Franklin Templeton CEO: Surprised if Fed Doesn't Raise Rates by 25 Bps - Bloomberg Television

HSBC Encouraged To Stay Put

HSBC,the British banking titan,says it will remain headquartered in London.It had been unhappy with the regulatory regime,but now bank levies have been scaled back and more friendly regulators have come in after the recent Parliamentary elections.*
In London generally,home prices are up 5.4%,locking out first time homebuyers.*
HSBC still likes Hong Kong very much and says,if Great Britain leaves the European Union,they could still relocate there.*
HSBC also still plans to add 4,000 banking jobs in Southeast China,but the pace has slowed somewhat in the current economic conditions there.*
HSBC Holdings plc ADR (HBC)

Market Fears:It Could Be a Long Way Down

Major global markets largely continued their decline on China and oil collapse fears Monday,although US stock exchanges were closed for the Martin Luther King,Jr. Day holiday.The one exception was the Shanghai Composite Index,which rose 0.47%.The Japanese Nikkei slumped 1.45%,approaching bear territory along with the Australian ASX.The Hong Kong HSI tumbled 1.45%.In Europe,the German DAX fell 0.25%,,while the London FTSE dropped 0.42% and the Paris CAC 40 lost 0.49%.In the commodities space,light sweet crude was down 1.63% and Brent lost 0.55% in anticipation of Iranian production re-entering the market.Natural gas was cheered,however,by the arctic outbreak sweeping into the US East Coast,rising to 2.124,up 1.14%.Gold was virtually flat at 1088.90 an ounce,just a hair down at -0.17%;but silver climbed to 13.94,or 0.32%.
I think there's much more to go,said Bill Fleckenstein,president of Fleckenstein Capital.My real fear is,there's going to be a dislocation,when the market breaks hard and fast.So far this year,it's been sort of a rolling dislocation.I think it's entirely possible to take out the lows of last summer,accelerate and go lower until such time as the Fed panics.*
Intel has been held up by slowing data centre growth.They've got tons of capacity in the place.If people start to waffle over growth,they'll really be in trouble.The world economy is weak.It's a very potent mix and the Fed can't help unless the market goes much lower-so guess what?The market's going much lower.This is much worse than a market correction.I think all these things are in a feedback loop and it's going to get much worse,Mr.Fleckenstein warned.*
iShares Silver Trust(ETF) (SLV)

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)

Business Briefing:Disney Optimistic About Holidays

Walt Disney's Q3 revenue came in at 12.39 billion dollars versus an estimate of 12.37,while earnings were in line with the estimate at 0.89 cents per share.The revenue strength was due to record theme park attendance and studio profits more than doubling.*
We're not concerned about oversaturation with Marvel films;we have a great brand,CEO Bob Iger told CNBC.We have a number of plans for Star Wars:The Force Awakens between now and December 2015 when the film comes out.We're very excited about it.It's going to take a little while to finish it.
We had a good year at the Hong Kong and Tokyo Disneylands and Disney World.We just have a product that continues to be in demand.We have a Frozen castle show that's going into Orlando this holiday season.Our bookings are up for the quarter about 10%.Our cruise business is also doing very well.We're in the direct to consumer business in many ways,and ESPN is an example of that.
You have to conclude that the multi-channel bundle is the dominant method that consumers use to get TV in their homes.What we do know,we're incredibly well-positioned as a company with the strength of our brand.We're taking a cautious approach.The prudent thing to do is to maintain the value.We think the holiday season is going to be very,very strong,Disney CEO Bob Iger predicted.*
Walt Disney Company(DIS)

