News and Reviews Asian Economic Zone

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BoJ decision Yen relief

Friday, June 15, 2012

 

Bank of Japan's decision to refrain from trying to add monetary stimulus used by Yen moves higher up the two-week highs versus the greenback was hit by speculation the Federal Reserve following the QE of a surprise decline in industrial production in May and consumer confidence in June.

 

"Some market participants expect the BoJ will act, which in fact they do not. This is exactly what triggered the strengthening of the yen," said Mary Nicola, currency analyst at BNP Paribas SA in New York. "BoJ still seems to want to wait and see the development of Greece as well as what to do with the Fed."

 

BoJ on Friday decided to maintain its asset purchase targets on? 40 trillion ($ 510 billion). On February 14 last the central bank unexpectedly increased purchases of assets while setting an inflation target of 1%, which could trigger a reduction of up to 1.1% daily Yen against the U.S. dollar.

[mynameisandhy]

News and Economic Review Zone Asia (South Korea)

 

Kospi ended to positive 1.8%

Monday, June 18, 2012

 

Kospi closed up 1.8% at 253.75 after the election results boosted sentiment Greece managed to lift the stock market and blue chips. However, the strengthening of the index is still questionable as market concerns over the development of European debt issues unresolved.

 

"Today, the index shot almost 2% but trading volume is very low because investors are not fully convinced that the strengthening of the market will continue," said Woori Investment & Securities analyst Lee Kyoung-min. Among the stocks that performed nicely in the stock lanta, among others:

 

- Hyundai Motor +3.5% to KRW248, 500

- Samsung Electronics +2.1% to

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Hang Seng closed down between worries Spain

Tuesday, June 19, 2012

 

Hong Kong experienced its first decline in three days, slipped from its highest range in the last month. yesterday, the Hang Seng had surged to its highest range driven pro-bailout party's victory in Greek elections. But the widespread concern over the rise of investor return tradeoffs Spanish and Italian bonds.

 

Hang Seng Index closed down 0.1 percent to 19416.7. China Enterprises Index down 0.2 percent at 9800.2. CSI 300 Index fell 0.9 percent below the average range of 100 days.

 

Tsingtao Brewery fell 7.8 percent, almost 37 times the range of the average 30 day. Tsingtao Brewery is closed under the range of its lowest since May 23. The decline occurred after the third largest shareholder in the company is selling 1.5 billion Hong Kong dollar holdings.

 

Guangzhou Pharmaceutical rose 12.1 percent to its highest closing level in Hong Kong after the Chinese media said that the supervisor has received a draft of the company restructuring and asset purchases to increase the efficiency operasionalnmya. The company also is preparing to join the Guangzhou Baiyunshan Pharmaceutical.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Nikkei Not Optimal The Stimulus Issue

Wednesday, June 20, 2012

 

Japan's Nikkei index closed at the end in the positive region on Wednesday (20/6) is mainly due to widespread speculation that the U.S. Federal Reserve (the Fed) will launch a new round of monetary stimulus (Operation Twist) in anticipation of slowing economic growth and prevent the impact of the crisis debt countries in the eurozone.

 

The Nikkei closed the trade with the rebound to a level of 1.1 percent or as much as 8,752.31 +96.44 points and the highest closing level since May 17 and thanks to the increased risk of triggering senimen stocks gain on insurance and real estate sectors.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Value of Stocks and Commodities AIG After the exit of China Manufacturing Data

Thursday, June 21, 2012 16:42 pm

 

atuh his stock and commodity prices to their lowest level since November 2010 after manufacturing data out of China and Germany. And The Federal Reserve reduced the growth in the estimate. Euro weakened, while the Spanish Bonds rally before the auction.

 

MSCI at 15:39 pm Fall to a level of 0.4% in London, S & P 500 Index fell to 0.5%. Bond yields a tenured Spanish 2 years fell 10 basis points to 4.92% level. The euro weakened by 0.5% to $ 1.2650. the Standard & Poor's GSCI be the reference price of 24 commodities fall more than 20% of the highest closing price in February. Usually the bear market is defined. Oil falls below $ 80/barel for the first time in 8 months.

