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US stocks close mostly lower
Jun 23,2017

U.S. stocks reversed direction to close mostly lower on Thursday, 22 June 2017 as weak financials and consumer staples shares eclipsed a rally in the health-care and biotechnology sectors. The stock market held a modest gain throughout the majority of Thursdays session, but increased selling pressure in the final hour of action dragged the major averages from their best marks of the day.

The Dow Jones Industrial Average slipped 12.74 points to end at 21,397.29. The Nasdaq Composite Index bucked the trend for a second day to edge up 2.73 points to close at 6,236.69, supported by the biotechnology advance. The S&P 500 dropped 1.11 points to finish at 2,434.50, with financial stocks falling 0.6% and consumer staples shedding 0.7%.

Equities opened Thursdays session slightly lower, but ticked up into positive territory after the Senate released its version of the healthcare reform bill. Health-care stocks were among the biggest gainers, adding 1.4%, as lawmakers released a n++discussion draftn++ of the health-care bill that aims to cut Medicaid and eliminate penalties for people who dont buy insurance, among other changes.

Latest economic data at Wall Street showed that the latest weekly initial jobless claims count totaled 241,000 while the consensus expected a reading of 240,000. It was above the revised prior week count of 238,000 (from 237,000). As for continuing claims, they rose to 1.944 million from the revised count of 1.936 million (from 1.935 million). The key takeaway from this report is that it will feed expectations for another decent-sized gain in nonfarm payrolls since it encompassed the week in which the survey for the June employment report was conducted.

Separately, the Conference Boards Leading Indicators report for May increased 0.3% (consensus 0.3%) after moving higher by a revised 0.2% in April (from 0.3%). The key takeaway from the report is that strengths among the leading indicators have remained more widespread than weaknesses. Also, the FHFA Housing Price Index for April increased 0.7%, which followed a revised uptick of 0.7% (from 0.6%) in March.

Bullion prices ended higher at Comex on Thursday, 22 June 2016. Gold tallied back-to-back session on Thursday, as the precious metal tried to clamber off five-week lows struck earlier this week.

August gold added $3.60, or 0.3%, to settle at $1,249.40 an ounce after tacking on about 0.2% a day earlier. That was the highest settlement since Friday and it comes just three days after the contract finished Tuesday at its lowest since May 16. July silver gained 13.5 cents, or 0.8%, to $16.509 an ounce.

The closely watched dollar index traded little changed as gold prices closed, lessening the currency-related headwind for commodities priced in the currency, including gold. A stronger dollar tends to make assets pegged to the buck more expensive to buyers using other monetary units. U.S. equities, meanwhile, traded mostly higher after an earlier struggle for direction.

Crude oil prices finished modestly higher on Thursday, 22 june 2017 with a second weekly decline in U.S. crude supplies helping prices recoup some of their recent losses. But prices were still stuck in a bear market, defined as a decline from a recent peak of at least 20%, on lingering worries about strong domestic production growth.

August West Texas Intermediate crude advanced 21 cents, or 0.5%, to settle at $42.74 a barrel on the New York Mercantile Exchange. Brent crude for August delivery on Londons ICE Futures exchange added 40 cents, or 0.9%, to $45.22 a barrel.

Prices fell on Wednesday as data from the Energy Information Administration showed a weekly climb in U.S. crude production, feeding concerns that efforts by other major producers to cut down global supplies down to a five-year average will fail. The report, however, also showed that crude stockpiles declined for a second week in a row.

U.S. Treasuries settled modestly higher across the curve with the benchmark 10-yr yield slipping one basis point to 2.15%.

Investor participation was below average as fewer than 900 million shares changed hands at the NYSE floor.

Fridays lone economic report, May New Home Sales (consensus 599,000) will cross the wires at 10:00 ET.

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China Stocks hit 17-month high after MSCI inclusion
Jun 22,2017

The Mainland China equity market closed at 17-month high on Thursday, 22 June 2017, as sentiments remained firmed after MSCI decided to add yuan-traded equities to its global benchmark indices. However, intraday gains trimmed late afternoon due to profit booking. The Shanghai Composite Index added 0.3%, or 8.76 points, to 3,147.45. The CSI 300 Index of large companies in Shanghai and Shenzhen managed to close 0.1% up at an 18-month high, while the Shenzhen Composite slid 1.3% and the ChiNext index of small-company shares in the city sank 1.4%.

