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US stocks drop for eighth straight session
Nov 04,2016

U.S. stocks closed lower on Thursday, 03 November 2016 marking the S&P 500s longest losing streak since the depths of the financial crisis, as Facebook shares slumped and investors fretted over election uncertainty. Equity indices stumbled in the opening hour as a reversal in crude oil and weakness in the influential technology sector weighed on the broader market. This was the eighth successive drop for Wall Street.

The Dow Jones Industrial Average fell for a sixth straight day, declining 28.97 points, or 0.2%, to close at 17,930.67. The Nasdaq Composite fell 47.16 points, or 0.9%, to 5,058.41, as Facebook, one of its largest components, dropped sharply. The S&P 500 finished down 9.28 points, or 0.4%, at a nearly four-month closing low of 2,088.66, with eight of the main 11 sectors closing lower. The tech and health care sectors led the decliners, each with a 1% loss.

Eighteen out of thirty Dow components ended lower with shares of Pfizer and Intel dragging on the average.

A number of economic reports, including jobless claims, productivity data, factory orders and the nonmanufacturing ISM survey, largely underlined a theme of steady economic growth and were seen as strong enough to justify expectations for the Federal Reserve to raise interest rates at its December meeting. The central bank kept interest rates unchanged Wednesday, but signaled that its inching closer to a December interest-rate hike.

Oil began the day on a modestly higher note, rebounding from its recent losing streak. The energy component has been under pressure in recent days as investors reassess the previously announced OPEC supply freeze agreement and mull over some disappointing weekly inventory data. WTI crude slipped below the $45.00/bbl in the opening hour, finishing down 2.0% at $44.45/bbl.

Shares in Facebook closed down 5.7% after the social-media giant warned late Wednesday that growth rates for its advertising revenue will n++come down meaningfully.n++

Among economic reports expected for the day, the number of people who applied for unemployment benefits at the end of October rose by 7,000 to a three-month high of 265,000, but the rate of layoffs in the U.S. remains extremely low. Initial claims for the week ending October 29 rose by 7,000 to 265,000 (consensus 256,000). Continuing claims for the week ending October 22 decreased by 14,000 to 2.026 million.

Meanwhile, American firms and employees boosted their productivity in the third quarter for the first time in 2016, but the longer-term trend is still a poor one that bodes ill for the U.S. economy. Nonfarm business sector labor productivity increased at a 3.1% annual rate in the third quarter (consensus 1.8%). This was the first increase after three consecutive quarterly declines and was further underpinned by an upward revision to second quarter productivity to -0.2% from -0.6%.

Separate report showed that factory orders rose 0.3% in September. Meanwhile, ISM services index fell to 54.8% in October from 57.1%, below the 56% forecast.

Treasuries finished on a mixed note as the long end of the curve underperformed. The yield on the 2-yr note finished flat (0.82%) while the yield on the 10-yr note finished the day up one basis point (1.81%).

Todays trading volume was above the average of 860 million as more than 880 million shares changed hands at the NYSE floor.

Tomorrows economic data will include the 8:30 ET release of the September Trade Balance (consensus -$38.5 billion) and the Employment Situation Report for October. Market expects the jobs report to show an increase of 175,000 in nonfarm payrolls.

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Flat finish for US stocks
Oct 20,2016

US stocks ended the midweek affair on a flat note on Wednesday, 19 October 2016 as investors responded to a fresh batch of quarterly earnings reports and a rally in crude oil futures. The broader market inched higher at the start of the session as better-than-expected quarterly results from members of the energy and financial sectors helped boost risk appetite in the broader market.

The Dow Jones Industrial Average advanced 40.68 points, or 0.2%, to finish at 18,202.62 and the tech-heavy Nasdaq Composite Index rose 2.58 points to close at 5,246.41. S&P 500 index rose 4.69 points, or 0.2%, to close at 2,144.29.

Eight sectors ended in positive territory with energy, financials, materials and consumer discretionary leading the pack.

