News

Tue, 26 Feb 2013 07:29:04 GMT

Won falls on Eurozone concerns

South Korea's Won declined for a second straight day as Italy's election results boosted concerns the Eurozone debt crisis is deepening. The Won fell 0.1% to 1,087.73 per U.S. Dollar at 10:17 a.m. in Seoul. One-month implied volatility increased 11 basis points to 7.47%. Government bonds climbed, pushing 3-year yield to a record low.

Tue, 26 Feb 2013 07:18:05 GMT

Yen falls on speculation BOJ will ease policy

Japan's currency declined versus the U.S. Dollar amid speculation the BOJ will expand monetary stimulus further to boost economic growth in the world's third-largest economy. The Japanese Yen lost 0.1% to 91.90 per greenback at 1:45 p.m. in Tokyo after touching 90.88 yesterday, the highest level since January 31. The Yen traded at 119.88 per Euro, after sliding 1.2%.

Mon, 25 Feb 2013 17:31:06 GMT

German stocks higher prior to parliamentary election in Italy

German shares edged higher, extending their gains for a second consecutive day on speculation the nominee for the BOJ governor's position is likely to extend monetary stimulus and Pier Luigi Bersani might win the parliamentary election of Italy. All but one group in the benchmark gauge advanced. The DAX Index rose 1.18% to 7,750.65 by 17:36 p.m. in Frankfurt. Deutsche

Mon, 25 Feb 2013 17:11:03 GMT

U.K. stocks swing between gains and losses on Monday

U.K. equities extended their gains for a second straight day, sending higher the FTSE 100 Index at the beginning of the session, yet pairing losses later in the session. However, the index is heading towards its longest winning steak in fifteen years, as BP Plc. and Anfogasta Plc. Shares rallied, offsetting the downgrade of country's credit rating. The FTSE

Mon, 25 Feb 2013 16:34:04 GMT

Hong Kong shares rebound from their 2013 low

Hong Kong equities advanced on Monday, rebounding from their Friday's 2013 low, as city government announced more stimulus to cool the market and strong results of HSMC Holdings offset the local developers' weakness. The Hang Seng index rose 0.2% to 22,280.1. All but two groups edged higher. The property sector of Hong Kong shrank after the city government introduced higher

Mon, 25 Feb 2013 16:23:40 GMT

Gold appreciates for the third day on Central Bank purchases

Spot price of gold was higher by 0.6% to $1.590.89 an ounce in the morning of London trading session on Monday. Prices slipped by 1.8% last week and reached $1,555.55 on 21 February. Today gold increases for the third day, as data indicated that central banks in Russia and Kazakhstan extended their bullion stocks last month.

Mon, 25 Feb 2013 16:00:09 GMT

Wheat slips to 8-month low on weather expectations

Wheat futures for May settlement were lower by 0.5% to $7.1225 per one bushel in the very beginning of Chicago trading session on Monday. Wheat dropped to an eight month low as investors speculate that snowstorm will help to ease drought situation in the U.S. Great Plains, before crops arise from dormancy. Currently the winter wheat are very poor condition as drought period was

Mon, 25 Feb 2013 15:38:05 GMT

Japanese shares advance on mounting hopes for more monetary stimulus

Japanese stocks jumped on Monday, sending the Nikkei 225 Stock Average to close at its four year high, as the Yen depreciated after the Prime Minister Shinzo Abe named a candidate for BOJ's governor position that is more likely to be in favour of more monetary stimulus. The Nikkei 225 Stock Average rallied 2.4% to 11,662.52, the highest level

Mon, 25 Feb 2013 15:27:18 GMT

Dow advances as HP posts strong revenue results

U.S. stocks rose on Friday, as comments from the officials of Federal Reserve downplayed concerns over ending the growth-boosting activities. The Dow Jones Industrial Average rallied 0.86% to close at 14,000.57. All but one group in the benchmark index advanced. Hewlett-Packard gave a strong boost for the Dow after posting higher-than-expected revenue. Coca-Cola Co climbed 2.2% to $38.52 and lifted

Mon, 25 Feb 2013 15:16:36 GMT

S&P 500 climbs on Friday as investors alley amid Fed's announcement

U.S. shares were bullish on Friday, supported by sound results from Hewlett-Packard Co. In addition, concerns over Federal Reserve's Policy faded. The S&P Index rallied 0.88%, yet posting a 0.3% decline on the week. All sectors in the gauge edged higher. Hewlett-Packard took the market leader position with its shares jumping 12.3% to $19.20 after the PC maker posted strong

Mon, 25 Feb 2013 12:17:04 GMT

Unexpected decline of U.K morgage approvals

Despite the forecast rise of U.K mortgage approvals to 34,000, there was a rapid drop to 32,288 in January from 33,440 the month before. Meanwhile, gross mortgage borrowing was above the latest monthly average rising to 7.7 billion GBP in January. According to BBA report, consumer claims for borrowings and overdrafts stayed quite low and the reimbursement of insecure personal

Mon, 25 Feb 2013 11:43:04 GMT

WTI Oil Close to Two-Day High before Negotians with Iran on Nuclear

West Texas Intermediate oil almost reached two-day high ahead of negotiations with Iran on its nuclear programme tomorrow in Kazakhstan. WTI April-delivery oil was little changed on Monday in New York and was settled $93.05 a barrel, 8 cents lower, after gaining to $93.13 on February 22, the strongest since February 20. The contract for Brent oil April-delivery lost 19

