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Australia Market ends softer ahead of RBA rate decision
May 02,2016

Australian share market ended softer on Monday, 02 May 2016, as risk sentiments subdued on caution ahead of the Reserve Bank of Australia rate decision. Most of the industry group declined with shares in the Financials, Consumer Discretionary and IT sectors being major losers. At close of trade, the benchmark S&P/ASX 200 declined 9.20 points, or 0.18%, to 5243. The broader All Ordinaries fell 4 points, or 0.08%, to 5312. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 548 to 521 and 331 ended unchanged.

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Nikkei tumble 3.1%
May 02,2016

The Japan share market ended sharply lower on Monday, 02 May 2016, extending selloff streak for fifth straight session, due to Bank of Japans inaction on last Thursday, yens surge to a new 1n++-year high against the dollar, and weak earnings results from several firms. All 33 TSE industry sectors were down, with Marine Transportation, Glass & Ceramics Products, I Electric Appliances, Transportation Equipment, Securities & Commodities Futures, and Rubber Products stocks being major losers. The 225-issue Nikkei average tumbled 518.67 points, or 3.11%, to close at 16147.38. The Topix index of all first-section issues ended down 40.59 points, or 3.03%, at 1299.96. Japanese markets were closed on Friday for a national holiday.

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Asia Pacific Market: Stocks down on weak offshore lead, ahead of key data
Apr 29,2016

Asia Pacific share market declined on Friday, 29 April 2016, as risk sentiments turned subdued on tracking weak lead from Wall Street overnight and on caution before release of important economic indicators globally next week.

Regional stock market commenced trading with backfoot after BoJs inaction on Thursday the US advance GDP reading fell short of expectations. The US Q1 GDP growth slowed to 0.5%, comparing to prior quarters 1.4% and missed expectation of 0.7%. Fed again left the monetary policy unchanged with Kansas City Fed president Esther George the only members favoring a rate hike. Policymakers downgraded the assessment of economic activities but added the moderation in pace should be transitory. While acknowledging improvement in the labor market, the central bank saw little evidence that inflation and inflation expectations were firming. The risk language was removed, while discussions are that balance of risk was not found, in the April statement. It was, however, replaced by the pledge that the Fed would continue to closely monitor inflation indicators and global economic and financial developments.

BoJ kept monetary policies unchanged. Interest was held at -0.1% while target of annual monetary base expansion was maintained at JPY 80T. Meanwhile, BoJ created a JPY 300b loan program to provide funds to financial institutions hit by earthquake, at zero interest. BoJ also lowered inflation forecast and pushed back the timing for meeting 2% target by 6 months. That is, BoJ now projects inflation to climb back to target until March 2018. The move, or the lack of move, caught markets by a surprise and there were some expectations of additional monetary stimulus from this meeting. Japan national CPI core dropped to -0.3% yoy in March while Tokyo CPI core was unchanged at -0.3% yoy. Unemployment rate dropped to 3.2%, household spending dropped -5.3% yoy, retail sales dropped -1.1% yoy, industrial production rose 3.6% mom, housing starts rose 8.4% yoy.

Among Asian bourses

Australia Market ends 0.51% up on resources rally

Australian share market ended stronger after reversing early losses on Friday, 29 April 206, with shares of materials and resources and energy companies being major gainers on stronger commodity prices. At close of trade, the benchmark S&P/ASX 200 added 26.80 points, or 0.51%, to 5252.20. The broader All Ordinaries grew 26.60 points, or 0.5%, to 5316.

Shares of materials and energy companies went up on tracking strength on commodity prices. Oil prices advanced during Asian hours, with U.S crude futures up 0.46% at $46.24 a barrel. It rose 1.54% overnight. Global benchmark Brent futures also advanced 0.29% to $48.28. In the metal commodities space, Shanghai steel futures were up 5.97%, while the Dalian iron ore futures added 5.96%. Among miners, BHP Billiton grew 0.5% to A$20.68, Rio Tinto 2.5% to A$51.55 and Fortescue Metals 4.9% to A$3.41. Among energy stocks, Santos surged 2.1% to A$4.80, Woodside Petroleum 2.2% to A$28.34 and Origin Energy 0.4% to A$5.49.

