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Hong Kong Market slips 1.45% as US rate hike fears revive
May 18,2016

The Hong Kong stock market finished steeply lower on Wednesday, 18 May 2016, as risk aversion selloff triggered on tracking weak lead from Wall Street overnight after strong U.S. consumer prices and other economic data added to the case for a rate increase soon. Sentiments were also hammered on tracking selloff in Mainland China A-share market and other regional bourses. The benchmark Hang Seng Index dropped 292.39 points, or 1.45%, to 219826.41 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, fell 124.77 points, or 1.48%, to 8301.01. Turnover reduced to HK$58.7 billion from HK$59.4 billion on Tuesday.

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China Stocks fall for second day in row
May 18,2016

Mainland China stock market declined for second straight session on Wednesday, 18 May 2016, amid worries that Beijing might taper monetary stimulus as bad debts mount. Meanwhile, risk confidence was further hit by overnight weakness on the Wall Street after strong U.S. consumer prices and other economic data added to the case for a Federal Reserve interest-rate increase soon. Total 9 out of 10 SSE sectors declined, with IT, telecom, material, energy, and consumer goods stocks being major losers. The benchmark Shanghai Composite Index dropped 36.17 points, or 1.27%, to 2807.51. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 17.98 points, or 0.58%, to 3068.04.

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China Stocks fall on stimulus worries
May 17,2016

Mainland China stock market finished down on Tuesday, 17 May 2016, amid worries that Beijing might taper monetary stimulus after Chinese President Xi Jinping pledged to push ahead with the structural reforms and reduce the countrys debt levels. But losses were limited amid further signs capital outflows are easing. Most sectors fell, with transportation shares leading the decline. The benchmark Shanghai Composite Index declined 7.18 points, or 0.25%, to 2843.68. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 9.29 points, or 0.3%, to 3086.02.

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Hong Kong Market rises 1.18%
May 17,2016

The Hong Kong stock market finished sharply higher on Tuesday, 17 May 2016, as risk appetite buying buoyed by tracking positive lead from Wall Street overnight and rally in the other Asian bourses. Meanwhile, buying momentum spirited on hopes of the upcoming launch of the Shenzhen-HK Connect after Chairman of the National Peoples Congress Zhang Dejiang visited HK. Most of the sectoral indices advanced, with energy-related shares leading sectoral rally on gains in crude oil prices. The benchmark Hang Seng Index surged 234.85 points, or 1.18%, to 20118.80 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 113.17 points, or 1.36%, to 8425.78. Turnover rose to HK$59.4 billion from HK$56.4 billion on Monday.

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Nikkei rises 1.13%
May 17,2016

The Japan share market ended higher on Tuesday, 17 May 2016, thanks to overnight Wall Street gains and a weaker yen. However, market gains were limited as many investors were taking a wait-and-see approach before Japan releases first-quarter economic growth data on Wednesday. The 225-issue Nikkei Stock Average ended up 186.40 points, or 1.13%, to 16652.80. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 14.20 points, or 1.07%, higher at 1335.85.

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Asia Pacific Market: Stocks likely shine on positive global lead
May 17,2016

Asia Pacific share market expected to begin trade with firm footing on Tuesday, 17 May 2016, on tracking positive lead from Wall Street overnight. Meanwhile, positive finish of crude oil and base metal prices overnight, Japan currency intervention talks, and hopes of another rate cut in Australia will also flavour risk appetite buying.

Wall Street rallied sharply on Monday, juiced by a jump in Apple shares and gains from energy stocks that were backed by stronger oil prices. The S&P 500 rose 20.05 points, or 1%, to 2,066.66. The Dow Jones industrial average rose 175.39 points, or 1%, to 17,710.71. The Nasdaq composite index gained 57.78 points, or 1.2%, to 4,775.46

Oil prices hit six-month highs on Monday on global supply outages and long-time bear Goldman Sachs taking a more positive view on the market, although a stockpile build at the U.S. storage hub for crude futures limited gains. Brent crude futures ttraded flat at $48.96 per barrel in early Asia, after having risen 2.4% on Monday, when it rallied to $49.47 earlier, its highest since early November, in a test towards $50. U.S. crudes West Texas Intermediate (WTI) futures changed hands at $47.77, maintaining their 3.3% gains on Monday.

