Tag Archives: Asian stocks

Stocks Slip After Malaysian Plane Shot Down

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

MainTrading Event Of The Day: USD Prelim UoM Consumer Sentiment @ 13.55 GMT

WHAT WE’RE WATCHING TODAY

Asian Stocks Slip After Malaysian Plane Shot Down

Asian stocks fell from near a six-year high, after one of its planes was shot down in Ukraine yesterday. The MSCI Asia Pacific Index slipped 0.5 percent by 12:51 p.m. in Tokyo, falling for the first time this week. Malaysian Airline shares tumbled 8.9 percent. Standard & Poor’s 500 Index futures fell 0.1 percent after the U.S. gauge’s biggest drop in three months. Ten-year bond yields in Australia and Japan traded near the lowest in more than a year, while a gauge of credit-default swap prices jumped five basis points. Oil in New York added 0.5 percent. With geopolitical risk in Ukraine and the Middle East, people are concerned the stock market won’t be a safe place to invest and have turned to bonds. European shares are also set for a lower open today with the FTSE called down 25 points at 6,713 and the German Dax by 57 points at 9,696.

Meanwhile, oil prices rose after Israeli Prime Minister Benjamin Netanyahu announced the start of a ground campaign in Gaza. The decision came as a surprise as officials from the Palestinian authority and Israel were believed to be progressing in talks in Egypt aimed at a lasting cease-fire.

Gold Climbs As Plane Crashes

Gold rallied yesterday as a Malaysia Airlines crash in Ukraine near the Russian border revived haven demand. Gold for August delivery rose $17.10, or 1.3%, to settle at $1,316.90 an ounce. Traders also took into consideration a weaker than expected report on U.S. housing starts, although that was offset by a stronger-than-anticipated figure for weekly jobless claims. A day earlier, gold put an end to a three-day losing streak by moving fractionally higher, as traders continued to digest Federal Reserve Chairwoman Janet Yellen’s mostly dovish testimony. Elsewhere in metals trading, October platinum rose by $18.00, or 1.2%, to $1,503.70 an ounce. Bloomberg reported platinum prices were trading at a 13-year high after sanctions imposed on Russia, which is a major producer of the industrial metal.

Google Earnings Miss Expectations

Google reported earnings that missed expectations while revenue topped Wall Street estimates on yesterday. Shares rallied in extended hours trading. The Internet giant reported earnings of $6.08 per share, excluding one-time items, on revenue of $15.96 billion. Analysts had expected the company to report earnings excluding items of $6.24 a share on nearly $15.62 billion in revenue. Revenue for Google increased 22 percent in the second quarter as it saw strong demand for ads on its websites. Analysts had been expecting the Internet giant to discuss falling online ad prices, which remain Google’s biggest source of revenue. Google will account for more than a third of global digital ad spending this year according to Dow Jones.

That sums up today’s highlights! Remember to keep an eye on all the latest economic developments of the day via our Facebook, Twitter, LinkedIn and Google+ pages. We hope you have a profitable day on the markets.

ECB: Market-Watchers Look to Draghi for Clarity

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. Non-Farm Payrolls @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

ECB: Market-Watchers Look to Draghi for Clarity

A month after the ECB president, Mario Draghi introduced a varying range of fixes for the euro area’s faltering recovery, market-watchers are in disagreement about how long interest rates will stay near zero and remain unclear on the details of plans to boost lending. Draghi may use today’s appearance in Frankfurt as an opportunity to clarify the situation. As the Federal Reserve and the Bank of England work their way out of crisis-era support for their economies, the ECB continues to steer against the risk of a relapse. Draghi’s guidance on how he expects rates to develop over the next two to four years, if he decides to give any, will be crucial in bolstering investors’ optimism that the worst is truly over, while reassuring them that protection won’t be removed before they’re ready.

The euro is currently trading below $1.37, roughly where it was when the ECB met on June 5 but down from over $1.39 before the ECB flagged the cut in May. The ECB is keeping a close eye on the euro to gauge its impact on already low inflation. Euro zone inflation stood at 0.5 percent in June, well below the ECB’s medium-term target of just under 2 percent. Should the outlook for inflation deteriorate, Mario Draghi has said that the ECB would consider quantitative easing to keep borrowing costs low and boost spending.