Gold stocks rallied as the price of the precious metal hit a year high overnight. Northern Star was 5.4% higher at A$3.87 and Newcrest 3.49% to A$18.97.

The banks and financial were up ahead of next weeks earnings updates and Tuesdays rates decision. Westpac Banking Corp rose 1.2% to A$31.05, ANZ Banking Group 1% to A$24.27, National Australia Bank 0.7% to A$27.19, and Commonwealth Bank 0.1% to A$73.89.

China Market falls to fresh 1-month low

Mainland China stock market ended down after China central bank has raised the yuan exchange rate against the US dollar at the sharpest pace since 2005 and on caution ahead of April factory PMI data during weekend. Sentiments were also downbeat on rising worries about corporate creditworthiness. The benchmark Shanghai Composite Index declined 7.27 points, or 0.25%, to 2938.32. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 3.83 points, or 0.12%, to 3156.75.

Total 6 out of 10 SSE industry group declined, with telecommunication services issue being biggest loser, down 0.7%, followed by financial, down 0.5%. Meanwhile energy and industrial issues each lost 0.5% and 0.4%, respectively. Bucking the trend, consumer staples issue rebounded 1.5%, meanwhile material was up 0.5%.

Banking stocks sagged after Chinese lenders posted flat profit growth amid rising bad debt. Resources shares rebounded after a sharp correction over the past sessions that were triggered by a regulatory crackdown on speculation in the commodities market.

Hong Kong Market suffers steepest loss in three weeks

The Hong Kong stock market finished the session lower on tracking weak lead from Wall Street overnight and on caution ahead of key economy data globally. Most of the industry group declined, with shares of energy producers being major losers sue to poor results from PetroChina and Cnooc. The benchmark Hang Seng Index dropped 320.98 points, or 1.5%, to 21067.05 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, lost 121.46 points, or 1.34%, to 8939.47 points. Turnover reduced to HK$60.7 billion from HK$67.8 billion on Thursday. The local market will close on Monday for May Day holiday.

Global research company IDC forecast worldwide tablet shipments to register decline of 14.7% for the first quarter, the sixth quarter of decline in a row. Lenovo (00992) plunged 3.6% to HK$6.17.

Energy stocks were hardest hit on weaker than expected earnings from industry heavyweights. PetroChina (00857) slid 3.6% to HK$5.71 after reported the worst quarterly loss of RMB13.8 billion since its IPO. CNOOC (00883) dipped 2.3% to HK$9.66 after reporting a decline in revenue. Sinopec (00386) also fell 1.3% to HK$5.53 even though its 1Q earnings doubled. Kunlun Energy (00135) slipped 3.4% to HK$6.76. Aluminum Corp. of China. lost 2.6 percent after first-quarter profit dropped 60 percent from a year earlier on slumping metal prices.

Sensex, Nifty hit lowest level in more than two weeks

After hovering near the flat line in early afternoon trade, key benchmark indices lost ground in afternoon trade, with the barometer index, the S&P BSE Sensex, and the Nifty 50 index, both, hitting their lowest level in more than two weeks. At 13:16 IST, the Sensex was down 142.83 points or 0.56% to 25,460.27. The Nifty was currently down 41.30 points or 0.53% at 7,805.95.

ICICI Bank was down 2.89% at Rs 233.20 after the banks net profit fell 75.98% to Rs 701.89 crore on 14.51% increase in total income to Rs 18590.86 crore in Q4 March 2016 over Q4 March 2015. The result was announced during trading hours today, 29 April 2016.

Bharti Airtel lost 2.82% after the company said it will undertake buyback of shares only after the approval from Delhi High Court for the scheme of amalgamation of its wholly owned subsidiary with the company. Bharti Airtel said that the scheme of amalgamation of Augere Wireless Broadband India (Augere), a wholly owned subsidiary with the company is under consideration for approval by the Delhi High Court. The announcement was made before market hours today, 29 April 2016.

Elsewhere in the Asia Pacific region: New Zealands NZX50 gained 0.5% to 6820.58. South Koreas KOSPI index shed 0.32% to 1994.15. Taiwans Taiex index sank 1.1% to 8377.90. Malaysias KLCI shed 0.1% to 1672.724. Indonesias Jakarta Composite index sank 0.3% to 4835.43. Singapores Straits Times index fell 0.9% to 2837.90. Japan market closed for public holiday.

