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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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Hong Kong Stocks end mixed
Jun 14,2017

The Hong Kong stock market finished mixed on Wednesday, 14 June 2017, 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.

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China Stocks fall on Anbang news
Jun 14,2017

The Mainland China equity market closed lower on Wednesday, 14 June 2017, 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.

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Nikkei ends down ahead of outcome of Fed policy meeting
Jun 14,2017

The Japan share market finished session slightly in negative territory on Wednesday, 14 June 2017, 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.

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Australia Stocks end higher
Jun 14,2017

Australian equity market ended higher for fourth straight session on Wednesday, 14 June 2017, 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.

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US stocks end with moderate losses
Jun 13,2017

U.S. stock-market indices closed lower on Monday, 12 June 2017 weighed by a second straight session of firm losses in technology shares. The stock market opened the week with its second-consecutive decline as the top-weighted technology sector weighed on the broader market.

The Dow Jones Industrial Average snapped three days of gains to close down 36.30 points, or 0.2%, at 21,235.67. The tech-heavy Nasdaq Composite Index remained under pressure. Overcoming a 97-point deficit on the session, the index closed down 32.45 points, or 0.5%, at 6,175.46. The S&P 500 index finished down 2.38 points, or 0.1%, at 2,429.39, overcoming a nearly 12-point deficit earlier.

Six of the benchmarks 10 sectors closed lower led by the technology sector.

Losses in shares of Apple and McDonalds offset gains from shares of General Electric and Chevron Corp.

At the beginning of Mondays session, it appeared that Wall Street may duplicate Fridays sector rotation trade; tech stocks opened sharply lower while financials and energy stocks opened distinctly higher. However, the three sectors quickly retraced a portion of their early moves with the financial sector actually entering negative territory within two hours of the opening bell. The financial space came back a bit in the afternoon, but never returned to its early-morning high.

As the week kicks off, investors are also focused on the Federal Reserve, which on Wednesday is widely anticipated to deliver an interest-rate hike.

The Feds two-day meeting will wrap up on Wednesday, where a dollar-supportive rate increase is widely expected, but not guaranteed. Wall Street is pricing in a 95.8% chance of a lift to U.S. benchmark rates, which would follow the European Central Banks decision last Thursday to keep its rates steady.

The U.K. general election ended Friday in a hung parliament, where no single party holds a majority.

Meanwhile, the dollar, as measured by the ICE U.S. Dollar Index traded nearly flat on Monday after posting a gain for last week. A stronger dollar can provide a headwind for commodities priced in the currency, making it more expensive to buyers using other monetary units.

Shares in Apple finished down 2.5% on Monday. It is the second time in a week that the iPhone maker has been downgraded, with the more bearish view once again stemming from concerns that optimism over the iPhone 8 has been baked into the stock.

On the upside, General Electric finished up 3.6% following news that CEO Jeff Immelt is retiring after nearly 16 years at the helm of the company and will be replaced by John Flannery, currently president and CEO of GE Healthcare.

Bullion prices ended lower on Monday, 12 June 2017 at Comex. Gold prices ended lower Monday, stretching their streak of declines to a fourth session as this weeks focus now turns squarely on the Federal Reserve.

August gold fell $2.50, or 0.2%, at $1,268.90 an ounce. The settlement handed the contract its fourth-straight drop. July silver gave up 27.9 cents, or 1.6%, to $16.944 an ounce.

Oil prices settled higher on Monday, 12 June 2017 following last weeks drop of nearly 4%, as traders look ahead to the weekly update on U.S. petroleum supplies, as well as monthly reports on U.S. shale crude production and global output figures from OPEC and the International Energy Agency due out this week.

July West Texas Intermediate crude tacked on 25 cents, or 0.6%, to settle at $46.08 a barrel on the New York Mercantile Exchange. August Brent crude, the global oil benchmark, rose 14 cents, or 0.3%, to $48.29 a barrel on the ICE Futures Europe exchange.

> Investors did not receive any economic data on Monday. Tomorrows economic calendar will also be light with just one report--May PPI (consensus 0.0%) on the docket. The report will be released at 8:30 ET.

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Asia Pacific Market: Shares lose ground ahead of central bank meetings
Jun 12,2017

Asia Pacific share market closed down on Monday, 12 June 2017, hit by following a slide in U.S. market late last week. Investor sentiment was also damped on caution ahead of the central bank meetings in US, England and Japan.

