Reply #10: EastAsia Markets

[Ghost Dog]

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Asian Stocks Rise on U.S. Financing Plan; Toyota Leads Advance

Dec. 7 (Bloomberg) -- Asian stocks rose, set for a second weekly gain, after the U.S. government announced plans to limit defaults on subprime mortgages and commodity prices climbed.

Toyota Motor Corp., which gets about a third of its sales from North America, led exporters higher on speculation a U.S. proposal to freeze interest rates on some home loans will ease a housing slump and boost consumer spending in the world's biggest economy. PetroChina Co. and Mitsui & Co. gained after oil and copper prices advanced.

``Investors expect that governments are going to deal with the various market problems,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo. ``Rising prices for commodities like oil and copper are certainly a boon for trading houses and metals producers.''

/... http://www.bloomberg.com/apps/news?pid=20601080&sid=a6J8yQB2qhTs&refer=asia
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Japan stocks hit 1-mth closing high, exporters up

TOKYO, Dec 7 (Reuters) - Japanese stocks hit a fresh one-month closing high on Friday, propelled by a weaker yen and buying of exporters such as Toyota Motor Co (7203.T: Quote, Profile, Research) amid an easing of fears about the health of the U.S. economy. Steel firms, construction and real estate also did well, among the majority of sectors rising on short covering by day traders, who provided most of Tokyo's market activity.

...

"Positive sentiment in the rest of Asia, especially China, didn't have a direct impact on Tokyo, but the sentiment appears to have provided a bit of a boost all the same," said Masayoshi Yano, senior manager of investment information at Tokai Tokyo Securities.

MSCI's index of other Asia Pacific stocks .MIAPJ0000PUS was up 0.4 percent at 0636 GMT. A late wave of profit-taking sales ate away much of the benchmark Nikkei's .N225 gains for the day, though it still finished up 0.5 percent at 15,956.37, its highest close since Nov. 7. Earlier it rose as high as 16,107.65, a gain of more than 200 points.

The broader TOPIX index gained 0.6 percent to 1,561.76, also a one-month high. It earlier touched 1,578.39.

EXPORTERS, STEEL SOLID

The dollar gained slightly against the yen during Asian trade and was hovering near 111.32 yen <JPY=>. It neared a three-week high of 111.47 yen hit the previous day.

With a lack of other active trading factors ahead of the jobs data, the market zeroed in on currencies, giving exporters a boost until the profit-taking trimmed their gains.

Toyota, one of the key supporting stocks on the Nikkei 225, closed up 1.6 percent at 6,340 yen, with other car makers not far behind.

/... http://www.reuters.com/article/marketsNews/idCAT19872820071207?rpc=44&sp=true
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HK shares fall 2.4 pct, but China Railway jumps

HONG KONG, Dec 7 (Reuters) - Hong Kong stocks fell on Friday
as investors cashed in after the market rose for seven straight
sessions, but new issue China Railway Group 0390.HK jumped on
its first day of trade, reversing a slump in recent IPOs.

China Railway closed at HK$7.36, up 27 percent from its
offer price of HK$5.78.

The benchmark Hang Seng Index .HSI closed down 2.42 percent
at 28,842.47 as caution set in ahead of a U.S. employment report.

The China Enterprises index of H shares , or Hong
Kong-listed shares in mainland companies, fell 0.96 percent to
17,619.03.

/. http://www.reuters.com/article/marketsNews/idCAHKF07876320071207?rpc=611
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China Stocks Rise, Posting Biggest Weekly Gain in Three Months

Dec. 7 (Bloomberg) -- China's stocks rose, with the CSI 300 Index completing its biggest weekly gain in more than three months. Citic Securities Co. led brokerages higher on expectations the share market's rally will boost broking business.

``Chinese brokerages are proxy to the domestic market, which we have a long-term bull view on,'' said Zhang Qi, an analyst at Haitong Securities Co. in Shanghai.

Power suppliers including Huaneng Power International Inc. advanced on expectations they will raise electricity rates.

The CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, gained 70.29, or 1.4 percent, to 5,041.35 at the close. The measure rose 6.4 percent this week, the most since the five-day period ended Aug. 24.

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The China Electricity Council, which represents the nation's power producers, submitted a proposal to the National Development and Reform Commission at the end of last month, it said.

China Railway Group Ltd., the world's third-largest construction company, added 0.09 yuan, or 1.1 percent, to 8.44. Its Hong Kong-listed shares jumped as much as 30 percent to HK$7.50 on the first day of trading today after raising HK$19.2 billion ($2.5 billion) in its overseas stock sales.

Shanghai Zhenhua Port Machinery Co., the world's biggest maker of container cranes, gained 0.73 yuan, or 3.2 percent, to 23.90 after receiving a $200 million contract from Taipei Port Container Terminal Corp. The company will deliver the cranes by 2009, Zhenhua said in a statement to Shanghai's stock exchange.

The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, rose 1.1 percent to 5,091.75. The Shenzhen Composite Index gained 1.6 percent to 1,318.56.

/... http://www.bloomberg.com/apps/news?pid=20601089&sid=aH00biz3V92M&refer=china
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