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Hong Kong Market suffers steepest loss in three weeks
Apr 29,2016

The Hong Kong stock market finished the session lower on Friday, 29 April 2016, on tracking weak lead from Wall Street overnight and on caution ahead of key economy data globally. Most of the industry group declined, with shares of energy producers being major losers sue to poor results from PetroChina and Cnooc. The benchmark Hang Seng Index dropped 320.98 points, or 1.5%, to 21067.05 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, lost 121.46 points, or 1.34%, to 8939.47 points. Turnover reduced to HK$60.7 billion from HK$67.8 billion on Thursday.

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China Market falls to fresh 1-month low
Apr 29,2016

Mainland China stock market ended down on Friday, 29 April 2016, after China central bank has raised the yuan exchange rate against the US dollar at the sharpest pace since 2005 and on caution ahead of April factory PMI data during weekend. Sentiments were also downbeat on rising worries about corporate creditworthiness. The benchmark Shanghai Composite Index declined 7.27 points, or 0.25%, to 2938.32. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 3.83 points, or 0.12%, to 3156.75.

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Market Australia ends 0.51% up on resources rally
Apr 29,2016

Australian share market ended stronger after reversing early losses on Friday, 29 April 2016, with shares of materials and resources and energy companies being major gainers on stronger commodity prices. At close of trade, the benchmark S&P/ASX 200 added 26.80 points, or 0.51%, to 5252.20. The broader All Ordinaries grew 26.60 points, or 0.5%, to 5316.

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Japan market closed for a public holiday
Apr 29,2016

Japanese share market closed on Friday for a public holiday.

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Asia Pacific Market: Stocks mixed after BOJ policy inaction
Apr 28,2016

Asia pacific share market closed mixed on Thursday, 28 April 2016, as surprise Bank of Japan policy inaction offset the positive effect of US Federal Reserves decision to put off an interest rate rise yet again.

The Bank of Japan left its easing program alone, keeping the deposit rate at minus 0.1 per cent and its asset purchases at 80 trillion yen each year. It also pushed back the forecast date for hitting its 2 per cent inflation target. Traders had widely expected the BoJ to unveil fresh measures to shore up the worlds third largest economy after this months deadly earthquakes in southern Japan and a string of weak data.

Overnight, the Federal Reserve kept US interest rates pat and gave an ambiguous outlook on whether it might act in June. The Feds signal that it was in no rush to raise rates. After a much-anticipated policy meeting in the United States, the Fed on Wednesday decided against hiking interest rates and stood by its stance that any further rises would be slow and small as economic growth remained relatively weak. However, its post-meeting statement suggested it was less concerned about the global economic outlook than it was at the start of the year when it cited turmoil in world markets for lowering its forecasts for rate hikes in 2016.

Among Asian bourses

Australia Market bounces 0.73%

Australian share market advanced for the first time in three sessions in row , on speculation of interest rates cut by the Reserve Bank of Australia (RBA) next week following Wednesdays surprisingly low reading on inflation. Meanwhile, buying sentiments also buoyed by stirring speculation of more merger and acquisition activity after a billion-dollar takeover bid for clothing company Pacific Brands. Most industry sectors were up, with materials and resources, energy, and retailers, and consumer goods stocks being major gainers. At close of trade, the benchmark S&P/ASX 200 added 37.70 points, or 0.73%, to 5225.40. The broader All Ordinaries added 38.50 points, or 0.73%, to 5289.40. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 612 to 403 and 308 ended unchanged.

The banks and financial were mixed on concerns about a blowout in bad debts and views the banks margins may come under pressure if they have to pass on any rate cut in full to blunt a political backlash. Westpac Banking Corp fell 0.9% to A$30.67, while ANZ Banking Group rose 0.6% to A$24.02, National Australia Bank 0.4% to A$27.01, and Commonwealth Bank 0.1% to A$73.85.

Shares of materials and energy companies went up on tracking strength on commodity prices, with BHP Billiton up 4.7% to A$20.57, Rio Tinto up 3.9% to A$50.29 and Fortescue Metals up 6.2% to A$3.25. Santos surged 2.4 per cent to A$4.65, Woodside 2 per cent to A$27.98 and Origin 3 per cent higher to A$5.46.

