Osaka Gas Co., Ltd
The Australian stock market opened higher this morning after Wall Street returned to gains on better-than-expected corporate earnings and encouraging economic data.
Overnight US stocks broadly declined after new figures from the Federal Reserve showed that consumer credit dropped unexpectedly in February. The sharp plunge in consumer credit was an indication that households are still in a cautious frame of mind despite U.S. economic recovery. Asian markets opened lower this morning following the drops in Wall Street. But Wednesday most Asian stocks gained, helped by stronger oil prices and upbeat corporate earnings. Hong Kong's Hang Seng surged 1.8 per cent, while China's Shanghai Composite fell 0.3 per cent as real estate shares were hurt by fears of further measures to cool the property market. Japan's Nikkei 225 posted a 0.1 per cent rise and South Korea's Kospi Composite finished nearly unchanged.
The Australian shares edged higher on the first trading day of 2010. Energy stocks surged amid expectations the oil price will continue to rise this year. At the close, the benchmark S&P/ASX200 index advanced 5.7 points, or 0.1 per cent, at 4876.3 points, while the broader All Ordinaries index gained 7.1 points, or 0.1 per cent, to 4889.8.
The Australian share market posted a strong gain boosted by banks and miners on Tuesday after good lead from European markets and Wall Street. At the close, the benchmark S&P/ASX200 index was up 69.1 points, or 1.49 per cent, at 4704.2 points, while the broader All Ordinaries index surged 64.9 points, or 1.39 per cent, to 4724.4.
Asian share markets broadly opened in positive territory. Japan's Nikkei was buoyed by the latest data showing that Japan's economy grew 1.2 per cent in July-September from the previous quarter, exceeding market expectations.
AGL Energy (ASX:AGK) said it has sold the 132.3 MW Hallett 4 wind farm to a Japanese-led consortium, make up of Marubeni Corporation (TYO:8002), Osaka Gas (TYO:9532) and APA Group (ASX:APA), and expects to realise a development fee of A$88 million from the transaction.
Chevron Australia Ltd has signed gas deals worth A$70 billion to sell liquefied natural gas (LNG) to Japan and South Korea, the world's two largest LNG import markets.
The Australian stock market closed more than two per cent lower on Friday following weakness in United States markets caused by doubts over a rescue package for US car makers. The benchmark S&P/ASX200 index had fallen 87.6 points, or 2.43 per cent, to 3,510.4, while the broader All Ordinaries index lost 81.7 points, or 2.31 per cent, to 3,452.5. As the US Senate's rejected the $14-billion bailout for American automotive makers, the stock market is expected to continue moving downward on the negative news.
Yesterday, the Australian share market closed at a fresh three-year low, plummeting 5% as the continuing fallout from the global credit crisis wiped A$56 billion from the value of stocks. The benchmark S&P/ASX-200 share index lost 5% yesterday, the biggest one-day fall for both major stock exchange indices since January 22 this year. RBA has said the Australian economy is slowing faster than originally anticipated. Analysts said the sell-off is totally unemotional. Markets across Asia also slumped with 5-10% drop in Tokyo, Hong Kong, Singapore, Mumbai and Jakarta.