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Nikkei hits new one-year high
Dec 16,2016

The Japan share market closed at fresh one-year high on Friday, 16 December 2016, as the yen depreciation to upper 118 level against greenback boosted exporters, meanwhile Japan financials were benefited from rising yields for global government bonds. The benchmark Nikkei 225 index added 0.66 per cent, or 127.36 points, marking its highest closing level since December 2015. The broader Topix index of all first-section shares was up 0.52 per cent, or 7.95 points, to finish at 1,550.67

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Australia Stocks end lower
Dec 16,2016

Australian share market finished session slight below neutral line on Friday, 16 December 2016, weighed down by weakness in commodity-related stocks, however, strength in consumer goods, industrial and realty counters helped to limit losses. At the closing bell, the benchmark S&P/ASX 200 index declined 5.70 points, or 0.1%, to 5532.90, while the broader All Ordinaries index dropped 5.30 points, or 0.09%, to close at 5589.70.

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China Stocks struggle after Fed raises rates
Dec 15,2016

Mainland China stock market closed at one-month lows on Thursday, 15 December 2016, after the U.S. Federal Reserve raised interest rates and signaled a faster pace of interest-rate increases than expected in 2017. Strength in small-caps was offset by a tumble in banking shares, triggered by a dramatic sell-off in bond markets that raised the spectre of liquidity crunch in the banking system. The Shanghai Composite Index fell 0.73% to 3,117.68, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.67% to 1,972.91. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.65% to close at 1,975.85 points.

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Nikkei hits fresh one-year high as yen plunges
Dec 15,2016

The Japan share market closed higher on Thursday, 15 December 2016, bucking the regional market trend, thanks to yen depreciation to upper 117 level against greenback after the Federal Reserve raised its benchmark short-term interest rate and hinted there would be more next year. The 225-issue Nikkei average rose 95.49 points, or 0.50 percent, to end at 19,250.52, marking its highest closing level since Dec. 17, 2015. The Topix index of all first-section issues finished up 8.82 points, or 0.58 percent, at 1,540.25.

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Australia Stocks fall as Fed hike rate
Dec 15,2016

Australian share market finished session with red ink on Thursday, 15 December 2016, dragged down by risk aversion selloff, with commodity-related stocks hit hard by the stronger US dollar which surged after the US Federal Reserve raised its interest rate target by a quarter point, and hinted at a brisker pace of rate hikes next year. At the closing bell, the benchmark S&P/ASX 200 index declined 46 points, or 0.82%, to 5538.60, while the broader All Ordinaries index dropped 44.70 points, or 0.79%, to close at 5595.

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U.S. stocks ended a volatile session lower
Dec 15,2016

U.S. stocks ended a volatile session lower on Wednesday, 15 December 2016 as investors grappled with the prospect of a faster pace of rate increases in 2017 than had been previously forecast. All three major indexes briefly traded higher after the announcement, but they turned lower as Yellen began her news conference.

The Dow Jones Industrial Average fell 118.5 points, or 0.6%, to 19,792.66. The S&P 500 index lost 18.44 points, or 0.8%, to trade at 2,253.28. The Nasdaq Composite Index lost 27.16 points, or 0.5%, to 5,436.67.

All 11 of the S&P 500s primary sectors ended lower, but so-called defensive names were among the weakest of the day. The utilities, real estate, and consumer-staples sectors all fell more than 1%. Energy stocks also dropped, tracking a decline in the price of crude oil. Financial stocks slumped erasing an initial move higher. Banks tend to be sensitive to rate increases due to the impact it has on their business models.

The Federal Reserve raised its key short-term rate on Wednesday, as had been universally expected, but it also forecast three rate increases in 2017, compared with the two that had been anticipated at its previous meeting in September. While the revised outlook could be taken as a positive signn++the Fed has said it would only raise rates when it deems the economy strong enough to withstand such a moven++it added an element of uncertainty to the market. In raising rates, the Fed moved its key short-term rate to a range of 0.5%-0.75% from 0.25% to 0.5%. The Fed decision marks the central banks first increase in rates since last December, which itself was the first in about a decade.

During her press conference, Fed Chair Janet Yellen was asked if fiscal policies that fail to boost productivity could prompt the Fed to be more aggressive when it comes to hiking rates, but Ms. Yellens response only acknowledged the presence of considerable uncertainty on the fiscal front.

Treasuries retreated in reaction to the rate increase while the U.S. Dollar Index jumped 1% to mark a fresh high for the year.

In the latest round of economic data, retail sales rose 0.1% in November, a slower pace of growth than had been expected. Elsewhere, the producer-price index jumped 0.4% in November, largely because of higher wholesale margins in the extremely volatile retail category.

