Reuters Insider - Asia End of Day Market Update January 13, 2015
13/01/2015 19:34
Click the following link to watch video:
https://insider.thomsonreuters.com/link.html?cn=share&cid=1356012&shareToken=MzoyOWM4MDBmYy03ODJjLTQ0M2EtOGIxYi04YmNiZjlkNmQ5NGU%3D&playerName=ReutersNews
Source: Thomson Reuters
Description: An afternoon roundup of Asian market news
(To access all exclusive Reuters Insider programming visit: http://insider.thomsonreuters.com)
Short Link: http://reut.rs/1DDkow7
Transcript (May be auto-generated)
The Citi's shares rising on stronger than expected Chinese trade data; the Hang
Seng rose 0.8%; and the enterprises underperformed the main, up 0.4%. Casino and
telecom stocks gaining the most today. China Mobile received an upgrade to 'buy'
from 'hold' from Jefferies driven by 4G user expansion. Significant improvements
in user experience also contributing to the rise in ratings; shares up over 2%.
China Unicom nearly doubling that today. And gaming stocks, Galaxy Entertainment
and Belle International each advanced 2.7% and 2.3% a piece. SJM Holdings up
2.6%. The Chairman's nephew, Alan Ho, who's an executive at one of his hotel
properties, was arrested in connection with the prostitution ring. Five other
hotel staffs were taken into custody and 96 women from the Mainland and Vietnam
were detained.
The MTR Corporation received stable outlook ratings by Fitch. Shares of the rail
transit operator rose nearly 2%. Hong Kong cosmetic retailer Sasa leading a fall
in retail after the company reported a loss compared to the previous month.
Shares down 5.7%. The company says sales at home and in Macau fell in the third
quarter as Chinese tourists looked for cheaper products elsewhere. Smaller rival
Bonjour Holdings fell 2.4%, and luxury Retailer Emperor Watch & Jewellery is
1.3% lower. Bonds issued by Kaisa Group rose sharply after the property
developer said it's received a waiver from HSBC on the loan it failed to repay.
Kaisa has been struggling with the departure of senior executives, stalled
projects, in addition to a missed payment on bonds. Investors are watching
carefully as it could be the first case of a Chinese company defaulting on an
offshore US Dollar bond