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Asia Pacific Market: Stocks recoup gain on bargain hunting
Aug 14,2017

Asia Pacific share market inclined on Monday, 14 August 2017, as investors chased for bottom fishing after heavy losses in the previous week on lingering geopolitical tensions over North Korea.

The market has already digested worries about a possible armed clash between the United States and North Korea n++with no major news reports (on the matter) releasedn++ in the weekend.

The days advances came after U.S. national security adviser H.R. McMaster and Central Intelligence Agency Director Mike Pompeo talked down the risk of a nuclear war with North Korea over the weekend, following remarks by President Donald Trump that American armed forces were locked and loaded, should Pyongyang act unwisely.

Among Asian bourses

Australia Stocks recoup 0.65%

Australian equity market finished session higher, as investors chased for bottom fishing after benchmark index closed near 3-week low in the previous session. Meanwhile, gain in base metal prices and broadly optimistic earnings from Bendigo and Adelaide Bank and Carsales.Com also propelled stocks buying. At the close, the S&P/ASX 200 index rose 0.65%, or 37.26 points, to 5,730.40, while the broader All Ordinaries index also closed up 0.61%, or 35.08 points at 5778.60.

The materials sector was among the best performing with mining giants BHP Billiton and Rio Tinto edging up 0.4% and 0.6%, respectively, after London copper and aluminium prices advanced on Monday, holding near recent two-year peaks on a weaker US dollar.

Technology stocks rose aided by Carsales.Com, which climbed 3.3% to hit a record high. The auto classifieds website operator reported an 8% increase in its revenue for fiscal 2017.

Bendigo and Adelaide Bank gained 8% after it posted a 4% increase in its cash earnings for the 12-months ended June 30.

Meanwhile, Commonwealth Bank of Australia gained 1% after it said its chief executive Ian Narev would retire by June 2018, in the wake of a scandal over money laundering and terror financing allegations.

Rubber products group Ansell slipped 3% after the rubber-products maker said its full-year profit fell 7.2%, missing forecasts, as it was hurt by climbing raw material costs and one-off acquisition charges.

Aurizon Holdings was down 1.5% after the coal rail operator said it had decided to quit its freight business.

Nikkei extends losses on geopolitical tension over North Korea

The Japan share market finished session at three-month low, as a firmer yen compounded ongoing concern over tension between North Korea and the U.S. however, the markets downside drew support from data showing Japans solid economic growth. Most of the TSE sectors declined, with iron and steel, nonferrous metal and metal product-related issues comprised those that declined the most by the close of play. The 225-issue Nikkei Stock Average lost 192.64 points, or 0.98%, from Thursday to finish the day at 19,537.10, marking its lowest close since May 2. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 18.19 points, or 1.12%, lower to close at 1,599.06. Japan share market dosed on Friday, 11 August 2017, for Obon holiday.

The stronger yen battered automakers Toyota, Nissan, Honda and Subaru, camera producer Canon and electronics maker Panasonic. Megabank groups Mitsubishi UFJ, Sumitomo Mitsui and Mizuho as well as insurers Dai-ichi Life and Sompo Holdings met with selling after their U.S. peers lost ground in New York trading on Friday. Other major losers included steelmaker JFE Holdings and precision equipment maker V-Technology. By contrast, Nexon jumped 14.25% after the online game provider on Thursday reported a robust operating profit for the first half of 2017.

Japans economy expanded at the fastest pace in more than two years in the second quarter as consumer and company spending picked up, highlighting a long-awaited bounce in domestic demand. The worlds third-largest economy expanded by a much stronger-than-expected annualised rate of 4.0% in April-June, posting its longest uninterrupted run of growth in a decade, government data showed on Monday. Compared to the previous quarter, the economy expanded 1.0%, versus the median estimate for 0.6% growth. Japans growth had been largely reliant on robust exports earlier in the year, though there were signs private consumption was picking up. Annualised GDP for previous quarter was revised up to a 1.5% increase, while quarterly real (inflation adjusted) GDP was revised up to 0.4% growth from a 0.3% increase.

China Stocks up on bargain hunting

The Mainland China equity market ended higher, as mainland investors chased for bargain hunting after heavy losses in the previous session. However, margain gains were limited as economic data suggested the potential for slowing growth in the worlds second-largest economy. Most of SSE sectors inclined, with shares in the high-tech, consumer and healthcare firms being notable gainers. The blue-chip CSI300 index rose 1.3%, to 3,694.68, while the Shanghai Composite Index gained 0.9% to 3,237.36 points.

Alcohol makers rose. Kweichow Moutai regained ground lost on Friday to rise 3.3% to a record-high close of 499.83 yuan.

