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Hong Kong Stocks climbs 1.12%
Jul 14,2016

The Hong Kong stock market closed up in quite yet volatile trade on Thursday, 14 July 2016. The benchmark index opened down 24 points at 21,297, and moved within narrow band in the morning session. In afternoon trade, when the European markets opened higher, HK stocks saw its gains widen and recovered the so-called bear-bull line (now at 21,415). The benchmark Hang Seng Index advanced 238.69 points, or 1.12%, to 212561.06 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 101.04 points, or 1.13%, to 9010.10. Turnover decreased to HK$62.3 billion from HK$69 billion on Wednesday. The benchmark has risen for four consecutive days, with total gains of 997 points.

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China Stocks drop after disappointing trade data
Jul 14,2016

Mainland China stock market closed down on Thursday, 14 July 2016, halting a three-day advance, as investors sold metals, mining and materials shares following weak trade data. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.18%, to 3273.18, while the Shanghai Composite Index fell 0.22%, to 3054.02 points.

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Japan Market extends gain as weak yen lifts risk appetite
Jul 14,2016

The Japan share market closed stronger for fourth straight session on Thursday, 14 July 2016, on the back of yen softness against greenback and growing hopes for more monetary stimulus from Japanese authorities. Sentiments also boosted up after a key adviser to Prime Minister Shinzo Abe said Ben S. Bernanke had floated the idea of perpetual bonds to stimulate Japans economy. But, the rising momentum has abated somewhat, as the markets focus shifted to the Bank of Englands policy decision later in the day. Total 29 out of 33 TSE sectors advanced, with Textiles & Apparels, Rubber Products, Nonferrous Metals, Construction, and Oil & Coal Products issues being major gainer. The 225-issue Nikkei Stock Average inclined 154.46 points, or 0.95%, to 16,385.89. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 10.90 points, or 0.84%, higher at 1,311.16.

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Australia Market extends gain to sixth day
Jul 14,2016

Australian share market closed higher sixth consecutive session on Thursday, 14 July 2016 as investor appetite for bank stocks were more than offset weakness in resources and energy stocks. At close of trade, the benchmark S&P/ASX 200 index advanced 23.10 points, or 0.43%, to 5411.60. The broader All Ordinaries climbed up 21.50 points, or 0.39%, to 5491.80. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 607 to 432 and 334 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.66% to 16.062 a new 1-month low.

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Asia Pacific market: Stocks climb on Japan election result, US jobs data
Jul 11,2016

Asia Pacific share market advanced on Monday, 11 July 2016, as risk appetite buying bolstered by election results in Japan and Australia and last weeks strong monthly U.S. jobs report which eased concerns over the health of the worlds largest economy

Abes Liberal Democratic Party won 56 of the 121 seats in contention, public broadcaster NHK said, while its junior coalition partner Komeito had 14. Alongside others who support Abes view on constitutional revision, plus uncontested seats, the prime minister is set for a super majority. By strengthening Abes hand, the election increases the likelihood that the government will introduce fiscal stimulus while expanding its program of asset purchases to keep interest rates low. The Nikkei newspaper reported that Abe would on Tuesday order the compilation of a stimulus package, which one of his advisers has said should be 20 trillion yen ($196 billion) in the current fiscal year.

Prime Minister Malcolm Turnbull declared victory in Australias election, though it remains unclear if his Liberal-National coalition has enough seats to form a majority government more than a week after voting day.

The US employment report on Friday, which showed the economy added 287,000 jobs last month, was more than forecast and acted as an immediate impetus for investors starting the week with a greater appetite for risk.

Among Asian bourses

Australia Market surges 2%

Australian share market finished the session higher sharply higher on the back of bargain buying across the board, with material and resources and financial blue chip shares leading gains. At close of trade, the benchmark S&P/ASX 200 index advanced 106.60 points, or 2.04%, to 5337.10. The broader All Ordinaries climbed up 101.90 points, or 1.92%, to 5471.50. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 751 to 350 and 310 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.70% to 17.402.

Shares of materials and resources enjoyed support as risk appetite returned to the sector following Friday nights solid jobs data, which boosted hopes the global recovery remained on track. BHP Billiton inclined 2.9% to A$19.60, meanwhile main rival Rio Tinto was up 2.5% to A$49.52 and iron ore miner Fortescue Metals Group grew 5.4% to A$4.07.

