SINGAPORE
Singapore 's new private home sales dropped by 27% in August from the month prior.
Singapore Airlines (SIA) released August overall load factor rose 1.1% YoY vs -1.7% in July, and passenger load factor was up 1.7% YoY in August vs -1.1% for the prior month, while cargo load factor fell 1.7% YoY vs -2%.
ComfortDelGro (CD) unit acquired a 10% stake in Nanning ComfortDelGro Rent-A-Car.
US indices fell on Monday pressured by banks and materials sectors. On the US economic data front, the Empire Manufacturing index for September drop to -10.41 (-2.00 expected). Looking at some US stocks, Waste Connections (WCN +10.58% to $32.81) said it has agreed to buy the business and operating subsidiaries of R360 Environmental Solutions for appx. $1.3B in cash. Separately, Cliffs Natural Resources (CLF -7% to $42.36) and US Steel (X US -4.65% to $21.31) were downgraded to "neutral" from "overweight" at JPMorgan. In other news, Nvidia (NVDA -2.75% to $13.46) confirmed the general manager of its mobile business unit had left on August 24 (AllThings Digital).
In Europe, euro zone trade balance was a surplus of E7.9B in July vs a surplus of E9.3B the month before. In UK , according to Rightmove, house prices fell 0.6% in September vs -2.4% in August. YoY, they gained 0.6%. Regarding the stocks, SSAB plunged after issuing a profit warning. Hennes & Mauritz lost ground as quarterly sales disappointed analysts. This morning, the Nikkei225 index opened slightly lower, but stands above its ST & MT moving averages.
CHINA - HK
The People's Bank of China, along with other financial regulators, released the 12th five-year plan for China 's financial industry. "The plan, a complement to the central government's five-year plan, also runs from 2011 to 2015, and mostly reiterates existing policy initiatives. It calls for the eventual liberalization of interest rates, and gradual progress in opening the capital account, two longstanding reform objectives. (...) The plan also calls for the establishment of a deposit insurance system, and the legislation of a bankruptcy law for financial institutions to establish a procedure for financial institutions to exit the market. (...) Monetary policy should transition away from 'quantitative tools' such as lending quotas, toward emphasis on 'price tools' such as interest rates. (...) In one of the few hard targets to be reached by 2015, the plan calls for 15% of total social financing--the PBOC's measure of the total supply of credit and other financing--to be from 'direct financing' from nonfinancial companies, meaning sources like equity issuance, rather than bank loans," according to the statement (Dow Jones).
China 's outstanding external debt increased by $34B in the second quarter to reach $785.17B by the end of June this year, the State Administration of Foreign Exchange said. Of the total outstanding external debt, registered external debt reached $495.07B, while the balance of trade credit between enterprises amounted to $290.1B.
China filed a complaint at the World Trade Organization against U.S. anti-subsidy and anti-dumping measures on Chinese exports including paper, steel, tires, magnets, chemicals, kitchen appliances, wood flooring and wind towers.
China 's state-owned enterprises profits climbed 1.1% MoM in August (vs -11.6% MoM in July) but fell 12.8% YoY to 1.38T yuan in the first eight months of 2012, the Ministry of Finance said Monday.
China 's Social Security Fund to boost equity allocation to 30% and allocate 22.7B yuan for equity investment (Xinhua).
Industrial & Commercial Bank of China (1398)'s acquisition of a 80% stake in Standard Bank Group's Argentine unit may not close by the end of the year due to regulatory hurdles, according to Standard's CEO David Munro.
Standard Chartered (2888) expects its wholesale division to reach appx. $10B in operating profit by 2016, according to Mike Rees, the head of the division.
China Railway Construction (601186)'s units won two projects in Jiangsu and Sichuan with a 2.64B yuan bidding price.
Orient Overseas (316) to raise rates on its Southeast Asia to Australia routes by $200 a TEU, effective October 15.
Sun Hung Kai (86) to sell $350M of 6.375% notes maturing in 2017.
Samsonite (1910): Private equity firm CVC Capital and Royal Bank of Scotland sold a combined 153.6 million shares in the Co for HK$14.50 per share or HK$2.22B in total.
Zijin Mining (2899): Minxi Xinghang, the Co's largest shareholder, acquired an additional 29.3 million H-shares, raising its stake to 29.09%.
Wynn Macau (1128): Kazuo Okada said the Co's $135M donation to University of Macau was "suspicious".
Lenovo Group (992) appointed Jack Lee as general manager for its Hong Kong , Taiwan and Korea region, replacing Ken Wong.
Hutchison Telecommunications (215) price target was cut to HK$3.60 ("equalweight") from HK$4 ("overweight") at Barclays.
Google Trend HK - popular searches: China Coal Energy Co (1898), Jiangxi Copper (358), Luk Fook Holdings International Ltd (590), SPDR Gold Shares (2840), Zhaojin Mining Industry Co (1818)
PetroChina (601857): ex-div CNY0.1525
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