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Asia Pacific Market: Stocks trade sluggish
Aug 16,2016

Asia Pacific share markets were sluggish on Tuesday, 16 August 2016, amid expectations of an extended phase of monetary easing after downbeat economic data from major economies. The MSCI Asia Pacific Index fell 0.1% to 139.69.

Most countries are easing their monetary policies, with Britain, Australia and New Zealand cutting rates in recent weeks and Japan stepping up purchases of exchange-traded funds. The expected easing posture of central banks globally suggests the Fed may be slower to raise short-term interest rates and that could be reflected in the minutes.

Asian stocks have climbed 24% from their February low as lackluster data from the worlds biggest economies fueled speculation central banks will continue to support them with stimulus and loose monetary policy.

Investor sentiment got a boost as oil prices remained near five-week highs on Tuesday, gaining 16% in a rally since early August as speculation intensified over potential producer action to support prices amid a glut. Prices advanced last week as Saudi Arabia signaled its prepared to discuss stabilizing markets at informal OPEC discussions next month.

Among Asian bourses

Japan Market closed down

The Japan share market declined, weighed by disappointing Japanese second-quarter GDP figures and a stronger yen. Trading was also thin with many investors away for Japan s week-long Obon holiday. The Japanese growth figures missed economist expectations for a modest 0.2% expansion, as weak exports and a fall in business spending held back activity. Total 32 out of 33 TSE sectors declined, with Real Estate, Insurance, Securities & Commodities Futures, Construction, Metal Products, and Precision Instruments issues being major losers. The 225-issue Nikkei stock average stumbled 273.05 points, or 1.62%, to finish at 16596.51. The Topix index of all first-section issues ended down 18.16 points, or 1.38%, at 1298.47.

Cyberdyne Inc., a Japanese maker of robot exoskeletons for patients with spinal difficulties, tumbled 6.8% after short-seller Citron Research said the companys stock is poised to plunge. The report is malicious and contains factual inaccuracies, Cyberdyne Chief Financial Officer Shinji Uga said.

Pachinko-machine maker Sankyo Co. slid 3.4% after SMBC Nikko Securities Inc. cut its target price on the stock.

Sony Corp. lost 0.2% after rising by as much as 1.4%. Fitch Ratings revised its outlook on the consumer electronics maker to positive, citing higher margins in its non-financial businesses and the managements commitment to improve profitability.

ASX200 falls 0.14%

Australian share market finished lower in subdued trade, as weakness in consumer discretionary, telecom, utilities, and financial stocks were more than offset by gains in materials & resources and energy players. At close of trade, the benchmark S&P/ASX 200 index declined 8 points, or 0.14%, to 5532. The broader All Ordinaries declined 8.10 points, or 0.14%, to 5625.70.

The banks and financial stocks declined, with top four lenders leading downtrend. ANZ Banking Group declined 0.1% to A$26.58, Commonwealth Bank of Australia 0.4% to A$76, Westpac Banking Corp 0.2% to A$29.71, and National Australia Bank 0.6% to A$27.04.

Energy stocks were up, after benchmark oil prices rose on fresh hopes of OPEC members agreeing to a cap on supply. Woodside Petroleum added 1% to A$27.65, Oil Search 0.1% to A$7.38, and Santos 2.5% to A$4.90.

Mining stocks also edged higher after Mondays weak session, with BHP Billiton up 0.5% to A$20.25 ahead of its results which were announced after the markets close. Meanwhile Rio TInto rose 0.9% to A$48.46 and Fortescue Metals gained 1.8% to A$4.52.

China Market falls on profit booking

Mainland China stock market closed down, amid profit booking after the benchmark indices jumped to their highest in more than seven months on Monday. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.45%, to 3378.25. The Shanghai Composite Index declined 0.49%, to 3110.04 points while the Shenzhen Composite index closed 0.67% up at 2036.80 points.

China stocks jumped to their highest in more than seven months on Monday as investors bet that disappointing economic data for July would prod Beijing to unleash fresh stimulus. China reported weaker-than-expected investment, lending, retail spending and factory output data on Friday, on top of weak trade numbers, keeping alive hopes the government will roll out more support measures this year to meet its ambitious economic growth targets.

