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Market Update

Nikkei Extends Gains on U.S. Housing Data

Hiruki Nakamura
26 May, 2014
New York City

Investors in Japan reacted positively to the U.S. new home sales data released on Friday. The yen traded at a 2-year high and the Topix added 1.2% gained after rising 1.8% in the previous week. Sony enters in two joint ventures in China after the nation 13-year ban on game console sale.

Thin Trading in Australian Stocks, SAI Receives $1.1 Billion Offer

Marcus Jacob
26 May, 2014
New York City

Australian market indexes closed higher in thin trading and the dollar traded at elevated level against the U.S. dollar. SAI Global terminated its contract with chief executive and the company received a takeover offer of $1.1 billion.

U.S. Jobless Claims and Home Sales Rise, World Markets Advance

Nichole Harper
22 May, 2014
New York City

Stocks on Wall Street extended gains and weekly jobless claims rose and existing home sales increase for the first time this year. World markets traded higher and a private survey in China showed a slight improvement in manufacturing. India is set to appoint new prime minister on Monday.

Nikkei Surges 2% on Fed Statement and China Data

Hiruki Nakamura
22 May, 2014
New York City

Market indexes in Tokyo shot up and investors looked at international developments. Nikkei soared 2.1% after the U.S. Fed held its low interest rate policy intact and a private survey in China indicated a slight improvement in manufacturing. Modi is set takeover as Prime Minister in India on Monday.

Australian Indexes Soar 1%, James Hardie Surges 6%

Marcus Jacob
22 May, 2014
New York City

Australian market indexes closed higher after the latest private manufacturing survey showed a slight uptick in activities. Investors also bid up stocks after Fed estimated low interest rates to continue in the near future. James Hardie soared 6% after annual net income doubled.

Russia and China in 30-Year Gas Deal on New Geopolitical Realities

Bikram Pandey
21 May, 2014
New York City

Russia and China agreed on a natural gas after a decade long discussions culminated under a new geopolitical realities. The $400 billion deal over 30 years is expected to diversify Russian energy customer base and offer added energy securitiy to China.

Fed Statement Powers Stock Advance on Wall Street

Nichole Harper
21 May, 2014
New York City

U.S. market indexes traded higher after Fed policy makers debated options and impacts of higher interest rates regime. The policy makers at the central bank see no inflation risk in the near term despite the pickup in economic activities.

Japan's Trade Deficit in April Narrows, BoJ Leaves Policy Intact

Hiruki Nakamura
21 May, 2014
New York City

Bank of Japan left its ultra-accommodative monetary policy intact and offered a positive assessment of the economy after a two-day meeting. Japan

Australian Indexes Struggle on Weak Iron Ore Prices

Marcus Jacob
21 May, 2014
New York City

Australian market indexes struggled and declined at close on the persistent weakness in iron ore prices. The wage price index in the March quarter increased 0.7%, the slowest pace in 16 years. Woodside Petroleum Limited walked away from its joint venture in Israel.

India Movers: Essar Oil, Mangalore Refinery, NIIT, VIP, ZF Steering

Mukesh Buch
21 May, 2014
New York City

Essar Oil soared after net climbed four-fold. MRPL surged after net swung to profit. Manjushree Technopack net jumped 73%. NIIT net surged four-fold. Readymade Steel secured a piling contract worth Rs 150 crore in Singapore. VIP profit soared 217%

Credit Suisse Settles U.S. Charges for $2.6 B and Pleads Guilty

Nichole Harper
20 May, 2014
New York City

Credit Suisse Group AG agreed to a criminal wrongdoing as a part of a deal with the U.S. Justice Department for helping U.S. citizens to hide their wealth and income in offshore trusts.

Broad Sell-off in U.S. Stocks, World Markets Cautious

Nichole Harper
20 May, 2014
New York City

U.S. stocks trended lower and small cap led the decliners and extended five-week losses to near 9%. Credit Suisse agreed to a guilty plea and pay $2.6 billion fines to U.S. regulators. European markets declined on mixed earnings news.

Home Depot, Ophthotech Jump; Cato, Dicks Sporting, Staples, TJX Drop

Mukesh Buch
20 May, 2014
New York City

Cato net fell 3% but sales jumped. Dicks Sporting net jumped 5%. Donaldson net slid 4%. Home Depot profit climbed 13%. Medtronic net tumbled 54%. Staples net plummeted 43%. TJX net edged up 0.3%.

Europe Earnings: Greencore, Marks & Spencer, Vodafone, United Internet

Nigel Thomas
20 May, 2014
New York City

Greencore surged after sales jumped 8% to

Yen Gains in Tokyo, Yamaichi Electronics and Suntory in Focus on Earnings

Hiruki Nakamura
20 May, 2014
New York City

Nikkei index in Tokyo closed up and the yen closed higher for the second day in a row. Bank of Japan is scheduled to complete its 2-day meeting tomorrow and investors are looking for additional stimulus measures.