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U.S. stocks closed lower on Friday
Dec 19,2016

U.S. stocks closed lower on Friday, 16 December 2016 with the Dow industrials swinging to a loss, following reports that a Chinese warship seized an underwater U.S. Navy drone in international waters off the coast of the Philippines. Equities spent the Friday affair inside narrow ranges amid a mixed showing from individual sectors. Most countercyclical groups displayed strength from the start, but their gains were not sufficient to offset losses among cyclical sectors. Even as the Dow was curtailed from its advance to the psychologically important 20,000 level, the blue-chip average still nabbed its longest weekly winning streak in more than a year, rising six weeks in a row.

The Dow Jones Industrial Average which had been up by as many as 71 points earlier, swung to a loss after the Department of Defense announced a Chinese naval vessel took an underwater Navy drone that was collecting water measurements like temperature and salinity. The average finished down 8.83 points, or less than 0.1%, at 19,843.41. The Nasdaq Composite fell 19.69 points, or 0.4%, to finish at 5,437.16. The S&P 500 which had been struggling earlier, declined 3.96 points, or 0.2%, to close at 2,258.07.

All but five of the S&P 500s 11 primary sectors rose on the day. The biggest gainers were utilities and real estate, which both closed up 1.2% despite a weak reading on housing starts. The largest blue-chip decliners were Caterpillar and Goldman Sachs.

The news weighed on sentiment, keeping the market near its low into the afternoon. Treasuries climbed off their lows in reaction to the news, but afternoon backtracking left the 10-yr note in the middle of its range. The benchmark yield slipped one basis point to 2.59%.

The Fed news has fueled a rally in the ICE Dollar Index which shot to a 14-year high on Thursday. The index was last down 0.2%.

Economic data at Wall Street was limited to Housing Starts and Building Permits. November housing starts declined 18.7% to a seasonally adjusted annual rate of 1.090 million units (consensus 1.225 mln). Building permits declined 4.7% to a seasonally adjusted annual rate of 1.201 million (consensus 1.236 million), although permits for single-family homes increased 0.5% to 778,000. The November report followed a big beat in October, thus market reaction was limited.

Crude oil prices settled higher on Friday, 16 December 2016 to tally a gain for the week, with traders encouraged by signs that major oil producers will adhere to the pledge to curb output but still concerned about potential production increases in the U.S. and Libya. Prices had lower earlier amid news that Libya has restarted operations at two key oil fields. The market has seen some signs of planned compliance with the output pact among members of the Organization of the Petroleum Exporting Countries and other oil producers. On the New York Mercantile Exchange, January West Texas Intermediate crude added $1, or 2%, to settle at $51.90 a barrel. For the week, prices rose roughly 0.8%.

Investor participation was well above average due to quadruple witching. More than two billion shares changed hands at the NYSE floor.

Investors will not receive any economic data on Monday.

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Asia Pacific Market: Stocks tepid on capital outflow woes
Dec 16,2016

Asia Pacific share market mostly higher on Friday, 16 December 2016, following rally on Wall Street and European market overnight, but gains were limited as a surging US dollar and elevated US bond yields raised likelihood of fund outflows from emerging markets. MSCIs broadest index of Asia-Pacific shares outside Japan crawled up 0.1% after falling 1.8% on Thursday.

Emerging market countries worried over capital leaving in search of higher yields and return along with the growing cost of paying back dollar denominated debt.

The dollar stood near a 14-year peak, bond yields were highly elevated and Asian stocks struggled for traction on Friday as global markets continued adjusting to the idea of higher US interest rates. In a move that reverberated across the financial markets, the Fed on Wednesday raised rates for the first time in a year and projected three more increases in 2017, up from the two projected in September.

The dollar index, which measures the greenback against a basket of six major rivals, keeps chugging higher, hitting roughly 14-year high of 103.320, in anticipation of a more hawkish Federal Reserve and a boost in US economic growth under President-elect Donald Trump.