Asia Stocks Fall Along With Gold; Dollar Gains Before Data

Asian Stocks fell from a six-year high, while precious metals dropped as the U.S. dollar gained versus its major peers before today’s jobs reports and a euro-area monetary-policy decision. The MSCI Asia Pacific Index slipped 0.2 percent while Standard & Poor’s 500 Index futures lost 0.1 percent. The Aussie slid 0.7 percent, trading at 93.78 U.S., cents after Reserve Bank of Australia Governor Glenn Stevens said investors are underestimating the chance of currency losses. Oil in New York fell for a sixth day, its longest slump since May 2012. Australia’s currency also slid as the country’s central bank governor said it was overvalued. The Aussie is more than just a few cents overvalued and the risk of a significant fall is being underestimated according to Stevens.

The U.S. Non-Farm Payrolls report comes after yesterday’s ADP data showed U.S. employment rose in June by the most since 2012, with more workers hired than economists projected. The European Central Bank meets today after enacting unprecedented stimulus last month, while in Asia, data on services industries is due.

Watch For Google’s Streaming Music Service…

With its Songza deal, Google could end up dominating other streaming music services if it becomes the default option on Android mobile devices due to Android’s dominance among mobile devices and Songza’s ability to curate and recommend new music to its users. Android devices make up nearly 62 percent of the U.S. market for smartphones, according to research as of May 2014. With the Songza move, Google pitches itself against Spotify, Pandora and Rdio as well as Apple, which acquired Beats Music and its streaming service, and Amazon, which recently launched a streaming music service for its Prime customers. The deal could be a win for Google’s advertising business. Keep an eye on Google stocks…

That sums up today’s highlights. It’s Non-Farm Payrolls day today so a busy day on the markets. Don’t forget you can stay regularly updated on events by visiting our Facebook, Twitter, Google+ and LinkedIn pages.

We hope you have a profitable day on the markets!

Japan Consumer Prices Increase At Fastest Pace Since 1982

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: German Prelim CPI – All Day

WHAT WE’RE WATCHING TODAY

Japan Consumer Prices Increase At Fastest Pace Since 1982

Japan’s core consumer prices rose 3.4 percent in May from a year earlier, rising at their fastest pace since April 1982 according to recent data. Annual consumer prices in Japan have risen for 12 consecutive months, a positive sign for the Bank of Japan and Prime Minister Shinzo Abe’s plan to finally rid the world’s third biggest economy of deflation risks. A series of economic data released at the same time showed Japan’s household spending fell 8 percent in May from a year earlier, compared with forecasts for a 2 percent decline. Japan lifted its consumption tax to 8 percent from 5 percent in April and with consumers upping their spending before the tax increase, consumption has fallen since then. Other data showed Japan’s retail sales fell 0.4 percent in May on-year, smaller than the 1.8 percent fall anticipated by economists. Japan’s jobless rate meanwhile fell to its lowest level in over a decade and a measure of labour demand rose to its highest in two decades. Japan’s economy has been in the spotlight this week after Abe unveiled details of the next stage of this economic strategy to boost Japan’s long-term growth prospects. Japan’s benchmark Nikkei stock index showed little immediate reaction to the data, slipping 0.12 percent in early trade.

Asian Stocks Fall As Fed Says Rates May Rise

Asian stocks fell as the regional benchmark index halted its seventh straight weekly gain and slipped from a six-year high, as a Federal Reserve official indicated that the U.S. may raise interest rates by March. The MSCI Asia Pacific Index slid 0.3 percent to 145.06 with eight of its 10 industry groups falling. The measure closed yesterday at its highest level since June 2008 and is heading for a 0.3 percent gain this week. Some analysts consider it a timely warning that the time for the Fed to start raising interest rates is drawing nearer. Japan’s Topix index slipped 0.8 percent as the yen strengthened against the dollar.

