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Mar 21, 2010, 07:43 PM (GMT+8) |
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Evening Wrap
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Morning Call |
Afternoon Update |
Evening Wrap
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| Last Updated: 19-Mar-2010
6:00 pm
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| GlobalScan |
- Orient Overseas Falls After Posting First Loss in 11 Years, Axing Dividend
- Lloyds Banking Group Expects to Make a Profit in 2010 on `Strong' Trading
- Lafarge Bonds Show Investors Dismiss Threat of a Rating Downgrade to Junk
- Allianz CEO Diekmann's 2009 Pay Rises 27% to $6.6 Million as Profit Climbs
- RBS Cuts Loans to Clean Energy Companies in Snub to Brown's Green Goals
- Lehman Seeks $11 Billion From Barclays, Including $5 Billion `Windfall'
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| LocalScan |
- Malaysia Feb CPI up less than expected 1.2 pct on year
- Malaysian builder Sunway eyes record profits in 2010
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| FeaturedHeadline |
Asian Stocks Rise Toward a Fourth Weekly Advance on U.S. Jobs
Asian stocks rose, driving the MSCI Asia Pacific Index toward a fourth weekly advance, after U.S. jobs and manufacturing reports boosted confidence in a global economic recovery. Sony Corp., which makes Bravia televisions and the PlayStation 3 video-game system, climbed 2.6 percent in Tokyo. Honda Motor Co., a Japanese carmaker that gets 44 percent of its sales in North America, rose 1.9 percent. Advantech Co., an industrial-computer maker that gets a third of its sales in North America, jumped 4.6 percent in Taipei. Kia Motors Corp., South Korea's second-largest automaker, gained 4.2 percent in Seoul after saying it will boost production capacity in Europe. The MSCI Asia Pacific Index rose 0.6 percent to 125.07 as of 5:37 p.m. in Tokyo, with twice as many stocks advancing as declining. Equities have rallied in the past six weeks as concerns over monetary tightening receded, and as companies from Woolworths Ltd. to Nissan Motor Co. reported better-than- expected earnings. Japan's Nikkei 225 Stock Average advanced 0.8 percent. China's Shanghai Composite Index climbed 0.7 percent. The Hang Seng Index in Hong Kong and Australia's S&P/ASX 200 Index advanced 0.2 percent.
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European, Asian Stocks Advance; Lloyds Banking Leads Gains
European stocks rose as Lloyds Banking Group Plc said it may be profitable this year, boosting confidence that the economic recovery will be sustained. Asian stocks climbed while U.S. futures were little changed. Lloyds, Britain's biggest mortgage provider, rose the most since August after saying it may post a profit as impairments decline. Yara International ASA, the world's largest supplier of mineral fertilizers, advanced 1.1 percent after UBS AG and Deutsche Bank AG recommended buying the shares. Technip SA, Europe's second-largest oil-services provider, gained 1.3 percent after Barclays Capital lifted its recommendation on the stock. The Stoxx Europe 600 Index climbed 0.3 percent to 262.01 at 9:32 a.m. in London. The benchmark gauge is heading for a 1.4 percent weekly gain after Standard & Poor's said it is no longer reviewing Greece's credit rating for a downgrade and as the Federal Reserve pledged to maintain record-low borrowing costs for an extended period. The measure retreated for the first two months of 2010 amid concern that Greece will struggle to rein in Europe's biggest budget deficit. The acting Dutch Finance Minister Jan Kees de Jager said yesterday that the International Monetary Fund "will probably do part" of Greece's financing needs. Greece's ASE Index slipped 0.2 percent today.
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