Ahead of oils settlement on Wednesday, the U.S. Federal Reserve announced the first interest-rate increase in a year, which caused the dollar to strengthen, putting further pressure on dollar-denominated prices of crude.

Bullion prices ended higher at Comex on Wednesday, 15 December 2016 at Comex. Gold futures settled higher on Wednesday, then retreated in electronic trading as the dollar strengthened on the heels of the U.S. Federal Reserves decision to raise interest rates for the first time in 12 months.

Gold for February delivery was at $1,156.20 an ounce in electronic trading shortly after the Fed announcement, down from Wednesdays settlement of $1,163.70. Wednesdays finish marked a rebound of $4.70, or 0.4% from Tuesdays settlement, at a roughly 10-month low. March silver rose 24.4 cents, or 1.4%, to $17.221 an ounce.

Crude oil futures settled lower on Wednesday, 15 December 2016 for the first time in five sessions, pressured as a monthly report from OPEC showed that member output rose in November, fueling doubts over a recent agreement to curb production. The Organization of the Petroleum Exporting Countries also said it would need help from non-cartel producers to reduce a supply glut in the market.

January West Texas Intermediate crude fell $1.94 cents, or 3.7%, to settle at $51.04 a barrel on the New York Mercantile Exchange. February Brent crude shed $1.82, or 3.3%, to $53.90 a barrel on the ICE Futures exchange in London. Both crude grades settled Tuesday at their highest levels since July 2015.

Treasury yields shot higher after the announcement, with the yield on the U.S. two-year Treasury touching its highest level since August 2009.

Among stocks under focus, Johnson & Johnson said late Tuesday that it has dropped talks to buy Swiss drug company Actelion Pharmaceuticals because the deal price had gotten too high. French drug giant Sanofi SA is now in talks for a deal with Actelion. Shares of J&J fell 0.8%.

Investor participation was ahead of average with more than 1.2 billion shares changing hands at the NYSE floor.

Tomorrow will also be pretty busy on the economic front with weekly initial claims (consensus 256K), November CPI (consensus 0.2%), December Philadelphia Fed (consensus 9.0), December Empire Manufacturing (consensus 3.0), and Q3 Current Account Balance (consensus -$111.60 billion) all set to be released at 8:30 ET. The December NAHB Housing Market Index (consensus 63) will be reported at 10:00 ET.

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US stocks set fresh records again
Dec 14,2016

U.S. stocks set fresh records on Tuesday, 13 December 2016 with the Dow Jones Industrial Average closing at a high for the seventh session in a row as it moved within 100 points of the 20,000 milestone ahead of the Federal Reserves interest-rate decision Wednesday. With the market believing that a rate hike will be announced tomorrow for all the right economic reasons, equity indices were free to continue their climb to stratospheric heights. Both the S&P 500 and Nasdaq ended at record levels with the large-cap index hitting its 18th closing high.

The Dow climbed 114.78 points, or 0.6%, to end at 19,911.21 after touching an intraday high of 19,953.75. The S&P 500 index rose 14.76 points, or 0.7%, to close at 2,271.72, with nine of the indexs 11 sectors in positive territory. The tech-heavy Nasdaq Composite Index added 51.29 points, or 1%, to finish at 5,463.83.

Intel and Exxon Mobil contributed the most to the rise in the benchmark.

The market is pricing in a nearly 100% chance that the Federal Open Market Committee will lift key interest rates, which leaves much attention on clues for future policy decisions.

The central bank will deliver its rate announcement on Wednesday at 2 p.m. Eastern time. The bank is widely expected to raise its benchmark rate by 25 basis points.

The U.S. Dollar Index, a gauge of the greenbacks performance against a basket of six rival currencies, traded at 101.07.

U.S. stocks also benefited from an uptick in demand for risky European assets. Earlier, UniCredit said it plans to shed n++17.7 billion ($18.9 billion) in bad debt. The move, which will help to restore Italys largest lender to health, assuaged fears about Italys troubled banking sector.

Strong readings on Chinese industrial production and retail sales provided more evidence that the worlds second-largest economy steadied in November, helping to boost global risk sentiment.

In other economic news, the NFIB small-business index jumped by the largest monthly amount in more than seven years in November on optimism Trumps administration will spur an increase in business activity.

Oil prices settled modestly higher, but below $53 a barrel. The International Energy Agency lifted its demand forecasts for 2016 and commitment by members of the Organization of the Petroleum Exporting Countries to cut oil production have boosted oil prices in recent days.

Treasuries saw gains in overnight action, but the 10-yr note returned to its flat line by the close. The benchmark yield settled at 2.47% while the 2-yr yield rose two basis points to 1.17%. The long bond ended higher, pressuring its yield two basis points to 3.14%.

Todays participation was above average as more than one billion shares changed hands at the NYSE floor.

