Continue reading Las Vegas Sands Drops on Securities Investigation in Hong Kong

Las Vegas Sands Drops on Securities Investigation in Hong Kong originally appeared on BloggingStocks on Thu, 31 Mar 2011 14:00:00 EST. Please see our terms for use of feeds.

Europe is hot, if you don't look too far over your shoulder. The Dow Jones Stoxx 600 Index played well through the stock market recovery of 2009, ticking up 28% (60% from its March 2009 low). This was the index's best annual performance in a decade.

Basic resources and banks gained 100% and 46%, respectively, this year, after having turned in dismal performances the year before. China helped, as well, with its elevated economic growth forecast good for another 0.5% gain during the shortened week of Christmas.

Continue reading Good Year, Bad Decade for Europe

Good Year, Bad Decade for Europe originally appeared on BloggingStocks on Sun, 03 Jan 2010 16:50:00 EST. Please see our terms for use of feeds.

American International Group (AIG) is a step closer to paying back the U.S. government. The insurer has announced that it's planning to float American International Assurance on the Hong Kong stock exchange. A date hasn't been selected yet, but the decision isn't much of a surprise, given that AIG moved it into a special unit, a signal that some sort of liquidity event was on the way.

According to Robert Benmosche, the company's CEO, "The planned listing is in the best interests of policyholders, distribution partners, AIG shareholders and US taxpayers." He continues to say that AIA's roots are in Asia, which made a Hong Kong listing "a natural choice." The timing, according to AIA president and CEO Mark Wilson will depend on marketing conditions and regulatory approvals.

Continue reading AIG sending international life unit public in Hong Kong

AIG sending international life unit public in Hong Kong originally appeared on BloggingStocks on Fri, 04 Dec 2009 08:40:00 EST. Please see our terms for use of feeds.

Late Tuesday, The Wall Street Journal reported that Las Vegas Sands (LVS) is preparing to relaunch its stalled construction projects in Macau, China's hot gambling region. Financial woes forced Las Vegas Sands to walk away from the two construction sites a year ago, but newly secured funding means that the casino company can resume work on the projects as soon as January.

Las Vegas Sands disclosed in a regulatory filing on Monday that it secured $1.45 billion in financing from banks, and the firm is looking to lock down an additional $300 million. The gaming issue is also attempting to raise as much as $3.83 billion by launching an initial public offering (IPO) in Hong Kong of its Macau assets, about $500 million of which will be used to fund construction on the stalled sites.

Continue reading Las Vegas Sands to resume construction in Macau

Las Vegas Sands to resume construction in Macau originally appeared on BloggingStocks on Wed, 11 Nov 2009 12:30:00 EST. Please see our terms for use of feeds.

Continue reading Car sales surge in China

Car sales surge in China originally appeared on BloggingStocks on Thu, 09 Jul 2009 09:30:00 EST. Please see our terms for use of feeds.

Continue reading World markets not impressed with economic summit results

World markets not impressed with economic summit results originally appeared on BloggingStocks on Mon, 17 Nov 2008 08:45:00 EST. Please see our terms for use of feeds.

It looked like Apple (NASDAQ: AAPL) was going to go out of the business of selling "unlocked" iPhones, which are set up to work on any wireless network. Its new 3G model was going to be sold through about two dozen carriers worldwide. They would be the sole distribution method for the new handset and would make money on the wireless subscription plans marketed with the phones.

It looks like things are not working out that way. According to the AP, "Apple Inc. is putting on sale unlocked iPhone 3G in Hong Kong, allowing people to use it with any mobile phone carrier." The unit will cost consumers $695.

Apple may be taking a significant misstep. If it alienates its carrier partners by undercutting their ability to make money on the product, over time they could push competing products from companies, including the Samsung Instinct and several products that Nokia (NYSE: NOK), the world largest handset company, will introduce later this year.

Apple is a bit vulnerable now. Its 3G iPhone has run into connection problems in the U.S. That may have made some customers less likely to run into stores to get the new devices. Damaging relationships with its distribution operators by offering unlocked iPhones gives the competition an opening.

Douglas A. McIntyre is an editor at 247wallst.com.

Unlocking the new Apple iPhone originally appeared on BloggingStocks on Sun, 28 Sep 2008 11:40:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal reported that Toyota Motor Corporation (NYSE: TM) is set to revamp its manufacturing operations in the U.S. in response to rising gasoline prices that have led to a shift toward fuel-efficient models. Officials at the auto maker said key moves may include dropping plans to produce the Highlander car-SUV crossover vehicles in a Tupelo, Mississippi plant, instead producing the Prius at the plant.
• Tomorrow Apple Inc (NASDAQ: AAPL) is set to launch its second version of the iPhone but it also will be opening its APP Store to software developers--an online bazaar--with the intent of bringing more applications to the phone as it has with music via its iTunes stores. Apple's goal is to turn the iPhone into a gadget that more resembles a personal computer, the Wall Street Journal reported.