On Wall Street the blue-chip Dow Jones Industrial Average finished 0.4% higher on Friday but the S&P 500 fell 0.1% and the Nasdaq Composite slid 1. 8% after tech giants such as Apple, Amazon and Google Parent Alphabet all lost at least 3%.

Central banks were also in focus, with the Federal Reserve expected to release its decision on interest rates later this week. The Bank of England and Bank of Japan policy meetings later in the week were also likely to be closely watched.

In energy news, oil prices rose slightly after finishing last week down by around 4%. Brent crude rose 0.25% to trade at $48.27 a barrel and U.S. West Texas International crude added 0.22% to trade at $45.93.

Among Asian bourses

Nikkei ends in negative territory

The Japan share market finished session in negative territory, as investors were in a risk adverse mode ahead of a two-day Federal Reserve meeting that begins on Wednesday. Investor sentiment was also damped by weaker-than-expected Japanese machinery order data for April, released by the Cabinet Office just before the opening bell. Electrical appliance, information and communication, and precision instrument-linked issues comprised those that declined the most by the close of play. The Nikkei 225 average shed 104.68 points, or 0.52%, to close at 19,908.58. The Topix, including all first-section issues, ended down 0.11 point, or 0.01%, at 1,591.55. Trading volume on the main section on Monday came to 1,785.76 million shares, down from Fridays volume of 2,263.87 million shares. The turnover on the first trading day of the week totaled 2,313.2 billion yen.

Japans core private-sector machinery orders fell a seasonally adjusted 3.1% in April from the previous month, dragged down by a sharp drop in finance and insurance, as well as construction, the government said on Monday.

Shares of exporters chiefly technology companies took a hit following similar declines on Wall Street. Market heavyweight SoftBank fell 2.6% to 9,228 yen, while chip-making devices maker Tokyo Electron dropped 3% to 16,395 yen. Apple supplier Murata Manufacturing fell 2.56% to 15,595 yen and display maker Sharp sank 3.2% to 390 yen.

Bank shares fell, with Mitsubishi UFJ Financial down 0.19% at 733.3 yen and Sumitomo Mitsui falling 0.25% to 4,256 yen.

Toshiba jumped 9.4% to 329.1 yen after news reports said US-based Western Digital was raising its bid to purchase the struggling Japanese groups prized semiconductor business.

Chinese restaurant chain Totenko soared 38% at one point after Tokyos Ueno zoo said its giant panda gave birth for the first time in five years. It closed at 224 yen, up 6.66%. Totenkos main outlet is near the zoo, with a rare baby panda expected to boost the number of visitors to the area.

China Stocks fall on economy concerns

The Mainland China equity market closed lower, hit by a sell-off in high-tech issues following a slide in U.S. peers late last week. Investor sentiment was also damped by worried that tighter credit will drag on corporate profitability and economic growth in coming months. The Shanghai Composite Index fell 0.6%, or 18.52 points, to 3,139.88 while the CSI 300 n++ which tracks the large caps listed in Shanghai and Shenzhen n++ inched down 0.1%, or 1.78 points, to 3,574.39. The Shenzhen Composite Index lost 1.1%, or 20.41 points, to 1,836.76 while the Nasdaq style ChiNext shed 1.2%, or 20.58 points, to 1,775.55.

Tech shares dropped sharply, following a sell-off on Wall Street on Friday triggered by concerns about Apples new iPhones and a cautious Goldman Sachs report about the sector.

Shares of small-cap companies dropped on concern about a glut of stock supply after the China Securities Regulatory Commission backtracked from slowing approvals of new share sales. The regulator gave the nod to eight companies to sell initial public offering shares last Friday, compared with four a week earlier and seven the week before that. Nanjing Aolian AE&EA, a maker of car electronics equipment tumbled by the 10% daily limit to 21.02 yuan and Jiangsu Leili Motor slumped 9.9% to 87.28 yuan.

