By Jonathan Burgos - Feb 1, 2012 4:35 PM GMT+0700
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Pedestrians walk past an electronic stock board outside a securities firm in Tokyo, Japan. Photographer: Tomohiro Ohsumi/Bloomberg
Feb. 1 (Bloomberg) -- Peter So, co-head of research at CCB International Securities Ltd., talks about China's stock market, economy, and central bank monetary policy. China’s manufacturing unexpectedly expanded last month on increased new orders, suggesting the world’s second-biggest economy is withstanding Europe’s debt crisis and a government-induced property slowdown at home. So speaks in Hong Kong with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
Jan. 31 (Bloomberg) -- Gao Ting, chief China strategist at UBS AG, talks about China's economy growth and stock market. He speaks with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
Feb. 1 (Bloomberg) -- Andrew Sullivan, principal sales trader at Piper Jaffray Asia Securities Ltd., talks about the outlook for China and Hong Kong stock markets. Sullivan also discusses Hong Kong's budget, and a possible Facebook Inc. initial public offering. He speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)
Most Asian stocks advanced as expanding manufacturing activity in India and China tempered evidence that economies across the region and the U.S. may be slowing down.
Tata Power Co., India’s biggest electricity generator outside of state control, jumped 5.5 percent in Mumbai. Shipping stocks rallied on speculation rising cargo rates will shore up earnings. Sumitomo Heavy Industries Ltd. sank 9.6 percent in Tokyo after the machinery maker cut its full-year profit forecast by 28 percent. Australian banks fell after a gauge of home prices retreated by a record in 2011.
The MSCI Asia Pacific Index (MXAP) was little changed at 122.98 as of 6:34 p.m. in Tokyo, with about five shares rising for every four that fell. In January, the measure posted its biggest monthly advance since September 2010 amid bets China will ease lending curbs, the U.S. economy is improving and Europe is containing its debts crisis.
“Signs that the Chinese economy is heading towards a soft landing are a very good scenario.” said Ng Soo Nam, Singapore- based chief investment officer at Nikko Asset Management Asia Ltd., which oversees about $165 billion. “Some investors may be disappointed because they were hoping for faster easing of monetary policy.”
To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net
To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net
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