Among earning reports, Morgan Stanley climbed 1.9% after it reported a profit that beat analyst forecasts. The stock was the latest in a string of financials n++ including Goldman Sachs and J.P. Morgan Chase, that topped consensus expectations and boosted equities.

Intel was the worst performer in both the Dow and the S&P 500 after it reported a disappointing revenue outlook, even as its third-quarter earnings rose almost 9%. The stock slumped 5.9%.

A reading of economic conditions, known as the Federal Reserves beige book, showed that parts of the U.S. economy grew at a moderate pace. The anecdotal account of economic conditions at the Feds districts was released half an hour after gold futures settled. Metals were little-changed after the report.

Data released early Wednesday showed that U.S. housing starts ran at an annual 1.047 million pace in September. That was 9% lower than in August. The downbeat economic data could dull prospects for an interest-rate increase by the Federal Reserve before the year is up. Separately, the MBA Mortgage Index indicated that mortgage applications rose 0.6% in the week ending October 15. This followed a 6.0% decrease in the prior week.

The next Fed meeting is Nov. 1-2, but expectations for a rate increase at that meeting, so close to the election, are slim. Those odds rise sharply, to around 60%, for a December hike, although investors continue to question how aggressive the Fed will need to be.

Bullion prices ended higher at Comex on Wednesday, 19 October 2016. Gold futures on Wednesday logged a third straight session, climbing to their best level in two weeks, as the U.S. dollar continued to trade off multimonth highs hit earlier this month on the back of a drop in monthly domestic housing starts.

December gold rose $7, or 0.6%, to settle at $1,269.90 an ounce. December silver climbed by 2.5 cents, or 0.1%, to $17.663 an ounce after tapping a low of $17.57.

Crude oil futures rallied on Wednesday, 19 October 2016 at Nymex with the U.S. benchmark settling at a roughly 15-month high after U.S. government data revealed a surprise drop in crude stockpilesn++the sixth decline in seven weeks. Prices got off to an upbeat start after an official from Saudi Arabia said crude producers who arent OPEC members have shown willingness to join the cartels effort to limit output.

November West Texas Intermediate crude which expires at Thursdays settlement, gained $1.31, or 2.6%, to settle at $51.60 a barrel on the New York Mercantile Exchange. December Brent crude rose 99 cents, or 1.9%, to $52.67 a barrel on Londons ICEFutures exchange, for its highest finish in over a week.

The U.S. Energy Information Administration early Wednesday reported that domestic crude supplies dropped by 5.2 million barrels in the week ended 14 October. Market had expected a 2.5 million-barrel climb. Among the products, gasoline supplies rose by 2.5 million barrels, while distillate stockpiles fell by 1.2 million barrels.

Treasuries finished on a flat note as yields finished little changed across the curve. The yield on the 2-yr note settled at 0.80% while the yield on the benchmark 10-yr note finished at 1.74%.

Todays trading volume fell below the average of 853 million as 798 million shares changed hands at the NYSE floor.

Thursdays economic data will include the 8:30 ET release of weekly initial claims (consensus 249k) and the Philadelphia Fed Survey for October (consensus 5.5). Separately, the September Existing Home Sales Report (consensus 5.30 million) and September Leading Indicators (consensus 0.2%) will be released at 10:00 ET.

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Australia Market gains on Tatts-Tabcorp merger
Oct 19,2016

Australian share market extended gains into a second session on Wednesday, 19 October 2016, with sentiments boosted up by Tatts-Tabcorp merger deal and Chinese government data that showed the Chinese economy grew in line with expectations for the July-September quarter. At the closing bell, the benchmark S&P/ASX 200 index advanced 24.60 points, or 0.45%, to 5,435.40, while the broader All Ordinaries index was up 26.40 points, or 0.48%, to 5,518.40. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 650 to 401 and 293 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 5.20% to 13.274.