Steel producers were higher after data showed Chinas steel output rose 10.3% in July to a monthly record of 74.02 million tonnes. However, steel prices declined in Shanghai after the Shanghai Futures Exchange moved on Friday to limit intraday rebar positions and hiked fees to combat speculative trading. Hesteel Co Ltd rose 1.7% and Angang Steel Co Ltd gained 3.1%.

Aluminum Corp of China gained 0.8% despite data showing that Chinas aluminum output fell 8.2% in July from a record high a month earlier. Capacity cuts have sent prices to multi-year highs.

Display company BOE Technology Group Co gained 3%, and was the most traded component of the CSI300 index by volume.

Voice recognition software maker iFlytek Co gained the daily limit of 10%. The company said last week that its first-half profits rose 58.1%.

ECONOMIC NEWS: 1) China retail sales came in below expectations in July although growth remained in double digits for the fifth straight month, according to statistics released by the National Bureau of Statistics on Monday. Retail sales grew 10.4% in July to CNY2.96 trillion, the lowest since the January-February period. It was 0.6%age point lower than 11% in June. For the January to July period, retail sales reached CNY20.2 trillion, a 10.4% year-on-year increase. The growth rate was flat with the January-June period.

2) Chinas industrial output growth slowed sharply in July following a sharp increase in June, an indication that the countrys economic growth is slowing. Industrial output grew 6.4% on an annualized basis, well below the 7.6% growth rate in June, while still above the 6.0% growth rate recorded in July 2016, the National Bureau of Statistics (NBS) said Monday. The July industrial output growth rate was the lowest since the January-February period this year. On a seasonally adjusted basis, industrial output increased 0.41% month-on-month in July, below the rates of 0.81% in June and 0.51% in May, also lower than the 0.52% rate last July. The July growth rate was the lowest since December 2015, matching that months 0.41% increase. For the January-July period, industrial output increased 6.8% on a year-on-year basis, above the 6.0% increase during the same period last year. The National Bureau of Statistics (NBS) cited three reasons for the slowdown in July industrial output growth: hot weather causing more factories to shut down production temporarily; the effect of flooding in southern China; and the impact of the governments continued drive to eliminate excess industrial capacity.

Hong Kong Stocks end higher

The Hong Kong stock market finished higher, as investor chased for bottom fishing following sharp falls on Friday, largely shrugging off Chinas official data indicating slowing growth in the worlds second-largest economy. The Hang Seng index rose 1.4% to 27,250.23 points, while the China Enterprises Index gained 1.3% to 10,707.24 points. Turnover decreased significantly to HK$85.2 billion from HK$139.4 billion on Friday.

The northbound quota balance of the Shanghai-HK Connect program was RMB13.212 billion, surpassing the daily allowed quota of RMB13 billion. It implied a net outflow of RMB212 million. The southbound quota balance was RMB10.932 billion, also exceeding the daily allowed quota of RMB10.5 billion. As for the Shenzhen-HK Connect, the northbound quota balance was RMB12.462 billion, accounting for 95.9% of the daily allowed quota of RMB13 billion. The southbound quota balance was RMB10.099 billion, accounting for 96.2% of the daily allowed quota of RMB10.5 billion.

Heavyweight Tencent Holdings jumped 4.3% on bargain hunting. Despite its 4.9% tumble on Friday, the stock is up more than 70% so far in 2017 amid a robust growth outlook for its online games and WeChat messaging platform. It was well supported by Apple-supplier AAC Technologies Holdings and Geely Automobile Holdings, which rose at least 4.3%. Tencent will report its earnings on Wednesday (16 August). Citi Research rated the stock buy with a target price of HK$380.

Industrial & Commercial Bank of China (ICBC), China Construction Bank (CCB) and Bank of China (BOC) rose at least 1.6% to pace gains for mainland financial companies, despite weaker-than-expected Chinese retail sales and industrial output data for July.

AAC soared 7% to HK$114.2 after Nomura raised its target price for the dynamic components manufacturer by 14% to HK$130. Hutai Research also lifted its target price for AAC to HK$125 from HK$112. Sunny Optical (02382) surged 8.3% to HK$104.5 ahead of its earnings report later today.

China Unicom (00762) release positive profit alert, expecting its interim net to soar 69% to RMB2.4 billion. It jumped 5.6% to HK$12.02. China Mobile (00941) softened 0.3% to HK$87.45. China Telecom (00718) edged up 0.5% to HK$3.8.

Sands China added 0.4% after the casino operator late on Friday posted a 23% increase in first-half group net profit.

