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Asian Markets Overview of March 31

Posted on June/19/2010 | Categories: Videos 1 Comment

ABN Newswire – Most Asian stocks tumbled massively yesterday as the Obama government suggested a bankruptcy for the struggling US car makers. Most major indices in Asia opened higher on Tuesday despite sharp loss on Wall Street, largely due to optimism of the local economy and corporate performance. Asia Economy Watch Japan’s unemployment rate rose to 4.4 percent, up from 4.1 percent in January, the Japanese government said Tuesday. The number of jobless surged 12.4 percent from the previous year to 330000. Meanwhile, Japan’s average monthly household spending dropped a 3.5 percent in February from a year earlier to 266044 yen, down for the 12th straight month. Household spending figures are a key indicator of individual spending, which accounts for about 55 percent of Japanese gross domestic product. Company News Japan’s Sumitomo Electric Industries Ltd. (TYO:5802) says that the electronics components maker is in talks with Toshiba Corp. (TYO:6502) to sell its stake in a nuclear fuel supplier. It is reported that Toshiba’s Westinghouse Electric Co. seeks to buy more than 50% of Nuclear Fuel Industries Ltd., a 50-50 joint venture between Sumitomo Electric and Furukawa Electric Co. (TYO:5801). India’s Tata Teleservices Maharashtra (BOM:532371) said Japanese firm NTT DoCoMo (TYO:9437) has hiked its stake in the firm to 12.12 per cent through open offer. Last year Japanese telecom firm NTT DoCoMo had entered into an agreement to acquire a 26 per cent stake in Tata

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One Response so far.

  1. DavidGozowsky says:

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