August 2010 Asian Penny Stocks To Watch
In Japan, the benchmark Nikkei 225 Index gained 164.58 points
, or 1.73%, to 9,654, while the broader Topix index of all First Section issues was up 11.16 points, or 1.32 percent, to 857
On the economic front, a statement released by the Ministry of Finance revealed that Japanese residents sold a net 20.4 billion yen in foreign stocks in the week ended July 31. The statement further noted that Japanese investors purchased a net 1.27 trillion yen in foreign bonds and notes last week.Foreign investors bought a net 144.1 billion yen in Japan stocks, the data showed, and also purchased a net 287.4 billion yen in Japan bonds and notes.
Real estate stocks led the gains in the market. Sumitomo Realty and Development surged up 5.51%, Mitsui Fudosan soared 5.68%, Mitsubishi Estate climbed 5.45%, Tokyu Land Corp. rose 3.69% and Heiwa Real Estate gained 3.40%.
Stocks of non-ferrous metals ended in positive territory. Toyo Seikan Kaisha gained 2.75%, Sumitomo Metal Mining rose 1.96%, Sumitomo Electric Industries increased 1.99%, Mitsui Mining and Smelting Co. climbed 2.92%, Mitsubishi Materials Corp. surged up 3.52% and Toho Zinc Co. was higher by 2.43%.
Oil related stocks also ended in positive territory. JX Holdings gained 2.52% and Showa Shell Sekiyu rose 1.52%.
Trading companies also gained on weaker yen. Mitsui & Co. surged up 4.65%, Toyota Tsusho Corp. rose 2.77%, Mitsubishi Corp. advanced 1.33%, Marubeni Corp. climbed 2.97% and Itochu Corp was up 1.81%.
In Australia, the benchmark S&P/ASX200 Index added 24.40 points, or 0.54%, and closed at 4566 points, while the All-Ordinaries Index ended at 4,585, representing a gain of 25.20 points, or 0.55%.
Mining and metal stocks led the gains on optimism that global economic recovery will be sustained, though at a slightly slower pace. BHP Billiton added 0.39%, Rio Tinto edged up 0.23%, Fortescue Metals gained 1.85%, Gindalbie Metals rose 2.06%, Macarthur Coal climbed 2.27%, Mincor Resources increased 2.51%, Murchison Metals was up 0.55% and Oz Minerals was higher by 2.05%.
Oil related stocks also ended in positive territory. Woodside Petroleum advanced 0.76%, Santos Ltd added 0.52%, ROC Oil Co rose 4.05%, Oil Search gained 0.67% and Origin Energy rose 1.05%.
Banks also ended in positive territory with marginal gains. ANZ Bank added 0.30%, Commonwealth Bank remained unchanged from previous close, National Australia Bank added 0.76% and Westpac Banking also remained unchanged from previous close.
Gold related stocks ended higher on higher gold prices in the international market. Lihir Gold gained 1.67% and Newcrest Mining rose 1.59%.
Late-session profit taking following recent sharp gains dragged the Indian market modestly lower on Thursday. Oil/gas, healthcare, public sector, power, metal and banking stocks eased, while select realty, IT, auto and FMCG stocks gained modestly, limiting the loss. After confining to a range-bound movement, the 30-share Sensex finally ended down 45 points or 0.24% at 18,173, while the 50-share Nifty fell 21 points or 0.38% to 5,447.
Among the other major markets open for trading, China's Shanghai Composite Index ended in negative territory with a loss of 17.76 points, or 067% at 2,621 and Taiwan's Weighted Index declined 35.81 points, or 0.45%, to close at 7,937. However, Indonesia's Jakarta Composite Index surged up 61.69 points, or 2.07%, to 3,045, and Singapore's Strait Times Index added 4.89 points, or 0.16% to close at 3,007.
August 2010 Asian Penny Stocks To Watch
By: Walid
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