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Asian Markets, Metals Drop on China Overheating

123jump.com Staff
21 Jan, 2010
New York City

Markets in Asia and Europe were on the defensive after China reported fourth quarter economic expansion of 10.7%. In 2009, economy grew at a rate of 8.7%, above 8% target rate. Metal prices fell in London trading on the worries that China will issue more measures to tighten lending.

Inflation in India Spikes, L&T Drops 6%

Mayank Mehta
21 Jan, 2010
New York City

The Sensex index in India dropped 2.4% after wholesale inflation index surged and Larsen & Toubro lowered its sales outlook. Reserve Bank of India may be forced to increase rate at its meeting on Jan 29. Rupee declined. Kotak Mahindra quarterly net surges 153%.

China to Trim Lending by 22%; Stocks Plunge

Mayank Mehta
20 Jan, 2010
New York City

Markets in Hong Kong and Shanghai dropped sharply after regulators seek to curb lending by 22% in 2010. Home prices are expected to increase at least 10% in mainland China and Hong Kong. Property price index in Hong Kong surged 33% in 2009, leading the world real estate prices.

Japan Service Index Falls, Stocks Weak

Darlington Musarurwa
20 Jan, 2010
New York City

Stocks in Japan traded flat as investors await earnings from banks, exporters and trading companies in few weeks. Resource stocks showed a negative bias. Japan demand for services fall 0.2% in November. Tokyo condo supply falls 16.8% in 2009.

Australian Sentiment Index Up; BHP Ore Output Up

Darlington Musarurwa
20 Jan, 2010
New York City

Australia

India Stocks Flat; NTPC, TVS, Siemens Rise

Mayank Mehta
20 Jan, 2010
New York City

Mumbai stocks closed flat as investors digest earnings. HDFC third quarter net profit increases 23% and quarterly net at India Infoline doubled. JSW Steel Ltd more than doubled on sales rise of 47%. Diamond exports in December increased 45% from a year ago.

World Stocks, Gold Decline on China Comments

123jump.com Staff
20 Jan, 2010
New York City

U.S. indexes followed lower world markets on weak commodities prices after Chinese regulators look for more ways to arrest rising real estate prices. China is looking to trim lending by 22% as the country prepares to withdraw stimulus and curb a rise in asset prices.

Indexes in Germany, France Fall 2%

Mayank Mehta
20 Jan, 2010
New York City

European indexes closed sharply lower on weak euro. Yields on Greek bonds increased and Greece plans to raise

Weak Metals Drag UK Stocks, William Hill Up 6%

Mayank Mehta
20 Jan, 2010
New York City

Weak commodities prices sent stocks in London lower, metals fell after Chinese banking regulator comments suggested a possible lending tightening. Electronics retailer Kesa Electricals declined after it reported weak sales in holiday period. William Hill, the bookmaker soared on sales rise of 6%.

CSX, Kraft, Coach Schawb Fall

Mayank Mehta
20 Jan, 2010
New York City

CSX Corporation led the decliners in the S&P 500 index with a loss of 6.3%. The Charles Schwab Corp fourth quarter profit declines 47%. Bank of America loss widens to $5.2 billion and Bank of New York Mellon fourth quarter net jumps.

U.S. Stocks Fall on Weak Housing Starts

123jump.com Staff
20 Jan, 2010
New York City

U.S. stocks traded lower after December housing starts declined 4% and completion fell 11.2%. Bank of America quarterly loss widened but loan loss provisions were elevated but stable. Wells Fargo swings to net income.

Australian Imports Surge 7%; Stocks Fall

Darlington Musarurwa
19 Jan, 2010
New York City

Australian imports surges 7% to A$17 billion in December. Newcastle coal exports in the last week declined 16% from the previous week to 1.56 million tons. Flight Centre upgrades profit forecast between 60% and 80%.

Tokyo Stocks Decline on JAL Bankruptcy

Darlington Musarurwa
19 Jan, 2010
New York City

JAL Corp, once the largest airline in Asia filed bankruptcy protection with $25 billion of debt. JAL will be delisted from the TSE wiping out shareholders and tax payers will shoulder $4.5 billion of debt burden.

India Inflation Worries; Govt Stake Sale

Mayank Mehta
19 Jan, 2010
New York City

Stocks in India closed lower as the inflation is expected to run ahead of market expectations. The central bank is looking to expand currency future contracts. Reliance Capital is looking to sell minority stake sale to a foreign investor. NMDC, Hindustan Copper rise on government stake sale talks.

European Talks Waver; Arcelor, BHP Africa Talks

Mayank Mehta
19 Jan, 2010
New York City

European markets in volatile trading closed higher. Alstom SA declined after quarterly sales increased 3%, lower than expected. ArcelorMittal and BHP Billiton are looking to form a joint venture to combine their mining ventures in Africa. Vinci Aand partners were selected for a tunnel project in UK.

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