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US stocks end at record highs
Dec 06,2016

US stocks closed higher on Monday, 05 December 2016 as the Dow Jones Industrial Average finished at a record on Monday as solid economic data offset concerns about Europes stability in the wake of a rejection of Italys vote on Sunday to reform existing constitutional rules. The broader stock market rose after a survey showed that the services side of the economy grew at its fastest pace in November in a year. The Institute of Supply Management non manufacturing index climbed to 57.2 last month. Any reading over 50 indicates economic expansion.

The Dow Industrials rose 45.82 points, or 0.2%, to end at 19,216.24, after touching an intraday record of 19,274.85. The Nasdaq Composite Index advanced 53.24 points, or 1%, to finish at 5,308.89. The S&P 500 index climbed 12.76 points, or 0.6%, to close at 2,204.71 with financials and technology sectors leading the index higher.

Visa, Nike and Goldman Sachs Group were the top gainers on the Dow.

Equity indices enjoyed an upbeat start, rising alongside European stocks, even though the results of the constitutional reform referendum in Italy will invite political uncertainty going forward.

U.S. stocks jumped in November as investors bet that fiscal policies of President-elect Donald Trumps administration, such as tax cuts and infrastructure spending, will can help to boost the economy. Investors are also expecting the Federal Reserve, which meets next week, to raise interest rates for the first time since last December.

On Thursday, the European Central Bank will hold its regular monetary-policy meeting to decide on the scope of its quantitative easing and other measures, and analysts largely expect that will include some extension of its asset-buying program.

Economic data on Mon day was was limited to ISM Services. The ISM Services Index rose to 57.2 in November from 54.8 in October while the consensus expected an increase to 55.6. This report marked a 12-month high for the series, reaching levels from October 2015.

Crude oil retreated from its 17-month high hit earlier in the session ahead of this weekends non-OPEC producer meeting in Vienna, Austria to hammer out the details of the 600k barrel/day non-OPEC portion of the supply cut announced last Wednesday. Jan 2017 crude oil futures rose $0.05 (+0.1%) to $51.73/barrel. Natural gas surged to end at its highest level of the session ahead of Thursdays EIA Jan 2017 natural gas closed $0.21 higher (+6.1%) at $3.65/MMBtu.In precious metals, gold rebounded from levels near its 10-month low and silver closed at session highs on notable dollar weakness. Feb 2017 gold ended Mondays session down $1.10 (-0.1%) to $1,176.60/oz. March 2017 silver closed session $0.09 higher (+0.5%) at $16.92/oz.

Mondays participation was just below average as 915 million shares changed hands at the NYSE floor.

Tomorrow, Q3 Productivity (consensus 3.3%), Unit Labor Costs (consensus 0.2%), and October Trade Balance (consensus -$41.80 billion) will be released at 8:30 ET while October Factory Orders (consensus 2.5%) will cross the wires at 10:00 ET.

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Asia Pacific Market: Stocks slips on euro-zone uncertainty
Dec 05,2016

Headline equities of the Asia Pacific market declined on Monday, 05 December 2016, as investors flew away from riskier assets amid concerns about implications of the resignation of Italian Prime Minister Matteo Renzi after he suffered a humiliating defeat in a referendum over constitutional reforms.

Italian Prime Minister Matteo Renzis announced his resignation hours after losing a referendum on constitutional reform held Sunday. Italians voted against proposed reforms that would have curtailed the size and powers of the Senate and transferred powers from regions to the national government. Opposition parties had denounced the proposed amendments to the constitution as dangerous for democracy because they would have removed important checks and balances on executive power. The defeat and Renzis departure threatens to plunge Italy into a new phase of political uncertainty and possible economic turmoil. Some analysts fear a deeper crisis of investor confidence that could derail a rescue scheme for Italys most indebted banks, triggering a wider financial crisis across the eurozone.

The referendum outcome could be taken as another sign of rising anti-establishment sentiment in the core of Europe, potentially eroding investor confidence in the euro ahead of elections in the Netherlands, France and Germany next year.

Investors largely shrugged off data released Friday that showed the US unemployment rate at a nine-year low in November. The U.S. unemployment rate fell to a nine-year low of 4.6% in November, as employers added another 178,000 jobs, making it almost certain that the Federal Reserve will raise interest rates later this month.

Among Asian bourses

Australia Market slips 0.8%

Australian share market closed session in red terrain, as risk sentiments undermined after Italian Prime Minister Matteo Renzi indicated he would resign following heavy defeat on constitutional referendum, raising political uncertainty in the euro zone. Renzis decision to quit deals a fresh blow to the European Union at a time when Italy, the euro zones heavily indebted third-largest economy, is struggling to overcome a raft of crises. His defeat also prompts fresh ructions in markets, especially in the banking sector which has lost almost half its value this year on the Milan bourse, on fears over its huge exposure to bad loans accumulated during years of economic downturn. Most of the ASX sectors declined, with healthcare, consumer staples, consumer discretionary, industrials, energy, and financial issues being notable losers. At the closing bell, the benchmark S&P/ASX 200 index fell 43.60 points, or 0.8%, to 5400.40, while the broader All Ordinaries index declined 44.60 points, or 0.81%, to close at 5458.