Market Views:Microsoft's Roadmap and Tesla's Prospects

On the the recent slide in the stock market,I don't think it's gonna turn into much,said Andrew Burkly,managing director at Oppenheimer&Co.We're expecting kind of a 5-10% dip.Earnings season's been OK.People are looking to rotate into more of a global capex story.Overall we think the earnings season is turning out pretty well.*
We're not strong on the fundamentals of Microsoft,but on the opportunity for change,according to Rick Sherlund,US Technology Research Team head at Nomura Securities.If you were to take an internal candidate for CEO and pair it with CFO Amy Hood,you could come up with a pretty good conclusion.
I think you need radical changes in the business itself,more services in the cloud.Enhance shareholder value with dividend increases and share buybacks.That gives you the freedom to change more businesses to business light with lowered margins.*
In the long run,you have to bet on emerging markets growth,said Goldman Sachs CEO Lloyd Blankfein.Basically the flattening of the world is getting great opportunity in these countries.*
December's Index of Leading Economic Indicators rose 0.1%,the smallest increase since 2012.December existing home sales rose 1.0%.The national median home price was 198,000 dollars,up 9.9% from December 2012.*
Tesla Motors is selling its Model S electric sedans starting at 121,000 dollars in China.They are being shipped now for March or April delivery.Hong Kong alone took 300 orders in August.China is the number one market for luxury auto sales and has a pollution problem,making it a promising territory for Tesla.*
Asian markets were down in Tuesday trading on worries about Chinese economic data and the Fed meeting later today.US stock futures rose,however,after three straight days of decline.*
Tesla Motors(TSLA)

Hong Kong Developer Confident

China's Q4 GDP growth was 7.7%-the slowest growth in 14 years,although more than the expected 7.2%.Nonetheless,Citigroup remains bullish on China.The Chinese New Year is generally when shares rally.It is on January 31 this year.*
I think the property market will continue to be strong,said Irene Lee of Hysan Development Company Limited in Hong Kong.We will not stop enhancing our properties.We will not stop making sure that every single building is updated and enhanced.
We are very confident in Causeway Bay.We are very resilient.We will continue to look at opportunities.At Causeway Bay,we make sure we have diverse offerings and are focusing on our locals as well as visitors.*
Listed on the Hong Kong Stock Exchange and having a US ADR programme,Hysan says it is a leading property investment,management and development company.It has an investment property portfolio of over four million sqaure feet of high quality office,retail and residential space,and is the largest commercial landlord in Causeway Bay,a vibrant 24-hour district of Hong Kong.
Typical of Hysan's projects is the landmark Hysan Place tower,which is a mixed use,LEED-certified building with 15 levels of office space and 17 of retail.Located at 500 Hennessy Road,it is directly linked to public transport.*
Hysan is a member of the Dow Jones Sustainability Indexes;the FTSE4Good Index and Hang Seng Corporate Sustainability Index.The company minimises impact to the environment by emphasising energy efficiency;indoor environmental quality;and waste management across its portfolio of buildings.
Hysan also owns and manages some 1200 car parks.*
Hysan Development Co Ltd(OTN:HYSNF)