US stocks rebounded overnight, led by gains in bank shares, a day after the Federal Reserve raised interest rates for the second time in nearly a decade. Investors initially hit sell in response to a more hawkish Fed, which now sees three rate hikes next year instead of the two foreseen in September. But a day after the decision the market shifted tack, focusing more on the strengthening economy. Growth is likely to benefit as a result of the fiscal stimulus expected to hit under President-elect Donald Trump. Trumps spending plans could trigger inflation and bring about higher interest rates, making banks a likely winning sector in the new administration.

Among Asian bourses

Australia Stocks end lower

Australian share market finished session slight below neutral line, weighed down by weakness in commodity-related stocks, however, strength in consumer goods, industrial and realty counters helped to limit losses. At the closing bell, the benchmark S&P/ASX 200 index declined 5.70 points, or 0.1%, to 5532.90, while the broader All Ordinaries index dropped 5.30 points, or 0.09%, to close at 5589.70.

Shares of energy and materials companies extended losses, pressured by soft commodity prices. Woodside Petroleum declined 0.2% to A$30.93 and Origin Energy shed 0.5% to A$6.47 as a stronger greenback pressured demand for dollar-denominated crude. Among blue-chip miners, Rio Tinto lost 1.3% to A$59.29 and BHP Billiton, which also has significant oil interests, fell 1.3% to A$25 as Chinese iron ore futures dropped for a second session on Thursday. Gold miner Newcrest dropped 4.7% to A$16.75 s the precious metals price dropped to a 10-month low. Fortescue Metals, however, was up 0.2% to A$6.30, as it reassured investors with a further $1 billion repayment of a 2019 senior secured credit facility.

The banks were a mixed bag, with the Commonwealth Bank of Australia up 0.5% to A$81.06 and National Australia Bank up 0.2% to A$29.97 while ANZ and Westpac finished down 0.6% to A$29.81 and 0.2% to A$32.19, respectively.

Nikkei hits fresh one-year high

The Japan share market closed at fresh one-year high, as the yen depreciation to upper 118 level against greenback boosted exporters, meanwhile Japan financials were benefited from rising yields for global government bonds. The benchmark Nikkei 225 index added 0.66%, or 127.36 points, marking its highest closing level since December 2015. The broader Topix index of all first-section shares was up 0.52%, or 7.95 points, to finish at 1,550.67

Shares of export related companies advanced. The Japanese goods and services appeared cheaper on an exchange rate basis as the US dollar surged to fresh 10-month highs against the yen. Canon Inc rose 0.5% while camera maker Olympus rose 0.9%. Mitsubishi Motors closed up 2%, Mazda Motor was up 1.9% and Nissan Motor added 1%.

Banks were also up, benefiting from rising yields for global government bonds, in which they invest heavily. The yield on 10-year Japanese government bonds rose to 0.100% on Friday for the first time since Jan. 29, the day the Bank of Japan announced its negative-interest-rate policy. Mitsubishi UFJ Financial Group climbed 1.7% while Mizuho Financial Group Inc soared 2.2%.

China Stocks edge up

Mainland China stock market managed to eke out gains after early losses, on easing concerns over liquidity crunch in the banking system after reports Chinas central bank has pumped 600 billion yuan into the financial system over the past two days to stabilize the bond and stock markets. Sectors were mixed, with infrastructure and healthcare recovered some losses early this week, while banks and materials continued to lag on the dollars strength. The Shanghai Composite Index added 0.17% to 3,122.98, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.95% to 1,991.64. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 1.13% to close at 1,998.11 points. For the week, the Shanghai Composite Index was down 3.4%, its worst retreat in nearly eight months.

Stocks treaded carefully after regulators were reported to take more measures against insurers. Chinas insurance regulator has issued warnings to 10 companies after they failed to properly carry out self-inspections on their risk levels, the Securities Daily newspaper reported on Friday. The insurance regulator was also contemplating a cut in the single shareholders maximum stake in an insurance company to less than one third from 51%. The insurance regulator was also contemplating a cut in the single shareholders maximum stake in an insurance company to less than one third from 51%. Investors found some solace from the bond market. Chinas 10-year treasury futures rebounded 1.33% on Friday.