Investors received just one economic report today. Import prices excluding oil decreased 0.1% in November after declining 0.1% last month while export prices excluding agriculture also declined 0.1% after increasing 0.2% in October.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while November Retail Sales (consensus 0.3%) and November PPI (consensus 0.1%) will cross the wires at 8:30 ET. November Industrial Production (consensus -0.1%) and Capacity Utilization (consensus 75.1%) will be reported at 9:15 ET while October Business Inventories (consensus -0.1%) will be released at 10:00 ET.

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Asia Pacific Market: Stocks edge higher ahead of Fed meeting
Dec 13,2016

Asia Pacific share market ended marginally higher on Tuesday, 13 December 2016, as investors look ahead to a Federal Reserve policy meeting that is expected to see US borrowing costs increase.

The two-day Federal Open Market Committee meeting will kick off later in the global trading day, when U.S. central bankers will decide whether to raise interest rates. The US central bank is widely expected to raise interest rates on Wednesday for the first time this year and only the second time since the global financial crisis.

Rate rises by the Federal Reserve typically spook emerging markets, as investors tend to pull out their money and repatriate it to the U.S. in search of higher yields.

Among Asian bourses

Australia Stocks muted ahead of Fed meeting

Australian share market closed slight down, as investors elected to book recent profit on caution ahead of a two-day US Federal Reserve meeting, in which the central bank is expected to raise its reference interest rate and may also give markets a glimpse of its plans for the coming year. Investors will also be looking to for Chinas industrial output data for November due later in the day. Commodity firms and financials made up more than two-thirds of the losses on the index, offsetting gains from real estate and healthcare shares. At the closing bell, the benchmark S&P/ASX 200 index declined 17.80 points, or 0.32%, to 5545, while the broader All Ordinaries index dropped 18.40 points, or 0.33%, to close at 5600.70.

Mining stocks were down, pressured by falls in commodity prices. Rio Tinto lost 2.5% to A$61.25 and BHP Billiton 0.8% to A$26.12. Fortescue lost 6% to A$6.43.

Financial stocks slipped, with the Big Four banks leading losses on tracking their US peers and ending a five-session streak of gains. Among major banks, Westpac declined 1.2% to A$31.92, Commonwealth Bank of Australia 0.7% to A$80.38, National Australia Bank 0.3% to A$29.61, and Australia & New Zealand Banking Group 0.1% to A$29.78.

Defensive stocks including healthcare and consumers counters saw gains, with retail giants Wesfarmers and Woolworths adding 1.3% and 0.4%, respectively. Medical device marker ResMed Inc added 0.6%, while CSL climbed 2.3%.

Energy stocks also gained after oil prices hit an 18-month high after Opec and some non-members agreed to cut output. Woodside Petroleum rose 0.5% to A$31.65, Santos added 0.4% to A$4.54 and Oil Search jumped 0.8% to A$7.21.

Nikkei hits fresh one-year high

The Japan share market closed at fresh one-year high after erasing early losses, thanks to investors strong buying appetite on bets that the Federal Reserve will raise rates this week and provide a steer on future monetary policy in the wake of Republican Donald Trumps election win last month. The 225-issue Nikkei average rose 95.49 points, or 0.50 percent, to end at 19,250.52, marking its highest closing level since Dec. 17, 2015. The Topix index of all first-section issues finished up 8.82 points, or 0.58 percent, at 1,540.25.

Higher oil prices helped lift oil distributors JX Holdings, Idemitsu and Showa Shell. Kao attracted buying as investors welcomed the daily goods makers medium-term business plan released on Monday. NTT was also buoyant a day after announcing a plan to buy back own shares. Other major winners included drug maker Astellas, power firm Tepco Holdings and clothing store chain operator Fast Retailing.

Japanese electronics giants Sony, Panasonic and Sanyo were fined a total of 166 million euros ($176 million) by EU regulators on Monday for colluding on prices for rechargeable batteries. However, Sony and Panasonic ended up as they shrugged off the fine.

By contrast, financial issues that had led the market rally, such as mega-bank groups Mitsubishi UFJ, Mizuho and Sumitomo Mitsui, insurer Dai-ichi Life and brokerage firm Nomura, met with profit-taking after their U.S. peers fell in New York trading overnight. Brewer Asahi Group plunged following news reports that it agreed to pay nearly $8 billion for AB InBevs beer operations in five Eastern European countries. Major electronics parts maker Nidec fell after US-based research firm Muddy Waters said it was short-selling the firm.

China Market ekes out gain

Mainland China stock market closed marginally higher after recouping initial losses, thanks to better-than expected November retail sales and factory output data which encouraged bargain-hunting after the previous sessions slump. Most sectors rallied, led by consumer and energy shares, while banks and infrastructure stocks lagged. The Shanghai Composite Index rose 0.07% to 3,155.04, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.33% to 1,975.88. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.03% to close at 1,985.04 points.