Asia This Day:Typhoon Haiyan;Hong Kong Home Prices;Portuguese Visa Program

The Philippines Red Cross has 30 workers out with chain saws to clear debris from Typhoon Haiyan,said Chairman and CEO Richard Gordon,who is also a Filipino senator.Still,there is a feeling of desperation.They've lost family members.They're hungry.Their children are hungry.
The worst typhoon in history,Haiyan devastated homes,schools and entire communities.Meteorologists are discussing extending the current five level scale of tropical storms to six categories,on account of the oceans heating up and producing such record storms.*
The Chinese government has increased minimum down payments for high end Hong Kong property to 50%.This has had their intended effect of slowing price appreciation,while hindering even buyers with excellent credit from purchasing dream homes in the territory.
Prices of homes worth more than 10 million dollars Hong Kong are expected to drop 3% in Q4,said broker Cushman&Wakefield.Speculators have been driven off by the decline,but lower end buyers have been aided by steadying prices in their range.From 2003-12,Honk Kong luxury property went up 250%,the highest prices in the world.While the upper end growth will by around 5% in the second half of 2013,the mass market will hold steady.
The Hang Seng Property Index of Hong Kong's biggest developers has dropped 6.4% so far this year.Developers will probably respond by recalibrating their strategies by looking more to lower end projects.*
Chinese nationals are at the top of a Portuguese program to grant residency visas to foreign buyers of property worth a minimum of 500,000 euros,or around 670,000 dollars.Of the 318 of the visas granted in the past year,248 went to Chinese citizens,while Russians got 15,and Angolans and Brazilians 9 each.This has meant a decisive stimulus to the real estate market's recovery,said Foreign Ministry spokeswoman Francisca Seabra.*
In golf,Taiwan's Teresa Lu,25,won the Mizuno Classic at the Kintetsu Kashikojima Country Club in Shima,Japan on Sunday.It was her first career victory,after having been in two playoffs earlier in the year.She said she will probably return to the LPGA Tour next season now,after having left it in 2010 and concentrated on the Japan LPGA Tour.*
Adam Scott won the Australian PGA Championship with a 14 under par 67 at Royal Pines in Gold Coast,Australia.He joins five others as the only Australians to have won all three Australian majors.American Ricky Fowler was second.*
Update:This catastrophe humbles us-all of us,said Father Butch Rivera,a Philippines priest in whose home typhoon victims took refuge.I'm thinking what I can do for these people,what I can give them,the man of faith wondered.He's been consoling them.

Asia This Day:Markets Fall on US Shutdown Worry

The MSCI Asia Pacific index fell 1.1% in early Monday trading on fears of a US Government shutdown at midnight because of the budget impasse in Washington.All 10 industry groups in the index retreated.*
Also looming in Washington is the conflict in Congress over raising the debt ceiling,which is necessary for the US Government to continue borrowing the money it needs to sustain itself.The decline in Asian stocks is really a matter of selling into the strength of the Asia Pacific index's 7% gain in September,in light of the impending double fiscal crisis in US Government finances.*
Both Hong Kong and mainland China markets will be closed Tuesday for a holiday,and mainland markets won't reopen till October 8.*
The HSBC-Markit Economics Performance Manufacturing Index for China came in at 50.2 in September versus 50.1 in August,missing the estimate.*
A comment by Gurbat on Bloomberg's website said the BSE Sensex is poised to increase its downward momentum.The only bright hope is the holiday season for the next six weeks.But given current dynamics the best you can hope for is a retest of highs this year.Added faintandfuzzy:Nice to see US politicians acting like children again...taking the rest of the world economy with them.*
About 19.6% of Hong Kong's citizens are now poor,a new report for the territory's Chief Executive said.Home prices there have doubled since 2009.A family of three has a median income of 23,100 Hong Kong/2979 US dollars per month,according to government figures.
Poverty affects Hong Kong's harmony and stability,thus affecting its long term competitiveness,Chief Executive Leung Chun-ying said Saturday.In 2012,the number of millionaires in Hong Kong rose 35.7%,to 114,000,a Cap Gemini-RBC report indicated.

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.

Should You Invest in the Wintergreen Fund

The direction in the West is improving.People are beginning to buy,said David J.Winters of Wintergreen Advisers LLC in Mountain Lakes,New Jersey.We still believe the future of the world is in the Asia Pacific.
We own a lot of Berkshire Hathaway BRK b shares.
The public are still hiding under their desks.They haven't gone back to the equity market.At some point,the bond markets are gonna go up and people will get crushed.People are still scared,both companies and individuals.
The US is a mature economy with lots of debt,unlike Asia.The EU in general is in deep,deep trouble and we just don't want to play because it's too hard.We love companies with no debt-you don't have a lot of risk.
Hong Kong is one of the great,great places.
David J.Winters manages the Wintergreen Fund,a global value mutual fund with much of the flexibility of a low risk hedge fund.It is #23 out of 287 World Stock funds as rated by US News.Morningstar Associates gives it four out of five stars.
The Wintergreen Fund has returned 13.26% over one year;and 4.85% over five years.Its expense ratio is 1.89%,which is considered Above Average in its category.In Mornngstar's opinion,however,the fund is Below Average in risk.
Wintergreen Fund(WGRNX)