Hong Kong Stocks extend losses

The Hong Kong stock market finished at 4-1/2-month low, as caution over interest rate increases and the soaring US dollar dented confidence. A Fed rate hike affects borrowing costs in Hong Kong as the citys monetary policy is linked to that of the United States. The Hang Seng Index ended down 0.18%, or 38.65 points, to 22,020.75, while the Hang Seng China Enterprises index dropped 0.09%, or 8.83 points, to 9,470.33. Turnover decreased to HK$71.7 billion from HK$80.8 billion on Thursday.

Morgan Stanley raised Macau GGR growth in 2017 to 10% from 2%, or US$39 billion. But it also noted rich valuation in the industry. Galaxy Entertainment (00027) and Sands China (01928) rose 1.2% to HK$0.8% to HK$33.9 and HK$33. AIA (01299) bucked the downtrend, rising 1.5% to HK$44.4. It was the top blue-chip gainer today.

CKI Holdings (01038) slipped 2% to HK$62.3 after Citi Research lowered its target price and rated it sell. The stock registered HK$106 million worth of block deal.

Gold prices slipped 1% to 10-and-a-half month low. Zhaojin Mining (01818) plunged 6% to HK$6.29. China Gold (02099) dived 8% to HK$12.84. Zijing Mining (02899) declined 4% to HK$2.4.

India Benchmark indices settle with small losses

Key benchmark indices registered small losses tracking lacklustre trading on the European and Asian bourses. The market opened amid initial volatility and later for the entire trading session hovered a tad above and below the neutral line mirroring subdued market sentiments elsewhere in global markets today, 16 December 2016. The barometer index, the S&P BSE Sensex, lost 29.51 points or 0.11% to settle at 26,489.56. The Nifty declined 14.15 points or 0.17% to settle at 8,139.45.

Yes Bank was off 0.43%. The bank announced that it has necessary approvals from the board of directors and shareholders to borrow/ raise funds in Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, MTN (Medium Term Notes), bonds upto Rs 10000 crore by the bank, in one or more tranches on private placement basis from time to time. The announcement was made after market hours yesterday, 15 December 2016.

Sun Pharmaceutical Industries (Sun Pharma) was down 0.38%. The company said that all the necessary formalities for closure of acquisition of 100% equity stake of Ocular Technologies, Sarl have been concluded and it has successfully completed the acquisition of Ocular Technologies, Sarl. The announcement was made after market hours yesterday, 15 December 2016.

Bharat Heavy Electricals (Bhel) was down 2.07%. The company announced during market hours today, 16 December 2016 that it has bagged a major order for supply of 118 sets of IGBT-based traction converters for 3 phase 6,000 HP electric locomotives. Valued at Rs 200 crore, the order has been placed on Bhel by Chittaranjan Locomotive Works (CLW).

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Hong Kong Stocks extend losses
Dec 16,2016

The Hong Kong stock market finished at 4-1/2-month low on Friday, 16 December 2016, as caution over interest rate increases and the soaring US dollar dented confidence. A Fed rate hike affects borrowing costs in Hong Kong as the citys monetary policy is linked to that of the United States. The Hang Seng Index ended down 0.18%, or 38.65 points, to 22,020.75, while the Hang Seng China Enterprises index dropped 0.09%, or 8.83 points, to 9,470.33. Turnover decreased to HK$71.7 billion from HK$80.8 billion on Thursday.

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China Stocks edge up
Dec 16,2016

Mainland China stock market managed to eke out gains after early losses on Friday, 16 December 2016, on easing concerns over liquidity crunch in the banking system after reports Chinas central bank has pumped 600 billion yuan into the financial system over the past two days to stabilize the bond and stock markets. Sectors were mixed, with infrastructure and healthcare recovered some losses early this week, while banks and materials continued to lag on the dollars strength. The Shanghai Composite Index added 0.17% to 3,122.98, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.95% to 1,991.64. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 1.13% to close at 1,998.11 points. For the week, the Shanghai Composite Index was down 3.4%, its worst retreat in nearly eight months.

