Shinsei Bank Ltd.
TYO:8303 ISIN:JP3729000004
Shinsei Bank, Limited (the Bank) is a Japan-based financial institution. The Bank operates mainly in three business segments. The Banking segment provides savings accounts services, foreign currency products and loan services, merger and acquisition services, investment, domestic and foreign exchange services, corporate revival services, debt guarantee services and securities trading services, among others. The Securities segment is involved in activities that include securitization and debt underwriting and sale through its domestic consolidated subsidiaries. The Fiduciary segment provides products that encompass monetary claim trusts, securities trusts and fund trusts through its domestic consolidated subsidiary such as Shinsei Trust & Banking Co., Ltd. In addition, Shinsei Bank provides investment trust management and consultation services, credit collection services and others. The Bank completed the acquisition of GE Consumer Finance Co., Ltd. on September 22, 2008.
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Asian markets are set to deliver a positive start on Wednesday. US stocks rose to a fresh 17-month high overnight as the US Federal Reserve acknowledged the U.S. economy was gaining momentum and reiterated that the central bank will keep interest rates low for an extended period. Yesterday Asian shares closed mixed ahead of Federal Reserve and Bank of Japan's policy meetings. Japan's Nikkei 225 fell 0.3 per cent after three-day gains; however, China's Shanghai Composite rebounded from falls in previous two sessions. Hong Kong market shed 0.3 per cent as coal mining shares were hurt by China Shenhua's disappointing earnings.
In Asia, China's unexpected announcement that it will increase the reserve-requirement ratio would fuel worries over the global economy recovery, but thin trading is expected today as most markets including mainland China, Hong Kong, Taiwan, Vietnam, South Korea and Singapore will be closed for Lunar New Year holiday. Japan's exporters will be supported by weaker yen. Japan's gross domestic product data, released by the Cabinet Office on Monday, showed that the country's economy grew at a faster than expected pace in the October-December quarter.
Asian markets ended mixed Tuesday as and financial stocks gained but property developers lost ground on a weak outlook for prices.
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