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Global stock markets soft despite survey showing sharp improvement in US services sector

LONDON — Global stock markets retreated on Monday despite another strong U.S. economic report showing the service sector grew sharply last month.

The Institute for Supply Management’s index of service-sector growth rose to 56.0 points from 52.2 in June, the highest reading since February and above market expectations. Any reading over 50 indicates expansion and the higher the number, the strong the growth.

The findings echoed big gains in a separate survey of the manufacturing sector and offset concerns about a weak jobs report last week.

But with U.S. indexes near record highs, investors were reluctant to buy into stocks any more at a time when the Federal Reserve is getting ready to rein in its monetary stimulus plan.

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by admin on August 5, 2013  •  Permalink
Posted in Asia, Economics, Finance, Market, Stock, US
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Posted by admin on August 5, 2013

https://theasiancenturyreport.wordpress.com/2013/08/05/global-stock-markets-soft-despite-survey-showing-sharp-improvement-in-us-services-sector/

China and US see progress on investment treaty

China and US see progress on investment treaty

The US and China have agreed to restart stalled negotiations on an investment treaty, with Beijing dropping efforts to protect some economic sectors. But talks struck a sour note over China’s handling of Edward Snowden.

For a while it seemed that the project was doomed, but it was revived during this year’s two-day Strategic and Economic Dialogue talks in Washington. The meeting has “paved the way for substantial negotiations” on a bilateral investment treaty, Chinese Commerce Minister Gao Hucheng told reporters.

The move was praised by both nations as a breakthrough. According to US Treasury Secretary Jack Lew, Beijing agreed for the first time to put all areas on the table on a treaty to govern investments. He said the step would “level the playing field” for US businesses seeking to enter the billion-plus market.

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by admin on July 12, 2013  •  Permalink
Posted in Asia, China, Economics, Regulation, Trade, US
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Posted by admin on July 12, 2013

https://theasiancenturyreport.wordpress.com/2013/07/12/china-and-us-see-progress-on-investment-treaty/

GLOBAL MARKETS-Asian stocks edge up, eyes on Portugal, U.S. jobs

GLOBAL MARKETS-Asian stocks edge up, eyes on Portugal, U.S. jobs

SINGAPORE/SYDNEY, July 4 (Reuters) – Asian stocks clawed higher on Thursday but gains were tempered by concerns over political turmoil inPortugal and investor caution ahead of key events including Friday’s U.S. jobs data.

European shares were seen likely to inch higher. Capital Spreads forecast Britain’s FTSE 100 up 12 points, Germany’s DAX rising 19 points and France’s CAC 40 gaining 8 points.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose about 1 percent, recouping a portion of Wednesday’s slide of roughly 2.5 percent.

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by admin on July 4, 2013  •  Permalink
Posted in Asia, Economics, Finance, Market, US
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Posted by admin on July 4, 2013

https://theasiancenturyreport.wordpress.com/2013/07/04/global-markets-asian-stocks-edge-up-eyes-on-portugal-u-s-jobs/

Asia shares slip as focus turns to US jobs release

Asia shares slip as focus turns to US jobs release

HONG KONG—Asian markets slipped Wednesday after taking a lead from Wall Street, with few catalysts driving action ahead of US jobs data, while the dollar eased after breaking 100 yen in New York.

Concerns about Greece returned as creditors pushed its leaders to implement huge cuts agreed as part of a bailout, fuelling fears Athens could be denied much-needed cash.

Tokyo fell 0.31 percent, or 43.18 points, to 14,055.56 with buying on the back of the weakening yen offset by profit-taking after the index posted gains of more than nine percent over the past four sessions.

Hong Kong tumbled 2.48 percent, or 511.34 points, to 20,147.31 and Shanghai was off 0.61 percent, or 12.29 points, at 1,994.27. Chinese and Hong Kong investors have become more nervous about the mainland economy after more manufacturing data showed it was slowing down.

