News and Reviews Asian Economic Zone

[mynameisandhy]

Asian Economic News and Review (Hong Kong)

 

HK shares to open down as Moody's warns U.S.

Thursday, July 14, 2011

 

Stock Exchange of Hong Kong could be weakened Thursday morning, following the weakness on Wall Street after Moody's Investors Service warned the United States could lose the credit rating of AAA securities if Washington fails to increase the debt limit.

 

China banks hit trading at low valuations last seen during the 2008 financial crisis, could be a possibility of loss is limited by the profit forecast of China's Agricultural Bank <1288.HK> China this week.

 

Hang Seng Index <HSI.> come from the worst two-day decline in 17 months rose 1.2 percent to 21,926.9 points on Wednesday, boosted by better-than-expected economic growth in China in the second quarter.

 

But the turnover came about a fifth below that level on Tuesday, suggesting investors are not buying a large scale.

 

Elsewhere in Asia, Japan's Nikkei trading down 0.3 percent to 9,933.1 points, while the Korea Composite Stock Price Index (KOSPI) <KS11.> trading down 0.8 percent at 2,113.6 at 0753 GMT.

[mynameisandhy]

News and Review Economic Zone Asia (Japan)

 

Japanese Yen Intervention Not Sure

Friday, July 15, 2011

 

Tough strengthening of the yen in the last week has raised the prospect of intervention. However, some analysts say the intervention will not occur because the movement of the yen is still justified. "If you look at the direction of the global economy then the movement of the yen is still appropriate," said And Slater, Director of the Economist Corporate Network told CNBC. Yen often hunted as a safe-haven assets amid the global economic turmoil, especially with the proliferation of European and U.S. debt problems lately.

 

USD / JPY is still struggling in the range of 79 for the fourth day after the strongest gain in four months 78.46 earlier in the week. A stronger yen has even encouraged the Minister of Finance of Japan, Yoshihiko Noda, warned that the direction of movement of the yen, but are reluctant to provide guidance to policy intervention. "Of course Noda must show that he was worried," said Slater. "Until we get the pressure of leading economic indicators for the intervention will not be too big."

 

Policy intervention will also be contrary to the economic outlook for Japan has released the BoJ, according to Kiran Kowshik, strategic BNP Paribas. Bank of Japan, this week, raising its assessment of Japan's economy for the second time due to improved manufacturing activity and rising exports. "It is unlikely to intervene because it is inconsistent with monetary policy," said Kowshik.

[mynameisandhy]

Asian Economic News and Review (Hong Kong)

 

Hang Seng ended down, lack of sentiment Today

Monday, July 18, 2011

 

Hong Kong Stock Exchange in trading today (18 / 7) closed weakened after the trading session I had increased 44 points. The lack of sentiment and trading off in Japanese stocks today brings the impact of a quiet trade with lingering fears about U.S. financial conditions.

 

Hang Seng Index closed down 0.32% to 21804.75 basis points. While index futures declined 41 points to 21 798 basis points with the support level of 21,693 points and resistant level of 22,032 points.

 

Stocks that are weakened including Sino Land shares which fell by 0.64% to 12.38 HKD, Esprit Holdings shares fell 2.08% to 21.2 HKD and shares of Sinopec Corp. fell 0.54% to 7.59 HKD.

 

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of the Hong Kong stock exchange for trading tomorrow is expected to still not be safe to move unstable following the movement of data global economic fundamentals.

[mynameisandhy]

Asian Economic News and Review (Hong Kong)

 

Hong Kong shares closed Higher; Rebound End Session Driven Strengthening the European Exchange

Tuesday, July 19, 2011

 

Hong Kong shares rebounded Tuesday afternoon, boosted by a strong opening in European stock markets, but investors remained cautious over the outlook for the local bourse amid the foreign debt problem continues.

 

"Market rebound in late-day trading a bit surprising," said Tanrich Securities investment manager Jackson Wong. "Maybe there is hope that the U.S. debt ceiling or a debt crisis, the Euro will be a little better tonight," he said, noting the Hang Seng index rebounded in the last hour of trading possibilities is driven by the positive opening of European markets. Euro Stoxx 50 rose 1.3% to 2656.74 at 0730 GMT as investors look for deals after recent losses, but traders warned that profits may be only temporary.