Precious and industrial metals prices closed higher. Gold gained $1.50 to $1,274.20 an ounce, silver rose 2 cents to $17.15 an ounce and copper added 2 cents to $2.09 a pound.

U.S. interest rate policy likely be key focus this week. In addition to planned remarks from several Federal Reserve officials, the Fed is scheduled on Wednesday to release minutes of its last meeting. Investors will be looking for clues as to whether the central bank is likely to raise rates from low levels that have helped push up stocks and other assets since the financial crisis. A report on Friday showed retail sales rose a solid 3% last month compared with the previous year, suggesting the Fed may be more likely to raise rates.

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Asia Pacific Market: Stocks likely trade mixed on disappointing Chinese data, weak US lead
May 16,2016

Asia Pacific share market expected to commence trading with back foot on Monday, 16 May 2016, due to weak finish of Wall Street on Friday and weaker than expected Chinese economic data.

Chinas investment, factory output and retail sales all grew more slowly than expected in April, adding to doubts about whether the worlds second-largest economy is stabilizing. Growth in factory output cooled to 6% in April, the National Bureau of Statistics (NBS) said Saturday, disappointing analysts who expected it to rise 6.5% on an annual basis after an increase of 6.8% the prior month. Fixed-asset investment growth eased to 10.5% year on year in the January-April period, missing market expectations of 10.9%, and down from the first quarters 10.7%. Fixed investment by private firms continued to slow, indicating private businesses remain skeptical of economic prospects. Investment by private firms rose 5.2% year on year in January-April, down from 5.7% growth in the first quarter.

Retail sales growth in April, which captures both private and government purchasing, rose 10.1% on an annual basis, slower than expected. Analysts had forecast sales would rise 10.5% on an annual basis, the same%age increase as reported for March.

It was upbeat March data that sparked hopes Chinas economy was picking up in a wake of a more than year-long blitz of fiscal, monetary and administrative stimulus measures. A recovering property market has also boosted demand for raw materials, giving a boost to long ailing heavy industries such as steel mills. But much of the data on April, which included weaker-than-expected exports and imports, plus soft factory activity surveys, continued to underline lingering weakness in the broader economy.

U.S stocks tumbled on Friday, 13 May 2016. The S&P 500 fell 17.62 points, or 0.9%, to close at 2,046.49, its lowest closing level since April 11. The Dow Jones Industrial Average fell 185.18 points, or 1.1%, to finish at 17,535.32. The Nasdaq Composite declined 19.66 points, or 0.4%, to close at 4,717.68.

The retail-sales data showed that sales at U.S. retailers jumped 1.3% in April to mark the biggest gain in a year. Meanwhile, consumer sentiment surged in early May as Americans views of the future brightened. And U.S. producer prices rose 0.2% in April after two straight declines, but inflation at the wholesale level remained largely absent in the broader economy.

Investors were jittery thinking that Fridays data could bolster the Federal Reserves case for raising interest rates twice this year. Indeed, on Friday, comments from Fed Chairwoman Janet Yellen were on the cautious side. In a letter to Rep. Brad Sherman (D., Calif.) released by his office on Thursday, she said the central bank wouldnt rule out using negative interest rates, but such a move would require careful consideration.

This weeks crop of economic data manages to strike a pleasing balance between volume and importance. US data includes Fed minutes and CPI numbers. UK data also comes into focus, including CPI numbers and employment figures.