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by admin on July 3, 2013  •  Permalink
Posted in Asia, Economics, Finance, Stock, US
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Posted by admin on July 3, 2013

https://theasiancenturyreport.wordpress.com/2013/07/03/asia-shares-slip-as-focus-turns-to-us-jobs-release/

Goldman Sachs’s Asia President Resigns

Goldman Sachs’s Asia President Resigns

The president of Goldman Sachs Group Inc.’s GS -0.32% Asia operations resigned, the company’s third change in the region’s top management in three years. He will be succeeded by a New York-based investment banker who built his reputation doing deals for U.S. health-care companies.

David Ryan, the 43-year-old president of Goldman Sachs in Asia, excluding Japan, will be succeeded by Ken Hitchner, a longtime Goldman Sachs investment banker. This will be Mr. Hitchner’s first Asia posting.

A person familiar with the company said the appointment of Mr. Hitchner, announced Tuesday, is liable to frustrate the firm’s senior executives in the region. Mr. Hitchner is the second outsider to take a top management role in Asia.

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by admin on July 3, 2013  •  Permalink
Posted in Asia, Business, Finance, US
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Posted by admin on July 3, 2013

https://theasiancenturyreport.wordpress.com/2013/07/03/goldman-sachss-asia-president-resigns/

US Private Equity Invest Heavily In Restructuring Asian Shipping Firms Following Shipping Downturn

US Private Equity Invest Heavily In Restructuring Asian Shipping Firms Following Shipping Downturn

Asia’s shipping industry may have just been hit by the restructuring wave that has already swept Europe and the U.S., but American private equity and investment funds are investing in hopes of riding a recovery from the worst shipping downturn in three decades.

The Asian shipping industry hit hard times in 2007 and 2008, when it splurged on new ships that were delivered just as demand slumped, particularly on once-lucrative oil routes between the Middle East and Asia, according to the Jakarta Globe, an Indonesian newspaper.

That spree sent charter rates down as much as 90 percent, and halved the value of vessels bought at the top of the market, according to data from the maritime consultancy Clarkson Research Services.

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by admin on July 3, 2013  •  Permalink
Posted in Asia, Business, Economics, Finance, Investment, US
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Posted by admin on July 3, 2013

https://theasiancenturyreport.wordpress.com/2013/07/03/us-private-equity-invest-heavily-in-restructuring-asian-shipping-firms-following-shipping-downturn/

The Rule of Law and its Role in Achieving the Chinese Dream: To Be Discussed at China Leaders Forum 2013 on October 1st

The Rule of Law and its Role in Achieving the Chinese Dream: To Be Discussed at China Leaders Forum 2013 on October 1st

The Role of the New Generation of China Amidst China’s Expanding Global Influence

 

China has made an extraordinary journey along the road back to greatness. Hundreds of millions have been lifted out of poverty, hundreds of millions more have joined the new middle class. It is on the verge of reclaiming what it sees as its rightful position in the world. China’s global influence is expanding and within a decade its economy is expected to overtake America’s. The new head of the country, Xi Jinping, has evoked that rise promoting the “Chinese dream” evoking its American equivalent. Mr Xi’s priority will be to keep the economy growing and that means opening up China even more. What will be the role of the Chinese new generation? Will nationalism interfere with the rhetoric of the resurgent nation? Will corruption and official excess be curbed? Will the constitution become more powerful than the party?

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by Innovator on June 5, 2013  •  Permalink
Posted in Asia, Asian conferences, Bank, Business, China, Currency, Economics, Finance, Industry, Investment, Market, Policy, Uncategorized, US
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Posted by Innovator on June 5, 2013

https://theasiancenturyreport.wordpress.com/2013/06/05/the-rule-of-law-and-its-role-in-achieving-the-chinese-dream-to-be-discussed-at-china-leaders-forum-2013-on-october-china-poverty-middle-class-global-influence-economy-ovetake-americas-xi-jinping-chi/

Is U.S. Real Estate Headed Towards a Boom?: To Be Discussed at China Leaders Forum 2013 on October 1st

Is U.S. Real Estate Headed Towards a Boom?: To Be Debated at China Leaders Forum 2013 on October 1st

The Possibility of Chinese Real Estate Developers Moving to the United States

 

One of China’s biggest real estate developers, China Vanke, just announced its entry into the U.S. housing market, partnering with  New York-based Tishman Speyer Properties to build luxury condos in San Francisco. Changing demographics, pent-up demand and limited supply suggest that more housing is needed in the U.S., and savvy consumers are looking for new options in housing and lifestyle. The U.S. can expect to see about 1.3 million households newly formed each year for the next decade, making housing starts at an annual rate of around 900,000 inadequate; in the same way, interest rates for mortgages are very low at this moment. What else do developers from China see in the U.S. market? Is the suggested bubble in Chinese real estate encouraging local developers to move to the U.S.?