On Monday, China stocks suffered their biggest drop since June to hit a one-month low. Investors were rattled by fresh regulatory curbs on insurers stock investments, and worries about incoming US president Donald Trumps China policy. The selloff continued early Tuesday morning, but sentiment improved after the release of stronger-than-expected factory output and retail sales figures.

Chinas retail sales growth picked up to 10.8 percent year-on-year in November, the highest since December 2015, the National Bureau of Statistics said on Tuesday. In the same month, industrial output rose by 6.2 percent year-on-year, up from 6.1 percent in October. Urban fixed-asset investment growth was 8.3 percent in the first 11 months, unchanged from the January-October period, while private investment growth increased by 3.1 percent in the first 11 months, up from 2.9 percent in the first 10 months.

Hong Kong Market closes marginally higher

The Hong Kong stock market finished firmer, after the Dow closed at record highs for six straight days overnight. But gains were limited on caution ahead of the Federal Reserve two-day policy board meeting which concludes on Wednesday, where interest rates will likely increase for the second time in a decade. The Hang Seng Index ended up 0.06%, or 13.68 points, to 22,446.70, while the Hang Seng China Enterprises index rose 0.21%, or 20.63 points, to 9,719.94.

Shares of energy companies continued upward rally after crude oil prices rose to 18-month high on Monday. PetroChina (00857) soared 5.3% to HK$5.76. Sinopec (00386) edged up 0.9% to HK$5.662. The company plans a 50% pipeline stake for RMB22.8bn. The buyers include China Life (02628), which inched up 0.5% to HK$21.5.

Property counters were softer ahead of the US FOMCs rate meetings. Link REIT (00823) slipped 1.8% to HK$52.65. Sino Land (00083) declined 1.2% to HK$11.92.

HSBC (00005) slipped 1% to HK$63.9. The global bank yesterday bought back GBP52.8 million worth of shares in London market. It was the largest repurchase deal since it announced the move. The bank also spent 90% of its repurchase fund.

Utilities players were mixed after reports two HK power companies reported their tariff adjustment proposals to the Legislative Council. Insiders said HK Electric (02638) plans to cut tariff by 1% while CLP (00002) may freeze its tariff. HK Electric inched up 0.2% to HK$6.75. CLP softened 0.4% to HK$73.45.

Malaysian Markets Ends Higher

Stock market in Malaysia finished higher, but gains were modest as investors were jittery and cautious in the lead-up to the two-day US Federal Open Market Committee (FOMC) meeting, beginning tomorrow, where US bankers will decide whether to raise interest rates. The market was closed on Monday for the Maulidur Rasul holiday. At the local close, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished at 1,645.28, up 3.86 points, from 1,641.42 on Friday. After opening 10.03 points higher at 1,651.45, the index moved between 1,641.93 and 1,651.45 throughout the day. The market traded within a range of 9.52 points between an intra-day high of 1651.45 and a low of 1641.93 during the session.

The Malaysian ringgit closed easier against the US dollar today on lack of buying interest as investors braced for the outcome of the US Federal Reserve policy meeting on increasing interest rates. At the local close, the ringgit was traded at 4.4340/4390 against the US dollar from 4.4215/4255 on Friday.

Indian Market ends with decent gains

Key benchmark indices registered modest gains. The barometer index, the S&P BSE Sensex, rose 182.58 points or 0.69% to settle at 26,697.82. The Nifty 50 index rose 51 points or 0.62% to settle at 8,221.80. Both the Sensex and the Nifty almost hovered in positive terrain throughout the trading session after initial volatility. The two key indices extended intraday gains towards the later part of the trading session.

Axis Bank rose 1.74% after the bank announced that it proposes to raise funds by issuing non-convertible debentures aggregating to Rs 3500 crore. The board of directors of the bank will consider the proposal to issue and allot the above securities through circular resolution. The announcement was made after market hours yesterday, 12 December 2016.

Yes Bank rose 1.17%. The bank during market hours today, 13 December 2016 said it has partnered with Grofers, the on-demand e-commerce mobile and web application. With this partnership, Grofers customers will be able to get currency notes delivered to their doorstep along with their grocery order for up to Rs 2,000 through Yes Banks PoS machines.

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Hong Kong Market closes marginally higher
Dec 13,2016

The Hong Kong stock market finished firmer on Tuesday, 13 December 2016, after the Dow closed at record highs for six straight days overnight. But gains were limited on caution ahead of the Federal Reserve two-day policy board meeting which concludes on Wednesday, where interest rates will likely increase for the second time in a decade. The Hang Seng Index ended up 0.06%, or 13.68 points, to 22,446.70, while the Hang Seng China Enterprises index rose 0.21%, or 20.63 points, to 9,719.94.