• According to sources, the South China Morning Post reported that Wynn Resorts Limited (NASDAQ: WYNN) is considering a secondary listing in Hong Kong that would raise as much as $3B. The source said that the fund-raising plan has yet to be approved that that the company is a "long way" from a share sale and "might never do it."

• In an interview, Bloomberg reported that Former St. Louis Federal Reserve President William Poole said there is an increasing chance the U.S. may need to bail out "insolvent" Federal National Mortgage Association (NYSE: FNM), or Fannie Mae, and Federal Home Loan Mortgage Corporation (NYSE: FRE), or Freddie Mac. Poole said data provided show that the fair value of Fannie Mae's assets fell 66% to $12.2B in Q2, while Freddie Mac owed $5.2B more than its assets were worth during the quarter.

Newspaper wrap-up: Apple to open App Store to software developers with PC phones in mind originally appeared on BloggingStocks on Thu, 10 Jul 2008 08:10:00 EST. Please see our terms for use of feeds.

More worries about financials drag down Asian markets originally appeared on BloggingStocks on Tue, 08 Jul 2008 07:39:00 EST. Please see our terms for use of feeds.

While Asian stock markets like Vietnam were the darlings of investors during 2006-07, market action and economic fundamentals may be a precursor to another Asian financial crisis like we had 11 years ago. The Vietnam market has lost more than 55% during '08, and with surging inflation, the currency is showing cracks of weakness as well.

May's inflation rate surged by 25.2%. Reading a recent Reuters report, one gets the feeling that there is a big problem on the horizon: "All readings from the economy are not healthy," a Vietnamese dealer with a foreign bank said. "The economy is not performing as well as expected by investors so they are pulling out and this trend is not short-term because we see nobody arriving. It is now an approach to a crisis."

Vietnam's dong is trading a multi-month lows, and more importantly the offshore forwards market has priced in a 30% depreciation in the currency. Countries including the Philippines, China, India, Thailand and even Hong Kong are all experiencing rapid inflation with no end in sight. This sounds all eerily familiar to what happened 11 years ago.

Investors should pay close attention to what's happening in South East Asia, as it could potentially have unpleasant ramifications for the rest of the globe.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any other mentioned, as of 6/3/08.

Is Asia heading for another crisis like 1997? originally appeared on BloggingStocks on Tue, 03 Jun 2008 13:48:00 EST. Please see our terms for use of feeds.

Continue reading Alibaba rockets ahead in Hong Kong debut

Alibaba rockets ahead in Hong Kong debut originally appeared on BloggingStocks on Tue, 06 Nov 2007 09:43:00 EST. Please see our terms for use of feeds.

Markets in Asia took a beating as the Hong Kong Hang Seng fell 5%. Key China stocks moved down sharply. China Mobile (NYSE:CHL) fell 7%. China Petroleum (NYSE:SNP) fell over 10%.

The Shanghai Composite fell 2.5%.

Douglas A. McIntyre is an editor at 247wallst.com.

Flash: Asia markets pulled down as Hang Seng falls 5% originally appeared on BloggingStocks on Mon, 05 Nov 2007 03:59:00 EST. Please see our terms for use of feeds.

Las Vegas Sands (NYSE: LVS) volatility Elevated into Macao Resort Hotel opening. LVS opened the Venetian Macao Resort Hotel today. Sheldon Adelson, chairman & chief executive officer, said "it is no overstatement to say that the opening of Venetian Macao represents a massive paradigm shift for Macao and the future of tourism development in Asia." Goldman Sachs (NYSE: GS) says "the scale is enormous and the detail impressive." LVS over all option implied volatility of 44 is above its 26-week average of 39 according to Track Data, suggesting larger price fluctuations.

Ameristar Casinos (NASDAQ: ASCA) implied volatility Elevated at 43. ASCA, a Las Vegas based gaming and Entertainment Company, is recently down $0.55 to $28.39. ASCA has a market cap of $1.6 billion with long term debt of $878 million. ACSA over all option implied volatility of 43 is above its 26-week average of 37 according to Track Data, suggesting larger price risks.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Option update: volatility Up as Sheldon Adelson opens Venetian Macao originally appeared on BloggingStocks on Tue, 28 Aug 2007 12:01:00 EST. Please see our terms for use of feeds.

Last December, over 100 stocks were featured in our Top Picks for 2007 report. Now, at mid-year, we turn to the 20 advisors whose picks showed the strongest gains to get an update on their previous picks, as well as a new favorite stock for the second half of the year.

