Asian Shares Fell On Wall Street

Asian shares fell broadly today while the US dollar was able to hold its position firm after a slump on Wall Street and tensions over Ukraine overpowered markets with a risk aversion mood. Upbeat US economic data (due to a surprisingly large increase in factory orders) was overwhelmed by geopolitical concerns.

European shares were expected to open lower today after a sell-off in equities globally was prompted by deterioration in the situation in Ukraine. US and Asian shares extended falls after it was reported that Russian troops were massing at the eastern Ukrainian border. Russian President Vladimir Putin issued orders to prepare retaliatory measures against the latest round of Western sanctions.

“Looking ahead to European trade, we are calling the major European bourses lower as they also play catch up to losses seen around the globe,” Stan Shamu, market strategist at IG, said in a trading note.

“President Putin reportedly ordered his government to investigate retaliatory sanctions against the EU and U.S. There is also renewed build-up of Russian troops at the Ukraine border resulting in fears of Russia invading Ukraine.”

The drag from Wall Street was enough for regional markets and MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipped 0.4 percent. Since September 2011, German industrial orders posted their biggest monthly fall in June as companies became more cautious about taking out contracts because of geopolitical developments.

The Dow .DJI had already dropped 0.84 percent on Tuesday while the S&P 500 .SPX lost 0.97 percent and the Nasdaq .IXIC lost 0.71 percent. The US dollar hit its highest against a basket of currencies.

Asian Stocks Hit Peak Of Three Years On Upbeat U.S. Data

Asian Stocks Hit Peak Of Three Years On Upbeat U.S. Data

On Friday, Asian shares rose to a three-year peak though the US dollar inched away from overnight highs hit on U.S. jobs data that underscored the strength of the economic recovery.

After recent gains, European stocks were seen taking a breather with financial spreadbetters expecting Britain’s FTSE 100 to open 3 points higher and Germany’s DAX to open between flat and 1 point higher.

“Given the strong gains seen already this week, and the absence of U.S. markets for the 4th July Independence Day long weekend, it seems likely that we will probably see a fairly quiet end to what has been a very positive week, with European markets set to open pretty much where they finished off yesterday,” said CMC Markets senior analyst Michael Hewson in a note to clients.

Japan’s Nikkei stock average rose 0.6 percent to hit a 5-1/2-month high. France’s CAC 40 was expected to edge 7 points lower, or 0.2 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 percent.

“The data is driving investors today, and there is no incentive to sell,” said Kyoya Okazawa, head of global equities and commodity derivatives at BNP Paribas in Tokyo.

U.S. nonfarm payrolls rose by 288,000 last month and the unemployment rate fell to 6.1 percent.

“The dollar’s gains look limited considering how strong the jobs data was, as participants are still unsure how U.S. inflation pans out,” said Junichi Ishikawa, market analyst at IG Securities in Tokyo.

“The possibility of Fed’s Chair Janet Yellen shifting to a more hawkish stance has added to the uncertainty. Upcoming data such as retail sales, consumer prices and personal consumption expenditure (PCE) may help clear the mist, if they point to an inflationary trend taking hold.”

Asia Spooked By Loss Of Wall Street

On Wednesday, Asian shares caught gloom of the Wall Street while the United States dollar was on track for a sixth losing session against the Japanese Yen after the Bank of Japan upgraded its view on capital expenditures. The BOJ maintained its overall upbeat economic assessment.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipped 0.1 percent, after U.S. stocks fell in a broad selloff. Japan’s Nikkei stock average .N225 skidded 0.6 percent. The dollar lost about 0.1 percent against the yen to 101.24 yen.

“The market is already jittery about falling U.S. bond yields leading to a weak dollar-yen. Kuroda’s comment dismissing the possibility of further easing again won’t do any good to the mood,” said Hiromichi Tamura, chief strategist at Nomura Securities.

In commodities trading, U.S. crude rose 0.6 percent to $102.90 per barrel being supported by a disruption in the oil output of Libya and an unexpected draw in U.S. crude oil inventory according to industry data. Spot gold was up about 0.1 percent on the day at $1,295.50 an ounce.

Appeal of the US dollar was undermined by the recent downtrend in U.S. Treasury yield. On Tuesday, the yield on benchmark U.S. 10-year notes inched up to 2.51 percent in Asia from its U.S. close of 2.50 percent but it remained close to half-year lows.

Google And Apple To Offer Exclusive Game Apps

Google Inc and Apple Inc are making efforts these days for wooing game developers in an attempt that top game titles arrive first on devices powered by their respective operating system.

