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Nikkei dives 3.5% down
Jun 13,2016

The Japan share market stumbled to a two-month low on Monday, 13 June 2016, dragged down by yen ascent against basket of major currencies yen amid worries over global growth and the possible impact of Britain quitting the EU as opinion polls showing an exit is a real possibility. The benchmark Nikkei 225 index slumped 3.51 percent, or 582.18 points, to 16,019.18 by the close, its lowest since mid-April, while the broader Topix index of all first-section shares was down 3.47 percent, or 46.18 points, to finish at 1,284.54. Falling issues overwhelmed rising ones 1,903 to 40 in the TSEs first section, while 15 issues were unchanged. Volume fell to about 1.88 billion shares from Fridays about 2.21 billion shares.

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China Stocks end 3.1% down
Jun 13,2016

Mainland China stock market tumbled after a long weekend on Monday, 13 June 2016, as investor confidence took a hit after latest official data showing Chinas fixed-asset investment growth eased to 9.6 percent on-year in the January-May period. Investor sentiment was also fragile ahead of MSCIs decision on whether it will include China A-shares and on fears that Britain may vote to leave the European Union. The CSI300 index of the largest listed companies in Shanghai and Shenzhen declined 3.09%, to 3066.34, while the Shanghai Composite Index dropped 94.09%, to 2833.07 points. The market was closed on Thursday and Friday for public holiday.

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Hong Kong Market tumbles 2.52%
Jun 13,2016

The Hong Kong stock market finished down on Monday, 13 June 2016, as weak investment data fuelled worries about the health of the Chinese economy and on fears that Britain may vote to leave the European Union. The benchmark Hang Seng Index declined 529.65 points, or 2.52%, to 20512.99 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 212.05 points, or 2.4%, to 8619.92. Turnover increased to HK$65.1 billion from HK$54.5 billion on Friday.

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Australia Stock Market closed for public holiday
Jun 13,2016

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US stocks end lower on Friday
Jun 13,2016

U.S. stocks closed lower on Friday, 10 June 2016 with only blue chips holding onto slight gains for the week, as anxiety over a possible exit of the U.K. from the European Union and a drop in oil prices weighed on markets. In addition, a drop in oil prices, spurred a global selloff.

The Dow Jones Industrial Average fell 119.85 points, or 0.7%, to close at 17,865.34, for a weekly gain of 0.3%. The S&P 500 declined 19.41 points, or 0.9%, to finish at 2,096.07, for a loss of 0.2% on the week. The Nasdaq Composite Index dropped 64.07 points, or 1.3%, to close at 4,894.55, for a weekly loss of 1%.

Financials, consumer discretionary and health-care stocks led the losses this week, while energy shares were hit on Friday.

Most of its 30 blue-chip companies ended in negative territory. Goldman Sachs and Boeing were the top decliners on the index.

Oil contributed to the move lower as the U.S. crude benchmark tumbled 3%, to settle at $49.07. The slide in crude was triggered by a rising dollar, with investors looking ahead to next weeks meeting of Federal Reserve policy makers. Expectations for an interest-rate hike have been dialed back following a lackluster May jobs report and dovish comments by Federal Reserve Chairwoman Janet Yellen, but investors are still wary of a possible tightening later in the summer.

Market sentiment in Europe has been dour due to fears that a U.K. referendum, set for 23 June, will result in Britain exiting the European Union. these worries have dragged European stock markets lower and has trickled over into the U.S., with equities there trading lower on Friday. Declines in the stock market have boosted the haven appeal of gold.

The greenback, was up 0.7% on Friday, adding to an advance that has seen the dollar gauge push 0.7% higher over the week. A stronger dollar makes assets pegged to the currency, like gold, less attractive to buyers purchasing with other monetary units. The dollar had been weaker as the odds of a rate increase by the Federal Reserve at its two-day policy meeting next week and in July have dimmed.

Negative rates throughout parts of Europe and the commencement of an additional quantitative-easing measures by the European Central Bank on Thursday, has resulted in sovereign-bond yields, which move in the opposite direction of prices, to record lows. That environment is likely to support appetite for precious metals.