 

Blue Chip Index Hang Seng rose 97.65 points, blue, or 0.5%, to 21,902.40 after trading between 21,611.16 and 21,909.54 points during the session today.

 

Market volume totaled HK $ 61.10 billion, up from HK $ 51.21 billion on Monday.

 

Analysts expect the index will be traded in the range of 21,100 to 22,800 points for the rest of this month because investors tend to keep focused on U.S. and European debt problems.

 

Hong Kong investors generally remained jittery over the prevailing global debt problem. "The market caution over the condition of the US-and European debt crisis and unless there is a significant breakthrough seen, the Hong Kong stock exchange (probably) remain weak and the range-bound," said South China Securities in a report.

 

China Mobile is the largest contributor to this rise in blue chip index, closed +1.3% to HK $ 72.35. Stocks boosted by Wall Street Journal reported that Apple's getting closer to offering the iPhone through China Mobile.

 

Li & Fung's worst-performing blue chips, dropped 3.6% to HK $ 13.48 as profit-taking after a 5.9% rise in three consecutive sessions.

 

Citic Pacific recovered from intraday low of HK $ 16.52 to end up +1.0% at HK $ 17.00, rebounding after falling 8.5% Monday, as further delays in the production of conglomerate iron ore project in Australia, but the cost of food will tune of $ 900 million again.

 

Citigroup set a Buy but cut its stake in Citic Pacific target price to HK $ 22.00 from HK $ 24.50.

[mynameisandhy]

News and Economic Review Asia (China)

 

Want to Keep the U.S. China Market Confidence

Wednesday, July 20, 2011

 

China emphasized the U.S. to take action in order to maintain confidence in the market against the dollar and U.S. government bonds; is certainly showed China's anxiety to the possibility of Washington's stated default. On the other hand, both the Congress and Senate now have its own budget austerity policy package as a prerequisite for raising the U.S. debt limit to avoid default.

 

"We hope the U.S. government will take a responsible policy and measures to increase confidence in global financial markets and protect investor interests," wrote China's forex regulator in his wesite. Investors are still not sure what to do with Beijing if the rating agencies lower the U.S. credit rating.

 

China's foreign exchange reserves reached $ 3.2 trillion and predicted 2 / 3 was deposited in U.S. dollar-denominated assets. China has uttered an important role in U.S. government bonds as an investment instrument given the high liquidity of these financial assets

[mynameisandhy]

News and Review Economic Zone Asia (China)

 

China Shares Down; PMI HSBC Weak and Inflation Concerns

Thursday, July 21, 2011

 

China 's shares ended lower today, a new manufacturing data from the HSBC accounts for concern over the economy slows and inflation remains high.

 

The benchmark Shanghai Composite Index, which tracks both A and B shares, ended down 1.0% at 2765.89, the fourth session of consecutive losses. The Shenzhen Composite Index fell 1.1% to 1206.08.

 

Loss brought the Shanghai index closer to the technical support at 2750 points. Analysts said the room to fall further will be limited in the near future.

 

"PMI HSBC is negative for the market, but I think we really saw the reaction is quite limited as investors awaited official release of the PMI in August, and the inflation rate in July," said analyst Wang Liangxing of Western Securities.

 

Purchasing Managers' manufacturing index fell to the beginning of HSBC China's 28-month lows at 48.9 in July from 50.1 in June the final value, indicating a contraction in manufacturing activity.

 

In addition to concerns about slowing growth, analysts said the market is constantly weighed down by inflation expectations remain high.

 

"There are indications that Beijing is still not happy with the rate of inflation and tightening measures to pursue further, and it continues to drag down markets," said Zhang Gang, an analyst at Central China Securities.

 

"Investors are increasingly worried that inflation could be higher in July than June," when the country's consumer price index rose to a three-year 6.4%, he added.

 

Heavy industrial companies among the biggest losers today as investors worried that slowing growth may negatively affect the demand for steel and cement.

