Market Report – Asia Holds Steady
In today’s market report… the euro rallied further on Monday from 10 month lows, while Chinese shares hit two-month highs, though Asian markets remained steady.
At the end of the first quarter, Asian stocks outside of Japan have recorded a mere 1 percent rise so far this year, calming after a 72 percent jump in 2009.
But market watchers see a stronger second quarter if the region’s economic recovery remains robust and corporate earnings pick up.
In company news, Toyota and Mazda announced a deal under which Japan’s top automaker will supply its hybrid technology under license to Mazda. It’s the latest link-up within the fast-evolving auto industry.
And Japan’s largest electronics maker, Hitachi, says it aims to double sales from its railway-related business in six year by tapping growing demand overseas.