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Australia Market ends down
Mar 10,2016

Australian share market ended softer on Thursday, 10 March 2016, as declines in consumer staples and healthcare stocks offset energy sector gain. At the close, the benchmark S&P/ASX200 index fell 7.10 points, or 0.14%, at 5150.10, while the broader All Ordinaries index shed 4.80 points, or 0.09%, to 5210.90.

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Nikkei rebound on positive offshore lead, yen depreciation
Mar 10,2016

Japan share market ended higher for the first time in four consecutive sessions on Thursday, 10 March 2016, helped by strong lead from offshore market overnight and yen descent particularly against the dollar. Notable gainers comprised mining, pulp and paper, and textile-linked issues. The 225-issue Nikkei Stock Average climbed 210.15 points, or 1.26%, to end at 16,852.35. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 19.84 points, or 1.49%, to close at 1,352.17.

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China Market slides 2%
Mar 10,2016

Mainland China stock market ended steep lower on Thursday, 10 March 2016, after faster than forecast rise in consumer inflation data limits room for monetary easing. The benchmark Shanghai Composite Index slid 2.02%, or 57.83 points, to 2804.73. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 58.76 points, or 1.91%, to 3013.15.

The data from the National Bureau of Statistics (NBS) showed that Chinas consumer price index (CPI), a main gauge of inflation, grew 2.3% in February from one year earlier, up from Januarys 1.8%. CPI grew 1.6% month on month in February 2016. Chinas producer price index (PPI), which measures wholesale inflation, dropped for the 48th consecutive month to 4.9% year on year in February, narrowing from the 5.3% drop in January and 5.9% in December. Month on month, producer prices in February edged down 0.3%.

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Hong Kong Stocks extend losses
Mar 10,2016

The Hong Kong stock market ended down after reversing initial gain on Thursday, 10 March 2016, on caution ahead of the results of the European Central Banks monetary policy meeting later today. Risk sentiments were also soft on concerns of Chinese government support for the worlds second-largest equity market. The benchmark Hang Seng Index declined 11.84 points, or 0.06%, to 19984.42 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, dropped 21.34 points, or 0.25%, to 8420.14 points. Turnover reduced to HK$54.2 billion from HK$56.9 billion on Wednesday.

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Australia Market ends at fresh two-month high
Mar 09,2016

Australian share market advanced to fresh two-month high on Wednesday, 09 March 2016, as gains in the banking stocks were more than offset by losses in energy and materials stocks. At the close, the benchmark S&P/ASX200 index rose 49.20 points, or 0.96%, at 5157.20, while the broader All Ordinaries index added 46.20 points, or 0.89%, to 5215.70.

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Nikkei drops for third day
Mar 09,2016

Japan share market declined for third consecutive session on Wednesday, 09 March 2016, as risk sentiments pressured by weak lead from Wall Street overnight and the yens ascent particularly against the dollar. However losses were limited ahead of the results of the European Central Banks board meeting on Thursday. Every industry category on the main section except fishery, agriculture and forestry, and information and communication issues lost ground, led by marine transport, nonferrous metal, and iron and steel issues. The 225-issue Nikkei Stock Average ended down 140.95 points, or 0.84%, from Tuesday at 16642.20. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 15.39 points, or 1.14%, lower at 1332.33.

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China Market ends down
Mar 09,2016

Mainland China stock market declined for the first time in seven straight sessions on Wednesday, 09 March 2016, on fresh concerns over Chinas economy after weaker-than-expected trade data. The benchmark Shanghai Composite Index slid 1.34%, or 38.83 points, to 2,862.56, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, dropped 2.12%, or 37.10 points, to 1,713.44. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 35.76 points, or 1.15%, to 3071.91.

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U.S. stocks snap five-day winning streak
Mar 09,2016

U.S. stocks snapped their five-day winning streak to close lower on Tuesday, 08 March 2016 as supply woes weighed on oil prices and worries about a prolonged slowdown in China resurfaced. Equity indices started their day beneath their flat lines as a weaker-than-expected reading of Chinas February trade data weighed on the market. Stocks climbed off their lows for the bulk of the trading day, but the rally in equities lost steam shortly.

The Dow Jones Industrial Average slid 109.85 points, or 0.6%, to finish at 16,964.10 and the Nasdaq Composite lost 59.43 points, or 1.3%, to close at 4,648.82. The S&P 500 fell 22.50 points, or 1.1%, to close at 1,979.26, led by a 4.1% drop in the energy sector.