Ian Wyatt, editor of The Growth Report, chose LJ International Inc. (NASDAQ: JADE) as his favorite stock for 2007. Its 173% gain as of 6/1/07 has made it the number one performer among all stocks in our Top Picks for 2007 report. Here is Ian's original recommendation for JADE and his current favorite stock for the rest of 2007.

Updating his recommendation, the advisor now says, "LJ International continues to capitalize on China's extraordinary growth and accompanying demand for luxury goods -- specifically high-end jewelry -- by expanding its network of ENZO branded jewelry stores.

"Since 2004, when LJI began opening retail jewelry stores in China, it has opened more than 45 stores, established a presence in all of China's major cities, including Hong Kong and Macau, and established itself as China's #1 foreign branded jewelry retailer (Hong Kong and U.S. based), ahead of Tiffany & Co.

"The company has plans to more than double its network to 100 stores by year-end 2007, ahead of the Beijing Olympics. These stores generate robust sales, and, more impressive, nearly half of the existing stores are already profitable. Continued growth of its retail operations will enhance LJI's profitability since ENZO gross margins are twice those of the wholesale business.

Continue reading Top 20 advisors: Ian Wyatt wins with JADE

Top 20 advisors: Ian Wyatt wins with JADE originally appeared on BloggingStocks on Wed, 27 Jun 2007 14:00:00 EST. Please see our terms for use of feeds.

Hong Kong couple accused of insider trading originally appeared on BloggingStocks on Tue, 08 May 2007 17:47:00 EST. Please see our terms for use of feeds.

If markets are efficient then Chan Chun Chuen must be the world's most mesmerizing fortune teller. The story behind Nina Wang's will has a plot that would make a fantastic movie.

Mr. Chan was the personal fortune teller for Hong Kong's wealthiest heiress, Nina Wang and according to France24, Wang -- who died recently of cancer -- left her $4.2 billion estate to Chan. To the best of my knowledge, he will be the world's wealthiest fortune teller if he wins the legal battle with Nina's father-in-law over the will.

And there's the rub: Wang, who had no children, inherited the fortune from her husband Teddy Wang who disappeared in 1990 after being kidnapped. Although his wife paid half of the $60 million ransom Teddy's captors demanded, his body was never found and he was declared dead nine years later.

Continue reading Nina Wang wills $4.2 billion to her fortune teller

Nina Wang wills $4.2 billion to her fortune teller originally appeared on BloggingStocks on Fri, 20 Apr 2007 09:00:00 EST. Please see our terms for use of feeds.

Green is in -- Hong Kong points to why originally appeared on BloggingStocks on Wed, 04 Apr 2007 11:15:00 EST. Please see our terms for use of feeds.

China's largest bank, the Industrial & Commercial Bank of China Ltd., has shown its planned date for its long-awaited IPO. The price will be determined on October 23 and it should debut for trading on October 27, assuming there are no major market changes. Its stock will initially only be listed in Hong Kong and Shanghai. This may make it hard for US and European retail investors and many US-only institutions to participate in what appears to be the world's biggest initial public offering ever.

ICBC hopes to raise up to an equivalent of $19 billion and if this amount is raised it would break the IPO record of $18.4 Billion raised in the 1998 IPO of Japan's mobile phone operator NTT DoCoMo.

Before any over-allotments over subscriber indications, ICBC plans to issue 13 billion A shares priced in Chinese currency in Shanghai and 35.39 billion H shares. The actual price range is not indicated, but that is equal to 14.8% of its share capital. The company has indicated that up to 16.7 percent of total capital could be raised if the subscriptions come in higher than expected. If these numbers are accurate on the base amount, it would put the overall equivalent market cap of "ICBC" at roughly $128 billion. That number may not be accurate because of share discrepancies, but there is over one month yet to figure out the comparative details.

PRIOR CAPITAL RAISED

"ICBC" already plans to sell IPO shares worth $3.5 billion to strategic investors from government investment agencies from Kuwait, Qatar and Singapore. It also received a commitment in June from China's social security fund to invest an equivalent of $2.25 billion in the bank. Another group of global financial powerhouses including Goldman Sachs, American Express and Allianz AG invested about $3.78 billion back in January, 2006. That totals over $9.5 billion raised so far in capital this year alone and not all of that may be on the prospectus by the actual IPO date. ICBC listed assets of 6.5 trillion Yuan ($800 billion) as of the end of 2005.

Continue reading Bracing for the largest IPO ever: Industrial & Commercial Bank of China

Bracing for the largest IPO ever: Industrial & Commercial Bank of China originally appeared on BloggingStocks on Wed, 27 Sep 2006 16:35:00 EST. Please see our terms for use of feeds.