China Unicom (Hong Kong) Limited
Sothebys (NYSE:BID) announced today that Linus Wing Lam Cheung has been unanimously elected to join the Company's Board of Directors. Mr. Cheung is the retired Chief Executive Officer of Hong Kong Telecom and a renowned collector of Chinese Art.
Monday Wall Street rose as higher commodities prices boosted energy and mining companies. The US markets also received support from positive consumer spending in February. Asian markets closed mixed yesterday. Chinese stocks rallied as China said it plans to launch the long expected stock-index future in April 16. Shanghai Composite jumped 2.1 per cent to a two month high, while Hong Kong's Hang Seng Index climbed 0.9 per cent. South Korea's Kospi Composite was 0.3 per cent lower. Japan's Nikkei 225 lost 0.1 per cent.
Asian markets rallied Wednesday led by resources shares. Japan's Nikkei surged 2.7 per cent while Japanese exporters were helped by the weaker yen. Hong Kong market rose 1.3 per cent led by Chinese banks, as investors digested the Chinese government's decision before the Lunar New Year holiday to increase bank reserve requirement. Singapore also resumed trading on Wednesday and posted a 1.3 per cent gain. Today Shanghai and Taiwan markets remained closed.
Asian shares are expected to remain rising after a rebound in most markets yesterday. On Tuesday China's Shanghai Composite rose 0.5%, Taiwan's Taiex surged 2% and South Korea's Kospi added 1.1%. Hong Kong's Hang Seng Index gained 1.2% spurred by Swiss banking major UBS's return to profit.
The launch of 3G service in China has provided good opportunities for global telecom giants, such as Nippon Telegraph and Telephone Corp. (TYO:9432). The Japanese group will tap the China market by cooperating with China Mobile (HKG:0941), the largest cell phone carrier in China, to send Japanese manga in the country.
China Unicom Limited (SHA:600050)(HKG:0762)(NYSE:CHU)(PINK:CUNCF) is a leading telecommunication operator base in China with 19,500 self owned sales outlets and 87,400 cooperative independent sales outlets nationwide. The company, currently ranked as the 3rd largest mobile provider in the world, provides services in the following areas including 3G, GSM, Broadband & Data and Traditional Fixed Line Services.
Inspur International (HKG:0596) is a leading IT and Outsource Software development company with a large international client base across the world, including Microsoft, Toshiba and Hitachi. Apart from servicing the MNEs market, the company is also engaged in a lot of government projects in China. Inspur has been named one of Fortune Magazine's top 100 software companies in the world for 3 consecutive years. In FY 2008, the company has experienced outstanding growth in its revenue and EPS, rising by 99.7% and 590.5% respectively.
Most Asian markets started the trading session with volatility on Monday after US stocks retreated on Friday. Tokyo and Seoul shares opened flat, and soon proceeded to a negative territory. Today Investors are also awaiting US government to unveil its plan to help the auto industry.
All major indices in Asia opened significantly higher as the US government's plan on bad debts fires up investors' sentiment. Some markets rose 3% or more on Monday and extended their strong rising streak today with financial stocks react the most.
Asian stocks markets broadly opened higher on Monday on hope of the US government's plan to remove toxic assets from the troubled financial firms. Most major indices in Asia posted strong openings and surged more than 1% in early trading.