Market Report - Asia Up on European Recession Recovery

In todays Market Reportthe Nikkei rose to a 10-month high. Exporters and mining-related shares gained on renewed optimism about a global economic recovery.

The Australian dollar surged on expectations of a rate rise before the end of the year.

But Hong Kong's Hang Seng tracked losses in Shanghai. It was down on concerns over increased supply of shares—as capital raising picks up steam.

China Merchant Bank, the country's sixth biggest lender, said it plans to raise as much as $2.6 billion in a rights issue in Hong Kong and Shanghai by the end of the year. Everbright Securities says it will list in Shanghai next week, and is hoping to raise $1.6 billion in its upcoming IPO.

Casino operator Las Vegas Sands appears to have a clear path to a Hong Kong listing. It comes after lenders agreed to amend its $3.3 billion Macau credit facility. The casino operator wants to use the cash to complete the stalled Venetian project in the Chinese gambling enclave. The company also said its on track to open its next gambling resort in Singapore early next year.

Meanwhile, rival Macau casino firm Melco raised $200 million in equity to pursue development opportunities, further signaling an expected recovery in the top gambling hub.

Category:

News & Politics

Tags:

• ntd
• ntdtv
• News
• Market
• Report
• Asia
• European
• Recession
• Recovery
• Nikkei
• global
• economic
• Shanghai
• China
• Merchant
• Bank