Hong Kong Stocks end lower

The Hong Kong stock market finished session down, hit by a sell-off in technology giant Tencent following a slide in U.S. peers late last week. Sentiment was also hurt by worries that tighter credit in China could slow growth in the worlds second-biggest economy. The Hang Seng Index dropped 1.2%, or 322.25 points, to 25,708.04, retreating for a second day after hitting a near two-year high on Thursday. The Hang Seng China Enterprises index fell 1%, or 106.32 points, to 10,485.85. Turnover decreased to HK$87.6 billion from HK$117 billion on Friday.

Hong Kong-listed tech shares dropped sharply, following a sell-off on Friday in technology stocks on Wall Street that was triggered by concerns about Apples new iPhones and a cautious Goldman Sachs report about the sector. Technology giant Tencent lost 2.5% to HK$270.6.

Handset components maker AAC Technologies (02018) declined 3.8% to HK$95.75. Sunny Optical (02382) slipped 2% to HK$64.45 despite it reported a 87% growth of handset camera shipments in May.

Tongda Group fell 5.4% to HK$2.11, snapping a two-day gain after it bought back 10.46 million shares for HK$21.63 million last week.

Automakers were mixed. Great Wall Motor (02333) soared 21% to HK$11.02 after Credit Suisses rating and target price upgrades. Geely Automobile (00175) sank 4% to HK$14.84. Brilliance China Automotive (01114) fell 3.2% to HK$14.52. GAC Group (02238) dipped 1.6% to HK$13.7.

Property counters were lower ahead of the FOMOCs rate decision meetings on Tuesday and Wednesday. New World Development (00017) dipped 2.2% to HK$10.46. Sun Hung Kai Properties (00016) fell 1.9% to HK$119.2. Sino Land (00083) fell 1.3% to HK$13.4. Henderson Land Development (00012) slipped 0.9% to HK$45.6. Cheung Kong Property (01113) inched down 0.4% to HK$60.8.

Sensex hits more than two-week closing low

Trading for the week began on a dull note as the key benchmark indices registered modest losses on negative global cues. The barometer index, the S&P BSE Sensex, shed 166.36 points or 0.53% to settle at 31,095.70. The Nifty 50 index dropped 51.85 points or 0.54% to settle at 9,616.40. The Sensex hit more than two-week closing low. The Nifty hit almost two-week low.

Investors exercised caution ahead of release of key domestic economic data on inflation and industrial production today, 12 June 2017 and political and economic events this week in the United States and Europe.

Domestic stocks had kick-started trading for the week on a dull note in opening trade on negative global cues. Key indices extended initial fall and hit fresh intraday low in morning trade. Stocks languished in the negative terrain later during the session.

Index heavyweight Reliance Industries (RIL) dropped 1.15%. RIL announced the successful and flawless commissioning of the last crystallization train (Train 3) of the Para-xylene (PX) complex at Jamnagar. This plant is built with state-of-the-art crystallization technology from BP which is highly energy efficient. With the commissioning of this plant, RILs PX capacity has more than doubled making it worlds second largest producer of PX with about 11% of global production. Pursuant to installation and mechanical completion of the entire PX complex in the previous quarter, Reliance Industries (RIL) commissioned the second phase of PX comprising of second crystallization train (train 2), trans-alkylation and aromatic extraction units at Jamnagar in Gujarat in April 2017. Train 3, which was at an advanced stage of commissioning, has now been successfully started. The announcement was made after market hours on Friday, 9 June 2017.

Oriental Bank of Commerce (OBC) shed 4.21%. The bank said it has revised the marginal cost of funds based lending rate (MCLR) for different tenors with effect from 12 June 2017. The banks MCLR for overnight loans will be 8.1%, the rate for one month will be 8.2% and for three months it will be 8.25%. The MCLR on 6-month loans will be 8.35% and for one-year loans the rate will be 8.5%, the bank said. The announcement was made after market hours on Friday, 9 June 2017. The Finance Minister Arun Jaitley was quoted as saying that he discussed non-performing assets (NPA) resolution, finances of banks, review of financial inclusion with heads of public sector banks in a meeting today, 12 June 2017. Jaitley reportedly said that there is a challenge with regard to credit growth.

Markets in Australia, Malaysia and the Philippines were closed today for public holidays.

