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Asia Pacific Market: Stocks end mostly higher
Dec 09,2016

Asia Pacific share market mostly inclined on Friday, 09 December 2016, on tracking another strong day on Wall Street, where the main equity benchmarks rose to record highs Thursday on optimism that U.S. President-elect Donald Trump will unveil growth-spurring fiscal policies, including tax cuts. Also, the European Central Banks decision to extend its debt-buying programme helped to underpin risk sentiments.

U.S stocks hit new records overnight on expectations U.S. President-elect Donald Trumps economic policies would help support growth and inflation in the worlds largest economy.

The ECB trimmed back its asset buys in a surprise move on Thursday but promised protracted stimulus to aid a still fragile recovery, and dismissed any talk of tapering the programme away. The ECB said it would reduce its monthly asset buys to 60 billion euros ($63.68 billion) as of April, from the current 80 billion euros, and extend purchases to December from March - three months longer than what some analysts had forecast. That dragged down two-year yields across Europe and sharply steepened the yield curve, a gift for banks that typically borrow short maturities and lend long. The promise of lower rates for longer was taken as a green light for carry trades, where investors borrow euros at cheap rates to invest in higher yielding currencies. ECB President Mario Draghi said the unexpected move was not an outright winding-down of the central banks quantitative easing (QE) program, and the central bank reserved the right to increase the size of purchases again if the eurozone economy falters. The ECBs bond purchase changes came less than a week before the Federal Reserves policy meeting next Tuesday and Wednesday.

Investors focus will now turn to next weeks the Federal Open Market Committee meeting, during which the U.S. central bank is expected to raise rates. The market will focus on how aggressively the Fed will further tighten policy in coming quarters to keep the economy from overheating.

Oil built on its gains after rebounding overnight on growing optimism that non-OPEC producers might follow the cartels lead by agreeing to cut output. U.S. crude added 0.7% to $51.18 a barrel. Brent crude rose 0.3% to $54.06.

Spot gold was down slightly at $1,170.03 an ounce and was set for a weekly decline of about 0.6%, pressured by the stronger U.S. dollar and expectations that the Fed will raise interest rates next week.

Among Asian bourses

Australia Market ends at 4-month high

Australian share market closed session at four month peak today, with financials and energy players added leading gains. At the closing bell, the benchmark S&P/ASX 200 index advanced 17 points, or 0.31%, to 5560.60, while the broader All Ordinaries index inclined 16.80 points, or 0.3%, to close at 5615.80.

Energy stocks were ahead as crude oil prices steady on Friday, holding onto the previous sessions gains on optimism that non-Opec producers might agree to cut output. Woodside Petroleum rose 2.4% to A$30.59 and Origin Energy gained 1.6% to A$6.55.

Metals and mining stocks reversed early gains to close lower after China iron ore and steel futures ran in to profit taking after a six-day rally. Rio Tinto fell 0.1% to A$62.65 and BHP ended down 0.2% to A$25.98. Fortescue shed 0.2% to A$6.68.

Nikkei attains new 2016 high

The Japan share market inclined to a new 2016 high today, on tracking positive lead from Wall Street overnight and yen depreciation to 115 level against greenback. The Nikkei Stock Average rose 230.90 points, or 1.2%, to 18996.37, the highest level since Dec. 30 2015. The Nikkei rose 3.1% this week. The Topix index of all first-section issues finished up 12.67 points, or 0.84%, at 1,525.36.

Shares of banks and financials gained on speculation for U.S. fiscal stimulus and a higher yield environment. Japanese government bond yields rose after the European Central Banks decision Thursday to extend but scale back its monthly stimulus. Mitsubishi UFJ Financial Group Inc. gained 2.2% to 762.8 yen. Nomura Holdings Inc. rose 4.8% to Y770.6.

Energy stocks advanced after crude oil closed above $50 a barrel Thursday, as market participants turned their attention to a planned meeting between OPEC and non-OPEC producers to discuss coordinating production cuts. Oil explorer Inpex Corp. rose 4.1% to Y1,248.0. Oil distributor Idemitsu Kosan Co. gained 5.3% to Y3,130.