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Nikkei rises on BOJ stimulus speculations
May 12,2016

The Japan share market advanced for fourth straight session on Thursday, 12 May 2016, on the back of yen depreciation against the greenback after speculation began circulating that the central bank could further ease monetary policy as soon as next month. Total 23 out of 33 TSE sectors advanced, with gains were led by textiles and apparels, and iron and steel as well as mining issues. The 225-issue Nikkei Stock Average ended up 67.33 points, or 0.41%, to 16646.34. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 2.97 points, or 0.22%, higher at 1337.27.

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China Market closes flat
May 12,2016

Mainland China stock market finished the session marginally down on Thursday, 12 May 2016, on caution ahead of the release of fresh economic indicators out of China this week. But, losses were minimal, thanks to Beijings $724 billion transport investment plan which bolstered infrastructure shares and eased worries about a shift in economic policies. The benchmark Shanghai Composite Index declined 1.18 points, or 0.04%, to 2835.86. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, added 7.33 points, or 0.24%, to 3090.14.

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Hong Kong Market falls 0.7%
May 12,2016

The Hong Kong stock market finished down in volatile trade on Thursday, 12 May 2016, on tracking weak lead from Wall Street overnight and concerns about the worlds second largest economy. The benchmark Hang Seng Index declined 139.83 points, or 0.7%, to 19915.46 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 29.95 points, or 0.35%, to 8413.72. Turnover reduced to HK$53.9 billion from HK$59.3 billion on Wednesday.

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Asia Pacific Market: Stocks down on weak offshore lead
May 12,2016

Asia Pacific share market closed mostly down on Thursday, 12 May 2016, on tracking soft lead from Wall Street overnight after oil began to pull back after climbing to a new 2016 high. Pessimism on trading floors followed weak earnings in the US and Japan.

Among Asian bourses

Australia Market ends softer

Australian share market ended softer on tracking a sell-off on Wall Street overnight, with the major financials, property trusts and realty stocks being major losers on concerns about earnings prospects, whilst small lift in commodity prices helped to buoy up miners and energy stocks. At close of trade, the benchmark S&P/ASX 200 index declined 13 points, or 0.24%, to 5359.30. The broader All Ordinaries fell 11.40 points, or 0.21%, to 5423.40. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 555 to 508 and 305 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 1.57% to 17.948.

The banks and financial stocks declined, with Westpac Banking Corp up 0.6% to A$31.30, National Australia Bank up 1.7% to A$28.92, Commonwealth Bank up 2.9% to A$78, and ANZ Banking Group up 1.3% to A$24.70.

Metal mining stocks advanced on the back of gains in commodity prices. Spot iron ore firmed 0.5 per cent to $US55.57 a tonne yesterday and Dalian iron ore futures were down one per cent today. Brent crude oil jumped 3.5 per cent following a bigger draw-down in US oil inventories thank forecast. BHP Billiton rose 0.2% to A$18.59 while Rio Tinto fell 0.2% to A$45.90. Fortescue Metals added 0.7% to A$2.93. Woodside Petroleum added 2.4% to A$27.09, Origin Energy 5.5% to A$5.36, and Santos 5.4% to A$4.28.

Department store operator Myer jumped 7.1% to A$1.205 after it reconfirmed its full-year guidance and reported a 2.1 per cent rise in third-quarter sales to A$675.5 million.

Gaming machine supplier Aristocrat Leisure rose 10.4% to A$11.58 after upgrading its profit guidance.

New Zealand stocks fall

Equities on the New Zealand share market joined a slide in equity markets that started on Wall Street and continued into Asia. Westpac Banking Corp, Air New Zealand and Xero dropping while Sky Network Television gained. Markets across Asia mostly traded lower this afternoon, following Wall Streets negative lead dragged down by disappointing results from retailers Disney and Macys. By the provisional closing, the S&P/NZX50 Index dropped 21.17 points, or 0.3 percent, to 6,923.17. Within the index, 22 stocks rose, 19 fell and nine were unchanged. Turnover was $185.6 million.

Westpac Banking Corp fell 4.8 percent or $1.64 to $32.36. It gave up rights to a 94 cent dividend today.

