NTDTV
Market Report – Glimmer of Light

(NTDTV)
Today Japan’s tankan survey of business sentiment showed the first improvement in two years. It comes as exports and production clawed back from the sharpest post-War downturn ever.
Still, improvement was less than expected, although China offset some concerns, as its manufacturing survey showed its economy is regaining ground.
But a sharp fall in planned Japanese capital expenditure this year indicated companies are not convinced of global recovery yet.
Japan’s Nikkei eased, but found support as Mitsubishi UFJ Financial rose after announcing plans to pool lending resources with Morgan Stanley to win investment banking business.
The pact calls for a joint venture that would provide loans to companies in North America, with combined lending commitments over $100 billion.
Japan’s No.2 airline ANA fell on news it planned to raise over $1.6 billion in a public share offering, its first in over three years.
A slower-than-expected decline in South Korean exports helped major tech firms, but elsewhere in Asia, weakness in U.S. consumer confidence weighed on optimism.
And Australian miners BHP and Rio Tinto declined with metals prices, pushing the Sydney benchmark lower.

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