Asia This Day: Australia's Energy Assets;Japan's Economic Outlook

PetroChina is seeking 3.7 billion dollars of Australian energy deals.Overall,the state-owned oil and gas enterprise is looking to acquire 60 billion of overseas assets in the next 10 years.
Beach Energy Ltd is exploring an Australian shale gas field with Chevron.The company said the Cooper Basin region in the Australian outback will be a major onshore petroleum province.The gas in the basin could meet New South Wales needs for the fuel well into the future,plus be delivered into export markets through liquified natural gas facilities.
China's January-February industrial production was up 9.9 %,the weakest start to a year since 2009.The country is consolidating its 27 government ministries into 25.The ministry of railways,which employs 2 million people,will be split in two,between a policy arm and an executive arm.This is in line with railway ministries in other parts of the world.
In historical terms,the silver market is quiet,said Greg Smith,Director at Global Commodities Ltd in Adelaide,Australia.You're pretty close to more buyers than sellers.Solar panels are consuming it.
Silver is also used in electronics and medical applications.
I like sugar,coffee and soy meal.The inflationary impact of food could light the inflationary fire.
In Japan,the Nikkei was up at midday Monday on strong exports from the weaker yen and US employment figures.It was the eighth straight day of Nikkei gains.
Japan is doing the right thing,according to Mike Kurtz of Nomura Securities.The election on December 16 was a referendum on policy change.Kuroda-san,the Bank of Japan governor nominee,will reflate the economy.Japan could see a 30% upside over the next 12-18 months.
Hiruhiko Kuroda said he will consider continuing asset purchases.Buying derivatives is an option.
iShares Silver Trust(SLV),iShares Japan Index Fund(EWJ),Beach Energy Ltd(BPT:ASX),Chevron(CVX)

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.