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market review : asia jump in exports was above the consensus

Nikkei 225 Average rallied 131.47 points
to 9,603.14, a rise of 1.4% on Monday.
Hang Seng Index also gained 221.41
points, 1% higher to 22,340.84.
Meanwhile, Shanghai Stock Exchange
returned after a long vacancy and scored
a 1.41% gains to 2,627.97. US stocks gains
on Friday provided the catalyst for the
gains in Asia.
Japan’s adjusted trade balance edged
lower from ¥594.8 billion in July to ¥589.7
billion in August. Despite it’s a lower
reading, it came up above the consensus
reading of ¥522.1 billion. In unadjusted
terms, trade balance fell sharply from
¥802.0 billion to ¥103.2 billion, lower than
the consensus of ¥200 billion. Year-on-
year, exports rose 15.8% in August,
slowing down from 23.5% in July, and
below the expected rise of 19%. Imports
gathered pace from 15.7% to 17.9%,
faster than the expected rise of 17.5%.
and owed itself to the strong demand
from Asia.
Nissan Motor announced its
plan to show a new concept
of electric car on September
th
30 in Paris. The automaker settled at
¥715, gaining 2.4%.
Cheung Kong Holdings had its price target
raised to HK$130 from HK$115 by Morgan
Stanley. Cheung Kong
settled at HK$115.60, up
2.21%.
Daiwa raised Wharf’s price target to
HK$58.25 from HK$50.30. Wharf fell to
HK$50.40, down 1.18% by the end of the
day.
Disclaimer: This report is provided for information purposes
only. It is not an offer to sell or to buy any securities. This
report has been prepared based on sources believed to be
reliable, but there is no assurance or guarantee regarding its
completeness & and accuracy. The author accepts no
responsibility or liability arising from any use of the report.

Among destination countries, exports to

China slowed from 22.7% in July to 18.5%,
exports to US slowed rapidly from 25.9%
in July to 8.8% in August. Exports to
Europe rose 13.7%.

In Hong Kong, the

government
reported that the
City’s August
exports climbed
36% to HK$290.1 billion, faster than July’s
rise of 23.3%. Imports increased 28.4%
from last year. This brought the trade
balance to a deficit of HK$11.9 billion. The

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27 September 2010 Page 1