Banks and financial stocks advanced on bargain hunting after a disappointing run last week. Commonwealth Bank of Australia added 2.3% to A$74.10, Westpac Banking Corp 3.3% to A$29.19, ANZ Banking Group 3.5% to A$23.92, and National Australia Bank 2.3% to A$24.99.

Shares in Primary Health Care were down 2.6% to A$3.72 after the company warned that it will miss its annual profit guidance, blaming a string of writedowns within the medical centres business. The company expects to book underlying profit after tax of A$104 million for the year ended June 30. Previously, Primary had expected to meet the bottom end of its forecast range of A$110 million to A$115 million. Of the write-offs, A$66 million will be booked in fiscal 2016 and A$32 million in prior periods.

Japan Market surges as election point to further Abenomics

The Japan share market inclined, after Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending. Abes Liberal Democratic Party scored a big win in Upper House elections held over the weekend. The election was said to be a referendum on Abes economic stimulus plan dubbed Abenomics, which uses the three arrows of fiscal stimulus, monetary easing and structural reforms. Many observers are emphasizing that the weekend election in Japan has given a super-majority to those parties that want to change the constitution, relaxing the restraints on the military. All 33 TSE sectors advanced, with Iron & Steel, Securities & Commodities Futures, Glass & Ceramics Products, Insurance, and Nonferrous Metals issues being major gainer. The 225-issue Nikkei Stock Average spurted 601.84 points, or 3.98%, to 15708.82. The broader Topix index of all First Section issues on the Tokyo Stock Exchange surged 45.91 points, or 3.79%, to 1255.79. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1968 to 62 and 19 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.88% to 29.50.

Construction and real-estate stocks closed sharp higher on hopes government likely expand the size of its fiscal stimulus. Construction firm Taisei Corp. rose 6.4% to 863 yen. Real-estate developer Mitsui Fudosan Co. gained 6% to 2,161 yen.

Nintendo Co. surged 25%, after its new mobile-game app, Pokemon Go, climbed to the top of the free-to-use charts for Apple Inc. in the U.S. and Australia.

Kyushu Electric Power Co. lost 7.5% after the election victory of a new governor in Kagoshima who campaigned on temporarily halting the running of nuclear reactors for security checks. Kyushu Electrics Sendai nuclear power plant is located in Kagoshima.

China Stocks rise on stimulus optimism

Mainland China stock market closed stronger, as muted inflation data released over the weekend reinforcing expectations the government will announce further stimulus in the second half of 2016. Consumer prices in June grew .9% from a year earlier, down from the pace in May, while producer prices extended their decline (down 2.6%), reinforcing economists views more support was needed to help the economy. Gains were broad based with manufacturing and mining shares all rising, but finance shares lagged on news that the banking regulator was investigating risks in the bill-financing business of some commercial banks. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.35%, to 3203.33, while the Shanghai Composite Index grew 0.23%, to 2994.92 points.

Shares of banks and financials declined on news of a rise in non-performing loans at the countrys banks. Outstanding non-performing loans (NPLs) in Chinas vast banking sector exceeded the two trillion yuan ($299.21 billion) mark at the end of May, a senior banking regulator official said on Thursday.

Hong Kong Stocks climbs 1.6%

The Hong Kong stock market closed up, coinciding with an upbeat session on mainland equity markets after key US indexes surged to records last week. The benchmark Hang Seng Index advanced 427.65 points, or 1.61%, to 26933.30 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 168.21 points, or 1.97%, to 8703. Turnover increased to HK$60.3 billion from HK$47.2 billion on Friday.

Dairy product producers were chased on hopes of upcoming launch of the Shenzhen-Hong Kong Connect program. Mengniu Dairy (02319) advanced 2% to HK$13.36. Biostime (01112) surged 9% to HK$27.7.

Property counters also attracted buying orders. SHKP (00016) rose 2% to HK$100.1. Henderson Land (00012) also gained 1% to HK$43.55. MTRC (00066) rose 2% to HK$40.4. Tencent (00700) added 2% to HK$180 as both Citi Research and Daiwa Research are bullish for its outlook.

China Comm Con (01800) jumped 4% to HK$8.37. CRRC (01766) gained 1% to HK$7.02. China Railway (00390) rose 1% to HK$5.71.