Fridays economic data included the preliminary reading of the Michigan Sentiment Index for June and the Treasury Budget for May. The preliminary University of Michigan Consumer Sentiment report for June checked in at 94.3 (consensus 94.0), down slightly from the final reading of 94.7 for May and down from the 96.1 reading seen in June 2015. Separately, the Treasury Budget for May showed a deficit of $52.5 billion versus a deficit of $84.1 billion in May 2015.

Bullion prices settled higher on Friday, 10 June 2016. Gold prices ended higher to notch a second-straight weekly gain, as weakness in global equities helped to boost the metals haven appeal. A higher finish for the dollar on the week, kept a cap on any gains, however.

August gold tacked on $3.20, or 0.3%, to settle at $1,275.90 an ounce, finishing at the highest level in more than three weeks. For the week, prices gained 2.7%. Silver for July delivery added 6.2 cents, or 0.4%, to $17.22 an ounce, ending about 5.9% higher for the week.

Investors piled into government bonds, driving yields to new lows. The yield on the 10-year Treasury note fell to 1.64%, its lowest level in nearly three years, while the yield on the benchmark German bond hit a record low of 0.02%.

Fridays participation was relatively light as 853 million shares changed hands on the NYSE floor.

Mondays economic data will include Import and Export Prices for May and May Retail Sales, which will each cross the wires at 8:30 ET. Separately, Business Inventories for April will be released at 10:00 ET.

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US stocks snap three day winning streak
Jun 10,2016

U.S. stocks pared earlier losses but ended in negative territory on Thursday, 09 June 2016, snapping a three-day win streak as oil futures pulled back from 10-month highs. Equity indices faced some early selling pressure as market participants were reminded about the presence of global growth concerns after the Bank of Korea unexpectedly lowered its key interest rate to 1.25% from 1.50% and China reported a 0.5% month-over-month decline in CPI (expected -0.2%). Markets in China and Hong Kong could not respond to the weak inflation data due to holiday closures, but the commodity market appeared to take notice as copper and crude oil retreated.

The Dow Jones Industrial Average slipped 19.86 points, or 0.1%, to close at 17,985.19, after being down by as many as 89 points earlier in the session.

The Nasdaq Composite Index declined 16.03 points, or 0.3%, to finish at 4,958.62. Earlier, the index was down by 34 points. The S&P 500 declined 3.64 points, or 0.2%, to close at 2,115.48,

Seven out of the indexs 10 sectors finished lower, with consumer staples, telecoms and utilities showing slight gains. Materials and financial stocks led the losses. Shares of American Express, Caterpillar and Goldman Sachs Group led blue chips lower.

Market reaction to initial jobless claims was muted as a weekly tally of those seeking first-time unemployment benefits pointed to low levels of layoffs even as other data showed hiring slowed in recent months. On Thursday, the dollar index edged up by 0.4% as a report showed a small drop in weekly jobless benefits claims. Initial jobless claims fell to 264,000 in early June, providing some evidence that the labor market isnt entirely unraveling after that disappointing report last Friday indicated that just 38,000 jobs were created in May, well below expectations. Continuing claims for the week ending May 28 decreased by 77,000 to 2.095 million. That is the lowest level of continuing claims since October 21, 2000, lowering the four-week moving average for this series to 2.145 million from 2.163 million

The U.S. ICE Dollar Index trades around 1.9% lower month to date in the wake of a weaker-than-expected snapshot of labor markets issued last week. A weaker greenback makes dollar-priced assets including precious metals cheaper, therefore more attractive.

Other economic data included Wholesale Inventories. Wholesale inventories increased 0.6% in April (consensus +0.1%) after increasing an upwardly revised 0.2% (from 0.1%) in March. The increase in April was fueled by a 1.3% increase in nondurable inventories, which was powered by a 2.2% increase in drug inventories and a 7.5% jump in farm products inventories. Wholesale sales increased 1.0% following a downwardly revised 0.6% increase (from 0.7%) in March.

Crude oil prices finished lower on Thursday, 09 June 2016 at Nymex after hitting their highest levels in almost 11 months, buoyed by global production disruptions and falling U.S. crude inventories. After a three-session climb to the highest level in almost 11 months, oil futures pulled back on Thursday as some analysts raised concerns that the recent price rally would prompt higher production.

July West Texas Intermediate crude shed 67 cents, or 1.3%, to end at $50.56 a barrel on the New York Mercantile Exchange. August Brent crude lost 56 cents, or 1.1%, to $51.95 a barrel after finishing Wednesday at $52.51, the highest futures settlement since October.

