Asia This Day:Qantas and Emirates Join Forces;Japanese Hiring Up

Japan's Tankan business confidence survey was up less than expected,from -12 in February to -8 in March,although it was the best quarterly improvement in two years.At the same time,China also reported a slight miss in estimates as the Purchasing Managers Index rose to 50.9 in March from 50.1 in February.HSBC's China PMI reading rose to 51.6 from 50.4,a little stronger improvement than the government's version.
Asian markets were lower on the mildly disappointing data,with the MSCI Asia-Pacific index falling 0.74% in early Monday trading.Markets in Hong Kong,Australia and New Zealand remain closed till Tuesday for the Easter holiday.
Chinese authorities told Beijing and Shanghai to place new restrictions on home buying in an attempt to limit skyrocketing prices.Homeowners were not to be granted credit to buy second or third homes.
Australia's airline Qantas and the UAE's Emirates Air have inaugurated their new alliance with a symbolic first flight .It will now be possible for Qantas passengers to fly to 65 international destinations from Melbourne and Sydney with one connecting flight in Dubai,as opposed to only five destinations in a previous alliance with British Airways.This will shave two hours off of flights to Europe.
Bookings to Europe are up six-fold on the new routes,which Goldman Sachs believes will be worth about Australian 90 million dollars to Qantas-or US 94 million.Qantas has cut its deficit from A262 million to A91 million in the first half of the fiscal year on retiring old planes and cutting unprofitable routes.CEO Alan Joyce has pledged to return the carrier to profitability.
For the first time in three years,Japan Airlines graduated about a thousand new hires in a JAL hangar in Tokyo.The workers stood stock-still in formation at the ceremony Monday.
Nomura Securities has hired the most new graduates in four years on the strength of the banking industry.

Asia This Day:China Reins In Property Market;National Party Congress Convenes

The Shanghai property index was down 8.53% in early Monday trading,with some shares dropping as much as 10% on news of new government restrictions on the sector.It was the worst decline in five years.
The property market has really taken off,according to Jing Ullrich,Chairman of JP Morgan Global Markets China,triggering government concern about social inequality and the middle class.I think buyers may slink to the sidelines again.
Property is the one area the middle class can stash their wealth.The rising income of the middle class has stoked prices.
Property prices are hardly affordable for newcomers.There may be declines for the next three months,but in the long term,urbanisation and income growth are still very positive for the property sector.There may be a great deal of volatility in the next month or two as the new measures are applied.
This year should be a better year for the stock market than 2012.In the near term,Hong Kong shares should hold up better than the mainland,being supported by international investors,but the mainland shares are cheaper.People need to think about China concept stocks such as those of  multinational firms doing business in China.They could make double digit gains.
The National Party Congress in Beijing will be attended by 3,000 delegates over the next 10 days.Xi Jinping will be formally named President.There should be social services and urbanisation developments.Big ministries may be reshuffled.There may be financial services reform to create more of a level playing field between State-Owned Enterprises and Small and Medium-sized Enterprises,and to make the financial services industry globally competitive.
About 280 million migrant workers live in Chinese cities without social benefits.Only those born in cities have medical care.Migrant workers do not have benefits.They are second class citizens.
The Indian Nifty Fifty and Sensex indexes were both down in early Monday trading.There was a lot of pressure on auto stocks from poor February sales.Asia shares generally were down on the new Chinese property market restricitons.
Australian company profits declined,led by mining and manufacturing,as commodity prices fell.
iShares FTSE China 25 Index Fund(FXI)

China Home Prices Still Rising

In spite of the government's best efforts to rein them in,new home prices in China continue to rise.A report shows new home prices are up in 67 of 70 cities.Developers are not cooperating with Beijing;nor are certain local officials.They are perhaps waiting to see how things will play out.
All the same,Peter Churchouse of Portwood Capital says we're already seeing a decline in secondary home prices.He expects to see this in new homes in the back half of the year.
The Japanese stock market is closed today,Monday,for Respect For the Aged Day.
The Australian and New Zealand dollars were down on renewed Euro debt fears as European finance ministers failed to come up with concrete measures at a weekend meeting.The euro dollar was also lower,and the dollar yen was higher.New Zealand economists see slower growth ahead because of a delay in rebuilding following recent earthquakes.
At least 18 people died in a 6.9 earthquake on the Indian-Nepalese border in the Himalayas.India sent five military aircraft to assist the residents there.Kathmandu,Nepal reported extensive damage.
At the BMW Championship near Chicago,English golfer Justin Rose took the title,while Australians John Senden and Geoff Ogilvy were second and third on the leader board,respectively.
It was 72F in Shanghai on Monday under mostly cloudy skies.Winds were W at 22 mph,and the humidity was 60%.

Staying On The Story:The Dalai Lama Appeals

The exiled Tibetan spiritual leader,the Dalai Lama,has appealed to the Chinese authorities to allow him to visit his earthquake-ravaged homeland,Qinghai Province,in order to aid the distressed populace.China's President,Hu Jintao,made an impromptu visit to the Tibetan Plateau region himself on Sunday,cutting a South American visit short.Mr.Hu encouraged rescuers,who have been dealing with harsh conditions in the remote area some 4,000 meters above sea level-or 13,000 feet-to continue their lifesaving work.We must treasure each life,he said.In a photo opportunity,Mr.Hu embraced an injured Tibetan woman lying in a field hospital.The death toll from Wednesday's quake has risen to 1706,with 256 missing,12,000 injuries and 100,000 left homeless by the magnitude 6.9 earthquake.
Red-robed Buddhist monks were still digging through the rubble with gloved hands and facemasks,while other monks lit funeral pyres for the dead.Some of their own died in the quake,as well as children.The disaster area has only one main road,but food,water and shelter are now available.Many of the victims,who are mainly ethnic Tibetans,had to spend several nights in the open in the subfreezing weather.One monk remarked bitterly that the official rescue parties were lackadaisical about the task,revealing a simmering resentment toward the Chinese Communist authorities that has boiled over from time to time since they took power in 1959.For Beijing,the earthquake is a security challenge as well as a humanitarian crisis.
It is almost certain that the Dalai Lama's request to visit Qinghai Province will be rejected.Beijing regards him as a separatist,and all attempts at negotiation have failed to this point.The Dalai Lama,a periodic guest at the White House to Beijing's consternation,insists he only wants autonomy for Tibet.He has resided in India since 1959.

Who Obama Is:Leading in Strasbourg

President Barack Obama was greeted enthusiastically by European young people at the Rhenus Sports Arena in Strasbourg,France.The president was in the middle of his first overseas trip since his inauguration in January.It's important to hear from you,the President said,not just speak to you.We stand at a crossroads.The same forces that have brought us closer together have also brought us new dangers,such as nuclear weapons.The pollution of cars from Boston or smokestacks in Beijing can reach other countries.The economic crisis is proving the fact of interdependence.There's certainly enough blame to go around,and the U.S. bears its share.The only way forward is by a persistent way to combat fear and want wherever they are found,Mr.Obama told the large assembly.

Shop Talk

Welcome to all my readers,from Montreal to Beijing and all points in between.I work under deadline pressure,so small errors are to be expected from time to time.When these occur,I correct them as soon as possible.The day of publication should be considered a first edition.As many of you know,I publish two other blogs,Extra Content and International Daybook,and you can visit them via link.Welcome also to Financial Times Press and LinkShare,which you may reach via link as well.