Crude-oil prices tumbled on Tuesday as traders bet that weekly data will reveal a fourth straight climb in U.S. crude inventories and as the market resumed its doubts over the potential for an output freeze. The drop in oil weighed on the shares of energy companies. Chevron Corp. and Exxon Mobil were among the biggest decliners on the Dow.

Early pressure on global stocks came after Chinese trade data showed exports tumbled for an eighth straight month, in another sign a slowing global economy is undercutting growth in the worlds second largest economy. Data showed exports fell 25.4% in February, compared with the 15% expected, while imports were down 13.8%.

Among economic data expected for the day, The NFIB small business index for February fell 1 point to 92.9, with none of the 10 components posting a gain confirming that the small business sector is not headed up with any strength.

After major stocks under focus, JetBlue Airways closed down 9.1% after the airliner projected a first-quarter unit revenue decline. Shares of Apple finished 0.8% weaker, after the Supreme Court declined Apples request for a review of an e-books antitrust case, leaving the iPad maker facing a payment of $400 million to e-book consumers.

European stock markets ended lower almost across the board, with commodity firms bearing the brunt of the selloff.

Bullion prices made a steady finish on Tuesday, 08 March 2016 at Comex. Gold prices ended the U.S. day session near unchanged mark and gave back moderate early gains on Tuesday. The key n++outside marketsn++ on Tuesday saw the U.S. dollar index slightly higher and crude oil prices solidly lower, with Nymex April futures hovering just below $37.00 a barrel.

April Comex gold ended down 0.1% to $1263.20/oz, while May silver fell 1.5% to $15.40/oz.

The focus of traders and investors this week is the Thursday meeting of the European Central Bank. Many believe the ECB this week will announce further monetary policy stimulus measures by pushing interest rates further into negative territory, in an effort to jumpstart the moribund Euro zone economy.

Crude oil prices settled lower on Tuesday, 08 March 2016, a day after hitting their highest settlements of the year. Growing doubts over the potential for an output freeze, as traders bet that data will reveal a fourth-straight weekly climb in U.S. crude inventories, has placed crude prices under pressure. A bearish note from Goldman Sachs, highlighting the continuing glut of supplies and casting doubt on the sustainability of a recent run-up in commodities, also served as a headwind.

April West Texas Intermediate crude settled at $36.50 a barrel, down $1.40, or 3.7%, on the New York Mercantile Exchange after tapping highs above $38 earlier. May Brent crude on Londons ICE Futures exchange shed $1.19, or 2.9%, to $39.65 a barrel. Both benchmarks on Monday marked their highest settlements of the year.

But offering some support for oil prices, Chinas February trade data showed China oil imports rose 24.5% versus the year ago. Recent reports have also shown declines in the number of active U.S. oil rigs and expectations for further falls in domestic shale production.

The Treasury complex climbed higher to begin the session, but backed away from its high. The yield on the 10-yr note ended lower by eight basis points at 1.82%.

Todays participation stood more than 1.08 billion shares at the New York Stock Exchange floor.

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Asia Pacific Market: Stocks drop on weak China trade data
Mar 08,2016

Asia Pacific share market declined on Tuesday, 08 March 2016, as investors took profit from the recent rally after China issued data showing February trade performance was much worse than expected, with exports tumbling the most in over six years.

Chinas foreign trade continued to slump in February as a result of weak global demand and seasonal factors combined, according to the data from the General Administration of Customs today. Exports lost 20.6% from a year earlier to 821.7 billion yuan (US$126 billion) last month, down from the fall of 6.6% in January by a big margin. In comparison, Imports cut 8% to 612.2 billion yuan, improving from the contraction of 14.4% a month earlier. As a result, trade surplus in February landed at 209.4 billion yuan, a sharp reduction from the surplus of 406.2 billion yuan in January thanks to better performance of imports than exports.

On Monday, China data released after the market close showed foreign currency reserves on the mainland fell to $3.2 trillion at the end of February, dropping from $3.23 trillion the previous month, marking the fourth straight month of declines, although the pace of outflows slowed substantially.

Among Asian bourses

Australia Market snaps five-session run

Australian share market declined for the first time in six sessions in row, due to profit booking across the board, with big miners and banks stocks leading selloff. At the close, the benchmark S&P/ASX200 index declined 34.80 points, or 0.68%, at 5108, while the broader All Ordinaries index dropped 35.20 points, or 0.68%, to 5169.50.

