Asia Wrap: Samsung Predicts Major Gains. Alibaba Seeks HK Listing. North Korea Extends Olive Branch.

by | 9 Jan, 2018

Samsung Predicts Major Gains

Samsung predicts major gains

Samsung Electronics released new forecasts earlier today showing they expect Q4 operating profit at the firm to be its highest ever, up 64 per cent year on year to 15.1T won ($14.1bn). 

However the operating profit forecast came in slightly below the 15.9 trillion won estimated by analysts surveyed by Reuters, pulling shares down over 3 per cent in South Korea on the KOSPI index on Tuesday. Samsung Electronics is the largest stock on the index by market capitalization.

Alibaba in Focus

Elsewhere in Asia, Alibaba founder Jack Ma has promised to seriously consider listing the e-commerce behemoth in Hong Kong.

Speaking at an event in Hong Kong Monday, Ma said: We will definitely consider Hong Kong’s market. We hope we can further invest in Hong Kong and enhance our participation in the city’s economy.”

In 2014, Alibaba chose New York instead of Hong Kong to host its $15bn IPO, as it had tighter rules on voting rights for shareholders.

North Korea offers south an olive branch

In geopolitical updates, North Korea has officially agreed to send athletes and a delegation to next month’s Winter Olympics in South Korea, representing a step forward in relations between the two nations at a time of immense tension on the Korean Peninsula.

The South has also proposed holding military talks with the North to prevent further escalation, according to a report in CNN this Tuesday.

Macron denounces protectionism in talk with China’s Xi

French leader Emmanuel Macron offered to open up France to Chinese investment in exchange for greater access to Chinese markets for French companies, warning that existing trade imbalances would lead to market protectionism.

Macron is on a three-day state visit to China, hoping to start to remedy France’s €30bn trade deficit with the country. Macron said: “We have an access to markets which is unbalanced, unsatisfying.”

Asia stocks

In Asian indices today the TOPIX outperformed while India’s NIFTY50 saw a highly volatile trading session, moving from 10,645 at the open to 10,604 in afternoon trading, finally closing at 10,637 points.

Under Armour Stock Suffered

The chart shows the performances for the TOPIX, FTSE Hong Kong Index, NIFTY50, KOSPI and Shanghai SSE Composite index this Tuesday January 9

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ALL RIGHTS RESERVED © INVSTR LTD. 2017

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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