US Economy Shrank More Than Expected In Q1

The U.S. economy contracted at a much steeper pace than previously estimated in the first quarter, but there are indications that growth has since rebounded strongly. GDP fell at a 2.9 percent annual rate, the economy’s worst performance in five years, instead of the 1.0 percent pace it had reported last month. While the economy’s woes have been largely blamed on an unusually cold winter, most of the revisions suggest other factors at play beyond the weather. Growth has now been revised down by a total of 3.0 percentage points since the government’s first estimate was published in April, which had the economy expanding at a 0.1 percent rate. Economists had expected growth to be revised to show it contracting at a 1.7 percent rate. Trade was also a bigger drag on the economy than previously thought. The economy grew at a 2.6 percent pace in the final three months of 2013. Data such as employment, manufacturing and services sectors point to a sharp acceleration in growth early in the second quarter. However, the pace of expansion could fall short of expectations, which range as high as a 3.6 percent rate. Economists estimate severe weather could have slashed as much as 1.5 percentage points from GDP growth in the first quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased at a 1.0 percent rate. It was previously reported to have advanced at a 3.1 percent pace. Exports declined at a 8.9 percent rate, instead of 6.0 percent pace, resulting in a trade deficit that sliced off 1.53 percentage points from GDP growth.

That sums up today’s highlights! We hope you have a profitable day on the markets.

Will The Fed Jolt The Markets This Week?

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: US Industrial Production @ 13.15 GMT

WHAT WE’RE WATCHING TODAY

Will The Fed Jolt The Markets This Week?

The Federal Reserve is expected to announce another $10 billion monthly reduction in quantitative easing in this week’s FOMC statement with the focus being on the Fed’s economic assessment, which could end up realigning investor expectations about when the Fed is likely to hike rates. In its last statement, the FOMC noted that growth in economic activity had picked up after having slowed sharply during the winter, but added that the labour market indicators were mixed and the unemployment rate remained elevated. However, the outlook has improved with the last two employment reports showing monthly non-farm payrolls growth of 282,000 and 217,000. And after a severely weak first quarter, several economists are looking forward to Q2 GDP growth around 4 percent. While the Fed is unlikely to alter its tapering plans or tweak its forward guidance, its new economic projections could still prompt speculation that the first interest rate hike may come earlier than mid-2015. Analysts are concerned that these new Fed jitters could crop up just as the market is running into geopolitical concerns surrounding the situation in Iraq and its impact on crude oil.

Asia Stocks Lower As Yen Gains On Iraq Conflict

Japanese stocks fell today as concerns over Iraq resulted in a stronger yen. The escalating conflict in Iraq continued to pressure market sentiment, pushing the cost of oil higher and sending investors toward the yen, Asia’s safe-haven currency. The yen edged a touch higher in Asian trade, with the U.S. dollar last at ¥101.84, compared with ¥102.04 on Friday. The stronger yen translated into falls for the Nikkei Average which was last down 0.7%. Australia’s S&P/ASX 200 lost 0.2%, as mining stocks dropped amid declining prices for spot iron ore, which fell 0.7% on Friday to a 21-month low. Concerns over the use of iron to finance deals and allegations of fraud involving commodities stored in China continue to rattle the market. In China, markets were mixed with Hong Kong’s Hang Seng Index down 0.2% and the Shanghai Composite was flat. Trading got off to a quiet start today, ahead of the U.S. Federal Reserve’s upcoming policy meeting. Scheduled to conclude on Wednesday, the meeting will provide a monetary-policy update for the world’s largest economy.

Russia/Ukraine Gas Deadline Passes As Talks Fail

A deadline for Ukraine to pay Russia its gas bill passed today after talks between the two sides failed to reach agreement. Russia will now switch to an advance payment system for supplying its eastern European neighbor, meaning that gas resources which also supply parts of wider Europe could potentially be shut off at any point. Russia has previously said that Kiev owes $1.95 billion for gas that has already been delivered. Under previous President Viktor Yanukovych, Ukraine had been paying a reduced price for the amount of gas that it was buying from Russia. However, after fierce street battles, a change of government in Kiev and the annexation of Crimea by Russia, Moscow ramped up the prices it charged to Ukraine. After several rounds of talks, with a representative from the European Union trying to help both sides reach a compromise, no clear solution has been found.

That sums up today’s highlights! Stay in touch throughout the day via our social media channels for all the latest market updates. We hope you have a profitable day on the markets.

U.S. Non-Manufacturing Index Data Awaited

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. ISM Non-Manufacturing PMI @ 14.00 GMT

WHAT WE’RE WATCHING TODAY

U.S. Non-Manufacturing Index Data Awaited

The Institute for Supply Management’s Non-Manufacturing index is projected to climb to 54 in April from 53.1 a month earlier following the release of today’s data. The gain would follow an increase in the group’s manufacturing gauge that showed factories expanded in April at the fastest pace this year. In March, respondents noted activity was still being hampered by adverse weather, which, along with a strengthening in new orders, should support a slight pickup in April.

