Latest news for Kawasaki Kisen Kaisha (OTC:KAIKY) Stock

Kawasaki Kisen Kaisha Ltd is a transportation company domiciled in Japan. The company organizes itself into four segments: containership, bulk shipping, offshore energy E&P support and heavy lifter, and others. The containership segment, which generates the largest portion of revenue, transports shipping containers and provides logistics solutions. Bulk shipping, the next most significant segment, transports dry bulk, automobiles, liquefied natural gas, and oil. Containership and bulk shipping together generate the vast majority of revenue.

china chart shutter

Asia

Macro Economic Events

Emerging Markets

Eurozone

Economics

Tech

ALSMY

JTKWY

KAIKY

MNSO

TUIFF

China policymakers may issue at least 1 trillion yuan ($137 billion) in additional sovereign debt to fund infrastructure investments.

China Contemplates Stimulus As Property Giant Country Garden Teeters On Brink Of Default

KAWASAKI KISEN UNS/ADR by Kawasaki Kisen Kaisha, Ltd.

Kawasaki Kisen Kaisha Ltd

The Third Quarter Showed The Hidden Power Of LNG Shippers

Red Sea attacks: Ocean freight rates, shipping firms' valuations sail higher

Another Great Quarter And Year For LNG Shippers

U.S. to officially relabel Houthis as terrorists soon after retaliatory strikes in Yemen

LNG Shipping Stocks: Preparation For A Bullish Move

LNG Shipping Stocks: Summer Season Is Near

LNG Shipping Stocks: Holiday Decline

AMKBY

BDRY

BOAT

BPAQF

BWET

CICOF

CLCO

CPLP

DLNG

DPBSF

EXMRF

FLNG

GLNG

HPGLY

KAKKF

MATX

MIHDF

MSLOF

MSLOY

NPNYY

NYUKF

OROVY

RYDAF

SHEL

Kawasaki Kisen Kaisha

The Chinese government is contemplating an increase in fiscal stimulus, reflecting a desire to recover a portion of the economic growth that has been lost over recent quarters to achieve the <a href="https://www.benzinga.com/topic/chinese-stocks">annual growth target of 5%.</a>



That&#8217;s according to <a href="https://www.bloomberg.com/news/articles/2023-10-10/china-weighs-new-stimulus-higher-deficit-to-meet-growth-target?sref=TBDibEcD">Bloomberg</a>, citing sources familiar with the situation. Government policymakers are currently weighing the possibility of issuing at least 1 trillion yuan ($137 billion) in additional sovereign debt to fund infrastructure investments, including projects related to water conservation. 



No official announcement has been made yet.



These developments have led to a surge in global equity indices. In Hong Kong, shares, as tracked by the Hang Seng Index, saw an increase of 0.8%, and a similar performance was observed by the S&amp;P/ASX 200 in Australia.



Within the Asian region, the Japanese Nikkei Index showed the strongest performance, with gains of up to 1.8%. 



Some notable stock gainers in the Asian market included companies like Kawasaki Kisen Kaisha Ltd. (OTCPK: KAIKY) and Miniso Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>), both experiencing a 6% increase.



In Europe, stocks also displayed positive momentum, with Italy&#8217;s FTSE Mib 30 and Spain&#8217;s IBEX 35 indices standing out, both registering a 1.7% increase.



In the European market, Just Eat Takeaway.com NV (OTCPK: JTKWY) rose by 6%, alongside Alstom (OTCPK: ALSMY), which also saw a 6% increase, and TUI AG (OTCPK: TUIFF) with a 5.7% increase.



Read Also: <a href="https://www.benzinga.com/markets/equities/23/10/35158917/stocks-futures-signal-cautious-optimism-amid-hopes-of-fed-pause-pepsicos-solid-q3-focus-shifts-t">Stocks Futures Signal Cautious Optimism Amid Hopes Of Fed Pause, PepsiCo&#8217;s Solid Q3; Focus Shifts To Week&#8217;s Inflation Data</a>



<h2 class="wp-block-heading">Country Garden Issues Default Warning</h2>



At the same time, concerns persist regarding issues in the property sector, particularly regarding Country Garden Holdings, which is currently facing the risk of default. The former leading construction company in China issued a warning via a stock exchange filing on Tuesday, indicating its inability to meet future offshore payment obligations, including those related to dollar-denominated bonds.



Ting Meng, a senior credit strategist at Australia and New Zealand Banking Group, told Bloomberg that Country Garden&#8217;s recent statement may force offshore bondholders to push forward a restructuring proposal.



The company announced on Tuesday a significant drop of 81% in contracted sales for September compared to the previous year, primarily due to the persistently weak demand from homebuyers in China. This decline caused Country Garden&#8217;s shares to fall by 11% in Hong Kong on Tuesday, following a 6.7% drop in the previous session.



Notably, Country Garden&#8217;s dollar bond maturing in January 2024 is currently trading at 6 cents on the dollar, while the bond due in 2031 is trading at less than 5 cents on the dollar.



Domestic stocks in China underperformed global equities on Tuesday. The Shanghai Composite index declined by 0.7%, and the Shenzhen Component saw a loss of 0.6%. These losses extended from the previous session.



Chart: Country Garden&#8217;s Dollar-Denominated Bonds Tumble 



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="730" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76-1024x730.png" alt="" class="wp-image-121268" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76-1024x730.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76-300x214.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76-768x547.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76.png 1515w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Now Read: <a href="https://www.benzinga.com/markets/asia/23/10/35156875/asia-mixed-eurozone-in-green-crude-retreats-after-mondays-surge-global-markets-today-while-us-was-sl">Asia Mixed, Eurozone In Green, Crude Retreats After Monday&#8217;s Surge &#8211; Global Markets Today While US Was Sleeping</a>

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

Comments

Kawasaki Kisen Kaisha

News

Latest news for Kawasaki Kisen Kaisha (OTC:KAIKY) Stock

Tuesday, October 10, 2023