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Asia: Addressing the G20 and the merging companies were the key to success

Sep 7th, 2009 | By admin | Category: Reviews and ideas

 

Monday, September 7, the major stock indexes of the Asia-Pacific region with a few exceptions, have completed the session in positive territory. Statistics on the labor market in the U.S. and, as a consequence, the closure of U.S. indexes on the Green Zone have given confidence to investors. Another positive development was the outcome of the meeting of finance ministers and heads of central banks of G20, which called for continued support of the financial sector and the economy as a whole.

As a result of the auctions the index MSCI Asia Pacific grew by 1.1% and closed at the level of 114,06 points. Japanese Nikkei 225 index added 1.31%, Chinese CSI 300 has added to its asset 0,88%, and the Australian SP/ASX200 left in plus on 0,43%. An exception to the overall positive dynamics of the steel markets of South Korea, Pakistan and Vietnam.

Shares of Japan's largest chip manufacturer Toshiba strengthened by 3,4% after it announced its plans to reduce the production of integrated circuits to reduce costs.

Today it became known that the investment company Advanced Technology Investment has agreed to pay $ 1.8 billion for the shares of the Singapore chip manufacturer Chartered Semiconductor Manufacturing. As a result, quotes Chartered Semiconductor closed in a minus on 2,6%.

Against the background of the expected increase in investment in real estate sector in China, paper Agile Property Holdings went up by 3,8%, but rates of Shanghai developer SPG Land (Holdings) jumped by 18%.

With the launch of good statistics on the labor market in the U.S., fortune smiled Japanese exporters get most of the proceeds to overseas market. Thus, Japan's largest paper manufacturer of office equipment Canon became heavier at 2.3%, while shares of Japan's leading automaker Toyota Motor went up by 0,8%.

Quotations Suzuki Motor, the second largest Japanese manufacturer of small cars, have stepped up to 1,9%. In the Nikkei newspaper reported the fact that Suzuki plans to spend 30 billion yen ($ 322 million) to build a new plant in India in 2011.

Shares of Chinese mobile operator China Unicom stouter on 1,3% after the second largest in Europe, the telephone company Telefonica said it planned to increase its share in it with 5,4% to 8,1% and to pay for an additional package shares of $ 1 billion

Against the background of the world's largest mining company BHP Billiton and its rival Rio Tinto Group that they intend to combine their Canadian divisions for mining, paper, BHP added 0.4% of market value, and quotes Rio Tinto went in at plus 2, 3%.

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