Bullion prices settled higher at Comex on Thursday, 09 June 2016. Gold futures climbed on Thursday to settle at their highest levels since mid-May, finding support from expectations the Federal Reserve will keep U.S. interest rates on hold in the coming months. The possibility that the United Kingdom may leave the European Union, inviting global market and economic volatility, also bolstered the yellow metal.

August gold rose $10.40, or 0.8%, to settle at $1,272.70 an ounce. July silver tacked on 28.3 cents, or 1.7%, to $17.268 an ounce Thursday.

Financial markets are pricing in slim odds that the Fed will raise rates at a meeting that wraps 15 June or when it next meets again in July. This low-rate view has boosted the appeal of assets that dont bear interest, including precious metals.

Treasuries finished the day near their highs despite the intraday rebound in equities with the 10-yr yield sliding two basis points to 1.68%. On a related note, demand for Germanys 10-yr bund pressured its yield to a record low of 0.026% before ending flat at 0.037%.

Todays participation was below average as fewer than 800 million shares changed hands at the NYSE floor.

Tomorrows economic data will be limited to the preliminary reading of the Michigan Sentiment Index for June (consensus 94.0) and the May Treasury Budget. The two reports will be released at 10:00 ET and 14:00 ET, respectively.

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Asia Pacific Market: Stocks up in quite trade, US jobs data eyed for Fed clues
Jun 03,2016

Asia Pacific share market closed higher in quite trade on Friday, on caution ahead of US jobs data later in the global day that could determine the case for a Federal Reserve interest rate hike later this month or in July.

The US government will unveil the monthly job data for May 2016 later in the global day. The nonfarms payroll data could provide cues on the timing and pace of further interest rates increases from the US Federal Reserve. The job data has implications for the US monetary policy. The US central banks mandate centers on maximizing employment and keeping inflation at a 2% target level. The Federal Open Market Committee (FOMC) next undertakes monetary policy review at a two-day meeting on 14-15 June 2016. The Fed has kept the benchmark fed funds rate unchanged after raising it for the first time in nearly a decade in December 2015.

Chicago Fed President Charles Evans today, 3 June 2016, said in prepared remarks at the Global Interdependence Center in London that the Federal Reserve should avoid aggressive tightening of US interest rates if it doesnt want to upset the so-far-so-good economic apple cart. Evans said it may be appropriate to have two 25 basis point moves between now and the end of the year.

Among Asian bourses

Australia Market ups 0.8%

Australian share market advanced for second time this week, as investors chased for bottom fishing on recently beaten down stocks. The stocks fell during midweek amid worries over global issues such as Brexit, coupled with the release of strong domestic growth data that could spell the end to Reserve Bank rate cuts. At close of trade, the benchmark S&P/ASX 200 index advanced 40 points, or 0.76%, to 5318.90. The broader All Ordinaries grew 38.30 points, or 0.72%, to 5392.50.

Healthcare stocks were up after stock research company CLSA expects a sharp sell-off in the aged care sector recently turns a buying opportunity, and as AiGroup found health services were among the key drivers of a 1.8-point rise in its Performance of Services Index in May, which pushed the measure into expansionary territory. Sonic Healthcare was 1.5% higher to A$21.49 while sector heavyweight CSL had lifted 0.7% to A$117.11.

Shares of materials and resources players advanced, helped by an increase in commodity prices. Among the big miners, BHP Billiton added 1.6% to A$18.53 and Rio Tinto rose 1.5% to A$43.54. Iron ore miner Fortescue was up 2.7% to A$3.08.

Energy shares gained ground after oil prices rallied overnight. Crude oil prices rose to a seven-month high, after a weekly US petroleum report showed a decline in the countrys stockpile. Oil explorer Woodside Petroleum grew 0.4% to A$26.86, Santos 3.8% to A$4.41, and Origin 1.3% to A$5.56.

Nikkei gains 0.48%

The Japan share market finished higher, thanks to bargain hunting in heavyweight stocks, spurred by halt in yen appreciation against greenback and gains on the Wall Street overnight. But gains were limited as investors retreated to the sidelines ahead of the U.S. governments release of employment data for May later in the global day, The 225-issue Nikkei average climbed 79.68 points, or 0.48%, to 16,642.23, after falling 393.18 points on Thursday. The Topix index rose 5.42 points, or 0.41%, to close at 1,337.23, after falling 30.26 points the previous day.