Mon, 25 Feb 2013 11:32:04 GMT

China's manufacturing expands at a slower pace

Chinese manufacturing growth unexpectedly slowed in February as foreign orders declined and output expanded at a slower pace, clouding hopes of economic rebound in the beginning of 2013, according to data released by Markit Economics. The HSBC flash Manufacturing PMI fell to 50.4, the lowest level in 4 months, from 52.3 in January. The manufacturing output index declined to 50.9

Mon, 25 Feb 2013 11:21:05 GMT

Asian stocks rise on BOJ

Asian shares advanced, prolonging last week's gain, as Japan's stocks rose amid speculation the next BOJ Governor will implement aggressive monetary easing. The MSCI Asia Pacific Index added 0.3% to 134 at 3:44 p.m. in Tokyo after increasing 0.5% last week. Japan's Topix Index climbed 1.8%, while the Nikkei 225 Stock Average advanced 2.3%, heading for the highest close since

Mon, 25 Feb 2013 11:10:48 GMT

Aussie declines as China's manufacturing expands at a slower pace

The Australian Dollar fell versus most of the major counterparts as preliminary data indicated China's manufacturing activity expands at a slower pace, clouding the outlook for Australia's exports. The Aussie fell 0.4% to $1.0278 as of 4:59 p.m. in Sydney. It fetched 97.73 yen, the strongest level since August 2008, before touching 96.81, 0.4% above the close on Friday. 

Mon, 25 Feb 2013 10:57:07 GMT

Yen Fell to 3-Year Low on BOJ New Governor

The Yen depreciated to the weakest since May 2010 as Japan's government decrease number of candidates for the position of the Bank of Japan governor. The Yen weakened versus all its main counterparts on concerns Shinzo Abe, Lapar Prime Minister, will nominate Huriko Kurodo, the president of Asian Development Bank, for BOJ governor. The Asian currency dropped 0.9% versus the U.S. Dollar to 94.21 per Dollar

Mon, 25 Feb 2013 10:35:09 GMT

Coffee jumps amid strikes in Santos, spreading leaf rust

Farm commodities were mixed on Friday, with softs advancing and grains sliding. Pushing the commodity group higher, port workers began a strike in Brazil, stopping a loading of sugar and corn onto boats in Santos. However, improving weather conditions in the US Great Plains as well as bearish USDA report put heavy selling pressure on grains. Wheat plunged on hopes that

Mon, 25 Feb 2013 10:13:07 GMT

Heating oil climbs as US stockpiles decline

Energy futures rallied on Friday as a recent decline in prices spurred bargain- hunting. However, solid greenback and escalated worries over the health of the Eurozone's banking sector continued to push the commodity group lower.Crude and Brent oil bounced off as market players were seeking cheap valuations after prices sagged to a seven-week low. At the same time, a surge

Mon, 25 Feb 2013 09:51:08 GMT

Won falls as Yen declines

The South Korean Won declined as the Yen's fall boosted concern Korea will take steps to weaken the nation's currency to support exporters. The Won weakened 0.2% to 1,086.36 per U.S. Dollar in Seoul, with one-month implied volatility, rising 17 basis points to 7.44%. Korea's currency climbed as much as 1% versus Japan's peer to 11.52 per yen. 

Mon, 25 Feb 2013 09:40:53 GMT

Zinc plunged amid global supply glut

Industrial metals apart from nickel closed lower on Friday amid broadly stronger US Dollar and elevated LME inventories. Meanwhile, market participants were cautious ahead of the HSBC flash manufacturing PMI release due on Monday. Aluminum posted the biggest drop in 15 months amid increasing global supply glut. Global output of the lightweight metal surged by annualized 5.7% in January, according to

Mon, 25 Feb 2013 09:15:07 GMT

Palladium advances on persistent supply concerns

Precious metals except for platinum traded higher on Friday on hopes that the Fed will refrain from ending its bond-buying activities sooner-than-planned amid soft US data. However, solid greenback put pressure on the commodity complex. Gold inched up on expectations of strong physical demand from central banks in Asia. At the same time, the yellow metal came under heavy pressure

Fri, 22 Feb 2013 20:04:04 GMT

DAX

German stocks traded higher on Friday, as data showed German confidence rose more than expected. The German business climate index advanced from 104.3 in January to 107.4 in February. The DAX index surged as much as 1.03% to close at 7,661.91. All but two sectors in the gauge soared. The telecommunications and utility stocks jumped the most. The latter group

Fri, 22 Feb 2013 19:53:05 GMT

FTSE 100

U.K. equities climbed after a report showed that German business confidence topped the estimates. The FTSE 100 Index rebounded from earlier losses and advanced 0.5%, or 31.77 points to 6,323.31, yet posting a 0.1% drop on the week. All but one group in the gauge edged higher. Polymental International gained 3.3%, the most in the benchmark index, and capped losses

Fri, 22 Feb 2013 19:42:03 GMT

Hang Seng Index

Hong Kong equities extended their losses on Friday with the Hang Seng index pairing its biggest weekly decline in more than two years as data on Chinese economy showed disappointing results. The Hang Seng index erased 0.5% to close at 22,782.44 and posted a 2.8% this week. All but two sectors in the benchmark index inched lower. Li & Fung,

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