Material and resources and energy stocks ended down. Mining giant BHP Billiton dropped 1.8% to A$18.21 and Rio Tinto declined 2.6% to A$45.26. Fortescue Metals Group ended down 9.4% to A$2.79 after briefly rising 23%, on announcement it has signed a preliminary agreement with Brazilian iron ore giant Vale to pursue iron ore blending and stake sale in the Australian miner. Woodside Petroleum declined 0.3% to A$27.57, Santos 1.8% to A$3.89 and Origin Energy 2.9% to A$5.08.

Shares of retailers were up after the ANZ-Roy Morgan consumer confidence index jumped 3.1% in the week ending March 6, climbing back above its long-term average. Wesfarmers was up 34 cents at A$40.86, while Woolworths lost 2 cents to finish at A$23.

Nikkei drops on strong yen

Japan share market declined for second consecutive session, as a firm yen and concerns about the worlds second largest economy triggered profit booking. Every industry category on the main section except textile and real estate issues lost ground led by nonferrous metal, electric power and gas, and banking issues. The 225-issue Nikkei average declined 128.17 points, or 0.76%, to finish at 16783.15. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 14.18 points, or 1.04%, lower at 1347.72.

Major Japanese exporters struggled on the back of the yens strength. A strong yen is a negative for exporters as it usually reduces their overseas profits when converted into local currency. Soy sauce maker Kikkoman Corp, which gets 47% of revenue from North America, dropped 1.9% to 3785 yen. Subaru automaker Fuji Heavy Industries, which relies on North America for 60% of sales, lost 0.5% to 3990 yen. Among other blue chip exporters, Sony Corp dropped 1.7% to 2570 yen and Panasonic Corp 2.8% to 992 yen, meanwhile Toyota Motor Corp dropped 1.8% to 5990 yen, Nissan Motor Co 2.6% to 1091 yen, and Mazda Motor Corp. 2.1% to 1669 yen. Alps Electric Co. sank 3.1% to 2101 yen and TDK Corp 0.7% to 8770 yen.

Japanese automaker Suzuki Motor closed down 3.8% to 2832 yen, following a report that the company will issue 200 billion yen in zero-coupon convertible bonds and use most of the proceeds toward widening its operations in India.

Shares of Japans Softbank closed up 1.7% to 5851 yen after the company announced reorganization plans to separate its domestic and overseas businesses with separate chief executives. This latest move to boost shareholder value comes after a $4.4 billion share buyback plan announced in February.

China Market ekes out gain

Mainland China stock market ended marginally higher after wiping out initial losses, as traders digested weaker-than-expected trade data from the mainland. Industrial & Commercial Bank of China and PetroChina Co, considered to be targets of government buying because of their large index weighting, were the biggest contributors to gains. Transportation and raw-material companies declined after data showed Chinas outbound shipments sank last month by the most since May 2009. The Shanghai Composite Index ended up 4.05 points, or 0.14%, at 2901.39. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, rose 5.14 points, or 0.09%, to 3107.67.

Shares of transportation companies declined, with China International Marine Containers (Group) Co. down 4.3%, while Spring Airlines Co. dropped 3.2%. Jiangxi Copper Co. and Zijin Mining Group Co. paced losses for material producers, sliding at least 1.8%.

Shares of property developers closed down amid warnings about a housing bubble in top property markets by analysts. Chongqing Mayor Huang Qifan said that China could be headed for a financial disaster if local governments are allowed to keep encouraging home buying with measures such as reducing down-payment requirements. Poly Real Estate Group C fell 1.2% and Gree Real Estate Co sank 1.5%.

Hong Kong Stocks fall on profit taking

The Hong Kong stock market ended down, as profit taking selloff fueled after soggy Chinese trade numbers. Chinas February trade performance was much worse than economists had expected, with exports tumbling 25.4% from a year earlier and imports sliding 13.8% in dollar-denominated terms. The benchmark Hang Seng Index declined 148.14 points, or 0.73%, to 20011.58 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, dropped 121.09 points, or 1.4%, to 8505.22 points. Turnover reduced to HK$62.6 billion from HK$74.9 billion on Monday.

Shares of Macau gaming counters fell across the board on reports that the total full-time employees in the gaming industry reduced 2.7% in 4Q 2015, with the number of dealers falling 4.4%. JP Morgan also said Macaus GGR in the first week in March came in weak. Galaxy Ent (00027) and Sands China (01928) declined 3% and 4% to HK$26 and HK$27.5. Wynn Macau (01128) dropped 4% to HK$9.29.

