Asian Shares Mostly Ease on Fed Concern, China Data


Asian stocks mostly dropped after the Federal Reserve's minutes from its latest meeting suggested that a tapering of its bond-buying program could come in coming months.

The minutes were released on Wednesday, and helped boost the US dollar. The weaker yen helped Japanese stocks, which closed higher.

The Bank of Japan kept monetary policy steady, as expected.

Meanwhile, weaker manufacturing data from China weighed on Hong Kong and Shanghai. The HSBC/Markit China manufacturing Purchasing Managers' Index eased to 50.4, compared to last month's 50.9 reading. The result was also well below the official government version of the PMI, which hit 51.4 in October. Analysts surveyed by Bloomberg had expected a reading of 50.8.

Elsewhere, Singapore's Q3 GDP rose 1.3% on a seasonally adjusted and annualized basis, according to revised estimates by the Ministry of Trade and Industry. That compared with a contraction of 1.0% estimated last month. Growth in Q2 was also revised to 17.4%, from 16.9% reported last month.

In ADR news, China Distance Education ( DL ) reported Q4 earnings of $0.27 per ADS, versus the Capital IQ single analyst estimate of $0.22. Revenues were $27.1 million, versus the single analyst estimate of $23.77 million. The company expects Q1 revenues of $15.8 million - $16.9 million, compared with the single analyst estimate of $15.6 million. For FY14, DL sees revenues of $85.7 million - $90.7 million, versus the average estimate of $82.32 million from two analysts. International ( DATE ) said Q3 net revenues were RMB128.7 million (US$21.0 million). Analysts expected $21.2 million in revenues, according to Capital IQ estimates. Non-GAAP operating income for Q3 2013 was RMB16.9 million (US$2.8 million). It expects to generate net revenues in the range of RMB128 million to RMB130 million in Q4.

Changyou.Com Ltd. ( CYOU ) said it recently signed an agreement to acquire 62.5% of equity interests in a company of Kalends Inc. that is based outside China and owns the social communication platform Raidcall. CYOU will be acquiring the company for $50 million in cash. The transaction is expected to close in December, subject to customary closing conditions.

The Nikkei ended up 1.92% at 15,365.60, the Hang Seng down 0.51% at 23,580.29 and Shanghai down 0.04% at 2,205.77.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: CYOU , DATE , DL

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