.Indian Market nudges higher on positive global stocks

Indian bourses logged modest gains on first trading day of the week boosted by positive global cues. The barometer index, the S&P BSE Sensex, gained 235.44 points or 0.75% to settle at 31,449.03. The Nifty 50 index gained 83.35 points or 0.86% to settle at 9,794.15. Global stocks rallied as US inflation data dampened prospects of a rate hike this year. Stock markets remain closed tomorrow, 15 August 2017, on account of Independence Day.

Among the sectoral indices on BSE, the BSE Materials index (up 2.82%), the BSE Realty index (up 5.95%), the BSE Power index (up 2.5%) and the BSE Metal index (up 3.53%) outperformed the Sensex. The BSE Teck index (down 0.4%), the BSE Bankex (up 0.48%) and the BSE Telecom index (up 0.05%) outperformed the Sensex.

Bank stocks rose. Among private bank stocks, RBL Bank (up 1.29%), HDFC Bank (up 0.15%), ICICI Bank (up 1.64%), Axis Bank (up 0.27%) and Yes Bank (up 2.22%) rose. Kotak Mahindra Bank (down 0.87%) and IndusInd Bank (down 0.14%) fell.

Among PSU bank stocks, Indian Bank (up 4.73%), Central Bank of India (up 4.57%), Punjab National Bank (up 2.1%), Canara Bank (up 1.77%), Bank of India (up 1.29%) and Union Bank of India (up 0.59%) rose. State Bank of India (SBI) (down 0.93%) and IDBI Bank (down 0.57%) fell.

Bank of Baroda slipped 0.25% after net profit fell 52% to Rs 203.39 crore on 1.9% rise in total income to Rs 12103.86 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours on Friday, 11 August 2017. Gross non-performing assets (NPAs) rose to Rs 46172.77 crore as on 30 June 2017 as against Rs 42718.70 crore as on 31 March 2017 and Rs 42991.68 crore as on 30 June 2016. The ratio of gross NPAs to gross advances rose to 11.4% as on 30 June 2017 as against 10.46% as on 31 March 2017 and 11.15% as on 30 June 2016. The ratio of net NPAs to net advances rose to 5.17% as on 30 June 2017 as against 4.72% as on 31 March 2017 and 5.73% as on 30 June 2016. Provisions and contingencies rose 18.16% to Rs 2368.05 crore in Q1 June 2017 over Q1 June 2016. The Provision Coverage Ratio (PCR) stood at 66.28% as at 30 June 2017. Separately, Bank of Baroda said that it allotted 8,500 Basel III compliant unsecured, perpetual bonds carrying coupon of 8.65% and face value of Rs 10 lakh each worth Rs 850 crore to ten allottees on 11 August 2017.

Metal shares were in demand. Jindal Steel & Power (up 7.18%), National Aluminium Company (up 5.67%), Tata Steel (up 4.21%), Vedanta (up 3.77%), Hindalco Industries (up 3.76%), JSW Steel (up 3.96%), Hindustan Zinc (up 3.84%), Hindustan Copper (up 3.68%), Bhushan Steel (up 3.46%), NMDC (up 2.85%) and Steel Authority of India (up 2.56%) edged higher.

Adani Ports & Special Economic Zone (APSEZ) gained 3.07%. The companys consolidated net profit fell 13.7% to Rs 710.25 crore on 50.3% rise in net sales to Rs 2745.14 crore in Q1 June 2017 over Q1 June 2016. The announcement of results was made on Saturday, 12 August 2017. The stock had dropped 7.27% in three sessions to settle at Rs 383.90 on 11 August 2017, from a close of Rs 414 on 8 August 2017 ahead of the results.

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China Stocks up on bargain hunting
Aug 14,2017

The Mainland China equity market ended higher on Monday, 14 August 2017, as mainland investors chased for bargain hunting after heavy losses in the previous session. However, margain gains were limited as economic data suggested the potential for slowing growth in the worlds second-largest economy. Most of SSE sectors inclined, with shares in the high-tech, consumer and healthcare firms being notable gainers. The blue-chip CSI300 index rose 1.3%, to 3,694.68, while the Shanghai Composite Index gained 0.9% to 3,237.36 points.

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Nikkei extends losses on geopolitical tension over North Korea
Aug 14,2017

The Japan share market finished session at three-month low on Monday, 14 August 2017, as a firmer yen compounded ongoing concern over tension between North Korea and the U.S. however, the markets downside drew support from data showing Japans solid economic growth. Most of the TSE sectors declined, with iron and steel, nonferrous metal and metal product-related issues comprised those that declined the most by the close of play. The 225-issue Nikkei Stock Average lost 192.64 points, or 0.98%, from Thursday to finish the day at 19,537.10, marking its lowest close since May 2. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 18.19 points, or 1.12%, lower to close at 1,599.06. Japan share market dosed on Friday, 11 August 2017, for Obon holiday.