Shares of healthcare, consumer goods and retailers were worst performers among ASX sectors. Among healthcare players, CSL declined 2.5% to A$95.64, RasMed 1.4% to A$7.90, and Cohlear 1.1% to A$115.70. Among consumer goods and retailers, Woolsworth dropped 1.1% to A$22.69 and Harvey Norman sank 3.7% to A$4.68. Myer sank 2% to A$1.25 and Coca Cola Amatil slipped 2% to A$9.36.

Shares of financial players sank, with big four banks being major losers. Among major banks, Westpac declined 1.2% to A$30.97, Australia & New Zealand Banking Group 1.1% to A$28.16, Commonwealth Bank of Australia 1.2% to A$77.68, and National Australia Bank 1% to A$28.77.

Utilities were the best performers among ASX sectors, thanks to an unsolicited and generous-looking bid for gas pipelines owner DUET Group, which sparked a 16% jump in the stock. APA Group added 1.3% and Spark 2.3%.

Shares of mining companies advanced, getting support from jump in Dalian iron ore futures by 4.5% during the session. BHP ended up 0.6% to A$25.18, while Rio added 1% to A$58.61 and Fortescue 1.8% to A$6.26. South32 climbed 2.5%.

Nikkei falls 0.82%

The Japan share market closed session in negative territory, as investors kept to the sidelines after Italian voters rejected constitutional changes, raising questions over whether Italy will stay in the European Union and keep using the euro. Investors largely shrugged off data released Friday that showed the US unemployment rate at a nine-year low in November, all but guaranteeing an interest rate hike before the end of the year. Total 26 out of 33 TSE industry category on the main section lost ground, with Banks, Real Estate, Services, Construction, Insurance, Air Transportation, Electric Power & Gas, and Mining issues being major losers. The 225-issue Nikkei average lost 151.09 points, or 0.82%, to close at 18,274.99. The Topix index of all first-section issues finished down 11.02 points, or 0.75%, at 1,466.96.

Shares of lenders suffered heavy damage on concerns about impact of Italian Prime Minister Matteo Renzi defeat on constitutional reform that could destabilise the countrys shaky banking system. Banking giant Mitsubishi UFJ sank 2.39% to 708.7 yen and rival Mizuho Financial Group fell 3.30% to 208.3 yen, while Toyota was off 0.86% to end the session at 6,628 yen.

Panasonic ended 0.16% higher at 1,206.5 yen after the Nikkei business daily reported that the electronics giant plans to purchase European automotive lighting company ZKW in a deal valued at about 100 billion yen.

Mobile game company DeNA fell again, dropping 5.63% to 3,100 yen, as it suspended its information websites over concerns about the accuracy of medical articles and other allegations.

China Stocks fall as regulator warns against barbaric share acquisitions

Mainland China stock market ended sharp down, with the blue-chip stocks suffered heavy fall after Chinas top securities regulator warned against barbaric share acquisitions, though small-caps were firm as the Shenzhen-Hong Kong investment link went live. The broader market sentiment was also cautious as investors and Europes politicians fear Italian Prime Minister Matteo Renzis resignation represents a fresh blow to the European Union. The Shanghai Composite Index dropped 1.2%, to 3,204.71, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, fell 0.78% to 2,068.17. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, rose 0.02% to close at 2,143.88 points.

The chairman of Chinas securities regulator condemned n++barbaricn++ leveraged company buyouts by some asset managers using illegal funds, according to a statement posted on the China Securities Regulatory Commission (CSRC) website Saturday. n++Youve ultimately become a robber in the industry, and that is unacceptable,n++ CSRC Chairman Liu Shiyu said during his strong-worded speech at a meeting held by the Asset Management Association of China, a self-regulatory body that oversees private funds in the country. Liu said Chinas capital markets had seen a series of n++abnormal phenomenan++ lately, challenging the bottom line of Chinas financial law and regulations. n++Funneling public funds into leveraged acquisition means ordinary investors will ultimately bear the risks,n++ he said, underscoring this is absolutely not n++financial innovation.n++ Lius criticism is seen as partly alluding to recent instances of high profile acquisitions in the A-share market, including a bid by property developer China Evergrande Group to acquire 14.07% shares of its peer China Vanke Co. with 36.27 billion yuan (US$5.26 billion). In a commentary responding to Lius comments Saturday, financial magazine Yicai said the CSRC might have already collected evidence of illegal insurance funds used in some buyout deals via tender offers or banner acquisitions, citing unnamed sources in the industry.

A long-awaited stock link between Chinas gigantic Shenzhen and neighboring Hong Kong stock markets launched on Monday, giving foreign investors access to some of the fastest growing private-owned companies in the worlds second biggest economy. As expected, small caps were the early beneficiaries of the stock connect scheme with the Hong Kong small cap index rising 0.5%, bucking the broader downturn in the markets. On the mainland, the tech-heavy ChiNext sub-index which is the equivalent of the Nasdaq, was up 0.1%. The launch of the Shenzhen-Hong Kong link was hobbled by the fallout from the stock market crash last year and comes two years after authorities kicked off the Shanghai-Hong Kong connect scheme.

Hong Kong Stocks end lower after Italian PM quits

The Hong Kong stock market finished session lower, as investors assessed the implications of the resignation of Italian Prime Minister Matteo Renzi after he suffered a humiliating defeat in a referendum over constitutional reforms. Investors largely shrugged off launch of the long-awaited Shenzhen-Hong Kong Stock Connect today, which will give mainland investors access to Hong Kong-listed stocks, and allow international investors to trade Shenzhen-listed stocks. The Hang Seng Index ended down 0.26%, or 59.27 points, to 22,505.55, while the Hang Seng China Enterprises index declined 0.71%, or 69.43 points, to 9,711.80. Turnover decreased to HK$68.8 billion from HK$80.9 billion on Friday.

