U.S. and Nordic leaders hold talks in Finland - Associated Press

First meeting in decades: Why the House Speaker welcomes Taiwan's president - Deutsche Welle

US Lawmakers to Meet With Taiwan’s Tsai - Bloomberg Television

Taiwan’s President Arrives in New York - Bloomberg Television

Taiwan President Tsai says "external forces" will not stop island from engaging with the world - Singapore Public Broadcasting

The Himalayan Peaks - NASA - For the best view,click on the photo.

The Himalayan Peaks: The Himalayan peaks are pictured in this oblique photograph from the International Space Station.

'It's a dangerous moment': Ex-CIA director shares warning over Ukraine-R...

Chinese Carmaker Nio Shows Improvement

Electric carmaker Nio of Shanghai, China showed improved third quarter performance, beating the consensus estimate.Deliveries were up 35%;sales rose 22.5 %;and total revenue gained 25%, rising to 257 million dollars, versus the estimate of 234 million.*
Nio designs,manufactures and sells smart,connected vehicles that integrate with next gen technologies and artificial intelligence.Its ES 8 SUV can accelerate to 100 km/hr in 4.4 seconds and has a range of up to 500 km on a single charge.Nio also offers vehicle charging systems such as Power Home and Power Swap.*
Nio's market cap is four billion.It doesn't pay a dividend.Year on year, its shares are down 39.41%.It has been called "the Tesla of China".
At close of NYSE trading today,Nio stock was up 1.38 to 3.80,or 57.02%.*
Nio,Inc (NIO)

Goldman Sachs CEO Lloyd Blankfein On China, Volatility In The Stock Market And The Future ...

US - China Dialogue Begins in Beijing

Chinese President Xi Xinping opened the new round of the US-China dialogue with remarks seeking to alleviate tension between the two countries over the South China Sea,80% of which China considers to be its territorial waters.He wants to see confrontation eased in the region.China and the US should talk more often to reduce tension and build more trust.The vast Pacific should be a stage for inclusive cooperation,not a stage for competition,Mr.Xi said.The Pacific shouldn't be a battlefield for different parties.*
Economically,China wants tariffs removed from cold rolled steel;and it wants market economy status,having signed on to the World Trade Organisation 15 years ago.In that status,it would be more difficult for other countries to punish China with tariffs.Mr.Xi also wants an investment treaty.*
Nonetheless,questions are being raised about China's intentions with regard to Scarborough Shoal in the South China Sea,which it claims along with Taiwan and the Philippines.Will China build a military airstrip there as it has in the Spratly Islands?

Asia This Day:Where To Look for Asia-Pacific Success

Some rather disappointing data came out of East Asia last night.Japan's April Producer Price Index fell 4.2% on the year,versus an estimate of 3.2%;while China's industrial production grew 6.0% versus an estimate of 6.5%.China's April GDP slowed to 6.88% from 7.1% in March.Investors will naturally pause for a moment to consider these facts.*
As we move from a manufacturing-led Chinese economy to a consumption-led economy,we have to expect growth to slow down;but I still think you're going to find great assets to own in the China market,said BlackRock's Asia-Pacific Chairman Ryan Stork.
It's just going to take some time.You've got a very big economy;it's going to take years.I think the People's Bank of China is there;but we're going to be in a market of near-term volatility the next few quarters,there's no doubt.*
I think you'll see new,innovative investment solutions.I think China,India,Indonesia are three markets that we quite like at the moment.There's downward pressure on Japanese stocks-it's a bit overdone.From our perspective,Japan is still a really big part of our strategy,both from an institutional side and an individual wealth side.You look at the ability to own good companies in Asia.It's more of a fundamental story now,rolling up your sleeves and finding those companies.*
There's a lot of evolution that has to take place in Asia for the use of etfs.The Bank of Japan is a buyer of etfs.It creates a lot of awareness among wealth investors.The use of etfs and long/short investments will eventually find their way into wealth investor portfolios,the more tactical use of passive investing.In the multi-asset space,we have an enormous platform,great teams.We have been growing at an exceptional pace relative to the rest of the firm.We've expanded our team in the equity side;we'll be expanding in the alternative side,Mr.Stork explained.*
iShares Japan ETF (EWJ),iShares China Large-Cap ETF (FXI),iShares MSCI India ETF (INDA),iShares MSCI Indonesia ETF (EIDO),BlackRock Inc (BLK)

