ASIAN EQUITY UPDATE – 13 APRIL 2012

GLOBAL

According to global experts surveyed by the World Economic Forum, the Global confidence index rose by 13 per cent over previous quater for the upcoming 12 months. However the people surveyed are still not confident about the health of the global economy, but less pessimistic compared to last year. (Economic Times/PTI)

The World Trade Organization warned that the growth in international trade would slow to 3.7 per cent in 2012, due to lack of steam in global economy and amid continuing European crisis. According to the WTO trade volume grew 5.0 per cent in 2011 and at 13.8 per cent in 2010. (NY Times)

According to Christine Lagarde, the IMF will need less new money for crisis intervention than USD 500 billion anticipated earlier. (Economic Times/AFP)

According to a report by Credit Suisse, sale of smartphones over the world is expected to cross the 1 b units by 2014 on account of strong demand from China and by the launch of economically priced handsets. Sales are expected to increase by 46 percent to 687.9 m units for 2012 and to 1.05 b units by 2015 on account of robust growth in the Chinese markets which could account for almost 22 percent of demand. Growth could be led by Nokia, Apple Inc, Samsung. Motorola Inc., HTC Corp, Sony could display vulnerability in the markets and Blackberry could suffer significant decline. (Economic Times)

ASIA

The World Bank forecasted a decline in China’s 2012 GDP to 8.2 percent from an earlier projection of 8.4 percent. The bank cited a slow global recovery which affected exports, consumption and investment in China. It also forecasts that the country’s trade surplus could drop to 3.1 percent of GDP in 2012 from 3.4 percent in 2011 and  that the current account excess would rise to 3 percent. (Bloomberg)

China’s export growth stood at 9.3 per cent, according to a WTO report. (Economic Times/PTI)

Fast Retailing – The Japanese retailer expects higher year-end sales as it posted a 38.7 percent rise in 1H12 earnings to JPY 57.7 b for the period ended February. It forecasts a 50 percent rise in net profit to JPY 81.5 b as against JPY 54 b on a Y-o-Y basis. Strong domestic and international performance of its Uniqlo stores strengthened outlook for the company. (Financial Times)



Categories: General News

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