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Showing posts with label Asian markets Latest News at the moment. Show all posts
Showing posts with label Asian markets Latest News at the moment. Show all posts

Jun 9, 2013

Asian markets Latest News at the moment, by MarketWatch; June 09, 2013.


Asia stocks rise; Nikkei Average rebounds Japanese stocks make a strong recovery following recent losses, while other markets are modestly higher as investors digest a set of poor economic data from China. 
Hong Kong stocks rise, with banks higher LOS ANGELES (MarketWatch) -- Hong Kong stocks moved higher in early Monday trade, rising past lackluster Chinese economic data released over the weekend. The Hang Seng Index added 0.5% to 21,677.17, with the Hang Seng China Enterprises Index up 0.4%, while mainland Chinese bourses were closed until Thursday for a holiday. Financials were a strong spot after robust U.S. share gains Friday on the back of a better-than-expected May employment report. Industrial & Commercial Bank of China Ltd. climbed 1.2%, China Construction Bank Corp. and China Citic Bank Corp. rose 1.3% each, and Agricultural Bank of China Ltd. traded 0.6% higher. The property sector was mixed, meanwhile, with Sino Land Co. advancing 1.1%, but Hang Lung Properties Ltd. down 0.9%, and New World Development Co. dropping 0.5% after reports that the firm has regulatory permission to spin off its hotel assets into a trust. The broad advance came despite showing slowing growth in May across much of the Chinese economy, including a much more meager rise for exports than economists had forecast. Hong Kong's Monday gains came after solid losses the previous week, with the Hang Seng Index falling more than 3%.

Japan plans 'drastic' tax cuts for investment: Abe LOS ANGELES (MarketWatch) -- Japanese Prime Minister Shinzo Abe said Sunday his government plans to launch a dramatic tax break for corporate investment this autumn after the conclusion of upper-house elections. Speaking in an interview with broadcaster NHK, Abe promised "a drastic investment-tax reduction" representing part of the "second stage" in his reform moves to boost growth, according to a Kyodo News translation of the remarks. Stocks rose sharply Monday morning in the wake of the announcement, with the blue-chip Nikkei Stock Average up 3.2% in the early minutes of trading. 8:27 p.m. Today

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