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China Stocks fall on economy concerns
Jun 12,2017

The Mainland China equity market closed lower on Monday, 12 June 2017, hit by a sell-off in high-tech issues following a slide in U.S. peers late last week. Investor sentiment was also damped by worried that tighter credit will drag on corporate profitability and economic growth in coming months. The Shanghai Composite Index fell 0.6%, or 18.52 points, to 3,139.88 while the CSI 300 n++ which tracks the large caps listed in Shanghai and Shenzhen n++ inched down 0.1%, or 1.78 points, to 3,574.39. The Shenzhen Composite Index lost 1.1%, or 20.41 points, to 1,836.76 while the Nasdaq style ChiNext shed 1.2%, or 20.58 points, to 1,775.55.

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Nikkei ends in negative territory
Jun 12,2017

The Japan share market finished session in negative territory on Monday, 12 June 2017, as investors were in a risk adverse mode ahead of a two-day Federal Reserve meeting that begins on Wednesday. Investor sentiment was also damped by weaker-than-expected Japanese machinery order data for April, released by the Cabinet Office just before the opening bell. Electrical appliance, information and communication, and precision instrument-linked issues comprised those that declined the most by the close of play. The Nikkei 225 average shed 104.68 points, or 0.52%, to close at 19,908.58. The Topix, including all first-section issues, ended down 0.11 point, or 0.01%, at 1,591.55. Trading volume on the main section on Monday came to 1,785.76 million shares, down from Fridays volume of 2,263.87 million shares. The turnover on the first trading day of the week totaled 2,313.2 billion yen.

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Australia Stock Market closed for holiday
Jun 12,2017

Australian equity market closed on Monday, 12 June 2017, for public holiday.

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Minor gains at Wall Street
Jun 09,2017

U.S. stocks notched meager gains on Thursday, 08 June 2017 but the Nasdaq closed at a record after former FBI Director James Comeys appearance in front of the U.S. Senate Intelligence Committee concluded without any significant revelations.

The Dow Jones Industrial Average rose 8.84 points to finish, less than 0.1%, at 21,182.53. It hit an intraday record of 21,265.69 on strong gains in Caterpillar and Goldman Sachs. The Nasdaq Composite Index gained 24.38 points, or 0.4%, to end at 6,321.76 after setting an intraday record of 6,324.06. The S&P 500 index added 0.65 point to close at 2,433.79.

Financials rallied while utilities were the biggest decliners.

Investors had a slew of headlines to digest on Thursday as former FBI Director James Comey testified in front of the Senate Intelligence Committee, the European Central Bank announced its latest policy decision, and the Brits headed to the ballot box.

The ICE U.S. Dollar Index which tracks the buck against a basket of six rivals, was up 0.2%. Strength in the dollar can make gold and other commodities pegged to the currency more expensive to buyers using other monetary units, presumably lowering their demand.

In Europe, the ECB decided to leave interest rates unchanged, as expected, however, the central bank did drop language from its policy statement that suggested rates could be cut further. In addition, ECB President Mario Draghi acknowledged that risks to the outlook are now broadly balanced, but noted that inflation remains low and has yet to show a convincing pickup.

Economic data at Wall Street showed that the latest weekly initial jobless claims count totaled 245,000 while the consensus expected a reading of 240,000. Todays tally was below the revised prior week count of 255,000 (from 248,000). As for continuing claims, they declined to 1.917 million from the revised count of 1.919 million (from 1.915 million).The key takeaway from the report is that the level of initial claims remains consistent with a tight labor market.

Bullion prices ended sharply lower on Thursday, 08 June 2017. Gold prices suffered a sharp decline on Thursday, erasing a gain for the week as the euro weakened, providing support for the dollar, in the wake of the European Central Banks monetary-policy meeting.The yellow metal failed to find support from former Federal Bureau of Investigation boss James Comeys testimony before a Senate panel amid an investigation into alleged Russian efforts to interfere in last years presidential race. Investors were also awaiting the outcome of the U.K.s snap general election.

August gold fell $13.70, or 1.1%, to settle at $1,279.50 an ouncen++the lowest finish in a week. Thursdays loss erased what would have been a gain for the week. Prices have now lost 70 cents week to date. Meanwhile, July silver fell 20.6 cents, or 1.2%, at $17.414 an ounce in Thursday trading.

Oil prices ended with a minor loss on Thursday, 08 June 2017 holding ground at their lowest level in a month, as a weekly decline in U.S. crude production helped to temper pressure from a surprise weekly rise in U.S. supplies.