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Nikkei edges down amid lack of incentives
Jun 22,2017

The Japan share market finished session marginally lower after moving around the previous days closing levels throughout the day on Thursday, 22 June 2017, as investors sentiments lacklustre amid a dearth of fresh incentives to trade on. Mining, insurance, and oil and coal product-related issues comprised those that declined the most by the close of play, while pharmaceuticals, banks and electronics makers provided support. The 225-issue Nikkei average shed 28.28 points, or 0.14%, to end at 20,110.51. The Topix index of all first-section issues closed down 1.18 points, or 0.07%, at 1,610.38. Advancing issues outpaced declining ones by 992 to 876 on the First Section. Trading volume on the main section came to 1,550.40 million shares, declining from Wednesdays volume of 1,634.36 million shares. The turnover on the penultimate trading day of the week totaled 2,077.1 billion yen.

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Banks and miners boost Australia market
Jun 22,2017

Australian equity market ended higher for the first time in three consecutive sessions on Thursday, 22 June 2017, as banks rebounded after two straight sessions of losses and mining stocks benefited from a rise in commodity prices. However, market gains capped after South Australia state announced plans for a fresh tax on the countrys biggest lenders that will have the same structure as a new federal levy. The S&P/ASX 200 index closed 0.7 per cent or 40.28 points higher to at 5,706. Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 638 to 512 and 402 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 6.68% to 13.451.

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China Stocks fall ahead of the MSCI decision on A shares
Jun 20,2017

The Mainland China equity market closed lower on Tuesday, 20 June 2017, on caution before MSCI Inc. announcement whether it will add Chinese domestic shares to its benchmark indexes. The Shanghai Composite Index eased 0.14%, or 4.36 points, to 3,140.01. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.12%, or 2.21 points, to 1,879.06. The CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - fell 0.2% or 7.18 points to 3,546.49. The Nasdaq-style ChiNext rose 0.3% or 18.33 points to 1,820.98.

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Hong Kong Stocks end down
Jun 20,2017

The Hong Kong stock market ended in red on Tuesday, 20 June 2017, as profit-taking following gains over the previous two trading days and on caution ahead of MSCIs decision to include mainland A-shares in its emerging markets index. Sector performance was mixed, with raw material stocks rose but property shares were down. The Hang Seng Index fell 0.31%, or 81.51 points, to 25,843.04, while the China Enterprises Index lost 0.5% or 52.32 points to 10,468.48. Turnover increased slightly to HK$66.8 billion from HK$65.7 billion on Monday. The northbound quota balance of the Shanghai-HK Connect program was RMB13.093 billion, surpassing the daily allowed quota of RMB13 billion. It indicated net outflow of RMB93 million. The southbound quota balance was RMB9.643 billion, accounting for 91.8% of the daily allowed quota of RMB10.5 billion. As for the Shenzhen-HK Connect, the northbound quota balance was RMB12.506 billion, accounting for 96.2% of the daily allowed quota of RMB13 billion. The southbound quota balance was RMB10.026 billion, accounting for 95.5% of the daily allowed quota of RMB10.5 billion.

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Australia Market falls on banks, realty weakness
Jun 20,2017

Australian equity market ended lower on Tuesday, 20 June 2017, as profit taking triggered after two straight sessions of gains, with shares of banks, realty, and energy companies leading broad selling. The S&P/ASX 200 index declined 0.8%, or 47.87 points to finish the session at 5,757.30.

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Good gains for US stocks
Jun 20,2017

U.S. stocks rose on Monday, 19 June 2017 with both the Dow and the S&P 500 ending at new records as technology shares rebounded from a recent bout of sharp weakness to lead the market higher.

The Dow Jones Industrial Average rose 144.71 points, or 0.7%, to 21,528.99, ending at its highs of the day, which represented both an intraday and a closing record. With the days move, the blue-chip average is up 8.9% so far this year. The S&P 500 gained 20.31 points to 2,453.46, a gain of 0.8%. The large-cap index, up 9.6% in the year to date, hit its own intraday record of 2,453.82 on Monday finished near that high. The Nasdaq Composite Index rose 87.25 points to 6,239.01, a gain of 1.4%.

Among the most notable tech gainers on Monday, Apple rose 2.9% in its biggest one-daadvance since February, while Facebook was up 1.5%. Among other major internet names, Amazon.com added 0.8%.

The closely watched dollar index, rose by 0.3% on Monday, providing a headwind for commodities priced in the currency. A stronger dollar tends to make assets pegged to the buck more expensive to buyers using other monetary units.

