ASF Group Limited (ASX:AFA) said today that its wholly owned entity ASF Energy has entered into an agreement with Shanghai Time Shipping Co Ltd for the supply of coal for shipment to China. Shanghai Time is an associate company of China Huaneng Group Ltd, one of China's largest power conglomerates.
The encouraging Asia and US economic news overnight gave a strong lift to Wall Street. The Australian shares delivered a firm opening on Friday and the market is expecting more upbeat data from China today.
Samsung Heavy Industries Co. (SEO:010140), the world's second-largest shipbuilder, has received a KRW1.32 trillion order to build a floating natural-gas facility for Royal Dutch Shell Plc (LON:RDSA), said South Korea's Yonhap news agency. Samsung Heavy and Technip SA, a French oil and gas producer, will design, construct and install multiple floating liquefied natural gas (LNG) facilities.
Asian markets mostly gained on Friday. Japan's Nikkei was 0.2 per cent higher on upbeat industrial output data. Hong Kong's Hang Seng Index rose 1.0 per cent, while South Korea's Kospi added 0.5 per cent. China's Shanghai Composite Friday fell 0.3 per cent. Today metal and resource shares in the regional markets may face pressure after the massive earthquake that hit Chile.
Most Asian markets rallied with resources shares significantly higher on Monday. Japan's Nikkei jumped 2.7 per cent while exporters were encouraged by stronger US dollar against yen. Hong Kong's Hang Seng Index gained 2.4 per cent. The Shanghai bourse reopened for the first day after the Lunar New Year holiday, Shanghai Composite dropped 0.5 per cent as the market was still impacted by the People's Bank of China's credit-tightening measures unveiled before the long holiday.
Most Asian markets fell Thursday as investors took profit from recent rallies. Resources shares declined across the region after news that International Monetary Fund plans to sell 191.3 metric tons of gold on open markets. Hong Kong's Hang Seng Index lost 0.5 per cent and South Korea's Kospi fell 0.4 per cent. However, Japan's Nikkei stock average rose 0.3 per cent while the Bank of Japan left its interest rate at 0.1%. China, Taiwan and Vietnam markets remained closing on Friday.
Asian markets closed mostly higher on Wednesday as materials shares were boosted by strong commodities prices. Japan's Nikkei average rose 0.3 percent as exporters gained on strong U.S. data and weakness in yen against greenback. But the rises were pulled back by a drop in shares of Toyota Motor Corp after its recall woes hit its sales. South Korea's Kospi added 1.2%, Hong Kong's Hang Seng Index rose 2.2% and China's Shanghai Composite gained 2.4%.