The banking sector dropped 2.3% on profit-taking, following the previous sessions jump. But real estate stocks remained strong, with an index tracking the sector rising 2% to fresh seven-month high, bringing gains so far this month to 26%. Bellwether Vanke jumped 7% to an all-time high.

Hong Kong Stocks closed flat

The Hong Kong stock market closed flat after retreating from nine-month highs, as weak lead from regional market offset news of much-anticipated Shenzhen-Hong Kong stock trading link. The benchmark Hang Seng Index (HSI) opened up 75 points to 23,008. It then soared as much as 152 points to an intra-day high of 23,084, which was also a nine-month high. But the market lacked further momentum, and retreated to the negative territory at one stage, down 91 points to 22,841. The benchmark Hang Seng Index fell 21.67 points, or 0.09%, to 22910.84 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, dropped 0.90 point, or 0.01%, to 9707.99. Turnover decreased to HK$84.2 billion from HK$89.3 billion on Monday.

China Vanke (02202) gained 2.2% to HK$20.95 after Evergrande (03333) became its third largest shareholder. Evergrande edged up 0.7% to HK$5.91. Tencent (00700) put on 2.3% to HK$195.43 ahead of its earnings report tomorrow. Both Macquarie Research and Credit Suisse are optimistic towards Tencents interim results.

Wheelock (00020) fell 2.9% to HK$42.05 after its interim net declined 29%. Macquarie Research downgraded the stock to neutral, while Credit Suisse reiterated its underperform recommendation.

Elsewhere, Sunny Optical (02382) interim earnings soared 50%. Its shares surged 13.5% to HK$37.9 as both Morgan Stanley and Macquarie are bullish to the outlook for the optical products manufacturer.

Indian indices register small losses

Trading for the week began on a subdued note as losses for IT stocks and index heavyweights HDFC and Reliance Industries (RIL) pushed the two key benchmark indices lower. The barometer index, the S&P BSE Sensex, fell 87.79 points or 0.31% to settle at 28,064.61. The Nifty 50 index fell 29.60 points or 0.34% to setle at 8,642.55.

Index heavyweight Reliance Industries edged lower on reports the petroleum ministry has slapped a penalty of nearly $250 million on the company to make good the governments loss of profit petroleum owing to the firms inability to meet the natural gas production targets from the Krishna-Godavari (KG) D6 block. Infosys edged lower after the company lost a contract from Royal Bank of Scotland (RBS) as RBS decided not to pursue its plan to separate and list a new UK standalone bank, Williams & Glyn (W&G). L&T moved higher after the company won a contract from the Maharashtra state government to convert Nagpur into an integrated smart city.

Hindalco Industries edged higher with the stock extending previous trading sessions gains triggered by the company reporting strong Q1 June 2016 earnings. State Bank of India edged higher, with the stock extending previous sessions gains triggered by the state-run bank reporting a smaller-than-expected increase in bad loans in Q1 June 2016. Sun Pharmaceutical Industries edged lower on reports that a foreign brokerage has downgraded the stock to neutral from buy, citing increased competition for the companys US subsidiary.

Elsewhere in the Asia Pacific region: New Zealands NZX50 fell 1.1% to 7310.67. South Koreas KOSPI index dropped 0.1% to 2047.76. Taiwans Taiex index fell 0.42% to 9110.35. Malaysias KLCI was up 0.57% to 1699.89. Indonesias Jakarta Composite index rose 1% to 5371.85. Singapores Straits Times index fell 0.3% to 2858.80.

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Hong Kong Stocks closed flat
Aug 16,2016

The Hong Kong stock market closed flat after retreating from nine-month highs on Tuesday, 16 August 2016, as weak lead from regional market offset news of much-anticipated Shenzhen-Hong Kong stock trading link. The benchmark Hang Seng Index (HSI) opened up 75 points to 23,008. It then soared as much as 152 points to an intra-day high of 23,084, which was also a nine-month high. But the market lacked further momentum, and retreated to the negative territory at one stage, down 91 points to 22,841. The benchmark Hang Seng Index fell 21.67 points, or 0.09%, to 22910.84 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, dropped 0.90 point, or 0.01%, to 9707.99. Turnover decreased to HK$84.2 billion from HK$89.3 billion on Monday.

