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Asia Pacific Market: Stocks mixed ahead of BoE policy decision
Jul 14,2016

Asia Pacific share market closed mixed on Thursday, 14 July 2016, as investors await monetary policy decision by the Bank of England later today. Investors largely remained sidelined ahead of a closely-watched policy decision by the BOE in the wake of the Brexit vote that has increased chances of an economic slowdown in the U.K. and the eurozone.

European Central Bank is expected to keep policy on hold at its meeting next week, meanwhile Japanese Prime Minister Shinzo Abe has called for a fiscal stimulus, expected to reach about 2% of GDP, following his recent election victory.

The Bank of England kept interest rates unchanged today, 14 July 2016, wrong-footing many investors who had expected the first cut in more than seven years as Britains economy reels from last months Brexit vote. The Bank said it was likely to deliver stimulus in three weeks time, possibly as a package of measures once it has assessed how the 23 June referendum decision by UK to leave the European Union has affected the economy. In the absence of a further worsening in the trade-off between supporting growth and returning inflation to target on a sustainable basis, most members of the Committee expect monetary policy to be loosened in August. UKs FTSE 100 reversed gains after BOEs decision. The BOEs policy decision was announced after the close of Indian stock markets. In the UK, Theresa May became the countrys prime minister after former leader David Cameron tendered his resignation to the Queen. Earlier, most Asian markets rose ahead of Bank of Englands interest rate decision.

Trading in US stock index futures indicated gains for US stocks at the opening bell. Trading in US index futures indicated that the Dow Jones Industrial Average could rise 139 points at the opening bell. The S&P 500 and Dow Jones Industrial Average scored meager gains yesterday, 13 July 2016 but enough to extend their run into record territory and advance for a fourth session in a row. However, the tech-heavy Nasdaq Composite index took a breather following a five-session climb to end lower. Stocks got a slight bump from the US Feds beige book report released yesterday, 13 July 2016 which indicated that the US economy is holding steady although consumption may be softening. The beige book is an anecdotal survey of economic conditions in the US compiled by the Feds regional banks.

Among Asian bourses

Australia Market extends gain to sixth day

Australian share market closed higher sixth consecutive session as investor appetite for bank stocks were more than offset weakness in resources and energy stocks. At close of trade, the benchmark S&P/ASX 200 index advanced 23.10 points, or 0.43%, to 5411.60. The broader All Ordinaries climbed up 21.50 points, or 0.39%, to 5491.80.

Shares of materials and resources closed mostly down, dragged down by falls in commodities prices. BHP Billiton declined 1.2% to A$20.34, while main rival Rio Tinto was down 1.1% to A$50.20. Iron ore miner Fortescue Metals Group dropped 4.1% to A$4.22.

Banks and financial stocks added strength. Commonwealth Bank of Australia added 1% to A$75.61, Westpac Banking Corp 1% to A$29.80, ANZ Banking Group 1% to A$24.75, and National Australia Bank 1.3% to A$25.67.

Treasury Wine Estate was up 3.8% to A$9.57 after JPMorgan analysts gave the company a positive review of sales into China.

Japan Market extends gain as weak yen lifts risk appetite

The Japan share market closed stronger for fourth straight session, on the back of yen softness against greenback and growing hopes for more monetary stimulus from Japanese authorities. Sentiments also boosted up after a key adviser to Prime Minister Shinzo Abe said Ben S. Bernanke had floated the idea of perpetual bonds to stimulate Japans economy. But, the rising momentum has abated somewhat, as the markets focus shifted to the Bank of Englands policy decision later in the day. Total 29 out of 33 TSE sectors advanced, with Textiles & Apparels, Rubber Products, Nonferrous Metals, Construction, and Oil & Coal Products issues being major gainer. The 225-issue Nikkei Stock Average inclined 154.46 points, or 0.95%, to 16,385.89. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 10.90 points, or 0.84%, higher at 1,311.16.