HKEx (00388) bore the brunt of the lackluster connect program. It fell 2.7% to HK$197.4. Both CITIC Securities (06030) and Haitong Securities (02208) dipped 2.3% to HK$17.18 and HK$14.5.

CK Hutchison (00001) softened 0.4% to HK$93.4 as the company was served an order from the Indian tax authorities for capital gains tax. CK Property (01113) has agreed to buy aircraft leasing business from CKH. Nomura is positive to the deal, but CKP slipped 1.3% to HK$51.

The CSRC Chairman Liu Shiyu strongly criticised that barbarian acquisition challenged the rules of the country. China Vanke (02202) plunged 7% to HK$21.7. Evergrande (03333) dipped 1.3% to HK$5.24.

Japanese gaming shares skyrocketed in Hong Kong after the countrys ruling Liberal Democratic Party took a step further to push ahead with the legalisation of casino gambling in Asias second largest economy. The sharp rally came as the legislation to legalise casino gambling in Japan passed a lower house committee in parliament last Friday following just six-plus hours of debate, amid the backing of Prime Minister Shinzo Abes government that is expected to fuel a tourism boom in casino resorts. The casino bill was pushed forward by the governing Liberal Democratic Party which attempted to get it passed in a plenary session of the lower house of the parliament as early as Tuesday. Niraku GC Holdings, a Japanese operator of pinball-like pachinko parlours, skyrocketed 103% to HK$1.42. DYNAM JAPAN (06889) also soared 37% to HK$15.18.7. Among Macau gaming players, Galaxy Entertainment (00027) rose 2.5% to HK$36.65. Sands China (01928) also added 2% to HK$37.25.

Sensex, Nifty trade higher

Indian benchmark indices jumped in mid-afternoon tradeon fresh buying by investors in select blue-chips even as most Asian markets retreated after Italys Prime Minister resigned following a heavy referendum defeat. The emergence of buying in select blue-chip stocks amid hopes that the RBI will lower interest rates at its policy review on Wednesday, influenced sentiments. However, a weak trend in other Asian bourses after Italys Prime Minister Matteo Renzi resigned following a heavy referendum defeat, forced investors to keep their commitments restricted. The Sensex rose 145.81 points, or 0.56% at the days high of 26,376.47 in mid-afternoon trade. The Nifty rose 49.85 points, or 0.62% at the days high of 8,136.65 in mid-afternoon trade.

South India based broadcasting and cable television companies were trading higher on the back of higher volume. Raj Television shares were trading 14% higher. Sun TV Network shares were trading 11.78% higher.

The latest data released by Markit Economics showed that Indias services sector activity declined sharply last month as cash shortages hit the sector in the wake of the governments move to demonetise higher denomination notes. The seasonally adjusted headline Nikkei India Services Business Activity Index dropped to 46.7 in November, from 54.5 in October, registering contraction for the first time since June 2015 and pointed to the sharpest reduction in output for almost three years.

Elsewhere in the Asia Pacific region: New Zealands NZX50 declined 0.7% to 6854.71. Indonesias Jakarta Composite index added 0.4% to 5268.31. Taiwans Taiex sank 0.3% to 9160.66. South Koreas KOSPI index was down 0.4% to 1963.36. Malaysias KLCI fell 0.2% to 1624.97. Singapores Straits Times index added 0.8% to 2943.05.

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Hong Kong Stocks end lower after Italian PM quits
Dec 05,2016

The Hong Kong stock market finished session lower on Monday, 05 December 2016, as investors assessed the implications of the resignation of Italian Prime Minister Matteo Renzi after he suffered a humiliating defeat in a referendum over constitutional reforms. Investors largely shrugged off launch of the long-awaited Shenzhen-Hong Kong Stock Connect today, which will give mainland investors access to Hong Kong-listed stocks, and allow international investors to trade Shenzhen-listed stocks. The Hang Seng Index ended down 0.26%, or 59.27 points, to 22,505.55, while the Hang Seng China Enterprises index declined 0.71%, or 69.43 points, to 9,711.80. Turnover decreased to HK$68.8 billion from HK$80.9 billion on Friday.

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Nikkei falls on eurozone uncertainty
Dec 05,2016

The Japan share market closed session in negative territory on Monday, 05 December 2016, as investors kept to the sidelines after Italian voters rejected constitutional changes, raising questions over whether Italy will stay in the European Union and keep using the euro. Investors largely shrugged off data released Friday that showed the US unemployment rate at a nine-year low in November, all but guaranteeing an interest rate hike before the end of the year. Total 26 out of 33 TSE industry category on the main section lost ground, with Banks, Real Estate, Services, Construction, Insurance, Air Transportation, Electric Power & Gas, and Mining issues being major losers. The 225-issue Nikkei average lost 151.09 points, or 0.82 percent, to close at 18,274.99. The Topix index of all first-section issues finished down 11.02 points, or 0.75%, at 1,466.96.

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China Stocks fall as regulator warns against barbaric share acquisitions
Dec 05,2016

Mainland China stock market ended sharp down on Monday, 05 December 2016, with the blue-chip stocks suffered heavy fall after Chinas top securities regulator warned against barbaric share acquisitions, though small-caps were firm as the Shenzhen-Hong Kong investment link went live. The broader market sentiment was also cautious as investors and Europes politicians fear Italian Prime Minister Matteo Renzis resignation represents a fresh blow to the European Union. The Shanghai Composite Index dropped 1.2%, to 3,204.71, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, fell 0.78% to 2,068.17. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, rose 0.02% to close at 2,143.88 points.