Air New Zealand dropped 4.2 percent to $1.82. The national carrier has fallen 19.8 percent this year, having reached highs in January when oil was at record lows but has dropped back since then on concern it faces increased competition on key routes.

A2 Milk Co shed 4.2 percent to $2.28, while Meridian Energy declined 2.9 percent to $2.66.

Xero fell 1.7 percent to $15.42. The cloud-based accounting software firm said it has sufficient cash reserves to reach breakeven without having to raise more capital, after posting a 67 percent jump in full-year operating revenue and a wider net loss. Its net loss was $82.5 million in the 12 months ended March 31, from a loss of $69.5 million a year earlier.

Nuplex Industries rose 0.8 percent to $5.33. The company, whose independent directors are backing a $1.05 billion takeover offer from Allnex Belguim SA which values Nuplex at $5.55 a share, raised its 2016 earnings guidance, reflecting a stronger performance in the EMEA (Europe, the Middle East and Africa) and the Americas in March and April.

Nikkei rises on BOJ stimulus speculations

The Japan share market advanced for fourth straight session on the back of yen depreciation against the greenback after speculation began circulating that the central bank could further ease monetary policy as soon as next month. Total 23 out of 33 TSE sectors advanced, with gains were led by textiles and apparels, and iron and steel as well as mining issues. The 225-issue Nikkei Stock Average ended up 67.33 points, or 0.41%, to 16646.34. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 2.97 points, or 0.22%, higher at 1337.27.

The weaker yen boosted up export-oriented names. A weaker yen is usually a positive for exporters as it improves their overseas profit numbers when converted to local currency. Among exporters, Soy sauce maker Kikkoman Corp, which gets 47% of revenue from North America, added 0.4% to 3695 yen. Subaru automaker Fuji Heavy Industries, which relies on North America for 60% of sales, advanced 3.7% to 3881 yen. Sony Corp rose 4.4% to 2850 yen and Mazda Motor Corp grew 1.4% to 1777 yen. Alps Electric Co. jumped 1.3% to 1918 yen and TDK Corp 1.9% to 6020 yen. China-linked Factory robotics firm Fanuc Corp was up 0.4% to 16275 yen. Market heavyweight Fast Retailing, operator of the Uniqlo chain, was up 0.9% at 29020 yen.

Shares of Nissan Motor were down 1.4% to 988.10 yen as investors weighed its proposal to buy 34% of Mitsubishi Motors for 237.4 billion yen. The deal would make Nissan the largest shareholder of Mitsubishi Motors. The Mitsubishi Motors shares grew 16.2% to 575 yen.

China Market closes flat

Mainland China stock market finished the session marginally down on caution ahead of the release of fresh economic indicators out of China this week. But, losses were minimal, thanks to Beijings $724 billion transport investment plan which bolstered infrastructure shares and eased worries about a shift in economic policies. The benchmark Shanghai Composite Index declined 1.18 points, or 0.04%, to 2835.86. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, added 7.33 points, or 0.24%, to 3090.14.

The confidence of investors had been hurt by a Peoples Daily article on Monday that hinted Beijing will no longer use rapid credit expansion and loose monetary policies to stimulate growth. The Peoples Daily, the communist partys mouthpiece, ran a front page article this week saying that n++Chinas economy is unlikely to achieve a V-shape rebound, but instead an L-shape growth.n++ But they drew solace from a massive investment plan announced late on Wednesday. China will invest around 4.7 trillion yuan ($724 billion) in transport infrastructure projects over the next three years, the countrys transport ministry said.

Investors were concerned about increased regulatory scrutiny of the initial-public-offering process. The China Securities Regulatory Commission said it would change delisting rules to better protect investors, according to the official Xinhua News Agency.

Shares of industrial companies declined, with Spring Airlines Co. down 3.9% and Shanghai Waigaoqiao Free Trade Zone Group Co. down 3.4%.

Shares of utility companies advanced, with Sichuan Chuantou Energy rallying 4% and Shanghai Electric Power Co. climbing 3.8%.