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Japan Market extends gain on yen easing
Oct 19,2016

The Japan share market inclined for third consecutive session on Wednesday, 19 October 2016, on the back of Chinese economic data that confirmed the economy had stabilized. Sentiment was also buoyed by Wall Street advancing overnight on solid corporate earnings. Total 21 out of 33 TSE sectoral issues advanced, with Fishery, Agriculture & Forestry, Retail Trade, Real Estate, and Securities & Commodities Futures issues being major gainers, whereas Mining, Insurance, Marine Transportation, and Nonferrous Metals issues being major losers. The 225-issue Nikkei average gained 35.30 points, or 0.21%, to close at 16,998.91. The Topix index of all first-section issues ended up 0.63 points, or 0.05%, at 1,357.20.

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China Stocks surge on pleasing new loan data
Oct 19,2016

Mainland China stock market finished the session mixed on Wednesday, 19 October 2016, due to watering expectations for monetary easing after data showed Chinas economy grew as expected in the third quarter. Most sectors were basically flat, with infrastructure stocks leading the gains. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.15%, to 3,316.24 points, while the Shanghai Composite Index inclined 0.03% to 3084.72 points.

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Hong Kong Stocks bounce 1.55%
Oct 19,2016

The Hong Kong stock market closed down on Wednesday, 19 October 2016, on Chinas third-quarter economic data, which came in roughly as expected. The Hang Seng Index declined 0.38% or 89.42 points to 23,304.97, while the Hang Seng China Enterprises Index shed 0.81% or 78.98 points to 9,641.22. Turnover reduced to HK$54.5 billion from HK$59.9 billion on Tuesday.

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US stocks end higher amid strong earning reports
Oct 19,2016

U.S. stocks closed higher on Tuesday, 18 October 2016 as investors welcomed stronger-than-expected quarterly results from a roster of companies, including Goldman Sachs Group, United Health Group and Netflix Inc. A positive bias in global markets and some mixed inflation data also contributed to todays upbeat demeanor. Meanwhile, reports on inflation and home-builder confidence that were in line with forecasts underlined market expectations that the Federal Reserve is likely to raise interest rates in December.

The Dow Jones Industrial Average rose 75.54 points, or 0.4%, to close at 18,161.94, with gains capped by a selloff in IBM. The Nasdaq Composite Index added 44.01 points, or 0.9%, to close at 5,243.84, boosted by sharp gains in biotechnology stocks. The S&P 500 index finished up 13.10 points, or 0.6%, at 2,139.60, with all 11 main sectors trading higher. The health-care, materials and utilities sectors led gainers.

The third-quarter earnings reporting season picked up in earnest this morning as participants pored over reports from the likes of Netflix, UnitedHealth, Goldman Sachs, IBM and Johnson & Johnson. All five names topped bottom-line estimates for the quarter, but the results were met with mixed reactions.

European markets outperformed on the heels of an above-consensus inflation reading out of the UK. All eleven S&P 500 sectors finished in the green with health care, materials, utilities, financials and technology leading the pack.

IBM shares closed down 2.6% after the company posted a drop in profit and revenue late Monday. Meanwhile, shares of Netflix surged, closing up 19% after results blew past Wall Street expectations.

Todays economic data included the CPI Report for September and the NAHB Housing Market Index for October. The all items index was up 0.3% in September, which was in-line with expectations, while the all items index, excluding food and energy, was up 0.1% (consensus +0.2%).

Separately, the NAHB Housing Market Index for October came in at 63 (consensus 59.0) from an unrevised 65 in September.

Precious metals ended substantially higher at Comex on Tuesday, 18 October 2016. Gold futures on Tuesday book its highest settlement level in nearly two weeks, as strength in the British pound helped the U.S. dollar ease back from recent multimonth highs. Signs of a pickup in inflation, which tends to be supportive for gold, also gave the metal a lift.

December gold rose $6.30, or 0.5%, to settle at $1,262.90 an ounce. December silver put up the bigger move, adding 16.5 cents, or 0.9%, to $17.638.

Gold gained as the dollar pulled back from recent highs. The ICE U.S. Dollar Index which measures the buck against a basket of six currencies, traded nearly flat as of golds settlement, after touching seven-month highs on Monday. A stronger greenback can put pressure on dollar-denominated gold and vice versa.