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Australia Market slips on euro-zone uncertainty
Dec 05,2016

Australian share market closed session in red terrain on Monday, 05 December 2016, as risk sentiments undermined after Italian Prime Minister Matteo Renzi indicated he would resign following heavy defeat on constitutional referendum, raising political uncertainty in the euro zone. Renzis decision to quit deals a fresh blow to the European Union at a time when Italy, the euro zones heavily indebted third-largest economy, is struggling to overcome a raft of crises. His defeat also prompts fresh ructions in markets, especially in the banking sector which has lost almost half its value this year on the Milan bourse, on fears over its huge exposure to bad loans accumulated during years of economic downturn. Most of the ASX sectors declined, with healthcare, consumer staples, consumer discretionary, industrials, energy, and financial issues being notable losers. At the closing bell, the benchmark S&P/ASX 200 index fell 43.60 points, or 0.8%, to 5400.40, while the broader All Ordinaries index declined 44.60 points, or 0.81%, to close at 5458.

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US stocks ended week on a flat note
Dec 05,2016

U.S. stocks struggled for direction on Friday, 02 December 2016 with the Dow industrials finishing lower and the S&P 500 and the Nasdaq closing slightly higher as investors digested a weaker-than-expected payroll report, favoring sectors viewed as safe in economically uncertain times. Wall Street has rallied over the past three weeks, with major indexes hitting a series of records since the U.S. presidential election. Investors are betting that President-elect Donald Trump will advocate for policies, such as tax cuts and deregulation, that could accelerate economic growth.

The Dow Jones Industrial Average which flipped between gains and losses, closed down 21.51 points, or 0.1%, at 19,170.42, for a weekly gain of 0.1%, barely continuing a four-week winning streak. The Nasdaq Composite Index closed up 4.55 points, or 0.1%, at 5,255.65, for a weekly loss of 2.7%, its worst weekly decline since before the 8 November election. The S&P 500 surrendered a seven-point gain to end just above its flat line at 2,191.9.

The stock market ended a down week on a flat note. For the week, the S&P 500 lost 1.0%, the Nasdaq fell 2.7%, and the Dow ticked up 0.1%. The blue-chip average was led lower by shares of Goldman Sachs Group and Caterpillar.

Prior to the open, investors received the November Employment Situation report. The uncertainty was underlined by the November jobs report, which showed 178,000 jobs added in the month, fewer than had been expected, while the count over the prior two months was reduced. However, the jobless rate fell sharply to a nine-year low of 4.6%. While the number of new jobs pointed to a labor market that continues to improve, it also suggested a moderation in growth, though not one severe enough to influence the expectation that the Federal Reserve would raise interest rates in December.

Equity indices climbed through the first two hours of action, but relative strength among four of five countercyclical sectors was not enough to offset losses in heavily-weighted groups like consumer discretionary, financials and industrials sectors.

Treasuries climbed alongside other sovereign debt, as participants employed caution ahead of a weekend constitutional reform referendum in Italy.

Crude oil rose 1.2% to settle at $51.68 a barrel, extending its recent advance. The commodity has soared more than 12% this week, the largest weekly gain of the year, following an agreement by OPEC to cut product seen as necessary to stabilizing prices.

The ICE dollar index was down 0.4% at 100.69, while gold settled up 0.7% at $1,177.80 an ounce, supported by the weaker dollar.

Fridays participation was shy of the 200-day average of 926 million as 882 million shares changed hands at the NYSE floor.

Mondays economic data will be limited to the 10:00 ET release of November ISM Services (consensus 55.6).

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Asia Pacific Market: Stocks sluggish ahead of US payroll data
Dec 02,2016

Asia Pacific share market ended lower on Friday, 02 December 2016, as investors flew to lock-in recent gains on caution ahead of the release of U.S. jobs data for November later on Friday and Italys national referendum on constitutional amendments on Sunday

Investors are closely watching the U.S. employment data in search of a clue about whether the Fed will carry out an interest rate hiken++ at its Federal Open Market Committee meeting in December in line with growing market expectations.

On Sunday, Italy votes on constitutional reform. The result is being closely watched for its potential to topple the government with Italys heavily indebted banks already close to peril.

Crude Oil prices slipped on Friday as some investors opted to cash out after Brent touched a 16-month high on Thursday, with optimism over this weeks OPEC-Russia accord on cutting output giving way to questions on the sticking point of implementing the deal. Crude prices on Friday were pressured by data showing oil output in Russia rose in November to a post-Soviet high and news that Moscow would use its record November oil production as its baseline when it cuts output. U.S. West Texas Intermediate (WTI) futures settled up 62 cents, or 1.2%, at $51.68. The 5-day gain of 12.2% was the best weekly performance since February, 2011. The Organization of the Petroleum Exporting Countries, which accounts for a third of global oil supply, will reduce production starting in January by 1.2 million barrels per day, or over 3%, to 32.5 million bpd. As part of the OPEC deal, Russia has promised to gradually cut its crude output by up to 300,000 barrels per day in the first half of 2017. Russia and other non-OPEC producer are set to meet with OPEC on Dec. 9.