Hong Kong Market falls 0.7%

The Hong Kong stock market finished down in volatile trade on tracking weak lead from Wall Street overnight and concerns about the worlds second largest economy. The benchmark Hang Seng Index declined 139.83 points, or 0.7%, to 19915.46 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 29.95 points, or 0.35%, to 8413.72. Turnover reduced to HK$53.9 billion from HK$59.3 billion on Wednesday.

Shares of online game developer Boyaa Interactive International Ltd slumped to a record low after the company said its chairman is being investigated by judicial authorities in China.

Shares of Macau gambling stocks fell with MGM China leading the slide after the government of Macau said it would tighten regulations for junket operators.

Power Assets (00006) ended down 3% to K$74.9 after the company announced it decided not to declare special interim dividend.

Sensex, Nifty attain highest closing level in more than two weeks

The passage of the Insolvency and Bankruptcy Code, 2016 in Rajya Sabha and gains in European stocks triggered upmove on the domestic bourses. The barometer index, the S&P BSE Sensex, gained 193.20 points or 0.75% to settle at 25,790.22. The Nifty rose 51.55 points or 0.66% to settle at 7,900.40. The Sensex and the Nifty, both hit their highest closing level in more than two weeks.

Stocks of public sector banks edged higher after the Rajya Sabha passed the Insolvency and Bankruptcy Code, 2016 yesterday, 11 May 2016. Shares of oil exploration and production (E&P) firms edged higher after sharp surge in crude oil prices. Pharma major Dr Reddys Laboratories (DRL) rose after announcing Q4 March 2016 results. Hindalco Industries extended previous trading sessions gains triggered by its US subsidiary Novelis Inc reporting strong Q4 results. Asian Paints extended previous trading sessions gains triggered by the company declaring good Q4 results.

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Asia Pacific Market: Stocks mostly up; Nikkei leads
May 10,2016

Asia Pacific share market advanced after recouping early losses on Tuesday, 10 May 2016, with Tokyo bourses leading the regional market rally after official warning of government intervention against a sharp rise in the yen.

The Japanese currency weakened against the greenback after Japanese Finance Minister Taro Aso statement on Monday that the government is ready to intervene in the currency market if the yen continues to rise or falls rapidly against other currencies. The minister reiterated those views again on Tuesday, saying it would be n++naturaln++ for the government to intervene if the yen were to gain abruptly against the U.S. dollar. A strong local currency puts pressure on the earnings of exporters because it can make their goods more expensive overseas.

Oil prices advanced in the afternoon during Asian hours on Tuesday, after tumbling nearly 4 percent on Monday in the U.S. session. Global benchmark Brent retraced losses to trade up 0.85 percent at $44 a barrel, while U.S. crude futures were up 0.39 percent at $43.61.

Among Asian bourses

Australia Market rises as investors turn on realty, financials

Australian share market ended higher after recouping initial losses, as gains in property trusts, financial, realty and telecom services sectors were more than offset by losses elsewhere. At close of trade, the benchmark S&P/ASX 200 advanced 22.10 points, or 0.42%, to 5342.80. The broader All Ordinaries grew 16.10 points, or 0.3%, to 5403.90. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 595 to 454 and 346 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 3.16% to 18.306.

The banks and financial stocks extended gains, with Westpac Banking Corp up 0.6% to A$31.30, National Australia Bank up 1.7% to A$28.92, Commonwealth Bank up 2.9% to A$78, and ANZ Banking Group up 1.3% to A$24.70.

Metal mining stocks extended losses for second straight session, hurt by weaker nickel and iron ore prices after Sundays trade data print in China pointed to weak demand in the worlds second-biggest economy. BHP Billiton declined 0.6% to A$17.83 and Rio Tinto was down 1.3% to A$45.40. Fortescue Metals fell 0.2% to A$2.85. Sims Metal Management fell 10.11% to A$8.450. Bluescope Steel declined 7.7% to A$5.850.