Nikkei tumble after BOJ inactions

The Japan share market stumbled, as risk aversion selloff triggered after the Bank of Japan disappointed by holding off on expanding monetary stimulus. Selloff pressure intensified after official data showed that consumer prices fell 0.3 per cent in March from a year earlier, the first drop in five months. All 33 TSE industry sectors were down, with Land Transportation, Electric Appliances, Iron & Steel, Pharmaceutical, Air Transportation, and Real Estate stocks being major losers. The 225-issue Nikkei average tumbled 624.44 points, or 3.61%, to close at 16666.05. The Topix index of all first-section issues ended down 43.75 points, or 3.16%, at 1340.55.

Japanese bank shares took a huge hit, with Shinsei Bank and Mitsubishi UFJ Financial Group Inc. each down 6 per cent. Kyushu Financial Group tumbled 6.6% while Fukuoka Financial Group plunged 8.3%. Nomura shares plunged 10 per cent following weak earnings results.

Manufacturing automation giant Fanuc Corp slid 9.9% after reporting disappointing earnings, while Nintendo Co fell 8.3% on weak earnings, outlook and plans to sell its majority stake in the Seattle Mariners Major League Baseball team.

China Market ends at 1-month low

Mainland China stock market declined to one-month low, with commodity-linked stocks being major losers in response to fresh regulatory trading curbs. The benchmark Shanghai Composite Index dropped 8.08 points, or 0.27%, to 2945.59. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 5.34 points, or 0.17%, to 3160.58.

Material shares hammered the most among industrial groups after the Dalian Commodity Exchange said overnight it intended to strictly curb excessive speculation on coking coal futures contracts. Commodities exchanges in Dalian, Shanghai and Zhengzhou announced further measures late Tuesday, including higher fees and a reduction in night hours, adding to a raft of moves this month that have made it more expensive for investors to trade. Among the latest changes, the Dalian exchange raised trading fees for iron ore, coking coal and coke, while Shanghai said it would increase margin requirements for steel reinforcement bar and hot-rolled coil, and shorten trading hours. The Zhengzhou exchange raised trading charges and margin requirements for some commodities. Iron ore futures plunged 4.1% yesterday, extending their decline in the past four days to 8.9%. Steel reinforcement bar lost 3.2% and coking coal slid 4.6% as prices responded to the exchange moves.

Jiangxi Copper Co. and Baoshan Iron & Steel Co., which reported a decline in first-quarter net income, both slid at least 1.3%.

Hong Kong Stocks up 0.12%

The Hong Kong stock market ended higher after a volatile ride, as the disappoint over Bank of Japan (BoJ) policy inaction offset the positive effect of US Federal Reserves decision to put off an interest rate rise yet again. The benchmark index opened up 127 points and briefly rose as much as 292 points to three-month high of 21,654 after the FOMC kept interest rate steady. But index reversed gain and fell as much as 106 points after the BOJ caught the market unexpected by keeping its bond-buying scale unchanged. The benchmark Hang Seng Index rose 26.43 points, or 0.12%, to 21388.63 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 23.45 points, or 0.26%, to 9060.93 points. Turnover increased to HK$67.8 billion from HK$54.9 billion on Wednesday.

Property counters were generally higher as the Fed maintained its interest rate unchanged. Sino Land (00083) gained 2% to HK$12.48. CK Property (01113) and Wharf (00004) put on 1% to HK$54.05 and HK$43.25.

Oil prices were on the rise after Feds rate decision, with both Brent futures and crude prices rising 3%. PetroChina (00857) and Sinopec (00386) jumped 2% to HK$5.92 and HK$5.6. But CNOOC (00883) softened 1% to HK$9.89.

Galaxy Ent (00027) declined 3% to HK$26.9 as Goldman Sachs cut its target price to HK$30 after its reported 1Q earnings are inline. Sands China (01928) edged up 0.4% to HK$28.2.

Sensex, Nifty hit lowest closing level in more than two weeks

A disappointment from the Japanese central bank, which held off from expanding monetary stimulus, pulled global stocks lower, with Indian stocks witnessing a sharp slide. The barometer index, the S&P BSE Sensex, slumped 461.02 points or 1.77% to settle at 25,603.10. The Nifty shed 132.65 points or 1.66% to settle at 7,847.25.