Among Asian bourses

Nikkei closes down

The Japan share market ended lower, as investors opted to lock in profits prior to closely watched events (US jobs data and a weekend Italian referendum). The 225-issue Nikkei average lost 87.04 points, or 0.47%, to close at 18,426.08. The Topix index of all first-section issues finished down 5.29 points, or 0.36%, at 1,477.98. Falling issues outnumbered rising ones 1,172 to 700 in the TSEs first section, while 118 issues were unchanged. Volume slightly increased to about 2.83 billion shares from Thursdays about 2.82 billion shares.

A pause in the yens recent weakening battered export-oriented names, including automakers Toyota, Honda and Fuji Heavy and industrial robot manufacturer Fanuc. Apple parts suppliers, such as Murata Manufacturing and Alps Electric, met with selling on a new report that the U.S. technology giant is reducing orders for iPhone 7 with suppliers due to worries about excess inventories. Other major losers included mobile game site operator DeNA, game maker Nintendo, mobile phone carrier KDDI and retail giant Seven & I Holdings.

By contrast, mega-banks Mitsubishi UFJ, Sumitomo Mitsui and Mizuho, brokerage firm Nomura and insurer Tokio Marine were buoyant in line with higher yields on Japanese government bonds after yields on 10-year U.S. Treasuries jumped to their highest levels since June 2015.. Oil Company Inpex, trading houses Mitsui and Mitsubishi and steel makers JFE Holdings and Nippon Steel & Sumitomo Metal were also on the plus side.

Australia Market falls on profit taking

Australian share market finished session deeply in red, as a reversal of the mining rally and profit taking. With the exception of gold producers, every sector was down, with energy and financial issues leading losses on profit booking. At the closing bell, the benchmark S&P/ASX 200 index fell 56.20 points, or 1.02%, to 5444, while the broader All Ordinaries index declined 57.80 points, or 1.04%, to close at 5502.60.

Energy and mining stocks were biggest drag on the benchmark index today on profit taking following strong yesterday gain. Among energy players, Woodside Petroleum sank 1.9% to A$30.94, Oil Search 0.1% to A$7.03, and Santos 0.5% to A$4.37. Among mining shares, BHP Billiton dropped 2.3% to A$25.02 and Rio Tinto 1.1% to A$58.04. Iron ore miner Fortescue Metals Group fell 3.2% to A$6.15.

Shares of financial players snapped their three-day winning streak, with big four banks being major losers. Among major banks, Westpac declined 1% to A$31.34, Australia & New Zealand Banking Group 0.8% to A$28.46, Commonwealth Bank of Australia 1.2% to A$78.60, and National Australia Bank 1.1% to A$29.07.

Bellamys was down 44% to close at A$6.85 after baby foods maker said that new import rules in China had created a supply glut that was hurting sales. Other China-exposed plays such as Bega Cheese and Blackmores were also languishing down 6.3% and 3.6% respectively.

China Stocks fall back on profit-taking

Mainland China stock market turned down on Friday, 02 December 2016, pushed down by selling to lock in profits following previous gains and on caution ahead of closely watched events. The Shanghai Composite Index dropped 0.9%, to 3,243.84, while the smaller Shenzhen Component Index closed 1.58% lower at 10,912.63 points. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, lost 1.76% to close at 2,143.45 points.

Securities, insurance, and telecommunications were among the days biggest losers. Leading telecom company China Unicom slumped 6.68% to close at 6.84 yuan per share. Bucking the trend, oil and gas shares extended strong performances on Friday, with oil giant Sinopec gaining 4.36% to end the day at 5.5 yuan per share.

Next week, Chinas stock market will see around 54.8 billion yuan of locked-up shares released for trading, and the stock connection between Hong Kong and Shenzhen will open on December 5, allowing investors to buy and sell shares on each others markets.

Hong Kong Stocks end sharply lower

The Hong Kong stock market finished session lower, as investors locked in gains ahead of U.S. jobs data later in the session and a weekend Italian referendum on Sunday. The Hang Seng Index ended down 1.37%, or 313.41 points, to 22,564.82 while the Hang Seng China Enterprises index declined 1.12%, or 111.08 points, to 9,781.23. Turnover increased to HK$80.9 billion from HK$74.8 billion on Thursday.

Casino players tumbled after reports that visitors carrying more than MOP120,000 cash entering Macau need to declare to the customs. Deutsche Bank said the curb add risks to Macau gaming industry. Sands China (01928) and Galaxy Entertainment (00027) slid 4% and 5% to HK$35.6 and HK$35.75. The stocks were the top blue-chip losers. Wynn Macau (01128) plunged 5% to HK$13.16.

HKEx (00388) softened 1% to HK$202.8 as the Connect factor failed to inspire buying. Mainland insurers retreated, with China Life (02628) and Ping An (02318) falling 3% and 2% to HK$21.7 and HK$41.9.

China Taiping (00966) acquired a 9% stake in Emperor Capital (00717). China Taiping dipped 3% to HK$17.42. Emperor Capital weakened by 1.2% to HK$0.81.