 

Anhui Conch Cement fell 1.5% to CNY27.05, Wuhan Iron & Steel lost 1.0% to CNY4.03 and Angang Steel closed 0.9% lower at CNY6.60.

 

The prospect of further tightening of banks dragging. China Merchants Bank fell 0.9% to CNY12.63, Industrial Bank lost 0.6% to CNY13.77 and Shanghai Pudong Development Bank ended 1.1% lower at CNY9.73.

[mynameisandhy]

News and Review Economic Zone Asia (Korea)

 

Korean Won Gains, Non-Oil/Gas Imports Up.

Friday, July 22, 2011

 

Central Bureau of Statistics (BPS) reported that the recent developments of non-oil imports from South Korea to show improvement.

 

Performance of imports in May rose by 1.7 million U.S. dollars, up by 0.29% from the previous month.

 

It is shown the value of non-oil imports from that country which in May reached a value of 591.3 million U.S. Dollar.

 

Meanwhile in April non-oil imports from that country worth 589.6 million U.S. Dollars.

 

Analyst Research Vibiz of Vibiz Consulting suggests that move tracked Korean Won gained about + 0.63% against the rupiah at foreign exchange trading during the period of April.

 

As for today's trading on the Korean Won + rose 0.25% against the rupiah currency in forex trading today.

 

Meanwhile, according to Bank Indonesia rate announcement today selling Korean Won exchange rate in the range of Rp. 8:15 / USD and buying rate of about Rp. 8:06 / KRW.

[mynameisandhy]

News and Review Economic Zone Asia (Japan)

 

USD / JPY Return Threatening 78.00

Monday, July 25, 2011

 

Recovery efforts USD / JPY in early Asian trading session on Monday failed to surpass the resistance in the 78.50/55 area, and then slipped back into a low-level daily and visible testing the support at 78.00 amid a relatively quiet market conditions.

With market focus fixed on the U.S. debt ceiling discussion as the deadline approached, some analysts of the Talking-Forex.com assess if "bias drop is expected to dominate in this week because investors are still speculating on the new measures that have been announced at high European Union officials, while the discussion in Parliament about the U.S. debt ceiling still not see a way out. beyond that, the fact that the currency pair is more robust trading below the psychological level of 80.00 could potentially increase the speculation that the BOJ would intervene to weaken its currency. "

 

"For the technical level, support can be found at 78.00 and then at a record low of 76.30. On the contrary, resistance is seen at 78.74, 79.03 and 79.32 later," they added.

[mynameisandhy]

News and Review Economic Zone Asia (Japan)

 

Yosano: Yen Intervention Will Simply Difficult

Thursday, July 28, 2011

 

Japan's economy minister, Kaoru Yosano, said intervention sebesar1-2 trillion would be quite difficult, according to the Jiji news agency reported. Businessmen, Japan's central bank, and Japan's finance minister has uttered concerns over the continued strengthening of the yen: it can be a signal that there is policy intervention. However, Japan may have to do a solo intervention as the market saw little possibility of the G-7 intervention following the earthquake in March 11 last.

 

Most large Japanese companies still maintain profit estimate, but the continued strengthening of the yen can suramkan outlook. Japan solo intervention in September 2010, which spend the funds? 2 trillion, also appeared after the outbreak of concerns over the impact of yen appreciation exporter on the world of business. Yosana also express the Japanese government still focus on the deadline the U.S. debt limit increase on August 2.

 

Meanwhile, the yen bounce back in London after the session Yosano statement indicates Japan will probably not intervene before August 2.

[mynameisandhy]

News and Review Economic Zone Asia (Hong Kong)

 

The Hang Seng closed down, Mining Shares Back Depressed

Friday, July 29, 2011

 

Hong Kong Stock Exchange in trading today (29 / 7) closed lower. The pressure apparently has not ended, and throughout the week Hong Kong's re-exposed to negative trends. The weakening of the Hong Kong bourse adany triggered by pressure from mining stocks and banks due to weakening crude oil prices and not passing the debt limit policy.

