Sunday, February 24, 2013

Asian Exchanges Note Stylish Performance

Bursa Asia Catat Performa Apik

Monexnews-Asian Exchanges today successfully demonstrated slick performance after last week the index had corrected. Strengthening of the index occurred after Japan managed to avoid criticism from the G20 participants at a meeting last weekend. While Australia is a strong company earnings successfully delivering high level Exchange to new.

The G20 Summit that was held in Moscow, ending with an agreement that achieved the vowed members to refrain to target currency policy in order to achieve profit. As a country with a currency that moves most significantly in Asia, Japan has not given any signals sharp volatility in the exchange rate of its currency. The Yen began to depreciate sharply late last year due to expectations that the new Government will implement monetary policy aggressively.

The u.s. dollar strengthened against the yen in early trade in the market. Currently in Y Y 93.51 93.96 compared to Friday evening in New York. A weakening yen gave the odds on strengthening Japan's stock with the Nikkei recorded up 2.0%. Banking and real estate companies led the strengthening stock: Mitsubishi UFJ Financial Group + 4.3% and real estate company Mitsui Fudosan + 3.6%. Exporter stocks moving up by + 2.5% Honda Motor and Toyota Motor Corp. 's gain of 2.5%.

S&P Australia/ASX 200 rose 0.4%, traded on the new high level four and a half years. The market was helped by a positive earnings. Bluescope Steel, Australia's largest steel producers soared 13.5% decline in the profit after reporting a first half. Performance shares benefited by restructuring including trimming more than 1,800 workers. Bendigo Adelaide Bank & up 3.9% after the release of better earnings than expected while Amcor rose 3.1% after the release of the interim report. Earnings reports are still underway in Australia, with several large companies including BHP Billiton, Woodside Petroleum and QBE Insurance Group. South Korea Kospi up 0.1%.


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Title Post: Asian Exchanges Note Stylish Performance
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Author: Mohammad Zulfi Satriawan

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