China Stocks end stronger

Mainland China stock market ended stronger, after official data released today showing that Chinas producer prices rose at the fastest pace in over five years in November (up.3% year on year in November, its biggest rise since October 2011). Chinas consumer prices also rose 2.3% year on year in November, accelerating from a 2.1% gain in October. The fast increase in producer prices suggests an improved demand in the macro-economy and better corporate performance. Most sectors in the mainland rose, with banks leading the gains. The Shanghai Composite Index added 0.54%, to 3,232.88, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, declined 0.35% to 2,070.01. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 0.7% to close at 2,099.89 points. For the week, the Shanghai Composite Index dipped 0.34%.

Shares of banks and infrastructure companies were biggest contributor to the market gains, with China State Construction Engineering Corp jumping 8.71% to 10.11 yuan and Bank of Communications, the countrys fifth-biggest lender, rising 4.24% to 6.15 yuan.

Casinos drag on Hong Kong stocks

The Hong Kong stock market finished down for the first time in last four sessions, with Macau gaming counters leading retreat after a report that China was restricting cash withdrawals in Macau amid efforts to control capital outflows. The Hang Seng Index ended down 0.44%, or 100.86 points, to 22,760.98, while the Hang Seng China Enterprises index declined 0.29%, or 28.87 points, to 9,867.95. Turnover increased to HK$76.4 billion from HK$73.5 billion on Thursday. For the week, Hang Seng index still rose 0.9%.

Shares of casino operators including tumbled after a report that Macau was preparing to halve the amount of cash China UnionPay card holders can withdraw from ATM machines. The shares clawed back some of their losses after China UnionPay dismissed cash-curb reports. Galaxy Entertainment (00027) slipped 7% to HK$35. Sands China (01928) plunged 7.9% to HK$34.55. Melco International (00200) dived 10.4% to HK$11.22. Wynn Macau (01128) declined 7% to HK$13.1.

Nifty hits 4-weeks closing high

Key benchmark indices ended on a positive note after hovering in narrow range for most part of the session. The barometer index, the S&P BSE Sensex, rose 52.90 points or 0.20% to settle at 26,747.18. The Nifty 50 index rose 14.90 points or 0.18% to settle at 8,261.75. The Sensex hits its highest closing level in more than two weeks. The Nifty hits its highest closing level in four weeks.

Mahindra & Mahindra (M&M) fell 1.43% to Rs 1,189.10. The company said it will be undertaking scheduled maintenance shutdown at some of its automotive and tractor plants in December 2016. It will also observe on need basis few days as no production days at some of its automotive/tractor plants including Chakan plant of its wholly-owned subsidiary Mahindra Vehicle Manufacturers as part of its efforts to optimize inventories during December year-end. The management does not envisage any adverse impact on the availability of products in the market due to adequacy of stocks to serve the market requirements.

Elsewhere in the Asia Pacific region: New Zealands NZX50 shed 0.3% to 6893.30. Indonesias Jakarta Composite index added 0.1% to 5308.13. Taiwans Taiex grew 0.2% to 9392.68. South Koreas KOSPI index was down 0.3% to 2024.69. Malaysias KLCI slipped 0.1% to 1641.42. Singapores Straits Times index fell 0.1% to 2956.13.

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Australia Market ends at 4-month high
Dec 09,2016

Australian share market closed session at four month peak on Friday, 09 December 2016, with financials and energy players added leading gains. At the closing bell, the benchmark S&P/ASX 200 index advanced 17 points, or 0.31%, to 5560.60, while the broader All Ordinaries index inclined 16.80 points, or 0.3%, to close at 5615.80.

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Nikkei attains new 2016 high
Dec 09,2016

The Japan share market inclined to a new 2016 high on Friday, 09 December 2016, on tracking positive lead from Wall Street overnight and yen depreciation to 115 level against greenback. The Nikkei Stock Average rose 230.90 points, or 1.2%, to 18996.37, the highest level since Dec. 30 2015. The Nikkei rose 3.1% this week. The Topix index of all first-section issues finished up 12.67 points, or 0.84%, at 1,525.36.