In addition to the first look at the ISM Non-Manufacturing Index for April, it is worth noting that Markit also revises the previously released flash estimate of its Services PMI for last month 15 minutes ahead of the ISM release today. Business activity in services has been a bit shaky compared to manufacturing pointing to a decelerating pace of growth in the flash data for April. Analysts are concerned that there are worrying signs for future momentum in the services sector. Levels of outstanding business fell at the fastest rate since last August, and firms’ optimism about the year ahead also waned. Another weak release for the services sector may raise new doubts about the spring economic revival.

Asian Stocks Fall After Weak China PMI Data

Asian stocks fell today following disappointing Chinese manufacturing data which missed estimates. HSBC’s final reading of manufacturing activity in the mainland came in at 48.1 for April, below the bank’s preliminary reading of 48.3. The figure marked a fourth straight month of contraction, in contrast to the country’s official PMI reading that showed a reading of 50.4. Hong Kong’s Hang Seng Index retreated 1.5 percent while the MSCI Asia Pacific excluding Japan Index slid 0.3 percent. Standard & Poor’s 500 Index futures were little changed with Euro Stoxx 50 Index futures. Gold gained and Ukrainian bonds extended their decline amid violence in the nation’s east. Analysts believe there’s a big risk of a deeper economic slowdown in China given the continued weakening in the manufacturing sector. Rebalancing the economy is a challenge for the government and the market is not sure what the government intends to do next. Markets in mainland China reopen today after holidays, while Japan and South Korea are closed until May 6.

U.S. Housing Rebound Stalls

The housing market in the US has been weak lately and appears to going downhill just when many economists thought it would be heading upward. Sales of previously owned properties fell 7.5 percent in March from the previous year, to the slowest pace in 20 months, while purchases of new houses sank 14.5 percent from February. Mortgage interest rates are rising from record lows as the Federal Reserve reduces its bond-buying program. The apparent crumbling in the housing recovery is slowing the economic recovery and has, at least temporarily, removed a valuable support to GDP growth. The cooling trend follows a decade of market turmoil. Fueled by lax subprime lending, prices soared from 2004 to 2006. When the bubble burst, prices fell 35 percent from their July 2006 high, and 5 million owners went through foreclosure, which left many of them unable to qualify for a mortgage. After rebounding from a March 2012 low, the S&P/Case-Shiller index of home prices in 20 cities is at 2004 levels. Analysts believe that it’s too early to say that the market’s recovery is faltering. They have taken an optimistic view that as investor demand starts to drop off, there will be an improvement in organic demand. If this does not happen by the middle of the year, we can expect to see a change in outlook.

That sums up today’s highlights! Keep watching for all the latest news of today’s trading events! Find us on Facebook, Twitter, Google+ and LinkedIn. We hope you have a profitable day on the markets.

U.S Retail Sales Increase Anticipated

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: US Core Retail Sales @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

U.S Retail Sales Increase Anticipated

Weekly surveys have suggested some improvement during the month, alongside firm consumer confidence, with sales at U.S. retailers jumping 0.9 percent in March, the biggest gain since September 2012, according to Bloomberg. An increase of 0.5% in retail sales excluding autos is forecast. Analysts say that the severe winter weather depressed consumer spending in recent months and that pent-up demand has been slow to show up in the data.

Stocks Decline Amid Wall St Gloom & Ukraine Tensions

Asian shares declined early today after a gloomy week on Wall Street and tensions in Ukraine sapped investors’ appetite for risk, which helped underpin the safe-haven yen. The glum sentiment is set to carry through to Europe with Britain’s FTSE 100 expected to open about 0.6 percent lower, Germany’s DAX to start down 0.9 percent, and France’s CAC 40 off 0.8 percent. Ukraine gave pro-Russian separatists a Monday morning deadline to disarm or face a “full-scale anti-terrorist operation” by its armed forces, raising the risk of a military confrontation with Moscow. European Union foreign ministers will hold talks later on Monday about tougher sanctions against Russia. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.5 percent, pulling further away from five-month highs hit on Thursday. Japan’s Nikkei stock average briefly turned positive during Friday’s session, but ended down 0.4 percent at a six-month closing low. The Nikkei stumbled 7.3 percent last week, its biggest weekly fall since March 2011. The Nasdaq closed below the 4,000 mark for the first time since early February as investors bailed out of high-flying technology and biotech shares. Investors are wary that Wall Street’s rout may continue.