Fast Retailing jumped 6.9%, as sales at its Uniqlo shops in Japan in May shot up 5.9% from a year earlier on a same-store basis.

Itoham Yonekyu Holdings shop up 8.20%, after SMBC Nikko Securities revised up its price target for the food producer.

Takata Corp. closed 1.6% higher after reports Bain Capital and PAG Asia Capital are evaluating bids for the scandal-ridden air-bag maker, joining KKR & Co. among those interested in an offer.

Capcom Co. added 3.7%. Bank of America Corp.s Merrill Lynch unit reiterated its buy rating on the stock, citing the release of a new game and higher profits from existing titles.

Fujitsu slumped 3.4% after the Nikkei newspaper reported the computer makers costs to overhaul its data centers could be more than double what was initially estimated.

China Stocks closed up

Mainland China stock market advanced, as investors continued hunting for blue chip stocks amid expectations that global index provider MSCI might include mainland Chinese stocks into its widely tracked benchmarks. Total 8 out of 10 SSE sectoral indices advanced with consumer staples, healthcare, IT, telecom, and consumer discretionary issues being major gainers. The CSI300 index of the largest listed companies in Shanghai and Shenzhen inclined 0.7%, to 3189.33, while the Shanghai Composite Index grew 0.46%, to 2938.68 points, taking its weekly gain to 4.2%.

Shares of distilleries companies advanced the most in Mainland market. Liquor maker Kweichow Moutai Co. jumped 6% to a record high and Jiangsu Yanghe Brewery Joint-Stock Co. added 4.4%.

Hong Kong Market ends higher

The Hong Kong stock market finished with gains in quite trade, as investors waited for the latest US jobs data, due out later, to see if the Federal Reserve is likely to raise US interest rates soon. The benchmark Hang Seng Index advanced 88.02 points, or 0.42%, to 20947.24 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, rose 53.43 points, or 0.61%, to 8809.81. Turnover increased slightly to HK$60.1 billion from HK$57.9 billion on Thursday.

Dah Sing Financial (DSF)(00440) and Dah Sing Banking Group (DSBG)(02356) entered agreements to sell its HK and Macau life insurance businesses and become exclusive insurance agent for distribution of life-insurance products at HK$10.6 billion. DSF shot up 3.3% to HK$51.8 as it plans a special dividend after the transaction. DSBG added 1.9% to HK$13.6.

HSBC (00005) and Tencent (00700) will see their respective weightings on the HSI rise and lower to 10% next Monday. HSBC edged up 0.6% to HK$50.8. Tencent also inched up 0.4% to HK$170.8.

OPEC failed to reach an agreement on output, but Brent crude futures stood at US$50/b for the first time in seven months. CNOOC (00883) nudged up 0.3% to HK$883. PetroChina (00857) slipped 0.7% to HK$5.38.

Longyuan Power (00916) soared 7% to HK$6.2 after Macquarie Research lifted its target price and upgraded its rating to outperform. Huaneng Renewables (00958) advanced 3.2% to HK$2.6.

Indian market settles near the flat line

Initial gains for the two key benchmark indices triggered by the weather office retaining its forecast of above normal rains for the 2016 southwest monsoon season could not be sustained as the outcome of monthly survey showed that the rate of growth in Indias services sector eased last month. The barometer index, the S&P BSE Sensex, lost 0.11 points to settle at 26,843.03. The Nifty 50 index rose 1.85 points or 0.02% to settle at 8,220.80.

FMCG stocks edged higher after the weather office stuck to its previous forecast of good rains for the 2016 southwest monsoon season. Tractor maker Mahindra & Mahindra (M&M) also edged higher on prospects of above normal rains. Aviation stocks edged lower as global crude oil prices rose. Idea Cellular tumbled on reports that US based private equity firm Providence Equity Partners offloaded a large portion of its stake in the market at a discount to ruling market price.