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Casinos drag on Hong Kong stocks
Dec 09,2016

The Hong Kong stock market finished down for the first time in last four sessions on Friday, 09 December 2016, with Macau gaming counters leading retreat after a report that China was restricting cash withdrawals in Macau amid efforts to control capital outflows. The Hang Seng Index ended down 0.44%, or 100.86 points, to 22,760.98, while the Hang Seng China Enterprises index declined 0.29%, or 28.87 points, to 9,867.95. Turnover increased to HK$76.4 billion from HK$73.5 billion on Thursday. For the week, Hang Seng index still rose 0.9%.Shares of casino operators including tumbled after a report that Macau was preparing to halve the amount of cash China UnionPay card holders can withdraw from ATM machines. The shares clawed back some of their losses after China UnionPay dismissed cash-curb reports. Galaxy Entertainment (00027) slipped 7% to HK$35. Sands China (01928) plunged 7.9% to HK$34.55. Melco International (00200) dived 10.4% to HK$11.22. Wynn Macau (01128) declined 7% to HK$13.1.

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Asia Pacific Market: Stocks extend gains
Dec 08,2016

Asia Pacific share market inclined on Thursday, 08 December 2016, as risk appetite buying resumed after the Wall Street powered to fresh record highs overnight. But gains across the region capped as investor eye a key European Central Bank meeting.

Markets were waiting for a statement from the European Central Bank late on Thursday. The European Central Bank (ECB) is widely expected to prolong massive monetary stimulus Thursday to spur an economy crimped by a rise in political uncertainty as exemplified by Trumps upset win, Brexit and the rise of the far right in Europe.

Among Asian bourses

Australia market spurs to 4-month high

Australian share market advanced to its highest point in nearly four months, on the back of significant gains in resources and financial stocks. With the exception of energy issue, every ASX sector was up, with technology, financial and mining issues leading rally. At the closing bell, the benchmark S&P/ASX 200 index advanced 65.50 points, or 1.2%, to 5543.60, while the broader All Ordinaries index inclined 63.60 points, or 1.15%, to close at 5599.

Shares of materials and resources were best performers among ASX sectors, thanks to jump in base metal price in overnight trade. Rio Tinto added 3.1% to A$62.73 and BHP ended up 1.2% to A$26.04. Fortescue added 1.7% to A$6.69.

Shares of financial players, which had lost ground over the last few months, were attracting the attention of international investors, in part due to a lower Australian dollar. Among major banks, Westpac added 2.1% to A$32.13, Australia & New Zealand Banking Group 2.5% to A$29.53, Commonwealth Bank of Australia 0.5% to A$79.73, and National Australia Bank 1.1% to A$29.32.

Nikkei extends gains on strong global cues

The Japan share market inclined to its best close this year, after Wall Street powered to fresh record highs overnight. But gains were limited after weak revised figures that showed Japans economy grew less than expected in the third quarter and as investors eye a key European Central Bank meeting. Total 31 out of 33 TSE industry category on the main section gained ground, with Electric Power & Gas, Securities & Commodities Futures, Insurance, Iron & Steel, Information & Communication, and Air Transportation issues being major gainers. The 225-issue Nikkei average inclined 268.78 points, or 1.45%, to close at 18,765.47. The Topix index of all first-section issues finished up 22.07 points, or 1.48%, at 1,512.69.

SoftBank shares roared again in the wake of Trumps announcement of a $50 billion investment in the US by the telecoms giant.The stock jumped more than six% on Wednesday, with investors hailing CEO Masayoshi Sons meeting with Trump in New York.

Honda Motor Corp jumped after the announcement that its joint venture in China plans to build a third production plant in the country.

Sony was up after it announced plans to release new smartphone games in April into the Japanese market.

Japans gross domestic product grew 0.3% on quarter in the third quarter of 2016, the Cabinet Office said in Thursdays final revision. That missed expectations for 0.5%, which would have been unrevised from the November 14 preliminary reading. GDP was up 0.2% in the second quarter. On a yearly basis, GDP was knocked all the way down to 1.3% from the preliminary reading of 2.2%.

Japan had a current account surplus of 1.719 trillion yen in October, the Ministry of Finance said on Thursday, rising 22.7% on year, following the 1.821 trillion yen surplus in September. The trade balance reflected a surplus of 587.6 billion, down from 642.4 billion yen in the previous month. Imports were down 15.9% on year to 5.160 trillion yen, while exports dipped 9.4% to 5.747 trillion yen.