Aviation counters were higher on report that international passenger traffic increased 11% in the first half of 2016. Air China (00753) jumped 4% to HK$5.7. Cathay Pacific (00293) gained 2% to HK$11.5.

Sensex, Nifty hit almost 11-month closing high

Banking, auto sector stocks and index heavyweights HDFC, ITC and Infosys led rally for the two key benchmark indices triggered by firm global stocks. The Sensex jumped 499.79 points or 1.84% to settle at 27,626.69. The Nifty gained 144.70 points or 1.74% to settle at 8,467.90. All the nineteen sectoral indices on BSE registered gains.

IndusInd Bank slipped in volatile trade after announcing Q1 June 2016 results. The stock fell 0.11% to Rs 1,125.50. IndusInd Banks gross non-performing assets (NPA) stood at Rs 860.64 crore as on 30 June 2016 compared with Rs 776.82 crore as on 31 March 2016 and Rs 570.12 crore as on 30 June 2015. The ratio of gross NPA to gross advances stood at 0.91% as on 30 June 2016 compared with 0.87% as on 31 March 2016 and 0.79% as on 30 June 2015. The ratio of net NPA to net advances stood at 0.38% as on 30 June 2016 as against 0.36% as on 31 March 2016 and 0.31% as on 30 June 2015. The banks provisions and contingencies rose 86.87% to Rs 230.47 crore in Q1 June 2016 over Q1 June 2015.

Punjab National Bank jumped 9.27% after the Reserve Bank of India (RBI) after trading hours on Friday, 8 July 2016, notified that the aggregate foreign shareholding in the state-run bank has gone below the prescribed threshold caution limit stipulated under the extant foreign direct investment (FDI) policy. Hence, the restrictions placed on the purchase of shares of PNB are withdrawn with immediate effect.

State-run coal-mining giant Coal India rose 2.84% ahead of the board meeting today, 11 July 2016 to consider the proposal for buyback of equity shares.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 0.9% to 7062.45. South Koreas KOSPI index gained 1.3% to 1988.54. Taiwans Taiex index climbed 1.7% to 8786.47. Malaysias KLCI grew 0.6% to 1653.87. Indonesias Jakarta Composite index gained 2% to 5069. Singapores Straits Times index added 1% to 2876.14.

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Hong Kong Stocks climbs 1.6%
Jul 11,2016

The Hong Kong stock market closed up on Monday, 11 July 2016, coinciding with an upbeat session on mainland equity markets after key US indexes surged to records last week. The benchmark Hang Seng Index advanced 427.65 points, or 1.61%, to 26933.30 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 168.21 points, or 1.97%, to 8703. Turnover increased to HK$60.3 billion from HK$47.2 billion on Friday.

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China Stocks rise on stimulus optimism
Jul 11,2016

Mainland China stock market closed stronger on Monday, 11 July 2016, as muted inflation data released over the weekend reinforcing expectations the government will announce further stimulus in the second half of 2016. Consumer prices in June grew .9 percent from a year earlier, down from the pace in May, while producer prices extended their decline (down 2.6 percent), reinforcing economists views more support was needed to help the economy. Gains were broad based with manufacturing and mining shares all rising, but finance shares lagged on news that the banking regulator was investigating risks in the bill-financing business of some commercial banks. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.35%, to 3203.33, while the Shanghai Composite Index grew 0.23%, to 2994.92 points.

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Japan Market surges as election point to further Abenomics
Jul 11,2016

The Japan share market inclined on Monday, 11 July 2016, after Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending. Abes Liberal Democratic Party scored a big win in Upper House elections held over the weekend. The election was said to be a referendum on Abes economic stimulus plan dubbed Abenomics, which uses the three arrows of fiscal stimulus, monetary easing and structural reforms. Many observers are emphasizing that the weekend election in Japan has given a super-majority to those parties that want to change the constitution, relaxing the restraints on the military. All 33 TSE sectors advanced, with Iron & Steel, Securities & Commodities Futures, Glass & Ceramics Products, Insurance, and Nonferrous Metals issues being major gainer. The 225-issue Nikkei Stock Average spurted 601.84 points, or 3.98%, to 15708.82. The broader Topix index of all First Section issues on the Tokyo Stock Exchange surged 45.91 points, or 3.79%, to 1255.79. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1968 to 62 and 19 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.88% to 29.50.

