Nikkei jumps 4.6 pct as banks rise after Citi news (click title to entry - thank you)
Wed Mar 11, 2009 2:08am EDT
Wed Mar 11, 2009 2:08am EDT
TOKYO, March 11 (Reuters) - Japan's Nikkei stock average gained 4.6 percent on Wednesday, its biggest percentage rise in six weeks, as financial shares climbed after Citigroup's (C.N) chief executive said the U.S. bank was making profits.
Toshiba Corp (6502.T) surged more than 9 percent after a newspaper reported it may see an operating profit of about 100 billion yen ($1 billion) in the next business year, while other tech shares climbed in the wake of strong gains by their U.S. peers.
The benchmark Nikkei .N225 rose 321.14 points to 7,376.12, a day after posting a 26-year closing low. The broader Topix rose 2.7 percent to 722.28. (Reporting by Elaine Lies)
Toshiba Corp (6502.T) surged more than 9 percent after a newspaper reported it may see an operating profit of about 100 billion yen ($1 billion) in the next business year, while other tech shares climbed in the wake of strong gains by their U.S. peers.
The benchmark Nikkei .N225 rose 321.14 points to 7,376.12, a day after posting a 26-year closing low. The broader Topix rose 2.7 percent to 722.28. (Reporting by Elaine Lies)
Now I know we are going places. The South African Rand had gains today. Nice. Very nice. Gold held some more value today as well.
Everything in moderation, steady as we go.
South African Rand Rises Against Dollar, Reversing Earlier Drop (click here)
By John Kohut
March 11 (Bloomberg) -- South Africa’s rand rose, reversing an earlier decline against the dollar.
The rand strengthened 0.3 percent to 10.2537 per dollar at 1:31 p.m. in Johannesburg, after earlier losing as much as 1.4 percent. Against the euro, it was little changed at 13.0480. The rand slid as much as 1 percent versus the common European currency earlier.
Government bonds retreated, with the yield on South Africa’s benchmark 13.5 percent note due September 2015 rising five basis points to 7.95 percent. Yields move inversely to bond prices.
To contact the reporters on this story: John Kohut in London jkohut@bloomberg.net. Last Updated: March 11, 2009 07:42 EDT
By John Kohut
March 11 (Bloomberg) -- South Africa’s rand rose, reversing an earlier decline against the dollar.
The rand strengthened 0.3 percent to 10.2537 per dollar at 1:31 p.m. in Johannesburg, after earlier losing as much as 1.4 percent. Against the euro, it was little changed at 13.0480. The rand slid as much as 1 percent versus the common European currency earlier.
Government bonds retreated, with the yield on South Africa’s benchmark 13.5 percent note due September 2015 rising five basis points to 7.95 percent. Yields move inversely to bond prices.
To contact the reporters on this story: John Kohut in London jkohut@bloomberg.net. Last Updated: March 11, 2009 07:42 EDT
I'll tell you something. The 'better balanced' the world's economies are the 'safer' investors will find their holdings.
When currency like the South African Rand makes in roads against a strong dollar it tells me that we are on the right track. There should be good equity in every country. Viable economies for all people on Earth. Consumer spending in every country with manufacturing in every country and rigorous trading partnerships is the way I see this planet. Green economies everywhere for people in love with life and the joy of success by each other in placing high quality goods in the market place.
We can do this. I know we can. The economies of the world need 'strength training' and endurance runs. Not to fast, not to slow. High quality durable goods for a market place that is benevolent and well by all people. It has to come to pass.
Watch the inventories, manufacture to demand and don't cheapen the quality of any product. Do not over extend in hopes of 'busting' into a market. We aren't anywhere near that type of optimism and it usually leads to losses and not gains.
Don't 'cheapen' the market place. There is nothing wrong with people saving for what they want in big ticket items either. The market place needs to move away from 'the now generation satisfaction' feeling. When consumers 'save' it improves banks and liquidity. Nothing wrong with credit as long as its good quality credit. There is no 'rush' to any return of stockholder receipts. Patience is a virtue and all have to appreciate it, including the consumer.
High quality goods equal strong bottom lines and that equals well paid and well cared for employees. No more MESS. The people that can maneuver this well in the market place know how to 'grow' economies that will endure.
Build strong 'baseline' economies and investors will never find themselves in this position again. I promise you. Stong 'baselines' add security to speculation and investing. Don't ever over extend again and never tap into the 'rock solid baseline' an empire can be built on. NEVER !
We can do this ! Oh, yes we can !