China Stocks edge lower on weak trade data

Mainland China stock market ended slight lower on Thursday, 08 December 2016, as investors grappled with mixed data showing better-than-expected November trade numbers but a sharp fall in foreign-exchange reserves. Sectors were mixed, with banks and raw materials gained, while properties and infrastructures dropped. The Shanghai Composite Index dropped 0.21%, to 3,215.37, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, declined 0.52% to 2,077.37. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 1% to close at 2,114.71 points.

Investors risk appetites were dented after data late on Wednesday showed forex reserves fell nearly $70 billion last month to the lowest level in nearly six years, as the central bank struggled to prop up the yuans value. However, unexpectedly strong trade data on Thursday provided some relief. Chinas November exports rose by 0.1 percent from a year earlier, while imports expanded 6.7 percent on strong demand for commodities from coal to iron ore.

Resource shares advanced, despite the generally cautious mood. Steelmaker Baoshan Iron & Steel Co and Wuhan Iron and Steel jumped on the heels of regulatory approval for their merger plan.

Hong Kong Stocks extends gain for the third session

The Hong Kong stock market finished higher for third straight session, on the back of positive lead from US markets overnight. Still, the upside was limited by a softer close for mainland shares after Chinas foreign exchange reserves fell far more than expected in November to the lowest level in nearly six years. The reserves data also seemed to have offset any enthusiasm from solid trade numbers for the worlds second-biggest economy. Most sectors rose, with industrial and resource shares leading the gains. The Hang Seng Index ended up 0.27%, or 60.92 points, to 22,861.84, while the Hang Seng China Enterprises index inclined 0.68%, or 67.24 points, to 9,896.82. Turnover increased to HK$73.5 billion from HK$62.5 billion on Wednesday.

HSBC (00005) edged down 0.2% to HK$65.35. The global bank has started buying back its own shares since early August, but it did not issue repurchase notice today.

AIA (01299) slipped 2% to HK$44.25 becoming the largest blue-chip loser. Nomura said in a research report that potential downside from UnionPay restriction is yet to play out fully. AIA today registered a HK$574 million block deal.

Nomura also noted that HKExs (00388) valuation is ahead of fundamentals. But it rebounded 0.7% to HK$195 after four-day decline. MTR Corp (00066) edged up 0.3% to HK$38.6.

China Customs said exports and imports in November rebounded to 0.1% and 6.7% year-on-year in USD terms. COSCO Shipping Ports (01199) and Tianjin Port Development (03382) rose 2.9% and 1.7% to HK$7.92 and HK$1.22.

Sensex, Nifty settle at near 4-week high

Gains in metal, auto sector stocks and index heavyweights ITC, Reliance Industries, Infosys, HDFC and HDFC Bank lifted key benchmark indices. The barometer index, the S&P BSE Sensex, surged 457.41 points or 1.74% to settle at 26,694.28. The Nifty 50 index jumped 144.80 points or 1.79% to settle at 8,246.85. Strong global cues boosted investors sentiment.

Bank stocks edged higher. Tata Motors rose after the company said that Jaguar Land Rover (JLR), the UKs leading manufacturer of premium luxury vehicles, reported its best ever November retail sales. Escorts advanced after the company announced the completion of the divestment of its auto products business to Badve Engineering, Pune. Tata Steel rose as Tata Steel UK reached an agreement with trade unions on a number of proposals that would structurally reduce risks and help secure a more sustainable future for its UK business.

Elsewhere in the Asia Pacific region: New Zealands NZX50 shed 0.08% to 6910.19. Indonesias Jakarta Composite index added 0.7% to 5303.73. Taiwans Taiex grew 1.2% to 9375.86. South Koreas KOSPI index was up 2% to 2031. Malaysias KLCI grew 0.7% to 1643.75. Singapores Straits Times index fell 0.03% to 2958.86.

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China Stocks edge lower on weak trade data
Dec 08,2016

Mainland China stock market ended slight lower on Thursday, 08 December 2016, as investors grappled with mixed data showing better-than-expected November trade numbers but a sharp fall in foreign-exchange reserves. Sectors were mixed, with banks and raw materials gained, while properties and infrastructures dropped. The Shanghai Composite Index dropped 0.21%, to 3,215.37, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, declined 0.52% to 2,077.37. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 1% to close at 2,114.71 points.

