Asian markets fell yesterday as investors remained sceptical and worried the deteriorating economy would not receive immediate help from the US stimulus plan. Tokyo stocks dropped 3%, led mostly by banks and exporters, as trading resumed after a holiday. Hong Kong's Hang Seng Index fell 2.3%, while Shanghai Composite lost 0.6%. The major indexes in Asia are likely to remain on a downward trend today.
Today the major indexes in Asia have been hit by the unfavourable news from the US. Asian share markets ended mixed yesterday indexes moved up and down in a narrow range. Shanghai continued its rally over government stimulus measures with a rise of 1.8 percent, and also led the Hong Kong shares up 0.8 percent. Tokyo and Seoul markets closed slightly lower as market was weighed down by the worries over the US rescue plan.
Most Asian markets were hammered Monday over the concerns that the global recession is deepening. Hong Kong shares plunged sharply, even as mainland-Chinese shares gained after the Chinese New Year holidays. In Tokyo, some of Japan's biggest industrial companies fell to multiyear lows. China's Shanghai Composite contrasted other major indexes with 1 per cent surge as agricultural sector was strengthened after the Chinese government announced measures to prevent grain production from falling.
Seoul shares rose on Wednesday after a holiday weekend, led by chip makers after German rival Qimonda filed for insolvency. The market is also lifted by overnight gains on Wall Street and big gains in Tokyo shares Tuesday. Japanese stocks gained nearly 5% yesterday as exporters benefited from a weakened yen. Markets that remained closed for the Lunar New Year included Hong Kong, South Korea, China, Singapore and Taiwan.
Hanjin Shipping (SEO:000700) is pleased to announce the opening of the Euromax Terminal in Rotterdam, Netherlands that took place on September 5th, 2008.
A wholly-owned subsidiary of Qatar Gas Transport Company "NAKILAT" (DOH:QGTS) will enter the first fifteen of its wholly owned LNG vessels with the two largest P&I clubs in the world - Assuranceforeningen Gard and the UK P&I Club. The announcement marks the conclusion of a detailed selection process culminating in a closed bid competitive tender by a shortlist of international P&I clubs.
Abu Dhabi Ship Building (ABD:ADSB), the Arabian Gulf's only specialised naval warship builder, has been awarded the "Al Saber" Project, a multi million dollar contract to build 12 patrol boats for the UAE Coastguard.