Shares of Nintendo Co. rose 16% amid the Pokemon Go craze and hopes for improvement in its mobile game division, despite a lack of clarity over how much the popularity of the smartphone game will lift Nintendos earnings going forward. DeNA Co. added 2.6% after Credit Suisse Group AG raised its rating on the game maker.

China Stocks drop after disappointing trade data

Mainland China stock market closed down, halting a three-day advance, as investors sold metals, mining and materials shares following weak trade data. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.18%, to 3273.18, while the Shanghai Composite Index fell 0.22%, to 3054.02 points.

Shares of materials and resources declined after trade data signaled sluggish consumer demand in the worlds second-largest economy. Jiangxi Copper and and China Molybdenum Co. fell 2.3%. Sinopec Oilfield Service Corp. sank 2.8% after saying Tuesday that expects a wider net loss for the first half. Shaanxi Coal Industry Co. dropped 2.3%.

Hong Kong Stocks climbs 1.12%

The Hong Kong stock market closed up in quite yet volatile trade. The benchmark index opened down 24 points at 21,297, and moved within narrow band in the morning session. In afternoon trade, when the European markets opened higher, HK stocks saw its gains widen and recovered the so-called bear-bull line (now at 21,415). The benchmark Hang Seng Index advanced 238.69 points, or 1.12%, to 212561.06 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 101.04 points, or 1.13%, to 9010.10. Turnover decreased to HK$62.3 billion from HK$69 billion on Wednesday.

Sino Land (00083) gained 2% to HK$13.26 after it won bid for a plot of land at HK$1.62 billion. It became the best performing blue chip today.

Kunlun Energy (00135) plan to issue convertible bond for US$496 million to fund its acquisition of Kunlun Gas. The stock pounded 5% to HK$5.86, becoming the worst blue chip loser.

Lenovo (00992) ascended 2% to HK$4.72 on news that its Chariman Yuanqing Yang added 20 million shares in the company on Thursday and Friday.

Sensex gains for fourth straight session

Key benchmark indices logged decent gains in what was a volatile session of trade as upbeat European stocks boosted sentiment on the domestic bourses. The barometer index, the S&P BSE Sensex rose 126.93 points or 0.46% to settle at 27,942.11. The Nifty 50 index gained 45.50 points or 0.53% to settle at 8,565.

Shares of IT major Tata Consultancy Services (TCS) gained 1.16%. The companys consolidated net profit as per International Financial Reporting Standards (IFRS) fell 0.4% to Rs 6317 crore on 3% rise in revenue to Rs 29305 crore in Q1 June 2016 over Q4 March 2016. Operating income fell 0.9% to Rs 7347 crore in Q1 June 2016 over Q4 March 2016. The result was announced after market hours today, 14 July 2016. TCS declared an interim dividend of Rs 6.50 per share for the year ending 31 March 2017 (FY 2017).

Maruti Suzuki India rose 1.44% as the Japanese yen weakened against the dollar. A weak yen lifts Marutis operating profit margin. Maruti pays royalty to its Japanese parent Suzuki Motor Corporation in yen terms for some of its earlier models. Maruti has reportedly started paying royalty to its Japanese parent in rupee terms on all new models from 1 April 2016. Maruti also has an exposure to the yen to the extent it imports raw materials from Japan.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 0.2% to 7080.33. South Koreas KOSPI index gained 0.2% to 2008.77. Taiwans Taiex index climbed 0.1% to 8866.36. Malaysias KLCI fell 0.3% to 1654.78. Indonesias Jakarta Composite index lost 1% to 5083.54. Singapores Straits Times index dropped 0.1% to 2906.92.

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Hong Kong Stocks climbs 1.12%
Jul 14,2016

The Hong Kong stock market closed up in quite yet volatile trade on Thursday, 14 July 2016. The benchmark index opened down 24 points at 21,297, and moved within narrow band in the morning session. In afternoon trade, when the European markets opened higher, HK stocks saw its gains widen and recovered the so-called bear-bull line (now at 21,415). The benchmark Hang Seng Index advanced 238.69 points, or 1.12%, to 212561.06 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 101.04 points, or 1.13%, to 9010.10. Turnover decreased to HK$62.3 billion from HK$69 billion on Wednesday. The benchmark has risen for four consecutive days, with total gains of 997 points.