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Hong Kong Stocks extends gain for the third session
Dec 08,2016

The Hong Kong stock market finished higher for third straight session on Thursday, 08 December 2016, on the back of positive lead from US markets overnight. Still, the upside was limited by a softer close for mainland shares after Chinas foreign exchange reserves fell far more than expected in November to the lowest level in nearly six years. The reserves data also seemed to have offset any enthusiasm from solid trade numbers for the worlds second-biggest economy. Most sectors rose, with industrial and resource shares leading the gains. The Hang Seng Index ended up 0.27%, or 60.92 points, to 22,861.84, while the Hang Seng China Enterprises index inclined 0.68%, or 67.24 points, to 9,896.82. Turnover increased to HK$73.5 billion from HK$62.5 billion on Wednesday.

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Nikkei extends gains on strong global cues
Dec 08,2016

The Japan share market inclined to its best close this year on Thursday, 08 December 2016, after Wall Street powered to fresh record highs overnight. But gains were limited after weak revised figures that showed Japans economy grew less than expected in the third quarter and as investors eye a key European Central Bank meeting. Total 31 out of 33 TSE industry category on the main section gained ground, with Electric Power & Gas, Securities & Commodities Futures, Insurance, Iron & Steel, Information & Communication, and Air Transportation issues being major gainers. The 225-issue Nikkei average inclined 268.78 points, or 1.45%, to close at 18,765.47. The Topix index of all first-section issues finished up 22.07 points, or 1.48%, at 1,512.69.

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Australia Market spurs to 4-month high
Dec 08,2016

Australian share market advanced to its highest point in nearly four months on Thursday, 08 December 2016, on the back of significant gains in resources and financial stocks. With the exception of energy issue, every ASX sector was up, with technology, financial and mining issues leading rally. At the closing bell, the benchmark S&P/ASX 200 index advanced 65.50 points, or 1.2%, to 5543.60, while the broader All Ordinaries index inclined 63.60 points, or 1.15%, to close at 5599.

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US stocks end in the green
Dec 07,2016

U.S. stocks rose on Tuesday, 06 December 2016 with the Dow Jones Industrial Average finishing at an all-time high for a second day in a row, as the theme of rotational buying into new leaders such as financials and dividend-rich telecommunication shares continued. The markets momentum, however, was subdued as investors appeared to trade cautiously after the blue-chips gauge notched an all-time high in the previous session.

The Dow industrials DJIA, +0.18% rose 35.54 points, or 0.2%, to end at 19,251.78. The S&P 500 index gained 7.52 points, or 0.3%, to finish at 2,212.23, only about a point away from its record closing level. The Nasdaq Composite Index added 24.11 points, or 0.5%, to close at 5,333.

Once again, the trading day was very quiet, but once again, that did not stop the market from inching higher. Investor sentiment remained upbeat despite the weekend failure of a constitutional reform referendum in Italy. The countrys MIB index surged 4.2% while demand for Italian debt sent Italys 10-yr yield lower by four basis points to 1.95%.

Equities spent the first two hours of action near their flat lines, but climbed into the afternoon amid gains in most sectors. A few cyclical sectors opened in the red, but only energy remained in negative territory when the closing bell rang.

The ICE U.S. dollar index was trading higher by 0.4% after strong gains in November and early December. Strength in the buck often makes commodities, including gold, less attractive for holders of other currencies.

Economic data at Wall Street on Tuesday included Productivity, Unit Labor Costs, Trade Balance, and Factory Orders. Third-quarter productivity was left unrevised at 3.1% (consensus 3.3%) while Unit Labor Costs were revised up to 0.7% from 0.3% (consensus 0.2%). Higher unit labor costs may not be the best thing for corporate profit margins, yet there is an encouraging element for consumer spending growth since the revision for unit labor costs was driven solely by an increase in hourly compensation growth.

Separately, the trade deficit widened to $42.6 billion in October (consensus -$41.8 bln) from an upwardly revised $36.2 billion deficit (from -$36.4 bln) in September.

Bullion prices ended lower at Comex on Tuesday, 06 December 2016. Gold prices settled lower for a second session as the dollar strengthened against its leading rivals and U.S. stocks traded mostly highern++drawing investors attention away from the precious metal. Gold investors also remained on the defensive as they faced the strong likelihood of a Federal Reserve interest-rate hike next week and the possibility that monetary policy will tighten at an accelerated pace in 2017, boosting the dollar and cutting demand for the yellow metal.