Wharf (00004) softened 1% to HK$43.3 ahead of its earnings report tomorrow. Goldman Sachs tipped the developers 2015 core earnings rose 3% to HK$10.7 billion. Hysan Dev (00014) rose 1% to HK$33.7 after it reported a 41% decline in its 2015 net profit.

Indian market settles near the flat line

Losses for banking stocks offset gains for metal shares and index heavyweights Reliance Industries, ITC and HDFC, with the two key benchmark indices settling near the flat line. The barometer index, the S&P BSE Sensex, rose 12.75 points or 0.05% to settle at 24,659.23. The 50-unit Nifty 50 index fell 0.05 points to settle at 7,485.30.

Metal shares edged higher after overnight rally in commodity prices. Shares of oil exploration and production companies rose as global crude oil prices surged. Stocks of most public sector banks (PSU banks) edged lower after Finance Minister Arun Jaitley on Saturday, 5 March 2016, said that an Experts Group would be constituted immediately to consider a proposal for merger of PSU banks in order to have strong banks.

Bank of Baroda dropped after the Central Bureau of Investigation (CBI) in an announcement dated 6 March 2016 said that it has conducted searches at ten locations in the office/residential premises of certain persons at Delhi/NCR/other places in an on-going investigation of a case relating to alleged violation of banking norms in overseas remittance of foreign exchange of Rs 6000 crore in an illegal and irregular manner from Bank of Barodas Ashok Vihar, Delhi branch. Syndicate Bank edged lower on media reports that the Central Bureau of Investigation (CBI) is investigating an alleged fraud at the state-run bank involving more than Rs 1000 crore.

Strides Shasun edged higher after the company announced that its wholly owned subsidiary Strides Pharma Inc. has entered into an agreement with Moberg Pharma, Sweden and its affiliates to acquire three OTC brands for a total consideration of $10 million plus inventory value at closing.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 0.4% to 6446.72. Taiwans Taiex index added 0.1% to 8664.31. South Koreas KOPSI fell 0.6% to 1946.12. Malaysias KLCI fell 0.6% to 1687.86. Singapores Straits Times index dropped 1.6% at 2778.77. Indonesias Jakarta Composite index sank 0.4% to 4811.04.

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Australia Market snaps five-session run
Mar 08,2016

Australian share market declined for the first time in six sessions in row on Tuesday, 08 March 2016, due to profit booking across the board, with big miners and banks stocks leading selloff. At the close, the benchmark S&P/ASX200 index declined 34.80 points, or 0.68%, at 5108, while the broader All Ordinaries index dropped 35.20 points, or 0.68%, to 5169.50.

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China market ekes out gain
Mar 08,2016

Mainland China stock market ended marginally higher after wiping out initial losses on Tuesday, 08 March 2016, as traders digested weaker-than-expected trade data from the mainland. Industrial & Commercial Bank of China and PetroChina Co, considered to be targets of government buying because of their large index weighting, were the biggest contributors to gains. Transportation and raw-material companies declined after data showed Chinas outbound shipments sank last month by the most since May 2009. The Shanghai Composite Index ended up 4.05 points, or 0.14%, at 2901.39. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, rose 5.14 points, or 0.09%, to 3107.67.

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Nikkei drops on strong yen
Mar 08,2016

Japan share market declined for second session in row on Tuesday, 08 March 2016, as a firm yen and concerns about the worlds second largest economy triggered profit booking. Every industry category on the main section except textile and real estate issues lost ground led by nonferrous metal, electric power and gas, and banking issues. The 225-issue Nikkei average declined 128.17 points, or 0.76%, to finish at 16783.15. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 14.18 points, or 1.04 percent, lower at 1347.72.

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Hong Kong Stocks fall on profit taking
Mar 08,2016

The Hong Kong stock market ended down on Tuesday, 08 March 2016, as profit taking selloff fueled after soggy Chinese trade numbers. Chinas February trade performance was much worse than economists had expected, with exports tumbling 25.4 per cent from a year earlier and imports sliding 13.8 per cent in dollar-denominated terms. The benchmark Hang Seng Index declined 148.14 points, or 0.73%, to 20011.58 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, dropped 121.09 points, or 1.4%, to 8505.22 points. Turnover reduced to HK$62.6 billion from HK$74.9 billion on Monday.

