Asian share markets mostly fell on Friday as investors' sentiment turned soured after the Wall Street losses overnight. Tokyo stocks fell sharply with the key Nikkei index hitting a fresh four-month intraday low under 9,500. Yen remained strong despite many key currencies were lower against US dollar.
Asian markets received a strong lead from Wall Street and mostly opened higher this morning. But gains were trimmed in Tokyo share market after a stronger yen weighed on Japanese exporters. Meanwhile, concerns over companies' massive capital raising plans continue to dent the local sentiment.
Overnight US stocks finished in a fresh 13-month high as energy and material sectors are boosted after the better-than-expected Japanese economy growth. The market was also inspired as Federal Reserve Chairman Ben Bernanke's said that interest rates would stay low. The US government data showed that retail sales rose 1.4 per cent in October, also exceeding market expectations.
Asian share markets broadly opened in positive territory. Japan's Nikkei was buoyed by the latest data showing that Japan's economy grew 1.2 per cent in July-September from the previous quarter, exceeding market expectations.
On Friday, the US stocks were boosted by the encouraging earnings from major retailers and The Walt Disney Co. A record number of U.S. companies beat earnings expectations in the third quarter. This week a new round of economic data including retail sales, inflation readings and housing starts will be the focus after most corporate results already reported.
Dow Jones Industrial Average edged higher overnight towards the 10,000 points psychological level, helped by a market confidence on corporate earnings of blue chip companies. Energy stocks were also up on the back of a jump in crude oil prices.
Xinyu Hengdeli Holdings Limited ("Xinyu Hengdeli" or the "Company" and its subsidiaries, the "Group"; HKG:3389), a leading enterprise engaged in retail and distribution sales of renowned international watch brands in China, today announces that its wholly-owned subsidiary Taiwan Hengdeli Limited has entered into a purchase agreement with Taiwan Jing Guang Timepiece Holdings Limited, a watch importer and retailer in Taiwan, as well as its major shareholder Lee's Family. Xinyu Hengdeli will acquire 80% of the equity interests of Taiwan Jing Guang Timepiece to further strengthen its retail platform in the Greater China region.
