Dow Jones Industrial Average was marginally higher overnight, supported by financial stocks. But material stocks were under pressure as commodities prices declined. Asian markets Wednesday closed mixed. Singapore market finished 0.8 per cent higher to their a seven-week high after a report showed that Singapore's economy was expected to grow 6.5 per cent in 2010. Japan's Nikkei 225 and Hong Kong's Hang Seng Index finished flat after moving between gains and losses during the session. South Korea's Kospi ended 0.1% higher. But China's Shanghai Composite snapped a three-day rise and fell 0.7 per cent ahead of the inflation data.
Asian share markets continue a winning streak on Thursday following the good leads from Wall Street. Japan's Nikkei stock index rose in early trade as exporters were lifted by confidence in global recovery. Korean central bank decided to keep rates unchanged at a record-low 2 per cent.
Most Asian major markets rebounded on Wednesday morning as investors' sentiment was boosted by gains on Wall Street overnight. Asian stocks fell massively Tuesday with most declines in financial sector.
Asia's major markets including Tokyo, Shanghai and Hong Kong closed higher on Wednesday after the US stocks rose on the positive economy data and progress on government's stimulus plan. Tokyo stocks opened lower Thursday as investor sentiment was dampened by bleak U.S. corporate earnings.
China's appetite for participation in Australia's resources exploration sector continues with an announcement today that the giant CITIC group is taking a 7.5% interest in Adelaide-based gold and uranium explorer, Southern Gold Limited (ASX: SAU).
Air China may emerge as the only profitable airline among the three mega Chinese carriers in fiscal 2006 helped by the recent binding with Cathay Pacific, said Tai Fook Research.
CITIC PACIFIC (HK: 00267) Announces Profit Attributable to Shareholders. The net profit attributable to shareholders for the year ended 2005 was HK$3,989 million, an increase of 13% compared with HK$3,534 million for the same period in 2004 (as restated). The reasons for the increase in profit are described below.