Sharp Electronics' New Parent:Hon Hai/Foxconn Technology

Taiwan-based Hon Hai/Foxconn Technology Group has purchased a controlling stake in Japan's Sharp Electronics for 2.5 billion dollars.Foxconn transferred a deposit of 100 billion Japanese yen to Sharp on 31 March.
Foxconn is the world's largest electronics outsourcing firm,manufacturing the likes of the iPad,iPhone,Kindle,PlayStation 4,Xbox One and NokiaFounded by Terry Gou (pronounced "Gwa"),it is the third largest technology company in the world by revenue.With factories that can range to gargantuan proportions in Asia,Brazil,Europe and Mexico,its more than one million workers produce 40% of all consumer electronics.The group's revenue derives mainly from manufacturing services in connection with handset production.*
Foxconn,a Fortune Global 500 firm,is the largest exporter in Greater China and the second largest in the Czech Republic.Hon Hai Precison Instrument Co Ltd of New Taipei,Taiwan is the anchor company of Hon Hai/Foxconn Technology Group.Foxconn says it is the most dependable partner for joint design,joint development,manufacturing,assembly and after-sales services to global Computer,Communications and Consumer Electronics (3C) leaders.It has over 55,000 patents in fields such as nanotech;wireless network;environmental protection;optical plating technique;precision/nano processing;and network CMOS chips.It also provides end-to-end services such as its logistic and e-supplying system adopted for global supply chain management;computer software development and programming;and sales channel solutions.*
Sharp was founded as a mechanical pencil maker,but today is the fourth largest manufacturer of LED screens.Explaining his purchase,Mr.Gou said he has deep respect for Sharp's innovation and leadership.In acuiring Sharp,he has added a creator of products to a firm known for executing the designs of others.
Although at times questions have been raised about its treatment of workers and there have been some suicides by its workers,Foxconn says it is committed to continual education,investing in people long-term and localization globally.It is a penny stock trading under the name FIH Mobile and had a dividend yield of 2.42% as of close of trade Monday.*
FIH Mobile Ltd (OTC:FXCNF),Sharp Corp ADR (OTC:SHCAY)

The Global Market Cave-In and Where People Are Hiding

European markets caved in 3.5 % to 16-month lows on fears of further ECB rate cuts;and US stocks followed suit with the S&P 500 slipping 1.42% as falling oil prices and Fed rate increase worries,as well as the overseas weakness,rattled investors on Monday.Concerns are that,in a climate of negative interest rates in Europe and Japan,and prolonged dovish monetary policy,banks' profitability will be squeezed,said Jaisal Pastakia,investment manager at Heartwood Investment Management.According to Michael Bell,global market strategist at JP Morgan Asset Management,the market is pricing in a 50% chance of a European recession.
Both Brent crude and light sweet crude fell about 2.5% Monday,with Brent closing at 33.20 bbl and light sweet crude subsiding to the 30.12 mark.As for the safe havens,London spot gold peaked at 1176.66 an ounce at 1104 GMT,an increase of 0.3% on top of last week's 5 % gain;while NYMEX April gold settled up 3.5% at 1197.00 an ounce,and silver climbed 0.32% to 15.36 an ounce.*
Ian Taylor,CEO of Vitol Group B.V.,the world's largest independent energy trader,believes oil will stay low for the next 10 years.Brent crude will close the year out at 48.00 bbl,Mr.Taylor predicted.The Rotterdam,Netherlands company ships more than 270 million tonnes of crude a year in its fleet of 200 supertankers and other ships.*
Gold has made a spectacular move the past 20 days,said Frank Holmes,CEO of US Global Investors.World trade is still in negative territory,and negative real interest rates are helping gold.As well,there is a strong physical demand for bullion worldwide.US gold coin dealers had their second-best year ever in 2015,despite the price of gold having declined last year.I think it's going to continue to do much better this year than last year,unless some catastrophe happens around the world.China needs to back 3% of its currency with gold,buying all new mine supply.I think 1100 an ounce is the floor price,and it could easily go to 1500 and ounce,Mr.Holmes projected.*
We think there is more upside,said ETF Securities analyst Martin Arnold.The next big level is 1200,but it may take a while to test it.*
The rare stocks that did well in the Dow Jones Industrial Average included Exxon Mobil;Chevron;Apple;Procter&Gamble;and Johnson&Johnson.*
Exxon Mobil (XOM);Apple Computer (AAPL);Procter&Gamble (PG);Johnson&Johnson (JNJ);Chevron (CVX);iShares MSCI Global Silver Miners ETF (SLVP);iShares MSCI Global Gold Miners ETF (RING)

