Asian stocks rose after Chinese manufacturing expanded in December

International News:

Asian stocks rose after Chinese manufacturing expanded in December and a stronger dollar boosted the earnings outlook for Japanese car and electronics manufacturers.
Kraft Foods Inc. will probably extend its 10.5 billion-pound ($16.9 billion) hostile bid for Cadbury Plc, analysts said, as the U.K. chocolate maker’s shares trade above the offer on expectations of a higher price. Japan Airlines Corp., Asia’s biggest carrier, had a record jump in Tokyo trading after state-run Development Bank of Japan doubled a credit line, easing bankruptcy concerns. The airline climbed as much as 39 percent, the most in more than seven years. Three-wheeler majors like Bajaj Auto, Piaggio and Mahindra & Mahindra are ramping up capacity and launching new products. The country’s top steel makers saw up to a 50% sales jump in December 2009 compared to the corresponding period last year. Sugar prices are at record high levels of Rs.3700 a quintal, up 7-8 per cent from a month ago on the back of UP Government’s decision to ban import of raw sugar. Credit growth in the banking sector is seen picking up in Q4FY’10.

Corporate news:

Godrej Consumer Products is close to acquiring Indonesian household products company, Megasari in a deal estimated to be worth Rs.1200-1400 crore. The company has also placed a bid for the global pesticides business of Sara Lee Corp. Private Equity Bain Capital has bought a 15.4% stake in Kolkata-based Himadri Chemicals. This move is expected to help the company triple its capacity. Brazil’s Petrobas has decided to quit Oil and Natural Gas Commission’s gas discovery block in the Krishna – Godavari basin.