Japanese stocks rose, with the Nikkei 225 (NKY) Stock Average rising the most in two weeks, after a North Korean rocket launch failed and Fast Retailing Co. forecast record profit. Shares pared gains as slower growth in China tempered optimism from a surge in new lending.
Fanuc Corp., which provides robotics for mainland factories, pared gains to 2.8 percent after the China gross domestic product report. Canon Inc., a camera maker that gets 27 percent of its sales in the Americas, advanced 1.3 percent after the U.S. Federal Reserve signaled interest rates will remain low. Fast Retailing Co. (9983), Asia’s biggest clothier, jumped 8.6 percent.
“It’s better to have it fail than succeed,” said Masahiko Ejiri, a senior fund manager in Tokyo at Mizuho Asset Management Co., which oversees $39 billion, speaking of North Korea’s unsuccessful rocket launch. “Even if they do build a nuclear weapon, it doesn’t matter if they can’t make it fly.”
TADAWUL: Insurance, Energy sectors surge over 2%
Saudi Arabia’s benchmark the Tadawul All-Share Index (TASI) closed at 11,112.12 and ended its Sunday’s trading up over seventy points or 0.63 percent. Its year-to-date return exceeded thirty percent.
GFH long-term rating increased
CAPITAL Intelligence (CI), the international credit rating agency, has raised the Gulf Finance House (GFH) long-term rating to ‘BB’ from ‘BB-’ and affirmed the short-term rating at ‘B’. The Outlook f
Masdar Institute, Tadweer sign research deal
Masdar Institute of Science and Technology and Tadweer, the Center of Waste Management – Abu Dhabi, have signed a two-year research agreement focused on improving the process for the production of bi