 

The results of the German manufacturing is expected by economists in June, while China's manufacturing output decline results in eight months, according to the index Puchasing managers' from Markit Economics and HSBC Holdings Plc. Fed officials will cut economic growth estimates in 2012 to 1.9% and 2.4% and the added stimulus known as "Operation Twist". Spain plans to sell more than 2 billion euros in notes today.

[mynameisandhy]

News and Economic Review Asia Zone

 

Widening Yield Difference Yen Hurt

Friday, June 22, 2012, 15:02

 

The yen fell to its weakest level in almost a month against the U.S. dollar on Thursday as U.S. bonds yield 2-year tenure surpassed Japan to yield a greater margin. The difference between yields on U.S. and Japan have started to move widened since June 4 last, and reached the highest level on Wednesday. Current yield on 2-year U.S. bond yields have surpassed Japan's as much a similar 20 basis points, or 0.2%.

 

From the fundamental side, one of the factors that may also have supported the Yen weakened against the Japanese parliament approved two new candidate members of the Bank of Japan policy board who are known for having dovish views. With the new members who favored easing policy further to sustain the Japanese economy, making the asset purchase program expansion opportunities BoJ over the next few months to be great.

 

From the technical side, the head analyst at FXDD, Greg Michalowski, believes if the penetration level? 80.15 which is 38.2% retracement of the decline in March-June 2012 has given way for the greenback to test the 100-day MA is currently located in the vicinity? ? 80.41

[mynameisandhy]

News and Economic Review Asia Zone

 

Drama European Debt Markets Still haunt Asia

Monday, June 25, 2012

 

European debt drama still haunts the movement of Asian stock markets today (25/06). Most of the stocks are still stir in the negative zone, including:

 

- Nikkei -0.7%

- S & P / ASX -0.6%

- HSI flat

- Kospi -1.2%

- Taiex -0.8%

- Sensex +0.6%

- Shanghai Composite -0.9%

- STI - 0.3%

- NZX-50 +0.1%

 

In the forex market, the euro weakened against the USD and JPY due to the market anxiety ahead of Thursday's meeting of the European Union (28/06) which will be a market for short-term guidance. EUR / USD at 1.2495 from 1.2574 late Friday in New York, EUR / JPY at 100.35 from 101.14, and USD / JPY at 80.13 from 80.43.

 

CPI in May rose 5.0% in Singapore per year, down from the month of April increased by 5.4% and below expectations for a gain of 5.1%. Monetary Authority of Singapore and Bank of Thailand made ​​a covenant collateral to access memingkatkan liquidity to financial institutions in both countries.

The price of gold at $ 1,570.00 while the August Nymex oil at $ 80.19/barrel.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan Tax Increase Bill Approved

Tuesday, June 26, 2012

 

Japan's lower house of parliament on Tuesday passed a bill decided to increase the consumption tax to 10% in 2015, a controversy that could potentially lead to a split within the ruling camp and led to early elections.

 

Legislature dominated Democratic Party of Japan succeeded in securing the bill is to scoop up 363 votes while 96 voted against. Absolute victory is also not free from the defection of two members of the main opposition party the government is turning back the proposal.

 

But the decision also followed by negative news about the 57 members of parliament from the ruling party who voted against the bill a tax increase. With all 57 members of the risk out or removed, making the Democratic Party is also at risk of losing a majority in parliament's lower house of Japan. Under these conditions the lower house would be put in a position vulnerable to a confidence vote, which could force the holding of early elections before the 5-year period ending in 2014.

 

While on the other hand, Moody's Investors Service gave a positive credit to government tax increases are related discourse, because such a move would help control the Japanese budget deficit is huge, according to Moody's credit officer for Asia, Tom Byrne.

 

However, the impact of tax on political stability in Japan so far is still not clear, so it is not clear whether the enforcement of a tax increase also will be bringing a threat to Japan's credit rating or not, Byrne added.

[mynameisandhy]

News and Economic Review Zone Asia (South Korea)

 

KOSPI end the day with a slight decline

Wednesday, June 27, 2012

 

Samsung Electronics recorded a rally make KOSPI managed to close the drop experienced in the previous session as investors are pessimistic ahead of tomorrow's meeting of EU leaders.

