More than half of Asian firms have reported disappointing Q2 earnings so far.Of the companies in the MSCI Asia-Pacific index,54% disappointed,as compared with 50% in Q1.Nonetheless,Asian shares rose decisively in early Monday trading,cheered by an uptick in US hiring and hopeful sounds from Greece.
In the Chinese technology sector,Alicia Yap of Barclays said Baidu is definitely a buy because of its market dominance.She also likes NetEase,Inc.Tencent's margins are of concern to her.In general,large customers are being cautious with their pocketbooks.
At the London Olympics Sunday,China still led the medals count,with 61 total and 30 gold;the US stayed second with 60 total and 28 gold;Great Britain ranked third with 37 total and 16 gold;Russia held fourth with 37 total and 4 gold;and Japan came in fifth at 27 total and 2 gold.Jamaica's Usain Bolt retained his 100 meter sprint title;Sanya Richards-Ross became the second US woman in history to take the gold in the 400 meter race.
Romanian gymnast Sandra Izbasa secured the gold in the women's vault final with a steady showing,upsetting media favorite McKayla Maroney of Team USA,who was awarded silver when she landed on her backside.Maria Paseka won the bronze medal.
NetEase,Inc.(NTES),Baidu(BIDU),Barclays(BCS)
Showing posts with label Asian markets. Show all posts
Showing posts with label Asian markets. Show all posts
Monday, August 6, 2012
Sunday, April 24, 2011
Asia This Day
Some Asian markets are closed today,Monday.Australia and New Zealand are observing Anzac Day,and Hong Kong is marking Easter Monday.Of those which are open,the Nikkei was up 0.48,while the Korean Kospi rose 0.30 and the Singapore MSCI futures were virtually flat,edging up 0.05.
Australian Prime Minister Julia Gillard was working on the holiday,visiting Korea in search of a trade deal.She said the partnership between the two countries was full of promise and potential.She also toured the Demilitarized Zone between North and South Korea.
Tension flared on the border between Thailand and Cambodia.Ten soldiers have been killed since Friday in the territorial dispute,which started three years ago over ownership of several temples in the area.
A number of earnings reports will be issued this week.Big Chinese banks,tech companies,REITs,Panasonic,Canon and Honda are among those reporting in China and Japan.
The Hong Kong morning dawned clear at 79 degrees F.The humidity was 61% and winds were W at 4 mph.
Canon(CAJ),Honda Motor(HMC),Panasonic(PC),iShares FTSE Xinhua China 25 Index (FXI)
Australian Prime Minister Julia Gillard was working on the holiday,visiting Korea in search of a trade deal.She said the partnership between the two countries was full of promise and potential.She also toured the Demilitarized Zone between North and South Korea.
Tension flared on the border between Thailand and Cambodia.Ten soldiers have been killed since Friday in the territorial dispute,which started three years ago over ownership of several temples in the area.
A number of earnings reports will be issued this week.Big Chinese banks,tech companies,REITs,Panasonic,Canon and Honda are among those reporting in China and Japan.
The Hong Kong morning dawned clear at 79 degrees F.The humidity was 61% and winds were W at 4 mph.
Canon(CAJ),Honda Motor(HMC),Panasonic(PC),iShares FTSE Xinhua China 25 Index (FXI)
Sunday, March 27, 2011
Asia This Day
Asian stocks were mixed Monday morning,with the Japanese Nikkei down 31.07 and the Australian ASX dropping 5.40,while China showed some strength as both the Hong Kong and Shanghai indexes were up modestly.
In Japan,repair work on the Fukushima reactors is still delayed because of a radioactive water leak;it can't resume until the leak is fixed,an official said.Two workers have substantial skin contamination from standing in the water.
Power shortages continue in Japan,and automakers there may cooperate,staggering production schedules to deal with the shortfall.
Sinopec,the Chinese oil and petrochemical major,reported its 2010 earnings.It posted record earnings,with net income up 14% for 2010 and 31% for Q4.Sinopec will now cut costs and expand overseas activity and investments.
Other Chinese energy firms exceeded Sinopec's results,with Cnooc reporting profits up 85% and Petrochina's 35% higher.They are less exposed to crude oil price hikes than Sinopec,which is more heavily into refining and hence restricted by government price controls on fuel.
Sinopec(SNP),Cnooc(CEO),Petrochina(PTR)
Update:Hong Kong shares later took a tumble,falling 0.72%.Only Shanghai remained in the green.
In Japan,repair work on the Fukushima reactors is still delayed because of a radioactive water leak;it can't resume until the leak is fixed,an official said.Two workers have substantial skin contamination from standing in the water.
Power shortages continue in Japan,and automakers there may cooperate,staggering production schedules to deal with the shortfall.
Sinopec,the Chinese oil and petrochemical major,reported its 2010 earnings.It posted record earnings,with net income up 14% for 2010 and 31% for Q4.Sinopec will now cut costs and expand overseas activity and investments.
Other Chinese energy firms exceeded Sinopec's results,with Cnooc reporting profits up 85% and Petrochina's 35% higher.They are less exposed to crude oil price hikes than Sinopec,which is more heavily into refining and hence restricted by government price controls on fuel.
Sinopec(SNP),Cnooc(CEO),Petrochina(PTR)
Update:Hong Kong shares later took a tumble,falling 0.72%.Only Shanghai remained in the green.
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