 

Hang Seng Index closed down by 0.58% to 22440.25 basis points. While index futures weakened by 16 points to 22 333 basis points with the support level of 22,259 points and resistant level of 22,594 points.

 

Stocks that declined include shares of Sinopec Corp. is the weakened 1.03% to 7.69 USD, shares of CNOOC fell 0.34% to 17.42 EUR and the CCB shares fell 0.32% to 6.28 USD.

 

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of the Hong Kong bourse in early next week is expected to be still more likely weakened due to advance U.S. GDP data will be released tonight is predicted to decline 0.2%.

[mynameisandhy]

News and Review Economic Zone Asia (China)

 

Official data on the PMI fell to 50.7 in July

Monday, August 1, 2011

 

China Purchasing Managers Index PMI or also called degenerate into 50.7untuk July from the previous 50.9 in June as a manufacturing activity fell in the middle of tightening monetary conditions, according to a report on Monday. The figure, released by the China Federation of Logistics and Purchasing, was higher than 50.1, as estimated dalamsebuah survey by Reuters. A reading above 50 indicates an increase in activity manuacturing from the previous month, while a figure below shows a decline. A sub-index of input prices also dropped to 56.3 during the month from 56.7 in June.

[mynameisandhy]

News and European Economic Review (Japan)

 

Yen Weakens Pressured Japanese Society shrinking revenues.

Tuesday, August 2, 2011

 

In trading pair EUR / JPY today (02-08) Japanese Yen weakened against the euro and monitored in the range of 109.52.

 

Yen forex investors become less attractive as a indication of decreased economic performance in Japan.

 

Latest information on indicators Average Cash Earnings y / y which was just released by the Ministry of Health, Labour and Welfare showed a decrease in the revenue performance of Japanese society.

 

Indicators Average Cash Earnings y / y reported decreased to -0.8% previously forecast to fall to 0.4% of the value of last period is 1.0%. This negative response by investors in forex trading.

 

Analyst Research Vibiz of Vibiz Consulting suggests that the Japanese yen on the currency pair EUR / JPY is still expected to weaken thin, in a limited range of movement intraday.

[mynameisandhy]

News and Economic Review Asia (Japan)

 

Nikkei Weakens Again, Exporter Shares sales drop

Wednesday, August 3, 2011

 

Japanese stocks in trading today (3 / 8) recorded decreases. After yesterday had weakened, today's stock return was hit by a decline in stock prices triggered by the declining exporter of data consisting of U.S. consumer income and consumer spending data. With the decline in the data increased the pressure on Japanese exporters sectors that had previously affected by decline in U.S. manufacturing data.

 

Nikkei index fell by 2.1% to 9637.14 basis points. While index futures declined by 219 points to 9615 basis points with the support level of 9603 points and resistant level of 9691 points. The broader Topix index fell 2% to 826.75 basis points.

 

Stocks that declined include stock is Toyota Motor fell 1.3% to 3120 yen, Canon Inc shares fell 1.7% to 3690 yen and Kyocera Corp shares fell 2.3% to 8040 yen.

 

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of Japanese stocks are expected to weaken still more likely to remember the next day's meeting will be held anggotan Japanese central bank who will discuss opportunities in interest rates.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China Shares Rise; Leading Cement Company

Thursday, August 4, 2011

 

China 's shares ended higher Thursday as investors hit by the recent selloff, but gains limited by fears of a protracted upcoming macroeconomic data that would indicate the domestic economic slowdown and high inflation.

 

The benchmark Shanghai Composite Index, which tracks both A and B shares, ended up 0.2% at 2684.04. The Shenzhen Composite Index rose 0.2% to 1187.90. Analysts said the Shanghai market seek immediate resistance at 2700 points.

 

"Uncertainty in the U.S. and Europe have contributed to market weakness, but the assessment in China is now low and investors are less interested in selling," said Zhang Guojiang, an analyst at Sinolink Securities Wealth Management.

 

Cement producer, which has fallen sharply in recent weeks, posting strong gains. Last Selloff has exaggerated the risks faced by the cement company, United Huatai Securities said in a report Thursday. Predict a strong performance in this sector.

