Asian stocks rose, with the regional benchmark index recording its biggest weekly gain in almost five months, on optimism that central banks from China to the U.S. will take new steps to fuel growth tempered concerns Europe’s debt crisis will worsen.
Li & Fung Ltd. (494), a supplier of toys and clothes to Wal-Mart Stores Inc., jumped 5.9 percent this week in Hong Kong. Komatsu Ltd., a Japanese construction machinery maker that gets 14 percent of its revenue from China, gained 2.3 percent in Tokyo. DeNA Co., Japan’s biggest social-gaming operator, surged 23 percent on a plan to buy back as much as 10 percent of its stock.
The MSCI Asia Pacific Index rose 2.4 percent to 114.16 this week, the most in almost five months, before elections this weekend that may determine Greece’s future in the euro. The gauge has dropped more than 11 percent from its peak this year on Feb. 29 amid concern growth is slowing in China and the U.S. and as European policy makers failed to stem concern about the debt crisis.
ADX Index Sustains Upward March
The ADX General Index earlier slipped into the red territory but then jumped up into the green territory and closed the day at 3,664.99 levels on Wednesday 19th June 2013, up 5.45 points or 0.15 perc
Rakbank bags gold for AMAL TVC
Rakbank was announced the winner of the Gold Summit Creative Award (SCA) for its AMAL Launch Television campaign during the recent 2013 Summit International Award (SIA) held in the United States.
KFH capital increase subscribed amounts
Kuwait Finance House KFH Chairman Muhammad Ali Al-Khudairy said: The subscription process in the capital increase of 20% approved by the Extraordinary General Assembly on April 24th 2013 by a value