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ASX200 falls 0.14%
Aug 16,2016

Australian share market finished lower in subdued trade Tuesday, 16 August 2016, as weakness in consumer discretionary, telecom, utilities, and financial stocks were more than offset by gains in materials & resources and energy players. At close of trade, the benchmark S&P/ASX 200 index declined 8 points, or 0.14%, to 5532. The broader All Ordinaries declined 8.10 points, or 0.14%, to 5625.70.

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Japan Market closed down
Aug 16,2016

The Japan share market declined on Tuesday, 16 August 2016, weighed by disappointing Japanese second-quarter GDP figures and a stronger yen. Trading was also thin with many investors away for Japan s week-long Obon holiday. The Japanese growth figures missed economist expectations for a modest 0.2% expansion, as weak exports and a fall in business spending held back activity. Total 32 out of 33 TSE sectors declined, with Real Estate, Insurance, Securities & Commodities Futures, Construction, Metal Products, and Precision Instruments issues being major losers. The 225-issue Nikkei stock average stumbled 273.05 points, or 1.62%, to finish at 16596.51. The Topix index of all first-section issues ended down 18.16 points, or 1.38%, at 1298.47. Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 1729 to 243 and 85 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 5.24% to 20.89.

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Strong gains at Wall Street
Aug 12,2016

The three main stock-market indexes rang up record highs on Thursday, 11 August 2016 as better-than-expected economic data and a rebound in oil prices boosted Wall Street sentiment. The benchmark index erased a modest weekly loss as stronger-than-expected earnings results from retail names and a reversal in crude oil spurred a risk rally in the broader market. Other focal points impacting todays trade included a rebound in the dollar and leadership from the heavily-weighted health care, industrial and consumer discretionary sectors.

The Dow Jones Industrial Average rallied 117.86 points, or 0.7%, to close at 18,613.52. The average was led by a 2.9% jump in Nike shares. The Nasdaq Composite Index gained 23.81 points, or 0.5%, to finish at 5,228.40. The S&P 500 index rose 10.30 points, or 0.5%, to close at 2,185.79.

The major averages began the day on a higher note as above-consensus bottom-line results from the likes of Alibaba, Kohls and Macys improved investor sentiment. The three names bolstered the consumer discretionary space which ended among the leaders. Additionally, a rebound in oil futures contributed to a positive bias at the start of todays session.

Energy shares led the gains with a 1.3% jump, while consumer-discretionary stocks advanced 1%, thanks in part to a big jump in shares of Macys, and Kohls following earnings.

The gains were supported by weekly jobless claims, which pointed to continued low levels of layoffs, while both import and export prices inched up despite a decline in fuel costs, suggesting a possible pick up in inflation. The Federal Reserve has been looking at a return of healthy levels of inflationn++but low crude-oil costs have stymied thatn++to determine when to raise interest rates.

Crude oil was in focus as investors examined a mixed reading of the International Energy Agencys monthly report and responded to commentary from Saudi Oil Minister Khalid al-Falih. The IEA trimmed its 2017 global oil demand estimate to 1.2 million barrels per day (from 1.3 million barrels), but also stated that it expects the supply overhang to be gone by the end of 2016. Separately, the Saudi oil minister indicated that the current market situation and potential plans to stabilize oil prices would be discussed at the cartels next meeting on September 26-28. Market participants likely took this news with a grain of salt, remaining skeptical of potential production cuts from the oil collective. Nevertheless, crude oil rallied 4.2% on the news, likely benefiting from a fair amount of short covering.

The U.S. Dollar Index ended higher as the pound, euro, and yen each lost ground to the greenback.

Treasuries settled near session lows as yields rose throughout the complex. The yield on the 10-yr note finished higher by seven basis points at 1.56%.

Todays participation was below the recent average as fewer than 761 million shares changed hands at the NYSE floor.