 

Anhui Conch Cement ended 2.6% higher at CNY26.19 and Huaxin Cement closed up 6.3% at CNY27.69.

 

Financial stocks continued to show mixed performance in July ahead of the release of economic data next week, including the closely watched consumer price index. Agricultural Bank of China lost 0.4% to CNY2.66 while Bank of China rose 0.3% to CNY3.03.

 

Conversely, aircraft manufacturers and suppliers rose after Shanghai Securities News reports that Beijing is preparing legislation to provide support for the production of the aircraft as a strategic industry.

 

Xi'an Aircraft International ended 2.9% higher at CNY11.51 and AVIC Aero-Engine Control surged 1.6% to CNY13.60.

 

"The government plans to develop aviation and aerospace industry companies will provide significant support related," said Zhang Yuande, an analyst with Founder Securities.

[mynameisandhy]

News and Economic Review Asia (Japan)

 

Shadowed Despite Tough Yen Intervention

Friday, August 5, 2011

 

The yen rose against the dollar as the increased action to buy safe-haven assets amid falling global stock markets. USD / JPY began to stay away from the weakest level in three weeks after Japan's intervention, but the anxiety Japan will intervene again limit further strengthening of the yen. "

 

"I think Japan is now facing international opposition if it decided to intervene again," said Todd Elmer, a strategic Citi. "However, if Japan wants its policy of intervention is successful then they need to do further action." Noda finance minister has uttered the Japanese continue to monitor the movement of foreign exchange. However, ECB's Trichet yesterday to show disapproval of the Japanese policy as he uttered, "a policy intervention must be multilateral."

 

USD / JPY 79.41 from 78.50 could achieve in a short time in the Asian session as the development of Japanese re-issue of intervention. However, continued strengthening of the yen after traders do not see the Bank of Japan's presence in the market. Analysts expect the USD / JPY will be difficult to survive in the top 80 again if the BoJ intervention for Japanese exporters will be interested to sell the dollar at that level.

[mynameisandhy]

News and Economic Review Asia (Japan)

 

Japanese Yen Intervention Ready to Return

Monday, August 8, 2011

 

Japanese Finance Ministry officials say the government is ready to sell the yen back if speculators continue to spur strong yen. "The intervention will further guarantee the effectiveness and stabilize excessive movement," said Deputy Finance Minister Fumihiko Igarashi told NHK television.

 

Japan has sold yen last week to secure the economic recovery following the earthquake and tsunami. However, Japan is now acting alone, in contrast with March of coordinated intervention between the G-7. "There's a good chance to add a position to buy the yen," wrote Goldman Sachs research report. "Unilateral intervention would not affect such a large or sustained coordinated intervention."

 

Japan's intervention policy would be ineffective and may exceed 70 yen to the dollar for the first time, said former Finance Ministry official Eisuke Sakakibara. "USD / JPY may trade around 73 at the end of the year because the government may have to sell the yen without U.S. support," said Sakakibara is also famous for calling Mr. Yen.

[mynameisandhy]

News and Economic Review Asia (Japan)

 

Japan Stock Slump, U.S. Stock Drop Effect series

Tuesday, August 9, 2011

 

Japanese stocks in trading today (9 / 8) again decreased. Negative trend has occurred since the early trading this morning where the stock hit by the impact of weakening U.S. stock market in late trading last week which had fallen sharply. Speculation about the decline in the performance of the U.S. economy apparently getting stronger due to the negative economic data.

 

The Nikkei fell 1.7% to 8944.48 basis points. While index futures has increased by 82 points to 8960 basis points with the support level of 8651 points and resistant level of 9139 points. The broader Topix index fell 1.6% to 770.39 basis points.

 

Stocks that declined include shares of Mitsubishi UFJ is weakened 2.4% to 363 yen and Sumitomo Mitsui Financial stocks which fell 2.2% to 2259 yen.

 

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of Japanese stocks are expected to weaken. Investors are expected to be still awaiting the results of the Fed meeting tonight.

