Credence Independent Advisors Asian stocks show

improvement, upbeat US corporate earnings

Monday saw Asian stocks showing some improvement and becoming a

fraction firmer. The change came after investors started focusing on the
upbeat flow of US corporate earnings, just before a host of results, which
are due for this week.
The investors have set aside geopolitical concerns for the moment.
The volumes kept low, however with the Japanese markets on holiday. MSCIs broadest
index of Asia-Pacific shares outside Japan increased by 0.24%, showing small gains for
most markets across Asia.
The results which are due for this week include the reporting of a number of US
companies; including Apple Inc, Mc Donalds Corp, Coca-Cola Co and Caterpillar Inc.
The data from Thomson Reuters showed that of 82 companies in the S&P 500 that had
reported earnings through Friday morning, 68% beat Wall Streets expectations,
roughly in line with the 67% rate for the past four quarters and above the 63% rate
since 1994. The last week ended with the Dow Jones up by 0.9%, S&P 500 up by 0.5%
and the Nasdaq up by 0.4%.

The US treasuries and German debt have remained well underpinned amid geopolitical
concerns. However, on Monday US 10 year yields were steady at 2.48%. Whereas, the
German bunds were yielding at just 1.16%, having neared all-time lows.
The downing of the Malaysian passenger plan on Thursday has sparked speculations
about rising tensions between the west and Russia. Later today the UN Security
Council is due to vote on a resolution aimed at condemning the downing of a Malaysian
passenger plane. John Kerry (US Secretary of State) on Sunday put forward what he
said was overwhelming evidence of Russian complicity in the downing of the passenger
plane.
On the other hand, the Gaza-Israeli conflict has intensified and the military offensive so
far has killed hundreds of Palestinians and 13 Israeli soldiers. John Kerry will be
travelling today to meet with Egyptian officials and discuss the crisis.
The major currencies have started becoming steady now. The dollar index is steady at
80.513 and has retreated from a one-month peak seen last Friday, when the euro
bounced off a five-month trough of $1.3491.
According to traders, buying interest below $1.3500 helped squeeze the euro up to
$1.3530. The common currency should see solid support at $1.3460/80, an area that
had provided a floor on several occasions in the past 10 months or so.
The Euro was at 137.09 yen after a five-month through of 136.71 and the greenback was
at 101.30.
Gold which was swinging between $1,292 and $1,339 in the last week was now idling at
$1,310.95 an ounce.
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Credence Independent Advisors was born from a compelling opportunity in the
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important for us to tailor advice and solutions to individual needs. Clients need
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supports them in their investment decision making process, helping them to achieve
their financial goals. We align our interests along with those of our clients to ensure the
development of a long and fruitful relationship.