Gold futures for February delivery fell $6.40, or 0.5%, to settle at $1,170.10 an ounce. The contract fell below $1,160 an ounce briefly on Monday, flirting with levels not seen since February. March silver failed to extend the gains seen over the past three trading sessions, with the contract settling at $16.81 an ounce, down 8.9 cents, or 0.5%.

Crude oil futures finished lower on Tuesday, 06 December 2016 for the first time in five sessions, as some traders anticipated further increases in crude production last month from the Organization of the Petroleum Exporting Countries, despite an agreement to cut back output starting in January.

On the New York Mercantile Exchange, January West Texas Intermediate futures fell by 86 cents, or 1.7%, to settle at $50.93 a barrel. February Brent crude, the global oil benchmark, lost $1.01, or 1.8%, to $53.93 a barrel on Londons ICE Futures exchange. Both Brent and WTI posted gains in each of the last four sessions and on Monday, hit their highest levels since July 2015.

The Energy Information Administration will release its weekly data on U.S. petroleum supplies on Wednesday morningn++after the American Petroleum Institutes figures, which come out late Tuesday. Market expects a decline of 1.7 million barrels for crude inventories. They also predict a rise of 900,000 barrels in gasoline stockpiles and an increase of 100,000 barrels for distillates, which include heating oil.

Treasuries spent the day inside narrow ranges with modest demand for the 10-yr note sending its yield lower by a basis point to 2.39%.

Todays participation was a bit light as fewer than 860 million shares changed hands at the NYSE floor.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while October JOLTS will be announced at 10:00 ET. October Consumer Credit (consensus $18.70 billion) will be reported at 15:00 ET.

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Asia Pacific Market: Strong overseas leads spur stocks
Dec 06,2016

Asia Pacific share market bounced on Tuesday, 06 December 2016, recovering nearly all of the previous days losses following a positive lead from European and US markets. MSCIs broadest index of Asia-Pacific shares outside Japan bounced 0.7%, its biggest daily rise since Nov. 22, breaking two days of falls.

US stock markets were modestly higher by the end of Monday trading, shrugged off concerns about Italys lost referendum on constitutional reform. At the close, Dow closed at 19,216.24 (up 45.82 or 0.2%); S&P 500 ended at 2,204.71 (up 12.76 or 0.6%); and NASDAQ closed at 5,308.89 (up 53.24 or 1%). The US economic stats out on the day were unambiguously positive, providing further reasons - as if they were needed - for the FOMC to get serious about normalising US monetary policy settings. Overnight in the U.S., the ISM nonmanufacturing index rose to 57.2 in November from 54.8 in the previous month. The November ISM services index data bettered economists consensus forecasts, providing yet another sign that corporate America was not overly fussed about as pending Trump administration. The Fed-prepared labor market conditions index was materially stronger than the economists consensus forecast - and this after the preceding months data also enjoyed a nice upward revision.

Italian Prime Minister Matteo Renzi resigned Monday after a decisive referendum defeat, raising some uncertainty over the stability of European policy-making. Market reaction appeared relatively mild, however, compared with the fallout from the Brexit vote and the U.S. presidential election.

The markets near-term focus is on the Federal Reserves rate decision later this month. While a December rate increase has been factored in, investors are eager for any clues about the number of times the Fed will raise rates next year.

Among Asian bourses

Australia stocks gain 0.5%

Australian share market advanced today, snapping two straight sessions of losses, as investors appetite for risk assets underpinned on tracking gains on the offshore market overnight. With the exception of consumer staples and technology issues, every sector was up, with realty, industrials, and materials issues being notable gainers. At the closing bell, the benchmark S&P/ASX 200 index advanced 28.30 points, or 0.52%, to 5428.70, while the broader All Ordinaries index inclined 28.60 points, or 0.52%, to close at 5486.60.

Shares of materials and resources were performers among ASX sectors, thanks to base metal positive close in overnight trade. Base metals were in demand in Monday LME trading, with copper closing at an 18-month high. Rio Tinto added 0.9% to A$59.14 and Fortescue added 0.8% to A$6.31. BHP ended up 1.2% to A$25.48, after winning a bid to partner with Mexican state oil company Pemex in a joint venture to develop a potentially lucrative deep water field in the countrys untapped Gulf waters.

