Asian stocks mostly lower on weak Chinese housing data; Tokyo rises on strong machinery orders + MORE May 19th

BEIJING, China – Asian stock markets were mostly lower Monday after China reported a weak increase in housing prices.
Oil gained to stay above $102 a barrel after rising last week on concern about tensions in Ukraine.
China’s Shanghai Composite Index fell 1 per cent to 2,006.21 after a weekend report that month-on-month gains in housing prices slowed to 0.1 per cent in April from March’s 0.3 per cent. Hong Kong’s Hang Seng declined 0.6 per cent to 22,586.39. Seoul and Sydney also declined.
The Chinese government is trying to restrain surging housing costs with lending and other curbs. But any weakness in sales prompts fears of repercussions for other industries and possible debt problems if developers default on loans.
“There could be concerns about increased risks of a hard landing in the property market,” said Mizuho Bank in a report.
Tokyo’s Nikkei 225 added 0. 1 per cent to 14,106.74 after March machinery orders soared 19.1 per cent from a year earlier, beating expectations…

U.S. drugmaker Pfizer has raised its takeover bid for British rival AstraZeneca for a third time, hiking the stock-and-cash offer to nearly $119 billion (70.7 billion pounds). The move is the latest in a flurry of proposed drug takeovers this year. The deals highlight how the global pharmaceutical industry could over time consolidate into a very small number of massive companies as competition increases from generic versions of medicines. The enhanced economies of scale could boost returns for shareholders but what it means for consumers is still unclear.
— PFIZER-ASTRAZENECA
Pfizer Inc., the world’s second-biggest drugmaker by revenue, has been courting No. 8 AstraZeneca PLC since January, saying their businesses are complementary and would be stronger together. AstraZeneca has repeatedly rejected Pfizer’s offers, insisting they significantly undervalue the company and its experimental drugs. The company and British government officials also have raised concerns about the prospect of job cuts, facility closures and the U…

This GIC rate is offered by Oaken Financial and was updated on 2013-11-28. Click on the link above to get more details or apply online.

FRANKFURT – Deutsche Bank says it is raising 8 billion euros ($11 billion) in new capital from investors to strengthen its finances as it faces tighter regulation and seeks to invest in promising business areas.
The bank says it will raise 6.3 billion euros in a rights offering and has already secured 1.75 billion euros by placing shares with a single investor from Qatar.
Co-CEO Anshu Jain told analysts Monday that the fresh capital would also help it meet “unforeseen challenges” that may be ahead.
The move will increase the bank’s capital ratio, a key measure of financial strength, to 11.8 per cent. That is well beyond the bank’s 10 per cent goal.
Banks across Europe have been shedding risky investments and raising new capital as they seek to meet new regulatory standards.
The post Deutsche Bank raises 8 billion in new capital ahead of new regulatory setup appeared first on Canadian Business.

This GIC rate is offered by Oaken Financial and was updated on 2013-11-28. Click on the link above to get more details or apply online.