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Nikkei hits new one-year high
Dec 16,2016

The Japan share market closed at fresh one-year high on Friday, 16 December 2016, as the yen depreciation to upper 118 level against greenback boosted exporters, meanwhile Japan financials were benefited from rising yields for global government bonds. The benchmark Nikkei 225 index added 0.66 per cent, or 127.36 points, marking its highest closing level since December 2015. The broader Topix index of all first-section shares was up 0.52 per cent, or 7.95 points, to finish at 1,550.67

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Australia Stocks end lower
Dec 16,2016

Australian share market finished session slight below neutral line on Friday, 16 December 2016, weighed down by weakness in commodity-related stocks, however, strength in consumer goods, industrial and realty counters helped to limit losses. At the closing bell, the benchmark S&P/ASX 200 index declined 5.70 points, or 0.1%, to 5532.90, while the broader All Ordinaries index dropped 5.30 points, or 0.09%, to close at 5589.70.

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China Stocks struggle after Fed raises rates
Dec 15,2016

Mainland China stock market closed at one-month lows on Thursday, 15 December 2016, after the U.S. Federal Reserve raised interest rates and signaled a faster pace of interest-rate increases than expected in 2017. Strength in small-caps was offset by a tumble in banking shares, triggered by a dramatic sell-off in bond markets that raised the spectre of liquidity crunch in the banking system. The Shanghai Composite Index fell 0.73% to 3,117.68, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.67% to 1,972.91. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.65% to close at 1,975.85 points.

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Nikkei hits fresh one-year high as yen plunges
Dec 15,2016

The Japan share market closed higher on Thursday, 15 December 2016, bucking the regional market trend, thanks to yen depreciation to upper 117 level against greenback after the Federal Reserve raised its benchmark short-term interest rate and hinted there would be more next year. The 225-issue Nikkei average rose 95.49 points, or 0.50 percent, to end at 19,250.52, marking its highest closing level since Dec. 17, 2015. The Topix index of all first-section issues finished up 8.82 points, or 0.58 percent, at 1,540.25.

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Australia Stocks fall as Fed hike rate
Dec 15,2016

Australian share market finished session with red ink on Thursday, 15 December 2016, dragged down by risk aversion selloff, with commodity-related stocks hit hard by the stronger US dollar which surged after the US Federal Reserve raised its interest rate target by a quarter point, and hinted at a brisker pace of rate hikes next year. At the closing bell, the benchmark S&P/ASX 200 index declined 46 points, or 0.82%, to 5538.60, while the broader All Ordinaries index dropped 44.70 points, or 0.79%, to close at 5595.

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U.S. stocks ended a volatile session lower
Dec 15,2016

U.S. stocks ended a volatile session lower on Wednesday, 15 December 2016 as investors grappled with the prospect of a faster pace of rate increases in 2017 than had been previously forecast. All three major indexes briefly traded higher after the announcement, but they turned lower as Yellen began her news conference.

The Dow Jones Industrial Average fell 118.5 points, or 0.6%, to 19,792.66. The S&P 500 index lost 18.44 points, or 0.8%, to trade at 2,253.28. The Nasdaq Composite Index lost 27.16 points, or 0.5%, to 5,436.67.

All 11 of the S&P 500s primary sectors ended lower, but so-called defensive names were among the weakest of the day. The utilities, real estate, and consumer-staples sectors all fell more than 1%. Energy stocks also dropped, tracking a decline in the price of crude oil. Financial stocks slumped erasing an initial move higher. Banks tend to be sensitive to rate increases due to the impact it has on their business models.

The Federal Reserve raised its key short-term rate on Wednesday, as had been universally expected, but it also forecast three rate increases in 2017, compared with the two that had been anticipated at its previous meeting in September. While the revised outlook could be taken as a positive signn++the Fed has said it would only raise rates when it deems the economy strong enough to withstand such a moven++it added an element of uncertainty to the market. In raising rates, the Fed moved its key short-term rate to a range of 0.5%-0.75% from 0.25% to 0.5%. The Fed decision marks the central banks first increase in rates since last December, which itself was the first in about a decade.