BPCL edged higher after the companys announcement that it has secured shareholders approval for increase in limit of total shareholding of all registered foreign institutional investors (FIIs) put together to 49% of the paid-up equity share capital of the company from 24%

Elsewhere in the Asia Pacific region: New Zealands NZX50 declined 0.27% to 7003.12. South Koreas KOSPI index added 0.04% to 1985.85. Taiwans Taiex index added 0.37% to 8587.36. Malaysias KLCI rose 0.36% to 1636.46. Indonesias Jakarta Composite index added 0.43% to 4853.92. Singapores Straits Times index rose 0.51% to 2809.23.

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Australia Market ups 0.8% on bottom fishing
Jun 03,2016

Australian share market advanced for second time this week on Friday, 03 June 2016, as investors chased for bottom fishing on recently beaten down stocks. The stocks fell during midweek amid worries over global issues such as Brexit, coupled with the release of strong domestic growth data that could spell the end to Reserve Bank rate cuts. At close of trade, the benchmark S&P/ASX 200 index advanced 40 points, or 0.76%, to 5318.90. The broader All Ordinaries grew 38.30 points, or 0.72%, to 5392.50.

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Nikkei gains 0.48%
Jun 03,2016

The Japan share market finished higher on Friday, 03 June 2016, thanks to bargain hunting in heavyweight stocks, spurred by halt in yen appreciation against greenback and gains on the Wall Street overnight. But gains were limited as investors retreated to the sidelines ahead of the U.S. governments release of employment data for May later in the global day, The 225-issue Nikkei average climbed 79.68 points, or 0.48%, to 16,642.23, after falling 393.18 points on Thursday. The Topix index rose 5.42 points, or 0.41%, to close at 1,337.23, after falling 30.26 points the previous day.

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China Stocks closed up
Jun 03,2016

Mainland China stock market advanced on Friday, 03 June 2016, as investors continued hunting for blue chip stocks amid expectations that global index provider MSCI might include mainland Chinese stocks into its widely tracked benchmarks. Total 8 out of 10 SSE sectoral indices advanced with consumer staples, healthcare, IT, telecom, and consumer discretionary issues being major gainers. The CSI300 index of the largest listed companies in Shanghai and Shenzhen inclined 0.7%, to 3189.33, while the Shanghai Composite Index grew 0.46%, to 2938.68 points, taking its weekly gain to 4.2%.

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Hong Kong Market ends higher
Jun 03,2016

The Hong Kong stock market finished with gains in quite trade on Friday, 03 June 2016, as investors waited for the latest US jobs data, due out later, to see if the Federal Reserve is likely to raise US interest rates soon. The benchmark Hang Seng Index advanced 88.02 points, or 0.42%, to 20947.24 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, rose 53.43 points, or 0.61%, to 8809.81. Turnover increased slightly to HK$60.1 billion from HK$57.9 billion on Thursday.

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Australia Market drops 0.8%
Jun 02,2016

Australian share market declined for third straight session on Thursday, 02 June 2016, weighed by selloff in property trusts, bank & financial, metal & mining, consumer goods, and IT stocks. At close of trade, the benchmark S&P/ASX 200 index declined 44.30 points, or 0.83%, to 5278.90, its lowest close since 4 May 2016. The broader All Ordinaries sank 41 points, or 0.76%, to 5354.20. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 542 to 454 and 296 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 4.85% to 18.209.

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Japan Stocks weigh by surging yen
Jun 02,2016

The Japan share market tumbled on Thursday, 02 June 2016, weighed by the yen appreciation against greenback after Prime Minister Shinzo Abe said he would postpone an increase in the nations sales tax and held back a widely expected fiscal stimulus package. Easing policies aim in part to weaken the yen to help boost the economy, so the smaller chance of easing triggered an unwinding of bearish yen bets, which pushed the yen stronger. The benchmark Nikkei225 index had tumbled 2.32%, or 393.18 points, to 16,562.55. The broader Topix index of all first-section shares fell 2.22%, or 30.26 points, to 1,31.81.

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Asia Pacific Market: Stocks closed higher in light trade
May 30,2016

Asia Pacific share market traded higher on Monday, 30 May 2016, on tracking positive lead from offshore markets on last Friday and increasing signs of strength in the worlds biggest economy.

