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China Market falls on profit booking
Aug 22,2016

Mainland China stock market finished in red terrain on Monday, 22 August 2016, as some investors took profits amid concern that a weaker yuan will limit prospects for further stimulus and state-backed funds will sell shares. Most of SSE sectors declined, with industrial, infrastructure and transportation shares leading losses. The CSI300 index, which tracks the largest listed companies trading in Shanghai and Shenzhen, fell 0.84% to 3336.79 points. The Shanghai Composite Index closed down 0.7% at 3084.81 points while the Shenzhen Composite index closed down 1.27% at 2018.26 points.

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Hong Kong Market gains 0.26%
Aug 22,2016

The Hong Kong stock market closed up in volatile trade on Monday, 22 August 2016, after the exchange operators launched a circuit breaker aimed at preventing extreme volatility. But gains were limited as investors sat on the fence before U.S. Federal Reserve Chair Janet Yellens speech at a symposium in Jackson Hole, Wyoming, on Friday. The benchmark Hang Seng Index rose 60.69 points, or 0.26%, to 22997.91 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, dropped 3.52 points, or 0.04%, to 9602.65. Turnover decreased to HK$69.5 billion from HK$75.8 billion on Friday.

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US stocks ended lower on Friday
Aug 22,2016

U.S. stocks finished lower on Friday, 19 August 2016 as investors worried about whether the Federal Reserve will raise interest rates sooner rather than later. The major averages ended a flat week on a similar note as early selling gave way to a partial rebound in afternoon action. Few catalysts and the expiration of August options contracts contributed to fairly lackluster moves during a week that has offered little guidance for investors about the Feds policy plans, following the release on Wednesday of minutes from the central banks July meeting.

The Dow Jones Industrial Average closed off 45.13 points, or 0.2%, to 18,552.57. S&P 500 gave up 3.15 points, or 0.1%, to finish at 2,183.87. The Nasdaq Composite Index lost 1.77 point, or less than 0.1%, at 5,238.38.

Equity indices began the day under moderate selling pressure as investors adjusted U.S. rate hike expectations and responded to a downturn in European markets. European bourses tilted to the downside as weakness in Italian banking names weighed on regional indices. Additionally, reports indicated that U.K. Prime Minister Theresa May hopes to invoke Article 50 of the Lisbon Treaty by April 2017. The move would begin formal talks for the countrys withdrawal from the European Union.

Dow was pressured by a 2% decline in shares of Wal-Mart Stores.

The broader market marched off that level through the afternoon as heavily-weighted industrials, consumer discretionary and technology sector helped lead the rebound effort. Seven sectors ended in the red with defensively-oriented telecom services and utilities rounding out the leaderboard.

Fridays moves followed comments from San Francisco Fed President John Williams, who said late Thursday, that he would like to see another rate increase n++sooner rather than later,n++ suggesting he is in the camp of central-bank officials who would like a rate increase as soon as September. Earlier this week, New York Fed President William Dudley also hinted a September rate increase was possible, while Atlanta Fed boss, Dennis Lockhart, talked about n++at least onen++ more increase this year. Minutes from the Feds July meeting released Wednesday, however, showed an almost even split between supporters of another rate increase in the near-term and others who would wait for more confidence that inflation was stirring.

The influential technology space ended near the front of the pack as top-weighted Apple outperformed. The Dow component erased a 0.7% decline, ending higher by 0.3%. The early selling followed reports of a string of insider sales. Chipmakers led in the sector as Applied Materials jumped 7.1%. The semiconductor name topped bottom-line estimates for the quarter and raised its fourth-quarter outlook above consensus.

On the energy front, September West Texas Intermediate crude added 30 cents, or 0.6%, to settle at $48.52 a barrel on the New York Mercantile Exchange. For the week, prices finished roughly 9.1%, and re-entered bull-market territory.

The U.S. Dollar Index ended off its session high as the greenback gained against the yen, euro, and pound. The dollar/yen pair ended higher by 0.3% while the single currency declined 0.2% against the buck.

The Treasury complex settled off session lows while yields gained across the curve. The yield on the 2-yr note rose five basis points (0.75%) while the yield on the 10-yr note ended at 1.58% (+4 bps).

Todays participation was above the recent average as more than 824 million shares changed hands at the NYSE floor.

There was no economic data of note released on Friday and investors will not receive any economic data on Monday.

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Moderate gains for US stocks at Wall Street
Aug 19,2016

U.S. stocks ended almost on a flat note on Thursday, 18 August 2016. Indices logged a modest return in a trading session marked by relatively muted moves for the main benchmarks as investors pored over a batch of upbeat economic data and digested signs that the Federal Reserve remains divided about the timing of the next interest-rate hike. A rise in oil prices, which pushed West Texas Intermediate crude trading on the New York Mercantile Exchange , the U.S. benchmark, helped nudge energy stocks up.

The Dow Jones Industrial Average rose 23.76 points, or 0.1%, at 18,597.70. The S&P 500 index was up 4.80 points, or 0.2%, to close at 2,187.02. The tech-heavy Nasdaq Composite Index was up 11.49 points, or 0.2%, at 5,240.15. The S&P 500 index was up 4.80 points, or 0.2%, to close at 2,187.02.