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Australia Market surges 2%
Jul 11,2016

Australian share market finished the session higher sharply higher on Monday, 11 July 2016, on the back of bargain buying across the board, with material and resources and financial blue chip shares leading gains. At close of trade, the benchmark S&P/ASX 200 index advanced 106.60 points, or 2.04%, to 5337.10. The broader All Ordinaries climbed up 101.90 points, or 1.92%, to 5471.50. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 751 to 350 and 310 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.70% to 17.402.

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Asia Pacific Market: Risk Aversion Stays as Focus Turns to FOMC Minutes
Jul 06,2016

Asia pacific Market declined on Wednesday, 06 July 2016, as concerns over global economic growth sapped confidence for risk assets. Renewed Brexit jitters also sent the British pound tumbling to a fresh 31-year low.

Investors flocked to safe-haven assets, such as U.S. Treasurys, the yen and the greenback, after three U.K. real estate funds halted selling and the Bank of England relaxed regulations to encourage banks to lend out more money.

Markets are turning focus to FOMC minutes. The FOMC minutes to be released later today are of the meeting just before Brexit referendum. A major focus would be on how policymakers were concerned with the weak May non-farm payroll report released in early June. Also, the minutes might reveal the discussions on the rate path and how confident are policymakers that Fed is still on course for two hikes this year.

Yesterday, San Francisco Fed John Williams downplayed the impact of Brexit and said that its just a relatively modest risk to the US outlook. He maintained his view that unemployment will drop to 4.5% this year and inflation will continue to move up. And in Williams view, Fed is still on course to hike interest rate if his growth and inflation expectations are met. And he warned that being cautious forever would just lead us to need to raise rates much more aggressively in the future.

On the other hand, New York Fed president William Dudley said that if you strip out the energy sector, inflation is still a little below what we would like... so that allows us to be patient in terms of letting the economy run with accommodative monetary policy in place. And, with uncertainties about the outlook and inflation being lower than desired, it allows us to be a little more patient. FOMC will release June meeting minutes later today and would reveal more about policymakers view on rate hikes.

Gold reached its highest level in more than two years as investors risk off sentiment sent them pouring into safe haven assets. The precious metal jumped as much as 1 per cent to $US1370.62 an ounce, the highest level since March 2014. Continued political turmoil in the United Kingdom and the possibility of Brexit marring global growth plans weighed on investors minds. Silver also surged as much as 2.4 per cent to $US20.41 an ounce.

Crude tumbled to a one-week-low as the US dollar continued to strengthen and markets digest ample stockpiles threatening the rebalancing of the oil market. Crude oil has soared more than 80 per cent since its 12-year lows in February, thanks to supply disruptions and falling US output. Most recently, Nigeria has increased its supply output, despite continued militant attacks on its pipelines.

Among Asian bourses

Australia Market extends losses

Australian share market declined on Wednesday, 06 July 2016, on the back of yesterdays weaker trade balance figures and domestic political uncertainty. At close of trade, the benchmark S&P/ASX 200 index declined 30.50 points, or 0.58%, to 5197.50. The broader All Ordinaries shrank 28.10 points, or 0.53%, to 5284.70. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 582 to 451 and 293 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 1.72% to 19.232.

Shares of banks and financial companies declined for second straight day on signs that lenders will need to further increase their capital buffers after the Australian Prudential Regulation Authority told lenders that they will need to increase their capital ratios further in the wake of shifting international requirements. Commonwealth Bank of Australia dropped 0.8% to A$71.97, Westpac Banking Corp 1.2% to A$28.20. ANZ Banking Group 1.9% to A$22.96, and National Australia Bank 0.6% to A$24.54.

The energy and resources sector shares both tracked volatility in iron ore and oil, with Woodside losing 0.6% to A$26.33 and Oil Search falling 1.2% to A$6.82. BHP Billiton declined 3.8% to A$18.71, meanwhile main rival Rio Tinto was down 2% to A$46.81 and iron ore miner Fortescue Metals Group shed 1% to A$3.79.