Crude oil futures settled higher on Tuesday, 18 October 2016 at Nymex with prices in New York reclaiming the $50-a-barrel level after posting losses over the past two trading sessions. The Organization of the Petroleum Exporting Countries Secretary-General Mohammad Barkindo voiced the groups commitment on Tuesday to limit crude production, but concerns that a recent rise in oil prices, which logged gains for the last four weeks in a row, will spur more U.S. shale production kept a lid on oils price gains.

November West Texas Intermediate crude added 35 cents, or 0.7%, to settle at $50.29 a barrel on the New York Mercantile Exchange, rebounding an intraday low of $49.76. December Brent crude on Londons ICE Futures exchange rose 16 cents, or 0.3%, to $51.68 a barrel.

Treasuries finished on a higher note as yields pulled back across the curve. The yield on the 2-yr note declined one basis point to 0.81% while the yield on the benchmark 10-yr note settled lower by two basis points (1.74%).

Todays trading volume fell below the average of 858 million as 742 million shares changed hands at the NYSE floor.

Tomorrows economic data will include the 7:00 ET release of the the weekly MBA Mortgage Index. Separably, Housing Starts (consensus 1168k) and Building Permits (consensus 1164k) for September will each cross the wires at 8:30 ET. The days data will be capped off with the release of the Feds Beige Book for October at 14:00 ET.

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China Producer Prices for the Industrial Sector Up In September
Oct 19,2016

China Producer Price Index (PPI) for manufactured goods increased 0.5% month-on-month, and increased 0.1% year-on-year in September 2016, according to National Bureau of Statistics of China data released on Tuesday. Since March 2012, the year-on-year growth rate has turned to positive from negative for the first time. The purchasing price index for manufactured goods increased 0.4% month-on-month, and decreased 0.6% year-on-year. On average from January to September, the PPI decreased 2.9% year-on-year, the purchasing price index for manufactured goods went down by 3.8% year-on-year.

Year-on-Year Changes of Prices of Different Categories

The year-on-year change of producer prices for means of production increased 0.1%, meaning 0.1 percentage point increase in the overall price level. Of which, producer prices for mining and quarrying industry increased 2.1%; that of raw materials industry decreased 0.2%; that of manufacturing and processing industry increased 0.1%. Producer prices for consumer goods remained at the same level (the amount of change was 0, similarly hereinafter) year-on-year. Of which, producer prices for foodstuff increased 0.3%, that of clothing increased 0.7%, that of commodities increased 0.5%, and that of durable consumer goods dropped by 1.5%.According to estimation, in the 0.1% increase in September, the carryover effect of last years prices changing was -1.5 percentage points, while new prices rising factors accounted for 1.6 percentage points.

The year-on-year purchaser price indices for fuel and power decreased 1.9%, chemical raw materials went down by 1.6%, ferrous metal materials increased 1.8%, non-ferrous metal materials and wires went up by 0.3%.

Month-on-Month Changes of Prices of Different Categories

The producer prices for means of production increased 0.6% month-on-month, meaning 0.5 percentage points increase in the overall price level. Of the total, producer prices for mining and quarrying industry went up by 2.9%, that of raw materials industry increased 1.1%, that of manufacturing and processing industry increased 0.2%. Producer prices for consumer goods remained at the same level month-on-month. Of which, producer prices for foodstuff increased 0.1%, that of clothing increased 0.2%, that of commodities decreased 0.2%, durable consumer goods decreased 0.1%.

The month-on-month purchaser price indices for fuel and power went up by 1.3%, that of ferrous metal materials increased 0.9%, that of building materials and non-metallic went up by 0.5%, that of non-ferrous metal materials and wires went up by 0.2%.

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China CPI up by 1.9% in September
Oct 19,2016

China consumer price index (CPI) went up by 1.9% year-on-year in September 2016, according to National Bureau of Statistics of China data released on Tuesday. The prices grew by 2.0% in cities and 1.6% in rural areas. The food prices went up by 3.2%, and the non-food prices increased 1.6%. The prices of consumer goods went up by 1.7% and the prices of services grew by 2.4%.

