Europe: Shares rise at open, buoyed by Elekta

European shares rose at the open on Thursday as commodity stocks recovered from recent falls, with a leading index also buoyed by well-received results from Sweden's Elekta to start September on a positive footing.

The Stoxx Europe 600 rose 0.6 per cent, after finishing August with a 0.4 per cent fall on Wednesday as commodity prices slumped.

However, oil prices stabilised and metal prices recovered on Thursday, leaving the energy and mining sectors up 0.5 per cent and 1.3 per cent respectively. Banks continued a recent rally and were the top sectoral risers, with HSBC up 2.4 per cent.

Elekta was the top single-stock gainer on the Stoxx 600, up 5.2 per cent after the maker of radiation therapy equipment posted Q1 core profit above forecast and said demand had been good in emerging markets, with China particularly strong.

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Australia, NZ: Shares subdued amid mixed earnings reports

Australian shares dipped on Friday and looked set to end the week little changed following a subdued performance by Wall Street and as local earnings reports remained mixed.

But trade was cautious ahead of a speech by Federal Reserve Chair Janet Yellen later in the day.

Markets are hoping for some clarity on whether the Fed might hike interest rates in September or even December, but it is far from clear Ms Yellen will oblige them. The subject of the speech is the Fed's policy toolkit and is expected to be longer term in outlook.

The S&P/ASX 200 index was down a slim 0.2 per cent, or 10.4 points, at midday at 5,531.5. For the week, the benchmark was up a bare 0.1 per cent.

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Epic Research Singapore : Forex Market Update

The pound GBPUSD -0.09%   fell to $1.6871 from $1.6890 late Thursday. The euro EURUSD -0.08%   was at $1.3872 versus $1.3866.

The Australian dollar AUDUSD -0.10%  inched down to 92.67 U.S. cents from 92.73 U.S. cents late Thursday.

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Epic Research Singapore : Forex Market Update

The dollar gave up its gain against the yen Friday as the conflict in eastern Ukraine overshadowed U.S. employment data providing strong evidence that a labor-market recovery is underway.

The dollar USDJPY -0.10%   gave up earlier gains to trade at ¥102.22, down from ¥102.30 late Thursday. The greenback had pushed above ¥103 just after the jobs report was released.

The ICE dollar index DXY -0.01%  , a gauge of the greenback’s strength against six other currencies, moved down to 79.510 from 79.524 late Thursday. The WSJ dollar index XX:BUXX -0.05%  , another measure of dollar strength, was little-changed at 72.84 versus 72.85.

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Epic Research Singapore : Market Update

Japan (Nikkei Average) down 2.2%
Hong Kong (Hang Seng Index) down 1.1% (at break)
Shanghai (Shanghai Composite Index) up 0.7% (at break)
Sydney (S&P/ASX 200) down 0.1%
Seoul (Kospi) down 0.6%
Mumbai (Sensex) down 0.5%
Taipei (Taiex) down 0.5%
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Epic Research Singapore : Panasonic News Update

Panasonic Corp. is considering selling the former site of its plasma television panel development plant in Osaka, as the electronics maker has decided to withdraw from the plasma TV business, Kyodo News reported, citing sources close to the matter.

The company may consider renting out part of the 120,000-square-meter site to Yamato Transport Co. The city of Ibaraki, where the facility is located, is also showing interest in acquiring the land, they said.

The production of plasma display panels began in 2001 at the plant, but it later became a base for assembling TVs and developing display panels after the company transferred plasma display panel production to its Amagasaki plant in Hyogo Prefecture in fiscal 2008. 
 Due to the sluggish plasma TV business, Panasonic incurred a massive group net loss for the second straight year in fiscal 2012 ended March 2013. 

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Epic Research Singapore : Forex Market Update

The dollar fell against the euro and yen on Wednesday as investors digested data on U.S. private-sector jobs and service-sector expansion in an effort to get a better sense of U.S. growth in 2014.Investors are also looking ahead to Thursday decisions from the Bank of England and European Central Bank.

A reading on the U.S. service sector showed a slightly faster pace of expansion in January, with the Institute for Supply Management’s nonmanufacturing index rising to 54% from 53% in December. The employment gauge hit its highest level in more than three years.

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Epic Research Singapore : Hang Seng Update

Hong Kong stocks bounced back on Wednesday after the previous day's heavy losses, with the Hang Seng Index HK:HSI -0.02% up 0.6% at 21,534.96. Haitong International Securities Group Ltd. HK:665 +3.29% , the subsidiary of China's leading broker Haitong Securities, climbed 4.3%, after the company said it expected its 2013 net profit to rise significantly mainly due to the growth of brokerage and retail-margin financing businesses. Other mainland brokers also advanced, as Guotai Jun'an International Holdings Ltd. HK:1788 -0.50% rose 0.8%, and China Everbright Ltd. HK:165 -0.39% moved up 0.4%. Casino stocks shined, as investors looked ahead to Macau's casino revenue data due later in the day. Wynn Macau Ltd. HK:1128 +2.58% WYNMF +2.10% gained 2.7%, after Macquarie raised its rating to neutral. MGM China Holdings Ltd. HK:2282 +4.01% MCHVF -1.77% jumped 4.2% and Melco Crown Entertainment Ltd. HK:6883 +1.07% MPEL -0.05% added 1.6%. The mainland stock markets remained closed for the Lunar New Year holiday and were scheduled to reopen on Friday.

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Epic Research Singapore : Forex Market Update

U.S. stocks on Tuesday recovered from prior-day losses — the S&P 500 SPX +0.76% and Dow Jones Industrial Average DJIA +0.47%  closed Monday with the biggest drops since June 20 — and Treasurys fell.

