Market Gazer Hong Kong - Japan - Germany - UK - North America
market review : asia
Nikkei 225 Average ended marginally
lower at 9,509.50 or down 0.07% on
Thursday. A day after the Bank of Japan
intervened to weaken the yen by buying
dollars, USDJPY fell again to hit 85.22
while EURJPY fell to 110.64. Most
exporters remained solid, but domestic-
oriented shares fell.
In China, stocks fell after
China was rumored to
be planning for raising
capital adequacy ratio
for its banks. Shanghai
Stock Exchange ended at 2,602.47 or
50.03 points, nearly 2% despite during
late hours the China Banking Regulatory
Commission denied the rumor. Hong
Kong’s Hang Seng Index fell 34.19 points
or 0.16% to end at 21,691.45
China Mobile aims for search engine
business, leading to a direct competition
with Baidu Inc. One reason cited by the
chairman Wang Jianzhou was that the
growth in the wireless market has slowed
down recently. This year, the consensus
pointed at a rise of 7% in China Mobile’s
revenue to 484 billion yuan. At the end of
the day, the shares stood at HK$77.80, up
0.06%.
Cheung Kong Holdings
was raised to BUY from
HOLD by BNP Paribas. Its target also
raised to HK$115 from HK$99.80. The
conglomerate’s shares gained 0.19% to
HK$103.30.
16 September 2010
Cheung Kong Infrastructure Holdings was
said to be planning for a sale of US$-
denominated perpetual notes. The shares
was unchanged in the Thursday’s session
as it ended at HK$31.30.
Hang Lung Properties
was downgraded by
UBS, from BUY to NEUTRAL, sending the
developer’s shares to end down 0.53% to
HK$37.55.
China Shenhua Energy reported its coal
output in August was up 10.1% from a
year ago to 19.7 million tons. Meanwhile,
sales was up 20% to 25.1 million metric
tons from a year ago and exports fell 31%
to 900,000 tons. China Shenhua fell 0.33%
to HK$30.45.
China Telecom’s price target
was raised to HK$4.68 from
HK$4.11 by Daiwa. China
Telecom settled at HK$4.18 or
down 0.48%.
Alibaba and Yahoo’s negotiation
regarding stakes sale collapsed after
Alibaba rejected Yahoo’s counter
proposal. The proposal was deemed
‘unjustifiable’, according to Alibaba. This
failure is likely to hurt Yahoo’s shares later
in US session.
Disclaimer: This report is provided for information purposes
only. It is not an offer to sell or to buy any securities. This
report has been prepared based on sources believed to be
reliable, but there is no assurance or guarantee regarding its
completeness & and accuracy. The author accepts no
responsibility or liability arising from any use of the report.
E-mail: market.techspeak@gmail.com
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