During her press conference, Fed Chair Janet Yellen was asked if fiscal policies that fail to boost productivity could prompt the Fed to be more aggressive when it comes to hiking rates, but Ms. Yellens response only acknowledged the presence of considerable uncertainty on the fiscal front.

Treasuries retreated in reaction to the rate increase while the U.S. Dollar Index jumped 1% to mark a fresh high for the year.

In the latest round of economic data, retail sales rose 0.1% in November, a slower pace of growth than had been expected. Elsewhere, the producer-price index jumped 0.4% in November, largely because of higher wholesale margins in the extremely volatile retail category.

Ahead of oils settlement on Wednesday, the U.S. Federal Reserve announced the first interest-rate increase in a year, which caused the dollar to strengthen, putting further pressure on dollar-denominated prices of crude.

Bullion prices ended higher at Comex on Wednesday, 15 December 2016 at Comex. Gold futures settled higher on Wednesday, then retreated in electronic trading as the dollar strengthened on the heels of the U.S. Federal Reserves decision to raise interest rates for the first time in 12 months.

Gold for February delivery was at $1,156.20 an ounce in electronic trading shortly after the Fed announcement, down from Wednesdays settlement of $1,163.70. Wednesdays finish marked a rebound of $4.70, or 0.4% from Tuesdays settlement, at a roughly 10-month low. March silver rose 24.4 cents, or 1.4%, to $17.221 an ounce.

Crude oil futures settled lower on Wednesday, 15 December 2016 for the first time in five sessions, pressured as a monthly report from OPEC showed that member output rose in November, fueling doubts over a recent agreement to curb production. The Organization of the Petroleum Exporting Countries also said it would need help from non-cartel producers to reduce a supply glut in the market.

January West Texas Intermediate crude fell $1.94 cents, or 3.7%, to settle at $51.04 a barrel on the New York Mercantile Exchange. February Brent crude shed $1.82, or 3.3%, to $53.90 a barrel on the ICE Futures exchange in London. Both crude grades settled Tuesday at their highest levels since July 2015.

Treasury yields shot higher after the announcement, with the yield on the U.S. two-year Treasury touching its highest level since August 2009.

Among stocks under focus, Johnson & Johnson said late Tuesday that it has dropped talks to buy Swiss drug company Actelion Pharmaceuticals because the deal price had gotten too high. French drug giant Sanofi SA is now in talks for a deal with Actelion. Shares of J&J fell 0.8%.

Investor participation was ahead of average with more than 1.2 billion shares changing hands at the NYSE floor.

Tomorrow will also be pretty busy on the economic front with weekly initial claims (consensus 256K), November CPI (consensus 0.2%), December Philadelphia Fed (consensus 9.0), December Empire Manufacturing (consensus 3.0), and Q3 Current Account Balance (consensus -$111.60 billion) all set to be released at 8:30 ET. The December NAHB Housing Market Index (consensus 63) will be reported at 10:00 ET.

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US stocks set fresh records again
Dec 14,2016

U.S. stocks set fresh records on Tuesday, 13 December 2016 with the Dow Jones Industrial Average closing at a high for the seventh session in a row as it moved within 100 points of the 20,000 milestone ahead of the Federal Reserves interest-rate decision Wednesday. With the market believing that a rate hike will be announced tomorrow for all the right economic reasons, equity indices were free to continue their climb to stratospheric heights. Both the S&P 500 and Nasdaq ended at record levels with the large-cap index hitting its 18th closing high.

The Dow climbed 114.78 points, or 0.6%, to end at 19,911.21 after touching an intraday high of 19,953.75. The S&P 500 index rose 14.76 points, or 0.7%, to close at 2,271.72, with nine of the indexs 11 sectors in positive territory. The tech-heavy Nasdaq Composite Index added 51.29 points, or 1%, to finish at 5,463.83.

Intel and Exxon Mobil contributed the most to the rise in the benchmark.

The market is pricing in a nearly 100% chance that the Federal Open Market Committee will lift key interest rates, which leaves much attention on clues for future policy decisions.