Japan Market dips 1.85% on stronger yen

The Japan share market declined for second straight session on Wednesday, 06 July 2016, as a fresh bout of anxiety over Brexit risks and yen strength against greenback rattled investors. Meanwhile selloff pressure mounted on caution ahead of important U.S. economic indicators scheduled to be released later this week, including June jobs data due out Friday, as well as the outcome of Japans upper house election on Sunday. Total 29 out of 33 TSE sectors declined, with Financial Business, Rubber Products, Securities & Commodities Futures, Iron & Steel, Real Estate, Nonferrous Metals, and Banks issues being major losers while Fishery, Agriculture & Forestry, Pulp & Paper, and Foods issues were notable gainers. The 225-issue Nikkei Stock Average dropped 290.34 points, or 1.85%, to 15378.99. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 22.44 points, or 1.79%, to 1234.20.

Shares of exports tumbled on concern strong yen hurts the competitiveness of Japanese exports and chips away at the value of exporters repatriated income. The yen strengthened as much as 0.8 per cent to ‎100.94 yen per dollar, its strongest level since June 24 in the aftermath of the Brexit vote. Subaru automaker Fuji Heavy Industries, which relies on North America for 60% of sales, lost 4.4%. Air-conditioner maker Daikin Industries lost 2.9% to 7385 yen. Fanuc Corp dipped 2.8%, Sony Corp 0.2%, Canon Inc 2%, and Panasonic Corp 3.2%. Automaker Toyota Motor Corp dropped 1.7%, Nissan Motor Co 2% and Mazda Motor Corp. 6.1%.

Shares of banks declined after a warning from the European Central Bank that Italys number-three Banca Monte dei Paschi di Siena, the worlds oldest bank, had dangerously high levels of bad debt. Japanese banking giant Mitsubishi UFJ Financial Group and rival Sumitomo Mitsui Financial Group tumbled 3.6% and 2.4%, respectively.

China Stocks end higher

Mainland China stock market closed higher on Wednesday, 06 July 2016, after wavering between positive and negative territory throughout the session. The gain was credited to the Peoples Bank of China statement that it would continue to implement a prudent monetary policy and reasonable growth in credit and social financing. Total 7 out of 10 SSE sectoral indices advanced, with materials issue being top gainer, followed by consumer staples and healthcare issues being top gainers, while industrials and financials issues were notable decliners. The CSI300 index of the largest listed companies in Shanghai and Shenzhen grew 0.29%, to 3216.80, while the Shanghai Composite Index rose 0.36%, to 3017.29 points.

The Chinas yuan fell to its lowest against the dollar since November 2010 on Wednesday, extending its slide to a fifth straight session, after Chinas central bank sharply weakened its official guidance rate as the dollar surged. Chinas central bank on Wednesday set its yuan/dollar midpoint rate at 6.6857 prior to the market opening after the yuan had tumbled in late trade on Tuesday. Wednesdays midpoint weakened 0.4% from the previous days fix of 6.6594 per dollar.

Hong Kong Stocks sink 1.23%

The Hong Kong stock market closed down on Tuesday, 05 July 2016, as investors fled riskier assets on following the 108-point slide of the Dow overnight and the break below 10-mark of the pound against HKD amid worries over the fallout from Britains shock decision to leave the European Union. The benchmark Hang Seng Index dropped 255.43 points, or 1.23%, to 20495.29 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 140.17 points, or 1.62%, to 8503.14. Turnover increased to HK$60.7 billion from HK$53.6 billion on Tuesday.

The pound has set new 31-year low against US dollar at 1.28 before recovering. HSBC (00005) and Standard Chartered (02888) dipped 1.2% and 1.5% to HK$46.8 and HK$56.85.

Oil prices tumbled nearly 5% overnight, dragging down oil majors. Sinopec (00386) and PetroChina (00857) declined 2.4% and 1.7% to HK$5.39 and HK$5.14. But aviation counters benefited from lower fuel costs. Cathay Pacific (00293) edged up 0.4% to HK$11.38. China Eastern Airlines (00670) put on 1.8% to HK$4.05.

Chinese banks followed the market lower even though it is expected that Chinas new loan may grew by Rmb1 trillion. CCB (00939) fell 1.6% to HK$5.03. ICBC (01398) softened 0.5% to HK$4.18.

Gold price have risen for five consecutive days on risk-aversion demand. Zhaojin Mining (01818) surged 8.4to HK$9.17. Zijing Mining (02899) jumped 4% to HK$2.81.

Wharf (00004) said it has received a number of proposals regarding the acquisition of stake in i-CABLE (01097). Wharf fell 1.3% to HK$46.6, while i-CABLE soared 28.6% to HK$0.9.

