Goodman Group,Australia's biggest industrial property trust,will begin warehouse and office building developments worth A451 million dollars across the country.The TD Securities-Melbourne Institute Inflation Gauge rose by 0.3% in January to an annual rate of 2.5%,in the middle of the government's 2-3% target range,on costlier fruits,vegetables and utilities.
The China Services PMI rose for the fifth straight month.Services make up about 45% of China's GDP;the government target is 47%.China topped the US as the world's largest trading nation in 2012.China's total imports and exports were 3.87 trillion dollars;US total trade was 3.82 trillion.Chinese export growth alone was double digit,up 25%.
China is investing in the US on a vast scale,spending more than 10 billion dollars last year on the AMC movie chain;the A123 Battery Company;and AIG's aviation business.
Many Asian markets are closed for the Lunar New Year holiday.Australia,the Philippines and Indonesia are open for business.Indonesia is seeing 4.57% inflation on a 44% rise in minimum wages and a 15% increase in electricity prices.
Reliance Industries Ltd's Chairman Mukesh Ambani said the US will be energy independent by 2020 on shale oil and gas,which will drive economic growth.India's new MCX Stock Exchange is to start trading today.
The MSCI Asia-Pacific index was up 0.07% in early Monday trading.
Goodman Group Ltd(ASX:GMG)
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