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  • » 06/11/2012, 00.00

    ASIA - EU

    Asian stock markets recover after aid to Spanish banks



    Hong Kong Stock Exchange opens up 2.35. Shares of companies that export to Europe also increase. Positive market data of Chinese trade: in May exports grew by 15.3; imports by 12.7 in a year. Price of oil and copper up due to increase in Chinese imports.

    Hong Kong (AsiaNews) - The stock exchanges in Asia are swiftly recovering after Spain received a loan of 100 billion to save its banks. The Hong Kong stock exchange opened this morning with a + 2.35, while the MSCI Asia Pacific Index rose 1, 8.

    The Eurogroup's decision to provide 100 billion - more than is strictly necessary to remedy the Spanish banks, burdened with bad debt - have injected confidence into world markets because it shows Europe's desire deal with the crisis.

    The euro has also strengthened to 1.26 against the dollar and other Asian currencies, the lowest since May 23 last year. Over the past six months, the European currency had lost 3.5%.

    The hopes of Europe are also reflected on companies that export to Europe. Japan's Canon, which depends on the old continent for at least one third of its sales, has now seen its shares rise by 2.2%.

    Added to the growing optimism is recent data of a growth in Chinese trade. In May, it rose by 15.3%, more than expected. Imports also rose by 12.7%, almost double than expected, running around on the 5.5. But many economists argue that this recovery is not consistent, since there are other indications to the contrary, like industrial production and retail sales.

    Oil prices for July were up 3% in New York. Analysts correlate this increase with the publication of data from China, which in May increased imports of crude oil. The same is true of copper, increased by 2.5%, after imports of the metal in China alone grew by 12%.

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    See also

    12/06/2012 ASIA - EU
    Asian markets drop after euphoria over Spain cools and fears for Italy and Greece emerge
    Stock markets drop to almost 1%. Lack of commitment on growth. For China aid to Spain contain short-term crisis, but no safeguard to stability. On 17 June, Greece votes for or against the euro.

    01/08/2011 ASIA
    Asian stock markets gain after United States default deal
    Tokyo closes up 1.34%, Manila + 1.04. Positive openings in Hong Kong and Mumbai.

    08/08/2011 ASIA
    Asia stock markets plummet amid fears of new global crisis
    All markets slide, some loosing up to 5%. A decline or stagnation of U.S. and European economies feared, with a reduction in consumption and exports from Asia. The G-7 promises to "support financial stability and growth." The ECB seems intent on buying Italian and Spanish bonds. The economies of many Asian countries at risk of. China’s criticism.

    29/07/2011 ASIA
    Asian markets plummet after Republican say no to Boehner plan
    Concerns about the United States public debt cause a general decline in stocks. Tokyo looses 0.69%, following the collapse of shares in technology. Hong Kong and Shanghai fare no better.

    12/07/2011 ASIA
    Asian stocks plummet over Eurozone debt and US “default” fear
    Tokyo drops 1.53, Seoul 2.2 in, Hong Kong 2, Shanghai 1.26. Yesterday, the European stock markets were all negative. The European Ministers of Foreign Affairs draw up a new plan to save Greece. Standoff between Obama and the House of Representatives continues over whether to raise the debt ceiling to more than 14.3 trillion dollars



    Editor's choices

    VATICAN
    Pope: together with the faithful in China on 24 May to celebrate Our Lady of Sheshan



    During the Regina Caeli, Pope Francis speaks about the World Day of Prayer for the Church in China, instituted by Benedict XVI. Chinese Catholics must make a “personal contribution to communion among believers and to harmony in the whole society." AsiaNews Symposium on the Church in China is set for this week. Francis appeals for peace in the Central African Republic, and for loving “one another following the example of the Lord”. For him, “Sometimes conflicts, pride, envy, and divisions leave a blotch on the beautiful face of the Church.” Five new cardinals will be named, including a bishop from Laos.


    VATICAN-CHINA
    May 24, 2017: 'China, the Cross is Red', AsiaNews Symposium

    Bernardo Cervellera

    The event will be held to mark the World Day of Prayer for the Church in China. A title with many meanings: the Cross is red from the blood of the martyrs; From attempts to suffocate the faith with state control; Bceause of the contribution of hope that Christianity gives to a population tired of materialism and consumerism that is seeking new moral criteria. The theme is also about the great and unexpected religious rebirth in the country. Guests to include: Card. Pietro Parolin, Msgr. Savio Hon, the sociologist of religions Richard Madsen, the testimonies of Chinese priests and laity.


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