Monday Newsline:Asian Shares Rise;GE Acquires Alstom Power;Michelle Wie Champion

Asian shares rose Moday,but trimmed their early gains as trading progressed,with the CNBC 100 ASIA IDX falling from an 0.24% gain down to an 0.13 rise.The Hang Seng index,for instance,had been up 0.25,but even slipped into negative territory,down 0.11%.India's Nifty Fifty futures were down 0.32%.
The CNBC 100 ASIA IDX was lifted by a strong ASX 200 as Australians were reassured by robust commodity prices,with both NYMEX and Brent crude futures appreciating on the Iraq crisis,and copper and aluminium markets being cheered by the flash HSBC China PMI Index,which showed expansion of Chinese manufacturing for the first time in six months.The index registered 50.8 in June versus 49.4 for the final May reading.A reading of 50 or above means increased factory activity.
South Korea's KOSPI was up 0.35% on the strength of Samsung Electronics' good showing.*
The S&P futures presaged a positive morning for US stocks,with the S&P futures up 0.25%.This follows on a record high for the S&P 500 and Dow Jones indexes on Friday.
One factor in play this morning is General Electric's succussful 17.6 billion dollar bid for the power assets of the French company Alstom,beating out the German conglomerate Siemens.This was in part due to several trips to Paris by GE CEO Jeff Immelt to sell the deal to French authorities.*
In sport,American Michelle Wie,24,long one of the star players of LPGA golf,finally achieved the milestone of winning her first major championship Sunday as she took the US Women's Open at Pinehurst Resort in North Carolina.It was the end of a long quest by the tall Stanford graduate and onetime wunderkind to meet the high expectations which were set for her.She clinched the national trophy with a two under par 70 on the rigorous Donald Ross Pinehurst #2 course.She now has won a total of four LPGA tournaments,her popularity with the media and her colleagues tending to exceed her actual career accomplishments until this point.*
General Electric(GE),Samsung Electronics Ltd(OO5930:Korea SE)

Monday Newsline:Portugal's Better;China PMI;Langer Wins

Portugal will end its three-year,78 billion euro bailout from the EU and IMF on May 17,as it says it has financial reserves for one year and no longer needs an emergency line of credit.Portugal's exports and austerity measures have strengthened the economy to this level.The country's unemployment rate is at 15.3% and its debt to GDP is 129%.*
Australian bank Westpac showed a profit increase of 8%,while ANZ Bank's profit rose 11%.Westpac said the improvement was due to loan growth and wealth management fees.*
China National Nuclear Corporation is to be publicly listed in Shanghai.The IPO aims to raise 2.6 billion dollars.CNNC is China's second largest nuclear plant operator.*
The HSBC China Manufacturing PMI came in at 48.1,the fourth straight monthly decline.Below 50 indicates contraction in the sector.Deflationary pressure is still there in China,said Yao Wei,China economist at Societe Generale.We think the economy will remain relatively weak.A hard landing for China would be 5% growth.It's all about reform at the end of the day,Ms.Wei noted.*
Most Asian markets were lower Monday on the contraction of Chinese manufacturing.US stock futures were also lower on fears that the Ukraine crisis is getting out of hand,with large demonstrations and a deadly fire in Odessa,while the price of safe haven gold rose.*
In Champions Tour golf,German Bernhard Langer won the Insperity Invitational at The Woodlands,Texas by one stroke.It was his third win at the tournament,and with it he consolidated his lead in the Charles Schwab Cup standings.American Fred Couples took second,and Colin Montgomerie of Scotland came in third.

Monday Newsline:China Manufacturing;Sinopec

The HSBC China PMI Index came in even lower in March than it did in February,falling to 48.1 from 48.5.Below 50 means the manufacturing sector is contracting.Still,this poor number raised expectations that China would enact stimulus measures,sending the MSCI Asia Pacific index up 0.85% in Monday trading.*
Sinopec's Q4 net profit fell 35% year on year as improved refining profits lost out to lower upstream earnings.The 13.8 billion yuan profit was way lower than the 20.5 billion consensus forecast.
Profits were squeezed by a drop in oil exploration and production profit partly caused by lower world oil prices.Lower prices also hurt its chemical division,as did an increase in domestic production capacity.
To improve its performance,the oil and gas major will sell up to 30% of its marketing and distribution division,which is a vast network of some 3,000 petrol stations,plus convenience stores,pipelines and storage facilities.The sale could raise up to 20 billion.It will also cut capex by 4.2%.*
South Korea's KOSPI index surged 10.61%,bolstered by shipbuilding stocks rising on the day.Daewoo Shipbuilding soared 4.61%,while Hyundai Heavy Industries added 1.98%.*
Sinopec Shanghai Petrochemical Co Ltd(SHI),Daewoo Shipbuilding&Marine(DWOTF:OTC US),Hyundai Heavy Industries Co Ltd(HYHZF:OTC US)

Asia This Day:China Manufacturing;Singapore Grand Prix

Japanese markets are closed Monday for the autumnal equinox holiday.Hong Kong's market was closed until after lunch because of Typhoon Usagi,which crossed the territory without causing serious injury or damage.*
Steve Brice,chief international strategist at Standard Charterd,said the tapering will happen at some point,and that will drain liquidity from the market.Expect continuing volatility for the Indian market.We're not convinced that the Chinese authorities want a significant rebound in Chinese growth.There's been good data,but we're not convinced and haven't bought into a major bull market in China just yet.*
We like the European stock market for a 6-12 month time horizon.We're still relatively constructive on the US.We're waiting for the earnings.We want to see what happens on the cost side.*
The HSBC flash PMI showed that China manufacturing data beat its estimate,causing stocks to rise in early Monday trading.The unofficial index rose to 51.2 in September from 50.1 in August,reaching its highest level since March.The official data comes out in October.*
Sebastian Vettel of Germany won the Formula One Singapore Grand Prix,which was held at night on a challenging street course,solidifying his overall lead for Red Bull Racing in the championship race.Spain's Fernando Alonso was second for Ferrari,and Kimi Raikkonen of Finland finished third for Lotus.A big fireworks display was held immediately the race ended.*
The MSCI Asia Pacific index was up 0.32% in early Monday trading.

Asia This Day:Chinese Manufacturing Looks Good;India Warns of Risk

The HSBC China Purchasing Managers Index rose to 51.5 in December,up from 50.5 in November.It climbed at the fatsest pace since May 2011,and more than expected.A reading over 50 indicates growth in the sector.The Australian dollar extended this year's gain on the China PMI data.
India cut its coal imports by 13% in November.The SENSEX stock-index futures fell when the Royal Bank of India warned of rising risks to the economy in light of the grim outlook for global growth.
Japan's Nikkei stock index has risen 23% in 2012.It is the index's first annual rise in three years.
In early New Year's Eve trading,the Nikkei was up 0.70%.Hong Kong's Heng Seng index was virtually flat,down by 0.04%,while Australia's ASX 200 index fell 0.48%.
HSBC Holdings PLC(HBC)