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China Market ekes out gain
Dec 13,2016

Mainland China stock market closed marginally higher after recouping initial losses on Tuesday, 13 December 2016, thanks to better-than expected November retail sales and factory output data which encouraged bargain-hunting after the previous sessions slump. Most sectors rallied, led by consumer and energy shares, while banks and infrastructure stocks lagged. The Shanghai Composite Index rose 0.07% to 3,155.04, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.33% to 1,975.88. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.03% to close at 1,985.04 points.

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Australia Stocks muted ahead of Fed meeting
Dec 13,2016

Australian share market closed slight down on Tuesday, 13 December 2016, as investors elected to book recent profit on caution ahead of a two-day US Federal Reserve meeting, in which the central bank is expected to raise its reference interest rate and may also give markets a glimpse of its plans for the coming year. Investors will also be looking to for Chinas industrial output data for November due later in the day. Commodity firms and financials made up more than two-thirds of the losses on the index, offsetting gains from real estate and healthcare shares. At the closing bell, the benchmark S&P/ASX 200 index declined 17.80 points, or 0.32%, to 5545, while the broader All Ordinaries index dropped 18.40 points, or 0.33%, to close at 5600.70.

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Nikkei hits fresh one-year high
Dec 13,2016

The Japan share market closed at fresh one-year high after erasing early losses on Tuesday, 13 December 2016, thanks to investors strong buying appetite on bets that the Federal Reserve will raise rates this week and provide a steer on future monetary policy in the wake of Republican Donald Trumps election win last month. The 225-issue Nikkei average rose 95.49 points, or 0.50 percent, to end at 19,250.52, marking its highest closing level since Dec. 17, 2015. The Topix index of all first-section issues finished up 8.82 points, or 0.58 percent, at 1,540.25.

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US stocks register another record close
Dec 13,2016

U.S. stocks struggled for direction on Monday, 12 December 2016 with the Dow notching the latest in a string of record closes, while the S&P 500 and Nasdaq finished lower. Major indexes had fluctuated between positive and negative territory with investors appearing reluctant to push shares higher following pronounced gains for Wall Street ahead of a key meeting by the Federal Reserve.

The Dow Jones Industrial Average climbed 39.58 points, or 0.2%, to close at 19,796.43, after setting an intraday record of 19,824.59. The Nasdaq Composite Index fell 31.96 points, or 0.6%, to finish at 5,412.54. The S&P 500 dipped 2.57 points, or 0.1%, to finish at 2,256.96.

Gains in Dow were led by shares of Johnson & Johnson and Wal-Mart Stores. Monday marked the sixth consecutive record close for the average.

Big-name technology shares finished lower on the day, contributing to the Nasdaqs decline. Apple fell 0.6% while Facebook lost 1.6%. Amazon.com fell 1.1%.

The Federal Reserve is widely expected to raise rates on Wednesday. Higher rates typically cause the dollar to strengthen, which often weighs on commodities priced in dollars. Rate increases also can peel investors away from gold because it doesnt pay interest.

On Monday, the ICE U.S. Dollar Index was down nearly 0.7%, providing some support for dollar-denominated gold prices. But year to date, the index has climbed over 2%.

Todays economic data was limited to the Treasury Budget statement for November, which showed a deficit of $137 billion while the consensus expected a deficit of $135 billion.

Oil futures rallied to their highest close in nearly 17 months on Monday, 12 December 2016 after more oil-producing nations agreed to slash production, a move aimed at pushing the oversupplied oil market back into balance, or even a deficit, and prop up prices that have been stuck in a two-year slump.

On the New York Mercantile Exchange, January West Texas Intermediate crude climbed by $1.33, or 2.6%, to settle at $52.83 a barrel. February Brent crude, the global oil benchmark, added $1.36, or 2.5%, to $55.69 a barrel on Londons ICE Futures exchange. Both WTI and Brent crude logged their highest settlements since July 2015.

Over the weekend, a group of heavyweight producers outside of the Organization of the Petroleum Exporting Countries, including Russia, agreed to scale back their output by 558,000 barrels a day. The move would come on top of the cut of 1.2 million barrels a day agreed to by OPEC in late November. The total reduction represents almost 2% of the global supply.

Bullion prices ended higher at Comex on Monday, 12 December 2016 at Comex. Gold futures settled higher reversing course from earlier declines after finding support from a weaker dollar ahead of a U.S. interest-rate rise that is expected later this week.

Gold for February delivery edged up by $3.90, or 0.3%, to settle at $1,165.80 an ounce after tapping a low of $1,152.50. The metal has suffered five weekly losses in a row, settling Friday at its lowest level in 10 months. March silver tacked on 22 cents, or 1.3%, to $17.187 an ounce.

