SINGAPORE
Singapore Airlines (SIA) announced its long-haul budget unit Scoot Pte has signed an agreement with Tiger Airways (TGR) on a marketing partnership, saying: "The initial phase of this partnership will see each carrier marketing joint itineraries between Phuket, Ho Chi Minh City and Kuala Lumpur, destinations served by Tiger; and Sydney and Gold Coast, served by Scoot. Customers may purchase a single itinerary for travel from Australia , via Singapore , to Tiger's destinations."
US indices were mixed on Monday. On the US economic data front, ISM manufacturing index rose to 51.5 in September (49.7 expected) from 49.6 the previous month. Also, construction spending fell 0.6% MoM in August (+0.5% expected). Stocks in the diversified financials and automobiles sectors traded higher while shares in the technology hardware & equipment and real estate sectors were under pressure. Take a look at US company news, 3M (MMM +0.94% to $93.29) has agreed to buy Ceradyne (CRDN +43.14% to $34.97) for $35.00 per share in cash. Separately, TRW Automotive (TRW +7.71% to $47.08)'s Board of Directors announced a $1B share repurchase program.
In Europe , in eurozone, the jobless rate in August remains unchanged at 11.4% of the workforce. The Euro Zone PMI manufacturing recovered slightly in September @ 46.1 compared with an index reading of 45.1 in August. New car registration data from the French car manufacturers' association show an 18% drop in September compared with the same month in 2011. Regarding stocks, Banco Popular Espanol slumped the most in two months after announcing a capital-increase plan. Credit Agricole recovered sharply after starting talks to sell its unprofitable Greek unit. The Nikkei225 index opened slightly higher this morning, but is still under pressure below its key moving averages.
CHINA - HK
China market closed during October 1-5 for Mid-Autumn Festival and National Day.
Hong Kong market closed during October 1-2 for Mid-Autumn Festival and National Day.
China 's leading index rose to 99.63 in August from 99.24 in July (revised higher from 98.75).
China 's manufacturing PMI reached 49.8 in September (50.1 expected) vs 49.2 in August.
The HSBC China Purchasing Managers' Index edged up to 47.9 in September from 47.6 in August. Key findings were: "- New export orders fall at fastest rate in 42 months. - Output and input prices continue to fall. - Purchasing activity declines amid weak demand and lower production requirements." HSBC commented: "Chinese manufacturing growth is likely to be bottoming out. However, the sharper contraction of new export orders and the lingering pressures on job markets mean that Beijing should step up easing to support growth and employment. Fiscal measures should play a more important role in the coming months."
Total deposits with authorized institutions in Hong Kong rose 1.0% MoM in August according to the Hong Kong Monetary Authority. Hong Kong-dollar deposits grew 1.5% MoM, overall foreign-currency deposits rose 0.4% in August with yuan deposits declining 1.9%.
Hong Kong 's M1 Money Supply rose 8.7% YoY in August vs +5.9% in July, and M2 grew 8.6% vs +5.1%, according to the Hong Kong Monetary Authority.
United Co Rusal (486) said Matthias Warnig, currently the managing director of Nord Stream AG, has been appointed as its new chairman to replace Barry Cheung, who has resigned.
Bank of China (3988)'s Taipei branch is said to have been selected by the People's Bank of China to offer yuan clearing services in Taiwan, reported Dow Jones.
Sino Land (83) has acquired, jointly with K Wah International Holdings (173), a residential land parcel in Hong Kong 's Tsang Kwan O area at bid price of HK$2.3B according to the government. Separately the Co won a land parcel on Peng Chau Island for HK$31M.
New China Life Insurance (1336) said Chairman Kang Dian bought 20K H-shares of the Co at an average price of HK$24.275 per share on September 28, raising his H-share holding to 50K shares.
China Merchants Holdings (International) Co (144) said it has agreed to acquire from its parent group a 46.7% property interest in the Ocean Centre located in Shenzhen city's Nanshan district for 465M yuan.
Guangzhou Shipyard International Co (317) issued a profit warning saying it would swing to a 3Q net loss from a net income of 145M yuan a year earlier.
Geely Automobile (175) said Zhejiang Haoqing Automobile Manufacturing Co Ltd, which the Co sold and purchased certain vehicle products, is conducting a voluntary recall of 55K vehicles of "Geely Kingkong" and "Geely Jin Ying" models in China due to fuel box problems.
Parkson Retail Group (3368) announced Chew Fook Seng will retire and will be succeeded by Tan Hun Meng, currently the Co's COO of Southern Region.
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