Jun 11
16
Nikkei 225 index is trading 0.2% lower, at 9,531.6.
Australian and Asian Report 15th June 2011
Asian markets are trading lower, as investors speculated that China and India would implement further interest rate hikes to curb the accelerating inflation. In Japan, exporters traded higher, as better-than-expected US retail sales boosted the outlook for exporters. Inpex Corp. gained, in line with a rise in oil prices yesterday, while Hino Motors climbed, after predicting a net income of ¥12 billion this fiscal year, compared to a loss of ¥10 billion a year earlier. However, banks slipped, erasing gains in the Nikkei 225 index. In Hong Kong, the People’s Bank of China’s move to raise the reserve requirement ratios for banks continued to weigh on shares of Bank of China and HSBC Holdings. In South Korea, an unexpectedly fall in the nation’s unemployment rate failed to drive gains in Kospi index. Nikkei 225 index is trading 0.2% lower, at 9,531.6. Hang Seng index is down 0.4%, at 22,406.2, while the Kospi index is trading 0.5% lower, at 2,065.7.
International Report 15th June 2011
US markets rallied yesterday, as positive reports on US retail sales and Chinese industrial production buoyed sentiment among investors. Retailers, J.C. Penney and Best Buy, surged 17.0% and 4.5%, as the former appointed Ron Johnson, Apple’s retail head, as its Chief Executive Officer, while the latter’s net income managed to surpass market expectations. Among technology stocks, shares of Apple rose 1.8%, as the company resolved a patent litigation dispute with Nokia, while Hutchinson Technology, up 13.5%, led the makers of disk drives and related components higher, after the company lifted its outlook for shipments of suspension assemblies for its current, fiscal third quarter. Energy stocks, Exxon Mobil and Chevron, paced gains, as oil prices edged up. DJIA gained 1.0% or 123.1 points to 12,076.1. NASDAQ climbed 1.5% or 39.0 points to 2,678.7. S&P 500 index closed 1.3% higher, at 1,287.9.