Google And Apple To Offer Exclusive Game Apps

The two Silicon Valley giants are luring game developers by providing premium placement to these games on the home pages and features lists of their app stores, according to the Wall Street Journal.

Last August, Apple had struck a deal with Electronic Arts Inc for promoting the game “Plants Vs Zombies 2” prominently in its App Store. It also had a similar arrangement with ZeptoLab to promote the sequel to its popular puzzle game “Cut the Rope” that released in December. The sequel by ZeptoLab to its popular puzzle game “Cut the Rope” saw ZeptoLab and Apple agreeing to about a three-month window of exclusivity for Apple’s App Store in exchange for Apple store prominently promoting the game.

Emily Greer, head of Kongregate, likened the contest to an “arms race” for the best content.

“When people love a game, and it’s not available on an alternate platform, they’ll change platforms,” she said. “The level of attachment a person has to a game can exceed almost anything.”

“Videogames are critical applications,” said Patrick Mork, a former director of global marketing for Google’s app store and now chief executive of mobile- game company Unspoken Tales. “Not only is it where people are spending their time and money, they also showcase the power of computing on their devices.”

Asian Shares Hit Four-Month High On China Data

On Tuesday, Asian shares hit a high of four months after China’s official PMI survey showing the manufacturing sector managed to continue expanding in March and dovish comments from Federal Reserve Chair Janet Yellen.

Asian Shares Hit Four-Month High On China Data

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose by up to 0.4 percent and reached its highest level since early December. It is widely believed that European shares will gain, with both Britain’s FTSE .FTSE and France’s CAC .FCHI seen rising 0.3 percent. The Nikkei failed to match other indexes and fell 0.2 percent as the Bank of Japan’s tankan survey revealed that Japanese companies are cautious on the economic outlook as a sales tax hike of three percentage points took effect on Tuesday.

Yellen reinforced the need for an “extraordinary” commitment for supporting the U.S. economy. In her first public speech since becoming Fed chair two months ago, the Fed chair remarked here remains “considerable” slack in the economy and job market.

“It seems like she expressed her own dovish ideas. There’s nothing really new and the outlook of the Fed’s policy has not changed that much but the markets like her remarks,” Makoto Noji, senior strategist at SMBC Nikko Securities.

Gold hit a seven-week low of $1,278.34 per ounce, yen slipped to a three-week low against the dollar of 103.44 yen, and the euro bounced back against the U.S. dollar to fetch $1.3774.

JPMorgan Says Repos Cut To Lowest by US Money Funds

According to a report released by J.P. Morgan Securities, U.S. prime money market funds cut their holdings of repurchase agreements with banks and Wall Street dealers in February to the lowest in over three years.

JPMorgan Says Repos Cut To Lowest by US Money Funds

Repurchase agreements are loan money funds of short term made to banks and dealers secured by Treasuries and other securities while banks and dealers use the cash for financing trades and daily operations with these general collateral (GC) repos. J.P. Morgan analysts said prime money funds while reducing their exposure to private repos raised their stakes in the Federal Reserve’s reverse repurchase agreements by $20 billion last month to $100 billion.

“With the elevated usage of the Fed (reverse repos), we note that prime (money fund) holdings of dealer GC repo dropped to the lowest amount we have on record, dipping below the low reached in April 2011 due to the newly effective FDIC insurance fee assessment rate,” J.P. Morgan analysts wrote in the report.

J.P. Morgan said bank and dealer repos represented 10.3 percent of the prime money funds’ total assets, which was a hair above the 10.2 percent in April 2011. According to J.P. Morgan, prime money funds had about $1.098 trillion in assets at the end of February, down $37 billion from January.

Google+ Contacts Linked By Google To Gmail

A new feature in Gmail by Google could result in some users receiving messages from people with whom they have not shared their email addresses. This risk has already raised concerns among some privacy advocates.

The change broadens the list of contacts available to users of Gmail so that it includes both the email addresses of their existing contacts and the names of people on the Google+ social network. With this feature, users can now send an email directly to friends, and strangers, who use Google+.

This new feature will make it easier for people who use both services to communicate with their friends, said Google. “Have you ever started typing an email to someone only to realize halfway through the draft that you haven’t actually exchanged email addresses?” the company said in a blog post announcing the feature. “You’re in luck, because now it’s easier for people using Gmail and Google+ to connect over email.” The company added this new feature would not expose the email addresses of any Google+ users to strangers. Google is planning to send an email to all Google+ users during the next two days alerting them to the change and explaining how to change their settings, a Google spokeswoman said.