Asia This Day:Xi Jinping Addresses Forum;After Hours Futures Trading Begins

A major bilateral conference,the Boao Forum for Asia Annual Conference 2013,has been taking place in the coastal town of Boao on South China's Hainan Island Province.It started Saturday and concludes today,Monday,April 8.The theme of the conference is "Asia Seeking Development for All:Restructuring,Responsibility and Cooperation."
New Chinese President Xi Jinping made a keynote address at the gathering.He said it has become an important forum with growing global influence and a new starting point.He hopes it will scale an ever greater height.
It is Mr.Xi's first multilateral diplomatic meeting in China since his election in March.He recently completed his first foreign trip to Russia,Tanzania,South Africa and Congo.He also attended the fifth BRICS Summit in Durban,South Africa,portraying China as unswervingly following a path of peaceful development.
At the Boao Forum,Mr.Xi warned that no one should be allowed to throw a region into chaos for selfish gains.Although growing interaction inevitably leads to friction,it is important that countries resolve differences through dialogue-remarks taken to be references to North Korea's recent barrage of bellicose rhetoric and military moves aimed at South Korea and its US ally.
The more China grows,the more development opportunities it will create for Asia and the world.In the next five years,China's imports will reach around 10 billion dollars,and its outbound investment will reach 500 billion,Mr.Xi predicted.Its outbound tourists may exceed 400 million.
China will continue to properly handle differences and frictions with relevant nations,while upholding its sovereignty,security and territorial integrity-i.e.,Taiwan belonging to China,as well as disputed islands in the South China sea.
The real challenge is to broaden and deepen the cooperation we've seen happen in Asia,said Stephen Groff,Vice President of the Asia Development Bank.The ADP has stepped up its presence in Myanmar,which has been on a course of  liberalisation of late.Myanmar may become a middle income nation.
We're quite confident that we're gonna see strong economic growth in the Philippines.It needs a lot of work to build the manufacturing sector to provide the kind of jobs that the people need there,Mr.Groff observed.
The Hong Kong Stock Exchange has introduced after hours futures trading.This will be from 5pm to 11pm local time.That way,traders can adjust their positions to late-breaking developments.Small brokers are complaining the change could put them out of business.The exchange replied that they are not in the business of increasing everyone's profits.
The MSCI Asia-Pacific index was flat in early Monday trading,but Japan's Nikkei average rose 2.3% on the Bank of Japan announcing another round of bond-buying.

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)
  

Asia This Day:More Trouble At Foxconn;Chinese Stocks Cheap

The Southern European shock has had a very sizable global impact,according to Stephen King,HSBC Group Chief Economist.We're not seeing the same kind of China boost this time around.HSBC predicts 8.6% China growth,with global growth at 2.2% for 2012.
The number of Australian help wanted ads were down for the sixth straight month,says ANZ Bank.
Japanese markets are closed today for Fitness Day,while Chinese markets reopened after a week-long holiday.Chinese stocks are the cheapest they've been since 1997.Hong Kong's Hang Seng index was down 0.70 in Monday morning trading.
At a Foxconn factory in Zhengzhou,China,workers returned to their jobs today after 3-4,000 walked off Friday,closing down two shifts.They had gotten upset when quality control said they were scratching too many Apple iPhone 5 casings.This follows a riot the week before at another Foxconn plant in Taiyuan that also makes iPhone 5 casings.
The Zhengzhou workers complained that new quality standards  for iPhone casings were beyond the limit of their vision.A ruckus broke out over the issue resulting in property damage,injury and hospitalisation.

