Amid global economic downturn, Malaysia market seems to be doing quite well. It has been informed that many companies are following recommendations made by Prime Minister Najib Razak’s Government.
It has been reported that Japan’s battery giant, Panasonic Corp. is planning to place halt on expansion of its battery manufacturing unit. Due to growing competition with South Korean rivals, Japanese battery manufacturer ‘Panasonic Corp.’ has succumbed to low demand.
Earlier, Panasonic Corp. was planning of investing ¥100 billion at its Suminoe plant located in two different states Osaka and western Japan. Suminoe plant produces lithium-ion batteries which are majorly used in consumer electronics.
Typhoon Nesat closed entire working of financial markets in Hong Kong on September 29. However, chances seem higher that the companies, including Angang Steel, HSBC and Lenovo Group could face or forced to make some big changes in their prices when trading in the region resumes.
It has been reported that Permodalan Nasional Bhd. has offered to buy SP Setia Bhd. for 3.90 ringgit apiece. In the last two decades it is the highest bid any company has offered to SP Setia Bhd.
Following the news, its shares rose by 13%.
The devastating earthquake in Japan, which shook the whole economy, is still revoking the country from overcoming the devastation. It has come to light that soon, the dominating political party of the country would be selling its stakes in Japan Tobacco Inc. to raise funds for repairing damages.
Today, Hong Kong shares witnessed big deal of downfall. It is believed that fall in the market resulted from Hong Kong Bank's move of buying the stakes of the financially damaged countries.
Tuesday seemed lucky for China. Its shares were seen escalating high. It has been informed that today the shares of Hong Kong were higher than it was ever in May 2009.
During a meeting held by China's Public Security Minister Meng Jianzhu and the Pakistan’s Prime Minister Yousuf Raza Gilani, Meng Jianzhu promised to provide support to Pakistan in establishing peace within the country which has been disrupted by the American forces present in Afghanistan.
On Tuesday, it was the third day of global stocks rallying against the debt crisis. With this rally, they expect to bring the European leaders with more striving plans for dealing with the euro zone debt disaster.
On Monday, it was announced by the European officials that they were planning to increase borrowing ability of European Financial Stability Facility, so that it could easily rescue the euro zone fund.
In early trade today, the BSE benchmark Sensex cited an upward trend and that too by 258 points, especially on fresh buying by the operators and investors in the market.