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China Stocks drop after disappointing trade data
Jul 14,2016

Mainland China stock market closed down on Thursday, 14 July 2016, halting a three-day advance, as investors sold metals, mining and materials shares following weak trade data. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.18%, to 3273.18, while the Shanghai Composite Index fell 0.22%, to 3054.02 points.

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Japan Market extends gain as weak yen lifts risk appetite
Jul 14,2016

The Japan share market closed stronger for fourth straight session on Thursday, 14 July 2016, on the back of yen softness against greenback and growing hopes for more monetary stimulus from Japanese authorities. Sentiments also boosted up after a key adviser to Prime Minister Shinzo Abe said Ben S. Bernanke had floated the idea of perpetual bonds to stimulate Japans economy. But, the rising momentum has abated somewhat, as the markets focus shifted to the Bank of Englands policy decision later in the day. Total 29 out of 33 TSE sectors advanced, with Textiles & Apparels, Rubber Products, Nonferrous Metals, Construction, and Oil & Coal Products issues being major gainer. The 225-issue Nikkei Stock Average inclined 154.46 points, or 0.95%, to 16,385.89. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 10.90 points, or 0.84%, higher at 1,311.16.

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Australia Market extends gain to sixth day
Jul 14,2016

Australian share market closed higher sixth consecutive session on Thursday, 14 July 2016 as investor appetite for bank stocks were more than offset weakness in resources and energy stocks. At close of trade, the benchmark S&P/ASX 200 index advanced 23.10 points, or 0.43%, to 5411.60. The broader All Ordinaries climbed up 21.50 points, or 0.39%, to 5491.80. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 607 to 432 and 334 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.66% to 16.062 a new 1-month low.

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Asia Pacific market: Stocks climb on Japan election result, US jobs data
Jul 11,2016

Asia Pacific share market advanced on Monday, 11 July 2016, as risk appetite buying bolstered by election results in Japan and Australia and last weeks strong monthly U.S. jobs report which eased concerns over the health of the worlds largest economy

Abes Liberal Democratic Party won 56 of the 121 seats in contention, public broadcaster NHK said, while its junior coalition partner Komeito had 14. Alongside others who support Abes view on constitutional revision, plus uncontested seats, the prime minister is set for a super majority. By strengthening Abes hand, the election increases the likelihood that the government will introduce fiscal stimulus while expanding its program of asset purchases to keep interest rates low. The Nikkei newspaper reported that Abe would on Tuesday order the compilation of a stimulus package, which one of his advisers has said should be 20 trillion yen ($196 billion) in the current fiscal year.

Prime Minister Malcolm Turnbull declared victory in Australias election, though it remains unclear if his Liberal-National coalition has enough seats to form a majority government more than a week after voting day.

The US employment report on Friday, which showed the economy added 287,000 jobs last month, was more than forecast and acted as an immediate impetus for investors starting the week with a greater appetite for risk.

Among Asian bourses

Australia Market surges 2%

Australian share market finished the session higher sharply higher on the back of bargain buying across the board, with material and resources and financial blue chip shares leading gains. At close of trade, the benchmark S&P/ASX 200 index advanced 106.60 points, or 2.04%, to 5337.10. The broader All Ordinaries climbed up 101.90 points, or 1.92%, to 5471.50. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 751 to 350 and 310 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.70% to 17.402.

Shares of materials and resources enjoyed support as risk appetite returned to the sector following Friday nights solid jobs data, which boosted hopes the global recovery remained on track. BHP Billiton inclined 2.9% to A$19.60, meanwhile main rival Rio Tinto was up 2.5% to A$49.52 and iron ore miner Fortescue Metals Group grew 5.4% to A$4.07.