 

KOSPI closed down 0.01 percent at 1817.65 thin, rebounding from a decline of 1.2 percent experienced during these days. Samsung Electronics, which is 17 percent of all stocks in the KOSPI, fell 0.8 percent. it is quite good, as Samsung managed to erase an increase of 2.5 percent had experienced before.

 

Investors were surprised by the news that the U.S. courts have supported Apple Inc to ask Samsung to stop selling the Galaxy Tab 10.1 in the United States. This is related to the patent debate between the two giant companies.

 

Samsung rally and managed to remove the sharp decline experienced before. This was followed by shares of other technology companies. But the same does not happen to Hyundai Motors and Kia.

 

Hyundai, the second largest component in the KOSPI fell 3.1 percent. while the KIA Motors, the third largest component, fell 3.3 percent.

[mynameisandhy]

News and Economic Review Zone Asia (Hong Kong)

 

Hang Seng wiped out the increase

Thursday, June 28, 2012

 

Hong Kong stocks fell today, erasing earlier gains as investors are doing some profit taking from the company's stock is soaring towards the end of the month. Today the EU leaders will meet to discuss the crisis in Europe, but investors are not optimistic that will bring results.

 

Hang Seng Index closed down 0.8 percent at 19025.3. China Enterprises Index in Hong Kong closed down 1.3 percent at 9336.4. Shanghai Composite Index dropped seven consecutive times. Throughout today's Shanghai Composite was down 1 percent. Throughout the year, the Shanghai Composite fell 0.1 percent. CSI 300 Index fell 0.9 percent.

 

Cement company stocks fell today. China Resources Cement Holdings fell 5.5 percent. CNBM fell 5.2 percent while Anhui Conch fell 2.6 percent.

 

Yurun Foods fell 12.6 percent is almost six times the range of the average 30 day and closed at its lowest range since October 19, 2006.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Cameroon China 368 Million Euro Loan for Infrastructure

Friday, June 29, 2012

 

 

Cameroon and China signed a major infrastructure deal on Thursday (28/6), which Beijing will give a loan to the African country's 368 million euro.

Proceeds will be used to build the first new freeway Cameroon since independence in 1960.

 

China Exim Bank will lend Cameroon 241.4 billion CFA francs (368 million euros, 451 million U.S. dollars) for the first phase of the highway between the economic center of Douala on the west coast and the capital Yaounde at the center, said a statement.

 

Five-year road project along 215 kilometers (135 miles) it will cost a total of 284 billion CFA francs, he said. Cameroon officials did not say how the government plans to fund the remaining 15 percent.

 

Cameroon's Minister of Economics Emmanuel Nganou Djoumessi said the government has invited offers from companies in China.

 

Exim Bank has been a major funder of development projects that African countries because of China's economy has increased dramatically. Between the two cities now connected two-lane road that is one of the most deadly jaln in this country.

[mynameisandhy]

News and Economic Review Zone Asia (South Korea)

 

Kospi ended Weakens, Up Down From the Morning

Monday, July 2, 2012

 

After a rise in early trading this morning, the Korean stock market experienced a decline in late trading. Investors seem to have enough courage to maintain the volume of buying long-term after global economic conditions at the beginning of this week has not shown a significant change.

 

Kospi index ended down by 0.13% to 1851.65 basis points. While index futures experienced a flat on the position of 244.58 basis points, with the support level of 241.54 points and 248.97 points at level resistant.

 

Stocks that declined include Hankook Tire is the stock fell by 1.1% menjai 44 800 won, Daelim Industry shares fell 0.11% to 90.1 thousand won and Yuhan shares fell 0.75% to 132 500 won.

 

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of the Korean stock market is predicted for tomorrow's limited move in line with the favorable conditions such as the decline in U.S. manufacturing data speculation.

[mynameisandhy]

News and Economic Review Zone Asia (Hong Kong)

 

Hang Seng closed soaring

Tuesday, July 3, 2012

 

Hong Kong bourse soared to its highest range for seven days this last week, after returning from a holiday in length. The hope of easing the policy of the European Central Bank kept investors excited. Hang Seng closed up 1.5 percent to 19735.5. China Enterprises rose 1.3 percent. CSI 300 Index and Shanghai Composite slightly corrected and each closed up 0.1 percent, helped by the property sector.