The central bank will deliver its rate announcement on Wednesday at 2 p.m. Eastern time. The bank is widely expected to raise its benchmark rate by 25 basis points.

The U.S. Dollar Index, a gauge of the greenbacks performance against a basket of six rival currencies, traded at 101.07.

U.S. stocks also benefited from an uptick in demand for risky European assets. Earlier, UniCredit said it plans to shed n++17.7 billion ($18.9 billion) in bad debt. The move, which will help to restore Italys largest lender to health, assuaged fears about Italys troubled banking sector.

Strong readings on Chinese industrial production and retail sales provided more evidence that the worlds second-largest economy steadied in November, helping to boost global risk sentiment.

In other economic news, the NFIB small-business index jumped by the largest monthly amount in more than seven years in November on optimism Trumps administration will spur an increase in business activity.

Oil prices settled modestly higher, but below $53 a barrel. The International Energy Agency lifted its demand forecasts for 2016 and commitment by members of the Organization of the Petroleum Exporting Countries to cut oil production have boosted oil prices in recent days.

Treasuries saw gains in overnight action, but the 10-yr note returned to its flat line by the close. The benchmark yield settled at 2.47% while the 2-yr yield rose two basis points to 1.17%. The long bond ended higher, pressuring its yield two basis points to 3.14%.

Todays participation was above average as more than one billion shares changed hands at the NYSE floor.

Investors received just one economic report today. Import prices excluding oil decreased 0.1% in November after declining 0.1% last month while export prices excluding agriculture also declined 0.1% after increasing 0.2% in October.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while November Retail Sales (consensus 0.3%) and November PPI (consensus 0.1%) will cross the wires at 8:30 ET. November Industrial Production (consensus -0.1%) and Capacity Utilization (consensus 75.1%) will be reported at 9:15 ET while October Business Inventories (consensus -0.1%) will be released at 10:00 ET.

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Asia Pacific Market: Stocks edge higher ahead of Fed meeting
Dec 13,2016

Asia Pacific share market ended marginally higher on Tuesday, 13 December 2016, as investors look ahead to a Federal Reserve policy meeting that is expected to see US borrowing costs increase.

The two-day Federal Open Market Committee meeting will kick off later in the global trading day, when U.S. central bankers will decide whether to raise interest rates. The US central bank is widely expected to raise interest rates on Wednesday for the first time this year and only the second time since the global financial crisis.

Rate rises by the Federal Reserve typically spook emerging markets, as investors tend to pull out their money and repatriate it to the U.S. in search of higher yields.

Among Asian bourses

Australia Stocks muted ahead of Fed meeting

Australian share market closed slight down, as investors elected to book recent profit on caution ahead of a two-day US Federal Reserve meeting, in which the central bank is expected to raise its reference interest rate and may also give markets a glimpse of its plans for the coming year. Investors will also be looking to for Chinas industrial output data for November due later in the day. Commodity firms and financials made up more than two-thirds of the losses on the index, offsetting gains from real estate and healthcare shares. At the closing bell, the benchmark S&P/ASX 200 index declined 17.80 points, or 0.32%, to 5545, while the broader All Ordinaries index dropped 18.40 points, or 0.33%, to close at 5600.70.

Mining stocks were down, pressured by falls in commodity prices. Rio Tinto lost 2.5% to A$61.25 and BHP Billiton 0.8% to A$26.12. Fortescue lost 6% to A$6.43.

Financial stocks slipped, with the Big Four banks leading losses on tracking their US peers and ending a five-session streak of gains. Among major banks, Westpac declined 1.2% to A$31.92, Commonwealth Bank of Australia 0.7% to A$80.38, National Australia Bank 0.3% to A$29.61, and Australia & New Zealand Banking Group 0.1% to A$29.78.

Defensive stocks including healthcare and consumers counters saw gains, with retail giants Wesfarmers and Woolworths adding 1.3% and 0.4%, respectively. Medical device marker ResMed Inc added 0.6%, while CSL climbed 2.3%.

