Latest News In Stock Market Investment Research – Dec 25, 2009

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25 Dec 2009 at 12:46am

HONG KONG (MarketWatch) – Asian markets ended mixed in narrow-range trade Friday, with export-related stocks in Japan under pressure as the yen strengthened, while mid-sized banks were among weak performers in Shanghai. Brokers around the region noted lackluster trade and thinner volumes with foreign participation limited on the Christmas holiday. The benchmark Nikkei 225 Average ended 0.4% lower at 10,494.71, and the more inclusive Topix lost 0.3% to 911.41. The Shanghai Composite Index closed 0.4% lower, Taiwan’s Taiex added 0.1% to close at an 18-month high, while Thailand’s SET Index was up 0.3% in late trade. Major markets elsewhere in the region were closed for Christmas Day. The dollar was buying 91.43 yen in late Tokyo, down from 91.65 at midday in New York Thursday. Among export-related stocks in Tokyo, Canon Inc. fell 1.7% and Toyota Motor Corp. edged 1% lower. Financials trading weaker in Shanghai included Shanghai Pudong Development Bank Co. , which fell 1.6%, while China Merchants Bank Co. lost 1.7%. Dow Jones Newswires quoted Capital Securities analyst Jacky Zhang as saying “concerns that banks still need funds to supplement capital-adequacy ratios and inadequate market liquidity by the year-end [would] continue to trigger mild selling.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Japan lower as tech exporters, banks, fall

24 Dec 2009 at 7:50pm

HONG KONG (MarketWatch) — Japanese stock indexes ended the morning session lower Friday, as a modest gain in the yen versus the U.S. dollar prompted selling in tech exporters, drawing back some of the gains seen in the sector during the previous session. The benchmark Nikkei 225 Average fell 0.2% to 10,515.20, and the more inclusive Topix lost 0.3% to 911.41. The dollar was
buying 91.41 yen in late morning trade in Tokyo, down from 91.65 at midday in New York. Canon Inc.’s shares lost 1.7% of their value, while Hitachi Corp. was down 0.4%, and Panasonic Corp. fell 1.4%. Toyota Motor Corp. also lost ground, down 0.5%, a day after a Nikkei business news report saying it will recall over 43,000 cars sold in China due to possible oil leaks. Banking stocks were also under pressure, with Mitsubishi UFJ Financial Group down 1.1% and Mizuho Financial Group losing 2.3%. Tokyo’s stock market was one of the few open for trade Friday, with bourses in Australia, Hong Kong, India, Singapore and South Korea, among others, closed for Christmas Day.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Shanghai shares down, with mid-size banks weaker

24 Dec 2009 at 7:46pm

LOS ANGELES (MarketWatch) — Shanghai stocks moved slightly lower Friday morning in lackluster trade and with most other major markets closed for holidays. The Shanghai Composite fell 0.4% to 3,141.58, with many of the mid-sized banks weaker on capital-raising concerns. By late morning, Shanghai Pudong Development Bank Co. was down 1.4%, China Merchants Bank Co. lost 1.7%, and Industrial Bank Co. fell by 1.5%. Dow Jones Newswires quoted Capital Securities analyst Jacky Zhang as saying “concerns that banks still need funds to supplement capital adequacy ratios and inadequate market liquidity by the year-end [would]continue to trigger mild selling.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


China hikes 2008 gross domestic product total

24 Dec 2009 at 7:30pm

LOS ANGELES (MarketWatch) — China’s government said Friday it has raised the value of its 2008 gross domestic product by 4.5% to 31.405 trillion yuan ($4.6 trillion) from its earlier estimate of 30.067 trillion, Dow Jones Newswires reported, citing the National Bureau of Statistics. The bureau gave the revision after carrying out its second economic census, it said. The report didn’t indicate how the revision would affect the nation’s year-on-year economic growth rate for the current year, which would have to be revised lower unless 2009 GDP was also higher than previously reported.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Toyota shares fall in wake of reported recall plan

24 Dec 2009 at 6:23pm

LOS ANGELES (MarketWatch) — Shares of Toyota Motor Corp. fell 0.8% to 3,860 yen ($41.17) in Friday morning trade in Tokyo, a day after a report its Chinese unit plans to recall just over 43,000 vehicles. The recall will begin Dec. 30 and cover the Lexus ES350, Lexus RX350, Highlander sports utility vehicle and Previa minivan, which are said to be at risk for engine-oil leaks, according to a Nikkei report cited by Dow Jones Newswires. However, Dow Jones also said that the recall is relatively small, accounting for just 0.6% of Toyota’s projected global annual sales.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Japanese shares head lower, as tech exporters fall

24 Dec 2009 at 5:19pm

LOS ANGELES (MarketWatch) — Japanese stock indexes fell in the early minutes of Friday trade after a slightly positive open, with tech exporters giving back some of their gains from the previous session, helped lower by a rise in the yen. The benchmark Nikkei 225 Average fell 0.4% to 10,492.1, and the broader Topix lost 0.3% to 910.6. Canon Inc. lost 1.2% of its value, while Hitachi Corp. was down 1.1%, and Panasonic Corp. fell 0.8%. Toyota Motor Corp. also lost ground, down 0.8%, a day after a Nikkei business news report saying it will recall over 43,000 cars sold in China due to possible oil leaks. Tokyo’s stock market was one of the few open for trade Friday, with bourses in Australia, Hong Kong, India, Singapore and South Korea, among others, closed for Christmas Day.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Japan unemployment up, deflation grows in November