The dollar USDJPY -0.24%  rose to ¥101.67 from ¥100.92 late Monday. The dollar fell below the ¥101 level in the prior session after data showed the U.S. manufacturing sector expanded at a sharply slower pace in January than expected, with manufacturers blaming unusually cold weather conditions for the decline. 
 
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Epic Research Singapore : U.S Market Update

It came a bit earlier than I anticipated, but nevertheless we’re probably pretty much halfway through the correction. We should see support levels between the 1,710 -1,720 range on S&P. If that were to fail, then we’d go down to 1,675 range,” Cardillo said.

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Epic Research Singapore : Forex Market Update

The euro EURUSD +0.07% was little changed at $1.3491, compared to $1.3489 at the end of the previous week, while the British pound GBPUSD -0.01% inched lower to $1.6424 from $1.6443. The Japanese yen USDJPY +0.13% traded flat after losing hold of some brief gains, with the dollar changing hands at ¥102.08 versus Friday's ¥102.04. The Australian dollar AUDUSD -0.05% saw a fractional loss after a spate of weak data, easing to 87.44 U.S. cents from 87.49 U.S. cents.
 
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Epic Research Singapore : SGX Market Update

According to a report by Bloomberg, ASX Ltd. (ASX) will hire staff for a new office in Singapore this year as Australia’s main exchange operator seeks to do more business with Asian hedge funds and proprietary traders.
“It will be a meaningful presence,” Peter Hiom, Sydney-based deputy chief executive officer at ASX, said in an interview Jan. 31, adding that the Singapore office will focus on derivatives products. “There’s an untapped opportunity for us in Southeast Asia.”
 
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Epic Research Singapore : Nikkei Stock

The Nikkei Stock average lost 2.0% to end at 14619.13. That's well down from final day of 2013 trading, when the index hit a six-and-a-half year peak.

Japan share trading action typically reflects both the dollar and prior Wall Street indexes, and so Friday's U.S. share selloff following poor earnings reports from Amazon.com AMZN -11.00% and Chevron CVX -4.14% —combined with a selloff in the dollar—hurt the market, say traders.

As of the close of trading on the Tokyo Stock Exchange, the dollar was changing hands at ¥102.16.  

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Epic Research Singapore : Twitter Update

Not only will Dow components Walt Disney Co. DIS -0.83%  and Merck & Co. MRK -1.01%  report quarterly results on Wednesday, but Twitter Inc. TWTR +1.62%  will post its first earnings report since going public late last year. Shares of Twitter finished the week higher, caught in the updraft of Facebook Inc.’s FB +2.44%  strong results.  

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Epic Research Singapore : Comex Market Update

Oil futures fell on Friday and suffered a loss for the month as a recent selloff in emerging markets and weakness in U.S. equities raised worries about the prospects for energy demand. Natural-gas futures also fell for the session, but scored a hefty gain for the month as severe cold spiked demand for the heating fuel. March crude CLH4 -0.84% settled at $97.49 a barrel on the New York Mercantile Exchange, down 74 cents, or 0.8% for the day. It gained 0.9% for the week but lost roughly 0.9% for the month. March natural gas fell 7 cents, or 1.4%, to settle at $4.94 per million British thermal units. It fell 1.1% for the week and rallied about 18% for the month.  

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Epic Research Singapore : Facebook Update

Facebook FB -0.18%  surged 18.4% in premarket trade after its quarterly results topped Wall Street‘s consensus.

Shares of Google Inc. GOOG +4.15%  rose 2.5% after the bell on Wednesday following the company’s announcement that it will sell its Motorola Mobility phone-hardware unit to Lenovo Group Ltd. HK:992 -8.21%   Google reports results after the closing bell.  

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Epic Research Singapore : U.S Market Update

Futures for the Dow Jones Industrial Average DJH4 -0.14%  rose 58 points to 15,755, while the Standard & Poor’s 500 index SPH4 -0.14%  rose 7.6 points to 1,778.80. Futures for the Nasdaq-100 index NDH4 +0.50%  rose 21.25 points, or 0.6% to 3,495.25.  

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Epic Research Singapore : Microsoft Inc.

Microsoft Inc. MSFT +0.79%  shares rose 1.1% to $37.25 following a report that Satya Nadella, the company’s enterprise and cloud chief, will be named as chief executive.  
 Yahoo Inc. YHOO -0.09%  shares were off by 0.9% at $34.98 after the search company took to its Tumblr blog to announce that hackers had tried to break into an undisclosed number of email accounts through a coordinated effort. 

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Epic Research : Amazon Update

Shares of Amazon AMZN -4.47%  — at one point in the after-hours session down as 12% — declined 4.7% at $389 on heavy volume. The company reported fourth-quarter earnings of 51 cents a share on revenue of $25.59 billion. Analysts polled by FactSet expected 74 cents a share on revenue of $26.05 billion.  

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Epic Research: SGX Market Update

 THE Straits Times Index (STI) ended 14.48 points, or 0.47 per cent, lower at 3,047.93 points yesterday.
The FTSE ST Mid Cap Index added 0.10 per cent while the FTSE ST Small Cap Index lost 0.37 per cent.
Of the active stocks, SingTel shed 0.28 per cent, DBS fell 0.78 per cent, OCBC dropped 1.16 per cent, GLP declined 0.70 per cent and Keppel Corp retreated 0.75 per cent.
The outperforming sector, FTSE ST Consumer Goods, appreciated by 0.88 per cent.
Of its two biggest stocks, Wilmar International gained 1.61 per cent and Thai Beverage advanced by 0.92 per cent

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