STOCKS TO WATCH> The Indonesian Food and Beverage Association sees sales in 2013 will reach 760 trillion rupiah, up 6.5-7 percent from this year forecast of 710 trillion rupiah, said chairman Franky Sibarani.> Home appliance retailer PT Ace Hardware Tbk.
By Tan Ee Lyn and Donny Kwok. HONG KONG, Oct 2- At least 36 people died and dozens were injured when a ferry carrying more than 120 people on a company outing collided with another ferry and sank near an island south of Hong Kong on Monday night in one of the city's worst maritime accidents.
The Shanghai Composite Index made a new low near 1,999 on September 26 and then developed a good rally rebound. There is a high probability the rally will continue after the Golden week holiday that ends Friday.
CANBERRA, Oct 2- Australian iron ore magnate Andrew Forrest and Fortescue Metals Group Ltd won a High Court appeal to overturn a conviction for misleading investors, allowing the billionaire to return as an executive director to the company he founded.
Softbank Corp rose 4.4 percent after the mobile operator said it would acquire smaller rival eAccess Ltd. in a $1.84 billion deal, stepping up a fight for market share with competitor KDDI Corp. eAccess was untraded with a glut of buy orders by mid-morning, while KDDI lost 2.5 percent.
BANGKOK, Oct 2- Following are some company-related and market news which could have an impact on the local market. SE ASIA STOCKS-Most weak in light volume, Malaysia outperforms. STOCKS TO WATCH-- SANSIRI PCL.
South Korea's Kospi rose nearly 0.3 percent to 2,001.41 and Australia's S&P/ASX 200 gained 0.6 percent to 4,413.80. Benchmarks in Singapore, Taiwan and Malaysia also rose. The better news on manufacturing helped investors set aside concerns of a possible downgrade by credit rating agency Moody's of Spain's debt rating to junk status.
MELBOURNE, Oct 2- Australian shares advanced 0.5 percent on Tuesday, with investors on tenterhooks ahead of a central bank rate decision and resources stocks helped by stronger-than-expected U.S. manufacturing data.
SINGAPORE, Oct 2- U.S. crude eased closer to $92 a barrel on Tuesday, as concerns over the pace of economic recovery in the United States and the possibility of a recession in Europe weighed on investors. was down 14 cents at $92.34 a barrel by 2338 GMT, after settling up 29 cents at $92.48 on Monday.
TAIPEI, Oct 2- Taiwan stocks rose 0.36 percent on Tuesday, joining other Asian bourses in gains after an unexpected expansion in U.S. factory activity buoyed sentiment, with defensive plays such as transport. The Taiwan dollar was up by T $0.083 to trade at T $29.319. ASIA-PACIFIC STOCK MARKET REPORTS: Japan..........
CANBERRA, Oct 2- Australian iron ore magnate Andrew Forrest and his Fortescue Metals Group have won a High Court challenge over a conviction for misleading investors, opening the way for Forrest to return as an executive director of the company he founded.
*MSCI Asia ex- Japan steady, Nikkei opens up 0.3 pct. Markets in China, Hong Kong and India are closed for holidays on Tuesday. The MSCI index of Asia-Pacific shares outside Japan.
SE ASIA STOCKS-Most weak in light volume, Malaysia outperforms STOCKS TO WATCH-- SINGAPORE AIRLINES LTD, TIGER AIRWAYS HOLDINGS LTD. -Singapore Airlines' budget unit, Scoot, and Tiger Airways have signed a partnership agreement and will offer some joint itineraries.
TAIPEI, Oct 2- Following are news items and media reports that may affect the Taiwan stock market. REUTERS HEADLINES> Nokia sells mapping services to Oracle. >3 M, Honeywell step up deals amid econ uncertainty.
MELBOURNE, Oct 2- Australian shares opened 0.3 percent higher on Tuesday, with investors on tenterhooks ahead of a central bank rate decision and resources stocks helped by stronger-than-expected U.S. manufacturing data.
-Citigroup holds roundtable discussion on the impact of the QE3 on Asian policy makers, with Citi Asia Pacific Chief Economist Johanna Chua, Makati Shangri-La Hotel, 10:00 a.m.. STOCKS TO WATCH- JG SUMMIT HOLDINGS.
Thierry Apoteker, CEO, Founder and Chief Economist, TAC Financial says investors need to be aware of the many risks still present in the U.S. and China that could cause further volatility.
SEOUL, Oct 2- South Korean stocks are set to begin the last quarter of this year on a positive note on Tuesday after a three-day holiday, buoyed by a surprise expansion in U.S. manufacturing. Analysts said focus would be on Samsung Electronics.
HONG KONG, Oct 2- At least 25 people died after a Hong Kong ferry packed with more than 120 people collided with another ferry and sank near Lamma island on Monday night in one of the city's worst maritime accidents. The accident occurred on Monday night in the waters off Lamma, an island south of Hong Kong popular with tourists and expatriates.
China is grinding towards its slowest growth in a decade, corporate profits are in free fall and the stock market is in the dumps. But take a random sample of its people, from white-collar workers to migrant laborers, and a large number will express satisfaction with the current state of the economy. The FT reports