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Australia Stocks recoup 0.65%
Aug 14,2017

Australian equity market finished session higher on Monday, 14 August 2017, as investors chased for bottom fishing after benchmark index closed near 3-week low in the previous session. Meanwhile, gain in base metal prices and broadly optimistic earnings from Bendigo and Adelaide Bank and Carsales.Com also propelled stocks buying. At the close, the S&P/ASX 200 index rose 0.65%, or 37.26 points, to 5,730.40, while the broader All Ordinaries index also closed up 0.61%, or 35.08 points at 5778.60.

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Asia Pacific Market: Stocks Rattled by North Korea Tensions
Aug 11,2017

Asia Pacific share market closed down on Friday, 11 August 2017, as risk-off selling flared on escalating sabre-rattling between North Korea and the US. MSCIs broadest index of Asia-Pacific shares outside Japan dropped 0.5%.

Overnight, Wall Street closed sharply lower after Trump, with fiery rhetoric, warned Pyongyang against attacking Guam or US allies after it disclosed plans to fire missiles over Japan to land near the US Pacific territory. Trump took specific aim at North Korean leader Kim Jong Un, saying, he had disrespected our country greatly, and would not be getting away with it.

Trump issued a new warning to Pyongyang on Friday, saying in a tweet: Military solutions are now fully in place, locked and loaded, should North Korea act unwisely. North Korea had responded to Trumps previous promise to unleash fire and fury with a threat to land a missile near the U.S. Pacific territory of Guam.

In commodities, Gold prices, which hit a two-month low on Thursday, were steady at USD 1,286.16 an ounce, after surging over 2% in the past two sessions. Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in U.S. crude inventories, leaving prices volatile. US crude oil crude futures edged up 10 cents to $48.69 per barrel. Brent was last at $52.01, up 0.21% on the day.

Among Asian bourses

Australia Stocks fall 1.2%

Australian equity market finished session near 3-week low, as investors fled to safer assets after the inflammatory exchange of words between North Korea and the United States heightened geopolitical tensions and uncertainty in financial markets. At the close, the S&P/ASX200 index was 1.2%, or 67.8 points lower at 5693.1 while the broader All Ordinaries index also closed down 1.2%, or 67 points at 5743.5. For the week, the S&P/ASX200 index was down 0.5%.

Shares of financial declined, with Australias top mortgage lender Commonwealth Bank of Australia slipping 0.7% to settle at its lowest in over two months. Sentiment in the banking sector was also dented after Australias central bank said it aims to keep interest rates at record lows for a while, with any tightening quite some time away and likely to be gradual as households try to whittle down a mountain of debt. CBA shares down 0.7% to $80.50, Westpac closed 1.3% lower, ANZ lost 1.9%, while NAB shares dropped 1%, after it provided the market with a third-quarter update.

Material stocks - vulnerable to heightened risk aversion - bore the brunt of the geopolitical tensions, with miners BHP Billiton and Rio Tinto slipping 2% and 2.8%, respectively.

The flight from riskier assets helped gold stocks, as spot gold prices rose this week. Newcrest Mining rose 2.1% to close at its highest in three-and-a-half months, and posted its fourth straight session of gains.

China Stocks fall as North Korea tensions simmer

The Mainland China equity market ended steep lower, as mainland investors opted to book profit made in recent session amid escalating tensions between North Korea and the United States. Most of SSE sectors declined, with shares in the mining, financials, and manufacturing sectors being notable losers. The Shanghai Composite Index shed 1.6%, or 53.21 points, to 3,208.54, while the Shenzhen Composite Index lost 1.6%, or 30.0 points, to 1,842.6.

Concerns over North Koreas plan to fire ballistic missiles into waters near the U.S. territory of Guam in the Pacific Ocean have shaken markets around the world, and they are now affecting markets in China. U.S. President Donald Trump on Thursday escalated his threats against the Asian nation, saying he may not have been tough enough earlier this week, when he declared Pyongyangs threats will be met with fire and fury.

Shares in materials firms continued their downward course, with Xiamen Tungsten falling 9%, while Jiangxi Copper lost 8% as prices of some metals in Shanghai also felt the pressure of rising North Korea-United States tensions.

Hong Kong Stocks tumble

The Hong Kong stock market finished lower for third straight session, as investor sentiment succumbed to tensions between the U.S. and North Korea. The market also took a huge knock from technology giant Tencent, after news emerged that its successful messaging app, WeChat, and two other Chinese tech heavyweights are being probed by the government. The Hang Seng Index slid 2.0% or 560.49 points at 26,883.51, capping a weekly loss of 2.5%, its worst in 2017. The Hang Seng China Enterprises Index also fell 1.9% or 209.23 points to 10,572.97. Turnover increased to HK$139.4 billion from HK$122 billion on Thursday.

