View in Other Languages 12月16日亚洲股市纵览 12月16日亞洲股市縱覽 アジア市場レポート:12月16日 12월16일 아시아 시장동향 Asian Markets Overview of December 16 نظـرة عـامة على الأسـواق الآسيـويـة في 16 كانون الأول /ديسمبر 
Brazilian miner MMX Mineracao e Metalicos SA(SAO:MMXM3) expects to pay off US$600 million of debt next year. The payment would be made from the US$400 million MMX stake purchased by China's Wuhan Iron & Steel Group ( SHA:600005). Last month MMX sold a 22 percent equity stake in the company to Wuhan Iron and Steel Co. MMX would raise a further $250 million in 2010 from a share subscription involving its minority shareholders. After debt reduction the company could seek more credit from new sources, such as the China Development Bank, said MMX President Roger Downey. The company will invest up to US$1.2 billion to more than triple iron ore production capacity by 2015.
Brazilian miner MMX Mineracao e Metalicos SA(SAO:MMXM3) expects to pay off US$600 million of debt next year. The payment would be made from the US$400 million MMX stake purchased by China's Wuhan Iron & Steel Group ( SHA:600005). Last month MMX sold a 22 percent equity stake in the company to Wuhan Iron and Steel Co. MMX would raise a further $250 million in 2010 from a share subscription involving its minority shareholders. After debt reduction the company could seek more credit from new sources, such as the China Development Bank, said MMX President Roger Downey. The company will invest up to US$1.2 billion to more than triple iron ore production capacity by 2015.

Sydney, Dec 16, 2009 AEST (ABN Newswire) - Wall Street broke the four-day run of gains overnight as a higher-than-expected US Producer Price Index in November raised concerns on inflation. Asian markets ended mixed Tuesday. China's Shanghai Composite and Hong Kong's Hang Seng Index fell after China's State Council said it plans to cool the rapidly rising residential property prices in some cities.

Today Japanese exporters are expected to rise on a weaker yen, but the US inflation concern may limit gains of Tokyo stocks. In Australia, gross domestic product (GDP) data due out today is widely anticipated to show a growth in the nation's economy.

Company News

Japanese chipmakers Renesas Technology Corp. and NEC Electronics Corp. (TYO:6723) said they will aim to make a net profit in the second year of their planned merger by cutting costs and boosting overseas sales. The two companies have signed an agreement that one Renesas common share will be exchanged for 20.5 NEC Electronics shares. The new company, to be named Renesas Electronics Corp., will be the world's third-largest semiconductor maker after Intel Corp. (NASDAQ:INTC) of United States and Samsung Electronics Co.(SEO:005930) of South Korea. The two Japanese companies aim to boost their combined overseas sales share from 44 percent to 60 percent by tapping into China and other emerging markets and expanding sales of chips for green products like smart grids and eco-cars.

Japan's Aeon Co. (TYO:8267) said it will move back into the black at the February end of its current business year, pushed by earnings in its operations covering China and Southeast Asia. The president of the company said profits made in overseas operations are likely soon to exceed those from domestic businesses. In the previous year, Aeon posted a group net loss of 2.7 billion yen.

Brazilian miner MMX Mineracao e Metalicos SA(SAO:MMXM3) expects to pay off US$600 million of debt next year. The payment would be made from the US$400 million MMX stake purchased by China's Wuhan Iron & Steel Group (SHA:600005). Last month MMX sold a 22 percent equity stake in the company to Wuhan Iron and Steel Co. MMX would raise a further $250 million in 2010 from a share subscription involving its minority shareholders. After debt reduction the company could seek more credit from new sources, such as the China Development Bank, said MMX President Roger Downey. The company will invest up to US$1.2 billion to more than triple iron ore production capacity by 2015.

Tingyi (Cayman Island) Holding Corp.(HKG:0322), China's largest instant noodle and ready-to-drink tea maker by market share, says it expects a strong revenue growth and higher capital spending next year, benefit from the country's increasing urbanization. Its instant noodles business will grow one and a half to two times faster than China's gross domestic product next year, assuming an 8 per cent growth in GDP. The company's beverages business will grow three to four times as fast as GDP.

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