Origin Energy shares gained 2.5% to A$6.58 after the gas and power retailer announced a plan to spin off its interests in conventional oil and gas fields in an initial public offering expected to be worth at least A$1 billion.

The Reserve Bank of Australia held interest rates at a record low of 1.5% on Tuesday despite a recent run of soft economic data but weak inflation figures kept the door open for future cuts. Inflation continued to disappoint, with core prices rising just 1.3% in the September quarter, well off the RBAs target range of 2-3%. The central bank acknowledged the housing market had strengthened, with prices in some regions rising briskly. A booming property sector previously saw the Reserve Bank reluctant to ease rates further owing to concern it could lead to overheating. The RBAs board next meets in early February, two weeks after the release of fourth-quarter inflation figures.

Nikkei bounces on yen depreciation, upbeat offshore lead

The Japan share market closed session in positive territory on Tuesday, 06 December 2016, bouncing back from Mondays losses as investors follow the lead in European and US markets overnight. Meanwhile, yen depreciation to lower 114-level against greenback also added strength to benchmark indices. Total 25 out of 33 TSE industry category on the main section gained ground, with Marine Transportation, Iron & Steel, Nonferrous Metals, Securities & Commodities Futures, Electric Power & Gas, and Insurance issues being major gainers. The 225-issue Nikkei average inclined 85.55 points, or 0.47%, to close at 18,360.54. The Topix index of all first-section issues finished up 10.24 points, or 0.7%, at 1,477.20.

Shares of financial, electronics and steel makers were stronger. Nomura Holdings Inc. rose 3% to 695.9 yen. Electronics firm Sharp Corp. gained 8.3% to Y208. Steel maker JFE Holdings Inc. advanced 3.9% to Y1,803.5.

Preliminary average wages data in the Monthly Labor Survey from the Ministry of Health, Labour and Welfare released on Tuesday, showing the total monthly average cash earnings per regular employee rose just 0.1% on year in October to Y266,802 for the first rise in three months after being unchanged in the previous two months.

China Stocks edge lower

Mainland China stock market declined for second straight session on Tuesday, 06 December 2016, as investors contemplated the possible repercussions on trade from scathing comments by a top securities regulator about barbaric share acquisitions. Most sectors lost ground, while gains were only seen in defensive consumer and healthcare sectors, perceived as prominent beneficiaries of the newly launched Shenzhen-Hong Kong stock connect. The Shanghai Composite Index dropped 0.16%, to 3,199.65, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.16% to 2,071.44. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 1% to close at 2,122.26 points.

The chairman of Chinas securities regulator condemned n++barbaricn++ leveraged company buyouts by some asset managers using illegal funds, according to a statement posted on the China Securities Regulatory Commission (CSRC) on Saturday. n++

Chinas industry-leading blue-chips witnessed a broad slump on Monday, posting its heaviest fall in six months, after top securities regulator condemned barbaric share acquisitions by some unidentified asset managers.

Piling up the pressure, the countrys insurance regulator said it has taken regulatory measures against Foresea Life, a unit of Chinese financial conglomerate Baoneng Group, and Evergrande Insurance, a unit of China Evergrande, including suspending some of their insurance businesses.

Financial shares in China weakened after the countrys insurance regulator suspended an unlisted insurer from selling some products. This followed the countrys top market regulators scathing comments over the weekend condemning barbaric share acquisitions by some unidentified asset managers.

Gree Electric Appliances rebounded following the previous days 10% slump, after data showed overseas investors spent 372 million yuan buying the stock on Monday via the Shenzhen-Hong Kong Stock Connect as they hunted for bargains.

Hong Kong Stocks end higher

The Hong Kong stock market finished session higher, recovering nearly triple of the previous days losses following a positive lead from European and US markets. The Hang Seng Index ended up 0.75%, or 169.60 points, to 22,675.15, while the Hang Seng China Enterprises index inclined 0.59%, or 57.05 points, to 9,768.85. Turnover decreased to HK$60.7 billion from HK$68.8 billion on Monday.

HSBC (00005) soared 3% to HK$63.4 after Morgan Stanley upgraded the stock to overweight with a higher target price of HK$64 (previously HK$53). It contributed a 79-point gain to the HSI.

