Feb 11
18
Nikkei 225 index is trading marginally higher at 10,841.0
Australian and Asian Market Report 18th February 2011
Asian markets are trading mostly higher this morning, taking cues from overnight gains on the Wall Street. In Japan, Nikkei is trading flat, as stocks fluctuated between gains and losses. Heiwa Real Estate paced declines, after the company revealed its plans to sell ¥13.4 billion in shares to the public and Mitsubishi Estate, while shipping lines, Nippon Yusen, Mitsui O.S.K. Lines, and Kawasaki Kisen Kaisha, traded higher, amid expectations that demand would strengthen on global growth and a rise in cargo rates. In Hong Kong, financial stocks, HSBC and Ping An Insurance Group, gained values, as risk appetite increased among investors. In South Korea, Daewoo Shipbuilding & Marine Engineering traded in positive territory, as Reuters reported that the company has won a $2 billion order from A.P. Moeller-Maersk. Nikkei 225 index is trading marginally higher at 10,841.0. Hang Seng index is up 1.0%, at 23,543.5, while the Kospi index is trading 1.7% higher at 2,009.9.
International Market Report 18th February 2011
US markets ended higher yesterday, with the S&P 500 index reversing its early session losses, as gains due to upbeat corporate earnings and robust manufacturing data outweighed losses due to accelerating inflation and a rise in initial jobless claims. Oil producers and services, Halliburton, Noble Energy and Chevron, gained between 0.5% and 2.0%, as crude oil prices soared. Among miners, Cliffs Natural Resources climbed 7.2%, after the company reported its fourth-quarter earnings that surpassed market expectations, while Newmont Mining was up 1.7%, tracking higher gold prices. Nvidia surged 9.8%, after posting a bullish revenue forecast on accelerating sales of its processors. Among beverages stocks, Dr Pepper Snapple Group advanced 5.7%, after the company posted a better-than-expected quarterly profit, while Coca Cola added 1.8%, after the company announced an increase in its dividend. DJIA gained 0.2% to 12,318.1. NASDAQ was up 0.2%, at 2,831.6. S&P 500 index rose 0.3% to 1,340.4.