Tomorrows economic data will include July PPI (consensus 0.0%) and July Retail Sales (consensus +0.4%), which will each cross the wires at 8:30 ET. Separately, the preliminary reading of the Michigan Sentiment Index for August (90.2) and Business Inventories for June (consensus +0.1%) will be released at 10:00 ET.

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China Market falls on corrections in resources and small-caps
Aug 11,2016

Mainland China stock market closed down after wiping out initial gain on Thursday, August 11, 2016, as sharp corrections in resources shares and small-caps dragged main indexes lower, despite gains in financial plays. Market sentiments were troubled with news that China devalued its renminbi currency by 2% against the dollar, sparking its largest one-day drop in 11 years, and anticipation of another economic data deluge on Friday. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.31%, to 3233.36, while the Shanghai Composite Index declined 0.53%, to 3002.64 points and the Shenzhen Composite index closed 1.28% down at 1950.92 points.

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Hong Kong Stocks shine on Shenzhen link talks
Aug 11,2016

The Hong Kong stock market climbed to an eight-month high in volatile trade on Thursday, 11 August 2016, as investors encouraged by rumors that authorities would announce the launch of Shenzhen-HK Connect program after mainland markets close. The benchmark Hang Seng Index advanced 88.12 points, or 0.39%, to 22580.55 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, rose 107.84 points, or 1.16%, to 9423.34. Turnover increased significantly to HK$75.8 billion from HK$61.2

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Japan Stock market closed for the Mountain Day public holiday
Aug 11,2016

Japan Stock market closed for the Mountain Day public holiday

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ASX200 falls 0.64%
Aug 11,2016

Australian share market finished lower for second straight session on Thursday, 11 August 2016, with banks and financial heavyweight stocks leading losses following a trading update from one of the countrys biggest lenders while energy stocks were knocked by a slump in crude-oil prices. At close of trade, the benchmark S&P/ASX 200 index declined 35.70 points, or 0.64%, to 5508. The broader All Ordinaries declined 28.80 points, or 0.51%, to 5599.40. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 526 to 509 and 350 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 2.74% to 13.053.

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US stocks rally following stellar job report
Aug 08,2016

U.S. stocks rallied to close higher on Friday, 05 August 2016 after a stellar jobs report outstripped Wall Street expectations, showing sustained improvement in a labor market that has been spotty over the past few months. Fridays equity rally nudged the S&P 500 and Nasdaq Composite to close at all-time closing highs. The upbeat employment report elicited buying interest while diminishing on-going concerns regarding the strength of the U.S. labor market. Other factors impacting todays trade included weakness from the oil pit, continued strength in the dollar, and sector leadership from the heavily-weighted financial, technology, and consumer discretionary sectors.

The Dow Jones Industrial Average surged 191.48 points, or 1%, to finish at 18,543.53. The Nasdaq Composite Index climbed 54.87 points, or 1.1%, to close at 5,221.12. The S&P 500 finished up 18.62 points, or 0.9%, to 2,182.87.

Financials and technology stocks led the gains, up 1.9% and 1.2%, respectively, while defensive sectors such as utilities and telecoms lagged behind. Shares of Merck skyrocketed 10.4% to lead the blue-chip gauge.

For the week, the Dow industrials climbed 0.6%, the S&P 500 gained 0.4%, and the Nasdaq rallied 1.1%.

Todays economic data included the Employment Situation Report for July, the June Trade Balance, and June Consumer Credit.

The Labor Department announcedon Friday that the U.S. economy added 255,000 jobs last month, which follows a stellar gain in June, demonstrating that the economy is still healthy, despite relatively muted gross domestic product. The unemployment rate was unchanged at 4.9% even as the labor-force participation rate edged up to 62.8%, suggesting the labor market is tightening. Furthermore, average hourly earnings also came in better-than-expected, which could pave the way to an increase in inflation expectations.

The positive employment report brought forward rate hike expectations, but the fed funds futures market still does not believe that a rate hike will happen before the end of 2016. The fed funds futures market currently estimates the odds of a rate hike at the December meeting at 46.5%, rising from yesterdays implied probability of 32.1%. The dollar strengthened in response while gold fell and the economically-sensitive financial sector led todays rally.