24 Dec 2009 at 4:54pm

LOS ANGELES (MarketWatch) — Japanese November data released Friday painted a mostly dim picture of the economy, with unemployment gaining slightly and deflation rising, albeit in line with expectations. Japan’s unemployment rate rose to a seasonally adjusted 5.2% last month, from 5.1% in October, according to the Internal Affairs Ministry’s Statistics Bureau. The result, which matched separate forecasts from analyst surveys by Dow Jones Newswires and Kyodo News, was still below the peak of 5.8% recorded in July. November’s core consumer price index — which excludes volatile fresh-food prices — dropped 1.7% from a year earlier, also in line with forecasts but marking the ninth straight fall. Month on month, the core CPI was down 0.2%. Stripping out all food and energy prices, the CPI was down 1% from a year earlier and down 0.1% from October.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


U.S. stocks close at new 2009 highs; rise for week

24 Dec 2009 at 11:14am

SAN FRANCISCO (MarketWatch) — The major U.S. stock benchmarks ended Thursday’s shortened trading day with a fifth straight session of gains, and at the highest closing levels of the year, lifted by a deeper drop in initial jobless claims and rising metals prices. The S&P 500 ended the day with a 0.5% gain and the trading week with a 2.18% advance. The Dow Jones Industrial Average gained 0.5% for the day and 1.85% for the week. The Nasdaq Composite gained 0.7% for the day and 3.35% for the week. Markets closed early Thursday ahead of Friday’s Christmas holiday, when trading will also be shuttered.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Qualcomm COO Lauer resigns to accept new job

24 Dec 2009 at 11:10am

LOS ANGELES (MarketWatch) — Wireless technologies developer Qualcomm Inc. said Thursday that Chief Operating Officer Len Lauer has resigned to accept the role of chief executive officer at another, unnamed company. Qualcomm said as a result of the change, its MEMS Technologies group will report to Steve Mollenkopf, president of Qualcomm CDMA Technologies.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Natural gas erases gains after EIA data

24 Dec 2009 at 8:33am

NEW YORK (MarketWatch) — Natural-gas futures erased their earlier gains Thursday, heading lower as the Energy Information Administration data showed a smaller-than-expected drop in U.S. inventories last week. Natural gas stockpiles fell 166 billion cubic feet in the week ended Dec. 18, the EIA said. Analysts surveyed by Dow Jones had expected a drop of more than 170 billion cubic feet. After the data, January natural gas futures lost 0.7% to $5.78 per million British thermal units. It was up more than 1% before the data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Financial stocks dish up some holiday cheer

24 Dec 2009 at 7:57am

NEW YORK (MarketWatch) — U.S. financial stocks delived a little early Christmas cheer to investors Thursday morning, posting modest gains and helping lift the broader market the day before the holiday. American International Group shares led sector gainers, climbing almost 3%. Real estate investment trust Kimco , and regional bank Suntrust rounded out the sector’s gainers. The Financial Select Sector SPDR , an ETF that tracks the S&P 500 financial stocks, added 0.5%. Investors continue to show optimism, and the sentiment that slow but steady economic growth and low inteerst rates will provide a good stock market performance. While unemployment remains high at 10%, the Labor Department reported Thursday that initial jobless claims fell a seasonally adjusted 28,000 to 452,000. Those are the lowest levels since September 2008. Economists were expecting a fall to 470,000 in the week that ended Dec. 19.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Airline stocks gain ground in shortened session

24 Dec 2009 at 7:45am

SAN FRANCISCO (MarketWatch) — Airline stocks rose early in Thursday’s holiday-shortened session, led by 2.5% gain in shares of US Airways Group as oil prices drifted lower. The NYSE Arca Airline Index moved fractionally higher to 34.75 points, with 10 of the benchmark’s 13 components advancing. Shares of Brazil’s Tam SA and Gol Linhas Aereas , a day after leading the group higher, fell about 2% each. Crude for February delivery lost 31 cents, or 0.4%, to $76.36 a barrel in North American electronic trading. It ended Wednesday’s trading at the highest level since Dec. 1.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tech stocks gain ground in quiet session

24 Dec 2009 at 7:43am

SAN FRANCISCO (MarketWatch) — Technology stocks were on the rise Thursday in what was expected to be a quiet trading session in advance of the Christmas holiday. Advancers included Apple Inc. , Cisco Systems Inc. , Microsoft Corp. and Dell Inc. . The Nasdaq Composite Index rose 7 points to 2,276, while the Philadelphia Semiconductor Index and the Morgan Stanley High Tech 35 Index also rose.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


U.S. stocks rise early, helped by labor data

24 Dec 2009 at 7:44am

SAN FRANCISCO (MarketWatch) — U.S. stock indexes opened higher Thursday, supported by early reports that showed U.S. jobless claims in the latest week fell to 452,000 and orders for durable goods, excluding transportation, strengthened last month. S&P 500 rose 3 points to 1,123, led by gains in materials and financials sectors. The Dow Jones Industrial Average gained 24 points to 10,491. The Nasdaq Composite added 7 points to 2,276.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Crude rises on jobless data, weaker dollar

24 Dec 2009 at 7:14am

NEW YORK (MarketWatch) — Crude futures erased earlier gains Thursday, lifted by a better-than-expected weekly jobless claims report and a weaker dollar. Crude for February delivery was last up 0.2% at $76.84 a barrel. It was down slightly earlier in the session.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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December 25 2009 10:39 pm | Stock Market News

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