India Gazette
IndiaGazette.com Wednesday 20th August 2008 Issue 1582
Front Page Asia Markets News
UPDATE 4-Gold steady as physical buying supports


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LONDON, Aug 20 (Reuters) - Gold steadied in Europe on Wednesday as strong demand for physical stocks of the precious metal supported prices after a recent dip. The metal climbed to a one-week high...


Shanghai, Hong Kong Stocks Surge
soared Wednesday, shaking off weak sentiment that hurt their performance over the last several days, on speculation the mainland government was considering a fiscal stimulus...


HK stocks advance 2.2 pct on China stimulus hopes
HONG KONG, Aug 20 (Reuters) - Hong Kong shares recovered from early losses with the benchmark index surging 2.18 percent on Wednesday amid hopes of a stimulus package to aid fragile mainland stock...


Key 10-year JGB yield up on sharp rises in Asian stocks+
TOKYO, Aug. 20 (AP) - (Kyodo)—The yield on the benchmark 10-year Japanese government bond rose Wednesday as investors sold bonds on the back of sharp rises in Asian equities. In interdealer...


FOREX-Dollar broadly firm; global growth fears support
LONDON, Aug 20 (Reuters) - The dollar held near a 2008 high set the previous session against a basket of major currencies on Wednesday, as investor bearishness on the global economic outlook...


Fund returns put investors in the lap of luxury
At a time when raw materials and Chinese shares are losing value, funds investing in the makers of world-renowned luxury goods posted returns of 10 percent or so. By contrast, raw material funds,...


Heard on the street
The word is out that Mahendra Jajoo, head, fixed Income at ABN Amro Mutual Fund, has put in his papers after spending over three years at the ...


Asian markets mostly in red; Nikkei up 231pts
The Hang Seng has dropped 175 points to 20,985. The Nikkei, however, has rallied 231 points to 13,250. The Taiwan Weighted index has shed 165 points at 7,032. The Straits Times index is down 10...


China stocks jump on speculation over policy plans
An investor gestures at a private security company Wednesday Aug. 20, 2008 in Shanghai, China. Chinese stocks have posted their biggest gain in nearly four months on speculation Beijing plans new...


Kospi falls on concerns about overseas sales
Korean stocks tumbled yesterday as investors dumped tech, shipyard and other large-cap shares on renewed concerns over financial instability and a global economic slowdown, analysts...


Market rises as investors snatch up deals
Korean stocks closed higher yesterday as foreign investors snapped up steel, shipyard and other recently oversold shares despite lingering concerns over a global slowdown, analysts...


Property developers drag HK shares to new 1-yr low
HONG KONG, Aug 19 (Reuters) - Hong Kong shares fell 2.1 percent on Tueday to close at a new one-year, weighed down by losses in property stocks ahead of earnings reports, but power stocks rallied...


Dollar rises against the Japanese yen in trading late Tuesday night
August 19, 2008 - 9:44 p.m. NEW YORK (AP) - The dollar edged up against the Japanese yen late Tuesday night, trading at 109.87 yen compared with 109.82 yen it bought in late afternoon...


Asian stocks reverse course, edging higher
Most Asian stock markets edged higher Wednesday, rebounding from a two-year low as Chinese shares surged on hopes for policies from Beijing to jump start growth, though many analysts said it was a...


Shanghai Surge Sparks Region
By V. Phani Kumar Shanghai stocks soared Wednesday on speculation that the Chinese government was considering a fiscal stimulus package, triggering a recovery across the region. The Shanghai...


HK Hot Stocks- Power stocks fall, Tsingtao shines
China is raising on-grid power tariffs for thermal generators by 0.02 yuan ($0.291) per kilowatt hour, or about 5 percent, the second rise in less than two months, the government said on Tuesday,...


HK shares reverse course to rise more than 1 pct
HONG KONG, Aug 20 (Reuters) - Hong Kong shares reversed their opening losses to gain more than one percent on Wednesday as bargain hunters returned on hope of a rescue package to support fragile...