In other economic news, the U.S. trade deficit jumped 8.7% in June to a 10-month high of $44.5 billion, reflecting the higher cost of oil and more imports of consumer goods such as cellphones and drugs.

Oil futures declined 13 cents to settle at $41.80 a barrel, while gold prices fell 1.7% to settle at $1,344.40 an ounce after the jobs report.

The U.S. Dollar Index ended off its best level of the day, but the greenback still finished with gains against the pound, yen, and euro on Friday.

Treasuries ended the day on a lower note as yield rose across the curve. The yield on the 10-yr note settled higher by eight basis points, rising to 1.59%.

Participation was in-line with the recent average as more than 842 million shares changed hands at the NYSE floor.

There is no economic data of note scheduled to be released on Monday.

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Asia Pacific Market: Stocks end lower
Aug 02,2016

Asia Pacific share market declined on Tuesday, August 2, 2016, as the rate decision in Australia and Japans stimulus package failed to excite investors in the region. MSCIs broadest index of Asia-Pacific shares outside Japan was down 0.4 percent.

The cabinet of Japanese Prime Minister Shinzo Abe on Tuesday approved a 28 trillion yen ($274 billion) stimulus package, which on paper ranks as one of the nations largest since the 2008 global financial crisis. However, some three-quarters of the package will be made up of targeted low-interest loans from the government and state-owned companies, leaving just 7.5 trillion yen being actual new and direct spending, but even that will be spread over the next two years.

The Reserve Bank of Australias on Tuesday cuts its overnight cash rate-target by a quarter percentage point to an all-time low of 1.50%, in response to record-low inflation and a slowing jobs market.

Overnight, oil prices fell sharply, briefly dipping below $40 a barrel because of a supply glut. Brent crude was trading 0.2% lower in late Asia trading. Prices have dropped 22% in less than two months, ending a rally that sent prices above $50 in early June. Supply is returning to Iraq and Nigeria, while Saudi Arabias output will likely hit record levels, say analysts.

Among Asian bourses

Australia Market slips 0.84%

Australian share market ended down after reversing early gain, as a tumbling oil price weighed on energy stocks and as the Reserve Bank of Australia cut the benchmark lending rate to a new record low had been expected by the market. At close of trade, the benchmark S&P/ASX 200 index declined 46.90 points, or 0.84%, to 5540.50. The broader All Ordinaries has lost 48 points, or 0.85%, to 5622.10.

Energy and materials were the biggest drag on the market, down 3.2% and 2.1% respectively, following an overnight tumble in the oil price on fears of an expanding glut, particularly in the United States.. Rio Tinto and BHP Billiton fell 0.6% to A$49.41 and 2.2% to A$19.41, respectively. Fortescue Metals shares were down 1.1% to A$4.42. Woodside Petroleum dropped 2.2% to A$26.44 and Origin Energy sank 3.9% to A$5.48.

The banks and financials had a worst day, as the Reserve Bank of Australia delivered a 25 basis point cut, dropping the official cash rate to a record low 1.5 per cent, had been expected by the market. National Australia Bank declined 0.4% to A$26.59, Commonwealth Bank of Australia 0.5% to A$77.59. Westpac Banking Corp 0.9% to A$30.83, and ANZ Banking Group 0.2% to A$25.73.

Japan Market tumbles 1.47%

The Japan share market closed down, amid concern that a well-flagged government spending package from Prime Minister Shinzo Abe will fail to deliver much benefit to the economy. The 225-issue Nikkei Stock Average slipped 244.32 points, or 1.47%, to 16391.45. The broader Topix Index of all First Section issues on the Tokyo Stock Exchange finished 21.63 points, or 1.64%, down at 1,300.20.

Shares of financial companies have were the biggest drags on the Topix, with all 33 industry groups falling. Mitsubishi UFJ Financial Group Inc. dropped 5.9% after reporting a 32% decline in net income in the first quarter from a year earlier, as negative interest rates lowered lending income and the company slowed sales of its shareholdings.

ANA Holdings Inc. retreated 4% after the Nikkei newspaper reported the airlines operating profit last quarter is likely to be around 20% less than last year amid fiercer competition from budget operators on Japan-China routes.

