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Showing posts with label by MarketWatch; June 09. Show all posts
Showing posts with label by MarketWatch; June 09. Show all posts

Jun 9, 2013

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



Asia

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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