Hong Kong : In Asia, CNOOC gains on Gulf of Mexico news, NEC surges, Disney-related stocks fall.Byline: manish03 Asia's major indexes rose Friday, with Hong Kong's Hang Seng Index Hang Seng index The major index in Hong Kong. Hang Seng Index A market-weighted index of 33 stocks making up approximately 70% of the market value of all stocks traded on the Stock Exchange of Hong Kong. climbing 1.6 percent to close at 21,830, Japan's Nikkei Index increasing 0.7 percent to end the day at 9,789 and China's Shanghai Composite Index Composite Index A grouping of equities, indexes or other factors combined in a standardized way, providing a useful statistical measure of overall market or sector performance over time. Also known simply as a "composite". adding 0.3 percent to settle at 3,164. Yet another successful IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. sent shares of Greens Holdings Ltd. up 12.3 percent, making it the third Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. company to rise on its debut this week. The company provides energy efficiency solutions and products, including wind power equipment. Luxury residential developer Evergrande Real Estate Group, which began trading earlier this week, fell 2.6 percent today, and menswear company Trinity Ltd, which also kicked off trading this week, lost 3.9 percent of its recent gains. Oil goliath CNOOC CNOOC China National Offshore Oil Corporation Ltd (CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ) climbed 3.37 percent after agreeing to purchase a stake in four prospects in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east from Norway's Statoil. China Daily reports that the deal could be worth up to $100 million, and indicates that China is seeking to diversify its oil supply. The paper reports that China has become the world's second largest oil importer. Real estate companies in the territory also rose today as executives from top development companies continued to plea for the government to release more land. After recently losing share price, Sino Land Co. Ltd. (SNLAY) gained 3.4 percent, Sun Hung Kai Sun Hung Kai Properties Ltd. (新鴻基) (HKSE: 0086 ) is a listed corporation based in Hong Kong. The company is controlled by the 3 Kwok brothers, whose father, Kwok Tak Seng, founded the company. Collectively, they speak for 43. Properties Ltd. (SUHJY) climbed 2.5 percent and Cheung Kong Holdings rose 1.7 percent. In Tokyo, computer and cell phone maker NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Corp. (NIPNF) surged 10.1 percent on news that it will sell stock in order to raise $1.5 billion. The last time it offered shares to the public was in 2003, and reports say it plans to use the cash to pay off some of its debt and to finance the development of business in the area of the much-talked-about cloud services technology which allows data to be stored on remote servers that customers can access through the internet. Hitachi Ltd. (HIT), which owns a stake in NEC, climbed 5.6 percent today. In China, Daqin Railway continued to climb, rising 4.5 percent and property developer China Vanke, (CVKEF) gained 2.8 percent, saying October sales had surged. Ningbo United Group Co. Ltd, which develops residential and commercial properties in Zejiang province, surged 6 percent today. Shares in companies related to the development of the newly approved Shanghai Disney have begun to slide, after initially spiking on the news of the approval of the enormous project. Today Shanghai Pudong Road & Bridge Construction Co. Ltd. inched down 0.2 percent, Shanghai Lujiazui Finance & Trade Zone Development Co Ltd., a developer involved in the project, slipped 0.3 percent and Shanghai Jielong Industry Corp Ltd., a printing company that owns much of the land designated for the project and had seen its share price climb on news of the plan, slid 2.6 percent. Meanwhile, a 65,500 square meter parcel of land about two miles from the Disney site sold today for the record price of $174.3 million, Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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