Elsewhere in the Asia Pacific region: New Zealands NZX50 rose 0.1% to 6977.23. South Koreas KOSPI index declined 1.9% to 1953.12. Taiwans Taiex index slipped 1.6% to 8575.75. Markets in Indonesia, India, Singapore, the Philippines and Malaysia are closed Wednesday for holidays.

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Hong Kong Stocks sink 1.23%
Jul 06,2016

The Hong Kong stock market closed down on Tuesday, 05 July 2016, as investors fled riskier assets on following the 108-point slide of the Dow overnight and the break below 10-mark of the pound against HKD amid worries over the fallout from Britains shock decision to leave the European Union. The benchmark Hang Seng Index dropped 255.43 points, or 1.23%, to 20495.29 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 140.17 points, or 1.62%, to 8503.14. Turnover increased to HK$60.7 billion from HK$53.6 billion on Tuesday.

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Japan Market dips 1.85% on stronger yen
Jul 06,2016

The Japan share market declined for second straight session on Wednesday, 06 July 2016, as a fresh bout of anxiety over Brexit risks and yen strength against greenback rattled investors. Meanwhile selloff pressure mounted on caution ahead of important U.S. economic indicators scheduled to be released later this week, including June jobs data due out Friday, as well as the outcome of Japans upper house election on Sunday. Total 29 out of 33 TSE sectors declined, with Financial Business, Rubber Products, Securities & Commodities Futures, Iron & Steel, Real Estate, Nonferrous Metals, and Banks issues being major losers while Fishery, Agriculture & Forestry, Pulp & Paper, and Foods issues were notable gainers. The 225-issue Nikkei Stock Average dropped 290.34 points, or 1.85%, to 15378.99. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 22.44 points, or 1.79%, to 1234.20.

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Australia Market extends losses
Jul 06,2016

Australian share market declined on Wednesday, 06 July 2016, on the back of yesterdays weaker trade balance figures and domestic political uncertainty. At close of trade, the benchmark S&P/ASX 200 index declined 30.50 points, or 0.58%, to 5197.50. The broader All Ordinaries shrank 28.10 points, or 0.53%, to 5284.70. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 582 to 451 and 293 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 1.72% to 19.232.

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Hong Kong Stocks sink 1.46%
Jul 05,2016

The Hong Kong stock market closed down on Tuesday, 05 July 2016, pressured by profit-taking, as worrying signs in Chinas service sector and as falls in major European stock markets overnight dampened investor sentiment. Trading was subdued with no directional clues from US markets, which were shut on Monday for the Independence Day holiday. The benchmark Hang Seng Index dropped 308.48 points, or 1.46%, to 20750.72 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 159.04 points, or 1.81%, to 8643.31. Turnover decreased to HK$53.6 billion from HK$68.7 billion on Monday.

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Asia Pacific Market: Stocks fall on profit booking
Jul 05,2016

Asia Pacific share market declined on Tuesday, 05 July 2016, as downturn triggered by following fall in major European stock markets overnight and concerns over global growth dampened investor sentiment. Meanwhile selloff pressure mounted on caution ahead of important U.S. economic indicators scheduled to be released later this week, including June jobs data due out Friday. Markets were also affected by a slide in oil prices after analysts predicted demand will weaken amid concerns about the global economic outlook.

Britains vote to leave, termed Brexit, has ramped up the urgency for some Asian central banks to ease monetary policy, as a prolonged period of uncertainty might lead a wider downshift in trade and investment.

Investors were wary of renewed Brexit concerns that saw European stocks finish lower on Monday. In the U.K., the ramifications of the countrys vote to quit the European Union (EU) continued to sink in. Nigel Farage, leader of the U.K. Independence party and a key Brexit campaigner, announced he was standing down, saying his political ambition had been achieved with the Brexit vote. His departure came after another key Brexit campaigner, Boris Johnson, ruled himself out of the running to become the U.K.s next prime minister. Incumbent David Cameron, a remain campaigner, said after the Brexit referendum that he would step down by October.

Uncertainty over Britains future following the Brexit vote weighed Markits construction PMI for the U.K., which dropped to 46.0 in June from 51.2 in May, marking its lowest level in seven years, with output falling at its fastest pace since 2009, during the global financial crisis.