On monthly basis, the consumer prices increased 0.7% in September. Of which, prices increased 0.7% both in cities and rural areas. The food prices went up by 1.7%, and the non-food prices went up by 0.4%. The prices of consumer goods increased 0.8%, and the prices of services increased 0.5%.

Year-on-Year Changes of Prices of Different Categories

In September, prices of food, tobacco and liquor, went up by 2.7% year-on-year, affecting nearly 0.81 percentage points increase in the CPI. Of which, the prices of fresh vegetables, went up by 7.5%, affecting nearly 0.18 percentage points increase in the CPI; fresh fruits, up by 6.7%, affecting nearly 0.11 percentage points increase in the CPI; aquatic products, up by 6.1%, affecting nearly 0.11 percentage points increase in the CPI; meat, went up by 4.4%, affecting nearly 0.21 percentage points increase in the CPI (price of pork was up by 5.8%, affecting nearly 0.16 percentage points increase in the CPI); eggs, down by 4.6%, affecting nearly 0.03 percentage points decrease in the CPI.

In September, among the prices of the other seven categories, six increased and one decreased. Of which, the prices of other articles and services, health care, education, culture and recreation, residence, clothing, household articles and services, increased 4.4, 4.3, 2.0, 1.5, 1.2 and 0.3% respectively, that of transportation and communication decreased 0.4%.

Month-on-Month Changes of Prices of Different Categories

In September, prices of food, tobacco and liquor increased 1.2% month-on-month, affecting nearly 0.35 percentage points increase in the CPI. Of which, prices for fresh vegetables, went up by 10.7%, affecting nearly 0.25 percentage points increase in the CPI; eggs, up by 5.9%, affecting nearly 0.03 percentage points increase in the CPI; fresh fruits, went up by 5.2%, affecting nearly 0.08 percentage points increase in the CPI; aquatic products, down by 0.6%, affecting nearly 0.01 percentage points decrease in the CPI.

In September, among the prices of the other seven categories, six increased and one kept at the same level. Of which, the prices of education, culture and recreation, clothing, residence, transportation and communication, health care, other articles and services, increased 1.2%, 0.8%, 0.3%, 0.3%, 0.2% and 0.2% respectively, that of household articles and services kept at the same level.

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PBOC Injects CNY150 Billion at OMOs
Oct 19,2016

The Peoples Bank of China resumed the 28-day reverse repo and injected a total of CNY150 billion via open market operations on Wednesday, 19 October 2016. The central bank injected CNY65 billion through a seven-day reverse repo, CNY50 billion via a 14-day reverse repo, and CNY35 billion through the 28-day repo.

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Resources leads Australia market rebound
Oct 18,2016

Australian share market closed higher on Tuesday, 18 October 2016, with materials and resources stocks leading rally on the back of positive commodity prices. At the closing bell, the benchmark S&P/ASX 200 index advanced 22.10 points, or 0.41%, to 5,410.80, while the broader All Ordinaries index was up 21.10 points, or 0.39%, to 5,492. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 546 to 503 and 308 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 4.11% to 14.002

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Asia Pacific Market: Stocks mixed ahead of key data
Oct 17,2016

Asia Pacific share market finished mixed on Monday, 17 October 2016, as traders digested U.S. Federal Reserve Chair Janet Yellens Friday speech and awaited US and Chinese data due this week.

Investors are watching key economic data including those on industrial production and inflation to weigh the outlook for when the Federal Reserve will raise borrowing costs. Fed Chair Janet Yellen signaled Friday the central bank will remain deliberate in raising interest rates as the odds for monetary tightening in December hovered above 60%.

On tap later this week is a deluge of data from China, including third-quarter gross domestic product (GDP), house prices, industrial production numbers, retail sales and fixed asset investment.

On Friday, Yellen said the central bank might want to let inflation run hotter for a while, pointing out that the economy had seen an unusual tendency for weak demand against strong supply. She said that made it reasonable to ask if there was a possibility to reverse adverse supply-side effects by temporarily running an economy with robust aggregate demand and a tight labor market.

