CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Mixed trading day in Asia Singapore shares up after national election

Article By: ,  Financial Analyst
May 9, 2011 12:31 PM

Asian markets were having a mixed today with the Japanese Nikkei down 0.7% on nuclear fears and the Hong Kong Hang Seng Index up around 0.9%.

Japanese stocks fell for a second day on concern that a government request to shut a nuclear reactor located close to an earthquake fault-line may hurt the economy. Chubu Electric Power Co, based in Nagoya in central Japan, plunged 11% after Japanese Prime Minister Naoto Kan asked it to close its Hamaoka nuclear plant. Tohoku Eelctric Power Co based in the northern Miyagi prefecture, sank 1.5% after the Asahi newspaper reported it may post a full-year loss.

In Singapore, the stockmarket was trading higher after the national election that saw the return of the ruling People’s Action Party (PAP) to an overwhelming majority.
Singapore’s Straits Times Index advanced 1.27% percent to 3,138.64, rebounding from the worst weekly decline in almost two months. Genting Singapore Plc, operator of one of two casino resorts in the city-state, jumped 2.86 percent to S$2.16.

Olam International Ltd., a Singapore-based supplier of agricultural commodities, climbed 3.25 percent to S$2.86 after the company said it will invest between A$50 million ($54 million) and A$55 million to set up an almond-processing facility in Victoria, Australia.

Both Shanghai and Shenzhen composite index opened slightly higher this morning in China and stocks saw an increase across the board.

Hong Kong’s Hang Seng Index was also trading higher this morning, up 0.92% to 23393.22 point. Real estate investing company led the rally in blue chip stocks: China Resource Land gained 4.04% or 0.52 to 13.4 per share and China Oversea land & investment Ltd advances 3.09%. Resources stocks rebound under the hike of oil price, with PetroChina declaring a 2.29% gain.

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024