Energy stocks also gained after oil prices hit an 18-month high after Opec and some non-members agreed to cut output. Woodside Petroleum rose 0.5% to A$31.65, Santos added 0.4% to A$4.54 and Oil Search jumped 0.8% to A$7.21.

Nikkei hits fresh one-year high

The Japan share market closed at fresh one-year high after erasing early losses, thanks to investors strong buying appetite on bets that the Federal Reserve will raise rates this week and provide a steer on future monetary policy in the wake of Republican Donald Trumps election win last month. The 225-issue Nikkei average rose 95.49 points, or 0.50 percent, to end at 19,250.52, marking its highest closing level since Dec. 17, 2015. The Topix index of all first-section issues finished up 8.82 points, or 0.58 percent, at 1,540.25.

Higher oil prices helped lift oil distributors JX Holdings, Idemitsu and Showa Shell. Kao attracted buying as investors welcomed the daily goods makers medium-term business plan released on Monday. NTT was also buoyant a day after announcing a plan to buy back own shares. Other major winners included drug maker Astellas, power firm Tepco Holdings and clothing store chain operator Fast Retailing.

Japanese electronics giants Sony, Panasonic and Sanyo were fined a total of 166 million euros ($176 million) by EU regulators on Monday for colluding on prices for rechargeable batteries. However, Sony and Panasonic ended up as they shrugged off the fine.

By contrast, financial issues that had led the market rally, such as mega-bank groups Mitsubishi UFJ, Mizuho and Sumitomo Mitsui, insurer Dai-ichi Life and brokerage firm Nomura, met with profit-taking after their U.S. peers fell in New York trading overnight. Brewer Asahi Group plunged following news reports that it agreed to pay nearly $8 billion for AB InBevs beer operations in five Eastern European countries. Major electronics parts maker Nidec fell after US-based research firm Muddy Waters said it was short-selling the firm.

China Market ekes out gain

Mainland China stock market closed marginally higher after recouping initial losses, thanks to better-than expected November retail sales and factory output data which encouraged bargain-hunting after the previous sessions slump. Most sectors rallied, led by consumer and energy shares, while banks and infrastructure stocks lagged. The Shanghai Composite Index rose 0.07% to 3,155.04, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.33% to 1,975.88. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.03% to close at 1,985.04 points.

On Monday, China stocks suffered their biggest drop since June to hit a one-month low. Investors were rattled by fresh regulatory curbs on insurers stock investments, and worries about incoming US president Donald Trumps China policy. The selloff continued early Tuesday morning, but sentiment improved after the release of stronger-than-expected factory output and retail sales figures.

Chinas retail sales growth picked up to 10.8 percent year-on-year in November, the highest since December 2015, the National Bureau of Statistics said on Tuesday. In the same month, industrial output rose by 6.2 percent year-on-year, up from 6.1 percent in October. Urban fixed-asset investment growth was 8.3 percent in the first 11 months, unchanged from the January-October period, while private investment growth increased by 3.1 percent in the first 11 months, up from 2.9 percent in the first 10 months.

Hong Kong Market closes marginally higher

The Hong Kong stock market finished firmer, after the Dow closed at record highs for six straight days overnight. But gains were limited on caution ahead of the Federal Reserve two-day policy board meeting which concludes on Wednesday, where interest rates will likely increase for the second time in a decade. The Hang Seng Index ended up 0.06%, or 13.68 points, to 22,446.70, while the Hang Seng China Enterprises index rose 0.21%, or 20.63 points, to 9,719.94.

Shares of energy companies continued upward rally after crude oil prices rose to 18-month high on Monday. PetroChina (00857) soared 5.3% to HK$5.76. Sinopec (00386) edged up 0.9% to HK$5.662. The company plans a 50% pipeline stake for RMB22.8bn. The buyers include China Life (02628), which inched up 0.5% to HK$21.5.

Property counters were softer ahead of the US FOMCs rate meetings. Link REIT (00823) slipped 1.8% to HK$52.65. Sino Land (00083) declined 1.2% to HK$11.92.

HSBC (00005) slipped 1% to HK$63.9. The global bank yesterday bought back GBP52.8 million worth of shares in London market. It was the largest repurchase deal since it announced the move. The bank also spent 90% of its repurchase fund.

