation.It isn't an uncontrolled event such as Ukraine's Chernobyl accident was in the 1980s.As well,the Japanese reactors are more advanced in design and are recovering from a natural disaster,not human error as occurred at Chernobyl or Three Mile Island in Pennsylvania.
Toyota and Nissan have shut production down for the moment.Toyota's stoppage will mean a cut of 40,000 vehicles.On the other hand,Toshiba is restarting a chip factory,though Sony has shuttered facilities.
iShares Japan Index Fund(EWJ)
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