Luxury Retail:What Coach Has Going For It

We've seen our company improve about 20 points,said Coach CEO Victor Luis.We have continued growth in Europe and are doubling our China business.We're really pleased with the Chinese consumer internationally.Tourist flows are up in Europe and Japan.The consumer is looking for quality at great value,and Coach is uniquely situated to meet that need.*
In general,we see ourselves taking share from the traditional European luxury players.Our number one priority is the Coach brand,remodeling our store fleet.By the end of June,we will be 40% remodeled.We have tremendous confidence in the handbag and accessories space.It's the number one investment that women-and increasingly,men-make in their wardrobe.*
Our Stuart Weitzman brand is helping us in the footwear space.In spite of the warm holiday,they were number one in boot sales.*
Coach offers accessories and gifts for men and women,from handbags and men's bags to women's and men's small leather goods;footwear;outerwear;watches;fragrances;and jewelry.*
Coach,Inc (COH)

Market Worry Spurs Safe Haven Buying

The S&P 500 Index continued its downward trending Monday,closing down 29.82,or 1.56%.This was based on the decline of light sweet crude below the 30.00 mark,down 2.42% to 29.77 a barrel.Brent crude fell even harder,down 6.62%,but didn't crack the 30.00 threshold,closing at 30.05.Safe havens gold and silver both appreciated,with gold closing at 1108.8 an ounce,up 1.1%;and silver closing at 14.255 an ounce,up 1.444%.*
There is a lot of concern in the markets over the devaluation in China and the collapse of oil,said Bob Baur of Principal Global Investors.We think a huge devaluation is not ahead.I think China is more interested in a stable currency rather than devaluation.We're finally seeing some stability in the commodity markets.We do think 30.00 is low for oil prices.*
Overall,we're not seeing the kind of consumer spending we were expecting.Lending is going up,but consumers are still reducing their spending.China has slowed dramatically,so there's a real concern about growth slowing.There's an awful lot of worry about a global recession.We think growth is being rebalanced.We are in a place where growth is not going to be what it was.The engine is there-it's just not going to be what we're used to.*
We've recapitalised the banks.Private and household debt has come down.Private debt has come down since 2005.*
Australia is doing remarkably well.The job growth there is good.The US economy has been resilient.Consumer spending is robust.It's awfully hard to see a recession occurring there,Mr.Baur noted.*
In the short-term,we could see some short-term rebound;but long-term,we are still bearish over the next 12 months,cautioned Jason Low,equity strategist at DBS Private Bank.*
Market Vectors Gold Miners ETF (GDX),Silver Wheaton Corp (SLW)

