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Oct 7, 2013

Most Asian markets rose on Monday, with the notable exception of Japan. Hopes of delayed tapering by the US Fed drove gold and oil prices higher, boosting stocks in the sector.

Most Asian markets performed well as investors in the region hope that the US Federal Reserve will delay tapering of its $85 billion a month bond buying program as well as positive reports from Chinese firms. The Shanghai Composite Index climbed 1.9%, on Monday; its biggest gain in two weeks following a statement from the National Bureau of Statistics, saying that the country is on track to reach its growth target of 7.5% for the year.

In Hong Kong, the Hang Seng Index climbed 0.7%. in Seoul the Kospi rose 1%, and in Australia the S&P/ASX 200 finished up slightly, rising 0.2%, while in Tokyo the Nikkei Stock Average fell 0.2%.

Japanese property developers performed well, after a local newspaper reported that the housing market was beginning to strengthen due to the benefits of government stimulus and housing purchases before the consumption tax rises in April. Both Mitsui Fudosan Co. and Mitsubishi Estate Co. rose 1%.

The delay of tapering by the US Federal Reserve drove oil and gold futures higher, which in turn boosted stocks in the resource sector. In Australia Gold mining giant Newcrest Mining Ltd. climbed 4.9% and Kingsgate Consolidated Ltd. soared 6%. In Seoul, Korea Zinc Co. took 5.3%, and Zinjin Mining Group Co. gained 2.4% in Shanghai and 1.6% in Hong Kong. Oil refiner China Petroleum & Chemical Corp. rose 1.9% and 1.6% in Hong Kong and Shanghai respectively, following the report of a 24% increase in first half of the year profits.

Lender China Construction Bank Corp. picked up 0.9% in Shanghai and 0.7% in Hong Kong after reporting a 13% rise in first half of the year profits.

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Posted: Monday October 7, 2013, 7:55 pm
Tags: group china in the region after contact positive lexington leads reports gains thelexingtongroup.com 81345209601 [add/edit tags]

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LEXINGTON'S SHARES
Oct
25
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\nAnalysts at The Lexington Group think that the tech sector will outperform the overall market for the rest of the year.  They are recommending Apple, IBM, Qualcomm, and Seagate.\r\nAnalysts at The Lexington Group believe that technology sector is ...
Oct
17
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\nLast year The Lexington Group invested in a number of American air carriers, which paid off as the sector has significantly outperformed the S&P 500, they expect the trend to continue and for the share prices to keep rising.\r\nIn December of 2012 ...
Oct
14
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\nOCI Resource’s IPO is expected to hit the market by the end of the week and analysts at The Lexington Group are giving it a buy rating.  The company has a strong customer base, experienced management, and substantial mineral reserves.\r\nOCI...
Oct
11
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\nAnalysts at The Lexington Group predict gold to rally strongly in the second half of 2013. Citing a variety of factors including military intervention in the Middle East, quantitative easing, and increased consumption.\r\nGold has been one of the worst...


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