Bullion prices ended higher at Comex on Monday, 12 December 2016 at Comex. Gold futures settled higher reversing course from earlier declines after finding support from a weaker dollar ahead of a U.S. interest-rate rise that is expected later this week.

Gold for February delivery edged up by $3.90, or 0.3%, to settle at $1,165.80 an ounce after tapping a low of $1,152.50. The metal has suffered five weekly losses in a row, settling Friday at its lowest level in 10 months. March silver tacked on 22 cents, or 1.3%, to $17.187 an ounce.

Treasuries retreated overnight, but most of the losses were erased intraday, leaving the 10-yr yield higher by a basis point at 2.48%.

Investor participation was above average as nearly 1.2 billion shares changed hands at the NYSE floor.

Tomorrows economic data will be limited to the 8:30 ET release of November Import Prices ex-oil and Export Prices ex-agriculture.

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Asia Pacific Market: Stocks drop ahead of Fed meeting
Dec 12,2016

Asia Pacific share market mostly down on Monday, 12 December 2016, as traders took profits after a post-US election rally and on caution ahead of the U.S. Federal Reserves meeting this week that was expected to deliver an interest rate hike. The MSCI Asia Pacific Index fell 0.5 per cent to 137.69.

The US central bank is widely expected to raise interest rates for the first time in 2016 at a two-day meeting that begins on Tuesday, even as investors wait to see if policymakers take a more cautious tone on the economy. Investors will be watching whether Trumps election win will affect the Feds outlook for rate increases next year

Oil prices soared in early Asian trade, as investors react to the weekends news of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries led by Russia arriving at their first output cutting agreement in Vienna, a first since 2001. The deal will help to ease a global supply glut after more than two years of low prices. U.S. crude soared 4.76 percent to $53.95 a barrel during Asian trade, as Brent crude jumped 4.2 percent to $56.61.

Over the weekend, the Organization of the Petroleum Exporting Countries reached an agreement with other oil-producing nations to remove 558,000 barrels a day of crude oil from the market. That would come on top of 1.2 million barrels a day in cuts already agreed to by OPEC, amounting to a total of almost 2% of global oil supply.

Among Asian bourses

Australia Market at 4-month high on boost from oil firms, financials

Australian share market ended marginally higher after hitting their highest in four months in early trading, as gains in oil and gas stocks offset losses elsewhere. At the closing bell, the benchmark S&P/ASX 200 index advanced 2.20 points, or 0.04%, to 5562.80, its highest close since Aug 1, while the broader All Ordinaries index inclined 3.30 points, or 0.06%, to close at 5619.10.

Shares of energy companies spurted, after oil prices rose to the highest in a year and a half high on Monday, after Opec and non-Opec producers agreed to cut oil output. Woodside Petroleum rose 2.9% to A$31.48 and Origin Energy gained 3.7% to A$6.79. Santos added 5.1% to A$4.52 and Oil Search jumped 3.5% to A$7.15.

Mining stocks were also higher as basic materials rose on the underlying bullish market sentiment for iron ore and steel, though the respective futures in China edged lower on Friday on profit-taking after a six-day rally. Rio Tinto added 0.2% to A$62.79 and BHP ended up 1.3% to A$26.32. Fortescue added 2.4% to A$6.84.

Flight Centre shares fell 7.5% to A$30.50 after Morgan Stanley statedin latest report that Flight Centres guidance for the second half of 2017 looks too bullish. Qantas followed, losing 3.2% to close at A$3.32.

Nikkei rises to fresh one-year high

The Japan share market inclined to a one-year high, on tracking strong lead from Wall Street Friday and yen depreciation to upper 115 level against greenback triggered by bets that the Federal Reserve will raise rates this week. The Nikkei Stock Average rose 158.66 points, or 0.8%, to 19155.03, the highest level since December 17, 2015. The Topix index of all first-section issues finished up 6.07 points, or 0.4%, at 1,531.43.

Several food and other so-called defensive stocks, which are supported by stable domestic demand, led the market higher. Food maker Ajinomoto rose 4.6% to Y2,335.0. Beverage maker Kirin Holdings gained 3.9% to Y1,959.5.

Energy stocks rose after oil-producing nations, including Russia and Oman, reached a deal over the weekend to cut output along with the Organization of the Petroleum Exporting Countries. Japan Petroleum Exploration advanced 3.8% to 2,894 yen. Another oil explorer, Inpex, added 0.8% to Y1,257.5.

Bank issues were sold off as investors moved to secure profits after a recent rally. Mitsubishi UFJ Financial Group fell 1.3% to Y752.60 and Sumitomo Mitsui Financial Group slipped 1% to Y4,683.