Economic uncertainty could continue to hold sway over metals and currency trading, although few major economic data releases are due at the weeks start.

Last week, Fed Chairwoman Janet Yellen laid out a plan to shrink the central banks massive $4.5 trillion balance sheet, one of its economy-spurring tools, starting this year, as they also raised interest rates.

Bullion prices finished in negative territory on Monday, 19 June 2017 as the dollar strengthened and as investors favored assets perceived as risky over so-called havens. Gold has been plagued by a downbeat tone in the wake of recent signals from the Federal Reserve for at least one more increase to interest rates this year in what has been interpreted as an upbeat outlook on US economy. That view sent the yellow metal down for a second straight week last week because higher rates make gold and other commodities, which dont bear yields, less appealing.

August gold fell $9.80, or 0.8%, to $1,246.70. The metal suffered a 1.2% weekly decline last week. July silver fell 15.9 cents, or 1%, to $16.502 an ounce, marking its third straight decline.

U.S. crude-oil benchmark gave up a modest gain to settle at a seven-month low on Monday, 19 June 2017 at Nymex as worries about U.S. output growth persisted. On the New York Mercantile Exchange, light, sweet crude for delivery in July fell 54 cents, or 1.2%, to close at $44.20 a barrel, its lowest close since Nov. 14. August Brent crude on Londons ICE Futures exchange, the global benchmark, declined 46 cents, or 1%, to end at $46.91 a barrel.

Overabundance of oil has suppressed prices for nearly three years. Even though major producers in the Organization of the Petroleum Exporting Countries and Russia have sidelined a portion of their output since January, the market remains well-over saturated and oil storage around the world is in surplus.

In the bond market, U.S. Treasuries settled lower across the curve with the benchmark 10-yr yield climbing four basis points to 2.19%.

Investors did not receive any economic data on Monday. The first report of the week--first quarter Current Account Balance (consensus -$123.4 billion) will cross the wires on Tuesday at 8:30 ET.

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Mixed finish for US stocks
Jun 19,2017

US stocks ended in a mixed note on Friday, 16 June 2017. The Dow Jones Industrial Average on Friday notched its 21st record of 2017 led by a late-stage rise in energy shares and as Amazon announced plans to buy Whole Foods in one of the buzziest mergers of 2017. However, the tech-heavy Nasdaq Composite ended lower and booked a second-straight weekly loss.

The Dow Jones Industrial Average gained 24.38 points, or 0.1%, to 21,384.28, a new all-time high. For the week, the index climbed 0.5%. The S&P 500 ended less than a point higher at 2,433.14. The Nasdaq Composite dipped 13.74 points, or 0.2%, to 6,151.76 and lost 1% over the week, as technology stocks continued to come under pressure, amid concerns that that group is overvalued.

Dows climb was on the back of a jump in shares of Chevron and Exxon Mobil gaining 1.9% and 1.5% respectively.

Six of the eleven sectors settled Fridays session in negative territory with the consumer staples sector (leading the retreat following news that Amazon plans to acquire Whole Foods Market for $42 per share (27.0% premium) in an all-cash transaction valued at approximately $13.7 billion.

Big-box and grocery retailers like Wal-Mart, Costco and Kroger were among the consumer staples sectors weakest components as Amazons move will likely increase competition within the space. Shares of Amazon.com rose 2.3% after the announcement, while shares of Whole Foods Market soared 29%.

Economic data on Friday showed that housing starts fell 5.5% to an annual rate of 1.09 million in May, the lowest level in eight months. Market had forecast starts at a 1.23 million pace. And the University of Michigan consumer-sentiment index fell to 94.5 in early June reading, the weakest since November.

Gains for the dollar faded, with the ICE U.S. Dollar Index which tracks the buck against a basket of six rivals, down 0.3%

Bullion prices ended mixed on Friday, 16 June 2017 in the wake of signals from the Federal Reserve for another increase to interest rates this year. Gold prices gained modestly in the short term, in part as a closely watched dollar index slipped, making the metal more attractive to investors using another currency. Downbeat U.S. data Friday, with construction for new houses down in May and a June drop in consumer sentiment, and optimism for Chinas economy after a round of monetary stimulus from its central bank, underpinned gold on Friday as well.

August gold tacked on $1.90, or 0.2%, to settle at $1,256.50. The metal suffered a 1.2% weekly decline. That marked back-to-back weekly losses for gold after last weeks decline snapped a string of five-straight weekly gains.

