Monday, September 21, 2009

Asian stocks retreated from 13 month highs while commodity prices dipped

Market Report - Asian Stocks Retreat

Market Report Asian stocks retreated from 13-month highs while commodity prices dipped. It came after U.S. data gave a conflicting picture of the strength of recovery from the global recession.

Japanese shares declined slightly ahead of a 5-day holiday, as investors took profits after a recent run up and sold shares of yen-exposed exporters. Currency-watchers say a brief respite in U.S. dollar weakness likely would not be sustained, and the yen could fall below 90 per dollar.

Japanese financial stocks fell after a Japanese consumer finance firm asked for its debt repayments to be rescheduled. It came after the nation's new banking minister said he would like to introduce a moratorium on some loan repayments by small firms.

Commodity-linked stocks like mining giant BHP Billiton declined after a mild dip in metals prices, while oil also edged lower.

Gainers included Taiwan's share benchmark, which rose to a near 15-month closing high, and Seoul's KOSPI, which will have FTSE developed market status starting Monday.

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Who is Jim Rogers ?

James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator

Mr. Jim Rogers is Independent Director at Xylem, Inc., a Member-American Section at Société de Chimie Industrielle, a Member-Executive Committee at Sequoyah Corp., a Member at The Business Roundtable, and a Member-Executive Committee Sequoyah Council at Boy Scouts of America.

He is on the Board of Directors at Xylem, Inc. and LORD Corp.

Mr. Rogers was previously employed as a Member by American Chemistry Council, Inc., President by United Way of Greater Kingsport, Executive Chairman by Eastman Chemical Co., Chairman & Chief Executive Officer by Eastman Ventures, Chief Financial Officer & Executive Vice President by Building Materials Corp. of America, Chief Financial Officer & Executive Vice President by GAF Corp., Executive Vice President-Finance by International Specialty Products, Inc., Treasurer by Amphenol Corp., Vice President-Finance by Morgan Guaranty Trust Company of New York, and Naval Aviator by United States Navy.

He also served on the board at Genencor International, Inc.

He received his undergraduate degree from the University of Virginia and an MBA from The Wharton School of the University of Pennsylvania.