GEN: On The Fly: Morning Wrap-Up for Monday, July 30 - Globex SP' futures trading 3.00 above previous night's SPX cash close. Nikkei 225 17,289.30 up 0.30%, DAX 30 down 0.68%. WTI Crude oil $76.67 down 0.45%. Gold $673.90. LME Copper down 0.13%. International Financial Head Lines: HSBC-HBC, Europe's largest bank, reported 1st half profits rose 25% on $1 billion extraordinary gain on its China business. Nippon Steel, the world's second largest steel producer, reported a 1st quarter profit increase of 16%. Dow Jones & Bloomberg.
GEN: On The Fly: Asian Markets Wrap-Up for Monday, July 30th - Asian markets reversed losses, driven by an increase in industrial production in South Korea and positive earnings reports in Japan, that offset concerns of weak U.S. housing data... JAPAN: Shares gained, reversing early losses as the Nikkei 225 closed modestly higher, up 0.03%, to 17,289.30; the Topix gained 0.35%, to close at 1705.71. Steelmakers led the advancers, including JFE Holdings Inc, after reporting better than expected profits and improved earnings forecasts. Some exporters declined, like Canon Inc (CAJ) and Sony Corp (SNE), after U.S. residential investments slumped, raising the concerns that the U.S. economy will slow... SOUTH KOREA: A government report said that industrial production increased nearly twice as much as expected, led by chips, autos and mobile phones, which account for a third of the nation's exports. Samsung Electronics advanced on the news, as the Kospi climbed 1.25% higher, to 1906.71. Credit Suisse upgraded Kia Motors to Neutral from Underperform on expectations that currency gains would erode earnings. SK Telecom (SKM), the nation's largest wireless operator, was cut by Lehman Brothers to Equal Weight from Overweight citing the "disappointing" earnings forecast for the second half... AROUND ASIA: Korean-based Doosan Infracore Co said it would buy an Ingersol-Rand Co (IR) unit to expand overseas... Reliance Energy Ltd won a $4.9B contract to build a 4,000 MW plant in central India... Data gathered from Bloomberg.com.
Source: Fly on the wall