Alcoa Launches Q4 Earnings Season - not dependent on China

In accordance with tradition,Alcoa has reported its Q4 2015 earnings first.Earnings per share were 0.04 versus the estimate of 0.02,a slight beat;while revenue came in at 5.25 billion dollars versus the 5.29 billion estimate,a bit of a miss.The company says it exceeded productivity goals,however.It expects continued strong demand for aluminum and strong global aerospace sales.Indeed,it is planning to spin off the aerospace business in 2016,so will implement the overhead reduction program this year.*
It's been really a solid quarter,said Alcoa CEO Klaus Feldman.We've seen a string of large contracts.We've doubled our auto shipments over the past year.Look at the cash;look at productivity-all this we've got under control.We have five different businesses.We're building up our bauxite business.We have an energy business.Today we're in a trough,and we're still doing well.We have 1.9 billion in cash and we believe global demand will rise by 6.9%.Aluminum is a hot metal.*
How is the China downturn affecting Alcoa? We are not dependent on China.China has opportunities,rather than threats for us,Mr.Feldman explained.*
Some part of this 15% drop in China is domestic;but part is fundamental,added Timothy Moe,chief Asia equity strategist at Goldman Sachs.The fundamentals are:
a.concerns about growth;and
b.concerns about the depreciation of the currency,the renminbi.
Any concern that growth is slowing is a real fundamental read-across,Mr.Moe observed.*
Alcoa Inc (AA),Goldman Sachs (GS)

As Market Falls,Fed Banker Explains China Slowdown,US Prospects-plus how many rate hikes in 2016

A slowdown in Chinese manufacturing in December,coupled with fears of intensifying conflict between Iran and Saudi Arabia,left global markets in a tailspin Monday.The Caixin/Markit China Manufacturing PMI fell to 48.2 in December from November's 48.6,the 10th straight monthly decline.A reading below 50 indicates contraction of the sector.The Reuters consensus estimate for December was 49.0.In response to the China index and the exogenous event in the Middle East,the S&P 500 Index fell 31.28,or 1.53%.Opinions on Wall Street were split over how significant the slippage was for the 2016 outlook.*
For San Francisco Federal Reserve Bank President John Williams,who spoke to CNBC at the American Economic Association annual conference,it's important to realise China is undergoing a pivot to slower growth,and a pivot away from manufacturing to the consumer sector.I think this is an ongoing process that China is going through,Mr.Williams said.We realise we're in a global economy and we're affected by it.The Chinese stock market is not a major concern as far as systemic risk right now.What we need to do is,focus on maximum employment and price stability.We're focused on the attainment of our objectives.*
We're in very good shape.Unemployment is at 5% and GDP growth is a little over 2%.We're a little ahead of the pack in getting back to full employment and on a sustainable path.Where we're being hit hard is on our net exports,a significant part of our economy.Inflation is one thing we're still struggling to get up to our goal of 2%.We're on a pace to add continued job gains.That's very positive for the economy-a growth path of 2-2.5 GDP and unemployment edging back down to 5%.*
There are always unforeseen events:the dollar,oil prices.I have a medium-term outlook.I want to focus on what's happening over the next 2-5 years.I'm not concerned about the ups and downs of market moves.We have a capitalist system and that's what happens.We're on a growth course that would lead to 3-5 Fed rate hikes in 2016,Mr.Williams projected.

Tesla Motors;Toyota Motors;Cambia Portland Classic

Morgan Stanley has raised the price target for Tesla Motors stock to 465.00 from 280.00.They believe Tesla may triple its revenue by 2029.*
I think that Morgan Stanley,did you need to be that excessive?asked CNBC host and master investor Jim Cramer.It's cynical to use these price targets,telling the shorts they need to cover like that.
The Empire State manufacturing report-it's terrible,Cramer noted.The factories are doing not that well.*
Meanwhile,Toyota Motors is taking a hit from the chemical blast tragedy in Tianjin,China,which killed at least 117 and injured untold others,including 50 Toyota workers.Three of Toyota's production lines will be idled through at least 19 August because of the Tianjin evacuation.
Tianjin is the company's biggest production hub in China,and more than a three-day delay could have a material affect on the business.*
Canadian Brooke Henderson,17,won her first LPGA tournament at the Cambia Portland Classic in Oregon Sunday.She mastered the Columbia Edgewater Country Club course with an eight-stroke victory,providing relief to fans disappointed by Canadian golfers' scarce wins in recent years.*
Tesla Motors (TSLA),Toyota Motors (TM)