Banks and financial stocks advanced on bargain hunting after a disappointing run last week. Commonwealth Bank of Australia added 2.3% to A$74.10, Westpac Banking Corp 3.3% to A$29.19, ANZ Banking Group 3.5% to A$23.92, and National Australia Bank 2.3% to A$24.99.

Shares in Primary Health Care were down 2.6% to A$3.72 after the company warned that it will miss its annual profit guidance, blaming a string of writedowns within the medical centres business. The company expects to book underlying profit after tax of A$104 million for the year ended June 30. Previously, Primary had expected to meet the bottom end of its forecast range of A$110 million to A$115 million. Of the write-offs, A$66 million will be booked in fiscal 2016 and A$32 million in prior periods.

Japan Market surges as election point to further Abenomics

The Japan share market inclined, after Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending. Abes Liberal Democratic Party scored a big win in Upper House elections held over the weekend. The election was said to be a referendum on Abes economic stimulus plan dubbed Abenomics, which uses the three arrows of fiscal stimulus, monetary easing and structural reforms. Many observers are emphasizing that the weekend election in Japan has given a super-majority to those parties that want to change the constitution, relaxing the restraints on the military. All 33 TSE sectors advanced, with Iron & Steel, Securities & Commodities Futures, Glass & Ceramics Products, Insurance, and Nonferrous Metals issues being major gainer. The 225-issue Nikkei Stock Average spurted 601.84 points, or 3.98%, to 15708.82. The broader Topix index of all First Section issues on the Tokyo Stock Exchange surged 45.91 points, or 3.79%, to 1255.79. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1968 to 62 and 19 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.88% to 29.50.

Construction and real-estate stocks closed sharp higher on hopes government likely expand the size of its fiscal stimulus. Construction firm Taisei Corp. rose 6.4% to 863 yen. Real-estate developer Mitsui Fudosan Co. gained 6% to 2,161 yen.

Nintendo Co. surged 25%, after its new mobile-game app, Pokemon Go, climbed to the top of the free-to-use charts for Apple Inc. in the U.S. and Australia.

Kyushu Electric Power Co. lost 7.5% after the election victory of a new governor in Kagoshima who campaigned on temporarily halting the running of nuclear reactors for security checks. Kyushu Electrics Sendai nuclear power plant is located in Kagoshima.

China Stocks rise on stimulus optimism

Mainland China stock market closed stronger, as muted inflation data released over the weekend reinforcing expectations the government will announce further stimulus in the second half of 2016. Consumer prices in June grew .9% from a year earlier, down from the pace in May, while producer prices extended their decline (down 2.6%), reinforcing economists views more support was needed to help the economy. Gains were broad based with manufacturing and mining shares all rising, but finance shares lagged on news that the banking regulator was investigating risks in the bill-financing business of some commercial banks. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.35%, to 3203.33, while the Shanghai Composite Index grew 0.23%, to 2994.92 points.

Shares of banks and financials declined on news of a rise in non-performing loans at the countrys banks. Outstanding non-performing loans (NPLs) in Chinas vast banking sector exceeded the two trillion yuan ($299.21 billion) mark at the end of May, a senior banking regulator official said on Thursday.

Hong Kong Stocks climbs 1.6%

The Hong Kong stock market closed up, coinciding with an upbeat session on mainland equity markets after key US indexes surged to records last week. The benchmark Hang Seng Index advanced 427.65 points, or 1.61%, to 26933.30 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 168.21 points, or 1.97%, to 8703. Turnover increased to HK$60.3 billion from HK$47.2 billion on Friday.

Dairy product producers were chased on hopes of upcoming launch of the Shenzhen-Hong Kong Connect program. Mengniu Dairy (02319) advanced 2% to HK$13.36. Biostime (01112) surged 9% to HK$27.7.

Property counters also attracted buying orders. SHKP (00016) rose 2% to HK$100.1. Henderson Land (00012) also gained 1% to HK$43.55. MTRC (00066) rose 2% to HK$40.4. Tencent (00700) added 2% to HK$180 as both Citi Research and Daiwa Research are bullish for its outlook.