Shares of coal companies, which previously fell due to little demand and excess supply, experienced a sharp recovery. China Shenhua and China Coal up respectively more than 4 percent. Yanzhou Coal up 5.8 percent.

Shares of major auto companies have not been able to look up from keterpurkannya. Foreign investors seem less interested in the automotive sector after a report saying that China will limit the purchase of cars per tahunnnya to tackle congestion. Brilliance Automotive fell 1.9 percent.

[mynameisandhy]

News and Economic Review Asia Zone

 

Regional stock exchange soared tertopang Rumor Pruning Flowers

Wednesday, July 4, 2012

 

Asian stock markets soared on Wednesday triggered by a poor indicator of the global economy will force the central bank to stimulate the economy through easing monetary policy.

 

During the Asian trading session, Hong Kong's Hang Seng index rose 0.11%, while the S & P index rose 0.85% Australia/ASX200, while Japan's Nikkei rose 0.57%.

 

The weak manufacturing data and labor continued speculation among market participants that the central bank, particularly the Federal Reserve will take steps to prop the economy through the bond buyback program through banks, known as Quantitative Easing program. Where the effect of the QE program, is the weakening dollar strengthened while the various regional exchanges.

 

Earlier this week, the ISM data report that U.S. manufacturing activity index fell to 49.7 in June, compared with 53.5 for the previous May. Whereas readings below 50.0 indicates contraction of industry. June figure was also the lowest level since July 2009 and well below analyst estimates of 52.0.

 

Looking ahead, attention will be focused on the U.S. labor market report for the month of June which will be released on Friday, where the weak points back potentially sparking speculation the Federal Reserve through the intervention of the QE program.

 

In Europe, the euro zone unemployment rate jumped to a record high of 11.1% in May, compared to 11.0% for the month of April.

[mynameisandhy]

News and Economic Review Zone Asia (Hong Kong)

 

Hang Seng closed Weakens Thin, Stay on 19 800 points

Friday, July 6, 2012

 

Hong Kong stock exchange for trading today (6/7) closed flat. Limited mobility is stable enough hit Hong Kong. The lack of positive sentiment pushed the movement of the stock moves in the territory 19790-19810 basis points. The weakening of the U.S. stock markets overnight was the strongest factor in the weakening of the Hong Kong stock exchange.

 

Hang Seng Index ended down by 0.04% to 19800.64 basis points. While index futures declined by 28 basis points to 19 827 points with the support level of 19 419 points and resistant level at 20 212 points.

 

The shares of which are weakened China Mobile shares fell 0.17% to 85.65 HKD, ICBC shares fell 0.7% to EUR 4.26 and CNOOC shares fell 1.27% to EUR 15.5.

[mynameisandhy]

News and Economic Review Zone Asia (Hong Kong)

 

HKD Up Against Dollar, Euro and U.S. Dollar pressured

Monday, July 9, 2012

 

Dollar Hong Kong trading today (09/07) shows the movement of the yen strengthened against the pair EUR / USD. Hong Kong dollar is monitored on a reversal pattern in the last two months of trading.

 

Meanwhile the U.S. dollar against the pair USD / HKD, Hong Kong dollar has tracked the movement of a thin and weakened exchange rate movements are rolling down show about?? "0.01%. Against the Euro currency is tracked down, and roll rate showed a decline?? "0.12% in the pair EUR / USD.

 

The performance of stock trading in the stock Hag Seng index which shows the development of leading shares fell Hong Kong's Hang Seng Index today closed down quite sharply observed around -1.88% at 19428.09, and the Hang Seng Composite Index closed down reported approximately -1.96% at 2645.27.

[mynameisandhy]

News and Economic Review Zone Asia (Hong Kong)

 

Hang Seng fell

Tuesday, July 10, 2012

 

Financeroll - Hong Kong stocks declined for three consecutive days, led by shares of companies that deal with imports. China import data disappoint, making concerns about China's growing economy.

 

Hang Seng Index closed down 0.2 percent at 19,396,4. China Enterprises Index closed down 0.6 percent to 9386.7. CSI 300 Index closed down 0.4 percent menajdi 2,406,7, the lowest level since January 16. Shanghai Composite fell 0.3 percent.

