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Friday, July 09, 2010

Regional Market Update
Asian markets higher on gains in U.S. markets
·         Asian markets were mostly higher on overnight gains in U.S. markets. Overnight U.S. stocks rose after better-than-expected report on unemployment claims eased economic worries. Most Asian markets were up led by gains in commodity and exporter stocks.
Index Movements
Level
% Chg
% Chg 5D
% Chg 1M
% Chg 3M
% Chg 6M
% YTD
P/E (Fwd)
P/B (Fwd)
Nikkei 225
9,542
0.1
3.7
1.1
(14.8)
(11.6)
(9.5)
               17.7
                   1.2
S&P/ASX 200
4,366
0.2
3.0
(0.4)
(11.8)
(11.1)
(10.4)
               14.1
                   1.7
Taiwan Taiex
7,633
0.3
4.1
7.9
(5.7)
(7.8)
(6.8)
               13.9
                   2.0
Kospi
1,707
0.5
2.1
3.6
(1.0)
0.7
1.4
               10.2
                   1.3
Hang Seng
20,178
0.6
1.4
2.8
(9.1)
(9.5)
(7.7)
               13.3
                   1.7
Shanghai SE Composite
2,416
0.0
1.4
(6.5)
(23.2)
(24.4)
(26.3)
               14.2
                   2.0
Hang Seng China Enterprises
11,503
1.1
2.3
3.0
(11.8)
(11.8)
(10.1)
               12.1
                   1.9
Straits Times
2,905
0.3
2.1
5.8
(2.3)
(0.6)
0.2
               14.2
                   1.6
Jakarta Composite
2,915
(0.0)
1.5
4.6
2.4
11.5
15.0
               13.8
                   2.9
Nifty
5,297
0.0
1.1
5.9
(1.2)
1.0
1.8
               17.1
                   2.8
Nifty level with one day's lag









Australia and New Zealand
·         The Australian market up, with the energy sector holding up the market even amid profit-taking in material and financial stocks ahead of the weekend. BHP Billiton was down 0.6%, Westpac lost 0.2% and Macquarie gave up 0.7%.
·         In the energy sector, Santos rose 7.6% after the Australian Financial Review reported that the company was in talks with Royal Dutch Shell about Shell taking a 30%-35% stake in Santos-led Gladstone LNG project.
Japan
·         Japanese indices were flat, with capital-raising plans and earnings concerns hobbling demand after Inpex Corp. said it plans to raise $6 billion in new capital. Inpex Corp. was down 15% after the oil and gas producer on Thursday said it is aiming to raise about $6 billion via a new share issue to fund development of its flagship Ichthys gas development project in Australia. Fast Retailing dropped 2.4% after the retailer on Thursday cut its net profit and revenue outlook for the full fiscal year and reported weaker results for its third quarter.
·         Exporters' stocks helped to support the broader market after the euro's strength against the yen on Thursday. Sony was up 1.2%, Canon tacked on 1.5% and Casio Computers rose 0.9%.
Taiwan
·         Taiwan’s Taiex edged higher on gains in tech and financials following overnight gains in U.S. markets. Quanta Computer, worlds second largest laptop market gained 1.2% to NT$60.70, the highest since June 21 after it said in a filing to the Taiwan Stock Exchange that June sales rose 56% YoY to NT$97 billion. United Microelectronics increased 1.1% to NT$14.35. The world’s second-largest contract maker of custom chips said June sales rose 25% YoY to NT$10 billion.
South Korea
·         Banks, techs and auto makers were leading the Korean market higher. Woori Finance rose 1.7%, Samsung Electronics added 0.8%, Hynix Semiconductor added 1.0% and Hyundai Motor tacked on 0.7%.
China
·         Chinese bourses erased early losses as consumer stocks advances countering losses by financials and commodity producers. Stocks rose after overnight gains in U.S. markets on better that expected jobs data.
Hong Kong
·          Hong Kong stocks rose for a second day after U.S. jobless claims fell, fueling confidence in the world’s biggest economy, and as Li & Fung Ltd. gained after announcing acquisitions.
·         Li & Fung, the largest supplier to retailers including Wal-Mart Stores Inc., jumped 4.7%. Cosco Pacific Ltd., Asia’s third-biggest container-terminal operator, advanced 1.4%. PetroChina Co., the nation’s No. 1 oil and gas producer, climbed 1.3% after crude oil prices rose. China Shenhua Energy Co., the nation’s biggest coal producer, increased 1.1% on broker upgrades.
Singapore
·         Singapore’s Strait Times index was up on gains in financials, commodity traders and telecom stocks. Rotary Engineering rose 1.1% to 95.5 Singapore cents after news that the provider of engineering design and construction services for plants said its subsidiary has increased its investment in iPromar Pte.
·         Singapore Exchange gained 0.4% to S$7.41 on news that London Metal Exchange has entered discussions with the operator of the Singapore’s derivatives and securities exchange on the possibility of cooperation.

Currency Updates
Date
9-Jul-10

USD
EUR
GBP
JPY
INR
USD
1.0000
1.2690
1.5156
0.0113
0.0213
EUR
0.7881
1.0000
1.1943
0.8889
0.0168
GBP
0.6598
0.8373
1.0000
0.7443
0.0141
JPY
88.6600
112.4900
134.3600
1.0000
1.8910
INR
46.8650
59.0570
71.0254
0.5288
1.0000