Japan stocks soar, Shanghai slips

Japan stocks soar, Shanghai slips

Unknown   Monday, April 22, 2013

Japanese stocks rose Monday, major Asian markets by a wide margin, with the yen falling as investors interpreted a statement by the Group of 20 leading economies Friday to offer the support of the international community in Tokyo monetary stimulus.

Japan's Nikkei (TYO: JP: NIK) rose 1.9%, getting a shot in the arm while the dollar climbed back to just below 100 yen level psychologically important.

The G20 leaders on Friday refrained from criticizing Japan for policies that weaken the yen and provided a boost to its exporters competitive.

He said monetary policy actions in Japan were intended to end deflation, while adding that the government should "define a credible fiscal plan in the medium term."

"There was a lot of attention in currencies in the G-20, but the end result left the door open to further [yen] weakness .... Apart from a probable violation of ¥ 100 is not likely to be much further through the G-20 this week, "said Credit Agricole chief global market research in Asia, Mitul Kotecha.

Elsewhere in the region, from Australia S & P / ASX 200 (ASX: AU: XJO) gained 0.3%, Taiwan's TAIEX (TPE: XX: Y9999) by 0.6% and Korea's Kospi South (KRX: KR: SEU) rose 0.1%.

Among the markets in China, the Hang Seng Index (HSI: HK: HSI) rose 0.1% higher in Hong Kong, while the Shanghai Composite (SHA: CN: 000001) lost 0.3% to return part reported earnings last week despite strong losses for global commodity prices and some concerns about the trajectory of China's economic growth.

The downward movement in Shanghai came as insurers fell after an earthquake of 7.0 magnitude in Sichuan province that killed at least 186 people and injuring thousands, while some construction-related shares advanced hopes for reconstruction activities in the affected region.

In Shanghai, the China Life Insurance Co. (NYSE: LFC) (HKG: HK: 2628) (SHA: CN: 601628) fell 2.7% and Ping An Insurance Group Co. (SHA: CN: 601318) (OTN: PNGAY) lost 1.4%.

Those losses helped offset a 0.9% increase in the shares of Anhui Conch Cement Co. (SHA: CN: 600585) and an increase of 0.2% in Baoshan Iron & Steel Co. (SHA: CN: 600019)
In Hong Kong, China Life (HKG: HK: 2628) (SHA: CN: 601628) lost 1.9% and Ping An (HKG: HK: 2318) fell 1.6%, while Anhui Conch (HKG: HK : 914) Advanced 1% and Angang Steel Co. (HKG: HK: 347) (OTN: Anggy) rose 2.5%.

Some economists said that despite the magnitude of the latest tragedy, the economic impact is likely to be lower than the May 2008 earthquake in Wenchuan, causing more devastation.
 

"As the impact of earthquake Lushan [Saturday] is limited to only a few counties in remote mountainous areas with small populations (total about 300,000), it is expected that the need for reconstruction is relatively small," said Bank of America Merrill Lynch economist Ting Lu.
 

Assuming that the budget for earthquake reconstruction finally amounts to about 10 billion yuan ($ 1,520 million), will be equal to 0.4% of gross domestic product in the province of Sichuan, and 0.02% of GDP China in 2012, Lu said.
 

In Tokyo, meanwhile, exporters gathered to lead the way, with the dollar (ICAPC: USDJPY) buys 99.80 yen in Tokyo morning trade on average, compared with 99.52 yen in North America on Friday. The dollar has not exceeded the level of 100 yen since April 2009, according to FactSet Research.
 

Shares of Canon Inc. (TYO: JP: 7751) (NYSE: CAJ) added 2.4%, Nissan Motor Co. (TYO: JP: 7201) (OTN: NSANY) gained 3.6%, and Fujitsu Ltd. (TYO: JP: 6702) (OTN: FJTSY) rose 4.4%.
 

Finance also met with the support of the G-20 to fight in Japan to end deflation, with Mitsubishi UFJ Financial Group Inc. (TYO: JP: 8306) (NYSE: MTU) rising to 2.5% , and Shinsei Bank Ltd. (TYO: JP: 8303) (OTN: SKLKF) climbing 3.1%.
 

Shares of Mitsui Engineering & Shipbuilding Co. (TYO: JP: 7003) soared 13.6% in heavy trading volume after reports in the Japanese media that the company is in preliminary talks for possible integration with Kawasaki Heavy Industries Ltd.
 

Kawasaki Heavy shares (TYO: JP: 7012) (OTN: KWHIF) gained 1.8%.
Astellas Pharma Inc. (TYO: JP: 4503) (OTN: ALPMY) rose 1.4% after the Nikkei newspaper reported the company probably reserved a 14% increase in operating profit of the group for the year ended 31 March, exceeding projections.
 