Should You Buy Disney Shares

Walt Disney beat the Q2 profit estimate,earning 1.01 per share versus the 0.93 estimate,but missed on sales,racking up 11.1 billion dollars versus the 11.3 billion estimate.It found a lot of studio success with "The Avengers" film.Media Networks and Entertainment and Theme Parks provided most of the income.Media Networks rose 3%,while Theme Parks gained 9%,and the Studio division was flat overall.
Disney's new CarsLand park was well-received.Worldwide TV was driven by higher sales in international markets-the hot places to sell properties.ESPN charges pay TV operators more than anyone else does.
Disney CEO Bob Iger said every one of our businesses were up nicely year over year.The consumer is still flocking to valuable,good product.Spending is up nicely from a year ago.Visibility is still somewhat lacking in advertising.Generally speaking,there is not much visibility in the ad market.ABC had a modest decrease in advertising for the quarter.
Resort spending is up nicely.We have huge strength in ESPN.The Disney Channel has been on fire,in the number one position.We actually see a relatively strong environment for our channels' franchise fees.
We're relatively consumer-facing and global.Europe is troubling us the most.Our businesses in Asia have been quite strong-the Tokyo and Hong Kong theme parks.People are willing to step up for the cruise ship business and expanded parks.We started to ween ourselves off deep discounts.There's still some room to increase prices based on good,fresh product.
It would be fair to view the environment with some degree of caution,but with our product,our outlook is generally favorable.The world is more complex and competitive than ever before.We've got to have a culture of innovation and a strong infrastructure.We've got to figure out a way to get the government moving forward.That's vital for our business.Corporate taxes have to be looked at carefully,Mr.Iger urged.
Walt Disney Company(DIS)

Asia This Day:Australian Miner Looking Bright

Newcrest Mining reported solid Q2 earnings.The Australian gold miner realised a profit of 1.18 billion dollars American,or 1.12 billion Australian,for an increase of 23% on the year.The success was based on higher gold prices.It also raised its output target for 2013.Two new projects are nearing completion in New South Wales and Papua New Guinea.
Japan announced disappointing GDP growth for Q2.It grew 1.4%,versus an estimate of 2.3.The Euro debt crisis;a higher yen value;a sharp fall in private consumption because of less government spending post-tsunami/nuclear disaster;and the end of subsidies for fuel-efficient cars are being blamed for the weak growth.Hong Kong and Singapore have cut their growth forecasts in the bargain as the global slowdown reaches Asia.
Australia's BlueScope Steel is selling 50% of its coated steel business in the US and  Southeast Asia to Japan's Nippon Steel.BlueScope,Australia's largest steelmaker,will get 440 million dollars in the transaction,while Nippon will gain greater access to US and Southeast Asian building markets.The total value of the joint venture is 1.36 billion dollars American,or about 1.29 billion Australian.
The MSCI Asia Pacific index was virtually flat in early Monday trading,down just 0.02%.
Newcrest Mining Ltd.(ASX:NCM),BlueScope Steel Ltd. (ASX:BSL)

Asia This Day:Japan Restarts Nuclear Plant;Confidence Up

Despite loud protests,Japan has restarted its Fukui Prefecture Ohi nuclear power plant,saying the quality of life was being hurt by the recent switch to more expensive fossil fuels.The country had placed a moratorium on nuclear power a few months ago for safety checks in the wake of last year's meltdown at the Fukushima nuclear plant.
The Tankan survey of Japanese large companies showed a greater than expected increase in business confidence.Australian home prices rebounded the most in two years on rate cuts,while manufacturing contracted at a slower pace in June than in May.
The HSBC China Purchasing Managers Index fell to 48.2 in June from 48.4 in May.It has shown contraction for the past eight months.Manufacturing orders and export demand are down on the Euro-zone debt crisis.The Shanghai Composite Index was down 0.42% in early Monday trading on the news.
Hong Kong's stock market is closed today following the inauguration of the territory's new chief executive,C.Y. Leung,on Sunday morning.Chinese Premier Hu Jintao attended the ceremony.Tens of thousands of protesters marched through the streets,denouncing Mr.Leung,a former real estate executive,as a Beijing figurehead.A big fireworks display was nontheless held to celebrate the 15th anniversary of the handover of Hong Kong to China by the U.K.
India's Nifty Fifty stock futures index rose on optimism about a Euro-zone agreement on how to resolve the debt problem.
iShares MSCI Japan Index Fund(EWJ)