Data Influx From China Awaited

Important data from China, the world’s second-largest economy is likely to be a key focus for market players this week, with first-quarter growth domestic product (GDP), March retail sales, industrial output and fixed asset investment (FAI) set to be released on Wednesday. GDP is expected to rise 7.3 percent, which would mark China’s slowest pace of growth since 2009 and come in well below the 7.7 percent reading in the final quarter of 2013. However, the government is unlikely to be taking any short-term easing measures to combat economic volatility as it did in 2009 since they are less efficient than natural market forces in boosting growth.

That sums up today’s highlights! Stay in touch with us throughout the day for up-to-date news and important trading information. You can find us on Facebook, Twitter, Google+ and LinkedIn.

We hope you have a profitable day on the markets.

U.S. Stocks Gain After Data While Asian Stocks Rebound

Here’s Friday’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the markets:

Main Trading Event Of The Day: CAD Retail Sales m/m @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

U.S. Stocks Gain After Data While Asian Stocks Rebound From Biggest Decline In Seven Months

U.S. stocks rose for the third time this week as reports on leading indicators and regional manufacturing fuelled optimism in the economy, overshadowing concern, following Wednesday’s FOMC meeting, that interest rates may rise in the middle of next year. The Standard & Poor’s 500 Index gained 0.6 percent to 1,872.01 at 4 p.m. in New York. The Dow Jones Industrial Average added 108.88 points, or 0.7 percent, to 16,331.05. Both gauges erased most of yesterday’s declines. Asian stocks, meanwhile, rose with a regional index of shares outside Japan rebounding from the biggest loss yesterday since August. The MSCI Asia Pacific excluding Japan Index advanced 0.7 percent to 452.10, paring this week’s slide to 0.4 percent. The measure fell 1.7 percent yesterday, taking its loss this year to 4.1 percent as data from exports to industrial output showed signs of a slowdown in China and Federal Reserve Chair Janet Yellen indicated U.S. interest rates could rise as soon as six months after the end of the central bank’s bond-buying program. Analysts claim to be not overly cautious and that the focus will be directed back towards China on Monday.

European Markets Set For Lacklustre Open Following Banking Reform News

European markets are expected to have a subdued open after a busy week, as the market absorbs concerns about the Federal Reserve and banks. The FTSE was down 4 points to 6538, the Dax is seen steady at 9296 and the Cac up 1 point to 4328. On Thursday, the European Union finally agreed the terms to complete the region’s banking union. It was also a relatively quiet news day in the Ukraine crisis, with more sanctions announced, and a downgrade of Russia’s credit rating by Standard & Poor’s. In the U.K., data on public sector finances and UK banks external claims is expected at 9.30 GMT.

Time Is Of The Essence For Apple To Launch iWatch

Apple needs to launch an iWatch sooner rather than later, analysts say, or the company will risk losing its innovative edge to rivals. Apple also risks missing the huge opportunity that exists in the fast-growing wearable space if it doesn’t come out with something soon as there is no doubt that this sector is suddenly getting crowded. Pressure is coming from companies like FitBit and Jawbone who are making these devices and building an ecosystem around these wearables. There’s no shortage of speculation about what an iWatch will do, or when it will come out, but until Apple makes it official, the device is still completely hypothetical. Still, analysts who cover the company seem fairly certain that the company will debut a wearable product in 2014, particularly because wearables would be a natural fit for Apple’s ecosystem. The pressure is on for Apple and although it is not in the company’s style to rush things, they shouldn’t wait too long…

That sums up Friday’s highlights! Stay up-to-date with all the trading events and market news via our Facebook, Twitter, Google+ and LinkedIn pages! We hope you have a profitable day on the markets and wish you a great weekend!

Just A Minute!

