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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (39925)	7/17/2003 3:48:27 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 72037

10:40PM China's GDP growth slows in Q2, up 8.2% in H1 by Allen Wan TOKYO (CBS.MW) -- China's GDP grew at 6.7 percent in the second quarter as SARS hurt its services sector, China's National Bureau of Statistics said. For the first half, the Chinese economy grew 8.2 percent, taking into account growth of 9.9 percent in the first quarter. "The GDP growth rate in the second quarter dropped by 3.2 percent from the first quarter's 9.9 percent. It is the lowest increase of the same period since 1992. The service sector was hard hit, growing just 0.8 percent," the official Xinhua news agency quoted Qiu Xiaohua, Vice Deputy Director of the National Bureau of Statistics, as saying. The bureau said foreign investment and manufacturing were sources of growth. China has said that it expects its export-led economy to grow 7 percent this year. Before severe acute respiratory syndrome was finally contained, the disease killed 348 people in the mainland and hampered business travel to the region. [Harry: Wow, they can't keep that up for long. Talk about a hyper stimulate economy.] 9:25PM Nextel boosts profit, lifts financial forecast (NXTL) by Jeffry Bartash WASHINGTON (CBS.MW) -- Rising a strong sales performance, Nextel Communications on Wednesday night said it earned $281 million, or 27 cents a share, compared with $325 million, or 39 cents, a year ago, including onetime gains. That beat the 24-cent consensus of analysts surveyed by Thomson First Call. Sales climbed 19 percent to $2.6 billion, as the wireless carrier added 591,000 customers. Nextel (NXTL) also boosted its financial forecast for the rest of the year in light of its strong second quarter. [Harry: This would confirm MOT comments that they were hurt mainly by the slow down in sales in China.] 9:10PM North, South Korean troops exchange gunfire--reports by Allen Wan TOKYO (CBS.MW) -- South and North Korean soldiers briefly exchanged gunfire along the Demilitarized Zone, but the South said it suffered no casualties in the shootout, the Associated Press reported. It wasn't immediately known whether any North Korean troops were injured or killed in the firefight along the tense border separating the two Koreas, it said. North Korean tensions have been building over the last few days after Pyongyang said it had finished reprocessing spent fuel rods at the Yongbyon nuclear complex in which could be a prelude to nuclear weapons production. Separately, Kyodo reported, citing a senior U.S. administration official, that the U.S. is ready to hold another round of talks with North Korea and China on the North Korean nuclear issue on the condition that they be expanded later into five-way talks to include Japan and South Korea. [Harry: Adding some political tension to the mix.]