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Asian markets start week on a positive note

09 Feb 2009 | 18:29 Asian markets start week on a positive note Asian markets started the week on a positive note with the market participants hoping for the quick passage of a large U.S. economic stimulus package and a less than expected slide in December core machinery orders in Japan supporting the Asian exporters. However, on the whole, the global economic outlook is still messy as the US economy reported a dismal piece of economic data in the form of the form of non-farm payrolls  The statistics from the US Labor Department's employment situation report showed that through January, national payrolls shrunk by 598,000 jobs. This was the largest contraction since December of 1971.  Meanwhile, the Asian markets drew comfort from the fact that the utterly negative non farm payrolls is likely to quicken the pace for the passage of a large U.S. economic stimulus package and in turn displayed the same exuberanc
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Asian Market Support Stimulus With Surge

03 Feb 2009 | 16:28 Asian Market Support Stimulus With Surge Stock markets in Asian region closed mostly higher on Tuesday 3 February 2009, despiteof lackluster performance on Wall Street overnight and stimulus measures in Japan andAustralia to stabilize markets and support their economies. The Bank of Japan announced tobuy about 1 trillion yen ($11.2 billion) in corporate shares held by banks, while theReserve Bank of Australia announced a $ 26 billion fresh spending to help the country'sresources-based economy accompanied by 100 basis point rate cut from Reserve Bank ofAustralia taking the interest rate to 3.25%. Stocks at Wall Street ended on a mixed note trimming some of its early losses after datashowed a smaller-than-expected contraction in the manufacturing sector. The Dow JonesIndustrial Average finished down 64.11 points, or 0.8%, to 7,936.75. The S&P 500gained half of a point to stand at 825.43,
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US stocks end higher

04 Feb 2009 | 09:34 US stocks end higher Stocks at Wall Street ended higher on Tuesday, 03 January, 2009. Couple of better than expected earning reports and a positive economic data pertaining to the housing industry gave a good boost to the stocks. Even though January car sales data checked in line with expectations, each company witnessing major drop, stocks ignored the data and Dow continued to climb upwards. The Dow Jones Industrial Average ended higher by 141 points at 8,078, the Nasdaq closed higher by 22 points at 1,516 and the S&P 500 closed higher by 13 points at 838. Nine of the ten sectors ended in the green today. Financials were the only laggard. GM was one of the few laggards among Dow components today. The auto sales of January that checked in came in as usual. Ford announced January sales declined approximately 40% year-over-year, while General Motors reported a near 51% year-over-year drop
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Asian Market extends Wall Street Rally

04 Feb 2009 | 16:48 Asian Market extends Wall Street Rally Stock markets in Asian region closed mostly higher on Wednesday 4 February 2009, asheartening news on the housing market in the US and a recovery in China's manufacturingactivity in January improved the outlook for the battered global economy. Following theAustralian stimulus package China's central government has launched a new stimulusplan totaling 130 billion Yuan (19 billion U.S. dollars) to boost its economy. Stocks at Wall Street ended higher as couple of better than expected earning reports and apositive economic data pertaining to the housing industry gave a good boost to the stocks.The Dow Jones Industrial Average ended higher by 141 points at 8,078, the Nasdaq closedhigher by 22 points at 1,516 and the S&P 500 closed higher by 13 points at 838. Among major economic reports for the day, the National Association of Realtors reportedtoda
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A weak finish to a strong start at Wall Street

05 Feb 2009 | 09:37 A weak finish to a strong start at Wall Street A strong start to the day ended in a weak finish at Wall Street on Wednesday, 04 January, 2009. Couple of better than feared economic reports gave a good start to stocks early during the day. But the momentum faded after a few companies missed their earning estimates. Oil prices too gave up early gains after Energy Department reported more than expected build up in crude inventory during last week. After trading higher by 65 points earlier during the day, The Dow Jones Industrial Average ended lower by 122 points at 7,956, the Nasdaq closed lower by 1.2 points at 1,515 and the S&P 500 closed lower by 6.3 points at 832. Six of the ten sectors ended in the red today led by the telecom sector. Today, disappointing earnings came from Disney and Kraft. Kraft also disappointed by lowering its outlook. Both companies weighed on the Dow. Earlier d
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Asian markets whistle retreat song

05 Feb 2009 | 16:23 Asian markets whistle retreat song Stock market in Asian region finished mostly lower on Thursday 5 February 2009, as mostof the investors booked profit following the previous day's gains amid spreadingconcerns over the global economy. The regional market also followed a weak finish at Wall Street on Wednesday. Couple ofbetter than feared economic reports gave a good start to stocks early during the day. Butthe momentum faded after a few companies missed their earning estimates. Oil prices toogave up early gains after Energy Department reported more than expected build up in crudeinventory during last week. After trading higher by 65 points earlier during the day, TheDow Jones Industrial Average ended lower by 122 points at 7,956, the Nasdaq closed lowerby 1.2 points at 1,515 and the S&P 500 closed lower by 6.3 points at 832. Among major economic reports for the day, the Institute for S
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US stocks manage a decent turnaround

06 Feb 2009 | 09:30 US stocks manage a decent turnaround Stocks at Wall Street ended higher on Thursday, 05 January, 2009. Couple of better than earning reports helped stocks gain momentum which had otherwise had a slow start due to a weaker than expected guidance from Cisco Systems after yesterday's close. Economic reports dominated the first half today and all were almost in line with expectations pointing out towards an economy in recession. Financial and technology sectors contributed to the turnaround. After opening 103 points lower earlier in the day, The Dow Jones Industrial Average ended higher by 106 points at 8,063, the Nasdaq closed higher by 31 points at 1,546 and the S&P 500 closed higher by 13 points at 845. Indices managed a turnaround after reports hit the wires that Treasury Secretary Geithner is expected to unveil a comprehensive financial framework plan on next Monday. The traders ant
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