Despite the adverse environment under the global economic slowdown and dwindling market demand, Overseas Chinese Town (Asia) Holdings Limited (HKG:3366), together with its subsidiaries the "Group"), a top-of-the-line paper packaging products manufacturer in China, finds its principal business keeping a steady development pace.
Yesterday the Australian shares posted a modest gain as the market saw the rising oil prices and increased optimism about the outlook for commercial banks. The benchmark S&P/ASX200 index rose 18 points, or 0.54 per cent, at 3345.5, while the broader All Ordinaries index was 15.9 points higher, or 0.48 per cent, to 3297.4.
Asian markets ended higher on Wednesday. Tokyo stocks jumped 2.7% as yen's weakness boosted the Japanese exporters. South Korea and China markets delivered a modest rise of 0.3% each. Hong Kong's Hang Seng surged 1.6%.
Australian share closed at their five-year low point. The benchmark S&P/ASX200 was down 0.1%, or 4.1 points, at 3327.5, while the broader All Ordinaries index also fell 0.1%, or 3.5 points, at 3281.5.
Yesterday the Australian stocks closed lower on all sectors. The benchmark S&P/ASX200 lost 51.1 points, or 1.48 per cent, at 3,413.2, while the broader All Ordinaries dropped 45.3 points, or 1.33 per cent, to 3,366.9. The local market has fell 4.1% so far this week, and the shares may see a further drop after base metal and oil prices lower.
Yesterday the Australian shares fell 1.2 per cent after the weak lead from Wall Street last week. The benchmark S&P/ASX200 dropped 42.2 points, or 1.2%, at 3,516.9, while the broader All Ordinaries index was down 35.4 points, or 1%, to 3461.3. Lacking lead from the US, the market attention will be on recent Chinese and Japanese takeover bids for the Australian companies and a string of corporate results.
Yesterday the Aussie market ended higher amid expectations debt-laden Rio Tinto would announce the A$30 billion deal with Chinese steelmaker Chinalco. The benchmark S&P/ASX200 was up 39.9 points, or 1.15 per cent, at 3,514.3, while the broader All Ordinaries rose 40.4 points, or 1.18 per cent, to 3,458.5. Today investors will also be looking to the proceeding of government's A42$ billion economic stimulus package as Parliament will debate a new version after the Senate rejected the government's first proposed plan.