Seven out of the S&P 500s 10 sectors finished in the green, with a decline in telecommunications, limiting the run-up in oil-and-gas stocks. Dow component Wal-Mart Stores was up 1.9%, giving the blue-chip gauge a lift, while a 1.2% slide in Caterpillar shares limited the benchmarks advance. Wal-Mart reported better-than-expected profit and revenues on Thursday.

Shares in Cisco Systems fell after the maker of networking equipment late Wednesday reported better-than-expected earnings and said that it plans to cut 5,500 jobs. Dow components Exxon Mobil and Chevron ended with gains of 0.9% and 1.3%, respectively.

Equity indices struggled for direction as investors continued to adjust rate hike expectations for the year. Yesterdays release of the FOMC minutes for July indicated that Fed officials were divided on whether or not an interest rate hike would be appropriate in coming months. Specifically, concerns about the sustainability of recent hiring trends and consistently weak inflation readings compelled some members to hold off on raising rates.

The stock market ended a range-bound day on a flat note as caution prevailed despite yesterdays dovish FOMC minutes from the July meeting. Equity indices struggled for direction as investors continued to adjust rate hike expectations for the year. Yesterdays release of the FOMC minutes for July indicated that Fed officials were divided on whether or not an interest rate hike would be appropriate in coming months. Specifically, concerns about the sustainability of recent hiring trends and consistently weak inflation readings compelled some members to hold off on raising rates. On Thursday, San Francisco Fed President John Williams said he would like to see another interest rate increase n++sooner rather than later.n++

Among other Fed speakers, New York Fed President William Dudley on Thursday was upbeat about the outlook for jobs and growth, adding that time for a rate increase n++is edging closer.n++ He spoke at a morning briefing for reporters at the regional Feds bank headquarters on Wall Street.

On the economic front, jobless claims last week fell by 4,000 to 262,000, representing a one-month low, and marking the 76th straight week that claims have been below 300,000. Meanwhile, the Federal Reserve Bank of Philadelphias barometer of regional manufacturing activity rebounded slightly into positive territory in August.

The Conference Board on Thursday said its index of leading economic indicators rose 0.4% in July, signaling that moderate but steady growth could continue for the remainder of 2016.

Oil futures stretched their streak of gains to a sixth session in a row Thursday to settle at their highest level in nearly two monthsn++lifting crude into a bull market. September West Texas Intermediate crude rose $1.43, or 3.1%, to settle at $48.22 a barrel on the New York Mercantile Exchange.

Data from the Energy Information Administration Wednesday showed weekly declines for both crude and gasoline inventories, prompting prices that day to settle higher for a fifth session.

Treasuries ended the day on a higher note as the short-end of the curve enjoyed a decent bid. The yield on the 2-yr note settled lower by two basis points (0.71%) while the yield on the benchmark 10-yr note slipped one basis point to 1.53%.

Todays participation was below the recent average as fewer than 737 million shares changed hands at the NYSE floor.

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Minor gains at Wall Street
Aug 18,2016

U.S. stocks closed slightly higher on Wednesday, 17 AUgust 2016 after sharply paring earlier losses as minutes from the Federal Reserves July meeting showed policy makers remained divided on prospects for a near-term rate increase. Stocks bounced off session lows after St. Louis Fed President James Bullard said that with U.S. growth trending below 2%, interest rates can stay low.

The Dow Jones Industrial Average rose 21.92 points, or 0.1%, to close at 18,573.94, after being down as many as 83 points earlier in session. The Nasdaq Composite Index finished up 1.55 points at 5,228.66, after being down about 30 points earlier. The S&P 500 index rose 4.07 points, or 0.2%, to close at 2,182.22 overcoming an earlier 10-point deficit.

Seven out of 10 sectors closed higher, led by gains in utilities and financial stocks. Tech, consumer-discretionary, and materials stocks closed lower.

Meanwhile, Cisco Systems shares dragged on the average, down 1.5%. Shares of 3M and Pfizer led gains.

Stocks ended the midweek affair on a flat note as market participants walked back recently-adjusted rate hike expectations for the year. The change in thinking followed some dovish remarks from St. Louis Fed President Bullard (an FOMC voter) and less hawkish-than-feared minutes from the FOMCs July meeting. Later, following a small pullback following the release of the Fed minutes, stocks had fluctuated between slight gains and losses after the minutes revealed that Fed officials were largely unchanged in their debate over interest rate hikes.The Fed minutes for July also helped to brush away lingering rate hike angst. The minutes indicated that the Federal Open Market Committee was split on whether or not an interest rate hike would be appropriate in the coming months. The committee agreed that economic data and labor markets had improved, but the sustainability of hiring and inflation continuing to run below the two percent objective worried some members. Several members said they preferred to defer another increase in the fed funds rate until they were more confident that inflation was moving closer to two percent on a sustained basis.

The market shifted gears shortly after midday as reports indicated that German Chancellor Merkel signaled that there would be some scope for tax cuts in the Germanys next legislative session. That headline seemed to stoke some risk appetite as investors eyed potential fiscal stimulus measures, which have been lacking in the midst of very aggressive monetary policy accommodations.