July silver fell 5.5 cents, or 0.3%, to end at $16.661 an ounce, settling at its lowest in more than a month. The white metal declined 3.3% for the week.

Earlier this week, Fed Chairwoman Janet Yellen and her colleagues laid out a plan to shrink the central banks massive $4.5 trillion balance sheet, one of its economy-spurring tools, starting this year, as they also raised a key U.S. interest rate.

Oil prices rebounded on Friday, 16 June 2017 after hitting their lowest settlement of 2017, but registered their fourth weekly loss in a rown++the longest such streak of declines in nearly two years. Data earlier in the week showing a rise in U.S. production and weak domestic gasoline demand fed concerns that the global energy market remains awash in surplus oil, keeping pressure on prices.

July West Texas Intermediate crude oil rose 28 cents, or 0.6%, to settle at $44.74 a barrel on the New York Mercantile Exchange, while August Brent on Londons ICE Futures exchange added 45 cents, or 1%, to $47.37 a barrel.

However, the gains werent enough to bring the contracts into positive territory for the week, with WTI crude down 2.4% and Brent suffering a 1.6% weekly slide. That marked a fourth straight week of losses for both, and the longest weekly losing streak since August 2015 for WTI.

In the bond market, the 10-yr yield slipped one basis point to 2.15% while the 2-yr yield dropped three basis points to 1.33%.

On Monday, investors will receive the Current Account Balance (consensus -$123.4 billion) for the first quarter at 8:30 ET.

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Asia Pacific Market: Stocks end with slight gain
Jun 16,2017

Asia Pacific share market closed slight higher on last trading session of the week, Friday, 16 June2017, as investors chased for bargain buying following previous session losses on capital flows out woes. MSCIs broadest index of Asia-Pacific shares outside Japan closed flat.

The Federal Reserve raised short-term interests on Wednesday, and outlined plans to shrink the U.S. central banks balance sheet, raising concerns about tighter liquidity globally and capital flows out of Asia.

The Bank of Japan, which is seeking to avoid speculation about an early exit from stimulus, held its main policy rate steady at minus 0.1% and stuck to its pledge to keep the yield on 10-year Japanese government bonds around zero.

In commodities, oil was lower on continued worries over rising US gasoline inventories adding to already elevated global supply. US crude fell 0.1% to USD 44.39 a barrel, remaining near Thursdays six-week low, on track for a 3.1% drop for the week. Global benchmark Brent also slipped 0.1% to USD 46.86, set to end the week 2.7% lower.

Gold crept higher following Thursdays 0.6% drop on the dollars strength. It was marginally higher at USD 1,254.25 an ounce early on Friday, but still poised to close the week with a 0.9% loss.

Among Asian bourses

Australia Market gains on banks strength

Australian equity market ended modest higher, buoyed in large part by a rebound by the banks that more than offset the drag of mining stocks. The S&P/ASX 200 finished up 10.8 points, or 0.2%, at 5774.0. The benchmark S&P/ASX 200 grew 1.7% over a holiday-shortened week, taking back the bulk of last weeks slump. For the session, 2.83 billion shares were traded with a value of A$8.09 billion

Shares of Financials were the top gainers, with National Australia Bank leading the major banks higher for the day, rising 0.5%. Westpac Banking edged up 0.1%, Commonwealth Bank of Australia added 0.2% and Australia & New Zealand Banking rose 0.4%. Investment bank and asset manager Macquarie picked up 0.6%.

Energy stocks were mixed on Friday, with Woodside Petroleum losing 0.2% and Santos falling 0.3% but Oil Search gaining 0.7%.

Shares of materials and resources, however, remained pressured by continuing weakness in commodity prices, compounded by a poor outlook. Rio Tinto slipped 0.3% and Fortescue Metals Group lost 0.2%. BHP Billiton pulled back from its early weakness to finish down 0.1% after it said it had appointed director Ken MacKenzie, former boss of packaging company Amcor, to succeed Jac Nasser as chairman.