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Asia Pacific Market: Stocks extend gain
Mar 03,2016

Asia Pacific share market continued uptrend on Thursday, 03 March 2016, on the back of more sign of an improving U.S. economy and stronger commodity prices.

The sign of U.S. economy improvement helped ease investor worries about slowing global economic growth. The U.S. Federal Reserves n++beige bookn++ report on Wednesday showed economic activity in most areas of the U.S. grew in recent months, while a private jobs gauge suggested employment rose in February.

Oil prices have maintained their upward trend, as Russias Rosneft, the worlds biggest listed oil producer by volume, said its considering a cut to domestic production to balance the global market and as the firm faces a natural decline in 2016. Brent crude prices hovered at about $37 per barrel in Asian trading hours. Brent crude was up 0.30 per cent at $36.92 a barrel on Wednesday, while WTI, or US, crude was up 28 US cents at $34.68.

Copper, aluminium and zinc have hit their highest levels in several months, bolstered by optimism that global growth will pick up and as speculators chased the rally. Announcements from China this week of a cut in bank reserve requirements and structural reforms also helped to underpin sentiment.

Among Asian bourses

Australia market extends gain

Australian share market finished higher for fourth session in row, with big four banks, materials, and energy stocks leading rally, thanks to positive leads from the US and Europe markets overnight as well as strong performances on Asian markets. At the close, the benchmark S&P/ASX200 index rose 59.90 points, or 1.2%, at 5081.10, while the broader All Ordinaries index added 58.70 points, or 1.2%, to 5142.20.

Material and resources and energy stocks extended gains, on tracking firm trend in the commodity prices. Mining giant BHP Billiton gained 3.1% to A$17.25 after a US$2.3 billion settlement for the Samarco dam disaster in Brazil was reached, which lower than many had speculated. Rio Tinto closed 2.1% up at A$44.20 and Fortescue Metals Group added 6.7% to A$2.40. Meanwhile, resources industry services firms WorleyParsons and Monadelphous also strong gains, lifting 5.75 per cent and 6.19 per cent respectively. Woodside Petroleum advanced 5.1% to A$27.11, Santos rose 5% to A$3.60 and Origin Energy lifted 2.6% to A$4.71.

The Australian Bureau of Statistic data showed that goods and services credits rose seasonally adjusted A$266m (1%) to A$25,549m while goods and services debits fell seasonally adjusted A$320m (1%) to A$28,487m. Thus, the balance on goods and services was a deficit of A$2,937m in January 2016, a decrease of A$587m (17%) on the deficit in December 2015.

Nikkei extends gain

Japan share market advanced for third session in row, on tracking positive lead from offshore markets overnight and yen depreciation against greenback. Also, adding risk sentiment was the Bank of Japan Deputy Governor Hiroshi Nakaso statement that Japan needs both aggressive monetary easing and government structural reform aimed at boosting labor productivity in order to overcome years of deflation and achieve sustained growth. Total 26 out of 33 TSE sectors advanced, with notable advancers comprised marine transportation, banking and mining-linked stocks. The 225-issue Nikkei average advanced 213.61 points, or 1.28%, to finish at 16960.16. The Topix index of all first-section issues closed up 19.44 points, or 1.44%, at 1369.05.

The Topix Banks Index gained 6.2%, as investors bought back the mega bank shares following the recent heavy selling in the wake of the Bank of Japans introduction of negative interest rate policy. Sumitomo Mitsui Financial Group soared 284 yen, or 8.6%, to 3,604 yen and Mitsubishi UFJ Financial Group spiked 40.40 yen, or 7.9% to 551.30 yen

Tokyu Fudosan Holdings climbed 1.7% to 773 yen on reports that its real estate agency unit will enter the hotel development business to capitalize on an accommodation shortage amid an increase in the number of overseas tourists.

Kohnan Shoji rose 1.5% to 1,566 yen after the home center operator said Wednesday that it will open up its first overseas store in Ho Chi Minh City, Vietnam in the summer.

Sacs Bar Holdings dived 5.9% to 1,472 yen after the handbag retailer reported Wednesday that sales dropped in February from a year earlier on a same-store basis.

China stocks rise for third day

Mainland China stock market closed higher for third day in row on hopes for further stimulus efforts announcement during a key meeting of Chinas top legislature that starts on Saturday. But, gains were limited after Moodys downgrade on the credit outlook for China and more than 70 mainland-owned companies The Shanghai Composite Index ended up 10.08 points, or 0.35%, at 2859.76. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, rose 7.09 points, or 0.23%, to 3058.42.