Back in Australia, some commodity stocks advanced after gold prices rallied to raise more than $ 1,400 an ounce. Shares of Perseus Mining Limited (ASX: AU: PRU) (OTN: PMNXF) increased 2.6%, while Newcrest Mining Ltd. (ASX: AU: NCM) (OTN: NCMGY) rose 0.2%.
 

Also in Sydney, shares of Oz Minerals Ltd. (ASX: AU: OZL) (OTN: OZMLF) skidded 7.9% after cutting its forecast for copper production.

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Japanese stocks exploded higher in last day of week

Japanese stocks exploded higher in last day of week

Unknown   Friday, April 05, 2013

Japanese stocks exploded higher on Friday, with the Nikkei adding more than 4% in a matter of minutes, as the aggressive easing previous day's movements that the Bank of Japan kept the yen sharp drop overnight.

The Nikkei Average JP:NIK +3.18% rallied 4.1% to 13,159.40 after a 2.2% advance Thursday, while the Topix traded up 4.3%.

With the dollar by adding a total of two yen for its kind since the previous close of Tokyo, exporters show strong gains, while the main property shares remained offer only after the central bank said it would buy more-Real Estate Investment Trust values​​ Among the exporter names.

Sony Corp. JP:6758 +2.23% SNE +3.47% rose 4.5%, Olympus Corp. JP:7733 +2.06% OCPNF -0.55% surged 6%, Hitachi Ltd. JP:6501 +5.84% HTHIF -1.56% added 5.1%, and Toshiba Corp. 

JP:6502 +4.05% TOSYY +3.92% traded 4.9% higher, with the greenback buying ¥96.53. Likewise, the auto sector zoomed higher, with Toyota Motor Corp.

JP:7203 +3.35% TM +4.71% up 3.4%, Nissan Motor Co. JP:7201 +7.35% NSANY +5.47% jumping 7.2%, and Honda Motor Co.

JP:7267 +2.88% HMC +5.40% adding 3% despite a Kyodo News report that it was recalling more than 145,000 vehicles in Japan. 

Among real-estate shares, Mitsui Fudosan Co. JP:8801 +9.22% MTSFF +5.20% , Mitsubishi Estate Co. JP:8802 +6.11% MITEF +2.04% and Sumitomo Realty & Development Co.

JP:8830 +6.60% SURDF +12.61% had yet to open 15 minutes into trading, though Sekisui House Ltd. JP:1928 +4.66% showed a 5.7% pop.

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Latest Update of Stock Market

Latest Update of Stock Market

Unknown   Friday, April 05, 2013

Japan's Nikkei Average up 3.2% in early minutes

Japan's Topix rises 2% to 1,058.06 in early moves

Japan's Nikkei Average opens 2% up at 12,880.82

Japan's Nikkei Average futures rise 1.8% on SGX

Australia miner stocks rise as banks sink

Australia's S&P/ASX 200 up 0.1% at 4,919.50 early

H-P yields, but not enough, to discontent

Bond-buying program a success to date

Housing rebound is 'very convincing'

Idaho exempts cloud software from sales tax

Xyratex swings to loss as revenue slumps

WD-40 profit falls 1.2% on higher expenses

Yellen: Fed policy now depends on communication

Ray Lane steps down as H-P chairman

Best Buy turns the tables on ‘showrooming’  

Shell Canada submits plan for LNG export plant

Energy stocks higher, refiners recoup some losses

Fed's Yellen: Policy now depends on communication

Best Buy turns the tables on ‘showrooming’  

Fed must be open about path of rate hikes

At some point bond buying will end

Encouraged by recent healing signs

Economy still needs ultra-easy policy

Fed's Yellen: Policy now depends on communication

Obama 'saddened' by film critic Ebert's death

Fund, ETF buyers rekindle animal spirits

Fed, ECB, BOJ go their separate ways

Thursday’s movers: Facebook jumps on new “Home”

Ray Lane to step down as H-P Chairman: WSJ

Chevron's Richmond, Calif., refinery restart delayed to June

Feds talk about identifying risky non-banks

U.S. stock indexes stimulated by Japan

Hewlett-Packard chairman stepping down -- report

Facebook’s “Home” stands out in tech action

GAO: ‘Intelligence firm’ disclosure could help SEC

U.S. stocks end higher on Bank of Japan stimulus

Nasdaq Composite climbs 6.38 points to 3,224.98

S&P 500 index gains 6.29 points to 1,559.98

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Euro gains while Yen plunges on Bank of Japan easing plan

Euro gains while Yen plunges on Bank of Japan easing plan

Unknown   Friday, April 05, 2013

The U.S. dollar rose against the yen on Thursday, after the Bank of Japan announced a massive program of relaxation intended to end deflation in the Japanese economy.