Utilities counters became buying targets of risk-averse investors. CLP Holdings (00002) gained 0.8% to HK$82.9. Power Assets (00006) was unchanged at HK$78.1.

REITs failed to display their defense capabilities. Link REIT (00823) fell 0.7% to HK$62.5. Fortune REIT (00778) slipped 1.9% to HK$9.2. Champion REIT (02778) sank 3.2% to HK$5.77.

Financials were lower, led by China Life which was lower 2.9% to HK$23.55 and China Construction Bank which fell 1.6% at HK$6.34.

Chinas largest aluminium producer was among the biggest loser, tumbling 8.9% to HK$5.19. Coal mining giant China Shenhua also slid 4.4% to HK$19.1. Geely Auto skidding 4.5% to HK$18.42. Apple supplier AAC Tech had 3.8% peeled from its value, to HK$106.7.

Tencent tumbled 4.9% to HK$310.6 as Chinas internet watchdog announced it is probing WeChat as well as social media platforms backed by Baidu and Sina. It accused the three of violating cyber security laws because their users have n++spread information deemed a threat to the national security, including pornography, rumours and violencen++.

Wanda Hotel Development rose for a second day, surging 9% to HK$1.52. Its share price skyrocketed 40% on Thursday after it said it would buy property and tourism assets from Dalian Wanda Group chairman Wang Jianlin.

Sensex settles at over 5-1/2-week low

Indian stock market registered strong losses on last trading day of the week on weak global cues amid escalating tensions between the US and North Korea. Sentiment was also affected adversely after the finance ministry said in its mid-year economic survey today, 11 August 2017, that there are downside risks to the Indian governments growth forecast of 6.75-7.5% for the fiscal year to March 2018. The barometer index, the S&P BSE Sensex, lost 317.74 points or 1.01% to settle at 31,213.59. The Nifty index lost 109.45 points or 1.11% to settle at 9,710.80.

Metal and mining stocks dropped. Hindalco Industries slumped 7.15% after net profit fell 1.36% to Rs 290 crore on 27.55% growth in revenue from operations to Rs 10407 crore in Q1 June 2017 over Q1 June 2016.

MOIL rose 3.57% after the company said its board recommended 1:1 bonus issue of shares. MOIL announced that its net profit surged 107.3% to Rs 97.73 crore on 82.7% increase in net sales to Rs 339.40 crore in Q1 June 2017 over Q1 June 2016.

State Bank of India (SBI) lost 5.36% after the banks net profit fell 20.44% to Rs 2005.53 crore on 28.57% rise in total income to Rs 62911.08 crore in Q1 June 2017 over Q1 June 2016. The first quarter results are not comparable with year ago period due to merger of its subsidiaries with self, SBI said.

Japan share market dosed on Friday, 11 August 2017, for Obon holiday.

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Hong Kong Stocks tumble 2%
Aug 11,2017

The Hong Kong stock market finished lower for third straight session on Friday, 11 August 2017, as investor sentiment succumbed to tensions between the U.S. and North Korea. The market also took a huge knock from technology giant Tencent, after news emerged that its successful messaging app, WeChat, and two other Chinese tech heavyweights are being probed by the government. The Hang Seng Index slid 2% or 560.49 points at 26,883.51, capping a weekly loss of 2.5%, its worst in 2017. The Hang Seng China Enterprises Index also fell 1.9% or 209.23 points to 10,572.97. Turnover increased to HK$139.4 billion from HK$122 billion on Thursday.

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China Stocks fall as North Korea tensions simmer
Aug 11,2017

The Mainland China equity market ended steep lower on Friday, 11 August 2017, as mainland investors opted to book profit made in recent session amid escalating tensions between North Korea and the United States. Most of SSE sectors declined, with shares in the mining, financials, and manufacturing sectors being notable losers. The Shanghai Composite Index shed 1.6%, or 53.21 points, to 3,208.54, while the Shenzhen Composite Index lost 1.6%, or 30.0 points, to 1,842.6.

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Asia Pacific Market: Korean tensions likely continue selloff
Aug 11,2017

Asia Pacific share market expected to commence trading with a back-foot note on Friday, 11 August 2017, due to ramping up of tensions between the US and North Korea after President Donald Trump doubled down on his warnings to North Korea over its nuclear programme.

