Hang Seng down 0.52pc at open
(The Standard
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31/05/2010)
Hong Kong shares opened 0.52 percent lower, with the benchmark Hang Seng Index down 102.83 points at 19,663.88 in the first minutes of trading.
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KL shares firmer at mid-morning
(Business Times
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31/05/2010)
Share prices on Bursa Malaysia were mostly firmer in midmorning trade on continued buying of selected heavyweights, dealers said. However, losses in some blue chips capped gains. At 11.10am, the benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index
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Markets have a quiet opening
(Business Standard
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31/05/2010)
It has been a rather sober morning of trade. The domestic markets opened flat, as was the case with their Asian counterparts, and have thereafter stuck to a narrow trading range. The Sensex is quoting at 16919, higher by 56 points and the Nifty is at
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Financial Tech Q4 profit shrinks 44% to Rs 44 cr
(Business Standard
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31/05/2010)
Financial Technologies India (FTIL) today reported a 44 per cent decline in net profit to Rs 43.84 crore for the fourth quarter ended March 31, 2010. The company had reported a net profit of Rs 78.49 crore in the corresponding period a year ago. Total
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Max India Q4 net loss at Rs 2.3 cr
(The Economic Times
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31/05/2010)
Max India on Sunday reported a net loss of Rs 2.3 crore for the quarter ended March 31, 2010. The company had a net loss of Rs 6.7 crore in the same quarter ended March 2009, Max India said in a filing to the Bombay Stock Exchange. Total income rose to
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China's Stocks Decline
(Bloomberg
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31/05/2010)
China’s stocks fell, adding to a monthly loss for the benchmark index, as declines by commodity producers on concern Europe’s debt crisis is worsening overshadowed gains by drugmakers and consumer-staples producers. Baoshan Iron & Steel Co. and Jiangxi
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Euro stabilizes above lows after Spain downgrade
(Guardian.co.uk
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31/05/2010)
The euro edged up against the dollar on Monday after falling following a downgrade in Spain's credit rating by Fitch Ratings which revived concern about Europe's debt woes and their impact on the global economy. But investors avoided building positions
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Liquidity pressure may push up short-term lending rates
(Business Standard
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31/05/2010)
Companies seeking short-term loans may have to factor in a 25-50 basis point rise in the cost of funds in the coming month, as lending for 3G auctions and advance tax payment is set to squeeze excess liquidity. And, rising delinquencies in the corporate
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Cos raise Rs 1 lakh cr through primary mkts in 2009-10: SEBI
(The Economic Times
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31/05/2010)
Companies mopped up Rs 1 lakh crore through primary markets during 2009-10, six times more than Rs 16,408 crore raised in the previous fiscal when the economy came under the impact of global financial meltdown. There were 138 issues in all during 2009-10
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Affin advances on EON bid report
(Bloomberg
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31/05/2010)
Affin Holdings Bhd, a Malaysian lender, rose the most in seven weeks in Kuala Lumpur trading after the Star newspaper reported it has sought central bank approval to bid for EON Capital Bhd. Its shares rose 1.7 per cent to RM2.93 at 9:10 a.m. local time,
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Macroeconomic indicators - China Q2 CPI projected to rise slightly
(Steelguru
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31/05/2010)
According to the National Bureau of Statistics, China consumer price index in April rose by 0.2% over the previous month and by 2.8% over one year ago. The CPI rise was due to climbing prices of food and housing. In April, food prices grew by 5.9% which
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Indian exports off to encouraging start in fiscal 2010-11
(Steelguru
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31/05/2010)
Despite the global economic situation mercantile exports registered a robust 36.2 % growth in April to yield USD 16.9 billion when compared to April 2009. The government however reminded that the growth appeared large due to last year’s poor showing. In
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S. Korea Industrial Production Continues To Grow
(RTT News
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31/05/2010)
South Korean industrial production recorded growth for the tenth consecutive month in April, a report released by the Statistics Korea showed Monday. Industrial production rose 19.9% annually in April, slightly bigger than the consensus forecast of
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Japanese Auto Production Surges In April
(RTT News
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31/05/2010)
Japan's automobile production surged 50.8% in April from the prior year to 731,794 units, the Japan Automobile Manufacturers Association said in a report on Monday. In March, production was up 71.2%. Motorcycle production, at the same time, increased
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Sensex marginally up
(The Hindu Business Line
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31/05/2010)
The Bombay Stock Exchange benchmark Sensex on Monday rose marginally in opening trade on buying by funds and retail investors. At 10.45 am, the Sensex gathered 36.47 points at 16,899.53 points. Auto, metals and oil and gas sector stocks led the gains.
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Rupee weakens by 14 paise against dollar
(The Hindu Business Line
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31/05/2010)
The rupee depreciated by 14 paise to 46.49 a dollar in early trade at the forex market today on month—end demand for the US currency from importers. However, higher opening on the stock markets and firm Asian currencies against the dollar, capped rupee’s
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Japan Labor Cash Earnings Rise In April
(RTT News
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31/05/2010)
Total cash earnings of employees in Japanese establishments with five or more employees climbed 1.5% year-on-year to JPY 275,985 in April, the Ministry of Health, Labor and Welfare reported on Monday. Contractual cash earnings rose 0.4% annually in
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HK, China stocks slip, property shares lead falls
(Guardian.co.uk
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31/05/2010)
Shares in Hong Kong and China were slightly lower by midday on Monday, pressured by property counters on persistent concern about moves by both governments to clamp down on speculation in their booming real estate markets. The benchmark Hang Seng Index
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BOJ Shirakawa: Expanding balance sheet won't work
(Reuters
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31/05/2010)
Bank of Japan Governor Masaaki Shirakawa said on Monday that expanding the central bank's balance sheet or setting a rigid inflation target will not be effective in beating deflation. Shirakawa also said governments needed to make sure that market trust
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City Union Bank to raise Rs 1,000 cr through QIP route
(Business Standard
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31/05/2010)
City Union Bank (CUB) is planning to raise around Rs 1,000 crore over the next three years through qualified institutional placement (QIPs). The bank had already got approval from its board to raise Rs 300 crore and is planning to seek approval for
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China hikes elimination targets for some industries
(Steelguru
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31/05/2010)
Xinhuanet reported that the Ministry of Industry & Information Technology issued this year backward capacity elimination tasks for 18 industries to the local governments recently in which targets for the 6 keynote sectors incl iron smelting, steelmaking,
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Bond yields fall on US cues; data awaited
(The Economic Times
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31/05/2010)
Bond yields dropped on Monday morning in line with their U.S. counterparts but the March quarter growth data due around 11 a.m. will be closely watched for further direction. U.S. government bonds rallied on Friday and were on track for their strongest
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Markets choppy, realty, metals back in red
(The Economic Times
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31/05/2010)
After a positive opening, Indian equity indices moved in and out of the red Monday tracking the mixed trend in the Asian markets. On Friday, Wall Street and European markets had closed sharply lower after Fitch downgraded Spain. At 9:45 am, Sensex was at
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European Economics Preview: Eurozone Inflation Data Due
(RTT News
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31/05/2010)
Inflation, money supply and consumer sentiment data from the Eurozone are due on Monday, headlining a busy day for European economic news. At 3:00 am ET, the Turkish Statistical Institute is scheduled to release trade data for April. Economists expect
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Islamic Finance Must Boost Money Markets to Grow, AAOIFI Says
(Bloomberg
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31/05/2010)
The Islamic finance industry must widen the pool of money-market securities available to help companies and investors manage risk more effectively, according to an official at a Bahrain-based standard-setting agency. Shariah-compliant financial
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