Stocks of public sector firms, metal and auto companies and index heavyweights Infosys, ITC, HDFC, Reliance Industries, HDFC Bank led losses for key benchmark indices. The Sensex and the Nifty snapped a two-day winning streak.

Car major Maruti Suzuki India dropped as the Japanese yen strengthened against the dollar after the Bank of Japan surprised financial markets by keeping its main policies unchanged after the conclusion of a two-day monetary policy meeting. HCL Technologies edged lower after the financial results for the quarter ended 31 March 2016 fell below market expectations. Yes Bank moved higher on reports that a total of four foreign brokerages have raised their target price on the Yes Bank stock in the wake of the banks impressive Q4 March 2016 earnings.

Elsewhere in the Asia Pacific region: New Zealands NZX50 gained 0.6% to 6789.98. South Koreas KOSPI index shed 0.72% to 2000.93. Taiwans Taiex index sank 1.04% to 8473.87. Malaysias KLCI shed 1% to 1674.764. Indonesias Jakarta Composite index rose 0.1% to 4848.39. Singapores Straits Times index eased 0.4% to 2862.30.

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Hong Kong Stocks up 0.12%
Apr 28,2016

The Hong Kong stock market ended higher after a volatile ride on Thursday, 28 April 2016, as the disappoint over Bank of Japan (BoJ) policy inaction offset the positive effect of US Federal Reserves decision to put off an interest rate rise yet again. The benchmark index opened up 127 points and briefly rose as much as 292 points to three-month high of 21,654 after the FOMC kept interest rate steady. But index reversed gain and fell as much as 106 points after the BOJ caught the market unexpected by keeping its bond-buying scale unchanged. The benchmark Hang Seng Index rose 26.43 points, or 0.12%, to 21388.63 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 23.45 points, or 0.26%, to 9060.93 points. Turnover increased to HK$67.8 billion from HK$54.9 billion on Wednesday.

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China Market ends at 1-month low
Apr 28,2016

Mainland China stock market declined to one-month low on Thursday, 28 April 2016, with commodity-linked stocks being major losers in response to fresh regulatory trading curbs. The benchmark Shanghai Composite Index dropped 8.08 points, or 0.27%, to 2945.59. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 5.34 points, or 0.17%, to 3160.58.

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Nikkei tumble after BOJ inactions
Apr 28,2016

The Japan share market stumbled on Thursday, 28 April 2016, as risk aversion selloff triggered after the Bank of Japan disappointed by holding off on expanding monetary stimulus. Selloff pressure intensified after official data showed that consumer prices fell 0.3 per cent in March from a year earlier, the first drop in five months. All 33 TSE industry sectors were down, with Land Transportation, Electric Appliances, Iron & Steel, Pharmaceutical, Air Transportation, and Real Estate stocks being major losers. The 225-issue Nikkei average tumbled 624.44 points, or 3.61%, to close at 16666.05. The Topix index of all first-section issues ended down 43.75 points, or 3.16%, at 1340.55.

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Australia Market bounces 0.73%
Apr 28,2016

Australian share market advanced for the first time in three sessions in row on Thursday, 28 April 2016, on speculation of interest rates cut by the Reserve Bank of Australia (RBA) next week following Wednesdays surprisingly low reading on inflation. Meanwhile, buying sentiments also buoyed by stirring speculation of more merger and acquisition activity after a billion-dollar takeover bid for clothing company Pacific Brands. Most industry sectors were up, with materials and resources, energy, and retailers, and consumer goods stocks being major gainers. At close of trade, the benchmark S&P/ASX 200 added 37.70 points, or 0.73%, to 5225.40. The broader All Ordinaries added 38.50 points, or 0.73%, to 5289.40. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 612 to 403 and 308 ended unchanged.

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Asia Pacific Market: Stocks down ahead of key central banks decision
Apr 27,2016

Asia Pacific share market was down on Wednesday, 27 April 2016, amid increased nervousness over the policy outcome from the U.S. Federal Reserve, the Bank of Japan (BOJ) and the Reserve Bank of New Zealand this week.