Nikkei gains as soft yen boosts exporters

The Japan share market finished session in positive territory, as investors appetite for risk assets supported by the yens depreciation above 111-level against greenback on the back of brisk U.S. economic indicators released on Thursday. Investors also took heart from the Bank of Japan monetary policy statement. No change was made in the BOJs monetary policy as expected, following a two-day meeting. Securities, precision instrument and machinery-linked issues comprised those that gained the most by the close of play. The benchmark Nikkei 225 average gained 111.44 points, or 0.56%, to close at 19,943.26, while the broader Topix index of all first-section issues finished up 7.95 points, or 0.50%, at 1,596.04. Rising issues outnumbered falling ones 1,237 to 652 in the TSEs first section, while 129 issues were unchanged.Volume grew to 2.285 billion shares from Thursdays 1.881 billion shares. Export-oriented names attracted buying thanks to the weaker yen. They included automakers Nissan and Honda, camera maker Canon, electronics maker Panasonic, technology firm Kyocera and electronics parts producer Murata Manufacturing.

An overnight rise in U.S. long-term interest rates helped push up financial issues, such as megabank groups Mitsubishi UFJ, Sumitomo Mitsui and Mizuho, insurers Dai-ichi Life and Sompo Holdings and brokerage firms Nomura and Daiwa.

By contrast, game maker Nintendo, semiconductor-related Tokyo Electron, industrial robot maker Fanuc and restaurant chain operator Skylark met with selling. Also on the minus side were power firms, such as Shikoku Electric and Tohoku Electric, retail giant Seven & i Holdings and daily goods manufacturer Kao.

China Stocks fall on slowdown woes

The Mainland China equity market closed lower, as investors sentiment was soured by renewed concerns about slowdown in the worlds second-biggest economy after weak producer inflation and investment data. The Shanghai Composite Index fell 0.3%, or 9.32 points, to 3,123.17 while the CSI 300 n++ which tracks the large caps listed in Shanghai and Shenzhen n++ dropped 0.3%, or 10.03 points, to 3,518.76. The Shenzhen Composite Index lost 0.2%, or 3.66 points, to 1,866.05 while the Nasdaq style ChiNext shed 0.3%, or 6.21 points, to 1810.05. For the week, CSI300 dropped 1.6%, while Shanghai Composite Index contracted 1.1%.

Data this week showed that Chinas economy generally remained on solid footing in May, but tighter monetary policy, a cooling housing market and slowing investment reinforced views that it will gradually lose momentum in coming months.

Despite several fund injections into the banking system from the central bank over the past five days, n++liquidity remained tightening amid capital outflows. Last week a total of 40.9 billion yuan (US$6 billion) left the stock market, reported the China Securities Investor Protection Fund Corporation.

In a sign that Chinas central bank intends to stabilise market sentiment, the Peoples Bank of China (PBOC) injected a net 410 billion yuan ($60.17 billion) into money markets this week, the biggest weekly injection since mid-January.

The odds that MSCI will announce on June 21 its intention to include Chinese A shares in its global equity indices - a watershed moment for the mainlands capital markets - have increased after the index provider said this year it will cut the number of stocks eligible to 169 from the original proposal of 448. However fund managers are skeptical as to whether a favourable decision would actually lead to any material change in underlying market trends, given the small increase in Chinese weighting in the indices.Chinas securities regulator said on Friday that it hopes U.S. index provider MSCI will decide next week to include the countrys so-called A shares in its Emerging Market Index - but if not, Chinese capital market reform will not be derailed. We would always be happy to see that A shares are included in the MSCI index, and we could welcome such a decision, Zhang Xiaojun, China Securities Regulatory Commission (CSRC) spokesman told a news conference, according to CSRCs official website.

MSCI has rejected Chinas inclusion three times. It is due to announce on 21 June 2017 - whether to open up its Emerging Markets Index to China shares. Investors and analysts have said a yes decision is likely this time, after MSCI proposed in March to change the methodology for a China inclusion.

Hong Kong Stocks end with gains

The Hong Kong stock market ended higher, as investors chased for bargain hunting after the previous days sharp losses triggered by U.S. monetary tightening. Sector performance was mixed, with financials rising, but property developers, which is vulnerable to higher borrowing costs, continuing to fall. The Hang Seng Index rose by 0.2%, or 61.15 points, to 25,626.49 by the close, although it remains 1.6%, or 403.80 points, lower on the week. The Hang Seng China Enterprises index was 0.4%, or 38.74 points, higher at 10,384.89. Daily market turnover was HK$80.69 billion, up from Thursdays HK$74.99 billion.

The Federal Reserve raised short-term interests on Wednesday, and outlined plans to shrink the U.S. central banks balance sheet, raising concerns about tighter liquidity globally and capital flows out of Asia. Sentiment has also been dented by Chinas weak producer inflation and investment data, which reinforced concerns of a renewed slowdown in the worlds second-biggest economy.