China Market tumbles 2.47%

Mainland China stock market tumbled, as blue-chips were knocked by fresh regulatory curbs to rein in insurers aggressive stock investments, while rising bond yields prompted profit-taking in equities. Meanwhile, comments Sunday by U.S. President-elect Donald Trump that there may be a change in the U.S.s acceptance of the n++one Chinan++ principle, a cornerstone policy that has helped maintain peace between China and Taiwan, also hurt investor sentiment. The Shanghai Composite Index slipped 2.47% to 3,152.97, the largest one day drop in six months, while the CSI 300 n++ which tracks large companies listed in Shanghai and Shenzhen n++ slipped 2.42%. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, declined 4.86% to 1,969.32. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, fell 5.5% to close at 1,984.40 points.

Chinas insurance regulator, which recently warned it would curb barbaric acquisitions by insurers, said late on Friday it had suspended Evergrande Life, the insurance arm of China Evergrande Group, from conducting stock market investment. That hit the market hard as insurers relentless buying in modestly-priced industry-leading blue-chips was one of the main drivers behind the recent strong advance in the market. The sell-off was exacerbated by signs of tighter liquidity in the banking system, signalled by a slump in bond future contracts, whose prices move inversely with yields.

Also on Friday, Foresea Life, an arm of Chinese financial conglomerate Baoneng Group, pledged to gradually reduce holdings in a Shenzhen-listed, home-appliance heavyweight. This would mean an unwinding of the stake-building activity that led to harsh disapproval from Chinese regulators.

Shares of Chinese insurers were among the big decliners in the A-shares market on Monday, with China Life Insurance paring earlier losses to end down 1.1%, and New China Life Insurance ending 1.8% lower after steep declines initially.

Shenzhen-listed China Vanke Co., the countrys second-largest real-estate developer, tumbled 6.3%. As of the end of November, China Evergrande Group, via unspecified n++affiliated companies,n++ had scooped up a 14.07% stake in Vanke, according to the latters filing to the stock exchange.

China State Construction Engineering Corp., the nations top home builder, dropped 5%. Anbang Insurance Group Co., now the second-largest shareholder of the state-run firm, has accumulated a 10% stake in it over the past months. Similarly, Gree plunged 6.1% after Foresea Lifes announcement about phasing out its roughly 4% investment.

Hong Kong Market falls on property, insurer stocks selloff

The Hong Kong stock market finished down on caution ahead of the Federal Reserve two-day policy board meeting which concludes on Wednesday, where interest rates will likely increase for the second time in a decade. Meanwhile, selloff pressure intensified after mainland Chinese stocks suffered their worst loss in six months amid concern over the countrys ties with the U.S. and on measures to regulate insurance money into equity markets. The Hang Seng Index ended down 1.44%, or 327.96 points, to 22,433.02, while the Hang Seng China Enterprises index declined 1.71%, or 168.64 points, to 9,699.31. Turnover increased to HK$77.7 billion from HK$76.4 billion on Friday.

Property counters were pressured on cautious ahead of a Federal Reserves policy meeting later this week which is widely expected to bring a US interest rate hike for the first time this year. Hong Kongs currency peg to the US dollar ensures that interest rates follow that of the United States, meaning higher borrowing costs for real estate developers. CK Property (01113) sank 3% to HK$51.3. SHKP (00016) and New World (00017) dipped 2.5% and 1.4% to HK102.6 and HK$8.66.

Chinese insurers were softer after mainland equity market slump. NCI (01336), China Life (02628) and Ping An (02318) slipped 4.7%, 3.6% and 1.3% respectively.

Shares of Casino players continued their retreat after sharp declines on Friday, following a report by the Post about greater restrictions on mainland-issued China Union Pay bank cards, which came into effect Saturday. Galaxy Entertainment Group dropped 1.43% and Wynn Macau was down 2.29%.

Indian Market snaps 2-day winning streak

Banking, telecom and index heavyweights ITC and Infosys led modest-to-strong losses for key benchmark indices. The barometer index, the S&P BSE Sensex, fell 231.94 points or 0.87% to settle at 26,515.24. The Nifty 50 index fell 90.95 points or 1.10% to settle at 8,170.80. Weakness in European stocks weighed on sentiment on the domestic bourses. Adding to global cues, domestic data over the weekend showing decline in the industrial production in October affected investors sentiment.

Axis Bank fell 2.56%. The bank announced the acquisition of shares representing 13.67% of the total paid up capital in Assets Care and Reconstruction Enterprise from IFCI at Rs 31 per share for cash aggregating Rs 22.72 crore. The announcement was made after market hours on Friday, 9 December 2016.

