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
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 (
) 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.
Jiayuan.com International (
) 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. (
) 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
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.
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