IBT Staff Reporter

Technology an energy companies helped push Asian markets higher on Wednesday following a good quarterly results and a bullish outlook by chip maker Intel Corp in the U.S. on Tuesday and record oil prices.

Goldman Sachs lowered Alibaba's price target from 18 Yuan to 15 Yuan, or 16 percent, and lower the company's target price earnings ratio of 2009 from 33 times to 30 times, but maintained the stocks neutral rating.

The president-elect of Taiwan, Ma Ying-jeou expressed Today (April 14), Hong Kong residents could soon be travelling visa-free to Taiwan, also he would name former economics minister Chiang Pin-kung as Taiwan chief negotiator in dealing with China.

Zijin Mining Group Co., China's largest gold producer, plans to list on Shanghai Stock Market with an initial public offering of about 10 billion yuan.

China Merchants Group (CMG) announced on Tuesday that its 2007 net profit by 35.5 billion Hong Kong dollars, 39.6 percent higher than 2.54 billion HK dollars of 2006. The earnings of per share in 2007 is 1.495 HK dollars, increased 36.6 percent than 1.0943 HK dollars of 2006.

Lenovo Group, the world's fourth-largest computer maker, is planning to expand its PC market outside Asia, including the Middle East and Turkey.

Ebay Inc, the online auction site, said on Tuesday it plans to shut down the division of its business which links its web users to live auctions at other companies.

The prime index of the Bombay Stock Exchange (BSE), the Sensex, surged 2.19 percent, Tuesday, to its highest close in two weeks, as positive Q4 results announced by IT bellwether Infosys Technologies boosted market sentiments.

India's market for mobile TV services is set to touch $360 million in 2008, said Asia's leading provider of innovative IT market research and advisory firm, Springboard Research.

Yahoo's share of search ad spending grew against rival Google but lost ground in its share of searches, according to a pair of new studies.

The National Stock Exchange (NSE) has launched India's first ever Volatility Index or the India VIX, based on prices of options on the benchmark Nifty 50 Options prices.

Toyota Kirloskar Motor (TKM), the automotive joint venture between Japan's Toyota Motor Corp. and India's Kirloskar Group is set to invest Rs.1400 crore ($350 million) on a new plant in Bangalore from where it will roll out its small car in a bid to tap the largest segment of car market in India.

CV Therapeutics, the pharmaceutical company said on Tuesday it received an investment of $175 million from TPG-Axon Capital for rights to 50 percent of royalty of the Lexiscan injection, Reuters reported.

A Washington Mutual Inc director resigned on Tuesday under pressure from shareholders who have faulted the company for its declining market value amid a sharp housing downturn.

Shares of Intel shot up as the company released first quarter results that reassured investors who were concerned about falling memory chip prices and the impact of a weak U.S. economy.

Merck & Co. was found conducting its own studies of the drug Vioxx, using names of scientific authors and writing academic articles, according to two documents from the Journal of the American Medical Association.

Copper Futures ended down on Tuesday as a firmer dollar slowed demand for the red metal.

Merrill Lynch, Inc, is expected to report a loss for the first quarter of the year on Thursday, and is also expected to write down several billion dollars' worth of securities linked to the falling housing market, along with markdowns related to mono-line bond insurer and leveraged buyouts.

Washington Mutual Inc. reported a first-quarter loss of $1.14 billion late Tuesday, as the lender continues to suffer from the mortgage meltdown and credit crisis.

Tokyo stocks rebounded Tuesday on buybacks after heavy losses the previous day but gains were limited as investors remain jittery ahead of upcoming earnings reports by major U.S. corporations and financial institutions.

Comcast Corp, the top U.S. cable operator, said on Tuesday it will partner with a second file-sharing company Pando Networks as it tries to avoid a criticism over its controversial management of Internet traffic on its broadband network.

Charles Schwab Corp, the discount brokerage said on Tuesday its earnings from continuing operations rose 29 percent, spurred of by a higher-than-expected number of new client sign ups.

White sugar advanced in London after oil gains increased demand for alternative fuels like ethanol.

Corn and soybeans rallied on Tuesday amid speculation that global demand will increase as different nations buy more food for reserve to avoid food shortage.

Natus Medical Inc., a provider of health products for newborns, said on Tuesday it will acquire SonaMed Corp. by paying for the company in cash.

Research In Motion, maker of BlackBerry, will hold talks with India's government next week on Tuesday, to resolve India's security concerns, in which the country alleges it can't readily monitor BlackBerry services, while many emails sent through BlackBerry devices are not easily traceable.

Gold futures rose for a second day on Tuesday, making modest gains as a hedge against inflation after crude oil hit a new record high. Silver also rose.

AstraZeneca PLC, the second- largest drug manufacturer in the U.K., said on Tuesday it has entered into a settlement agreement with Indian generics maker Ranbaxy Laboratories Ltd to conclude a lawsuit over a patent infringement case for its Nexium drug.

Stocks turned slightly higher Tuesday afternoon following a choppy morning, influenced by record oil and gas prices, concerns about first-quarter financial results, rising inflation and upbeat earnings from Dow component Johnson & Johnson.