Among Asian bourses

Australia Market sinks 0.83%

Australian share market stumbled on risk-off selloff across the board, with gaming, realty, utilities, pharma, industrial, and resources stocks leading losses. At the closing bell, the benchmark S&P/ASX 200 index declined 45.30 points, or 0.83%, to 5,388.70, while the broader All Ordinaries index was down 47.60 points, or 0.86%, to 5,470.90. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 682 to 385 and 306 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 3.38% to 14.602.

Shares in Crown Resort tumbled 13.9% to A$11.15 following news that 18 of its employees, including its executive vice president VIP International, Jason OConnor, were detained after a weekend raid of its offices. Shares in fellow casino operators Star Entertainment and SkyCity fell in sympathy, down 3.7% and 3.9% respectively.

Shares of resources, particularly coal miners, inclined on tracking strength in coal prices. Whitehaven Coal closed 3.5% higher after the coal miner said it expects coal prices to remain strong through the December quarter after settlements in Asian markets helped cut its borrowings. In a market update, the company said the price of semi-soft coking coal has surged to $US130 a tonne, higher than the $US70 a tonne Whitehaven fetched during the September quarter. South32 added 0.4%. Fortescue Metals Group was the days strongest stock by weight, up 2.7%.

Japan Market gains on yen easing

The Japan share market finished higher after swinging between gains and losses on the back of positive lead from Wall Street last Friday and the yens moderate easing against the dollar. However, market topside capped amid a wait-and-see mood before the release of key U.S. economic data this week and earnings from Japanese firms that fully kick off next week. The 225-issue Nikkei average gained 43.75 points, or 0.26%, to close at 16,900.12. The Topix index of all first-section issues ended up 5.37 points, or 0.4%, at 1,352.56. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1841 to 1031 and 410 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 0.55% to 19.90.

Japan Display Inc. surged 8.3%, leading gains on the Topix Electric Appliances Index, after SMBC Nikko Securities Inc. raised its rating on the stock to outperform from neutral.

Fukushima operator Tokyo Electric Power Co. slumped 7.9%, the biggest drop on the Nikkei 225 Stock Average, on dimming hopes that reactors at Kashiwazaki-Kariwa, the worlds largest nuclear plant, will be restarted as candidate opposed to the restart of Tepcos Kashiwazaki Kariwa nuclear plant won the gubernatorial race for Niigata prefecture, where the reactor is located, blurring the outlook for Japans largest power utility.

Aderans Co., a wig maker, soared 17% after the firm received a buyout offer that represents a 29% premium to the stocks Friday closing price.

TSI Holdings Co., a manufacturer of men and womens clothing, climbed 7% after the company reported 830 million yen ($8 million) in operating profit for the six months ended August, swinging from a loss of 422 million yen in the year-earlier period.

China Stocks drop 0.85%

Mainland China stock market finished the session down on Monday, 17 October 2016, with sentiment soured by a late-afternoon tumble in Shanghais U.S. dollar-denominated B shares as the yuan continued to weaken. All main sectors fell, with real estate shares leading the decline. The CSI300 index of the largest listed companies in Shanghai and Shenzhen dropped 0.85%, to 3,277.88 points, while the Shanghai Composite Index declined 0.74% to 3041.17 points.

The B-share sell-off comes amid increasing worries about yuans value, which touched a fresh, six-year low against the greenback on Monday. B-shares are dollar-denominated shares in Chinese companies, and thus vulnerable to further yuan depreciation.

Chinas yuan weakened against greenback on Monday as the Peoples Bank of China set the midpoint rate at 6.7379 per dollar prior to market open, weaker than the previous fix of 6.7157. but decline was limited as traders were hesitant to buy greenbacks amid concern the central bank may step in try to halt the Chinese currencys slide. The spot market opened at 6.7318 per dollar and was changing hands at 6.7329 at midday, 58 pips away from the previous late session close and 0.07% firmer than the midpoint.