Overnight, Wall Street closed sharply lower after Trump, with fiery rhetoric, warned Pyongyang against attacking Guam or US allies after it disclosed plans to fire missiles over Japan to land near the U.S. Pacific territory. Trump took specific aim at North Korean leader Kim Jong Un, saying, he had disrespected our country greatly, and would not be getting away with it.

The Dow Jones Industrial Average fell 0.9% to end at 21,844.01, the only close below 22,000 since breaking through that level for the first time August 2. The broad-based S&P 500 was hit even harder, dropping 1.5% to close at 2,438.22, while the tech-rich Nasdaq Composite Index lost 2.2% 6,216.87.

The MSCI World index dropped 1.1% overnight in its third straight day of declines and its biggest one-day slide since May 17, as US President Donald Trump stepped up his rhetoric against North Korea.

In commodities, Crude failed to hold the 50 per barrel level, falling nearly 2% topping at $50.22 earlier in the session. Gains came following an OPEC report, which upped its demand forecast for its oil in 2018 by over 200k barrels per day to 32.42 million barrels per day. At the same time, the cartel revealed that its July production was 32.87 million barrels per day, above its increased 2018 demand prediction.

Libya, Nigeria, and Saudi Arabia were the main drivers behind the OPEC production increase, with Libya raising its output by 154,300 bpd - by far the biggest increase among the cartels members. Nigerian oil production rose by 34,300 bpd to 1.748 million bpd, while Saudi Arabias went up by 31,800 bpd to 10.067 million bpd. On the other hand, OPEC reported, based on secondary sources, Iraqi oil output fell by 33,100 bpd ion July, the biggest decline among OPEC members. The second-largest decline came from Angola, whose production fell by 19,300 bpd, and Venezuelas output dropped by 15,800 bpd.

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Asia Pacific Market: Stocks down on geopolitical tensions
Aug 10,2017

Asia Pacific share market ended lower on Thursday, 10 August 2017, on tracking weak cues from offshore market overnight and due to elevated geopolitical concerns regarding North Korea. MSCIs broadest index of Asia-Pacific shares fell 0.5%.

Geopolitical tensions elevated after North Korea said it is considering launching intermediate missiles into waters near the U.S. territory of Guam. It also outlined detailed plans for a missile strike near Guam, which is more than 3,000 km (2,000 miles) to the southeast of North Korea and home to about 163,000 people, a U.S. Navy base that includes a submarine squadron and an air base. North Korea will develop a plan by mid-August for launching missiles to fall 30 to 40 kilometers away from Guam in the Pacific Ocean, the nations state media reported Thursday.

U.S. Secretary of State Rex Tillerson said Wednesday the Asian country posed no imminent threat, several hours after U.S. President Donald said further threats from the North would be met with fire and fury.

In commodities, crude oil regained momentum as data pointed to declining U.S. inventories. Brent crude was up 80 cents at $53.50 a barrel and U.S. crude was up 60 cents and back up to $50. Steel and copper prices stayed strong in metals markets.

The markets main backstop in times of strain, gold, hit a two-month high of $1,282 an ounce amid the nervousness. It was not only the threat of conflict with nuclear-ambitious North Korea. A U.S. Navy destroyer sailed within 12 nautical miles of an artificial island built up by China in a challenge to Beijings territorial claims.

Among Asian bourses

Australia Stocks fall in choppy trade

Australian equity market finished session slight lower, as sentiments turned downbeat, with shares of financial being major losers, meanwhile ex-dividend trading Rio Tinto also weighed on the index. At the close, the S&P/ASX 200 index fell 4.76 points, or 0.1%, to 5,760.9.

Top lenders Westpac Banking Corp and Australia and New Zealand Banking Group fell about 0.3% each while National Australia Bank recovered to settle slightly higher.

Rio Tinto, trading ex-dividend, was the biggest drag on the index. The mining giant fell 2.1% to close at its lowest in a week, while BHP Billiton gave up gains to slip 0.5%.

Shares of Woolworths dipped 0.8% after Australias antitrust regulator said it was concerned BP Plcs plan to buy the petrol stations of the grocery giant would hurt competition, a sign it may block the A$1.8 billion deal.

Meanwhile, gold stocks finished the session strong, backed by solid yellow metal prices. Newcrest Mining rose 3.8% to post its highest close in over seven weeks, and kept the index from slipping further.

Financial services giant AMP fell 3per cent after it said first-half statutory profit had slipped 15% to A$445 million, on the back of volatile market movements.

Virgin Australia shares were up 6% after reported a smaller-than-expected annual loss and said its outlook had brightened with a surge in business confidence lifting corporate traffic. The carrier posted A$220.3 million full-year loss saying a weak domestic market had weighed on improved cost management and improvements in the international business.

