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Asia: Asian stocks at 10-year high

Asia: Asian stocks at 10-year high SEOUL Asian stocks climbed on Monday to their highest levels in almost 10 years, led by Newcrest Mining and BHP Billiton, as prices of commodities like copper, gold and crude oil rose. "There's enough value left in resources stocks to remain optimistic," said Don Hamson of State Street Global Advisors in Sydney. "Commodity prices are locked in over fairly long-term contracts for many of them, so there's an element of safety, too." The Morgan Stanley Capital International Asia-Pacific index gained 0.91 to 129.33 points, posting its highest close since May 1996. A

Buying into metals to tap growth in Asia

Buying into metals to tap growth in Asia Joe Joseph, manager of the $1.5 billion Putnam International Capital Opportunities Fund, used the global drop in the equity markets since April to buy shares of metals companies that will benefit from Asias growth. Joseph bought more shares of Pacific Metals Co. and started buying a stake in Kagara Zinc Ltd. as investors fled commodities stocks on concern that central banks would slow economic growth by raising interest rates. The Morgan Stanley Capital International World Index has fallen 6.3 percent since April. The Putnam funds biggest positions include Tokyo Steel Manufacturing Co. and Hyundai

PC pressure to hit Asia chip and LCD prices

PC pressure to hit Asia chip and LCD prices Global semiconductor shipments were up 11.9 per cent in June, compared to one year earlier, according to analysts in Japan. However, the uncertain and increasingly competitive PC market is squeezing prices for chips and LCD displays from major manufacturers in Japan, Korea and internationally, and this trend is expected to strengthen in the second half, regional observers say. Generally, sales of chips and components to mobile phones makers have been considerably healthier than sales to PC makers over the past three months, technology industry analysts in Asia note. Nomura Securities analysts in Tokyo are

LMEs extended trading hours may boost metal trade in Asia

LMEs extended trading hours may boost metal trade in Asia Metal trading in Asia will get a boost with London Metal Exchange extending the trading hours on its electronic trading platform, LME Select, by six hours from June 1. This will improve price transparency and increased arbitrage opportunities, industry officials said. LME Select now opens six hours early, from 0530 IST to 2330. This move, analysts said, will improve liquidity on Asian exchanges as traders will be able to trade simultaneously on LME, on real time basis. An official from Indias base metals conglomerate said, Asian traders can track LME

Metals in demand as Asia returns to buy

Metals in demand as Asia returns to buy Leading base metals were bouyant on Monday as Asian traders returned after a week-long holiday for Chinese New Year, maintaining the investment-led commodity market boom and keeping prices near record highs. Shanghai copper and aluminium futures jumped by their daily limits to new record highs. "Over the Lunar New Year period the LME (copper) rose above $5,000, so from the Chinese point of view they had to close the gap and so Shanghai copper rose," said Wang Zheng, a metals analyst at Shanghai Dalu Futures. Last week an influx of fresh investment fund money at the