The main US indices all gained on Friday overnight due to Yellens hawkish speech, led by the financial and telecommunication sectors. The Dow Jones Industrial Average Index edged up 0.25%, or 44.93 points, to close at 17,873.22, while the S&P 500 closed 0.43% higher at 2,099.06, and the Nasdaq market increased 0.65% to close at 4,933.51. US stock markets will be closed on Monday for the Memorial Day holiday. European markets rose slightly on Friday as the German DAX gained 0.13% to 10,286.31 and Frances CAC 40 inched up 0.05% to 4,514.74.

However, gains were limited as investors anxiety over the U.S. central banks plan to raise interest rates after more hawkish comments from Fed officials. US Federal Reserve chairwoman Janet Yellen said in a speech at Harvard University that an interest rate hike in coming months would n++probablyn++ be n++appropriaten++, given the countrys economy continues to improve.

St. Louis Fed president James Bullard said today that markets are well-prepared for a possible rate increase globally. Traders are pricing in a 30% chance the Fed will increase rates in June, up from 4% earlier this month. July shows a 54% probability of higher U.S. borrowing costs, up from 51% earlier Friday.

Among Asian bourses

Australia Market closes near 9-month peak

Australian share market closed slight higher, as gains in consumer staple, energy, realty, and consumer discretionary stocks were more than offset by losses in materials & resources and banks & financials stocks. At close of trade, the benchmark S&P/ASX 200 index inclined 2.10 points, or 0.04%, to 5408. The broader All Ordinaries added 3.90 points, or 0.07%, to 5473.60.

ALS posted a full year loss of A$240.7 million as the oil and gas sector dragged down the rest of the analytical testing business. Its shares closed more than 7% lower at A$4.17.

News that vitamin company Blackmores was having trouble convincing Chinese customers of the quality of its infant formula product sent its shares tumbling. They lost more than 4% down to close at A$151.50.

Qantass latest traffic statistics showed no improvement since the airline warned last month that domestic travel has slowed in Australia as the nation heads towards a federal election. Qantas closed 3.3% higher at A$3.10.

Cleaning company Spotless Group Holdings jumped 6.2% after it reaffirmed its earnings forecast and announced it may be selling its laundry business.

Japan Stocks rise on weaker yen, sales tax hike delay hopes

The Japan share market advanced on the back of yen depreciation against the dollar and on media reports that a planned hike in the countrys consumption would be delayed. The 225-issue Nikkei average spurted 233.18 points, or 1.39%, to close at 17068.02. The Topix index of all first-section issues finished up 716.08 point, or 1.19%, at 1366.01.

Japans Prime Minister Shinzo Abe told senior ruling party officials that he wants to delay raising the sales tax again, this time by more than two years, media reports said during the weekend. Deputy Prime Minister and Finance Minister Taro Aso and Liberal Democratic Party Secretary-General Sadakazu Tanigaki, a former finance minister, are opposed to Abes idea of yet another delay in the tax hike, from April next year until October 2019, the reports said. Aso told Abe that if the government were to postpone the tax hike, which is designed to help finance growing social security costs and thus trim the huge public debt, the Prime Minister would have to dissolve the Lower House and call snap elections.

Shares of exporters closed sharply higher after yen jumped above 111 levels against greenback for the first time since late April. A weaker yen is generally a positive for exporter as it increases overseas profits when converted into local currency. Soy sauce maker Kikkoman Corp, which gets 47% of revenue from North America, surged 2.8% to 3930 yen. Subaru automaker Fuji Heavy Industries, which relies on North America for 60% of sales, added 3.8% to 4120 yen. Among other blue chip exporters, Sony Corp rose 0.1% to 3082 yen and Panasonic Corp 3.1% to 995 yen, meanwhile Toyota Motor Corp grew 1.7% to 5681 yen, Nissan Motor Co 3.8% to 1105 yen, and Mazda Motor Corp. 3.7% to 1861 yen. Alps Electric Co. added 3.1% to 2174 yen and TDK Corp 2.4% to 6430 yen. Robotics firm Fanuc Corp was up 2.4% to 16735 yen.

China Stocks closes marginally up

Mainland China stock market finished marginally higher in lighter volume amid uncertainty over the monetary policy outlook as the economy fails to show signs of a sustained recovery. Growing uncertainty over Chinas monetary policy and economic health is keeping investors from making bets in the countrys stock and money markets. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.14%, to 3,066.71, while the Shanghai Composite Index added 0.05%, to 2,822.45 points.