Fed fund futures are pricing 0% chance of a rate hike by Fed this week and this is the general consensus of the markets. Nonetheless, recent comments from Fed officials argue that Fed is still on track for two rate hike this year. And that happen in June and December. Thus, a major focus this week will be any chance in the language in FOMC statement that hints on a June hike. Currently markets are pricing in only 23% chances of rate hike in June. But the pricing for at least one hike by September is 49% and 71% by December. Thats quite significantly higher than prior months pricing around 40% by September and 55% by December.

The Bank of Japans (BOJ) two-day monetary policy meeting began today, 27 April 2016. Speculation is rife that the Japanese central bank will announce further easing of monetary policy. The BOJ in January decided to begin charging 0.1% interest on some bank reserves parked with the institution, in a bid to kick-start the economy and pull it out of two decades of deflation.

Crude oil prices hit 2016 highs after the World Bank on Tuesday raised its forecast for crude oil prices by about 11%, citing expectations for a reduction in the global supply glut. The crude oil rally was also underpinned by a weaker dollar, which fell on expectations that the U.S. Federal Reserves Federal Open Market Committee (FOMC) will keep interest rates at existing levels.

The multi-lateral institution, which provides loans to developing countries, expects crude oil prices to average US$41 a barrel this year, compared with a previous forecast for US$37. The estimate for this year still marks a decline of 19% from last year. Oversupply in the global crude oil market is expected to recede, according to the quarterly Commodity Markets Outlook report.

On Tuesday, Brent and U.S. crudes West Texas Intermediate (WTI) futures finished regular trading about 3% higher. In post-settlement trade, both benchmarks rose more than 4%. Brent crude futures finished up $1.26 at $45.74 a barrel. In post-settlement trade, it rose as much as $2.01 to a 2016 high of $46.49. U.S. crude futures settled up $1.40 at $44.04. It gained $2.19 in after-hours trade to reach a year-to-date peak of $44.83.

Among Asian bourses

Nikkei falls for third day

The Japan share market declined for third straight session, dragged down by yen appreciation against greenback and on caution ahead of policy decisions from the Federal Reserve and Bank of Japan. 21 out of 33 TSE industry sectors were down, with Land Transportation, Electric Appliances, Iron & Steel, Pharmaceutical, Air Transportation, and Real Estate stocks being major losers. The 225-issue Nikkei average declined 62.79 points, or 0.36%, to close at 17290.49. The Topix index of all first-section issues ended down 7.39 points, or 0.53%, at 1384.30.

Murata Manufacturing, Alps Electric and Nitto Denko, all Apple-related issues, met with selling after the U.S. company reported Tuesday the first decline in quarterly revenue in 13 years.

Canon tumbled 5.3% a day after the camera maker revised down its earnings estimates for the year through December, reflecting sluggish sales of laser printers and the higher yen.

On the other hand, IHI surged 4.33% on a news report that the heavy machinery maker plans to establish a new plant for the aircraft business for the first time in 20 years. Kawasaki Heavy recouped earlier losses and closed higher after announcing stronger-than-expected earnings for the fiscal year through March.

Australia Market falls 0.63%

Australian share market ended down after erasing early gains, due to surprisingly weak inflation data. The Consumer Price Index (CPI) fell 0.2% in the March quarter 2016, according to latest figures from the Australian Bureau of Statistics (ABS). This followed a rise of 0.4% in the December quarter 2015. Most industry sectors were down, with banks and financial and property trusts stocks being major losers. At close of trade, the benchmark S&P/ASX 200 declined 32.90 points, or 0.63%, to 5187.70. The broader All Ordinaries dropped 32.70 points, or 0.62%, to 5250.90.

The banks were hammered on concerns about a blowout in bad debts and views the banks margins may come under pressure if they have to pass on any rate cut in full to blunt a political backlash. ANZ Banking Group declined 1.5% to A$23.88, National Australia Bank 2.2% to A$26.90, Westpac Banking Corp 2% to A$30.94, and Commonwealth Bank 2.5% to A$73.76.

Shares of materials and resources were also lower, with BHP Billiton down 0.6% to A$19.65, Rio Tinto down 2.1% to A$48.42 and Fortescue Metals down 2.9% to A$3.06.