Utilities players were mixed after reports two HK power companies reported their tariff adjustment proposals to the Legislative Council. Insiders said HK Electric (02638) plans to cut tariff by 1% while CLP (00002) may freeze its tariff. HK Electric inched up 0.2% to HK$6.75. CLP softened 0.4% to HK$73.45.

Malaysian Markets Ends Higher

Stock market in Malaysia finished higher, but gains were modest as investors were jittery and cautious in the lead-up to the two-day US Federal Open Market Committee (FOMC) meeting, beginning tomorrow, where US bankers will decide whether to raise interest rates. The market was closed on Monday for the Maulidur Rasul holiday. At the local close, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished at 1,645.28, up 3.86 points, from 1,641.42 on Friday. After opening 10.03 points higher at 1,651.45, the index moved between 1,641.93 and 1,651.45 throughout the day. The market traded within a range of 9.52 points between an intra-day high of 1651.45 and a low of 1641.93 during the session.

The Malaysian ringgit closed easier against the US dollar today on lack of buying interest as investors braced for the outcome of the US Federal Reserve policy meeting on increasing interest rates. At the local close, the ringgit was traded at 4.4340/4390 against the US dollar from 4.4215/4255 on Friday.

Indian Market ends with decent gains

Key benchmark indices registered modest gains. The barometer index, the S&P BSE Sensex, rose 182.58 points or 0.69% to settle at 26,697.82. The Nifty 50 index rose 51 points or 0.62% to settle at 8,221.80. Both the Sensex and the Nifty almost hovered in positive terrain throughout the trading session after initial volatility. The two key indices extended intraday gains towards the later part of the trading session.

Axis Bank rose 1.74% after the bank announced that it proposes to raise funds by issuing non-convertible debentures aggregating to Rs 3500 crore. The board of directors of the bank will consider the proposal to issue and allot the above securities through circular resolution. The announcement was made after market hours yesterday, 12 December 2016.

Yes Bank rose 1.17%. The bank during market hours today, 13 December 2016 said it has partnered with Grofers, the on-demand e-commerce mobile and web application. With this partnership, Grofers customers will be able to get currency notes delivered to their doorstep along with their grocery order for up to Rs 2,000 through Yes Banks PoS machines.

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Hong Kong Market closes marginally higher
Dec 13,2016

The Hong Kong stock market finished firmer on Tuesday, 13 December 2016, after the Dow closed at record highs for six straight days overnight. But gains were limited on caution ahead of the Federal Reserve two-day policy board meeting which concludes on Wednesday, where interest rates will likely increase for the second time in a decade. The Hang Seng Index ended up 0.06%, or 13.68 points, to 22,446.70, while the Hang Seng China Enterprises index rose 0.21%, or 20.63 points, to 9,719.94.

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China Market ekes out gain
Dec 13,2016

Mainland China stock market closed marginally higher after recouping initial losses on Tuesday, 13 December 2016, thanks to better-than expected November retail sales and factory output data which encouraged bargain-hunting after the previous sessions slump. Most sectors rallied, led by consumer and energy shares, while banks and infrastructure stocks lagged. The Shanghai Composite Index rose 0.07% to 3,155.04, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.33% to 1,975.88. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.03% to close at 1,985.04 points.

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Australia Stocks muted ahead of Fed meeting
Dec 13,2016

Australian share market closed slight down on Tuesday, 13 December 2016, as investors elected to book recent profit on caution ahead of a two-day US Federal Reserve meeting, in which the central bank is expected to raise its reference interest rate and may also give markets a glimpse of its plans for the coming year. Investors will also be looking to for Chinas industrial output data for November due later in the day. Commodity firms and financials made up more than two-thirds of the losses on the index, offsetting gains from real estate and healthcare shares. At the closing bell, the benchmark S&P/ASX 200 index declined 17.80 points, or 0.32%, to 5545, while the broader All Ordinaries index dropped 18.40 points, or 0.33%, to close at 5600.70.

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