IndusInd Bank fell 2.41%. The bank announced that the finance committee of the board on Friday, 9 December 2016, allotted 15,000 unsecured redeemable non-convertible bonds in the nature of debentures for an amount of Rs 1500 crore, to the identified investors on private placement basis. The announcement was made after market hours on Friday, 9 December 2016.

Indias industrial production declined 1.9% in October 2016 over October 2015. Twelve out of 22 industry groups in the manufacturing sector showed negative growth in October 2016. The data was released by the government after market hours on Friday, 9 December 2016.

Elsewhere in the Asia Pacific region: New Zealands NZX50 shed 0.2% to 6864.94. Indonesias Jakarta Composite index added 0.1% to 5308.13. Taiwans Taiex fell 0.5% to 9349.94. South Koreas KOSPI index was up 0.1% to 2027.24. Malaysias KLCI slipped 0.1% to 1641.42. Singapores Straits Times index fell 0.1% to 2952.19.

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Record close for US stocks
Dec 12,2016

U.S. stocks closed at a record on Friday, 09 December 2016 with the S&P 500 notching its best winning streak since June 2014 and the Dow Jones Industrial Average extending gains for a fifth week. All three major indexes touched intraday highs during the session with the S&P 500 and the Dow up 3.1% and the Nasdaq rallying 3.6% on the week.

The Dow Jones Industrial Average advanced 142.04 points, or 0.7%, to close at record 19,756.85 while the Nasdaq Composite Index rose 27.14 points, or 0.5, to close at a high of 5,444.50. The S&P 500 index added 13.34 points, or 0.6%, to end at a historic high of 2,259.53.

Investors focused on sectors that have lagged behind the broader market rally, driving health-care stocks higher.

Overall, the Friday affair was fairly quiet, allowing the market to continue respecting post-election trends. Equity indices climbed off their opening levels thanks to strength in sectors like health care, consumer staples and technology. The three influential groups provided an early boost while most of the remaining sectors saw inflows as the day went on. The relentless push higher invited another extension of gains during the final hour.

Financial markets are anxiously awaiting the details of that December 13-14 meeting. It is the pacing of the reversal of easy monetary policy next year thats captured the markets attention lately.

On Friday, the ICE U.S. Dollar Index which gauges the bucks strength against six other currencies, climbed 0.5%, trading about 1% higher for the week. Strength in the buck can undercut demand for commodities, including gold, making them less attractive for holders of other currencies, and higher interest rates tend to lift the dollar and increase demand for higher-yielding alternatives to nonyielding gold.

With the Fed meeting looming, the dollar-positive monetary policy gap between the U.S. and other economic powerhouses becomes more obvious. The European Central Bank on Thursday announced it will extend its quantitative-easing program until December 2017 and possibly beyond that, which sent the euro lower against the dollar. The central bank, however, will reduce its bond-buying firepower after March. The bank did hold pat on interest rates, as expected.

Economic data at Wall Street included Wholesale Inventories and Michigan Sentiment. Wholesale inventories decreased 0.4% month-over-month in October, as expected, following an unrevised 0.1% decline in September. Wholesale sales were up 1.4% on the heels of an upwardly revised 0.4% increase in September. Separately, the preliminary reading for the University of Michigan Consumer Sentiment Index for December checked in at 98.0 (consensus 94.3), up from the final November reading of 93.8.

Bullion prices ended lower at Comex on Friday, 09 December 2016. Gold futures finish Friday at their lowest levels since February, marking their fifth weekly loss in a row, as the dollar firmed in anticipation of an interest rate hike at next weeks Federal Reserve meeting.

Gold for February delivery declined by $10.50, or 0.9%, to settle at $1,161.90 an ounce. Prices marked their lowest finish since early February, and lost roughly 1.1% for the week. That was longest stretch of consecutive weekly losses this year. March silver ended at $16.967 an ounce, down 12.9 cents, or 0.8%. Prices had a strong midweek advance, leaving them up roughly 1.3% for the week.

Oil futures finished higher on Friday, 09 December 2016 for a second consecutive session with some of the worlds biggest crude producers expected to hold a meeting this weekend to fine-tune last months agreement to curb production. Prices for the week, however, logged a modest loss as some doubts of full cooperation with the pact lingered.

West Texas Intermediate crude oil for January delivery tacked on 66 cents, or 1.3%, to settle at $51.50 a barrel on the New York Mercantile Exchange, adding to a 2.2% gain from Thursday. For the week, prices ended about 0.4% lower after a more than 12% jump last week. February Brent crude gained 44 cents, or 0.8%, to $54.33 on the ICE Futures exchange in London. It was just over 0.2% lower for the week.

Investor participation was below average as fewer than 900 million shares changed hands at the NYSE floor.

Mondays economic data will be limited to the November Treasury Budget statement, which will be released at 14:00 ET.

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