Asian Activities Report for December 20, 2011: Sharp (TYO:6753) to Sell 90-Inch LCD TVs in USA in 2012
Asian Activities Report for December 20, 2011 includes: Sharp Corporation (TYO:6753) is planning to sell 90-inch LCD TVs - its largest LCD TV product in the US market in 2012; Sinopec Kantons Holdings Limited (HKG:0934) and China Shipping Development (HKG:1138) have signed an agreement to form a joint venture company in Hong Kong to build around five liquefied natural gas vessels; Mikuni Corporation (TYO:7247) says that its car parts manufacturing plant in Thailand has recovered part of its production ability, with operation recommenced on December 12th.
Enel Green Power & Sharp Solar Energy, a 50/50 joint venture established in July 2010 between Sharp Corporation (TYO:6753) (PINK:SHCAY) and Enel Green Power (BIT:EGPW), has built a 5 MW photovoltaic plant in Calabria, Southern Italy.
Most Asian markets delivered modest gains on Thursday as positive US economic data restored confidence in a global economic recovery.
Asian markets received a strong lead from Wall Street and mostly opened higher this morning. But gains were trimmed in Tokyo share market after a stronger yen weighed on Japanese exporters. Meanwhile, concerns over companies' massive capital raising plans continue to dent the local sentiment.
Casio Computer Co. (TYO:6952), NEC Corp. (TYO:6701) and Hitachi Ltd. (TYO:6501) are in talks to consolidate their mobile phone operations as early as April 2010, industry sources said Friday.
Asian markets Friday opened broadly higher as Wall Street rallied for a second consecutive day after some good corporate earnings. Yesterday the major indices posted strong gains. Hong Kong's Hang Seng Index rose 3.6% while Shanghai Composite jumped 3.1%. Japan's Nikkei 225 Average rose 1.8% and South Korea's Kospi added 1.2%.
Asian shares are set to gain on Monday after a rally on Wall Street last Friday. Japan's Nikkei average is also expected to be buoyed by exporters on a weaker yen. Asian shares rallied across the region Friday with shipping stocks leading for another day and miners rising on hopes that demand for commodities might be picking up. The Shanghai Composite Index rallied 4%, delivering its best performance of the week while China-related shares also lifted the market in Hong Kong.
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