[mynameisandhy]

News and Economic Review Asia (Japan)

 

Japan's Stock Rises, Fed Policy Plan Raised

Wednesday, August 10, 2011

 

Japanese stocks in trading today (10 / 8) recorded an increase. The condition occurs after a rebound in the last few days the stock has decreased. Rising stock movements triggered by several conditions of economic fundamentals such as the promise that the Fed will again provide regulation to lift the U.S. economy and the impact of rising crude oil prices which has now climbed to around 81 dollars per barrel position.

 

The Nikkei index rose by 1.1% to 9038.74 basis points. Index futures declined 41 points to 9005 basis points with the support level of 8950 points and resistant level of 9191 points. While the Topix index rose 1.1% to 9038.74 basis points.

 

Stocks that experienced an increase of which is the Kansai Electric Power shares rose 8.3% to 1304 yen, the stock 7.8% to 1356 yen and Inpex Corp. shares rose 2.81% to 511,000 yen.

 

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of Japanese stocks are expected to still likely to rise although not very significant, given the global economic fundamentals still unstable.

[mynameisandhy]

News and Economic Review Asia (Japan)

 

Yen Still Trying to Test Record

Thursday, August 11, 2011

 

Yen continues to examine the record of its strongest against the dollar as the outbreak of uncertainty will be the global economic outlook. Investors still kept a collection of Japanese yen, although it did have intimated the possibility of re-intervention policy.

 

Anxiety about the possibility of intervention and the continued trend of dollar weakness will likely keep the USD / JPY in a narrow range. "Anticipation of intervention limited the strength of the yen, but it is possible USD / JPY may test the record of 76.25 which of course will depend on the direction of the stock market," said Masafumi Yamamoto, strategic Barclays. "If the record successfully penetrated and there is no intervention then USD / JPY could fall to around 75."

 

USD / JPY was weaker after Japan's Finance Minister, Yoshihiko Noda, state will cooperate with the global community to maintain stability. But back to continue the strengthening of the yen in early London session. Some dealers see a comment This stain is more robust, and can be co-ordinated intervention intimated though analysts still doubt the possibility. "Small chance for a coordinated intervention by the latest developments. Japan will probably go back solo intervention if the yen rose sharply after permulus appreciation. However, Japan will probably not intervene if the yen rose gradually," said Makoto Noji, strategic Nikko Securities SMBC.

[mynameisandhy]

Asian Economic News and Review (Hong Kong)

 

Hong Kong's Gross Domestic Product Down 0.5% In Second Quarter

Friday, 12 August 2011

 

Hong Kong's economy fell for the first time since the global financial crisis after exports grew more slowly.

 

Gross domestic product fell 0.5% in the second quarter of the previous three months. Hong Kong's stock index fell more than 20% from November after a loss of confidence triggered victories worldwide in equities.

 

"Consumer sentiment is weak, and businesses in the U.S. and Europe will continue to drag the growth of Hong Kong, because the trade prospects look bleak," said Raymond Yeung, a Hong Kong-based economist at Australia & New Zealand Banking Group Ltd

 

High base for comparison in the previous quarter contributed to the decline, the government said in a statement. The government also maintains inflation forecast at 5.4%.

[mynameisandhy]

News and Economic Review Asia (Japan)

 

Give Japan Rating Agency Downgrade Warning

Monday, August 15, 2011

 

One of two major Japanese rating agency may cut Japan's credit rating in recent months, unless it is established commitment from the government to tighten fiscal budgets in the next fiscal year.

 

Japanese rating agencies, namely, Rating & Investment Information if downgrade the potential to cause panic among investors which is 95% domestic holders of government bonds. Meanwhile, other Japanese agencies, the Japan Credit Rating Agency still maintains a triple-A credit rating of Japanese bonds.

 

According to Japan's sovereign ratings analyst, Kenji Sekiguchi there is still a 50% probability that the R & I will reduce Japan's bond rating, and still maintain a negative outlook since March 2001.

 

So far R & I take a negative outlook on Japan's bond debt, because its debt ratio has reached more than double the annual economic output as well as the highest debt ratio compared to other industrialized nations. Looking ahead rating agency R & I will take a decision after getting the Japanese government's spending estimates in September.