Hong Kong Stocks fall 0.84%

The Hong Kong stock market closed down, on tracking weak cues from other regional bourses, with casino-related stocks leading losses on news that Chinese authorities detained employees at casino operator Crown Resorts for suspected gambling crimes. The Hang Seng Index was down 0.84% or 195.77 points to 23,037.54, while the Hang Seng China Enterprises Index dropped 0.63% or 60.32 points to 9,541.08. Turnover decreased to HK$53.6 billion from HK$60.3 billion on Friday.

Macau gaming counters led the decline on news that China authorities have detained 18 employees of Australian casino giant Crown Resorts for gambling crimes. Galaxy Entertainment (00027) and Sands China (01928) slid 4.3% and 3.3% to HK$29.3 and HK$33.85. The stocks were the top blue-chip losers today.

Standard Chartered (02888) soared 3% in early London trade, triggering late buying orders of its shares in HK. It ended up 1.5% to HK$62.6. HSBC (00005) edged down 0.8% to HK$58.05.

CRRC Times Electric (03898) jumped 3.7% to HK$39.65 after Macquarie upgraded its rating for the stock to outperform from neutral. China Communications Construction (01800) edged up 0.1% to HK$8.26.

Indian Market tumbles on weak European cues

Auto, telecom sector stocks and index heavyweights Reliance Industries, HDFC and HDFC Bank led modest losses for key benchmark indices in a volatile trading session. The barometer index, the S&P BSE Sensex, fell 143.63 points or 0.52% to settle at 27,529.97. The Nifty fell 63 points or 0.73% to settle at 8,520.40. Weakness in European stocks weighed on sentiment on the domestic bourses.

Data released by the government after market hours on Friday, 14 October 2016 showed that Indias trade deficit narrowed to $8.34 billion in September 2016, from $10.17 billion a year earlier. Imports declined 2.54% to $31.22 billion. Exports rose 4.62% to $22.88 billion.

UltraTech Cement fell 0.74% at Rs 4,008.70. On a consolidated basis, the companys net profit rose 25.05% to Rs 614 crore on 2.52% decline in net sales to Rs 5709 crore in Q2 September 2016 over Q2 September 2015. The result was announced during market hours today, 17 October 2016.

Elsewhere in the Asia Pacific region: New Zealands NZX50 fell 0.9% to 706.37. Indonesias Jakarta Composite index grew 0.2% to 5410.30. Taiwans Taiex added 0.1% to 9176.22. South Koreas KOSPI index rose 0.2% to 2027.61. Malaysias KLCI was down 0.3% at 1653.71. Singapores Straits Times index added 0.1% to 2817.07.

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Australia Market sinks 0.83%
Oct 17,2016

Australian share market stumbled on Monday, 17 October 2016, on risk-off selloff across the board, with gaming, realty, utilities, pharma, industrial, and resources stocks leading losses. At the closing bell, the benchmark S&P/ASX 200 index declined 45.30 points, or 0.83%, to 5,388.70, while the broader All Ordinaries index was down 47.60 points, or 0.86%, to 5,470.90. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 682 to 385 and 306 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 3.38% to 14.602.

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Japan Market gains on yen easing
Oct 17,2016

The Japan share market finished higher after swinging between gains and losses on Monday, 17 October 2016, on the back of positive lead from Wall Street last Friday and the yens moderate easing against the dollar. However, market topside capped amid a wait-and-see mood before the release of key U.S. economic data this week and earnings from Japanese firms that fully kick off next week. The 225-issue Nikkei average gained 43.75 points, or 0.26%, to close at 16,900.12. The Topix index of all first-section issues ended up 5.37 points, or 0.4%, at 1,352.56. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1841 to 1031 and 410 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 0.55% to 19.90.

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China Stocks drop 0.85%
Oct 17,2016

Mainland China stock market finished the session down on Monday, 17 October 2016, with sentiment soured by a late-afternoon tumble in Shanghais U.S. dollar-denominated B shares as the yuan continued to weaken. All main sectors fell, with real estate shares leading the decline. The CSI300 index of the largest listed companies in Shanghai and Shenzhen dropped 0.85%, to 3,277.88 points, while the Shanghai Composite Index declined 0.74% to 3041.17 points.

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