Samsung Heavy Industries Co. (SEO:010140), the world's second-largest shipbuilder, has received a KRW1.32 trillion order to build a floating natural-gas facility for Royal Dutch Shell Plc (LON:RDSA), said South Korea's Yonhap news agency. Samsung Heavy and Technip SA, a French oil and gas producer, will design, construct and install multiple floating liquefied natural gas (LNG) facilities.
Geodynamics Limited (ASX:GDY), as operator of the Innamincka 'Deeps' Joint Venture, is pleased to announce an updated forward work program for the development of its geothermal resource in the Cooper Basin.
US stocks rose overnight as investors were encouraged by the stronger than expected retail sales figures, which also eased some concerns over the reporting season to kick off next week. Most Asian markets yesterday fell after the negative lead from Wall Street. Japan's Nikkei 225 dropped 1.1 per cent after weak machinery orders data. China's Shanghai Composite lost 0.94 per cent while Hong Kong's Hang Seng Index declined 0.3 per cent. But South Korea's Kospi was 0.4 per cent higher as strong foreign buying came in late trade.
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.
Wall Street overnight fell on the unexpected drop of the private sector employment data, which raised investors' concern over the key nonfarm payroll figures to be released on Friday. Asian markets were mostly lower Wednesday. Japan's Nikkei index closed slightly lower with a 0.1 per cent fall on the last day of the current fiscal year for most Japanese companies. China's Shanghai Composite and Hong Kong's Hang Seng Index both lost 0.6 per cent. Today China is due to release PMI figures for the manufacturing sector.
Wall Street Tuesday posted modest gains following the report on the upbeat consumer confidence and home prices data. Technology stocks were also supported by news that Apple Inc. (NASDAQ:AAPL) was developing a new iPhone. Yesterday Asian markets closed mostly higher. This week investors are also looking to the US nonfarm payroll data and expecting an improving labour market. Japanese stocks broadly gained led by steel makers. Nikkei rose 1 per cent. Hong Kong's Hang Seng Index was up 0.7 per cent while China's Shanghai Composite added 0.2 per cent. South Korea's Kospi increased 0.5 per cent.
US shares overnight declined, led by telecommunications sector. Sprint Nextel officially unveiled a new mobile phone able to tap into super-high speeds. Sprint Nextel rallied but all other telecom fell on competitive worries. Portugal's credit rating downgrade also weighed on the US market. Most Asian markets posted modest gains Wednesday. Japan's Nikkei index was up 0.4. China's Shanghai Composite and Hong Kong's Heng Seng Index advanced 0.1 per cent each, helped by strong corporate earnings reports. South Korea's Kospi slightly declined by 0.05 per cent.