Citi Research revised up Macaus GGR to MOP19 billion, representing a growth of 4%. SJM Holdings (00880) soared 7% to HK$6.59 after Goldman Sachs upgrade to buy and a higher target price of HK$8, citing Macaus VIP gross gaming revenue is improving as big players are returning. Galaxy Entertainment (00027) and Wynn Macau (01928) rose 4% and 3% to HK$38 and HK$14.02.

China Life (02628) shot up 3% to HK$22.3 after Nomura reiterated its buy call. China Taiping (00966) gained 2% to HK$17.36.

Sensex hovers in positive terrain

Indian share market continued to hover in a narrow range in mid-afternoon trade. At 14:16 IST, the barometer index, the S&P BSE Sensex, was up 114.10 points or 0.43% at 26,463.20. The Nifty 50 index was up 39.10 points or 0.48% at 8,167.85.

FMCG major Dabur India declined 1.48% after the company foresees some near term pressure on the business on account of scarcity of cash with customers and trade due to demonetization.

On macro front, a two-day meet of the monetary policy committee (MPC) of the Reserve Bank of India (RBI) is scheduled today, 6 December 2016 and tomorrow, 7 December 2016. It will be interesting to watch RBIs monetary policy stance this time in a scenario of governments recent historic move of demonetization of higher denomination notes and amid easing consumer inflation. RBI had cut policy rates by 25 basis points in its last meet in October.

Meanwhile, Chief minister of Tamil Nadu, J Jayalalithaa, died yesterday, 5 December 2016, after undergoing treatment at Apollo Hospitals in Chennai. She was 68.

Elsewhere in the Asia Pacific region: New Zealands NZX50 rose 0.8% to 6910.36. Indonesias Jakarta Composite index added 0.1% to 5272.96. Taiwans Taiex grew 1% to 9250.77. South Koreas KOSPI index was up 1.4% to 1989.86. Malaysias KLCI grew 0.3% to 1629.73. Singapores Straits Times index added 0.2% to 2949.12.

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Hong Kong Stocks end higher
Dec 06,2016

The Hong Kong stock market finished session higher on Tuesday, 06 December 2016, recovering nearly triple of the previous days losses following a positive lead from European and US markets. The Hang Seng Index ended up 0.75%, or 169.60 points, to 22,675.15, while the Hang Seng China Enterprises index inclined 0.59%, or 57.05 points, to 9,768.85. Turnover decreased to HK$60.7 billion from HK$68.8 billion on Monday.

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China Stocks edge lower
Dec 06,2016

Mainland China stock market declined for second straight session on Tuesday, 06 December 2016, as investors contemplated the possible repercussions on trade from scathing comments by a top securities regulator about barbaric share acquisitions. Most sectors lost ground, while gains were only seen in defensive consumer and healthcare sectors, perceived as prominent beneficiaries of the newly launched Shenzhen-Hong Kong stock connect. The Shanghai Composite Index dropped 0.16%, to 3,199.65, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.16% to 2,071.44. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 1% to close at 2,122.26 points.

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Nikkei bounces on yen depreciation, upbeat offshore lead
Dec 06,2016

The Japan share market closed session in positive territory on Tuesday, 06 December 2016, bouncing back from Mondays losses as investors follow the lead in European and US markets overnight. Meanwhile, yen depreciation to lower 114-level against greenback also added strength to benchmark indices. Total 25 out of 33 TSE industry category on the main section gained ground, with Marine Transportation, Iron & Steel, Nonferrous Metals, Securities & Commodities Futures, Electric Power & Gas, and Insurance issues being major gainers. The 225-issue Nikkei average inclined 85.55 points, or 0.47%, to close at 18,360.54. The Topix index of all first-section issues finished up 10.24 points, or 0.7%, at 1,477.20.

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Strong overseas leads spur Australia stocks
Dec 06,2016

Australian share market advanced on Tuesday, 06 December 2016, snapping two straight sessions of losses, as investors appetite for risk assets underpinned on tracking gains on the offshore market overnight. With the exception of consumer staples and technology issues, every sector was up, with realty, industrials, and materials issues being notable gainers. At the closing bell, the benchmark S&P/ASX 200 index advanced 28.30 points, or 0.52%, to 5428.70, while the broader All Ordinaries index inclined 28.60 points, or 0.52%, to close at 5486.60.

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