HK shares open down 0.47 pct on U.S., PICC falls
HONG KONG, Aug 20 (Reuters) - Hong Kong shares will open 0.47 percent lower on Wednesday after their worst close in a year, with sentiment further dampened by a second losing session on Wall...


HK shares seen lower on Wall St. losses
HONG KONG, Aug 20 (Reuters) - Hong Kong shares are seen heading south on Wednesday from their lowest close in a year, hit by a second losing session on Wall Street as credit worries continue to...


UPDATE 1-Gold rallies to near-1 week high as oil firms
SINGAPORE, Aug 20 (Reuters) - Gold rose to its highest in almost a week on Wednesday after gains in oil prices spurred buying, which also helped to pluck cash platinum from its lowest level in...


Techs drop in Tokyo, resources lift Sydney
HONG KONG (MarketWatch) -- Asian markets were mostly lower Wednesday, with Japanese shares extending losses on Kyocera Corp. and Advantest Corp. after technology stocks dropped overnight on Wall...


FOREX-Profit-taking, weak stocks drag US dollar lower
NEW YORK, Aug 19 (Reuters) - The U.S. dollar fell for a second day on Tuesday, hit by a bout of profit-taking after recent sharp gains, as crude oil prices rose and stocks on Wall Street sagged on...


Kospi falls on automaker and shipping losses
The local currency fell against the U.S. dollar. The benchmark Kospi lost 4.48 points, or 0.28 percent, to 1,567.71. Volume was thin at 255.3 million shares worth 3.35 trillion won ($3.21 billion),...


Kotak PE invests in Rubicon Research
Kotak, however, did not disclose the amount invested. "We have invested in Rubicon Research," Kotak PE CEO Nitin Deshmukh told reporters here. Rubicon Research was established in 2000 as a...


FOREX-US dollar falls for 2nd straight day as stocks weigh
NEW YORK, Aug 19 (Reuters) - The U.S. dollar weakened across the board on Tuesday, declining for a second straight session, as investors took advantage of weakness in U.S. stocks to further take...


UPDATE 6-Gold slips on dollar, platinum off 11-month low
LONDON, Aug 19 (Reuters) - Gold fell on Monday as the dollar extended gains against the euro after U.S. inflation data came in higher than expected, while platinum held just off an 11-month low of...


Asian markets fall on renewed U.S. credit concerns
(RTTNews) - The stock markets across the Asia-Pacific region fell to a two-year low on Tuesday, as fears that the U.S. government will have to bail out the top mortgage finance companies weighed on...


Asian markets trade mixed - Asian commentary
(RTTNews) - The stock markets in the Asia-Pacific region were trading mixed on Monday following the mixed closing on Wall Street Friday. The stock markets in Japan, South Korea and Australia were...


FOREX-Dollar hits 2008 high vs basket of major currencies
LONDON, Aug 19 (Reuters) - The dollar renewed its broad rally on Tuesday, lifted to its highest for the year against a basket of currencies by another dip in commodities prices and ongoing worries...


Asian stock markets tumble after Wall Street loss and new worry over financial sector
Jeremiah Marquez August 19, 2008 - 03:11 a.m. HONG KONG (AP) - Asian markets pulled back Tuesday, following Wall Street lower on worries that the U.S government might need to bail out top...


UPDATE 3-Platinum falls 6 pct, gold dips below $800 again
SINGAPORE, Aug 19 (Reuters) - Platinum slipped more than 6 percent on Tuesday to its lowest since mid-September last year, on waning demand from automakers and general weakness in precious metals...


Asian stocks sink on U.S. housing crisis fears
Asian stocks fell to a two-year low Tuesday, led by exporter shares, on fears that the U.S. government will have to bail out the top mortgage finance companies, further destabilizing the financial...


China stocks plunge 5 percent on airline sell-off
China's key Shanghai Composite Index falls 5.3 percent Stocks dive in broad sell-off led by airlines, refiners Airlines were among the biggest...