China Comm Con (01800) jumped 4% to HK$8.37. CRRC (01766) gained 1% to HK$7.02. China Railway (00390) rose 1% to HK$5.71.

Aviation counters were higher on report that international passenger traffic increased 11% in the first half of 2016. Air China (00753) jumped 4% to HK$5.7. Cathay Pacific (00293) gained 2% to HK$11.5.

Sensex, Nifty hit almost 11-month closing high

Banking, auto sector stocks and index heavyweights HDFC, ITC and Infosys led rally for the two key benchmark indices triggered by firm global stocks. The Sensex jumped 499.79 points or 1.84% to settle at 27,626.69. The Nifty gained 144.70 points or 1.74% to settle at 8,467.90. All the nineteen sectoral indices on BSE registered gains.

IndusInd Bank slipped in volatile trade after announcing Q1 June 2016 results. The stock fell 0.11% to Rs 1,125.50. IndusInd Banks gross non-performing assets (NPA) stood at Rs 860.64 crore as on 30 June 2016 compared with Rs 776.82 crore as on 31 March 2016 and Rs 570.12 crore as on 30 June 2015. The ratio of gross NPA to gross advances stood at 0.91% as on 30 June 2016 compared with 0.87% as on 31 March 2016 and 0.79% as on 30 June 2015. The ratio of net NPA to net advances stood at 0.38% as on 30 June 2016 as against 0.36% as on 31 March 2016 and 0.31% as on 30 June 2015. The banks provisions and contingencies rose 86.87% to Rs 230.47 crore in Q1 June 2016 over Q1 June 2015.

Punjab National Bank jumped 9.27% after the Reserve Bank of India (RBI) after trading hours on Friday, 8 July 2016, notified that the aggregate foreign shareholding in the state-run bank has gone below the prescribed threshold caution limit stipulated under the extant foreign direct investment (FDI) policy. Hence, the restrictions placed on the purchase of shares of PNB are withdrawn with immediate effect.

State-run coal-mining giant Coal India rose 2.84% ahead of the board meeting today, 11 July 2016 to consider the proposal for buyback of equity shares.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 0.9% to 7062.45. South Koreas KOSPI index gained 1.3% to 1988.54. Taiwans Taiex index climbed 1.7% to 8786.47. Malaysias KLCI grew 0.6% to 1653.87. Indonesias Jakarta Composite index gained 2% to 5069. Singapores Straits Times index added 1% to 2876.14.

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Hong Kong Stocks climbs 1.6%
Jul 11,2016

The Hong Kong stock market closed up on Monday, 11 July 2016, coinciding with an upbeat session on mainland equity markets after key US indexes surged to records last week. The benchmark Hang Seng Index advanced 427.65 points, or 1.61%, to 26933.30 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 168.21 points, or 1.97%, to 8703. Turnover increased to HK$60.3 billion from HK$47.2 billion on Friday.

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China Stocks rise on stimulus optimism
Jul 11,2016

Mainland China stock market closed stronger on Monday, 11 July 2016, as muted inflation data released over the weekend reinforcing expectations the government will announce further stimulus in the second half of 2016. Consumer prices in June grew .9 percent from a year earlier, down from the pace in May, while producer prices extended their decline (down 2.6 percent), reinforcing economists views more support was needed to help the economy. Gains were broad based with manufacturing and mining shares all rising, but finance shares lagged on news that the banking regulator was investigating risks in the bill-financing business of some commercial banks. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.35%, to 3203.33, while the Shanghai Composite Index grew 0.23%, to 2994.92 points.