Blue Chips were mixed. China Mobile (00941) rose 0.66% to HK$84.15, while HSBC (00005) gained 0.81% to HK$68.35. Tencent, the most heavily traded stock, fell modestly by 0.1% to close at HK$272.6. Ping An Insurance closed flat at HK$50.15, while AIA gained 0.6% to HK$55.80. Hutchison Telecom surged 3.5% to HK$2.68 and China Unicom was up 0.9% at HK$11.3.

Hong Kong property stocks remained under pressure. Sino Land was down 0.2% to HK$13.24, Sun Hung Kai slid 0.6% to HK$5.02, and Hang Lung group saw a 2.9% drop to HK$31.6. Cheung Kong Property, however, managed a 0.4% rise to HK$61.1 after buyback calls.

Hengan International (01044) put on 1.28% to HK$55.25 while Geely Auto (00175) dipped 2.35% to HK$14.14, making themselves the top blue-chip gainer and loser respectively.

Cowell (01415) surged 19.07% to HK$2.81 after it expects to record a significant improvement in the groups interim profit.

Indian Market ends on a flat note

A divergent trend was witnessed on last trading day of the week as the barometer index, the S&P BSE Sensex, settled with small losses while the Nifty 50 index registered small gains. The barometer index, the S&P BSE Sensex, fell 19.33 points or 0.06% to settle at 31,056.40. The Nifty 50 index rose 10 points or 0.1% to settle at 9,588.05. Selling in index heavyweight Infosys and pharma stocks was mostly offset by gains in index heavyweight ITC and HDFC Bank.

Index heavyweight Reliance Industries (RIL) rose 0.24%. RIL and BP yesterday, 15 June 2017 announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout Indias energy sector. The announcement was made after market hours yesterday, 15 June 2017. RIL and BP announced that they will award contracts to progress development of the R-Series deep water gas fields in Block KGD6 off the east coast of India. The project is expected to produce up to 12 million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020. This is the first of three planned projects in Block KGD6 that are expected to be developed in an integrated manner, producing from about 3 trillion cubic feet of discovered gas resources. Development of the three projects, with total investment of Rs 40000 crore ($6 billion), is expected to bring a total 30-35 million cubic metres (1 billion cubic feet) of gas a day new domestic gas production onstream, phased over 2020-2022.

ICICI Bank fell 0.13% after the company said that the committee of executive directors of the bank is scheduled to meet on 20 June 2017 to consider fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 15 June 2017.

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Hong Kong Stocks end with gains
Jun 16,2017

The Hong Kong stock market ended higher on Friday, 16 June 2017, as investors chased for bargain hunting after the previous days sharp losses triggered by U.S. monetary tightening. Sector performance was mixed, with financials rising, but property developers, which is vulnerable to higher borrowing costs, continuing to fall. The Hang Seng Index rose by 0.2%, or 61.15 points, to 25,626.49 by the close, although it remains 1.6%, or 403.80 points, lower on the week. The Hang Seng China Enterprises index was 0.4%, or 38.74 points, higher at 10,384.89. Daily market turnover was HK$80.69 billion, up from Thursdays HK$74.99 billion.

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China Stocks fall on slowdown woes
Jun 16,2017

The Mainland China equity market closed lower on Friday, 16 June 2017, as investors sentiment was soured by renewed concerns about slowdown in the worlds second-biggest economy after weak producer inflation and investment data. The Shanghai Composite Index fell 0.3%, or 9.32 points, to 3,123.17 while the CSI 300 n++ which tracks the large caps listed in Shanghai and Shenzhen n++ dropped 0.3%, or 10.03 points, to 3,518.76. The Shenzhen Composite Index lost 0.2%, or 3.66 points, to 1,866.05 while the Nasdaq style ChiNext shed 0.3%, or 6.21 points, to 1810.05. For the week, CSI300 dropped 1.6%, while Shanghai Composite Index contracted 1.1%.

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Nikkei gains as soft yen boosts exporters
Jun 16,2017

The Japan share market finished session in positive territory on Friday, 16 June 2017, as investors appetite for risk assets supported by the yens depreciation above 111-level against greenback on the back of brisk U.S. economic indicators released on Thursday. Investors also took heart from the Bank of Japan monetary policy statement. No change was made in the BOJs monetary policy as expected, following a two-day meeting. Securities, precision instrument and machinery-linked issues comprised those that gained the most by the close of play. The benchmark Nikkei 225 average gained 111.44 points, or 0.56%, to close at 19,943.26, while the broader Topix index of all first-section issues finished up 7.95 points, or 0.50%, at 1,596.04. Rising issues outnumbered falling ones 1,237 to 652 in the TSEs first section, while 129 issues were unchanged.Volume grew to 2.285 billion shares from Thursdays 1.881 billion shares. Export-oriented names attracted buying thanks to the weaker yen. They included automakers Nissan and Honda, camera maker Canon, electronics maker Panasonic, technology firm Kyocera and electronics parts producer Murata Manufacturing.