Sensex falls on global worries

Indian stock market extended losses for second straight session as investors hit the exit button amid mounting global concerns. Participants are in a wait-and-watch mode ahead of US jobs report as well as Italys constitutional referendum on Sunday, which could determine whether or not the country will remain in the Eurozone. Caution also prevailed ahead of the Reserve Banks policy review next week, leading to fall in banking counters. Sustained foreign capital outflows also affected the market sentiment. Foreign funds sold shares worth a net Rs402.62 crore on Thursday, as per provisional data released by the stock exchanges. All the sectoral indices, led by consumer durables, FMCG and auto, ended with losses up to 2.32% as selling pressure intensified. The BSE Sensex ended down 329.26 points, or 1.24% , lower at 26,230.66, its lowest closing since 28 November. The NSE 50-share Nifty dropped by 106.10 points or 1.30% to close at 8,086.80.

IndusInd Bank lost 2.1%. The bank said it proposes to raise funds by issue and allotment of senior unsecured redeemable non-convertible long term bonds in the nature of debentures (infrastructure bonds) for cash aggregating to Rs 1500 crore on private placement basis. The borrowing shall be within the overall borrowing limits of the bank as may be approved by the shareholders from time to time.

Tata Motors fell 3.5% after the company reported flat sales in November 2016. Tata Motors said its passenger and commercial vehicle total sales in November 2016 were at 38,900 units, almost flat compared with 38,918 vehicles sold in November 2015. The companys domestic sales of Tata commercial and passenger vehicles declined 6% to 33,274 units in November 2016 over November 2015. Exports surged 57% to 5,626 units in November 2016 over November 2015.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was down 0.4% to 6904.85. Indonesias Jakarta Composite index added 0.9% to 5245.96. Taiwans Taiex sank 0.8% to 9189.49. South Koreas KOSPI index was down 0.7% to 1970.61. Malaysias KLCI grew 0.2% to 1628.96. Singapores Straits Times index fell 0.3% to 2919.37.

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Hong Kong Stocks end sharply lower
Dec 02,2016

The Hong Kong stock market finished session lower on Friday, 02 December 2016, as investors locked in gains ahead of U.S. jobs data later in the session and a weekend Italian referendum on Sunday. The Hang Seng Index ended down 1.37%, or 313.41 points, to 22,564.82 while the Hang Seng China Enterprises index declined 1.12%, or 111.08 points, to 9,781.23. Turnover increased to HK$80.9 billion from HK$74.8 billion on Thursday.

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China Stocks fall back on profit-taking
Dec 02,2016

Mainland China stock market turned down on Friday, 02 December 2016, pushed down by selling to lock in profits following previous gains and on caution ahead of closely watched events. The Shanghai Composite Index dropped 0.9%, to 3,243.84, while the smaller Shenzhen Component Index closed 1.58% lower at 10,912.63 points. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, lost 1.76% to close at 2,143.45 points.

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Nikkei closes down ahead of US jobs data
Dec 02,2016

The Japan share market ended lower on Friday, 02 December 2016, as investors opted to lock in profits prior to closely watched events (US jobs data and a weekend Italian referendum). The 225-issue Nikkei average lost 87.04 points, or 0.47 percent, to close at 18,426.08. The Topix index of all first-section issues finished down 5.29 points, or 0.36 percent, at 1,477.98. Falling issues outnumbered rising ones 1,172 to 700 in the TSEs first section, while 118 issues were unchanged. Volume slightly increased to about 2.83 billion shares from Thursdays about 2.82 billion shares.

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Australia Market falls on profit taking
Dec 02,2016

Australian share market finished session deeply in red on Friday, 02 December 2016, as a reversal of the mining rally and profit taking. With the exception of gold producers, every sector was down, with energy and financial issues leading losses on profit booking. At the closing bell, the benchmark S&P/ASX 200 index fell 56.20 points, or 1.02%, to 5444, while the broader All Ordinaries index declined 57.80 points, or 1.04%, to close at 5502.60.

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Australia Market ends softer
Nov 30,2016

Australian share market closed lower on Wednesday, 30 November 2016, as falling oil and metal prices hit miners and energy stocks. At the closing bell, the benchmark S&P/ASX 200 index fell 17 points, or 0.31%, to 5440.50, while the broader All Ordinaries index declined 18.10 points, or 0.33%, to close at 5502.40.

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Asia Pacific Market: Stocks gain on upbeat global cues
Nov 30,2016

Asia Pacific share market closed mostly higher on Wednesday, 30 November 2016, on following upbeat cues from Wall Street overnight, but gains were capped as investors remained cautious ahead of an OPEC meeting and Italys referendum result.

Market participants risk sentiments muted on growing concerns for an interest rate increase in December by the U.S. Federal Reserve on the back of an upward revision to U.S. gross domestic product data for July-September.

The US economy grew at the fastest pace in over two years in the third quarter as consumers and government stepped up their spending and exports surged. Gross domestic product expanded at a 3.2% annual rate in the Commerce Departments second reading, released Tuesday. That is the strongest pace since the second quarter of 2014. It beat the consensus estimate of a 3.1% growth rate. Consumer spending rose 2.8% in the quarter, stronger than the original estimate of 2.1%. The consumer sector accounts for two-thirds of the economy, and that has been bolstering economic growth for several quarters. A measure of core inflation, which excludes volatile categories like food and energy, rose 1.7% during the quarter, unrevised from the initial reading. That is inching closer to the Federal Reserves 2% target. Most economists and investors expect the central bank to raise the benchmark interest rate at its December meeting as inflation firms and economic growth remains sturdy.

Also, sentiments were subdued ahead of key events from OPEC talks to the series of US economic events and Italys referendum.

The Organization of the Petroleum Exporting Countries (OPEC) will meet in Vienna later on Wednesday to discuss a planned production cut in an effort to curb overproduction that had dogged markets and more than halved prices since 2014. Many analysts believe OPEC will cobble together a deal at its meeting in Vienna to cut some production. But doubts lingered as Iran and Iraq, OPECs second-largest and third-largest producers, have resisted pressure from the groups de facto leader Saudi Arabia to curtail output.

A series of key events, including United States Automatic Data Processing Inc.s private-sector jobs report for November later in the day. Friday will see the most-watched set-piece data point of the month: the non-farm payrolls report.

Italians vote on constitutional changes on Dec. 4 that would limit the power of the upper house and make it easier for governments to pass legislation. Prime Minister Matteo Renzi has said he will resign in case of a no result. New elections, if held, could bring to power the Five Star Movement, which has said it wants to hold a referendum on euro membership.

Among Asian bourses

Australia Market ends softer

Australian share market closed lower today, as falling oil and metal prices hit miners and energy stocks. At the closing bell, the benchmark S&P/ASX 200 index fell 17 points, or 0.31%, to 5440.50, while the broader All Ordinaries index declined 18.10 points, or 0.33%, to close at 5502.40.

Energy stocks extended losses to a third straight session on following drop in commodity prices. Crude oil slumped about 4% on Tuesday, with Iran and Iraq at loggerheads with Saudi Arabia a day ahead of Organization of the Petroleum Exporting Countries meeting for a deal to cut production. Among energy players, Woodside Petroleum declined by 2.4% to A$29.62, Origin Energy 1.7% to A$5.94, and Santos 3% to A$3.93.

Mining stocks also closed softer, dragged by BHP Billiton, down 4.1% to A$24.41, and Rio Tinto, down 4.4% to A$57.75, after Copper, lead and zinc were sold off on Tuesday on the view that a post-US election rally had become overstretched, while a rally in steel and iron ore prices was stemmed after Chinese exchanges imposed curbs to tame speculative trade. Iron ore miner Fortescue Metals Group, which is particularly sensitive to the iron ore price, dropped 5.3% to A$5.87.

Shares of financial players cushioned some of the pressure on the benchmark index, with Big Four banks being top gainers. Among major banks, Westpac added 0.2% to A$31.27, Australia & New Zealand Banking Group 1.1% to A$28.41, Commonwealth Bank of Australia 1.1% to A$78.65, and National Australia Bank 0.6% to A$28.93.

Nikkei holds gain line

The Japan share market finished edge above the neutral line, after official data indicated Japans industrial production rose for a third consecutive month in October, with a slight gain just beating the median forecast of economists, as the nations exports compensate for weak domestic spending. Market gains were, however, capped ahead of key events from OPEC talks to the series of key economic events and Italys referendum. Total 17 out of 33 TSE industry category on the main section gained ground, led by Securities & Commodities Futures, Glass & Ceramics Products, Fishery, Agriculture & Forestry, and Construction issues, whilst Iron & Steel, Nonferrous Metals, Mining, and Oil & Coal Products issues being major losers. The benchmark Nikkei 225 index added 0.01%, or 1.44 points, to close at 18,308.48, while the broader Topix index of all first-section issues gained 0.06%, or 0.86 point, to 1,469.43.

Stocks got off to a firmer start after U.S. equities staged a rebound on Tuesday. Investors apparently took heart from brisk U.S. economic indicators, including an upward revision to gross domestic product data for July-September. The yens weaker moves against the dollar also helped increase investor appetite for buying on dips. But the markets topside was limited, with the key market gauges fluctuating around the previous days closing levels, amid a growing wait-and-see mood ahead of key events, including a meeting of the Organization of the Petroleum Exporting Countries in Vienna later on Wednesday. The market was also weighed down by worries about a series of key events, including closely watched economic indicators to be released in the United States later in the day, including Automatic Data Processing Inc.s private-sector jobs report for November.

Shares of export-oriented firms inclined as the yen, which is often bought as a safe haven in time of uncertainty, depreciated to 113-level against greenback. A softer yen is positive to the stock market as it amplifies into exporters profitability. The weaker yen helped lift export-oriented names, such as automakers Toyota, Suzuki and Honda, electronics giant Panasonic and camera maker Canon. Also on the plus side were mobile phone carriers SoftBank Group and KDDI.

By contrast, shares of steel producers JFE Holdings, Nippon Steel & Sumitomo Metal and Kobe Steel met with profit-taking. Oil companies JX Holdings, Idemitsu and Japex were downbeat as crude oil futures fell sharply in New York on Tuesday amid weakening hopes for an agreement on reducing oil production at the upcoming OPEC meeting.

China Stocks end 1% down

Mainland China stock market closed down today, as concerns over liquidity squeeze after official data showing the Peoples Bank of China injected a mere 15 billion yuan in November through open market operations, compared with Octobers 441 billion yuan. Most of SSE sectors declined, with energy and materials issues being major losers. The blue-chip CSI300 index fell 0.73%, to 3,538. The Shanghai Composite Index lost 1% to 3,250.03 points, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, dropped 0.16% to 2,106.91. For the month, CSI300 surged 6%, its best monthly gain in eight months, while the SSEC gained 4.8%.

Shares of banking sector fell broadly on profit booking, with China Citic Bank falling 3% to 6.71 yuan and China Merchants Bank lower by 1% to 18.56 yuan. ICBC and China Construction Bank both declined 1.1% to 4.52 yuan and 5.57 yuan respectively.

China United Network Communications (China Unicom) soared 8.3% to 6.66 yuan, after reports that the state-owned telecoms firm has finalised its mixed-ownership plan to introduce private capital to the company, despite China Unicom issuing a statement on Wednesday saying n++uncertaintyn++ still existed for the plan. Reports also said the plan will be filed to the government for approval and Baidu, Alibaba, and Tencent, Chinas largest internet companies, were invited to become shareholders.

Real estate shares rebounded after Tuesdays drop - a reaction to the announcement of fresh home buying restrictions in Shanghai. The sector was lifted by index heavyweight China Vanke Co, which jumped 3.4% after China Evergrande Group announced late on Tuesday that it had bought more shares in Chinas biggest property developer.

Hong Kong Stocks rise on firm Wall Street lead

The Hong Kong stock market ended higher today, as risk sentiments buoyed by tracking gains in Wall Street overnight and ahead of next weeks unveiling of the much-anticipated Shenzhen-Hong Kong Stock Connect, which will offer foreign individual investors access to the tech-heavy Shenzhen market for the first time. Investors apparently took heart from brisk U.S. economic indicators, including an upward revision to gross domestic product data for July-September. But gains were capped as investors remained cautious ahead of an OPEC meeting and Italys referendum result. Most sectors in Hong Kong rose, with telecommunication shares among the best performers, while energy and the raw materials sector suffered the most damage. The Hang Seng Index ended up 0.23%, or 52.70 points, to 22,789.77 while the Hang Seng China Enterprises index fell 0.08%, or 8.15 points, to 9,838.06. Turnover increased to HK$88.9 billion from HK$68.7 billion on Tuesday.

China Unicom (00762) soared 7% to HK$9.42 becoming the best performing blue chip. Market talks suggested that its parent companys mixed ownership proposal has been concluded, but Unicom in afternoon clarified that the proposal is still being discussed. China Telecom (00728) and China Mobile (00941) also climbed 4% and 1% to HK$3.75 and HK$84.65.

Hengan (01044) slid 7% to HK$61.05. It was the worse blue-chip loser after the company said its CFO Loo Hong Shing has resigned and Xu Da Zuo has taken over the seat. But UBS said Xu has no experience in dealing with investors, and said it appears to be a surprise to the market.

Shares of casino companies inclined ahead of Macau gaming authorities announcement of Novembers gross gaming revenues (GGR) tomorrow. Galaxy Entertainment (00027) added 2% to HK$38.5. Sands China (01928) jumped 2% to HK$38.2.

Sensex builds on gains

Indian market rallied for the fourth consecutive session, with the benchmark Sensex surging 259 points to end at a fresh two-week high of 26,652 driven by upbeat global cues on strengthening oil prices. The 50-share NSE Nifty settled 82.35 points, or 1.01% higher at 8,224.50 after shuttling between 8,234.25 and 8,139.25. Consumer durables, banking, finance, capital goods, industrials and power sectors were the major winners.

Sentiment was upbeat on hopes that the government and RBI will announce more measures to contain the fallout of demonetisation while globally, oil prices spiked ahead of a crucial OPEC meet where producers are set to discuss an output cut.

UCO Bank rose 1.04% to Rs 33.95 after the bank said it has allotted 7.17 crore equity shares to Life Insurance Corporation of India at an issue price of Rs 37.74 per equity. The shares issued to Life Insurance Corporation of India (LIC) will be under lock-in for a period of one year from the date of trading from the stock exchanges. LIC owned 11.88% stake in UCO Bank end September 2016.

Yes Bank rose 2.38% after the bank announced the launch of SIMsePAY, a unique innovation that allows any account holder to do money transfers, pay utility bills and other mobile banking services, without the need for smart phones or internet.

Indias gross domestic product (GDP) for the quarter ended September 2016 (Q2) is slated to be released today, 30 November 2016. Indias GDP growth rate slowed to 7.1% in Q1 June 2016 from 7.9% expansion in Q4 March 2016. Also Indias infrastructure output for October 2016 will be released today, 30 November 2016. Infrastructure output in India went up 5% year-on-year in September, following a 3.2% growth in August.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was down 0.1% to 6896.95. Indonesias Jakarta Composite index added 0.24% to 5148.91. Taiwans Taiex added 0.53% to 9240.71. South Koreas KOSPI index was up 0.26% to 1983.48. Malaysias KLCI was down 0.5% to 1619.12. Singapores Straits Times index rose 0.9% to 2905.17.

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Hong Kong Stocks rise on firm Wall Street lead
Nov 30,2016

The Hong Kong stock market ended higher on Wednesday, 30 November 2016, as risk sentiments buoyed by tracking gains in Wall Street overnight and ahead of next weeks unveiling of the much-anticipated Shenzhen-Hong Kong Stock Connect, which will offer foreign individual investors access to the tech-heavy Shenzhen market for the first time. Investors apparently took heart from brisk U.S. economic indicators, including an upward revision to gross domestic product data for July-September. But gains were capped as investors remained cautious ahead of an OPEC meeting and Italys referendum result. Most sectors in Hong Kong rose, with telecommunication shares among the best performers, while energy and the raw materials sector suffered the most damage. The Hang Seng Index ended up 0.23%, or 52.70 points, to 22,789.77 while the Hang Seng China Enterprises index fell 0.08%, or 8.15 points, to 9,838.06. Turnover increased to HK$88.9 billion from HK$68.7 billion on Tuesday.

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