Platinum tumbles to lowest since September
SINGAPORE, Aug 15 (Reuters) - Platinum tumbled more than 4 percent to its weakest since mid-September on Tuesday as weaker gold and oil prices sparked another round of...


FOREX-US dollar pauses for breath as commodities rebound
NEW YORK, Aug 18 (Reuters) - The U.S. dollar eased off a seven-month peak against the yen on Monday, halting an 11-day advance against a basket of currencies, as falling stocks and rebounding gold...


Hk shares close at year low on China worries, earnings
HONG KONG, Aug 18 (Reuters) - Hong Kong stocks fell 1.1 percent on Monday to their lowest close in a year after the latest market boosting comments from Chinese regulators missed their mark and...


Popular FMPs attract Fidelity
MUMBAI : The country fund unit of Fidelity International will launch its first fixed maturity plan (FMP) on Wednesday, marking entry into a product class that has cornered the most of the inflow...


JPMorgan India plans first globally-invested fund
MUMBAI: The Indian fund unit of JPMorgan plans to launch a fund investing in Middle East, Africa and emerging Europe, joining the likes of ING and Mirae, who are looking to offer global ...


Singapore dollar up as US dollar rally pauses
Close this SINGAPORE -- The Singapore dollar and Malaysian ringgit rebounded from multi-month lows as the US dollar retreated from a six-month high hit against the euro on Monday, but traders said...


Nikkei Average Modestly Lower in Morning
Tokyo, Aug 14, 2008 (Jiji Press) - The benchmark Nikkei average recouped the bulk of its early loss to end the morning modestly lower on the Tokyo Stock Exchange Thursday, helped by buybacks that...


Strong weekend for the New Zealand dollar
The New Zealand dollar had a strong weekend, gaining on the major trading currencies and rising to its highest level in more than two months against the Australian dollar. By 8am Monday the kiwi...


Gold advances after sell-off but bear mood stays
TOKYO, Aug 18 (Reuters) - Gold advanced on short-covering on Monday after a plunge last week, but continuing weakness in energy prices and a strengthening dollar are expected to cap gains in the...


Greenback strength puts Asian currencies in focus
HONG KONG (MarketWatch) -- Currency moves are likely to remain in focus this week after the U.S. dollar's recent rebound has caught many investors off...


Cost-conscious banks raise fees for paid services
The largest private sector lender ICICI Bank and public sector lender Bank of India (BoI) have already raised the rates for many of these products while others are expected to follow soon. Fees...


Mahindra Financial Services to hike lending rates by 0.5 pc
NEW DELHI: Mahindra & Mahindra group's non- banking finance firm is planning to increase lending rates by 0.50 per cent within next one month following RBI's tight monetary policies that has made...


Asian stock markets mixed as falling commodity prices weigh on resource sector
Jeremiah Marquez August 15, 2008 - 06:23 a.m. HONG KONG (AP) - Asian markets were mixed Friday as falling commodity prices hurt resource stocks across the region, while a strengthening dollar...


Shanghai, Tokyo rise, but end with weekly losses
HONG KONG (MarketWatch) -- Asian markets ended mixed Friday, with resource stocks such as BHP Billiton and Cnooc dropping on a sharp retreat in commodity prices, while exporters and shipping stocks...


48 SE Asian Stocks-Lower as oil slips, Vietnam at mth-high
SINGAPORE, Aug 15 (Reuters) - Most Southeast Asian stock markets edged lower on Friday as receding oil prices pulled back resource shares, but Thai energy and telecom shares rose on an upbeat...


Home loan borrowers look panic-stricken now
NEW DELHI: The fear is palpable. Indian home loan borrowers, who till recently were fuelling a growth story across banking, real estate and other allied sectors, look panic-stricken now. In fact,...


FOREX-Dollar posts 5th weekly gain verus euro
NEW YORK, Aug 15 (Reuters) - The U.S. dollar jumped to a six-month high against the euro on Friday, buoyed by another drop in oil prices and growing views the U.S. economic slowdown may be...