[mynameisandhy]

News and Economic Review Asia (Korea)

 

After the Holidays KOSPI Risen

Tuesday, August 16, 2011

 

Seoul, the KOSPI stock index closed with a strong rebound on Tuesday, flew nearly 5% after the market closed yesterday regarding national holidays and listed the best daily percentage over the last two years.

KOSPI rebounded thanks mainly to foreign investors ending barrage of selling them because diceriakan by solid strengthening in the U.S. stock market.

 

Index also closed at a high level session and recorded the third best daily percentage gain related to hunting investors snapped up bargains after the market slumped as much as 16% in the last two weeks.

The KOSPI index closed up 4.83% ending up to a session high level of 1,879.87, the best daily percentage rise since 9 April, 2009. While the KOSPI index futures (KSc1) rose 4.86 percent or 241.60 -11.20 points to level. But overall the index is still down more than 13 percent from levels 1 August.

[mynameisandhy]

News and Economic Review Asia (Korea)

 

Kospi Ends Positive

Wednesday, August 17, 2011

 

Kospi closed up 0.7% to 242.00 due to bargain hunting action in various sectors after the stock market had weakened. Foreign investors have turned to sales, making the index away from the high levels amid worries over European debt problems, analysts said.

 

Foreign investors were selling in 23 of 26 sessions. Technology stocks fell on concern demand for consumer electronics devices, while Dell's revenues are declining burden chipmakers. Samsung Electronics closed +0.3% to KRW752, 000 and Hynix-s4.4% to KRW19, 600, while LG Electronics +4.3% to KRW62, 200. Chemical stocks mixed after Tuesday's (08/16), SK Innovation +1.8% to KRW167, 000, while LG Chem -1.7% to KRW380, 500. Kogas gain of 2.9% to KRW32, 300.

[mynameisandhy]

News and Economic Review Asia (Japan)

 

Portrait Opaque Nikkei And Prospects Year 2011

Thursday, August 18, 2011

 

Starting last August, the Nikkei fell sharply to levels range in March and even break the two key psychological level of 10,000 and 9000.

Nikkei stock collapse primarily due to a storm of negative sentiment that worries the U.S. debt downgrades by S & P, the continuous problem of European debt and inflation worries China.

 

While the strengthening yen, contributed to the fall of the Nikkei, which carried out market intervention and even the central bank of Japan (BOJ) is not able to lift the index although the yen had weakened sharply.

 

Instead of declining market, the statement led the Fed, Ben Bernanke in the discussion of past policies, has given a fresh wind that can lift the market. Market participants in Asia responded positively to the Fed's statement that promised to keep interest rates at record lows at least until mid-2013. The Fed also said probably will implement additional ways to revitalize economy Uncle Sam's country.

 

But analysts once again reminded that external factors such as the continuous concerns over the global economy could trigger a further sell-off in the long run, while investors will continue to react to the performance of other stock exchange floor in the world.

[mynameisandhy]

News and Economic Review Asia (Korea)

 

Kospi Loss, Down 6.22%

 

Friday, August 19, 2011

 

Korea Stock Exchange in trading today (19 / 8) closed sharply dropped. After yesterday had an increase, today's market can not withstand the swift pressure drop concerns over speculation China's economy and the U.S. expressed by Morgan Stanley last night.

 

Kospi Index closed down 6.22% to 1744.88 basis points. While index futures declined by 15.22 points to 222.6 basis points with the support level of 222.6 points and resistant level of 230.22 points.

 

Stocks that declined include shares of Doosan is weakened 7.89% to 122.500 won, Daelim Industry shares fell by 12.02% to 102.500 won and Yuyu Pharma shares fell 8.98% to 5980 won.

 

According to the analysis of the Division of Research in Vibiz Vibiz Consulting, movement in the Korean stock exchange early next week is expected to be still more likely to weaken. Rising jobless claims and the drop in U.S. manufacturing index is expected to be a stumbling block to the Korean stock exchange.