View in Other Languages 
Sydney, Mar 18, 2009 (ABN Newswire) - Asian markets opened broadly firmer today after the Wall Street rally boosted by the unexpectedly good housing data in the US. Japan's Nikkei share average rose above the psychologically key 8,000 level in early trade.
Asia Economy Watch
South Korean financial watchdog Financial Supervisory Service said the banks' loan default rate rose to the highest level in more than three years in February. The figure was the highest since October 2005, when it also hit 1.67 per cent, the FSS said.
Singapore government said the nation's exports contracted at a slower pace in February compared with January. Singapore's nonoil domestic exports fell 23.7% in February from a year earlier, marking a 10th consecutive month of declines.
Company News
Norwegian telecom operator Telenor (OSL:TEL) and India's Unitech (BOM:507878) said that they have closed the deal where the Telenor will acquire a controlling stake in Unitech Wireless via fresh equity infusion.
Hong Kong listed hotel group Shangri-La Asia (HKG:0069) expects room rates to be lower after the company reported a worse than expected 51.32 per cent drop in net profit last year. But the company remained a solid long-term growth prospect and planned to spend about US$600 million this year on new development projects.
Hongkong Electric Holdings (HKG:0006) delivered a net profit of HK$8 billion last year, partly due to its newly acquired projects overseas. The company also expects earnings outside Hong Kong will be boosted further this year as a result of the purchase of a 45 per cent stake in power plants in Guangdong and Jilin provinces from Cheung Kong Infrastructure Holdings (HKG:1038) last month.
South Korea's Hana Bank, the flagship of Hana Financial Group (SEO:086790), is seeking bolstering its presence in its key strategic markets abroad, particularly in China. Hana Bank said its Chinese corporate entity saw its total assets soar by 50 percent at the end of last year from a year ago.
China's Hua Xia Bank (SHA:600015) said today that it planned to establish a fund management joint venture with British-based F&C Asset Management Plc (LON:FCAM). Hua Xia will own 70.5 percent of the Beijing based venture, while 19.5 percent will be owned by F&C. The other shareholder to take the 10 percent stake is expected to be a state-owned Chinese company.
South Korea's Hyundai Steel Co. (SEO:004020) said Wednesday it will supply 100,000 metric tons of hot-rolled coil to India's Welspun Gujarat Rohren Ltd. (BOM:532144) in a one-year contract.
It is speculated that Coca-Cola (NYSE:KO) might abandon its proposed takeover of China Huiyuan Juice (HKG:1886) after Chinese antitrust regulators indicated it would have to relinquish the brand.
Asia Economy Watch
South Korean financial watchdog Financial Supervisory Service said the banks' loan default rate rose to the highest level in more than three years in February. The figure was the highest since October 2005, when it also hit 1.67 per cent, the FSS said.
Singapore government said the nation's exports contracted at a slower pace in February compared with January. Singapore's nonoil domestic exports fell 23.7% in February from a year earlier, marking a 10th consecutive month of declines.
Company News
Norwegian telecom operator Telenor (OSL:TEL) and India's Unitech (BOM:507878) said that they have closed the deal where the Telenor will acquire a controlling stake in Unitech Wireless via fresh equity infusion.
Hong Kong listed hotel group Shangri-La Asia (HKG:0069) expects room rates to be lower after the company reported a worse than expected 51.32 per cent drop in net profit last year. But the company remained a solid long-term growth prospect and planned to spend about US$600 million this year on new development projects.
Hongkong Electric Holdings (HKG:0006) delivered a net profit of HK$8 billion last year, partly due to its newly acquired projects overseas. The company also expects earnings outside Hong Kong will be boosted further this year as a result of the purchase of a 45 per cent stake in power plants in Guangdong and Jilin provinces from Cheung Kong Infrastructure Holdings (HKG:1038) last month.
South Korea's Hana Bank, the flagship of Hana Financial Group (SEO:086790), is seeking bolstering its presence in its key strategic markets abroad, particularly in China. Hana Bank said its Chinese corporate entity saw its total assets soar by 50 percent at the end of last year from a year ago.
China's Hua Xia Bank (SHA:600015) said today that it planned to establish a fund management joint venture with British-based F&C Asset Management Plc (LON:FCAM). Hua Xia will own 70.5 percent of the Beijing based venture, while 19.5 percent will be owned by F&C. The other shareholder to take the 10 percent stake is expected to be a state-owned Chinese company.
South Korea's Hyundai Steel Co. (SEO:004020) said Wednesday it will supply 100,000 metric tons of hot-rolled coil to India's Welspun Gujarat Rohren Ltd. (BOM:532144) in a one-year contract.
It is speculated that Coca-Cola (NYSE:KO) might abandon its proposed takeover of China Huiyuan Juice (HKG:1886) after Chinese antitrust regulators indicated it would have to relinquish the brand.
| Tweet |
|
||
|
 |
Related Companies |
| |
Related Industry Topics: |
Wireless | Telecom Carriers | Food & Beverage | Commercial Banking | Metals | Energy General | Financial General | Retail & Merchant Banking | Travel | |
| |
This Page Viewed: (Last 7 Days: 110) (Last 30 Days: 600) (Since Published: 72210) |
(378170)
Events & Exhibitions
|
Site Search
| ENGLISH All Languages |
Upcoming WebCasts
 | Mr Mark Paton CEO Cue Energy Resources Tuesday, June 12, 2012 |
 | Mr Alan Hopkins CEO Pan Asia Corporation Tuesday, June 12, 2012 |
 | Mr Barry Dawes Martin Place Securities Tuesday, June 12, 2012 |
 | Dr Andrea Grant CEO Living Cell Technologies Monday, July 02, 2012 |
|
China Huiyuan Juice Group Ltd | |||
|
||||
Companies in the News
Mobile Video TV
|
||
|
||
){kind=link}