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Japan Market surges as election point to further Abenomics
Jul 11,2016

The Japan share market inclined on Monday, 11 July 2016, after Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending. Abes Liberal Democratic Party scored a big win in Upper House elections held over the weekend. The election was said to be a referendum on Abes economic stimulus plan dubbed Abenomics, which uses the three arrows of fiscal stimulus, monetary easing and structural reforms. Many observers are emphasizing that the weekend election in Japan has given a super-majority to those parties that want to change the constitution, relaxing the restraints on the military. All 33 TSE sectors advanced, with Iron & Steel, Securities & Commodities Futures, Glass & Ceramics Products, Insurance, and Nonferrous Metals issues being major gainer. The 225-issue Nikkei Stock Average spurted 601.84 points, or 3.98%, to 15708.82. The broader Topix index of all First Section issues on the Tokyo Stock Exchange surged 45.91 points, or 3.79%, to 1255.79. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1968 to 62 and 19 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.88% to 29.50.

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Australia Market surges 2%
Jul 11,2016

Australian share market finished the session higher sharply higher on Monday, 11 July 2016, on the back of bargain buying across the board, with material and resources and financial blue chip shares leading gains. At close of trade, the benchmark S&P/ASX 200 index advanced 106.60 points, or 2.04%, to 5337.10. The broader All Ordinaries climbed up 101.90 points, or 1.92%, to 5471.50. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 751 to 350 and 310 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.70% to 17.402.

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Asia Pacific Market: Risk Aversion Stays as Focus Turns to FOMC Minutes
Jul 06,2016

Asia pacific Market declined on Wednesday, 06 July 2016, as concerns over global economic growth sapped confidence for risk assets. Renewed Brexit jitters also sent the British pound tumbling to a fresh 31-year low.

Investors flocked to safe-haven assets, such as U.S. Treasurys, the yen and the greenback, after three U.K. real estate funds halted selling and the Bank of England relaxed regulations to encourage banks to lend out more money.

Markets are turning focus to FOMC minutes. The FOMC minutes to be released later today are of the meeting just before Brexit referendum. A major focus would be on how policymakers were concerned with the weak May non-farm payroll report released in early June. Also, the minutes might reveal the discussions on the rate path and how confident are policymakers that Fed is still on course for two hikes this year.

Yesterday, San Francisco Fed John Williams downplayed the impact of Brexit and said that its just a relatively modest risk to the US outlook. He maintained his view that unemployment will drop to 4.5% this year and inflation will continue to move up. And in Williams view, Fed is still on course to hike interest rate if his growth and inflation expectations are met. And he warned that being cautious forever would just lead us to need to raise rates much more aggressively in the future.

On the other hand, New York Fed president William Dudley said that if you strip out the energy sector, inflation is still a little below what we would like... so that allows us to be patient in terms of letting the economy run with accommodative monetary policy in place. And, with uncertainties about the outlook and inflation being lower than desired, it allows us to be a little more patient. FOMC will release June meeting minutes later today and would reveal more about policymakers view on rate hikes.

Gold reached its highest level in more than two years as investors risk off sentiment sent them pouring into safe haven assets. The precious metal jumped as much as 1 per cent to $US1370.62 an ounce, the highest level since March 2014. Continued political turmoil in the United Kingdom and the possibility of Brexit marring global growth plans weighed on investors minds. Silver also surged as much as 2.4 per cent to $US20.41 an ounce.

Crude tumbled to a one-week-low as the US dollar continued to strengthen and markets digest ample stockpiles threatening the rebalancing of the oil market. Crude oil has soared more than 80 per cent since its 12-year lows in February, thanks to supply disruptions and falling US output. Most recently, Nigeria has increased its supply output, despite continued militant attacks on its pipelines.

Among Asian bourses

Australia Market extends losses

Australian share market declined on Wednesday, 06 July 2016, on the back of yesterdays weaker trade balance figures and domestic political uncertainty. At close of trade, the benchmark S&P/ASX 200 index declined 30.50 points, or 0.58%, to 5197.50. The broader All Ordinaries shrank 28.10 points, or 0.53%, to 5284.70. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 582 to 451 and 293 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 1.72% to 19.232.

Shares of banks and financial companies declined for second straight day on signs that lenders will need to further increase their capital buffers after the Australian Prudential Regulation Authority told lenders that they will need to increase their capital ratios further in the wake of shifting international requirements. Commonwealth Bank of Australia dropped 0.8% to A$71.97, Westpac Banking Corp 1.2% to A$28.20. ANZ Banking Group 1.9% to A$22.96, and National Australia Bank 0.6% to A$24.54.