Total of 7 out of 10 SSE sectoral indices declined, with material issue leading loss, down 0.5%, followed by energy down 0.4% and IT down 0.3%. Telecommunication services issue ended 1.5% stronger and financial rose 0.8%.

CRRC Corp. advanced 4.4% companies after the nations only maker of high-speed locomotives announced plans to raise as much as $1.8 billion in a private share sale to repay debt and help finance its daily operations.

Hong Kong Market rises 0.26%

The Hong Kong stock market advanced on tracking positive lead from US markets on last Friday after Federal Reserve Chair Janet Yellen said a rate hike in the coming months. The benchmark Hang Seng Index advanced 52.62 points, or 0.26%, to 20629.39 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, added 29.48 points, or 0.34%, to 8624.76. Turnover increased to HK$58.5 billion from HK$55.5 billion on Friday.

BOCHK (02388) completed the sale of NCB stake to China Cinda (01359). It earned HK$30 billion from the disposal. The bank is considering special dividend payout. BOCHK jumped 1.9% to HK$23.7. China Cinda edged up 0.4% to HK$2.47.

Goldman Sachs recommended CR Power (00836), Huadian Power (01071), and China Power (02380), noting their attractive 8% dividend yields. CR Power rose 3.5% to HK$11.94. It was the top blue-chip winner today. Huadian shot up 5.8% to HK$4.02. China Power surged 5.3% to HK$3.21. Huaneng Power (00902) added 3.4% to HK$5.2.

China Life (02628) gained 0.8% to HK$17.06 on talks that it has joined hands with RXR Realty to buy New York office tower for HK$12.8 billion.

Tingyi (00322) plunged 5.3% to HK$6.83, extending a 10% fall in the previous trading day, as JP Morgan, Jefferies and Daiwa Research all lowered their target prices for the noodle manufacturer.

AAC Tech (02018) soared 6% to HK$62.6 as its managing director said in the AGM that the company plans to expand its capacity by 25% this year. Sunny Optical (02382) also jumped 4.3% to HK$26.65.

Sensex, Nifty attain highest closing level in more than 7 months

Amid a divergent trend among various index constituents, the two key benchmark indices registered small gains. The barometer index, the S&P BSE Sensex, rose 72 points or 0.27% to settle at 26,725.60. The Nifty 50 index rose 21.85 points or 0.27% to settle at 8,178.50.

Hindalco Industries surged 12.03% after the company announced strong Q4 March 2016 results. Shares of state-run coal mining giant Coal India moved higher after announcing increase in coal prices. Tata Motors edged higher ahead of the announcement of its Q4 March 2016 results. Maruti Suzuki India (MSIL) edged lower after the company announced temporary suspension of manufacturing of cars from its Manesar and Gurgaon facilities due to fire accident at the Manesar facilities of its supplier Subros.

Bharat Heavy Electricals dropped after reporting dismal Q4 March 2016 results. But, the NTPC stock shrugged off weak financial performance for Q4 March 2016. Tech Mahindra edged higher after the companys announcement that it has entered into an agreement to acquire UK based Target Group for an enterprise value of GBP 112 million.

State Bank of India (SBI) extended gains registered during the previous trading session after the banks Chairman Arundhati Bhattacharya said in a post-result conference call held on Friday, 27 May 2016, that bank proposes to contain fresh slippages ratio within 2.7% of advances in the year ending 31 March 2017 (FY 2017).

Elsewhere in the Asia Pacific region: New Zealands NZX50 inclined 0.39% to 7019.64. South Koreas KOSPI index dropped 0.1% to 1967.13. Taiwans Taiex index grew 0.85% to 8535.87. Malaysias KLCI fell 0.45% to 1629.87. Indonesias Jakarta Composite index added 0.44% to 4836.03. Singapores Straits Times index fell 0.2% to 2796.75.

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Australia Market closes near 9-month peak
May 30,2016

Australian share market closed slight higher on Monday, 30 May 2016, as gains in consumer staple, energy, realty, and consumer discretionary stocks were more than offset by losses in materials & resources and banks & financials stocks. At close of trade, the benchmark S&P/ASX 200 index inclined 2.10 points, or 0.04%, to 5408. The broader All Ordinaries added 3.90 points, or 0.07%, to 5473.60.

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