Overnight the US stocks closed higher on the positive Alcoa earnings and better-than-expected weekly jobless claims and consumer spending. Investors were also encouraged by the US retailers' first same-store sales gains in more than a year.
Sony Corp. (TYO:6758) will sell 90% of its stake held in its main television factory in North America to Taiwan's Hon Hai Precision Industry Co. (TPE:2317) as a part of a plan to restructure its television business.
Casio Computer Co. (TYO:6952), NEC Corp. (TYO:6701) and Hitachi Ltd. (TYO:6501) are in talks to consolidate their mobile phone operations as early as April 2010, industry sources said Friday.
Wall Street posted a fourth day on Friday rise as the US existing home sales data gave investors more confidence that it is the end of the recession. For the week The Dow Jones Industrial Average gained almost 2 per cent, while the Standard & Poor's 500 index added 2.2%.
Korea's Samsung Electronics (SEO:005930) was forecast to account for more than 20 percent of the global handset market for the first time, according to market research firm Strategy Analytics.
US stocks fell overnight ahead of the Federal Reserve's latest decision on monetary policy and guidance on the outlook for recovery from the recession. The market was also weighed down by the worries that the banking sector has yet to fundamentally improve.
Wall Street finished slightly lower overnight after the US stocks hit a fresh high on Friday. Investors locked in profits ahead of economic data due to release this week, including monthly retail sales figures and the Federal Reserve's statement on interest rates and the economy.
