Dow was up tracking shares of financial sector after reports that JP Morgan recorded net profit in the period of January-February 2009, like Citigroup Inc said the day before. Dow's increase was relatively slight on decline in energy sector's shares after fuel price decline.
In Asia Pacific, the stock markets were mixed in the morning trading on Thursday (12/3) as Japan's Nikkei 225 index at 09:46 local time dropped 33.46 points (0.46%) at 7,342.66, South Korea's Kospi Index at 09:46 Seoul time rose 4.60 points (0.41%) at 1,132.15 and Australia's All Ordinaries Index at 12:04 local time stepped up 0.40 point (0.01%) at 3,199.50. (yan)
Rupiah Strengthens 15 Points at IDR11,975
Dow Climbs 3.91 Points at 6,930.40
Thursday, 12 March 2009 08:54:50
| | Rupiah Strengthens 15 Points at IDR11,975Friday, 13 March 2009 17:45:23StockWatch (Jakarta) - Rupiah strengthened by 15 points versus the US dollar at the Jakarta interbank spot market today (Friday 13/3) at IDR11,975 compared to Thursday's (12/3) closing at IDR11,990. A foreign currency dealer at a private bank in Jakarta said rupiah appreciation was triggered by positive activities in the stock market and profit taking of the US dollar. "Weekend factor caused profit taking in the currency market," the dealer said. He said rupiah is likely to weaken at IDR11,900-12,050 next week as investors will sell rupiah to anticipate general election campaigns. Yet, rupiah was mixed against the other foreign currencies and the rate versus the Singapore dollar appreciated at IDR7,787.74 from 7,847.30, but the rate versus the Hong Kong dollar appreciated at IDR1,546.33 from 1,549.46, the rate versus the Australian dollar weakened at IDR7,890.62 from 7,748.47 and the rate versus the euro depreciated at IDR15,477 from 15,355.78. (konrad/bw) |
US Dollar Takes Bearish Turn Lower - US Retail Sales Could Impact Risk Trends on Thursday
Wednesday, 11 March 2009 21:09:22 GMT
| Yen Gains as Chinese Exports SlumpMarch 11th, 2009
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Japan Oct-Dec Revised Real GDP -3.2% Q/Q; Prelim -3.3%
Wednesday, 11 March 2009 21:09:22 GMT
Japan Oct-Dec Revised Real GDP -3.2% Q/Q; Prelim -3.3%
The headline figures were slightly better than the original estimates made a month ago of a 3.3% on-quarter fall, or an annualized 12.7% contraction. Economists surveyed by Dow Jones Newswires and The Nikkei had forecast on average that the revised GDP data would show a contraction of 3.4% on quarter, or 12.8% on an annualized basis. Capital spending was revised down to a decrease of 5.4% on quarter from a preliminary 5.3% fall, reflecting recent data that showed capital expenditure had fallen even more sharply than calculated for the preliminary GDP data. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=spB5WUB17Tc0FESf0UIG8A%3D%3D. You can use this link on the day this article is published and the following day. | Korean Won Rises as Asian Stocks GainMarch 10th, 2009
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The South Korean won rose for the third day against the U.S. dollar today as some Asian stock markets showed the growth and the high-yielding currencies were favored by the traders.ECB might cut rates again, but not for much longer
| by Angelo Airaghi [Guest Analyst] 3/9/2009 |
| As the economic crisis is worsening in the U.S., another government’s intervention might be implemented. In Europe, in the mean time, the European Central Bank (ECB) could cut rates again, if the economic growth will not pick up in the coming months. However, the downtrend in interest rates appears to be getting closer to an end for Europe. |
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| Economic numbers are worsening in the U.S. The economic picture is deteriorating further in the United States, as unemployment is slumping into record lows and major U.S. industries are still struggling to remain above water. As a result, the Federal Reserve is expected to keep rates near 0 for most of 2009 and beyond, if growth will not pick up tangibly over the coming months. President Obama, in the mean time, outlined, is manifesto for the next fourth years: more taxation for the rich, a new green economy funded by the government, universal education and free healthcare. Obama’s project will mark an end to more than 20 years of Reagan policy, which started right after interest rates topped near 20% in 1980, and continued throughout the Bush administration. Savings should be the mantra for the future with the help of heavy government’s intervention, especially during hard times like the one we are currently experiencing. In February, the unemployment rate was above expectations and rose to 8.1% from 7.6% in January. Employment felt 651,000 on the top of January 655,000 and December 681,000. February’s decline was broadly based with the service production sector slumping 375,000. | |||||||||||||||||||||||||||||||||||||||||||||||||||
