Nikkei up by automakers drop and yen
Stock Report March 9th, 2010
Japanese stocks rose triggered speculation of foreign income will increase as the yen weakened to the lowest level against the dollar since August, following the comments of Finance Minister Naoto Kan.
Toyota Motor Corp.., Propdusen the world’s largest automaker, had gains of 2% after yesterday Kan said in his first day in office that he would rather see the yen weakened a little deeper. Sony Corp. rose 2%, Aeon Co. climbed 6.5% after a net loss decreased.
The Nikkei 225 Stock Average rose 1.1% to 10,795.12 at 9:46 pm in Tokyo, leading to the closing position of the highest since October 2008. Topix index climbed 0.7% to as low as 938.76, with the number of shares gained twice as much than the weaker.
Topix index climbed 5.6% last year, the smallest increase in the number of index references to the 40 largest stock markets in the world, sparked fears the government will not help economic growth and strengthening of the yen would hit profits. A number of stocks in the index traded at an average level of 37 times estimated earnings, compared with 15 times the Standard & Poor’s 500 in the U.S. and 13 times in the Dow Jones Stoxx 600 in Europe.
The yen weakened to as low as 93.77 against the dollar today from 92.20 at the closing stock trading in Tokyo yesterday. The weakening of the yen raised the value of overseas sales of Japanese companies when converted into the country’s currency.
The currency jumped to the highest in 14 years in November and 93.59 on the average level in 2009, the highest level within 1 year from free trade that currency began in 1971.
Toyota climbed 2% to as low as 3925 yen and is the largest contributor to the strengthening Topix. Sony rose 2% to 2797 yen positions, and Sharp Corp. climbed 1.5% to 1193 yen.
Aeon jumped 6.5% to 848 yen, its sharpest gain in the Nikkei 225, after losses in 9-month net shrank 66% compared to a year ago.
Elpida Memory Inc. gained 3.4% to 1735 yen positions after the Nikkei Home News reported that the company likely to get the first operating profit in 3 years. NEC Electronics Corp. rose 4% to as low as 777 yen, Tokyo Electron Ltd. 1.7% experienced a gain of 5980 yen
Microsoft sought the data portability
Company Info March 9th, 2010
One effort software giant Microsoft in realizing interoperability with other vendor’s technology is to promote the portability of data through three steps.
Brad Smith, Senior Vice President and General Counsel Microsoft Corp., describes the three steps to create an open format, allowing export and import data and technology architecture support.
“Interoperability is very important for computing devices, software and services used by consumers and growing are manifold. Industrial [IT] to be very heterogeneous,” he said, speaking in the Regional Innovation Forum 2008 this morning.
In terms of data formats, go Brad, Microsoft has opened the technical documents related to the data format used by the software company. Documents protected trade secret laws and that closed earlier today anyone can learn, including developers, allowing sourcce open exchange of data.
The next step is to realize interoperability allows the import and export files in formats different. “Our products can read data from other products, and vice versa. Then our product can save files in formats other products, and senaliknya,” said Brad.
Interoperability is achieved by designing the architecture that supports various formats of other products, one of them via a plug-in technology, Microsoft. Plug-ins in general is a component of accessory to the software that can perform certain functions, in this case the data exchange.
Busines Software Alliance (BSA) re-organized the Regional Innovation Forum 2008 with a focus on the theme of competitiveness and public policy in the IT sector, as well as reduction Cybercrime. Seminar and panel discussion was attended by over 100 delegates representing the software industry, government agencies, law enforcement agencies, universities and IP practitioners from several countries in Asia.
The Indonesian delegation of eight people from the Ministry of Communications and Information Technology, Ministry of Industry, Ministry of Research and Technology including Penkajian Agency and Application of Technology (BPPT).
“This forum is a place to share and exchange ideas with delegates gather background different so as to bring diversity of perspective,” said Robert Holleyman, President & CEO of Business Software Alliance (BSA) in the opening speech this morning.
The first theme will discuss the factors necessary to foster competitiveness and create the information technology sector. The second theme discusses how public policy role in promoting the availability of technology options can push this industry, especially software. The third theme to talk about prevention Cybercrime and faktir factors to create the information technology industry is sustainable.
“It’s time for Asian countries to speak. The position of Asia become increasingly important as the engine driving the growth in the technology sector and the economy,” said Geoffrey Yu, Deputy Chairman, IP (Intellectual Property) Singapore Academy.
Speakers in the Regional Innovation Forum 2008, among others, comes from Microsoft, Washington University School of Law, the Economist Intelligence Unit, BSA and government agencies Malaysia, Taiwan, Singapore and the Philippines. BSA is an anti-piracy organization whose members are world-enterprise software company, founded in 1998 with offices in 80 countries.