The International Monetary Fund chief, Christine Lagarde, told a French newspaper on Monday, meanwhile, that exiting the EU could cut Britains gross domestic product by between 1.5 and 4.5 percentage points by 2019. Additionally, ratings agency S&P Global Ratings said both the euro zones and the U.K.s economic growth would take a knock as a result of the vote, with the agency warning that the U.K. would barely escape a full-fledged recession caused by Brexit.

Among Asian bourses

Australia Market tumbles 1% as banks selloff

Australian share market finished steep lower on the back of unresolved election woes and as the Reserve Bank of Australia kept interest rates on hold at 1.75%. All sectors except utilities suffered selloff pressure with consumer staples, consumer discretionary, property trusts, and financials blue chip stocks being major losers. At close of trade, the benchmark S&P/ASX 200 index tumbled 53.80 points, or 1.02%, to 5228. The broader All Ordinaries shrank 52.40 points, or 0.98%, to 5312.80.

Shares of banks and financial companies declined on concerns over the possibility of a Royal Commission into the financial institutions. The selloff was compounded by the signs that lenders will need to further increase their capital buffers. On Monday, the Australian Prudential Regulation Authority told lenders that, despite being in the top quartile of most capitalised banks in the world, they will need to increase their capital ratios further in the wake of shifting international requirements. Commonwealth Bank of Australia tumbled 1.1% to A$72.56, Westpac Banking Corp 1.5% to A$28.54. ANZ Banking Group 1.5% to A$23.40, and National Australia Bank 1.6% to A$24.68.

Japan Market slides 0.67% on profit booking

The Japan share market declined for the first time in seven sessions in row, due to profit booking on recently outperforming stocks. Meanwhile selloff pressure mounted on caution ahead of important U.S. economic indicators scheduled to be released later this week, including June jobs data due out Friday, as well as the outcome of Japans upper house election on Sunday. Total 24 out of 33 TSE sectors declined, with Fishery, Agriculture & Forestry, Machinery, Insurance, Banks, Mining, and Real Estate issues being major losers while Textiles & Apparels, Rubber Products, Construction, and Marine Transportation issues were notable gainers. The 225-issue Nikkei Stock Average dropped 106.47 points, or 0.67%, to 15669.33. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 5.33 points, or 0.42%, to 1256.64.

Shares of Financials and export-oriented companies came under profit-taking. Among them were banking groups Mitsubishi UFJ and Sumitomo Mitsui and technology giants Sony and Hitachi. By contrast, several domestic demand-oriented issues were upbeat. They included beverage maker Kirin Holdings, retailer Seven & i Holdings, railway operator JR West and candy maker Morinaga & Co.

Fast Retailing dived 4.21%, although sales at its Uniqlo casual wear shops in June increased 4.5% from a year before on a same-store basis.

Shanghai Composite closes above 3K level

Mainland China stock market closed higher on Tuesday, 05 July 2016, bucking a slump across Asia, on cementing stimulus hopes. Chinese investors became more hopeful about President Xi Jinpings calls for overhauling state-owned enterprises after private survey showed that activity in Chinas services sector rose to an 11-month high in June, but a composite measure of activity fell to a four- month low. That raised fears the services sector may not be able to make up for a prolonged decline in the industrial economy that has pushed Chinas growth to 25-year lows. Total 9 out of 10 SSE sectoral indices advanced, with industrial issue being top gainer, followed by utilities, materials, consumer staples, and consumer discretionary issues being top gainers. The CSI300 index of the largest listed companies in Shanghai and Shenzhen grew 0.08%, to 3207.38, while the Shanghai Composite Index rose 0.6%, to 3006.39 points.

CHINAS central bank said yesterday that it would use various policy tools to maintain appropriate liquidity and reasonable growth in credit and social financing. The Peoples Bank of China will continue with a prudent monetary policy and keep its stance neither too loose nor too tight, it said in a statement after the second-quarter monetary policy committee meeting. It said the central bank would improve the financing and credit structure, increase the proportion of direct financing and reduce social financing costs. The PBOC reaffirmed that it would keep the yuan exchange rate basically stable at n++a reasonable and balanced leveln++ while improving the exchange rate formation mechanism. The central bank said Chinas economic performance remained generally stable, but warned n++the complexity of the current situation should not be underestimated,n++ underlining a modest recovery in the United States, a fragile recovery in Europe, financial market volatility after the Brexit vote, sluggish growth in Japan and difficulties facing emerging economies.

