News - 2012 12

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2012 12

U.S. stocks fell sharply last night after a two-session rally as negotiations to avoid deep spending cuts and tax hikes seemed to hit an especially rocky spot.

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U.S. stocks rose, giving the Standard & Poor’s 500 Index its biggest gain in about a month as investors weighed prospects for a budget deal in Washington.

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Asian stocks fell, with the regional benchmark index poised to halt its longest rally since 2004, as suppliers to Apple Inc dropped. Losses were limited as Japanese shares jumped after a party that backs more economic stimulus returned to power.

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Chinese stocks jumped on speculation state-backed institutions were buying shares as a manufacturing survey added to optimism the economy will rebound. Equity trading volumes at the Shanghai Composite Index were more than double the 30-day average and 52 percent higher for the Taiex

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Asian markets mixed, with Japan leading the way up around 1.6% and China lower by around 1%. Japan’s rise in equities was boosted by further weakness in the Yen as the currency made an 8th month low.

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U.S. stocks rose last night , erasing losses since Election Day for the Dow Jones Industrial Average, after Germaninvestor confidence climbed and traders waited in hope for progress on federal budget negotiations in Washington. American International Group Inc. added 5.7 percent as the government sold its remaining stake. Apple Inc. rose 2.2 percent as Morgan Stanley reiterated its overweight rating

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Asian markets higher this morning after better than expected data out of China over the weekend, with the county's factory output and retail sales rising at the fastest pace since March. Elsewhere, data release in Japan confirmed a technical recession.

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Asian markets firmer, with China's Shanghai Composite leading the way up 1% ahead of industrial production and retail sales data due over the weekend. The Nikkei was attempting to rally for the seventh consecutive day, but sold off into the close to finish modestly lower.

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Asian markets mixed this morning with the Nikkei the standout performer up just shy of 1%. LG Electronics and Samsung were notable underperformers in Korea after EU fines were imposed on price fixing on no longer used cathode ray tubes used in TVs and computers.

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Asian markets firmer this morning, with China leading the way up around 3% after the government said that insurers will be allowed to invest more in banks. Australia released their GDP figures which came I n marginally lower than expected. The BOJ have again stressed that they are ready to take further action with regards to monetary policy.

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Asian markets mixed again this morning, with the highlight macro news being Australia cutting their benchmark interest rate by 25bps to 3%. China’s Shanghai Composite bucked recent weakness to close almost 1% higher.

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