Boeing 787:Signed,Sealed and Delivered-At Last

After a ponderous three year delay caused by everything from supplier issues to design flaws,Boeing has finally delivered the first 787 Dreamliner to Japan's All Nippon Airways.A collective sigh of relief may well have sounded around the world's airline headquarters as some 500 Boeing employees,many of them carrying umbrellas on the rain-soaked runway of Washington state's Everett Field,walked the state-of-the-art aircraft to All Nippon executives in a dramatic transfer ceremony.Boeing hailed the event as the beginning of a new era in commercial aviation.
The Dreamliner is Boeing's first new civilian aircraft on the market in 16 years.It will make its first commercial flight on October 26 on a route from Tokyo to Hong Kong.
The sleek airliner is the first to be partially fabricated from carbon fiber composite material.The lightweight mesh of carbon fiber and epoxy makes the 787 20% more cost effective to fly,cutting back markedly on the amount of fuel needed.Modular construction reduces the assembly time from months to a matter of days.The plane's components are produced by a global network of contractors.
The Dreamliner,which features larger luggage bins and windows,as well as soft blue lighting,is the best-selling new jet in history.Despite the delays,Boeing has 821 orders for the plane on its books.This will ensure the jobs of thousands of workers for decades to come.
Boeing(BA)

Australia/New Zealand Weathering Crisis

Wayne Swan,the Australian Treasurer,has been attending the international meetings in Washington.He reports a mood of sober realism as the Euro debt crisis was discussed.The global economy is in a dangerous phase.Australia's fundamentals are rock-solid,however,Mr.Swan pointed out.
Hong Kong's Swire Properties,Ltd.,a division of Swire Group,is looking towards an eventual initial public offering.There's a long way to go before we can say we have a listing,according to CEO Martin Cubbon.In the medium term,there's no fund-raising needed.There is a great deal of uncertainty around the world.Swire develops and manages commercial,retail and residential real estate.
The New Zealand trade deficit was 641 million dollars in August.The New Zealand dollar held to declines because of this.Nonetheless,the Treasury and Reserve Bank remain optimistic about the economy.
It was 66F in Sydney on Monday under partly cloudy skies.The wind was Southeast at 18 mph,and the humidity was 52%.

Sinopec Excels in First Half

Asian shares opened mostly higher on Monday,as Federal Reserve Chairman Ben Bernanke's recent remarks on the U.S. economy and the Fed's capacity for aiding it were viewed favorably.China's Sinopec,Asia's biggest oil refiner,posted record profits for the first half of 2011.This was even though they aren't allowed by the government to pass rising costs on to consumers,showing the company's great skill in managing expenses.
China has raised reserve requirements on banks again.The expansion of controls may drain a further 140 billion dollars from the banking system over the next six months.This is on top of previous measures that lifted reserve requirements to a record 21.5% as China attempts to rein in inflation and its trade surplus.
Cathay Pacific has accepted a new 777 airliner from Boeing and has 35 more of them on order.The Hong Kong airline is upgrading its business class with private alcoves that offer more table space and a flat bed for side-sleepers.Cathay says it has gotten fantastic feedback on the new accommodations.
South Korean golfers Hee-Won Han,Na Yeon Choi and Jiyai Shin shared sixth place with Korean American Jenny Shin at the CN Canadian Women's Open in Mirabel,Quebec.American Brittany Lincicome won the event.Jessica Shepley was recognised for lowest score by a Canadian,finishing at one under par.
In Shanghai Monday morning,it was 86F under mostly cloudy skies.Winds were E at 9 mph,and the humidity was 66%.
Boeing(BA),Sinopec(SHI)