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Australia Market gains on banks strength
Jun 16,2017

Australian equity market ended modest higher on Friday, 16 June 2017, buoyed in large part by a rebound by the banks that more than offset the drag of mining stocks. The S&P/ASX 200 finished up 10.8 points, or 0.2%, at 5774.0. The benchmark S&P/ASX 200 grew 1.7% over a holiday-shortened week, taking back the bulk of last weeks slump. For the session, 2.83 billion shares were traded with a value of A$8.09 billion

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Asia Pacific Market: stocks mixed ahead of Fed meeting outcome
Jun 14,2017

Asia Pacific share market closed mixed on Wednesday, 14 June 2017, as global investors awaiting clarity on the future path of US monetary policy from a two-day Federal Reserve meeting where it is widely expected to raise rates.

All eyes were on the U.S. central bank, which is scheduled to release its rate decision at 1800 GMT on Wednesday with a news conference to follow from Chair Janet Yellen. While an interest rate rise is widely expected by the Federal Reserve, its statement, and that of its boss Janet Yellen, will be closely inspected for clues about future monetary policy.

The market reaction seemed largely muted to weak investment data in China, which reinforced views that the countrys economy will start to lose some momentum in coming months. Most analysts expect the slowdown to be gradual as authorities continue to provide ample support. Chinas industrial output and retail sales grew faster than expected in May while fixed-asset investment slowed, but the data showed the economic growth was largely steady. Chinas value-added industrial output, an important economic indicator, added 6.5% year on year in May, flat with Aprils, the National Bureau of Statistics said on Wednesday. Retail sales rose 10.7% in May, flat with Aprils a, the data showed. Fixed-asset investment rose 8.6% year on year in the first five months, slower than the 8.9% gain in the first four months.

Among Asian bourses

Australia Stocks end higher

Australian equity market ended higher for fourth straight session on tracking record highs on Wall Street overnight, with shares of the Healthcare, IT and Industrials sectors being major gainers. The S&P/ASX 200 index rose 1.1%, or 61.13 points, to 5,833.90.

Shares of Financials were the top gainers, tracking their U.S. peers, with Commonwealth Bank of Australia, the biggest by market value, rising 1.4%. Westpac was up 1.4%, while ANZ and National Australia Bank were each about 0.5% higher.

Gold stocks guided the metals and miners index higher, while mining giants BHP and Rio Tinto held steady on persistent weakness in iron ore and base metal prices. Chinas iron ore futures slid to their weakest level in almost seven months on underlying concerns over surplus glut.

Nikkei down ahead of outcome of Fed policy meeting

The Japan share market finished session slightly in negative territory, as investors were overwhelmingly awaiting conclusion of the US Federal Reserve and its June monetary policy meeting later on the day. Meanwhile, the markets downside was limited thanks to buying of incentive-backed issues. Shares of oil and coal product, nonferrous metal and insurance-related stocks comprised those that declined the most by the close of play. The benchmark Nikkei 225 edged down 0.08%, or 15.23 points, to close at 19,883.52, while the broader Topix index of all first-section issues slipped 0.11%, or 1.74 points, to 1,591.77.

Bank shares were among losers, with Sumitomo Mitsui falling 0.88% to 4,245 yen and rival Mitsubishi UFJ declining 0.64% to 729.3 yen.

Other major losers included Toyota, down 0.25% to 5,859 yen, while Toshiba dropped 3.95% to 313.3 yen on the back of reports the troubled conglomerate may again delay reporting its earnings results -- putting it risk once again of being delisted from the Tokyo bourse.

By contrast, industrial robot maker Fanuc rose 0.65% to 21,565 yen and Sony gained 0.56% to 4,060 yen, tracking rallies in US technology firms. Nissan closed up 0.55% at 1,081 yen and Honda rose 0.22% to 3,084 yen. Ono Pharmaceutical attracted purchases after announcing a plan to buy back its own shares.