AGL Energy shares closed at A$25, after the energy retailer swung to a full-year net profit of A$539 million, from its previous years A$408 million loss.

Nikkei falls on geopolitical concerns

The Japan share market finished session slight lower, as risk sentiments remained downbeat amid geopolitical concerns over the Korean Peninsula while some investors squared away positions ahead of the three-day Obon holiday weekend here in Japan. Most of the TSE sectors declined with insurance, bank and construction-linked shares comprised those that declined the most. The Nikkei finished down 8.97 points, or 0.1%, at 19,729.74. The broader Topix shed 0.65 point to 1,617.25. Tokyo markets closed Friday for Japan public holiday.

Financial stocks underperformed after U.S. Treasury yields fell as bond prices rose in Wednesdays flight to safety. Insurers and banks, which invest in higher-yielding products such as foreign bonds, underperformed after U.S. Treasury yields fell on Wednesday, with the yields on the benchmark 10-year note hitting a six-week low. Dai-ichi Life Holdings dropped 1%, T&D Holdings fell 2.2% while Mitsubishi UFJ Financial Group declined 0.9%.

Cosmetics maker Shiseido Co soared 13.8% after raising its operating profit outlook to 56 billion yen from 45.5 billion yen for the year through December, thanks to strong sales in high-end cosmetics. It also raised its annual dividend forecast to 25 yen from 20 yen per share.

Toshiba Corp. Shares gained 1% to close at 293 yen after the troubled conglomerate met a deadline to report its long-awaited earnings results, reducing the risk that the firm will be delisted from the Tokyo Stock Exchange. The embattled electronics firm posted a loss of $8.8 billion for the last fiscal year. Auditor PricewaterhouseCoopers Aarata gave a qualified opinion on the financial statements, meaning it broadly endorsed the results. Toshiba has struggled to recover from a 2015 accounting scandal. The firms troubles started in 2015 when it was found to have inflated the previous seven years profits by $1.2 billion. The accounting scandal led to the resignation of several members of the firms senior management, including the chief executive.

China Stocks fall on profit booking

The Mainland China equity market dropped, as profit taking triggered on tracking weak cues from regional and global markets, with materials and resources stocks being major losers after Chinas largest aluminium producer warning investors of market risks. The blue-chip CSI300 index fell 0.4%, to 3,715.92 points. The Shanghai Composite Index lost 0.4%, clsoing at 3,261.75 points.

The materials sub-index, which had risen more than 30% since the beginning of June lost 2.4%, weighed down by losses in steel producers. Shares in steel and copper producers were also hit even as prices of those commodities remained strong. Chinese steel futures rose to near 4-1/2-year highs on Thursday, and Shanghai copper futures remained at levels last seen in 2013. Jiangxi Copper Co closed down 4.3%, and Baoshan Iron & Steel Co fell 4.8%. Hesteel Co was off by 4%.

Shares in Aluminum Corp of China were down 4% from their highest close in more than two years, after the company warned investors to be aware of market volatility and secondary market trading risks. Chalco said rises in the price of electricity could increase costs, and that market expectations have changed. China aluminium prices hit five-year highs on Thursday as investors bet that capacity closures would tighten supply.

Hong Kong Stocks hit by US - North Korea tensions

The Hong Kong stock market finished lower for second straight session, as risk-off selling flared on elevated tension over North Korea. The Hang Seng Index ended down 313 points or 1% to 27,444. The H-share index fell 180 points or 1.6% to 10,782. Turnover increased to HK$122 billion from HK$96.4 billion on Wednesday.

Wharf Holdings (00004) plunged 7% to HK$74.05 after Nomura has downgraded its rating for the developer to neutral from buy.

HKEX (00388) dived 4.3% to HK$218. Deutsche Bank has lifted its target price for the stock exchange operator to HK$170.7 but maintained its sell rating.

Hang Seng Bank (00011) gained 1% to HK$176.3 ahead of its going ex-dividend tomorrow. JP Morgan upgraded its rating for the local bank to overweight from neutral. HSBC (00005) slipped 1.5% to HK$76.5.

China Mobile (00941) rose 2.8% to HK$87 after the mobile services giant reported its half-yearly earnings climbed 3.5% from a year earlier to 62.7 billion yuan. It also announced an interim dividend of HK$1.623 a share and a special dividend of HK$3.20 a share.

Wanda Hotel Development surged 28% after announcing plans to buy assets worth more than $1 billion from companies controlled by its billionaire founder Wang Jianlin. Trading in Wandas shares was halted on Wednesday.