Incitec Pivot rose 9.79% to A$3.140 at the close. The fertiliser and explosives maker posted a 79 per cent fall in first-half profit.

Nikkei extends gain as yen weakens

The Japan share market advanced for second straight session on Tuesday, 10 May 2016, as investors continued hunting for recently battered stocks, thanks to yen depreciation against the greenback. The Japanese currency weakened against the greenback after Japanese Finance Minister Taro Aso statement on Monday that the government is ready to intervene in the currency market if the yen continues to rise or falls rapidly against other currencies. The minister reiterated those views again on Tuesday, saying that the yens rise was one-sided, further unwinding the currencys strength. Total 31 out of 33 TSE sectors advanced, led by financial stocks, insurance, and glass and ceramic product issues. The 225-issue Nikkei Stock Average ended up 349.16 points, or 2.15%, from Monday at 16,565.19. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 28.24 points, or 2.16%, higher at 1,334.90. On the First Section, advancing issues outnumbered declining ones 1,663 to 240, while 48 ended the day unchanged.

The weaker yen boosted up export-oriented names. A weaker yen is usually a positive for exporters as it improves their overseas profit numbers when converted to local currency. Among exporters, Mazda Motor rose 62.50 yen, or 3.7%, to 1,750.50 yen and Sony gained 78.00 yen, or 3.0%, to 2,681.50 yen.

Hoya gained 114 yen, or 2.9%, to 4,041 yen after the manufacturer of information technology-related glass products reported on Monday a record group net profit for fiscal 2015, citing strong overseas demand in its eyewear lens sector.

Asics climbed 229 yen, or 10.7%, to 2,362 yen after the sporting goods manufacturer reported on Monday a year-on-year increase in its consolidated net profit for the three months through March on brisk sales of running shoes overseas.

Gas equipment maker Rinnai increased 260 yen, or 2.7%, to 9,930 yen after it reported on Tuesday a year-on-year growth in its group net profit for the year ended March helped by strong water heater sales both in Japan and overseas.

China Market closes flat

Mainland China stock market finished the session virtually flat, after fluctuating in and out between boundary line, as data showed consumer inflation unchanged for the third consecutive month but while producer deflation showed further signs of moderating. Total 5 out of10 SSE sectors advanced, with shares of consumer staples and industrial issues being major gainers, while IT issue being major losers. The benchmark Shanghai Composite Index added 0.48 point, or 0.02%, to 2832.59. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, added 3.49 points, or 0.11%, to 3069.11.

The latest data on Chinas inflation refueled the debate over whether the central bank now has the room to turn more cautious about future monetary policy easing. Consumer prices rose slightly less than expected in April, while producer deflation showed further signs of moderating thanks to a bounce in commodity prices that is now rapidly fizzling.

Shares of consumer companies advanced, with automakers paced gains after data from the China Passenger Car Association showed nations passenger-vehicle sales rose for the eighth time in nine months. Guangzhou Automobile Group Co. climbed 4.2%, while Chongqing Changan Automobile Co. advanced 1.9%.

Shares of shipping companies rallied, with China Cosco Holdings Co. jumping 7.4% and China Shipping Container Lines Co. soaring by the 10% daily limit. In December, China reshaped its shipping industry by announcing a plan to reorganize the two major groups with combined revenue of more than $40 billion.

Hong Kong Market rises 0.43%

The Hong Kong stock market finished higher in volatile trade. The benchmark index opened down 194 points at 19,962, which marked the intra-day low. It then gradually recovered its losses as Chinas April PPI contraction eased. . The benchmark Hang Seng Index gained 85.87 points, or 0.43%, to 20242.68 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 35.44 points, or 0.42%, to 8486.16. Turnover increased to HK$59.8 billion from HK$54.6 billion on Monday.

