Market Gazer Hong Kong - Japan - Germany - UK - North America
market review : asia excluding revaluation gains amounted to
Nikkei 225 Average ended up 51.29 points
or 0.57% higher at 9,114.13 and Hong
Kong’s Hang Seng index resumed its
ascend to 20,971.50. Shanghai Composite
fell however, to 2,655.39 as concerns over
the government’s action on the property
markets sent property stocks on retreat.
US pending home sales data and jobless
claims released overnight were the main
drivers to the rise. Caution was in the air
as investors braced for the widely
anticipated Non-farm Payrolls data due
later in US session.
Ping An jumped again for
the second day in a row
after it resumed trading
following a long break
since late June. The
insurance group climbed 5.45% towards
HK$69.70, lending support to the Hang
Seng index performance. Deutsche Bank
however, lowered its target from
HK$88.00 to HK$78.89.
Following disappointing fiscal year results,
Morgan Stanley revised Esprit’s target to
HK$52 from HK$73, while Citigroup
adjusted its target to HK59 from HK$62.
Esprit plunged deeper as it settled at
HK$40.65 or 5.24% lower.
In contrast, Sino Land
edged up 3.24% to
HK$14.02 after it
reported a better-than-
expected fiscal year
results late on Thursday. Net profit
September 3rd 2010
HK$3.51 billion which, despite falling 2.6%
against prior year, were better than the
consensus of HK$3.37 billion.
Top gainers in Japan on Friday were Sony
Corp. - which recently opened a direct
rivalry against Apple in video and photo
streaming services after launching
Qriocity – with 2.39% gains at ¥2,485, TDK
Corp. with 2.09% rise to ¥4,640, and
Toyota Motor Corp. which advanced
2.39% to ¥2,485. Languishing at the
bottom were Honda Motor which shed
1.22% to ¥2,824, Nikon Corp. with 0.63%
decline to ¥1,425, and Kyocera which
ended 0.4% lower at ¥7,480.
On the top along with Sino Land, China
Merchants Holdings rose 2.47% towards
HK$27 while Cathay Pacific Airways
advanced to HK$19.80 or up 2.27%. Yue
Yuen Industrials and China Resources
joined Esprit Holdings at the bottom,
falling 0.99% and 1.35%, respectively.
Disclaimer: This report is provided for information purposes
only. It is not an offer to sell or to buy any securities. This
report has been prepared based on sources believed to be
reliable, but there is no assurance or guarantee regarding its
completeness & and accuracy. The author accepts any
responsibility or liability arising from any use of the report. The
author at the moment of writing has interest in any of the
securities mentioned in the report.
E-mail: market.techspeak@gmail.com
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