The Hang Seng jumped 1.75% today besting Asia with gains in property developers, Insurers and
railways. China Life jumped 3.6% and China Pacific Life rose 3.5% in the Index. BoA selected Cheung
Kong, Henderson Land and New World development as their top real estate picks in China helping the
stocks to increase 4.2% and over 2% each respectively. China Railway Construction rose over 4%.
The FTSEurofirst is down .1% as investors wait patiently for Ben Bernanke’s move. Volumes are currently
at just 23% of their 90 day average. Alcatel-Lucent dropped over 12% after saying it will miss its 2012
profit guidance after a 40M Euro loss in the second quarter. Nokia had another day in the dumps losing
4.8% after being downgraded by Jefferies.
Ford, down again in pre-market, announced it will cut 15% of its workforce in Australia and reduce
production by 29%.
Commodities begin today with an upbeat outlook as gold, crude and natural gas all have gains while
silver is the one out down just over .6%.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu