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Nikkei holds gain line
Nov 30,2016

The Japan share market finished edge above the neutral line on Wednesday, 30 November 2016, 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.

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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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Asia Pacific Market: Stocks mixed ahead of key events
Nov 29,2016

Asia Pacific share market ended mixed on Tuesday, 29 November 2016, with risk sentiments curbed by a lackluster performance in global equity markets overnight and ahead of key events from OPEC talks to the U.S. jobs report and Italys referendum. The MSCI Asia Pacific Index slid 0.1% to 136.47.

Wall Street suffered its worst performance in nearly a month overnight, while European stocks also softened, led by a slump in Italian banks as political risk resurfaced in Europe ahead of a referendum in Italy this weekend.

Investors were turning their attention to the OPEC meeting on Wednesday and Italys vote on constitutional reform at the weekend. The Organization of the Petroleum Exporting Countries (OPEC) will meet in Vienna to discuss a planned production cut in an effort to curb overproduction that had dogged markets and more than halved prices since 2014. The uncertainty has prompted oil price to fall. The price of the benchmark U.S. oil fell 20 cents to $46.88 a barrel in electronic trading on New York Mercantile Exchange. The contract jumped $1.02 to close at $47.08 a barrel on Monday. Brent crude, the international standard, eased 29 cents to $49.92 a barrel in London, from $48.79 on Tuesday.

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 marginally lower today, as risk sentiments subdued on tracking weak lead from Wall Street overnight. The major banks gained some ground but the miners dragged on the market. At the closing bell, the benchmark S&P/ASX 200 index fell 6.90 points, or 0.13%, to 5457.50, while the broader All Ordinaries index declined 12.10 points, or 0.22%, to close at 5520.50.

Telecom stocks were the biggest drag, with Vocus Communications falling 24.5%, after the company issued its first guidance for 2016-17 bringing recent acquisitions Nextgen, M2 Group and Amcom under the one umbrella. Vocus said revenue was expected to be about A$1.9 billion, underlying EBITDA was forecast between A$430 million and A$450 million, while underlying net profit after tax was expected to be between A$205 million and A$215 million. TPG Telecom fell 7.2% to A$7.00, after being caught up in negative sentiment in the sector sparked by a guidance update from competitor Vocus.

Shares of financial players inclined, led by top four lenders. Among major banks, Commonwealth Bank of Australia was up 0.8% and Australia & New Zealand Banking Group rose 0.2%.

The plunge in the Dalian iron ore futures hit local iron ore miners, with Fortescue dropping 0.6% to A$6.21, after earlier in the session rising as much as 3% to a five-year high of $6.44. Gold miners, too, lost their shine as the precious metal reversed some of Monday nights gains.

Nikkei falls on profit booking, weak offshore lead

The Japan share market declined for second straight session, as investors continued locking gains after the benchmark index hit 11-months high at the end of last week and on tracking negative lead from Wall Street overnight and a pause in the yens recent weakening.. Total 20 out of 33 TSE industry categories on the main section declined, with Insurance, Iron & Steel, Securities & Commodities Futures, and Glass & Ceramics Products being major losers, while Fishery, Agriculture & Forestry, Chemicals, and Foods issues being notable gainers. The benchmark Nikkei 225 index dropped 0.27%, or 49.85 points, to close at 18,307.04, while the broader Topix index of all first-section issues lost 0.07%, or 1.01 points, to 1,468.57.

Insurer Dai-ichi Life, brokerage firm Nomura and steelmaker JFE Holdings met with selling. Clothing store chain operator Fast Retailing and mobile phone carrier SoftBank Group, both heavily weighted components of the Nikkei average, were also downbeat. Oil companies, such as JX Holdings and Japex, lost ground amid diminishing expectations for an agreement on cutting crude oil output at the upcoming OPEC meeting. Other major losers included automakers Toyota, Suzuki and Fuji Heavy.

By contrast, general contractors Kajima, Taisei, Shimizu and Zenitaka attracted buying. Mega-banks Mitsubishi UFJ, Mizuho and Sumitomo Mitsui wiped out earlier losses to end higher.

Japan retail sales fell 0.1% on year in October, the Ministry of Economy, Trade and Industry said on Tuesday, following the fall of 1.7% in September. On a seasonally adjusted monthly basis, retail sales climbed 2.5%, up from 0.3% in the previous month. Sales from large retailers shed 1.0% on year, following the 3.2% tumble a month earlier.

Japan jobless rate was a seasonally adjusted 3% in October, the Ministry of Internal Affairs and Communications said on Tuesday, unchanged from the previous month. The job-to-applicant ratio came in at 1.40, up from 1.38 in the previous month. The participation rate was 60.4%, easing from 60.5% a month earlier. The number of employed persons in October was 64.95 million, an increase of 630,000 or 1% on year.

China Market attains highest level 11 months

Mainland China stock market extended their bull run for a fourth session, closing at the highest level in almost 11 months as investors hopes that speculation curbs on the real estate market will push funds into equities. Investor sentiment also received a boost after Morgan Stanley upgraded their ratings on mainland stock markets. The blue-chip CSI300 index rose 0.82%, to 3,564.04, while the Shanghai Composite Index gained 0.18% to 3,282.92 points. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, fell 0.77% to 2,110.36. The measure has added 5.9% so far this month.

As per reports, Chinas central bank is clamping down further on mortgage lending in areas deemed overheated and some lenders have been asked to suspend distributing new home loans. The city of Shanghai said in a social media post on Monday that it will tighten mortgage loan policies starting Nov. 29, while Tianjin has raised minimum mortgage down payments for first homes to at least 30%. Market pundit expects the government tightening property likely move some of excess liquidity into the A-share market again.

Investor sentiment also received a boost after analysts from Morgan Stanley upgraded their ratings on mainland stock markets, forecasting the Shanghai Composite Index to top 4,400 in 2017 as China maintains loose monetary conditions amid a challenging external trade environment after US president-elect Donald Trump takes office. The Morgan Stanley index prediction is 34% higher than Mondays Shanghai close of 3,277.

Shares in home appliance, liquor and traditional Chinese medicine firms attracted buying ahead of the start of a trading link between Hong Kong and Shenzhen on 5 December 2016. Midea Group Co. jumped 4.5% to close at a record price, and the liquor companies Wuliangye Yibin Co. and Luzhou Laojiao Co. rose 3.5% and 3.2%, respectively. Dong-E-E-Jiao Co., a maker and seller of traditional Chinese medicine, climbed 1.9%.

Hong Kong Stocks fall, energy shares weigh

The Hong Kong stock market ended lower, weighed down by energy shares as oil prices dropped on doubts that producer cartel OPEC would hammer out an output cut this week. Investors risk appetite was also curbed by a lacklustre performance in global equity markets overnight. Wall Street suffered its worst performance in nearly a month, while European stocks also softened, led by a slump in Italian banks as political risk resurfaced in Europe ahead of a referendum in Italy this weekend. But losses were limited 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. Sector performance was mixed, with energy and raw material shares sliding while industrial and utilities gained. The Hang Seng Index ended down 0.41%, or 93.50 points, to 22,737.07 and the Hang Seng China Enterprises index fell 0.3%, or 29.33 points, to 9,846.21. Turnover decreased to HK$68.7 billion from HK$70.6 billion on Monday.

The Organization of the Petroleum Exporting Countries (OPEC) will meet in Vienna to discuss a planned production cut in an effort to curb overproduction that had dogged markets and more than halved prices since 2014. The uncertainty has prompted oil price to fall. Sentiment was also dampened by falling coal prices. Chinas thermal coal futures lost nearly 3% to a 5-1/2-week low. Index heavyweight China Shenhua Energy Co slid 1.5%.

Property developers shares hit after Tianjin and Shanghai stepped up property curbing measures. CR Land (01109) fell 1% to HK$18.9. China Overseas Land (00688) edged down 0.8% to HK$22.4. Hang Lung Properties (00101) slipped 1.2% to HK$17.22. Hang Lung Group (00010) slid 2.7% to HK$29.1.

Standard Chartered (02888) fell 1.5% to HK$60.5 on rumours that is planned job cut will start this week. HSBC (00005) sank 1.5% to HK$60.6.

Sensex, Nifty hit 2-1/2-week closing high

Indian benchmark indices registered gains for a third day, led by a rally in automakers while banks continued to falter. The barometer index, the S&P BSE Sensex, rose 43.84 points or 0.17% to settle at 26,394.01. The Nifty 50 index rose 15.25 points or 0.19% at 8,142.15.

Sentiment remained upbeat for the better part of the day after the government yesterday provided yet another opportunity to black money holders to legalise their wealth. The government has proposed to tax at 50% the unaccounted demonetised cash that is disclosed voluntarily till 30 December, after which a steep up to 85% tax and penalty will be levied on undisclosed wealth that is discovered by authorities.

Idea Cellular surged 4.42% on media reports that the company is likely to sell 100% stake in its tower subsidiary. Idea Cellular has dropped its earlier plans to sell a minority stake in the tower business and now it is looking to sell 11,000 telecom towers for close to $1 billion, reports suggested.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was slight 0.01% down at 6902.71. Indonesias Jakarta Composite index added 0.4% to 5136.67. Taiwans Taiex fell 0.3% to 9192.38. South Koreas KOSPI index edged up 0.01% to 1978.39. Malaysias KLCI was down 0.1% to 1626.93. Singapores Straits Times index rose 0.2% to 2879.14.

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Hong Kong Stocks fall, energy shares weigh
Nov 29,2016

The Hong Kong stock market ended lower on Tuesday, 29 November 2016, weighed down by energy shares as oil prices dropped on doubts that producer cartel OPEC would hammer out an output cut this week. Investors risk appetite was also curbed by a lacklustre performance in global equity markets overnight. Wall Street suffered its worst performance in nearly a month, while European stocks also softened, led by a slump in Italian banks as political risk resurfaced in Europe ahead of a referendum in Italy this weekend. But losses were limited 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. Sector performance was mixed, with energy and raw material shares sliding while industrial and utilities gained. The Hang Seng Index ended down 0.41%, or 93.50 points, to 22,737.07 and the Hang Seng China Enterprises index fell 0.3%, or 29.33 points, to 9,846.21. Turnover decreased to HK$68.7 billion from HK$70.6 billion on Monday.

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China Market attains highest level 11 months
Nov 29,2016

Mainland China stock market extended their bull run for a fourth session on Tuesday, 29 November 2016, closing at the highest level in almost 11 months as investors hopes that speculation curbs on the real estate market will push funds into equities. Investor sentiment also received a boost after Morgan Stanley upgraded their ratings on mainland stock markets. The blue-chip CSI300 index rose 0.82%, to 3,564.04, while the Shanghai Composite Index gained 0.18% to 3,282.92 points. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, fell 0.77% to 2,110.36. The measure has added 5.9% so far this month.

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Nikkei falls on profit booking, soft offshore lead
Nov 29,2016

The Japan share market declined for second straight session on Tuesday, 29 November 2016, as investors continued locking gains after the benchmark index hit 11-months high at the end of last week and on tracking negative lead from Wall Street overnight and a pause in the yens recent weakening.. Total 20 out of 33 TSE industry categories on the main section declined, with Insurance, Iron & Steel, Securities & Commodities Futures, and Glass & Ceramics Products being major losers, while Fishery, Agriculture & Forestry, Chemicals, and Foods issues being notable gainers. The benchmark Nikkei 225 index dropped 0.27%, or 49.85 points, to close at 18,307.04, while the broader Topix index of all first-section issues lost 0.07%, or 1.01 points, to 1,468.57.

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Asia Pacific Market: Stocks end higher
Nov 25,2016

Asia Pacific share market finished higher on last trading session of the week, Friday, 25 November 2016, as the Thanksgiving break in the United States helped slow a relentless surge in the dollar that has sucked capital out of most emerging markets. Wall Street was closed on Thursday for the Thanksgiving holiday and trading will end early on Friday.

Strong U.S. manufacturing and consumer data this week have bolstered the case for higher interest rates. The dollar index has risen 0.5% this week, and almost 4% since Nov. 8.

Crude oil prices were mostly steady as investors looked to next weeks meeting of the Organization of the Petroleum Exporting Countries (OPEC) for clarity on proposed output caps. U.S. crude futures were flat at $47.92, set to clock a weekly increase of 5%, building on last weeks 5.3% jump. Global benchmark Brent crude slipped 0.1% to $48.93, on track for a weekly gain of 4.4%.

Gold lost 1% to touch its lowest level in 9-1/2 months in Asian trade on Friday, on track to post a third consecutive weekly decline, as the dollar extended its bull run against the yen on the back of rising bond yields. Spot gold was down 0.8% at $1,173.56 an ounce. Bullion shed over 8% so far this month and has lost over $160 an ounce since the peak after the U.S. election on Nov. 9, hurt by a strong dollar and surging Treasury yields as investors bet on higher growth and inflation under U.S. president-elect Trump.

Among Asian bourses

Australia Market hits 3-month high

Australian share market closed at highest level in three months, due to continued demand for mining and energy stocks, thanks to gains in commodity prices, including copper and iron ore. At the closing bell, the benchmark S&P/ASX 200 index rose 22.70 points, or 0.41%, to 5507.80, its highest level since August 26, while the broader All Ordinaries index was up 21.50 points, or 0.39%, to close at 5570.50.

Shares of energy companies also found support on renewed hopes of an OPEC production cut deal next week. Woodside Petroleum inclined by 1.1% to A$31.10, Origin Energy 0.8% to A$6.07, and Santos 0.2% to A$4.19.

Mining stocks closed stronger, led by BHP Billiton, up 2.3% to A$26.50, after ratings agency Moodys upgraded the mining giants outlook to stable from negative. Moodys said it expects the company to report improved margins and cash flow throughout next year. Rio Tinto gained 2.4% to A$61.76.

Shares of financial players mostly lower on profit booking. Among major banks, Westpac shed 0.3% to A$31.53, Australia & New Zealand Banking Group 0.2% to A$28.28, and Commonwealth Bank of Australia 0.3% to A$78.17, while National Australia Bank rose 0.5% to A$29.01.

Tatts Group gained 7.1% to A$4.21 after Tabcorp took control of a 10% stake in the gaming firm for about A$638 million. The move comes just over a month after the companies announced an A$11.3 billion merger.

Nikkei hits 11-months high

The Japan share market finished at an 11-month high, as risk sentiments underpinned by yen depreciation against greenback. Total 22 out of 33 TSE industry category on the main section inclined, led by Transportation Equipment, Precision Instruments, Electric Power & Gas, Nonferrous Metals, and Warehousing & Harbor Transportation Services issues, while Banks, Real Estate, Marine Transportation, and Fishery, Agriculture & Forestry issues being major decliners. The benchmark Nikkei 225 index added 0.26%, or 47.81 points, to close at 18,381.22, while the broader Topix index of all first-section issues gained 0.31%, or 4.57 points, to 1,464.53.

Shares of export-oriented firms extended rally as the yen depreciated to 113-level against greenback. A softer yen is positive to the stock market as it amplifies into exporters profitability. Honda Motor Corp surged 2% to 3345 yen. Ajinomoto Co Inc rose 2.4% to 2213 yen.

China Stocks end stronger

Mainland China stock market closed stronger, due to gains in real estate and banking shares on signs that the economy is on steadier footing were more than offset by losses in resources shares on profit booking. The blue-chip CSI300 index rose 0.93%, to 3,521.30, while the Shanghai Composite Index gained 0.62% to 3,261.94 points. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.4% to 2,129.84. For the week, the CSI300 rose 3%, while the SSEC gained 2.2%, its best week since mid-November.

Chinas yuan continued depreciation against greenback of Friday, hitting a lowest point since June 2008 as the Peoples Bank of China continues to devalue the currency. The central parity rate of the Chinese yuan weakened for the third straight trading day by falling 83 basis points to 6.9168 against the US dollar. Traders are allowed to trade up to 2% either side of the reference point for the day.

Hong Kong Stocks closed higher

The Hong Kong stock market advanced today, partly aided by steady money inflows from China as a cross-border link will be launched soon. The Thanksgiving break in the United States also helped slow a relentless surge in the U.S. dollar that has sucked capital out of most emerging markets. The market has witnessed relatively strong inflows from Chinese investors via the Shanghai-Hong Kong Stock Connect, as a sister investment link connecting Hong Kong and Shenzhen will be launched soon. Most sectors rose, with financial and consumer related stocks leading the gains. The Hang Seng Index ended up 0.51%, or 114.96 points, to 22,723.45 and the Hang Seng China Enterprises index added 1.15%, or 111.46 points, to 9,9790.23. Turnover increased to HK$56.2 billion from HK$55.8 billion on Thursday.

Chinese financial players attracted fund buying. China Life (02628) gained 3.9% to HK$22.7 after CICC and ICBAs bullish comments. Ping An (02318) added 2% to HK$42.25. Mainland lenders were also firmer. CCB (00939) put on 1% to HK$5.75. ICBC (01398) added 1.3% to HK$4.67.

Mengniu Dairy (02319) soared 4.6% to HK$16.32 becoming the top blue-chip gainer. It was reported that the companys call options turnover has risen significantly.

Sensex, Nifty hit two-week closing high

Trading for the week closed on a buoyant note as key benchmark indices surged today, 25 November 2016, led by gains in IT and pharma stocks. The barometer index, the S&P BSE Sensex, jumped 456.17 points or 1.76% to settle at 26,316.34. The Nifty surged 148.80 points or 1.87% to settle at 8,114.30. The Sensex and the Nifty, both, hit their highest closing level in two-weeks.

The Sensex closed above the psychological 26,000 mark after regaining that mark in early trade. The Nifty settled above the psychological 8,000 level after reclaiming that mark in early trade. Bargain hunting emerged after the recent heavy selling on the bourses triggered by worries that US president elect Donald Trumps likely fiscal expansionary policies could result in hike in interest rates there which could spark capital outflows from the emerging equity markets.

Wipro gained 2.96% after the company announced that it completed the acquisition of Appirio on 23 November 2016. As mentioned in the media presentation submitted as part of results for Q2 September 2016, impact of the Appirio acquisition is expected to reflect in the financials of Wipro for Q3 December 2016, the company said. The announcement was made after market hours yesterday, 24 November 2016.

Elsewhere in the Asia Pacific region: New Zealands NZX50 rose 0.2% to 6899.62. Indonesias Jakarta Composite index added 0.3% to 5122.10. Taiwans Taiex rose 0.1% to 9159.07. South Koreas KOSPI index jumped 0.2% to 1974.46. Malaysias KLCI was up 0.2% to 1627.26. Singapores Straits Times index rose 0.6% to 2859.33.

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Australia Market hits 3-month high
Nov 25,2016

Australian share market closed at highest level in three months on Friday, 25 November 2016, due to continued demand for mining and energy stocks, thanks to gains in commodity prices, including copper and iron ore. At the closing bell, the benchmark S&P/ASX 200 index rose 22.70 points, or 0.41%, to 5507.80, its highest level since August 26, while the broader All Ordinaries index was up 21.50 points, or 0.39%, to close at 5570.50.

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Nikkei hits 11-months high
Nov 25,2016

The Japan share market finished at an 11-month high on Friday, 25 November 2016, as risk sentiments underpinned by yen depreciation against greenback. Total 22 out of 33 TSE industry category on the main section inclined, led by Transportation Equipment, Precision Instruments, Electric Power & Gas, Nonferrous Metals, and Warehousing & Harbor Transportation Services issues, while Banks, Real Estate, Marine Transportation, and Fishery, Agriculture & Forestry issues being major decliners. The benchmark Nikkei 225 index added 0.26%, or 47.81 points, to close at 18,381.22, while the broader Topix index of all first-section issues gained 0.31%, or 4.57 points, to 1,464.53.

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Hong Kong Stocks closed higher
Nov 25,2016

The Hong Kong stock market advanced on Friday, 25 November 2016, partly aided by steady money inflows from China as a cross-border link will be launched soon. The Thanksgiving break in the United States also helped slow a relentless surge in the U.S. dollar that has sucked capital out of most emerging markets. The market has witnessed relatively strong inflows from Chinese investors via the Shanghai-Hong Kong Stock Connect, as a sister investment link connecting Hong Kong and Shenzhen will be launched soon. Most sectors rose, with financial and consumer related stocks leading the gains. The Hang Seng Index ended up 0.51%, or 114.96 points, to 22,723.45 and the Hang Seng China Enterprises index added 1.15%, or 111.46 points, to 9,9790.23. Turnover increased to HK$56.2 billion from HK$55.8 billion on Thursday.

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US stocks end on a flat note
Nov 24,2016

US stock market ended the pre-holiday affair on a flat note on Wednesday, 23 November 2016 despite a deluge of economic data. Dow industrials and the S&P 500 notched a third straight record close on Wednesday, boosted in part by industrials, while the Nasdaq lagged behind in trading ahead of the Thanksgiving Day holiday.

The Dow Jones Industrial Average rose 59.31 points, or 0.3%, to close at 19,083.18, after hitting an intraday record of 19,083.76. The S&P 500 which had been in negative territory for most of the session, advanced 1.78 points, or less than 0.1%, to finish at a record 2,204.72, its session high, led by 0.8% gains in both the industrials and telecom sectors. Its the third session in a row both the Dow and the S&P 500 have turned in record closes. Bucking the positive tone, the Nasdaq Composite Index declined 5.67 points, or 0.1%, to finish at 5,380.68, pressured by a drop in biotech stocks.

The major averages diverged at the start of the session as the heavily-weighted technology and health care spaces slipped down the sector leaderboard.

Stocks barely budged after the Federal Reserve released minutes from its November meeting, but the Dow gradually skewed upward and the S&P 500 swung to a slight gain heading in to the close. The Fed minutes showed that policy makers agreed an interest-rate increase may be appropriate relatively soon.

Todays economic data included the weekly MBA Mortgage Index, weekly initial claims, Durable Orders for October, the FHFA Housing Price Index for September, New Home Sales for October, and the University of Michigan Consumer Sentiment Survey for November. The MBA Mortgage Index indicated that mortgage applications rose by 5.5% in the week ending 19 November 2016. This followed a 9.2% decline in the prior week.

Initial jobless claims increased by 18,000 for the week ending 19 November to 251,000 (consensus 243,000). Continuing claims for the week ending 12 November increased by 66,000 to 2.043 million. Durable orders for October surged past estimates, jumping 4.8% (consensus 1.1%), thanks to a 12.0% spike in transportation orders. Excluding transportation, durable orders increased 1.0% in October (consensus 0.3%) on top of an unrevised 0.2% increase in September.

The FHFA Housing Price Index for September rose 0.6%, which followed an increase of 0.7% in August. Sales of new single-family home sales declined 1.9% in October to a seasonally adjusted annual rate of 563,000 from a revised September rate of 574,000 (from 593,000). The October reading was lower than the consensus estimate of 587,000.

Separately, the final reading of the University of Michigan Consumer Sentiment Survey for November increased to 93.8 (consensus 91.6) from the preliminary reading of 91.6. The sentiment index jumped 8.2 points after the election, leaving the index 6.6 points above its level from October.

Heavy machinery names outperformed in the industrial sector. The group led after Deere topped consensus estimates for the fourth quarter and issued upbeat sales guidance for the first quarter and full-year 2017. Peer and Dow component Caterpillar finished at the top of the price-weighted average. The broader sector has gained 8.7% so far this month.

In the technology space, large cap tech names underperformed. Microsoft and Alphabet finished lower by 1.0% apiece. Meanwhile, HP tumbled 6.8% after issuing cautious first-quarter guidance. However, the company did report in-line results for the fourth quarter.

Oil prices fell slightly, settling down 0.2% at $47.96 a barrel, on the day after U.S. inventory data from the Energy Information Administration showed a rise in stockpiles, a negative sign for demand. However, crude prices have been buffeted ahead of next weeks meeting of the Organization of the Petroleum Exporting Countries.

Gold prices settled down 1.8% at $1,189.30 an ounce, hurt by the rise in the dollar.

Treasuries ended on a broadly lower note as yields jumped across the curve. The yield on the 2-yr note finished up four basis points at 1.13% while the yield on the benchmark 10-yr note also rose four basis points to 2.36%.

Todays trading volume was below the recent average of one billion as fewer than 808 million shares changed hands at the NYSE floor.

Tomorrow, bond and equity markets will be closed for Thanksgiving while Fridays session will end at 13:00 ET. Two pieces of economic data will be released Friday with October International Trade in Goods and October Advance Wholesale Inventories (consensus +0.2%) each crossing the wires at 8:30 ET.

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China Stocks fall on capital outflow woes, stronger dollar
Nov 18,2016

Mainland China stock market closed down for second straight session on Friday, 18 November 2016, on funds outflow worries after US Federal Reserve Chair Janet Yellen said the Fed could raise interest rates as soon as next month, which is expected to make emerging markets less attractive. Market heavyweights and financial stocks were hit worst, dragging down overall performance. The benchmark Shanghai Composite Index fell 0.5% to close at 3,192.86 points. The CSI 300 index closed 0.56% down at 3,417.46 points.

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China Stocks fall on capital outflow woes, stronger dollar
Nov 18,2016

Mainland China stock market closed down for second straight session on Friday, 18 November 2016, on funds outflow worries after US Federal Reserve Chair Janet Yellen said the Fed could raise interest rates as soon as next month, which is expected to make emerging markets less attractive. Market heavyweights and financial stocks were hit worst, dragging down overall performance. The benchmark Shanghai Composite Index fell 0.5% to close at 3,192.86 points. The CSI 300 index closed 0.56% down at 3,417.46 points.

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Asia Pacific Market: Stocks close mostly higher
Nov 18,2016

Asia Pacific share market finished mostly higher on last trading session of the week, Friday, 18 November 2016, on tracking strong rally on Wall Street overnight after Federal Reserve Chair Janet Yellens hawkish comments.

The regional share market tracked a positive finish among major U.S indexes on Thursday on the back of remarks from Fed Chair Janet Yellen and upbeat economic data. The Dow Jones industrial average rose 35.68 points, or 0.19%, to close at 18,903.82. The S&P 500 gained 10.18 points, or 0.47%, to end at 2,187.12, while the Nasdaq composite advanced 39.39 points, or 0.74%, to 5,333.97.

U.S. economic data showed housing starts soared more than 25% in October stateside, while weekly jobless claims dropped to their lowest level since November 1973. In October, the consumer price index rose 0.4%, which was in line with expectations.

Yellen has stressed the importance of central bank independence in her first public remarks after Donald Trumps election victory as new data showed the president-elect will inherit a strengthening economy. The Federal Reserve chair told a congressional hearing yesterday, 17 November 2016 that an increase in short-term interest rates could n++become appropriate relatively soonn++, raising expectations of a rise at the Feds next meeting in December.

She added she would not step down from her position as the head of the Federal Reserve until the end of her term. Her comments pushed the dollar higher, with the dollar index, which measures the greenback against a basket of currencies, reaching a session high of 101.32.

Among Asian bourses

Australia Stocks end higher

Australian share market ended higher, on the back of strong rally on Wall Street overnight after Federal Reserve Chair Janet Yellens hawkish comments. At the closing bell, the benchmark S&P/ASX 200 index rose 20.90 points, or 0.39%, to 5,359.40, while the broader All Ordinaries index increased 18.60 points, or 0.34%, to 5,427.50.

Financial stocks led gainers with Commonwealth Bank of Australia and Westpac Banking Corp, tacking on around 0.3%.

Telecom stocks rallied as Telstra Corp rose 1.9%, bringing the weeks gains to 4.5%, as investors reacted positively to news of big cost cuts over the next five years.

Myer Holdings shares jumped as much as 10.6% as the retail giant flagged a return to profit in 2017 financial year after net income fell for the past six financial years.

Nikkei closes at 10-month high

The Japan share market closed at its highest level in more than 10 months, as risk appetite buying fuelled yen depreciation to 110 level against greenback on hopes for an interest rate hike by the U.S. Federal Reserve, after Fed Chair Janet Yellen firmly hinted at the possibility of a hike in December. The headline Nikkei 225 gained 0.59%, or 104.78 points, to end at 17,967.41, a whisker below the psychologically key 18,000 mark and its best level since early January. The broader Topix index of all first-section issues was up 0.38%, or 5.38 points, at 1,428.46.

Shares of export-oriented firms attracted buying on expectations for better earnings after dollars jump above 110 yen against greenback, as many export-oriented Japanese firms set their assumed dollar rates at 100-105 yen. Among them were automakers Toyota, Honda and Mazda, as well as technologies Sony and Hitachi. Shipping firms Nippon Yusen, Kawasaki Kisen and Mitsui O.S.K. Lines advanced, after the Baltic Dry Index for shipping costs climbed for 11 sessions in a row. By contrast, megabank groups and insurers met with apparent profit-taking after the recent surge. They included Mitsubishi UFJ, Sumitomo Mitsui, Dai-ichi Life and Tokio Marine. Among other losers were drug manufacturer Astellas, mobile carrier NTT Docomo and retailer Seven & i Holdings.