HSBC,Changing With the World

HSBC,Europe's largest bank,has reported first half pretax profits of 13.6 billion dollars on a strong Hong Kong performance,up from 12.3 billion a year ago.The bank was helped by its brokerage customers using the Stock Connect link to the Shanghai stock exchange earlier in the year,when Chinese shares were still hot.Indeed,HSBC may move its headquarters from London to Hong Kong,pending completion of a review of the matter by year's end.
By contrast,its businesses slowed in Europe,the US and other emerging markets apart from Hong Kong.HSBC is selling its underperforming Brazilian operations to Banco Bradesco SA for 5.2 billion.It is also considering selling its lagging Turkish business to the Netherlands' ING Group.
HSBC set aside 1.3 billion to cover legal costs stemming from regulatory investigations into the rigging of foreign exchange markets by banks worldwide.On the plus side,its investment bank saw a 21% rise in FX trading revenue.The British retail bank also did well.You should work on the assumption that it is a bank we would like to keep,said chief executive Stuart Thomson Gulliver,because it's got excellent returns from what we see going forward and the UK is a profitable banking market.*
HSBC is in the process of moving its UK retail operations headquarters to Birmingham within three years.This British bank will be renamed and have a staff of 22,000.*
We don't see anything alarming coming from what has happened recently in China,Mr.Gulliver added,but there will be some muted impact on our business both from the sell-off in the stock market and from the more reduced economic activity we have seen.Now it's less than two months since our investor update where we unveiled our actions to capture the value of our international network in the changed world.Executing these actions is our number one priority.Work is proceeding in all of these areas,in particular those aimed at reducing risk-weighted assets,cutting cost,and turning around or disposing of underperforming parts of the business.
In order to maintain broad-based growth and a diversified profile,we expect around half of incremental risk-weighted assets to be redeployed to Asia,with the rest spread across Europe,the Middle East,and North America including Mexico,Mr.Gulliver noted in a conference call following the earnings release.*
HSBC wants to boost its growth in Asia by expanding its insurance business in the Pearl River Delta region of China,and seeks to return its global banking and markets division to profitability.Overall,it wants to save 4.5-5 billion dollars annually by the end of 2017,shedding 8,000 jobs in the UK and 25,000 worldwide,although it has added 2,200 compliance staff.
HSBC has increased shareholder value by initiating a five billion dollar buyback and raising its dividend by 124% to 0.28 a share.*
HSBC Holdings PLC ADR (HBC)

With Global Economy Still Suffering,GDP Forecast Lowered

The International Monetary Fund has lowered its global GDP growth forecast for 2015 to 3.3% on a number of factors,including China's stock market turbulence and the Greek debt crisis.As well,both the US and Canadian economies have been downgraded by the IMF.A 20% surge in the U.S. dollar brought on by investors taking refuge in US assets has been crimping exports;while in Canada,falling commodity prices have hindered that natural resource-rich country's economic performance.Still,in 2016,the IMF is predicting global growth to rise to 3.8%.
The end result is not a very impressive number,said IMF chief economist Olivier Blanchard,but it's not a catastrophe,either.We're very much where we expected to be.
The Fed can wait a bit longer to raise rates.We're not very far from where we want to be in the US.Take one step back,the US is doing fine.
There has always been a disconnect between the Chinese stock market and the Chinese economy.It may have an effect on spending,but it's more or less octagonal.When you have exchange rates and stock prices moving quickly as they do in China,you don't know how you can handle it.
Any deal in Greece has to have two parts:
1.The Greeks have to do something.
2.There must be aid and debt relief.
The post-financial crisis world is one of high debt,and it doesn't take much,with these debt dynamics,to go wrong.We have to be ready to see other episodes of that kind.*