Sunday, June 5, 2011

Asia This Day

The Chinese markets are closed today,Monday,for the Dragon Boat Festival.New Zealand is closed for the Queen's Birthday.Japan's Nikkei average and the Australian ASX 200 were down this morning,as was Singapore's Straits Times Index,on concerns about the U.S. economy.
The Australian dollar was up 0.22 this morning on the belief that a U.S. slowdown will support the yield advantage.The Royal Bank of Australia will meet tomorrow for its interest rate decision.Ausralian retail sales rose the most in 17 months in April,and Australian pension funds have retrieved their financial crisis losses,a review report says.
Elsewhere in Asia,shoemaker Prada sets its initial public offering price range today.Prada may raise as much as 2 billion dollars with the offering and is the first Italian firm to list in Hong Kong.India is planning its biggest highway expansion with 12 billion dollars in projects to satisfy its burgeoning transport needs.The country's expansive middle class demands more roads for its new cars and commerce continues to broaden.
In Sydney,it is pleasant today under partly cloudy skies with a temperature of 61F.The winds are west at 17 mph and the humidity is 45%.

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