U.S. government data released Wednesday revealed a weekly decline for U.S. production in the lower 48 states for the first time this year, suggesting a slowdown in domestic output. But an unexpected rise in U.S. crude stocks last week intensified concerns that the continuing production cuts by the Organization of the Petroleum Exporting Countries and Russia arent effectively reducing the glut of oil that has suppressed oil prices for over two years.

Economic data will be light once again tomorrow with April Wholesale Inventories (consensus -0.1%) being the only item on the docket. The report will cross the wires at 10:00 ET.

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Asia Pacific Market: Stocks end mixed ahead of trio of risk events
Jun 07,2017

Asia Pacific share market closed mixed after trading in tight range on Wednesday, 07 June 2017, risk sentiments turned muted after weak offshore lead and on caution ahead of Britains general election, a European Central Bank policy decision and testimony by former FBI Director James Comey.

Wall Street shares pulled away from recent record highs and fell overnight as demand for risky assets waned ahead of Thursdays events. Comey, who will testify on Thursday, was investigating whether Donald Trumps presidential campaign and Russia colluded to sway the 2016 US election when he was fired by Trump in May. Investors are worried his testimony could dampen already flagging momentum for Trumps agenda of rolling back regulations and overhauling the tax code.

A wait-and-see mood also prevailed ahead of the European Central Banks policy meeting on Thursday, another of this weeks major events that the markets are bracing for. While the ECB is not expected to shift rates or make changes to its quantitative easing scheme this week, market participants will sift through President Mario Draghis statements for his view on the euro zone economy.

Among Asian bourses

Australia Stocks end flat

Australian equity market ended virtually flat after recouping intraday losses, as investors pleased with better than expected economic growth data. Data from the statistics agency showed Australias gross domestic product expanded 0.3% in the three months through March from the previous quarter and rose 1.7% on year. The S&P/ASX 200 finished 0.3 points lower at 5667.20 after falling by as much as 0.4% in early trading.

Shares of material companies boosted up by strength in gold stocks as the yellow metal surged to seven month highs. Newcrest Mining was up 0.8%, while Evolution Mining rose one%. Rio Tinto was up 1% as the miner on Wednesday detailed pricing for a US$781 million cash tender as part of its already announced US$2.5 billion bond buyback to reduce its debt. A rise in copper on the London Metals Exchange also lent support. BHP, which has significant oil interests, was 0.6% lower as oil and iron ore eased.

Shares of energy sector were driven higher by a gain of up to 5.8% by coal miner Whitehaven Coal. Other energy stocks eked out modest gains as well ahead of inventory data from the US later in the week. Woodside Petroleum, however, was 0.2% lower.

Shares of consumer sector felt selloff pressure due to concerns about falling household spending as a property boom appears to be cooling off. Wesfarmers fell 3.4%, its lowest in nearly seven months, while rival Woolworths was down 0.4%.

Nikkei virtually flat

The Japan share market finished session virtually flat, as some investors chased for bargain on intraday dip. Also, expectations for exchange-traded fund purchases by the Bank of Japan also supported the market. But the markets topside was capped amid a growing wait-and-see mood ahead of key events that include Britains general election, the European Central Banks policy meeting, and testimony in the U.S. Congress by former Federal Bureau of Investigation Director James Comey over Russia-linked allegations surrounding U.S. President Donald Trump. Uncertainties over the results of the events brought about some risk-averse sentiment in the market. Mining, nonferrous metal and securities house-related stocks comprised those that gained the most by the close of play. At the close, the 225-issue Nikkei average gained 4.72 points, or 0.02%, to close at 19,984.62. The Topix index of all first-section issues closed up 0.65 point, or 0.04%, at 1,597.09, after falling 13.53 points the previous day.

Shares of Mega-bank groups Mitsubishi UFJ, Sumitomo Mitsui and Mizuho, insurer Tokio Marine and brokerage firm Nomura were buoyant. Oil companies Japex, Inpex and JXTG Holdings also attracted buying. Other major winners included mobile phone carrier SoftBank Group, semiconductor-related Tokyo Electron, electronics maker Panasonic and daily goods producer Kao.

By contrast, automakers Toyota and Honda, camera producer Canon and industrial robot manufacturer Fanuc met with selling. Drug makers Takeda and Astellas, clothing store chain operator Fast Retailing and retail giant Seven & I Holdings were also on the minus side.

