Market Gawk

The market has factored in the convergence benefits of the reinvigorated telecoms, says S&P’s Todd Rosenbluth. But there are opportunities

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MasterCard shares have surged since its 2006 IPO, but Morgan Stanley’s spin-off of its Discover unit on July 2 hasn’t been nearly as well received

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HONG KONG (MarketWatch) — Asian stocks rose early Monday, with Japan’s Nikkei 225 index lifted by machinery makers such as Fanuc and Komatsu on reports that core machinery orders increased more than expected, suggesting corporate capital spending is on strong footing. The Nikkei index added 0.5% to 18,222.50, while the broader Topix index gained 0.4% to 1,786.45. Australia’s S&P/ASX 200 rose 0.3% to 6,372.50, New Zealand’s NZX 50 index advanced 0.2% to 4,230.25 and South Korea’s Kospi gained 0.9% to 1,877.14.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Australia and New Zealand Banking Group Ltd. said on Monday it had acquired a 10 percent stake in Vietnam’s top stock broker Saigon Securities Inc. for US$88 million, further boosting its Asian expansion.

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Complying with anti-money laundering laws has been much more expensive than banks anticipated, and some still aren’t meeting all requirements, a new survey says.

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The video game industry’s annual showcase is saying goodbye to scantily clad booth babes, extravagant multimillion dollar exhibits, blaring lights and pounding music. Celebrity appearances from the likes of Paris Hilton or Snoop Dogg are a thing of the past, too.

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The UAE imported $11.9bn worth of American goods in 2006, more than any other Middle Eastern country, Gulf Today reported. According to a National US-Arab Chamber of Commerce report, UAE imports from the US rose by over 40% between 2005 and 2006, more than double the level in 2004. A declining US dollar and a diversifying UAE economy contributed to the surge in American imports.

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Saudi Electricity is expected to price up to $1.33bn of Islamic bonds at between 40-49 basis points over the Saudi Interbank Offer Rate, Reuters reported. The company received an A+ rating from Standard & Poor’s and Fitch in June. HSBC is lead manager and sole bookrunner of the sale. Only local institutions and individual investors are eligible to buy the 5-year bonds.

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Bayer AG’s experimental pill rivaroxaban is significantly more effective than standard injections of Lovenox in preventing blood clots after knee surgery, researchers said on Sunday.

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