Signs of robust economic momentum in Asia and Europe

Asian stock markets mostly advanced Thursday as China confirmed exports rose 48.5 percent in May from a year ago while imports jumped 48.3 percent. Dai Xianglong, chairman of China's National Social Security Fund, said the euro would gradually stabilize and that the U.S. fiscal deficit remained a big concern, tempering safe-haven demand for the dollar. The comments helped the euro rise to 1.2106.

In Japan, the government reported the economy grew 5.0 percent in the first quarter, faster than an initial estimate of 4.9 percent. Australia reported a stronger-than-expected rise in employment numbers for May. Japan's Nikkei gained 1.1 percent, South Korea's Kospi index rose 0.9 percent, Australia's S&P/ASX 200 was up 1 percent, Hong Kong's Hang Seng rose 0.5 percent and Benchmarks in Singapore, Taiwan and New Zealand also were up.

European stock markets were also boosted by the Asian figures added to the European Central Bank and Germany’s constitutional court news. The ECB said it would provide unlimited liquidity to banks until the end of this year and press on with its policy of buying euro government bonds since euro zone credit markets were still not functioning properly. The highest German court rejected a lawmaker's plea to block the 440 billion euro [529.7 billion dollar] European Financial Stability Facility created by the 16 euro zone governments to lend money in emergency to states shut out of credit markets.

Britain's FTSE 100 closed 0.9 percent higher at 5,132.50. Germany's DAX added 1.2 percent to 6,056.59, and France's CAC-40 was up 2.0 percent to 3,516.64. In Madrid the gain was of 3.72 percent, 2.53 percent in Milan, 1.49 percent in Amsterdam and 0.91 percent on the Swiss Market Index.

Following the global stock markets sentiment and helped by the apparently good news about the number of laid-off workers finding a job, reported by the US Labor Department, The China 100 stock index jumped 4.11% to 832.23. The Panda China Large Cap Stock Index gained 35.80 points to 950.69. The Tiger China Small & Mid Cap Stock Index closed won 4.87% to 829.82 the Dragon China Undervalued Stock Index gained 19.66 points to 732.92.

Synutra International Inc. (SYUT) [24.31, 6.03, +32.99%] is the best stock performer today, its sales rose 13.3% and net income was $9.1 million. A-Power Energy Generation Systems, Ltd. (APWR) [9.13, 1.76, +23.88%] reported today that its first-quarter net income soared on one-time gains stemming from its acquisition of a Japanese solar company and the value of outstanding warrants.

Yingli Green Energy Holding Co. Ltd. (YGE) [9.81, 1.00, +11.35%] a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, today announced the opening of its carbon-neutral Commercial Display, an area where only partners and sponsors of the 2010 FIFA World Cup can showcase and educate fans and public about their products and brands. The display will be installed at the Soccer City Stadium in Johannesburg, South Africa.

China INSOnline Corp. (CHIO) closed today with a loss of 2.94% to 0.33 per share to lead the losers list. China Biologic Products, Inc. (CBPO) a leading plasma-based biopharmaceutical company in China lost today 2.83% at 11. China Organic Agriculture (CNOA) [0.52, 0.02, -2.80%] today announced the election effective June 9, 2010 of Mr. Kyle Jiang as its new Chairman, and Mr. Qian Qi as its new Chief Executive Officer. Mr. Jiang and Mr. Qi replace Mr. Jingsong Li, who is no longer with China Organic Agriculture, as Chairman and Chief Executive Officer.

GigaMedia Ltd. (GIGM) [2.25, 0.04, -1.75%] announced plans to co-develop and jointly publish a massively multiplayer online game based on animated TV series SpongeBob SquarePants. MTV Networks Asia points out that this is the first MMO based on the extremely popular and heavily merchandised Nickelodeon property. The SpongeBob SquarePants creative team at Nickelodeon Animation Studios intends to work with GigaMedia to develop the game's environments and avatars.

The9 Limited (NCTY) [3.87, 0.05, -1.28%] has just launched its first social game, Winning Goal, a unique soccer game with great features allowing the player to create his own team of star players, play in leagues, and even bet on the World Cup. The9 Limited has also invited Diego Maradona, the soccer superstar and head coach of Argentina's national team for the 2010 World Cup, to act as the official endorser of the game.