China Stocks up as firms urge workers to buy shares, MSCI inclusion hopes

The Mainland China equity market closed up, as a growing number of listed firms encouraged employees to buy shares, and as the central bank moved to ease fears of a mid-year liquidity crunch. Hopes that MSCI will include Chinas A shares in its indexes later this month also whetted investors appetite for big-cap stocks. At the close, the benchmark Shanghai Composite Index closed 1.23%, or 38.19 points, higher at 3,140.32. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, advanced 2.19%, or 39.73 points, to 1,850.53. The ChiNext gauge of smaller companies advanced 1.9% to 1,799.85 in Shenzhen, the biggest gain in three weeks.

Since Tuesday, 10 companies, including Qingdao Kingking Applied Chemistry , issued statements to the effect that the companys controlling shareholders were encouraging employees to buy shares and would compensate them should losses occur. Shares in those companies have jumped in response, and the optimism appears to be spreading as investors bet more companies would issue similar statements.

Small-capitalisation companies led gains after the China Securities Regulatory Commission slowed down the pace at which it was approving initial public offerings, which are dominated by smaller firms. The number of IPO companies was cut to four last week from seven, a second straight week of reductions. Hangzhou Landscape Architecture Design Institute surged by the 10% daily cap to 61.45 yuan and Shenzhen Minde Electronics Technology gained 6.3% to 54.83 yuan.

A gauge of consumer stocks rose 2.1% on Wednesday, the best-performing industry group after small-cap technology companies Kweichow Moutai, the nations biggest liquor maker, added 2.4% to 459.37 yuan, a record close. Wuliangye Yibin, a smaller rival, also closed at a record 50.90 yuan after a 4.9% gain.

Hong Kong Stocks end lower

The Hong Kong stock market finished session down, as risk sentiments weighed down ahead of key events that include Britains general election, a European Central Bank policy meeting and congressional testimony by fired FBI boss James Comey on Donald Trumps Russia ties. The Hang Seng Index ended down 22 points or 0.1% to 25,974. Turnover increased to HK$87 billion from HK$74.6 billion on Tuesday.

AAC Tech (02018) soared 14% to HK$92.55 on resumption of trading after dismissing an allegation by a US-based short-seller of n++dubious accounting practicesn++ and overstating profits. The company issued a clarification announcement and denied all the allegations made against the company in the Gotham City Researchs report. The company provided an independent report that rates it as a n++strong buyn++ with a target price of HK$111 at a Tuesday press conference.

Macau gaming counters were higher. Galaxy Entertainment (00027) and Sands China (01928) rose 4% and 2% to HK$45.95 and HK$35.05. Melco International Development (00200) added 2% to HK$19.9.

Link REIT (00823) declared a final distribution of HK116.7 cents, up 8.8%. The stock was flat at HK$61.65.

Tongda Group (00698) rebounded 9% to HK$2.2 after the company fell off the radar of the short-sellers.Meanwhile, FG Alpha Management also said it was short Dali Foods (03799), which ended down 7% to HK$4.3.

Man Wah Holdings tumbled 10% to HK$6.03 before trading was suspended, as the sofa maker became the latest short-selling target of Muddy Waters Research. The company has 48% more debt than it had disclosed, Muddy Waters founder Carson Block said during an investment conference in Hong Kong.

New World Department Store China surged 43% to HK$1.90 on plans to take the company private as the stock resumed trading after being suspended over the past two days.

Indian market logs modest gains as RBI maintains status quo on repo rate

Key benchmark indices settled with modest gains in a volatile session of trade after the Reserve Bank of India (RBI) decided to keep the policy repo rate unchanged after a policy review meet today. The barometer index, the S&P BSE Sensex rose 80.72 points or 0.26% to settle at 31,271.28. The Nifty 50 index gained 26.75 points or 0.28% to settle at 9,663.90. Gains on the domestic bourses supported by good prospects of rains and firm global stocks.

A sharp drop was witnessed in IT stocks amid a media report saying that the Infosys clients were asking for 20-30% cut in prices for projects. Bank stocks rose after RBI kept policy repo rate steady. Pharma stocks rose on bargain hunting after the recent losses.

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