Japan’s stock market has been in a long, secular bear market for two decades. But that has been punctuated by fierce rallies. Martin Hutchinson says another spike could be on the cards next year as the Nikkei tests its 2003 low. He picks three Japanese stocks with a strong bounce potential in a market recovery.
South Korea Plans $10.8 billion Stimulus; KKR IPO Delayed Again; DryShips Posts 71% Profit Growth; Oil Slides Below $64; Manufacturing Hits 26-year Low; Viacom Profit Down 37%; Cars Sales Plummet
Come Wednesday morning – after the presidential election tomorrow (Tuesday) – the United States will have a new commander-in-chief. The president-elect will face some significant challenges: A weak economy (okay, a recession, given last week’s gross domestic product (GDP) report, which confirmed just how dire the country’s economic situation had become).
Andrew Gordon says people who think a housing market recovery will spark a wider economic revival have got it the wrong way round. Until people stop losing their jobs and can afford to splash out on inexpensive items they’re not going to buy houses. Auto sales provide a better economic barometer. The sector is heading for its worse year since the early ’90s. Things are still looking glum…
With the U.S. auto market increasingly focused on practicality and fuel-efficiency, Chrysler LLC announced yesterday (Wednesday) it was entertaining offers for its Dodge Viper sports car.
Baosteel Group Corp., China’s largest steel producer, will pay $4.2 billion in cash for an 80% stake in a new Guangzhou-based steel mill that will merge two rivals, Shaoguan Iron & Steel Group and Guangzhou Iron & Steel Group.
China is already the world’s top steel consumer and producer, churning out one-third of the global supply. This newly formed company, Guangdong Iron & Steel Group Corp., will boost Baosteel’s capacity by 33% to 40 million tons.
It’s one of the biggest product-development programs in Asia right now, and it could easily determine whether Japan remains a global industrial powerhouse - or limps into the future as an international has been.
High gas prices and fading consumer confidence took a heavy toll on the automotive industry in March, as sales for each of the four largest automakers plummeted.