The energy and resources sector shares both tracked volatility in iron ore and oil, with Woodside losing 0.6% to A$26.33 and Oil Search falling 1.2% to A$6.82. BHP Billiton declined 3.8% to A$18.71, meanwhile main rival Rio Tinto was down 2% to A$46.81 and iron ore miner Fortescue Metals Group shed 1% to A$3.79.

Japan Market dips 1.85% on stronger yen

The Japan share market declined for second straight session on Wednesday, 06 July 2016, as a fresh bout of anxiety over Brexit risks and yen strength against greenback rattled investors. Meanwhile selloff pressure mounted on caution ahead of important U.S. economic indicators scheduled to be released later this week, including June jobs data due out Friday, as well as the outcome of Japans upper house election on Sunday. Total 29 out of 33 TSE sectors declined, with Financial Business, Rubber Products, Securities & Commodities Futures, Iron & Steel, Real Estate, Nonferrous Metals, and Banks issues being major losers while Fishery, Agriculture & Forestry, Pulp & Paper, and Foods issues were notable gainers. The 225-issue Nikkei Stock Average dropped 290.34 points, or 1.85%, to 15378.99. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 22.44 points, or 1.79%, to 1234.20.

Shares of exports tumbled on concern strong yen hurts the competitiveness of Japanese exports and chips away at the value of exporters repatriated income. The yen strengthened as much as 0.8 per cent to ‎100.94 yen per dollar, its strongest level since June 24 in the aftermath of the Brexit vote. Subaru automaker Fuji Heavy Industries, which relies on North America for 60% of sales, lost 4.4%. Air-conditioner maker Daikin Industries lost 2.9% to 7385 yen. Fanuc Corp dipped 2.8%, Sony Corp 0.2%, Canon Inc 2%, and Panasonic Corp 3.2%. Automaker Toyota Motor Corp dropped 1.7%, Nissan Motor Co 2% and Mazda Motor Corp. 6.1%.

Shares of banks declined after a warning from the European Central Bank that Italys number-three Banca Monte dei Paschi di Siena, the worlds oldest bank, had dangerously high levels of bad debt. Japanese banking giant Mitsubishi UFJ Financial Group and rival Sumitomo Mitsui Financial Group tumbled 3.6% and 2.4%, respectively.

China Stocks end higher

Mainland China stock market closed higher on Wednesday, 06 July 2016, after wavering between positive and negative territory throughout the session. The gain was credited to the Peoples Bank of China statement that it would continue to implement a prudent monetary policy and reasonable growth in credit and social financing. Total 7 out of 10 SSE sectoral indices advanced, with materials issue being top gainer, followed by consumer staples and healthcare issues being top gainers, while industrials and financials issues were notable decliners. The CSI300 index of the largest listed companies in Shanghai and Shenzhen grew 0.29%, to 3216.80, while the Shanghai Composite Index rose 0.36%, to 3017.29 points.

The Chinas yuan fell to its lowest against the dollar since November 2010 on Wednesday, extending its slide to a fifth straight session, after Chinas central bank sharply weakened its official guidance rate as the dollar surged. Chinas central bank on Wednesday set its yuan/dollar midpoint rate at 6.6857 prior to the market opening after the yuan had tumbled in late trade on Tuesday. Wednesdays midpoint weakened 0.4% from the previous days fix of 6.6594 per dollar.

Hong Kong Stocks sink 1.23%

The Hong Kong stock market closed down on Tuesday, 05 July 2016, as investors fled riskier assets on following the 108-point slide of the Dow overnight and the break below 10-mark of the pound against HKD amid worries over the fallout from Britains shock decision to leave the European Union. The benchmark Hang Seng Index dropped 255.43 points, or 1.23%, to 20495.29 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 140.17 points, or 1.62%, to 8503.14. Turnover increased to HK$60.7 billion from HK$53.6 billion on Tuesday.