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by Innovator on June 4, 2013  •  Permalink
Posted in Asia, Asian conferences, Bank, Business, China, Currency, Economics, Finance, Investment, Market, Policy, Regulation, Uncategorized, US
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Posted by Innovator on June 4, 2013

https://theasiancenturyreport.wordpress.com/2013/06/04/is-u-s-real-estate-headed-towards-a-boom-to-be-discussed-at-china-leaders-forum-2013-on-october-1st-chinas-real-estate-developers-u-s-housing-market-tishman-speyer-properties-condos-san-francisco-h/

Alice in Wonderland Scenario for Foreign Hedge Fund Managers?: To Be Debated at China Leaders Forum 2013 on October 1st

Alice in Wonderland Scenario for Foreign Hedge Fund Managers?: To Be Discussed at China Leaders Forum 2013 on October 1st

Wealthy Chinese investors present a huge opportunity for many of the world’s largest hedge fund managers.

China is targeting to expand hedge fund investing by licensing foreign shops; in fact, the Chinese government has asked the State Administration of Foreign Exchange to approve a US$5 billion quota for the planned qualified domestic limited partner scheme (QDLP), which will permit foreign hedge fund managers to set up domestic sales and marketing offices to raise RMB investment for the group’s offshore funds under management. While there are a number of specific requirements, the ability to boost AUM through

investments from wealthy Chinese investors presents a huge opportunity for many of the world’s largest hedge fund managers. How “excess” returns can be actually obtained in China? Are there best practices that can be transferred to the mainland? Will China’s beaten-down equity markets influence global managers’ decision making?

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by Innovator on May 31, 2013  •  Permalink
Posted in Asia, Asian conferences, Bank, Business, China, Currency, Economics, Finance, Hong Kong, Investment, Market, US
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Posted by Innovator on May 31, 2013

https://theasiancenturyreport.wordpress.com/2013/05/31/alice-in-wonderland-scenario-for-foreign-hedge-fund-managers-china-expand-hedge-fund-investing-licensing-foreign-shops-state-administration-of-foreign-exchange-planned-qualified-domestic-limited-partn/

China’s Shuanghui to Buy World’s Largest Pork Processor

Chinese meat producer Shuanghui International Holdings Ltd. agreed to acquire Smithfield Foods Inc. SFD +24.84% for about $4.7 billion, striking what would be the largest takeover of a U.S. company by a Chinese buyer—should it get past what is likely to be heavy regulatory scrutiny. Shuanghui agreed to pay $34 per share for Smithfield, the world's largest hog farmer and pork processor, marking a 31% premium to Smithfield's Tuesday closing price of $25.97. Including debt, the deal values Smithfield at $7.1 billion.

Chinese meat producer Shuanghui International Holdings Ltd. agreed to acquire Smithfield Foods Inc. for about $4.7 billion.

Dana Mattioli from Chinese meat producer Shuanghui International Holdings Ltd. agreed to acquire Smithfield Foods Inc. for about $4.7 billion, striking what would be the largest takeover of a U.S. company by a Chinese buyer—should it get past what is likely to be heavy regulatory scrutiny.

Shuanghui agreed to pay $34 per share for Smithfield, the world’s largest hog farmer and pork processor, marking a 31% premium to Smithfield’s Tuesday closing price of $25.97. Including debt, the deal values Smithfield at $7.1 billion.

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by Innovator on May 29, 2013  •  Permalink
Posted in Asia, China, US
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Posted by Innovator on May 29, 2013

https://theasiancenturyreport.wordpress.com/2013/05/29/chinas-shuanghui-to-buy-smithfield-foods-port-shineway-cnooc-committee-on-foreign-investment-hillshire-hormel-larry-pope/

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