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the markets:

Main Trading Events Of The Day: USD ADP Non-Farm Employment Change @ 13.15 & USD ISM Non-Manufacturing PMI @ 15.00 GMT

WHAT WE’RE WATCHING TODAY

U.S. Jobs Data On The Way…

With the focus having been on the situation in the Ukraine, the attention is back on U.S. economic reports today. The ADP report gives a hint of what the jobs report might look like on Friday. U.S. employers hired 150,000 workers in February, after adding 113,000 in January, according to a Bloomberg News survey. A report from ADP Research Institute today will show companies boosted payrolls by 155,000 last month after an increase of 175,000 in January. Employment gains for December and January were both less than economists forecast, depressed by winter storms. Weak data is explicable on account of the weather seems to be the mantra right now and the consensus is that it will take a couple of bad reports to disillusion investors at this point. In addition, the ADP report has been a wildcard in recent months in that it has been an inaccurate gauge of data from the U.S. Bureau of Labor Statistics.

Federal Reserve Chair Janet Yellen reiterated on Feb. 27 that the central bank is likely to keep curtailing its stimulus. The central bank said on Dec. 18 it would trim its monthly bond purchases to $75 billion from $85 billion, before cutting by another $10 billion in January. The purchases are designed to hold down long-term borrowing costs and spur economic growth.

Asian Shares Jump And Yen Recovers As Ukraine Tension Eases

Asian stocks jumped and the yen recovered after a sharp tumble on Wednesday, after Putin said that force was not needed for now. The markets took Putin’s words positively and with wariness over the Ukraine easing for the time being at least, the focus has shifted back to fundamentals, notably Thursday’s European Central Bank monetary policy meeting and Friday’s U.S. nonfarm payrolls report. However, despite the widespread relief, market watchers warned that the crisis was not over, warning of further jolts for the financial markets ahead. The easing of geopolitical tensions saw a reversal of yesterday’s movements in most asset markets. However, tensions remain high and suggest some further volatility in financial markets while the situation in Ukraine remains uncertain.

The Australian dollar, already on a bullish footing after cooling of tensions in Ukraine revived risk appetite, received a further boost after data showed Australia’s economic growth had beaten forecasts, reinforcing expectations of a steady interest rate outlook. The AUD was at $0.8947 from a low near 89 U.S. cents. Australia’s major trading partner China has said it will maintain its economic growth target for 2014 at around 7.5 percent as expected and push forward convertibility of the yuan. Analysts said the statement was an indication that China would widen the yuan’s trading band going forward as expected, further signaling a possible end to the currency’s one-way appreciation.

The yen, which rallied on its safe-haven appeal this week as tensions mounted in Ukraine, remained on the back foot after a heavy reversal on Tuesday. The dollar was buying 102.14 yen, moving away from a one-month low of 101.20 hit on Monday, while the euro bought 140.29 yen, after touching a two-week low of 138.75 yen on Thursday.

Tech News: PC Market Fell Hardest In 2013, Analyst Firm Says

The traditional PC industry saw its sharpest decline ever in 2013, and the sales drought is expected to continue through 2018 according to analysts, IDC. PC shipments fell by 9.8 percent overall last year, the sharpest drop on record. While the fourth quarter actually performed better than expected, IDC said that sales dried up in emerging markets, dipping 11.3 percent - evidence that tablets and phones are cutting into sales all across the world. 315.1 million PCs shipped in 2013, and 295.9 million are expected to be sold in 2014, a 6 percent dip. By 2018, the PC market should drop to annual sales of 291.7 million units.

Emerging markets used to be a core driver of the PC market, as rising penetration among large populations boosted overall growth but right now, emerging regions are finding themselves more affected by a weak economic environment as well as significant shifts in technology buying priorities. In making its projections, IDC said it factored in a number of variables, including concerns about the impact of slower economic growth and continued pressure from tablets and smartphones.

That sums up Wednesday’s highlights! We hope you have a profitable day on the markets.

Just A Minute!

Here’s Tuesday’s ‘Just A Minute’ bringing you a 60 second summary what’s happening in the markets today:

Main Trading Events Of The Day: U.S. Fed Chair Yellen Testifies @ 15.00 GMT; U.S. JOLTS Job Openings @ 15.00 GMT

Earnings Reports: Look out for AIG coming up Thursday.