China Market closes down

Mainland China stock market finished lower, on concerns about a government crackdown on speculation in commodities markets, with shares of consumer-discretionary and material companies led declines. The benchmark Shanghai Composite Index added 18 points, or 0.6%, to 2964.70. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, de-grew 13.24 points, or 0.42%, to 3165.92.

Consumer-discretionary and energy shares suffered the steepest losses among 10 industry groups. Hisense Electric Co. plunged 5.4%, while Shanxi Luan Environmental Energy Development Co. led declines for coal producers with a 5.2% drop.

Material shares extended losses after commodity exchanges intensified efforts to curb speculation in futures contracts. The nations commodity exchanges stepped up efforts to curb speculation in trading in everything from steel to iron ore and coking coal after prices soared amid a credit-fueled binge. The Dalian Commodity Exchange will raise trading charges of coking coal and coke to 0.036% from 0.018% from April 27, according to a statement on the exchanges website. Jiangxi Copper Co. slid 1.3% after the Dalian exchange also said it will raise trading charges of iron ore contracts. Iron ore futures plunged 4.1%, extending their decline in the past four days to 8.9%. Steel reinforcement bar lost 3.2% and coking coal slid 4.6% as prices responded to the exchange moves.

Hong Kong Stocks drop 0.2%

The Hong Kong stock market declined for second straight session on Tuesday, 26 April 2016, amid increased nervousness in the markets over the policy outcome from the U.S. Federal Reserve, the Bank of Japan (BOJ) and the Reserve Bank of New Zealand this week. The benchmark Hang Seng Index dropped 45.67 points, or 0.21%, to 21361.60 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 21.36 points, or 0.24%, to 9037.48 points. Turnover reduced to HK$54.9 billion from HK$62.8 billion on Tuesday.

StanChart (02888) soared 6% to HK$62.7. The lender announced its 1Q results, with pre-tax earnings falling 59% year-on-year, but it turned to black quarter-on-quarter. HSBC (00005) put on 0.8% to HK$52.65.

BOCHK (02388) slid 3% to HK$23.8 as its 1Q operating profit decreased 8% to HK$6.64 billion. BOC (03988) was unchanged at HK$3.2. It reported 1Q earnings grew 2% to RMB46.6 billion.

Nifty attains 25-week closing high

A divergent trend for various index constituents resulted in small gains for the two key benchmark indices. The barometer index, the S&P BSE Sensex, rose 56.82 points or 0.22% to settle at 26,064.12. The Nifty 50 index rose 17.25 points or 0.22% to settle at 7,979.90. The two key benchmark indices edged higher for the second day in a row.

Telecom major Bharti Airtel gained ahead of its Q4 results. IT stocks rose after global credit rating agency Moodys Investors Service said in a sector report that it expects the Indian IT services sector to maintain global market share gains despite headwinds. HCL Technologies dropped 1.58% ahead of its quarterly results. Shares of oil exploration and production companies rose as global crude oil prices surged.

Axis Bank edged lower after the banks management said in a conference call that it expects bad loans to rise and credit costs to be sharply higher in the current financial year. Yes Bank edge higher in volatile trade after the private sector bank reported strong Q4 results.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was down 0.7% to 6750.40. South Koreas KOSPI index shed 0.2% to 2015.40. Taiwans Taiex index sank 0.2% to 8563.05. Malaysias KLCI shed 0.01% to 1692.34. Indonesias Jakarta Composite index rose 0.7% to 4845.66. Singapores Straits Times index eased 0.7% to 2874.72.

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Hong Kong Stocks down ahead of key central banks decision
Apr 27,2016

The Hong Kong stock market declined for second straight session on Tuesday, 26 April 2016, amid increased nervousness in the markets over the policy outcome from the U.S. Federal Reserve, the Bank of Japan (BOJ) and the Reserve Bank of New Zealand this week. The benchmark Hang Seng Index dropped 45.67 points, or 0.21%, to 21361.60 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 21.36 points, or 0.24%, to 9037.48 points. Turnover reduced to HK$54.9 billion from HK$62.8 billion on Tuesday.

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China Market closes down
Apr 27,2016

Mainland China stock market finished lower on Wednesday, 27 April 2016, with shares of consumer-discretionary and material companies led declines. The benchmark Shanghai Composite Index added 18 points, or 0.6%, to 2964.70. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, de-grew 13.24 points, or 0.42%, to 3165.92.

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