The China July Foreign Direct Investment (
) figures came in significantly above expectations, up 24.1% versus
the street at 14%. However, the Shanghai Comp closed down by
There was significant weakness in banks on continued reports of
deposit liberalization, which is expected to pressure net interest
margins. Looking ahead, banks in the region will be reporting
earnings, and current forecasts are fairly sluggish.
In contrast, the Taiwan Stock Weighed Index (TSWE) was up 0.75%
on reports of Foxconn, which is major partner and manufacturer for
), is resuming large-scale hiring plans. Specifically, the company
reported that it has already begun hiring workers in Shenzhen and
Zhengzhou to meet Q4 client demand.
Japan's Nikkei was the best performing market, closing up 2.2%
ahead of Bank of Japan Chief Kuroda's speech at Jackson Hole
(notably, Ben Bernanke and Mario Draghi will be absent from the
economic conference this year). Investors expect Kuroda to
reiterate his commitment to putting an end to deflation.
That said, TEPCO extended its decline owing to continued worries
about its Fukushima plant. The outlook for the nuclear market in
Japan remains uncertain (which Kuroda had previously stated would
be a stimulus to the economy.)
SSEC 2057.46 -9.67 -0.47
TWSE 7873.31 +58.93 +0.75
N225 13660.55 +295.38 +2.21
DJIA 14937.0 -2.0 -0.01
IXIC 3105.0 +3.25 +0.10
SPX 1655.25 +0.5 +0.03
AAPL 504.01 +1.04 +0.21
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