John Wong News
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Gold-mine investors are losing patience with management in the $60 billion industry as their shares head for the first back-to-back annual slump since 1998, even as the metal completes a dozen years of gains.
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South Korean stocks, the second- cheapest in Asia, are among the “most attractive” in the region and may post further gains after their longest rally in almost five years, Oberweis Asset Management Inc. said.
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Gold mining stocks are trading at their cheapest level in at least nine years even as the industry’s profits are estimated to almost double this year and bullion trades close to its historic high.
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Chinese equities traded in the U.S. rose the most in three months after the nation cut banks’ reserve requirements for the first time since 2008 to bolster growth.
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South Korean stocks may extend their longest rally in five years as “modest” increases in interest rates will slow inflation without damaging economic growth, according to Prudential International Investments Advisers LLC.
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Cameco Corp. plans to begin output at the world’s largest untapped uranium deposit in 2013, just in time to make up for a shortfall in global supplies. The project’s critics say it won’t happen.
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As many as 20 Chinese companies plan initial public offerings in Hong Kong by year-end and more non- state businesses are preparing to follow government-owned peers to seek listings, an executive of the city’s exchange said.
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Uranium companies from Toro Energy Ltd. to Mega Uranium Ltd. are so depreciated they’re trading at less than their assets would be worth in a fire sale.
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