Wall Street continued its gains for a fifth day on Thursday on some upbeat economic data and corporate guidance. The Commerce Department's report showed a sign of consumer spending pickup as US trade volume and imports surged. A separate report said jobless claims fell to 550,000 in the past week.
Overnight Wall Street was up on economic data, positive earnings and the nomination of Federal Reserve chief Ben Bernanke to serve a second term. The Conference Board's August index of consumer confidence rose for a second month, exceeding economists' forecast.
US stocks broadly surged on Thursday fueled by the better-than-expected earnings reports. The market's rally pushed the major indexes to their highest closes of the year.
The Australian shares Wednesday closed slightly higher ahead of the US Federal Reserve's monetary outlook meeting. The benchmark S&P/ASX200 index gained 10.1 points, or 0.27 per cent, at 3807 points, while the broader-based All Ordinaries index rose 9.2 points, or 0.24 per cent, to 3802.2 points.
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.
SinoMedia Holding Limited (HKG:0623) a leading media advertising operator in China providing nationwide TV advertising coverage for clients on China Central Television ("CCTV") and other media advertising resources, today announced its audited annual results for the year ended 31 December 2008
Australian shares closed higher yesterday with rises in most sectors despite resources stocks dragged the market down. The benchmark S&P/ASX200 gained 0.6%, or 21 points, at 3756.6, while the All Ordinaries index was up 0.6%, or 22.4 points, at 3696.4. Banking stocks were stronger ahead of the Reserve Bank of Australia's interest rate decision.