With no significant changes in economic activity, some risks from the U.K.s vote to leave the European Union, and low inflation, the Fed is still very much divided over the subject of raising interest rates while leaving the door open for a possible rate hike this year.

Wednesdays stock moves come after the three main benchmarks closed lower on Tuesday, amid warnings that an interest-rate rise could come as soon as September, which helped drag stocks off their all-time highs. Todays economic data included the weekly MBA Mortgage Index: The MBA Mortgage Index showed that mortgage applications fell 4.0% in the week ending August 13 after a 7.1% increase in the prior week.

The dollar rose after those remarks and climbed early Wednesday, but shifted lower after the Fed minutes. The ICE U.S. Dollar Index was down fractionally at 94.78.

Oil prices settled 0.5% higher at $46.79 a barrel after the Fed minutes even as hopes for a production-freeze agreement started to fade.

Gold futures slipped from their two-week high, settling 0.6% lower at $1,348.80 an ounce.

Treasuries ended the day on a higher note, enjoying a decent bid across the complex. The yield on the 10-yr note slipped two basis points to 1.55%.

Todays participation was below the recent average as fewer than 766 million shares changed hands at the NYSE floor.

Tomorrows economic data will include weekly initial claims (consensus 265k) and the Philadelphia Fed Survey for August (consensus 0.5), which will each be released at 8:30 a.m. ET. The Leading Indicators report for July (consensus 0.4%) will conclude the days data, crossing the wires at 10:00 a.m. ET.

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US stocks close at session lows
Aug 17,2016

U.S. stocks closed at session lows on Tuesday, 16 August 2016 a day after notching record highs, as investors weighed hawkish comments by Federal Reserve officials against sharp gains for oil futures, a weakening dollar and fresh consumer-price data that showed U.S. inflation remains tepid.

The Dow Jones Industrial Average closed down 84.03 points, or 0.5%, at 18,552.02. The S&P 500 index fell 12 points, or 0.6%, to close at 2,178.15. The Nasdaq Composite Index finished down 34.90 points, or 0.7%, at 5,227.11, after setting record closing levels for three sessions in a row.

Dow components were pressured by declines in both Johnson & Johnson and Verizon Communications. Nine out of 10 sectors traded lower, led by drop in telecom stocks.

The S&P 500, Dow industrials, and Nasdaq Composite all set all-time closing highs on Monday, marking the second time in three sessions that all three indexes notched records on the same day.

William Dudley, president of the New York Federal Reserve Bank, on Tuesday said the time for another interest-rate increase is approaching and a rate increase as soon as September is a possibility, adding to the selling pressures on U.S. equities.

Also weighing on stocks was a report showing the U. S.consumer-price index was unchanged in July. Separately, the Commerce Department said that housing starts rose to their second-highest rate since the recession on multifamily-home rebound. And industrial production in July saw the biggest one-month gain in 20 months, suggesting that the factory sector could be on the mend.

Overnight, San Francisco Fed President John Williams said the central bank should consider aiming for higher inflation than the current 2% target. The current target n++is not well suitedn++ for the new low-interest-rate era because there is simply not enough room for central banks to cut interest rates in response to an economic downturn.

Among individual companies, Home Depot shares slid 0.4% after the do-it-yourself retailer reported same-store sales rose 5.4% in the second quarter.

As the dollar pulled lower, gold rose to its highest level in two weeks, settling up 0.7% at $1,356.90 an ounce.

Data also showed inflation in the U.K. rose a forecast-beating 0.6% in July, on fallout from the Brexit vote, which made imported goods pricier in that country.

The U.S. Dollar Index ended off its worst level as the euro and yen pared gains against the greenback. The single currency advanced 0.9% against the buck while the dollar/yen pair ended lower by 1.0%.

Treasuries ended the day near their lows. The yield on the benchmark 10-yr note settled higher by two basis points at 1.57% while the yield on the 2-yr note edged up two basis points to 0.75%.

Todays participation was below the recent average as fewer than 730 million shares changed hands at the NYSE floor.

Tomorrows economic data will be limited to the 7:00 a.m. ET release of the MBA Mortgage Index and the 2:00 p.m. ET release of the FOMC Minutes from the July meeting. Tucked in between the Department of Energy will release its closely-followed inventory report at 10:30 a.m. ET.

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Asia Pacific Market: Stocks trade sluggish
Aug 16,2016

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

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

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

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

Among Asian bourses

Japan Market closed down

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

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

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

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

ASX200 falls 0.14%

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

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

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

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

China Market falls on profit booking

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

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

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

Hong Kong Stocks closed flat

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

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

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

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

Indian indices register small losses

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

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

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

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

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Hong Kong Stocks closed flat
Aug 16,2016

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

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ASX200 falls 0.14%
Aug 16,2016

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

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Japan Market closed down
Aug 16,2016

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

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Strong gains at Wall Street
Aug 12,2016

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Japan Stock market closed for the Mountain Day public holiday

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ASX200 falls 0.64%
Aug 11,2016

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

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