Cheung Kong group companies led the rally in the city bourses. Power Assets (00006) may consider whether to declare a special dividend on Thursday. It gained 1.4% to HK$77.55. CKH Holdings (00001) added 1.4% to HK$93.85 even though market talks of EU may reject its proposed acquisition of O2 this week. CKI Holdings (01038) rose 1.3% to HK$75.45. But CK Property (01113) fell 1% to HK$48.1.

Public utilities counters also outperformed. CLP (00002) advanced 1.2% to HK$73.7. HK and China Gas (00003) edged up 0.6% to HK$14.62.

Lenovo (00992) plunged 8.3% to HK$5.23. HSBC Research chopped its target price for the PC maker, while JP Morgan also lowered its 2017 and 2018 earnings forecasts.

Cathay Pacific (00293) jumped 1.5% to HK$12.28 on talks that the local carrier intends to acquire a 25.9% stake in Virgin Australia. HKEx (00388) inched up 0.6% to HK$185.8 ahead of earnings report tomorrow.

Sensex gains for the second straight day

Gains in global stocks aided small upmove for key benchmark indices. The barometer index, the S&P BSE Sensex, rose 83.67 points or 0.33% to settle at 25,772.53. The Nifty gained 21.75 points or 0.28% to settle at 7,887.80.

Shares of FMCG giant Hindustan Unilever (HUL) edged higher after the companys Chief Financial Officer P.B. Balaji was quoted as saying after the announcement of the companys Q4 March 2016 results yesterday, 9 May 2016, that he expects a sequential improvement in the companys sales volume growth in Q1 June 2016. Hindalco Industries fell on worries that increase in Chinese output could further weigh on global aluminium prices. JSW Steel edged lower on reports that the company is among seven bidders shortlisted for Tata Steels UK assets. Shares of microfinance firm Ujjivan Financial Services made a modest debut on the bourses.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was up 0.4% to 6909.40. South Koreas KOSPI index added 0.8% to 1982.50. Taiwans Taiex index rose 0.3% to 8156.29. Malaysias KLCI grew 0.2% to 1635.84. Indonesias Jakarta Composite index gained 0.3% to 4763.12. Singapores Straits Times index fell 0.9% to 2741.15.

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Australia Market rises as investors turn on realty, financials
May 10,2016

Australian share market ended higher after recouping initial losses on Tuesday, 10 May 2016, as gains in property trusts, financial, realty and telecom services sectors were more than offset by losses elsewhere. At close of trade, the benchmark S&P/ASX 200 advanced 22.10 points, or 0.42%, to 5342.80. The broader All Ordinaries grew 16.10 points, or 0.3%, to 5403.90. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 595 to 454 and 346 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 3.16% to 18.306.

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Nikkei extends gain as yen weakens
May 10,2016

The Japan share market advanced for second straight session on Tuesday, 10 May 2016, as investors continued hunting for recently battered stocks, thanks to yen depreciation against the greenback. The Japanese currency weakened against the greenback after Japanese Finance Minister Taro Aso statement on Monday that the government is ready to intervene in the currency market if the yen continues to rise or falls rapidly against other currencies. The minister reiterated those views again on Tuesday, saying that the yens rise was one-sided, further unwinding the currencys strength. Total 31 out of 33 TSE sectors advanced, led by financial stocks, insurance, and glass and ceramic product issues. The 225-issue Nikkei Stock Average ended up 349.16 points, or 2.15%, from Monday at 16,565.19. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 28.24 points, or 2.16%, higher at 1,334.90. On the First Section, advancing issues outnumbered declining ones 1,663 to 240, while 48 ended the day unchanged.

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Hong Kong Market rises 0.43%
May 10,2016

The Hong Kong stock market finished higher in volatile trade on Tuesday, 10 May 2016. The benchmark index opened down 194 points at 19,962, which marked the intra-day low. It then gradually recovered its losses as Chinas April PPI contraction eased. . The benchmark Hang Seng Index gained 85.87 points, or 0.43%, to 20242.68 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 35.44 points, or 0.42%, to 8486.16. Turnover increased to HK$59.8 billion from HK$54.6 billion on Monday.

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