 

ZTE Corp, the fifth largest telecom company in the world by sales, fell 8.8 percent to its lowest point for more than three years akbiat concerns that quarterly earnings may fall due to the crisis of Europe.

 

Samsonite International SA, the company is the world's largest luggage maker, fell 7 percent to its lowest level in six months due to news of the two largest stock pemengang company will sell its stake.

[mynameisandhy]

News and Economic Review Zone Asia (Indonesia)

 

Foreign Players Still Buy Stocks, JCI Strong

Wednesday, July 11, 2012

 

Indonesia Stock Exchange closed up 0.2% to 4019,133 in the middle of the lack of trade transactions. Foreign players to buy shares and stock options telekomonukasi banking blue chips quarter earnings expectations due to a strong first half, traders said.

 

For Thursday (12/07) market is predicted to gather gain with resistance at 4050 levels. "The actions of foreign investors who continue to make purchases will push the index continues to move up," said a trader at a local securities firm. Foreign investors to buy shares worth IDR263 billion. They sold shares worth up to IDR531 billion in the last two sessions. Among stocks that gain, Telkom (TLKM.JK) rose 2.4% to IDR8, 450 and Bank Mandiri (BMRI.JK) +1.4% to IDR7, 050. Profit-taking hit the shares of the Earth (BUMI.JK), which fell by 1.8% to IDR1, 120.

[mynameisandhy]

News and Economic Review Zone Asia (Hong Kong)

 

Hang Seng closed 2.03%, Investors Still Hold Position

Thursday, July 12, 2012

 

Hong Kong stock exchange today (12/7) closed down and went up close to a negative movement of 19 000 basis points. Adverse conditions in global trade and U.S. stocks overnight also further adds to the reasons that investors do not dare to invest in the long run.

 

Hang Seng Index ended down 2.03% to 19025.11 basis points. While index futures declined by 288 basis points to 19 038 points with the support level of 18 288 points and resistant level at 19 817 points.

 

Stocks that declined include HSBC Holdings stock was down 1.47% to EUR 67.1, Sino Land shares fell 0.32% to HKD 12.34 and Cathay Pacific shares fell 1.4% to 12.66 USD.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

The yen approached its highest level

Friday, July 13, 2012

 

The yen is 0.3 percent of its strongest level in six weeks against the euro as signs of weakening world economy.

 

China's economy growing more slowly than experts predicted in the second quarter. Australian dollar moved up as Asian stocks surge after the release of data from China. While the euro was 0.3 percent of the lowest range for two years after Moody's Investors Service cut its credit rating of Italy.

 

Slightly corrected at 96.73 yen per euro. Yesterday, had touched 96.43 yen per euro, its highest level since June 1. throughout the week, the yen to rise by 1.2 percent against the euro. Against the dollar, the yen was at 79.30 per U.S. dollar. that leads the yen by 0.5 percent weekly gain against the dollar.

 

The euro was at 1.2201 per dollar from the range of 1.2203 per U.S. dollar yesterday reached. The euro had touched 1.216 per dollar, its weakest since 2010. The Aussie rose 0.2 percent to 1.0163 per U.S. dollar.

[mynameisandhy]

News and Economic Review Zone Asia (Singapore)

 

Singapore Shares Rise Slim; SGD Refine Records Strongest in 12 Years Against Euro

Monday, July 16, 2012

 

Movement of the Singapore dollar on currency trading today (16/07) showed a positive sentiment towards the currency, and looked up at the pair EUR / USD.

 

Performance of stock trading in Singapore stock exchange shows the development of less profitable when the stock index flagship STI Straits Times Index closed at today's tracked down about + 0.11% at 2998.75, and so does the FTSE ST All-Share Index closed down about + 0.12% on 726.50.

 

In the pair USD / SGD, Singapore dollar weakened against the dollar tracked the U.S. and exchange rate movements are rolling down show about?? "0.23%. Against the euro on the pair EUR / USD currency strengthened monitored, and the revolving rate showed an increase of about + 0.52%.

 

Singapore dollar strengthened against the Euro seems more and create a new record for the strongest position in the pair EUR / USD in the last 12 years.