South Korean exports rose highest in 17 months
Economy March 9th, 2010
Increased exports of South Korea reached the highest level in 17 months to strengthen the signal in the country’s recovery from the crush of global recession.
Ministry of Economy explained overseas shipments rose 33.7% in December from a year earlier to U.S. $ 36.2 billion. This figure is higher than the median estimate of 10 economists in 27.9%. While imports rose 24% to U.S. $ 32.9 billion trade surplus so that there is U.S. $ 3.3 billion.
The high sales abroad that emphasize the strong recovery in South Korea, the third quarter the economy grew 3.2%. Exports in November 2008 recorded the largest decline for a year due to weak demand amid the financial crisis.
“Export growth will continue in the coming months following the increase in demand from abroad. South Korea should take advantage of China and the restoration of a small state affected the global recession,” said Kim Jae Eun, an economist at Hyundai Securities Co. in Seoul.
Sales of Hyundai Motor Co. and other South Korean car maker is expected to reach 1.4 million vehicles in the domestic market this year, higher than the estimate of 1.37 million in 2009.
Hyundai Heavy Industries Co., the largest shipbuilder in the world, targeting orders reached U.S. $ 17.7 billion in 2010.
During 2009, the Ministry reported a trade surplus reached a record U.S. $ 41 billion as imports fell 25.8% and exports rose 13.8%.
Exports in January predicted to grow double digits from last year after the global financial crisis cut shipments in January 2009 of 34.5%.
The Ministry also explained exports will increase 13.2% this year, after the 2009 fall of 13.9%. Exports to China, South Korea’s largest market products, up 74.4% on the first day of December 20th. Shipping to the U.S. also rose 8.7% and to Europe rose 49.4% in the same period.
& P 500 rose 1.1% driven AIG’s commitment
Stock Report March 9th, 2010
U.S. stocks rose for the third day after American International Group Inc. plans to pay off debts to the government and manufacturing data and economic indicators lead to the end of the recession.
AIG shares rose 21% to be the best in the Standard & Poor’s 500 Index after CEO Robert Benmosche said it could do something for the shareholders. Google Inc. shares rose 3.7% after entered by Goldman Sachs Group Inc. to the group ‘conviction buy’. For Prudential Financial Inc added 4.3% after FBR Capital Markets recommends buying the stock.
S & P 500 rose 1.1% to 1007.37 at 4:05 p.m. in New York. Dow Jones Industrial Average rose 70.89 points, or 0.8% to 9350.05. Four stocks rose for every decline in the New York Stock Exchange.
AIG’s shares rocketed 21% to U.S. $ 32.30 after Benmosche said in an interview in Croatia that one day it can afford to pay the debt to the government and hoped to do something for the shareholders.
Last year, AIG agreed to convert almost 80% of shares to the government to get a bailout. Rescue including the provision of credit of U.S. $ 60 billion, investing up to U.S. $ 70 billion, and U.S. $ 52.5 billion to buy mortgage assets that are guaranteed by insurance.
Google shares rose 3.7% to U.S. $ 460.41 after Goldman Sachs put it into conviction buy list following the growth expectations in Europe and high income driven by increased consumer spending.
Prudential Financial Inc., the second largest life insurance in the U.S., grew 4.3% to U.S. $ 48.09, led the increase in shares of financial groups in the S & P 500 by 2.6%.
Singapore Economy begins to squirm
Economy March 9th, 2010
Prime Minister Lee Hsien Loong said Singapore’s economy started to squirm after having contractions for the first time in 2001.
In yesterday’s New Year message, Lee said the gross domestic product fell 2.1% in 2009. Achievement is in line with government estimates of the contraction of 2% -2.5%. Ministry of trade expansion projected 3% -5% in 2010. This figure is again mentioned by Lee.
“Our economy is growing again, and rose from the recession that hit since 2008. The global economy is beginning to stabilize. U.S., Japan, and Europe is also growing again although there are still problems,” he said.
Singapore along with other Asian countries out of the global slump last year after the regional government stimulus flushing almost Rp1 trillion. Even so, demand for domestic products is still weak as Stats Chippac Ltd..
Lee said the economy grew 3.5% in the IV quarter of the previous year. That figure is still below the median estimate of nine economists by 3.8%.
While eight other analysts predict annual GDP contraction of 2.1% in the IV quarter of the previous quarter. Ministry of Trade will launch this data on January 4.
Economist CIMB-GK Securities Pte Song Seng Wun said the Lee-economic project in the Southeast Asian country could be shrunk to 5% in the IV quarter of the previous three months.
Singapore’s economy experienced a contraction in the 12 months to March as the deterioration of global recession.
