Asian markets rebounded on Tuesday following a series of losses last week after released data showed improved manufacturing activity in China and buoyancy that Federal Reserve Chairman Ben Bernanke may unveil steps to boost the US economy. 
 
Hong Kong’s Hang Seng climbed 1.99 percent to 19,875, Japan’s Nikkey rose 1.2 percent to 8,733 while the Kospi in South Korea posted the largest gain to 1,777, a 3.86 percent increase.
 Market uncertainty continued to prevail however as investors sought out the safe haven of the bullion, leading to gains of an all time high of 1,901,80 an ounce, up $10.60, in Tuesday’s electronic trading.
 Platinum traded at $1903.25 after it rose by 0.7 percent or $1,916 an ounce, to its highest price in three years.

German chancellor Angela Merkel on Sunday snubbed Eurobonds as a short-term answer to Europe’s sovereign debt crisis while four of Greece’s largest banks in Athens stepped in to rescue a smaller lender. Merkel continued to oppose a bond guaranteed by all of Europe’s member states, saying the eurozone would turn into an inflation community if nations sold a joint bond without amalgamating their economic policies first. Investors faced an anxious start to the week as banks in Greece tried to avert on Sunday a run on its frail banking system by taking up €50m convertible bonds to bail out Proton bank, the Central Bank said. Proton Bank, which has an estimated market value of €20.7m and a network of 31 branches, was kept afloat at the weekend by the National Bank of Greece, Piraeus Bank, EFG Eurobank and Alpha bank.


Japan’s Asahi Group Holdings said Thursday it has come to an agreement to buy New Zealand’s leading ready-to-drink cocktail company, Independent Liquor, for $1.31bn from Pacific Equity Partners and Unitas Capital Pte.
 
 The brewer hopes to grow a stronger position in New Zealand and Australia, and aims to increase its overseas sales between 20 percent and 30 percent, the group said.
 
Asahi’s oversees sales currently account for 6.6 percent compared to the 23 percent of its competitor, Kirin Holdings. 
 
 The transaction, which is the largest ever by a Japanese company targeting the New Zealand market, is due to be completed by the end of September, according to a statement.
 
Japanese firms have been on a spending spree in foreign markets as domestic consumption decreases due to the nation’s shrinking and ageing public. Food and beverage company, Suntory Holdings, announced on Wednesday it is to launch a new company to help drive Southeast Asian M&A’s.
 
The acquisition comes amid increased movement in the beverage sector which saw Australian brewer Foster’s ward off a $10bn hostile takeover bid SABMiller on Thursday.

Stocks in Europe fell on Wednesday after a meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel late on Tuesday to discuss the area’s rescue fund and borrowing. The duo had been under pressure to re-establish market confidence after a bout of volatility and uncertainty. Tokyo’s Nikkei and S&P 500 were 0.6 percent and 0.97 percent down respectively at close of trading. Frankfurt dropped 1.5 percent, while London’s FTSE and Paris CAC were both down 1 percent in early trading. The leaders of Europe’s strongest economies revealed plans late on Tuesday for closer eurozone incorporation, including biannual summits and deficit boundaries but announced that euro bonds are an option only in the long-term. A president is also to be elected to represent the bloc. European Council President, Herman Van Rompuy, is a likely candidate according to reports.

Germany, the EU’s biggest economy, saw a near stalling in 2Q11 as its GDP grew by just 0.1 percent between April and June, according to the country’s Federal Statistics Office. The figure, which was below market expectations of 0.5 percent, marks a substantial drop from the downwardly amended 1Q11 increase of 1.3 percent and raises concerns over the wider eurozone and global economy. A decrease in consumer spending and capital formation in construction were largely responsible for the slowdown while investments and exports were “positive contributors” over the last quarter, according to the statistics office. The result comes just a week after the French and US economy posted similarly poor GDP growth for the same quarter.