The new feature was called “troubling” by Marc Rotenberg, the executive director of non-profit Electronic Privacy Information Center. “There is a strong echo of the Google Buzz snafu,” he said while referring to a social networking service that Google launched in 2010.

How To Find The Right Attorney?

Believe it or not, finding the right attorney is one of the most crucial aspects of winning a cause. However, this should not be a difficult task if you spend some quality time to follow these tips.

The first and foremost thing while selecting an attorney is to search for someone who is a proven expert in specific areas of the law though you may opt for a general practice attorney who are experts in handling different types of cases.

The easiest thing for you will be to make a customized search online like “Civil Law in Greensburg PA” to find the best attorneys. You may even check the Yellow Pages that have details of attorneys (such as website address, contact number, and areas of specialization). It is important for you not to limit the scope of search to one or two attorneys but you should emphasize on finding details about at least five attorneys.

Once this has been done, you need to access details about their law firms and attorneys’ credentials. It is also recommended to access online law forums, reviews, testimonials, and feedback left by past and present clients of these attorneys. After this, you can fix appointments with each of the attorneys who have passed the initial scrutinizing process. When you are paying a visit to the office of an attorney, it is best to have some questions to be answered by them. This could be about how experienced the attorney is and how he or she will guide you with the process required for attaining your legal goals and expectations.

After visiting all, it is best to select the two attorneys you seem more comfortable with and confident that they can handle your case just as you want them to. Last but not the least, it is always good to execute a legal service agreement to clearly define the rights and obligations of both parties.

Asian Shares Tumble On China Services PMI

On January 6, Asian shares fell to a low of three weeks after growth in the services sector of China slowed sharply last month to raise concerns about the pace of recovery in the world’s second-largest economy while gold climbed.

Asian Shares Tumble On China Services PMI

The United States dollar hovered near a high of four weeks and was well supported by an upbeat outlook for the U.S. economy from Federal Reserve Chairman Ben Bernanke that supported expectations of faster stimulus reduction by the central bank of the country.

“With the Fed having set the tapering process in motion, it would likely take a fairly significant miss to derail tapering expectations and push yields significantly lower from their year-end levels,” analysts at BNP Paribas wrote in a note.

“Against this backdrop, the dollar is likely to remain generally well-supported this week, particularly versus the lower-yielding G10 currencies,” they added.

According to financial bookmakers, British, French, and German shares are expected to open steady to modestly softer. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS shed 0.8 percent to reach a low of three weeks. China’s CSI300 index .CSI300 sagged 2.3 percent to hit a low of five months after the HSBC/Markit services sector Purchasing Managers’ Index fell to 50.9 in December from 52.5 in the previous month, with new business expansion the slowest in six months.

“The focal point of the Asian markets is more on Chinese growth and on Chinese political situation and how it’s going to pan out this year, rather than worrying about how tapering will affect Asia specifically,” said Guy Stear, Asian credit and equity strategist at Societe Generale in Hong Kong, referring to the manufacturing PMI released recently.

Exceptionally Healthy Year For Real Estate In 2014

Re/Max, a leading real estate group, has revealed that Canada can expect an “exceptionally healthy” housing market in 2014. The real estate group remarked this would be primarily because of overall economy improvements that helped in producing a surge in the latter half of 2013.

It expected that home sales nationally are expected to climb two per cent to 475,000 units next year after a three per cent increase to well over 453,000 projected for 2013 when all the numbers are in. According to a survey of the group’s independent brokers and affiliates, the value of an average Canadian home is forecast to escalate three per cent to $390,000 in 2014 after rising four per cent to $380,000 in 2013.

“Canadian housing markets are on solid ground after a somewhat harrowing first and second quarter of 2013,” said Gurinder Sandhu, executive vice-president and regional director, RE/MAX Ontario-Atlantic Canada.

Quebec and Atlantic Canada have been the exceptions to the rosy performance in 2013 but ReMax said both of them should improve in 2014.  “Both regions should rebound in the new year, led by Halifax-Dartmouth (five per cent), Moncton (three per cent), Greater Montreal (two per cent) and Quebec City (two per cent).”

Re/Max said one of the most pressing factor is build out that contribute to rising housing prices on a national basis.

“Nowhere is that more obvious than in Vancouver, where the mountains and the ocean have prevented further growth, and the Greater Toronto Area, where the greenbelt has stymied future development.”

“As such, the availability of low-rise homes relative to the population is expected to contract, placing further pressure on prices,” it said.

“We’re definitely seeing a greater commitment to higher density at a municipal level,” said Elton Ash, regional executive vice-president, RE/MAX of Western Canada.