The pound has set new 31-year low against US dollar at 1.28 before recovering. HSBC (00005) and Standard Chartered (02888) dipped 1.2% and 1.5% to HK$46.8 and HK$56.85.

Oil prices tumbled nearly 5% overnight, dragging down oil majors. Sinopec (00386) and PetroChina (00857) declined 2.4% and 1.7% to HK$5.39 and HK$5.14. But aviation counters benefited from lower fuel costs. Cathay Pacific (00293) edged up 0.4% to HK$11.38. China Eastern Airlines (00670) put on 1.8% to HK$4.05.

Chinese banks followed the market lower even though it is expected that Chinas new loan may grew by Rmb1 trillion. CCB (00939) fell 1.6% to HK$5.03. ICBC (01398) softened 0.5% to HK$4.18.

Gold price have risen for five consecutive days on risk-aversion demand. Zhaojin Mining (01818) surged 8.4to HK$9.17. Zijing Mining (02899) jumped 4% to HK$2.81.

Wharf (00004) said it has received a number of proposals regarding the acquisition of stake in i-CABLE (01097). Wharf fell 1.3% to HK$46.6, while i-CABLE soared 28.6% to HK$0.9.

Elsewhere in the Asia Pacific region: New Zealands NZX50 rose 0.1% to 6977.23. South Koreas KOSPI index declined 1.9% to 1953.12. Taiwans Taiex index slipped 1.6% to 8575.75. Markets in Indonesia, India, Singapore, the Philippines and Malaysia are closed Wednesday for holidays.

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Hong Kong Stocks sink 1.23%
Jul 06,2016

The Hong Kong stock market closed down on Tuesday, 05 July 2016, as investors fled riskier assets on following the 108-point slide of the Dow overnight and the break below 10-mark of the pound against HKD amid worries over the fallout from Britains shock decision to leave the European Union. The benchmark Hang Seng Index dropped 255.43 points, or 1.23%, to 20495.29 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 140.17 points, or 1.62%, to 8503.14. Turnover increased to HK$60.7 billion from HK$53.6 billion on Tuesday.

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Japan Market dips 1.85% on stronger yen
Jul 06,2016

The Japan share market declined for second straight session on Wednesday, 06 July 2016, as a fresh bout of anxiety over Brexit risks and yen strength against greenback rattled investors. Meanwhile selloff pressure mounted on caution ahead of important U.S. economic indicators scheduled to be released later this week, including June jobs data due out Friday, as well as the outcome of Japans upper house election on Sunday. Total 29 out of 33 TSE sectors declined, with Financial Business, Rubber Products, Securities & Commodities Futures, Iron & Steel, Real Estate, Nonferrous Metals, and Banks issues being major losers while Fishery, Agriculture & Forestry, Pulp & Paper, and Foods issues were notable gainers. The 225-issue Nikkei Stock Average dropped 290.34 points, or 1.85%, to 15378.99. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 22.44 points, or 1.79%, to 1234.20.

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Australia Market extends losses
Jul 06,2016

Australian share market declined on Wednesday, 06 July 2016, on the back of yesterdays weaker trade balance figures and domestic political uncertainty. At close of trade, the benchmark S&P/ASX 200 index declined 30.50 points, or 0.58%, to 5197.50. The broader All Ordinaries shrank 28.10 points, or 0.53%, to 5284.70. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 582 to 451 and 293 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 1.72% to 19.232.

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Hong Kong Stocks sink 1.46%
Jul 05,2016

The Hong Kong stock market closed down on Tuesday, 05 July 2016, pressured by profit-taking, as worrying signs in Chinas service sector and as falls in major European stock markets overnight dampened investor sentiment. Trading was subdued with no directional clues from US markets, which were shut on Monday for the Independence Day holiday. The benchmark Hang Seng Index dropped 308.48 points, or 1.46%, to 20750.72 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 159.04 points, or 1.81%, to 8643.31. Turnover decreased to HK$53.6 billion from HK$68.7 billion on Monday.

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