The Caixin China General Services Purchasing Managers Index (PMI), an indicator of business activity in Chinas service sector, rose to an 11-month high of 52.7 in June. The reading, released on Tuesday after research by financial information service provider Markit sponsored by Caixin Media, was up from 51.2 in May and at its highest point since last July, when the index came in at 53.8. A reading above 50 indicates expansion, while a reading below 50 represents contraction. Service sector activity growth rebounded due to increased new work. The survey found new business orders rose to their highest level since last August. In terms of employment, service providers continued to adopt a cautious approach towards hiring staff, raising their workforce numbers only slightly for a third month in a row.

Hong Kong Stocks sink 1.46%

The Hong Kong stock market closed down, pressured by profit-taking, as worrying signs in Chinas service sector and as falls in major European stock markets overnight dampened investor sentiment. Trading was subdued with no directional clues from US markets, which were shut on Monday for the Independence Day holiday. The benchmark Hang Seng Index dropped 308.48 points, or 1.46%, to 20750.72 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 159.04 points, or 1.81%, to 8643.31. Turnover decreased to HK$53.6 billion from HK$68.7 billion on Monday.

Standard Life Investments has suspended trading in its UK property fund as investors have asked to withdraw their money following the EU referendum. The UK pound slid to 1.3161/64 against USD in early European trading.

Morgan Stanley said in a research report that the opening of Shanghai Disney theme park has hurt Macaus gaming spending. It also expects number of tourists to shrink. Galaxy Entertainment (00027) sank 3.6% to HK$22.55. Sands China (01928) declined 3.6% o HK$25.5.

The UK pounds slump also pressured HSBC (00005), which dipped 1.7% to HK$47.35. Standard Chartered (02888) dropped 1.8% to HK$57.7.

SHKP (00016) bucked the downtrend, rising 0.8% to HK$97.55 after it donated a plot of land to a religious organisation for building multi-purpose service center. CK Property (01113) fell 2% to HK$49.4 despite S&P Global revised its rating outlook to stable.

China COSCO (01919) soared 2.6% to HK$2.81 as its parent companys acquisition of a Greek port has entered settlement stage. COSCO Pacific (01199) also edged up 0.4% to HK$7.75.

Indian Market slides on weak global cues

Auto stocks and index heavyweight Infosys led losses for key benchmark indices triggered by weak global cues. The barometer index, the S&P BSE Sensex, lost 111.89 points or 0.41% to settle at 27,166.87. The Nifty 50 index shed 34.75 points or 0.42% to settle at 8,335.95. Data showing deceleration in growth in Indias services sector in June 2016 also weighed on sentiment, with the Sensex and the Nifty snapping a six-day winning streak.

Jaiprakash Associates rose a staggering 27.97% in a single trading session after the companys announcement that it has sold its cement plants spread across five states to UltraTech Cement for enterprise value of Rs 16189 crore. Engineering and construction major L&T eked out small gains after the companys announcement that its joint venture companies L&T-MHPS Boilers Private and L&T-MHPS Turbine Generators Private Limited have won export orders worth a combined $71.30 million. Shares of state-run coal mining giant Coal India gained after the company announced that a meeting of the board of directors of the company will be held on 11 July 2016 to consider a proposal of buyback of equity shares. Shares of IDBI Bank shrugged off reduction in lending rates based on marginal cost of funds. Ashok Leyland fell after a domestic brokerage reportedly downgraded the stock to sell, citing signs of demand moderation in commercial vehicles segment.

The outcome of a monthly survey showed that growth in Indias services sector decelerated in June 2016 due to a softer expansion in new work. The Nikkei India Services Business Activity Index dropped to 50.3 in June 2016 from 51 in May 2016. Anecdotal evidence suggested that strong competitive pressures restricted new business gains. A faster increase in input costs contrasted with a slowdown in charge inflation. According to respondents, activity growth over the coming year is set to be supported by aggressive marketing campaigns. Some panellists expressed concerns regarding competitive pressures.

Elsewhere in the Asia Pacific region: New Zealands NZX50 rose 0.43% to 6970.99. South Koreas KOSPI index declined 0.3% to 1989.85. Taiwans Taiex index slipped 0.5% to 8716.07. Malaysias KLCI fell 0.3% to 1650.71. Singapores Straits Times index slipped 0.21% to 2864.67.

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