China Stocks fall on Anbang news

The Mainland China equity market closed lower, as investors sentiment was soured by a media report alleging a probe of the head of financial conglomerate Anbang Insurance Group, plus weak May investment data that deepened worries of economic deceleration. The International Monetary Funds forecast of a 6.7% growth for Chinas economy this year, slightly higher than 6.6% last year, didnt ignite the market. The Shanghai Composite Index shed 0.73% to end at 3,130.67 points.

Investors dumped stocks - many big-caps - that are partly-owned by Anbang, after the acquisitive company had said late on Tuesday its chairman Wu Xiaohui was no longer able to fulfil his duties. Hours earlier, Chinese magazine Caijing reported that Wu had been taken away for investigation. Anbang-invested shares - including Financial Street Holdings , China Vanke, China Merchants Shekou , Gemdale and China State Construction Engineering - all dropped sharply.

Confidence was further dented by Chinas tepid investment data for May, reinforcing views that the worlds second-largest economy will soon start to lose some momentum. The worrying combination of tighter short-term liquidity, and pessimism toward longer-term growth is reflected in Chinas inverted yield curve, with the benchmark yield on one-year Chinese government bonds rising above 10-year yield recently.

Insurance firms led the decline, with China Life Insurance Co shrinking 3.48% to 27.49 yuan (US$4.05) and China Pacific Insurance (group) Co losing 3.38% to 31.69 yuan.

China Minsheng Banking Corp, in which Anbang holds a 11.2% stake, fell 0.37% to 8.06 yuan, while Gemdale Corp, a property group where Anbang owns 20.4%, shed 4.34% to 10.57 yuan yesterday.

Hong Kong Stocks end mixed

The Hong Kong stock market finished mixed, as market participants awaiting the outcome of a US central bank meeting later in the day. While an interest rate rise is widely expected by the Federal Reserve, its statement, and that of its boss Janet Yellen, will be closely inspected for clues about future monetary policy. The market reaction seemed largely muted to weak investment data in China, which reinforced views that the countrys economy will start to lose some momentum in coming months. Sector performance was mixed, with gains were led by information technology stocks, aided by a bounce in the U.S. tech shares, while losses were seen in property and construction stocks. The Hang Seng index rose 0.1%, to 25,875.90 points, while the China Enterprises Index lost 0.1%, to 10,514.91 points. Turnover reduced to HK$76.4 billion from HK$79.9 billion on Tuesday.

BYD (01211) continued yesterdays rally, rising 3% to HK$49.95. Dongfeng Motor (00489) was unchanged at HK$9.86 after rising 4% at one point. Great Wall Motor (02333) dipped 3.9% to HK$10.28 after CICC Research raised its target price by 36% to HK$14.3. Geely Automobile (00175) also slipped 1.6% to HK$14.96.

China Eastern Airlines (00670) announced that its May passenger traffic growth of 11%. It ended up 1.4% to HK$4.51. China Southern Airlines (01055) put on 1.8% to HK$6.4. Air China (00753) fell 0.5% to HK$7.77. Cathay Pacific Airways (00293) edged up 0.7% to HK$12.4.

Sensex gains for second straight day

Key benchmark indices garnered modest gains after gyrating in a small range during the day as firmness in most global stocks and data showing wholesale price inflation easing in May, supported gains on the bourses. The barometer index, the S&P BSE Sensex, rose 52.42 points or 0.17% to settle at 31,155.91. The Nifty 50 index rose 11.25 points or 0.12% to settle at 9,618.15. The Sensex rose for the second straight day. The Nifty snapped two-day losing streak. The trading activity remained within a small range as investors chose to stay on the sidelines and awaited clarity on the Federal Reserves future path for US policy later in the global day today, 14 June 2017.

Reliance Industries (RIL) jumped 3.3% after reports its subsidiary Reliance Jio Infocomm outran all its peers in April by adding about 4 million new users to reach a consumer base of 112.55 million. TRAI data showed that Jio was also the leader in wireless broadband services with 112.55 million customers, followed by Bharti Airtel with 52.25 million, Vodafone with 39.76 million, and Idea Cellular with 24.09 million.

Dr Reddys Laboratories gained 1.41% after the company said that it has received Establishment Inspection Report (EIR) from the United States Food and Drug Administration on 13 June 2017 as closure of audit for the companys API manufacturing plant at Miryalaguda. This unit was inspected by the USFDA in February 2017 and Dr Reddys was issued form 483 with three observations. The announcement was made after market hours yesterday, 13 June 2017.

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