Moodys Investor Service downgraded the credit outlook of 71 mainland companies to negative, including 38 state-owned enterprises, 25 non-insurance financial institutions, and eight insurance companies. On Wednesday, Moodys also cut Chinas sovereign credit rating to negative from stable, citing rising government debts and shrinking foreign exchange reserves as among the key reasons.

Shares of property developers and financial companies sustained strong upward momentum amid signs of recovery in several major cities. Hangzhou Binjiang Real Estate advanced 1.3%. Rise Sun Real Estate Development Co. climbed 1.4%. ICBC rose 0.5% and Bank of China added 0.3%.

Materials and resources stocks also benefited. Yunnan Copper Co.gained 3.5%, while Tongling Nonferrous Metals Group Co. added 1.7%.

Energy stocks fell, on profit booking after strong rally yesterday. Shanxi Xishan Coal & Electricity Power Co. lost 0.7% after jumping by the 10% daily limit a day earlier. Shanxi Luan Environmental Energy Development Co. retreated 3%.

Hong Kong stocks fall on profit taking

The Hong Kong stock market ended softer on Thursday, 03 March 2016, bucking the regional trend, due to profit taking selloff, following yesterdays sharp surge. The benchmark index opened up 78 points at 20,082, which marked the intra-day high. It then went south and fell as much as 211 point to an intra-day low of 19,791 at one stage. The benchmark Hang Seng Index declined 61.73 points, or 0.31%, to 19941.76 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, rose 16.70 points, or 0.2%, to 8390.79 points. Turnover reduced to HK$71.7 billion from HK$92.7 billion on Wednesday.

Shares of casino companies declined after S&P statement that Macaus better-than-expected gaming revenue numbers for February 2016 are not a sign of a rebound. The credit rating agency expects the gaming revenue in Macau to decline up to 10% in 2016. Sands China (01928) declined 2% to HK$28.65. Galaxy Ent (00027) softened 1% to HK$26.95.

HKEx (00388) fell 1% to HK$173.3 as both Citi Research and Deutsche Bank were bearish for the outlook for the stock, with the former lowering its rating to sell and the latter chopping its target price by 56% to HK$140.

CKI (01038) slid 5% to HK$75.7 after Morgan Stanley downgraded its rating for the stock to underweight, noting the share price has discounted positive of its inclusion into the HSI family.

Sensex, Nifty hit almost four-week closing high

Gains in metal and capital goods stocks along with index heavyweights Infosys and HDFC led the latest rally for the two key benchmark indices. The barometer index, the S&P BSE Sensex, rose 364.01 points or 1.5% to settle at 24,606.99. The 50-unit Nifty 50 index rose 106.75 points or 1.45% to settle at 7,475.60.

Data showing heavy purchases of Indian stocks by foreign portfolio investors (FPIs) during the previous trading session boosted sentiment on the domestic bourses. FPIs bought shares worth a net Rs 1708.38 crore from the secondary equity markets, yesterday, 2 March 2016, as per data from National Securities Depository (NSDL). The Sensex had risen almost 2% yesterday, 2 March 2016, mirroring a rally in Asian stocks.

Metal and mining stocks were in demand after favourable announcements in the Union Budget 2016-17 announced early this week. Capital goods edged higher on expectations of increase in order flow following the governments thrust on infrastructure sector in the Budget. Dr Reddys Laboratories surged after receiving approval from the United States Food and Drug Administration (FDA) for Palonosetron Hydrochloride injection or Aloxi generic. Central Bank of India nudged higher after the state-run bank said that a special committee of the board has approved raising funds by issuing equity shares.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 1.1% to 6380.86. Taiwans Taiex index added 0.8% to 8611.79. South Koreas KOPSI rose 0.6% to 1958.17. Malaysias KLCI fell 0.2% to 1688.20. Singapores Straits Times index climbed up 2.2% at 2787.62. Indonesias Jakarta Composite index advanced 0.2% to 4844.

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China Stocks rise for third day
Mar 03,2016

Mainland China stock market closed higher for third day in row on Thursday, 03 March 2016, on hopes for further stimulus efforts announcement during a key meeting of Chinas top legislature that starts on Saturday. But, gains were limited after Moodys downgrade on the credit outlook for China and more than 70 mainland-owned companies The Shanghai Composite Index ended up 10.08 points, or 0.35%, at 2859.76. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, rose 7.09 points, or 0.23%, to 3058.42.

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