Orient Overseas (International) Limited
Orient Overseas (International) Limited (OOIL) (HKG:0316) is an investment holding company. The company has three principal business activities: container transport and logistics services, ports and terminals, and property development and investment. Container transport and logistics include global containerized shipping services in trade lanes, covering Trans-Pacific, Trans-Atlantic, Asia/Europe, Asia/Australia and intra-Asia trades, and integrated services over the management and control of effective storage and flow of goods. OOIL's wholly owned subsidiary, Orient Overseas Container Line Limited, is an integrated international transportation, logistics and terminal company, providing a range of logistics and transportation services throughout China. The Company's property development and investment division focuses on investments primarily in China. It has an 8% interest in Beijing Oriental Plaza, a commercial and office development in Beijing, and owns Wall Street Plaza in New York City.
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US market was closed yesterday for public holiday. European shares gained on the back of higher commodity prices overnight. Asian markets ended mixed on Monday while traders are awaiting US corporate earnings. Japan's Nikkei 225 fell 1.2%, Hong Kong's Hang Seng Index dropped 0.9%, China's Shanghai Composite rose 0.4%, South Korea's Kospi gained 0.6% and Taiwan's Taiex slipped 0.2%.
Asian markets opened mixed Friday. Japan's Nikkei average jumped above 8000 points in early trade while South Korea's Kospi was higher led by shipbuilders and steelmakers. Other markets include Hong Kong, Singapore and Shanghai opened flat following the falls on Wall Street.
Most major Asian indexes ended higher on Monday except for the Japan market. Tokyo stocks hit by the bankruptcy of nonbank lender SFCG dropped 2.8% in early trading and ended 0.5% at the close. South Korea's Kospi jumped 3.2%, China's Shanghai Composite added 2% and Hong Kong's Hang Seng Index surged 3.8%. This morning the Nikkei average extended its tumble after US stocks sank to a record low since 1997.
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