WHAT WE’RE WATCHING TODAY

Analysts Expecting Janet Yellen To Emphasise Continuity

All eyes will be on Federal Chair Janet Yellen later today as she testifies on monetary policy and the U.S. economic outlook. Financial markets will be watching closely for any signal that Yellen is contemplating policy changes even though economists think such a signal is highly unlikely. Yellen’s appearance is of particular interest because it follows two weak monthly jobs reports and a spate of market volatility largely tied to turmoil in emerging markets. Her testimony comes four days after the release of the government’s nonfarm payrolls report, which had the economy creating a lower-than-estimated 113,000 jobs in January and the unemployment rate falling to 6.6 percent, a five-year low and not all that far from the Fed’s threshold for reducing stimulus. Stocks ended with modest gains on Monday as investors digested recent market gains and looked ahead to new Federal Reserve Chair Janet Yellen’s first testimony before lawmakers.

Asian Stocks In Biggest Leap Since November

Asian markets continued to climb ahead of Janet Yellen’s first public appearance as chair of the US Federal Reserve. Major indices in the region were positive, with Hong Kong’s Hang Seng leading with a 1.8 per cent gain, its third climb in four sessions. The Shanghai Composite added 0.9 per cent to Monday’s 2 per cent gain while South Korea’s Kospi was on pace for a fifth straight daily gain with a 0.5 per cent rise. The solid gains were notable following a less than enthusiastic session on Wall Street, where the S&P 500 nudged forward 0.2 per cent. Blue chips were relatively unmoved. A gauge of Asian stocks outside Japan rose, heading for its biggest advance since November. Investors believe that Yellen is going to be dovish given the recent weakness in U.S. employment numbers and that long term investors could start accumulating Chinese shares. Valuations are cheap but investors need to bear in mind that financial conditions might remain tight as the government reins in excessive credit growth.

Is Cash Cow Microsoft A Good Buy?

Microsoft is a great cash cow of a company and has a strong position in cloud computing, a growing market. The company’s stock has risen by more than 10% since Ballmer announced he was stepping down. Compared to other tech giants, Microsoft is relatively cheap and pays a healthy dividend, so, should you buy? There are one or two signs to cautious of. Microsoft faces a serious long-term challenge that may prove very damaging. First of all, there’s Microsoft’s weak position in smartphones and tablets which is certainly a major problem but the main concern is that Microsoft’s near monopoly on desktop operating systems is under threat. Asus has just launched a budget desktop PC in the U.S. that is retailing for just $179, almost 50% cheaper than the cheapest PC produced by Hewlett-Packard. It manages to do this using Google’s Chrome OS operating system, which Google gives away free. By contrast, the Hewlett-Packard PC uses Windows which is not free; Hewlett-Packard has to pay a licence fee to Microsoft. Two of the three top-selling laptops on Amazon.com over Christmas were Chromebooks, powered by Chrome OS and this is a trend expected to continue. If you are considering investing in Microsoft, remember that although it is still early days for Chrome OS, the momentum as we have seen, is beginning to build.

That sums up Tuesday’s highlights! We hope you have a profitable day on the markets.

South Korea to Extend Trading Hours

Asia’s fourth-biggest equity market has been under-performing with local trading volumes falling into a six-year long decline, pushing North Korea’s bourse operator to consider extending trading hours.

Korea’s six-hour trading day may be prolonged by the Korea Exchange within the next five years in an attempt to increase its liquidity in the $1.2 trillion market. The announcement comes as the first plan for development taken by Choi Kyung Soo since becoming the chairman of the Exchange in October. In an emailed statement earlier today, the bourse mentioned that it will consider the purchase of foreign alternative trading systems and exchanges in the next three years.

The significant outflows from South Korea’s individual investors extended into a fifth year, pushing the turnover of Kospi (KOSPI) index shares to its lowest level since 2007, and the exchange is not betting on increased demand from foreign money managers in order boost its trading volume. In the second half of 2013 the Kospi received $12.9 billion from foreigners buying South Korean shares, helping the index advance 7.9 percent. So fat this year, however, the index lost 2.6 percent.

In a press conference held in Seoul earlier today, Choi stated: “The new plan is in place to lure more foreign investors into the local market and boost the overall trading volume.”

About half of the equity trading on the benchmark Kospi index last year came from individual investors who sold a net $5.3 billion shares. According to Choi, the extension of hours may be implemented as early as within the first half of 2014, following discussions with industry officials.

A second plan of the Korea Exchange, furthermore, sees the introduction of futures contracts on the Kospi 200 Volatility Index, a gauge of anticipated price fluctuations in the country’s stock market.

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