View in Other Languages Asian Markets Overview of March 30, 2010: Ericsson (NYSE:ERIC) Secured US$1.8B Deals with China Mobile (HKG:0941) and China Unicom (HKG:0762) 2010年3月30日亚洲市场纵览:爱立信(NYSE:ERIC)获得中国移动(HKG:0941)和中国联通(HKG:0762)18亿美元交易 2010년 3월30일 아시아 시장동향: Ericsson (NYSE:ERIC), China Mobile (HKG:0941) 및 China Unicom (HKG:0762)과 총18억 달러(U$) 계약 체결 2010年3月30日亞洲市場縱覽:愛立信(NYSE:ERIC)獲得中國移動(HKG:0941)和中國聯通(HKG:0762)18億美元交易 نظرة شاملة على الأسواق الآسيوية في 30 مارس 2010:  Ericsson NYSE:ERIC تؤمن صفقات بمبلغ 1.8 بليون دولار أمريكي مع China Mobile HKG:0941 و China Unicom HKG:0762 アジア市場レポート 2010年3月30日: Ericsson (NYSE:ERIC) が China Mobile (HKG:0941) と China Unicom (HKG:0762) との間で18億米ドルの契約を確保 
Swedish telecommunications equipment vendor L.M. Ericsson (NYSE:ERIC) said Monday it has signed framework agreements to provide network equipment for China's mobile service giants.
Swedish telecommunications equipment vendor L.M. Ericsson (NYSE:ERIC) said Monday it has signed framework agreements to provide network equipment for China's mobile service giants.

Sydney, Mar 30, 2010 AEST (ABN Newswire) - Monday Wall Street rose as higher commodities prices boosted energy and mining companies. The US markets also received support from positive consumer spending in February. Asian markets closed mixed yesterday. Chinese stocks rallied as China said it plans to launch the long expected stock-index future in April 16. Shanghai Composite jumped 2.1 per cent to a two month high, while Hong Kong's Hang Seng Index climbed 0.9 per cent. South Korea's Kospi Composite was 0.3 per cent lower. Japan's Nikkei 225 lost 0.1 per cent.

Company News

Swedish telecommunications equipment vendor L.M. Ericsson (googlechartNYSE:ERIC) said Monday it has signed framework agreements to provide network equipment for China's mobile service giants. Ericsson secured a US$1 billion deal with China Mobile Ltd. (googlechartNYSE:CHL) (googlechartHKG:0941) to provide radio access equipment, which will boost the network's capacity and evolve it into an Internet Protocol, or IP, network. The Swedish company was also awarded a US$800 million contract by China Unicom (googlechartNYSE:CHU) (googlechartHKG:0762)s to provide a faster third-generation network with HSPA Evolution technology, as well as IP and broadband equipment.

Japan's Nippon Steel Corp (googlechartTYO:5401) has reached a tentative agreement with Brazilian mining giant Vale (googlechartNYSE:VALE) to pay US$100-$110 per tonne of iron ore in the April-June quarter, reported a Japanese media. This represents a 90 per cent increase from the price in fiscal 2009.

Taiwan-based Formosa Plastics Corp. (googlechartTPE:1301) said its net profit jumped 40 per cent in 2009 because of higher investment income from affiliates. Net profit for the 12 months ended Dec. 31 was NT$27.53 billion, up from NT$19.71 billion in 2008.

Macau casino operator SJM Holdings Ltd. (googlechartHKG:0880) reported a 14 per cent rise in 2009 net profit thanks to stronger gaming revenue in the second half. Its net profit for the 12 months ended Dec. 31 was HK$906.7 million, up from HK$796.1 million a year earlier. The result was better than market forecasts while the company posted a 41% fall in first-half net profit on top of a 48% drop in 2008. SJM said it doesn't expect the Macau government's new policy to cap gaming tables to significantly impact the company's business.

Contact

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net


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