Nippon Soda Co. surged 6.4% after the chemical-products manufacturer said itll spend about 2 billion yen buying back shares.

China Stocks rebound 0.61%

Mainland China stock market rebounded from one-month low, as investors chased for bottom hunting, with real estate shares leading rally on encouraging price reports, while small-caps bounced on signs of foreign interest. However, trading remained thin as investors are still concerned about the economy, and worry about market liquidity as regulators step up their crackdown on speculative trading while nine companies launch initial public offers this week. The CSI300 index of the largest listed companies in Shanghai and Shenzhen gained 0.39%, to 3189.05, while the Shanghai Composite Index inclined 0.61%, to 2971.28 points.

Real estate stocks were firm, rising 1.6 percent, amid reports that home prices in Chinas 100 major cities have posted month-on-month gains for 15 months in a row.

Chinas yuan erased early losses to swing to a gain in afternoon trading. The Chinese currency rose 0.09 percent to 6.6360 a dollar of 6:07 p.m. in Shanghai, according to China Foreign Exchange Trade System prices. The PBOC Tuesday weakened the yuans daily fixing against the greenback by 0.26 percent, halting a five-day increase of 0.9 percent.

Sensex hits lowest closing level in a week

Key benchmark indices registered small losses in a volatile trading session. The barometer index, the S&P BSE Sensex shed 21.41 points or 0.08% to settle at 27,981.71. The Nifty dropped 13.65 points or 0.16% to settle at 8,622.90.

Stocks of public sector banks were mostly higher. Stocks of private sector banks were mixed. Tech Mahindra shrugged off weak Q1 June 2016 earnings. Hero MotoCorp edged higher after the company announced a 9.13% growth in its total sales in July 2016. Maruti Suzuki India rose after the company increased prices of select models with effect from 1 August 2016. Bharat Financial Inclusion tumbled following the arrest of the companys President S Dilli Raj by the Enforcement Directorate.

Elsewhere in the Asia Pacific region: New Zealands NZX50 fell 0.4% to 7329.20. South Koreas KOSPI index slipped 0.5% to 2019.03. Taiwans Taiex index grew 0.13% to 9068.76. Malaysias KLCI was down 0.3% to 1660.23. Indonesias Jakarta Composite index added 0.2% to 5373.32. Singapores Straits Times index slipped 1.2% to 2856.67. Hong Kong market trading was suspended as Typhoon Nida.

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Hong Kong Market trading suspended because of a typhoon warning
Aug 02,2016

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Australia Market slips 0.84%
Aug 02,2016

Australian share market ended down after reversing early gain on Tuesday, 02 August 2016, as a tumbling oil price weighed on energy stocks and as the Reserve Bank of Australia cut the benchmark lending rate to a new record low had been expected by the market. At close of trade, the benchmark S&P/ASX 200 index declined 46.90 points, or 0.84%, to 5540.50. The broader All Ordinaries has lost 48 points, or 0.85%, to 5622.10.

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Japan Market tumbles 1.47%
Aug 02,2016

The Japan share market closed down on Tuesday, 02 August 2016, amid concern that a well-flagged government spending package from Prime Minister Shinzo Abe will fail to deliver much benefit to the economy. The 225-issue Nikkei Stock Average slipped 244.32 points, or 1.47%, to 16391.45. The broader Topix Index of all First Section issues on the Tokyo Stock Exchange finished 21.63 points, or 1.64%, down at 1,300.20.

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China Stocks rebound 0.61%
Aug 02,2016

Mainland China stock market rebounded from one-month low on Tuesday, 02 August 2016, as investors chased for bottom hunting, with real estate shares leading rally on encouraging price reports, while small-caps bounced on signs of foreign interest. However, trading remained thin as investors are still concerned about the economy, and worry about market liquidity as regulators step up their crackdown on speculative trading while nine companies launch initial public offers this week. The CSI300 index of the largest listed companies in Shanghai and Shenzhen gained 0.39%, to 3189.05, while the Shanghai Composite Index inclined 0.61%, to 2971.28 points.

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