Jan 31, 2008 9:16 AM EST
Hong Kong stocks are suffering one of the worst slumps in the last decade as worries related to sub-prime losses keep rising. Five largest Japanese banks, who previously had denied signifincant exposures to the U.S. loans, are now expected to report $4.6 billion of write-downs. Investors fear a similar write-offs at banks in China ad Hong Kong. Lenovo Group gained after a rise in profit and a plan to sell mobile phone business. >>

Jan 31, 2008 9:10 AM EST
Stocks in Japan recovered from a morning loss of 1.4% to close up 1.85% or 247.44 to 13,592.47. The Topix Index gained 2% or 26.20 to close at 1,346.31. Banks in Japan are likely to report larger than estimated sub-prime losses according to local news. The estimate of losses for 2007 are running as high as 500 billion yen from the five largest banks. December csh earnigs for wages declined 1.9% and for contract employees rose 0.3%. >>

Jan 30, 2008 8:48 AM EST
Stocks fell in Hong Kong on profit taking ahead of the U.S. Federal Reserve decision on interest rates today and as chairman of Henderson Land Development Lee Shau-kee lowered his forecast for the rise in Hang Seng by 22%. Chairman''s comments are widely followed by investors. In Hong Kong trading Hang Seng Index dropped 2.6% or 638.11 at 23,653.69, while the China Enterprises index of H shares declined 4.7% or 623.77 to 12,755.41. >>

Jan 30, 2008 8:01 AM EST
Stocks in Asia and Japan faltered after the worries related to weakening subprime credit markets in the U.S. resurfaced. IMF lowered the global economic growth forecast for 2008. December industrial production index rose, but at a lower rate then estimated. METI also added that production in January and February is likely to trend lower, sparking worries that expected recovery from the housing market slump may take longer than estimated. >>

Jan 29, 2008 9:29 AM EST
Stocks in Hong Kong edged higher after losing 16% in January. Hang Seng index jumped 238.20 or 1.0% to close at 24,291.80 and China Enterprises index added 0.5% to 13,379.18. Property, banking, and energy related companies rallied. Market built expectations of another rate cut at the end of the U.S. Fed meeting tomorrow. Sun Hung Kai added 4% and Cheung Kong Ltd increased 2%. China Oilfield projected 95% rise in 2007 earnings and China Life expects earnings to rise 50%. >>

Jan 29, 2008 8:16 AM EST
Tokyo stocks rallied on the back of higher closing in the U.S. stocks and firmer trading this morning in Europe. Expectations of an additonal U.S. rate cut were building in Tokyo. Separately, India left its rates unchanged. Statistics office in Japan released December monthly household income and expenditure data. Monthly income fell 1.8% and expenditures rose 2.2% in real terms. December unemployment fell to 3.8%. >>

Jan 28, 2008 9:22 AM EST
Stocks in Tokyo and Asia fell sharply after comments from the IMF Chief suggested that monetary stimulus alone in the U.S. will not save the expected slowdown in the U.S. economy. He said that a coordinated global fiscal stimulus may be necessary. Separately, local economists in Japan worried that declining consumer spending and wages and worsening economic conditions may drive economy into recession. Shanghai plunged 7% and Singapore, Korea and Taiwan dropped 4%. >>

Jan 25, 2008 5:20 PM EST
Hong Kong market index surge led the Asian rally. U.S. fiscal stimulus of $150 billion helped indexes to recover earlier losses in the week. Hang Seng Index gained 6.7% or 1,583.10 to 25,122.37, declining 0.3% for the week, while the China Enterprises Index of H shares rose 8.4% or 1,082.55 at 14,015.75, falling 3.8% for the week. Metal and energy stocks led the gainers. >>

Jan 25, 2008 8:54 AM EST
Stocks in Japan and in Asia surged as the U.S. markets closed higher. Investors hoped that the U.S. stimulus plan will help revive the flagging economic growth. Nikkei 225 soared 4.1% or 536.38 to 13,629.16, down 1.7% for the week, while the broader Topix Index rose 4.7% or 60.32 to 1,344.77. Hong Kong and India surged nearly 7% and Australia advanced 5%. >>

Jan 24, 2008 10:35 AM EST
Chinese economy rose at 11.4% in 2007 from revised 11% in 2006 on rising trade surplus, higher fixed asset investment, and rising credit in the economy. Inflation in China remains a major threat to the economy as consumer prices tripled from a year ago. Inflation is running at twice the level preferred by the central bank. Chinesse currency Renminbi is likely to appreciate against dollar at a faster pace in 2008. >>