[mynameisandhy]

News and Economic Review Asia Zone

 

China and Japan Add U.S. Bond Collection

Tuesday, July 17, 2012

 

China remains the largest holder of U.S. government bonds, but the Japanese do quite aggressively buying U.S. government bonds in May, according to data released by the U.S. Treasury. China is just buying the bonds as much as $ 5.2 billion in May, after buying $ 20.4 billion in April; but ownership of China reached $ 1.17 trillion. Japan also heavily manambah collection of U.S. government bonds from the $ 1.09 trillion to $ 1.105 trillion.

 

Incessant purchases by # 2 and # 3 biggest economy reflects the amount of investor interest in U.S. government bonds amid a growing global economic slowdown signals. Although U.S. government bonds offer only low yields but such financial instruments is glimpsed as a safe-haven assets. This is also reflected in the surge in capital flows into the U.S., not including swap facility, which reached $ 55 billion for the month of May, up from $ 27.2 billion the previous publications.

[mynameisandhy]

News and Economic Review Zone Asia (South Korea)

 

North Korea threatens, the KOSPI flagging

Wednesday, July 18, 2012

 

South Korea Stock Exchange fell today ahead of the second day of the Fed chairman reports before Congress. In addition, investors also seemed worried by the news that North Korea will launch its assault on South Korea.

 

KOSPI fell 1.48 percent to close at 1974.91. South Korea looks to panic today after a media saying that North Korea will deliver "important report" this afternoon. Other sources reported that Kim Jong Un, president of North Korea, ready to storm the South Korean soldiers.

 

Shares of shipbuilders experienced a sharp blow. Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engingeering fell 4.9 percent respectively.

 

Banking stocks also fell after the four commercial banks in South Korea case involved alleged collusion deposit rating. These four banks fell more than 2 percent. Hana Financial Group suffered the sharpest decline of 2.7 percent. Woori Finance Holdings fell 2.6 percent.

 

SK Hynix, the company's second-largest chip maker in the world, fell 4.9 percent as Intel Corp., which lowered its sales estimates. This indicates a lack of interest in the computer market.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Shanghai Stock Exchange experienced the steepest increase

Thursday, July 19, 2012

 

China's Stock rose most sharply in the last two weeks of speculation as investors who suspect that the Chinese government will loosen its policies to the development of Chinese economy more vibrant.

 

China Life Insurance Co has increased rapidly after Essence Securities Co said that the government will increase the life and health insurance industry. SAIC Motor Corp shares rally among automotive. while oil prices which touched its highest level in seven months makes PetroChina rose 1 percent.

 

Shanghai Composite Index rose 0.7 percent to 2184.84. About seven stocks rose for every two Shanghai yagn down. CSI 300 Index rose 0.4 percent to 2424.32.

 

Chinese Premier, Wen Jiabao will probably ease the requirements on bank lending to accelerate the pace of China's economic development. European crisis is increasingly showing the impact of China's economy seems to make the walk haltingly.

[mynameisandhy]

News and Economic Review Asia Zone

 

China's property market so negative sentiment Asia

Friday, July 20, 2012

 

Asian stocks flushed on transaction weekend. At 15:21 pm Tokyo time, the MSCI Asia Pacific fell 0.8% to 116.63. However, throughout the week, the stock reference in this region has climbed 1.2%. In each of the five stocks are down, there are three stocks that go up.

 

Meanwhile, the Nikkei 225 Stock Average fell 1.4%, South Korea's Kospi index was not much to record changes, and the S & P / ASX 200 fell 0.2% Australia. While the benchmark index such as the Straits Times Index fell 0.6% in Singapore, Hong Kong's Hang Seng index fell 0.1%, and the China Shanghai Composite Index fell 0.7%.

 

Asia stocks with large capitalization index step into the ballast. Some of them are: Toyota Motor Corp., which dropped 1.8% in Tokyom porperty Shimao Holdings Ltd. slumped 1.4% in Shanghai, and Taiwan Semiconductor Manufacturing Co fell 1% in Taipei.

 

Negative sentiment this time originating from China. Xinhua news agency reported, the State government Panda will not loosen control over the property sector. In addition, U.S. economic data also did not fit predictions of market participants.

 

"The global economic recovery is still fraught with uncertainty. Stock market investors to be patient," said Prasad Patkar, an analyst at Platypus Asset Management Ltd. in Sydney.