China Stocks fall on capital outflow woes, stronger dollar

Mainland China stock market closed down for second straight session, on funds outflow worries after US Federal Reserve Chair Janet Yellen said the Fed could raise interest rates as soon as next month, which is expected to make emerging markets less attractive. Market heavyweights and financial stocks were hit worst, dragging down overall performance. The benchmark Shanghai Composite Index fell 0.5% to close at 3,192.86 points. The CSI 300 index closed 0.56% down at 3,417.46 points.

A strong US dollar and worries over capital outflows also curbed investor appetites. With the dollar index still hovering near a 13-1/2 year high against a basket of currencies, there are persistent fears of yuan depreciation, as global investors continue to bet US President-elect Donald Trumps policies will result in higher inflation and stronger US economic growth.

Shanghais property sub-index outperformed the broader market, following government data that showed average new home prices in Chinas 70 major cities rose 12.3% on-year in October, a faster pace than the 11.2% on-year rise in September. Among Property plays, with Shenzhen-listed shares of Vanke up 3.9% and Poly Real Estate climbing 1.83%, while Gemdale erased early gains to trade down 0.73%.

Hong Kong Stocks close up

The Hong Kong stock market closed up, buoyed by Wall Street rally overnight on rising expectations of a US rate hike next month Market talks indicated slim chances of the Shenzhen-HK Connect program launch on 21 November, and it may be delayed to December. The Hang Seng Index ended up 0.37%, or 81.33 points, to 22,344.21 and the Hang Seng China Enterprises index added 0.24%, or 22.77 points, to 9,349.31. Turnover decreased to HK$55.9 billion from HK$62.3 billion on Thursday.

Chairman of China Tower Corporation Liu Aili said he aims at an IPO by end-2017. China Mobile (00941) edged down 0.2% to HK$84.6. China Telecom (00728) gained 0.6% to HK$3.65. China Unicom (00762) put on 3.9% to HK$9.07.

CKH Holdings (00001) climbed 1.4% to HK$94.9. The company yesterday bought back its own shares by HK$72.7 million. It was the first time of buyback since its restructuring. CK Property (01113) inched down 0.3% to HK$50.75.

AAC Tech (02018) jumped 2.5% to HK$73.85 after the company expects its non-acoustic business revenues to exceed acoustics in 2017. Sunny Optical (02382) shot up 5.8% to HK$41.25.

Evergande (03333) added stake in China Vanke (02202) again. China Vanke soared 3.2% to HK$21.95, while Evergrande edged up 0.4% to HK$5.3.

Sensex extends recent losing streak

Metal sector stocks and index heavyweights ITC, HDFC Bank and Infosys led small losses for key benchmark indices. The barometer index, the S&P BSE Sensex lost 77.38 points or 0.3% to settle at 26,150.24. The Nifty fell 5.85 points or 0.07% to settle at 8,074.10. The Sensex, and the Nifty, hit their lowest closing level in more than 5-1/2-months.

Stocks of public sector banks edged higher. Stocks of private sector banks were mixed. Index heavyweight Reliance Industries (RIL) nudged higher after the company announced the signing of a global partnership agreement in the Industrial IOT (IIOT) space whereby RIL and GE will work together to build out joint applications on GEs Predix platform.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 0.6% to 6857.84. Indonesias Jakarta Composite index fell 0.4% to 5170.11. Taiwans Taiex added 0.2% to 9008.79. South Koreas KOSPI index declined 0.3% to 1974.58. Malaysias KLCI was down 0.2% to 1623.80. Singapores Straits Times index rose 0.9% to 2838.65.

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Hong Kong Stocks close up
Nov 18,2016

The Hong Kong stock market closed up on Friday, 18 November 2016, buoyed by Wall Street rally overnight on rising expectations of a US rate hike next month Market talks indicated slim chances of the Shenzhen-HK Connect program launch on 21 November, and it may be delayed to December. The Hang Seng Index ended up 0.37%, or 81.33 points, to 22,344.21 and the Hang Seng China Enterprises index added 0.24%, or 22.77 points, to 9,349.31. Turnover decreased to HK$55.9 billion from HK$62.3 billion on Thursday.

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