George King, head of portfolio strategy at RBC, reveals the finding of a survey on global wealth which showed it's growing and mainly concentrated in the U.S., Japan and Germany.» Read More
*Nifty futures on the Singapore Exchange. FACTORS TO WATCH* Infosys, India's no. 2 software services provider, will report September quarter earnings. *A committee, led by prime minister's Economic Advisory Council chief C. Rangarajan, will recommend lifting curbs on India's tightly controlled sugar sector.
Hong Kong's Hang Seng advanced 0.9 percent to 21,182.77 and South Korea's Kospi rose 0.1 percent to 1,935.53. The Commerce Department reported that foreign demand declined for American-made cars and farm goods. One big unknown is Spain and whether the government of the recession-mired country will ask for a financial bailout.
TOKYO, Oct 12- The stand-off between Japan's government and opposition parties is a concern as it has stalled important legislation needed to fund government spending, credit rating agency Moody's Investors Service said on Friday.
*Nifty futures on the Singapore Exchange. *Infosys, India's no. 2 software services will report September quarter earnings. Infosys is expected to post a 24.9 percent rise in profit in the quarter ended Sept. 30 to 23.8 billion rupees.
* "The 30- year was undervalued so demand was strong, but 20- year JGBs aren't as attractive, and they're also not as appealing to those who are actively buying in the 10- year sector because they are too long for investors just seeking carry," said a fixed income fund manager at a Japanese asset management firm in Tokyo.
Treasuries were supported on Friday with the benchmark 10- year yield staying near this week's low on concerns about corporate earnings and uncertainty over the U.S. presidential election. Yet Wall Street shares failed to recover from one-month lows on expectations of a weak earning season and uncertainty over November's U.S. election.
SEOUL, Oct 12- Seoul shares ticked up on Friday morning on signs of improving conditions in the U.S. job market and signs of some progress toward a resolution of the euro zone's debt troubles. This was in line with regional peers, with the index of Asia Pacific shares outside Japan up 0.4 percent.
TOKYO, Oct 12- Japanese Economics Minister Seiji Maehara said he will discuss the pain a strong yen is inflicting on the country's exports when he meets U.S. Federal Reserve Chairman Ben Bernanke and European Central Bank President Mario Draghi later on Friday.
TOKYO, Oct 12- The stand-off between Japan's government and opposition parties is a concern as it has stalled important legislation needed to fund government spending, rating agency Moody's Investors Service said on Friday.
*Europe wants more focus on U.S. fiscal woes* Germany: Europe is not the source of all problems* Mixed reviews on IMF call for slower budget cuts. TOKYO, Oct 12- Greece, Spain and the euro zone's slow progress toward debt reform took centre stage at IMF meetings on Friday despite Europe's best effort to remove itself from the spotlight.
HONG KONG, Oct 12- These are some of the leading stories in Hong Kong newspapers on Friday. --Bursa Malaysia, the operator of the Southeast Asian country's stock exchange, plans to list the world's first retail Islamic exchange-traded bond in Malaysia in December, which may lead to a listing in Hong Kong if there is demand.
In response, Goldman Sachs and J.P. Morgan cut their price targets on the operator of casual clothing chain Uniqlo. Goldman Sachs reduced its price target to 20,500 yen from 21,000, although it kept its' buy' rating. J.P. Morgan lowered its price objective to 15,000 yen from 16,400, but maintained its' neutral' rating.
*Softbank slumps 15.3 pct, in talks to invest in Sprint Nextel. said it was in talks to invest in U.S. firm Sprint Nextel.
BEIJING, Oct 12- Vehicle sales in China fell 1.8 percent in September from a year earlier as Japanese automakers' sales collapsed. Industry-wide sales in China, including passenger cars and commercial vehicles, totalled 1.62 million vehicles in September, compared with 1.65 million a year ago, according to the China Association of Automobile Manufacturers.---------------------------------------------------------------.
*Territorial spat between Japan and China may hit sales. TOKYO, Oct 12- Japan's government downgraded its view of the economy for the third month in October as worries about Europe's debt crisis and China's slowdown intensified, adding risk to the growth outlook.
BANGKOK, Oct 12- Following are some company-related and market news which could have an impact on the local market. SE ASIA STOCKS- Global concerns weigh; late buying lifts Bangkok, Jakarta. >Bond prices gain as Europe worries continue.
TAIPEI, Oct 12- Taiwan stocks opened flat on Friday, steadying in line with other regional bourses but constrained by concerns over weak company earnings. The Taiwan dollar was up by T $0.162 to trade at T $29.270. ASIA-PACIFIC STOCK MARKET REPORTS: Japan..........
CANBERRA, Oct 12- Australian shares gained more than 0.2 percent on Friday morning, recovering from two sessions of losses, as a rebound in metal prices lifted index-heavy mining stocks. Global miner BHP Billiton Ltd gained 0.8 percent to A $33.50 and major rival Rio Tinto Ltd rose more than 1.6 percent to A $56.31.
HONG KONG, Oct 12- Hong Kong shares are set for a slightly higher open on Friday that will lift them into positive territory for the week as hopes of more steps from China to support its domestic stock markets lure investors back into the market.
TAIPEI, Oct 12- Following are news items and media reports that may affect the Taiwan stock market. >Sprint in talks on sale to Japan's Softbank. --Taiwan will open more sectors to foreign and mainland Chinese investment and relax investment rules in the hi-tech and other sectors to attract more money to the island.