Sensex hits over one-month closing low

Indian stock market dropped in tandem with global stocks to register losses for fourth day in a row. The barometer index, the S&P BSE Sensex, lost 266.51 points or 0.84% to settle at 31,531.33. The Nifty 50 index lost 87.80 points or 0.89% to settle at 9,820.25. Global stocks declined on escalating tensions between the US and North Korea.

Tata Motors slumped 8.6% to Rs 380.90 after declaring Q1 result after market hours yesterday, 9 August 2017. ata Motors consolidated net profit rose 41.59% to Rs 3200 crore on 9.92% drop in revenue to Rs 58651 crore in Q1 June 2017 over Q1 June 2016.

Tata Motors consolidated revenue was lower due to translation impact from Pound to Rupee. Also, PAT in Q1 June 2017 was boosted by a one-time gain of Rs 3609 crore relating to the changes made to the Jaguar Land Rover (JLR) pension plans.

Aurobindo Pharma declined 0.17%, with the stock extending losses after the company reported weak Q1 June 2017 results after market hours yesterday, 9 August 2017. Aurobindo Pharmas consolidated net profit fell 11.4% to Rs 518.50 crore on 2.3% decline in revenue from operations to Rs 3678.70 crore in Q1 June 2017 over Q1 June 2016. EBITDA (earnings before interest, taxation, depreciation and amortization) before forex and other income fell 5.3% to Rs 841.60 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin contracted to 22.9% in Q1 June 2017, from 23.6% in Q1 June 2016.

Eicher Motors lost 4.21%. The companys consolidated net profit rose 22.1% to Rs 459.62 crore on 28.5% growth in net sales to Rs 1991.78 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 9 August 2017.

NMDC declined 3.68%. The companys net profit rose 36.2% to Rs 969.20 crore on 65.1% growth in net sales to Rs 2841.53 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 9 August 2017.

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Hong Kong Stocks hit by US - North Korea tensions
Aug 10,2017

The Hong Kong stock market finished lower for second straight session on Thursday, 10 August 2017, as risk-off selling flared on elevated tension over North Korea. The Hang Seng Index ended down 313 points or 1% to 27,444. The H-share index fell 180 points or 1.6% to 10,782. Turnover increased to HK$122 billion from HK$96.4 billion on Wednesday.

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China Stocks fall on profit booking
Aug 10,2017

The Mainland China equity market dropped on Thursday, 10 August 2017, as profit taking triggered on tracking weak cues from regional and global markets, with materials and resources stocks being major losers after Chinas largest aluminium producer warning investors of market risks. The blue-chip CSI300 index fell 0.4% to 3,715.92 points. The Shanghai Composite Index lost 0.4% to 3,261.75 points.

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Nikkei falls on geopolitical concerns
Aug 10,2017

The Japan share market finished session slight lower on Thursday, 10 August 2017, as risk sentiments remained downbeat amid geopolitical concerns over the Korean Peninsula while some investors squared away positions ahead of the three-day Obon holiday weekend here in Japan. Most of the TSE sectors declined with insurance, bank and construction-linked shares comprised those that declined the most. The Nikkei finished down 8.97 points, or 0.1%, at 19,729.74. The broader Topix shed 0.65 point to 1,617.25. Tokyo markets closed Friday for Japan public holiday.

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Australia Stocks fall 0.1%
Aug 10,2017

Australian equity market finished session slight lower on Thursday, 10 August 2017, as sentiments turned downbeat, with shares of financial being major losers, meanwhile ex-dividend trading Rio Tinto also weighed on the index. At the close, the S&P/ASX 200 index fell 4.76 points, or 0.1%, to 5,760.9.

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China Stocks fall on soft service sector report
Aug 03,2017

The Mainland China equity market dropped on Thursday, 03 August 2017, after a private survey showed the countrys services sector cooled in July and as a net drain of funds by the central bank renewed concerns about liquidity conditions. Most sectors lost ground, led by banking and consumers stocks, while materials firms continued to outperform, capping downslide. The CSI 300 fell 0.9% to 3,727.83 while the Shanghai Composite Index slipped 0.4% to 3,272.93 and the Shenzhen Stock Exchange Component Index lost 0.3% to 10,436.17.

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Nikkei falls on profit-taking
Aug 03,2017

The Japan share market finished session lower on Thursday, 03 August 2017, pushed down by profit-taking after recent market gains attributed to brisk corporate earnings reports. Market reactions were muted as beleaguered Japanese Prime Minister Shinzo Abe announced a new cabinet, dumping arch-conservatives and embracing critical voices. Electric appliance, transportation equipment and bank-linked stocks comprised those that declined the most by the close of play. The Nikkei 225 fell 50.78 points, or 0.25%, to close at 20,029.26. The TOPIX index of all first-section issues finished down 0.56 point, or 0.03%, at 1,633.82.

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