Reuters Insider - Asia End of Day Market Update March 24, 2015

Tersis Technologies

24/03/2015 12:59

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 Source:             Thomson Reuters                                   
                                                                       
 Description:        An afternoon roundup of Asia market news          
 
 
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Transcript (May be auto-generated)

 Markets fell following disappointing economic data from China. The ongoing debt 
saga of property developer Kaisa continues with shares up 0.6% today after the 
chairman of Sunac China assured investors that a takeover deal could be 
completed. Sunac down 2.3%. Several auto counters making headlines, Great Wall 
Motor climbed 2% following news that the company would focus on developing 
sports utility vehicles after forecast seeing SUV sales gaining ground. Geely 
Volvo Car Group says it's creating three new business regions in the Americas, 
EMEA and Asia. The company says it's planning significant production increases 
and that it's positioning itself for the next stage of global expansion. Shares 
advanced over 1%. 

NexGen Energy a subsidiary of CNOOC is closing its crude oil trading division 
following a round of job cuts we've reported on last week. Shares of the Chinese
energy giant traded 0.75% lower. And China's Zijin Mining spiked over 7% ongoing
talks to buy gold and copper mining assets abroad according to its chairman. 
Hutchison Whampoa is expected to finalize a deal to buy Telefonica's British 
mobile unit, O2, according to a Financial Times report. Owned by China's richest
man, Li Ka-shing, Hutchison is in talks with several sovereign wealth funds in 
China, Singapore and Qatar to provide some of the financing for the $15 billion 
acquisition. And in other Chinese buying overseas news, China's Fosun has its 
eyes on a Belgian financial services group, RHJ International. In a filing, 
Fosun said the RHJI deal would help strengthen its financial capabilities to 
better access other business opportunities in Europe