The 0.01%  U.S.Dollar JPY 96.16 yen Japanese shot Thursday from 92.90 yen, just ahead of the BOJ's decision. It traded around 92.78 yen in the North American trade late Wednesday.

Japanese Relaxation excites Asia
Asian markets rose after the Bank of Japan announced plans aggressive fight against deflation. The WSJ Phred Dvorak says Michael Arnold how other countries are reacting to the new route from Japan.

In the first policy meeting under Gov. Haruhiko Kuroda, who has vowed to fight against long-term deflation in Japan, the central bank pledged to achieve an inflation target of 2% in two years. Also made a radical revision of the policy with a new goal of monetary base and a sharp increase in asset purchases.

The central bank said it would increase its holdings of Japanese government bonds at an annual rate of 

¥50 trillion ($530 billion), with JGB holdings double in two years.

"There are two reasons why the dollar-yen might have gone higher: Positioning or the Bank of Japan surprised the market by being more aggressive. Think it's more likely the former than the latter," said David Woo , head of global rates and currencies research at Bank of America Merrill Lynch.

"Not so much that surprised the market by being more aggressive, but the market and reduce short yen positions and had to buy again today," Woo said, referring to Kuroda.
"A first look at the market reaction confirms that the BoJ delivered at least what the market expected: dollar / yen and Nikkei gaining higher after the announcement," Danske Bank analysts in a note. The Nikkei JP: NIK 2.20% was recovered 2.2%.

The ICE dollar index DXY 0.04%, which measures the U.S. currency against a basket of six major rivals, fell to 82,637 from 83,035 at the beginning of the session and 82,712 on Wednesday.
The WSJ Dollar Index XX: BUXX 0.06%, which measures the greenback against a larger basket, pared gains to trade at 73.53, compared to 73.78 and 73.22 in Wednesday's session.

Euro Rallies
The euro  JPY -0.02% rose more than 4% to 124.47 yen Japanese.
The euro rebounded against the U.S. dollar. The EUR USD -0.07% rose to $ 1.2946 in recent action, down from $ 1.2858 earlier in the session, and $ 1.2845 on Wednesday.

The decision comes as the European Central Bank monetary policy remained unchanged.ECB President Mario Draghi told reporters at his monthly press conference that the central bank would watch closely the incoming data and assess the risks of the bank's target for the annual inflation close to but just below 2%.

"In short, a rate cut or additional unconventional measures can not be ruled out in May," said Annalisa Piazza, a strategist at New edge brokerage in London. Annual inflation in the euro area fell to 1.7% in March.
However, the euro rebounded in the afternoon after Draghi did not explain specifically a greater reward in the future.

The labor market data has been weaker than expected this week, including the U.S. weekly jobless claims on Thursday and ADP data private payrolls Wednesday. Data culminate with Friday's jobs report as investors analyze the headline non farm payroll number and the rate of unemployment for clues about the Fed could start declining asset purchases.

The Fed has been linked to the duration of the $ 85 billion monthly asset purchases to a fall in the unemployment rate to 6.5%. "If we have a disappointment, with negative consequences for the dollar. Likely that the stimulus would take more time,".

In London, the Bank of England kept its bond purchase program unchanged and maintained its key interest rate at a record low of 0.5%, as expected.
The British pound GBPUSD -0.06% rose to $ 1.5244 from $ 1.5148 late Wednesday.

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Cyprus bailout deal, Euro rebounds in Asia

Cyprus bailout deal, Euro rebounds in Asia

Unknown   Monday, March 25, 2013

The euro rebounded in Asian trade on Monday after eurozone finance ministers agreed on a bailout of 10 billion euros to Cyprus, the island faces a looming deadline to gain support for package.Final rescue agreement occurred after 12 hours marathon talks between Cypriot President Nicos Anastasiades and the European Union, European Central Bank and International Monetary Fund.

The ECB had threatened to pull emergency funds to the country s lenders if Nicosia failed to agree on a rescue plan for Monday, raising fears of a banking crisis that threatened to further erode confidence in the troubled eurozone.In Tokyo morning trade, the euro brought $ 1.3044 and 123.79 yen, the strengthening of $ 1.2986 and 122.72 yen late Friday in New York.

Last week, the euro took a beating as traders sold the unit beset by fears over Cyprus, which faced a huge public backlash against terms of an initial bailout agreement had slapped a tax on all personal bank savings.Markets fears that failure to reach a deal could see the tiny Mediterranean country leaving the 17-nation euro area with borders overflowing consequences to other bloc members with problems such as Italy and the agreement early Monday Spain.The involves dividing the island s second largest lender Laiki

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