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Japan Stock Market closed for public holiday
May 05,2016

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Asia Pacific Market: Stocks drop amid economy fears
May 04,2016

Asia Pacific share market declined on Wednesday, 04 May 2016, on renewed uncertainty about the global economic outlook and policy settings among the major jurisdictions after weaker manufacturing in China and a cut in the eurozones growth forecast.

The Caixin China general manufacturing purchasing managers index fell to 49.4 in April 2016 from 49.7 in March 2016. A reading below 50 indicates economic contraction. The data was released during trading hours in Asia yesterday, 3 May 2016. Chinas official manufacturing PMI, a competing gauge, came in at 50.1 in April 2016 compared with 50.2 in March 2016, according to data released by the National Bureau of Statistics on 1 May 2016. The Chinese economy is the worlds second biggest economy after the United States.

A surprise interest-rate cut by Australias central bank has added to global economic jitters. The Reserve Bank of Australia yesterday, 3 May 2016, cut its benchmark interest rate by 25 basis points to record low of 1.75% in a bid to combat record-low inflation and a strong local currency. The decision was announced during trading hours in Asia.

Among Asian bourses

Australia Market tumbles after unexpectedly low inflation data

Australian share market ended down, giving back most of yesterdays gains on tracking steep losses on the Wall Street overnight and unexpectedly low Australian inflation data. Selloff pressure intensified on doubt over growth sustainability in the world second largest economy after moderation in Chinas manufacturing activities. Most of ASX industry group advanced with shares in the metal & mining, energy, and consumer goods being major losers. At close of trade, the benchmark S&P/ASX 200 declined 82.70 points, or 1.54%, to 5271.10. The broader All Ordinaries sank 79.40 points, or 1.47%, to 5335.60.

Quarterly central bank data put the inflation rate in March - after stripping out volatile items - at 1.7%, down from 2.1% in December, while the Melbourne Institutes own gauge of inflation on Monday suggested price growth had eased to 1.5% in April from 1.7%.

Shares of metal mining companies were the biggest loser of the sectors of the ASX today, with BHP Billiton leading losses, down 9.4% to A$18.79 after the company told the market it is facing a massive compensation case over the Samarco mine disaster in Brazil. The company said federal prosecutors are seeking about A$57 billion in compensation. BHP spinoff South 32 also saw big losses, diving 10% to A$1.54. Rio Tinto had a bad day as well, losing 7.5% to A$47.85.

Energy stocks were also lower after crude oil pulled back last night. Benchmark U.S. crude oil lost 46 cents to trade at $44.32 a barrel in electronic trading on the New York Mercantile Exchange, while Brent, the international standard, fell 24 cents to $45.59 a barrel. Shares of Santos finished down 8.7% to A$4.20, Woodside Petroleum 5.3% to A$27.10, and Origin Energy 4.3% to A$5.08.

China Market ends softer

Mainland China stock market ended tad lower, as risk sentiments subdued on worries over the state of the domestic economy after weak manufacturing survey data. Most of the SSE sectors declined, with shares of materials and energy players being major losers. The benchmark Shanghai Composite Index declined 1.37 points, or 0.05%, to 2991.27. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, de-grew 4.08 points, or 0.13%, to 3209.46.

Shares of resource and energy companies declined on tracking tumbling oil prices combined with resurfacing global growth concerns. China Petroleum & Chemical Corp. and PetroChina Co. paced losses for energy companies.

The Chinese yuan deprecated against the dollar on Wednesday, after the Peoples Bank of China set the yuan fixing against the U.S. dollar at 6.4943 on Wednesday, down sharply by 0.59% over Tuesday, its biggest one-day drop since the one-off 1.86% devaluation move on August 11 last year. Wednesdays weaker fixing was largely due to the dollar indexs 0.51% gain overnight

Hong Kong Market falls 0.73%

The Hong Kong stock market finished the session lower, following the weaker tone of overseas markets, weighed by poor economic data from both China and Europe. The benchmark Hang Seng Index dropped 151.11 points, or 0.73%, to 20525.83 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, lost 51.33 points, or 0.59%, to 8697.37 points. Turnover reduced to HK$61.44 billion from HK$77.5 billion on Tuesday.

Shares of energy companies tanked after crude oil prices fell for the second consecutive trading day as crude output keeps rising. Benchmark U.S. crude oil lost 46 cents to trade at $44.32 a barrel in electronic trading on the New York Mercantile Exchange, while Brent, the international standard, fell 24 cents to $45.59 a barrel. CNOOC (00883) slid 3.3% to HK$9.12. PetroChina (00857) fell 1% to HK$5.57. Sinopec (00386) slipped 2.6% to HK$5.25.

CICC Research said the opening of Shanghai Disney theme park will benefit Chinese airlines the most. It expects full-year tourist visitations to reach 15 million. China East Air (00670) put on 7% to HK$4.49. Air China (00753) added 4% to HK$5.74. China South Air (01055) gained 5.8% to HK$5.08.

Senses falls on weak global lead

Indian stock market declined after data showing slowdown in growth in the services sector and weakness in global stocks. The barometer index, the S&P BSE Sensex, fell 127.97 points or 0.51% to settle at 25,101.73. The Nifty 50 index fell 40.45 points or 0.52% to settle at 7,706.55.

Metal and mining stocks edged lower in the wake of weaker-than-expected Chinese manufacturing data for April 2016. Shares of oil exploration and production (E&P) firms declined on lower crude oil prices. Index heavyweight and cigarette major ITC edged lower on reports that the Supreme Court today, 4 May 2016, told the tobacco industry to adhere to rules requiring stringent health warnings on cigarette packs. Index heavyweight and housing finance major HDFC edged higher, with the stock extending post-result gains. Yes Bank dropped after the private sector bank announced reduction in lending rate by 10 basis points across tenors.

Adani Ports and Special Economic Zone (APSEZ) fell 11.98% in a single trading session on equity dilution worries after the companys board of directors decided to seek shareholders approval to raise funds by way of issue of equity shares/convertible bonds up to Rs 10000 crore. Tata Motors tumbled after the company revised downward the rate of growth in sales volume for April 2016 from the figures announced previously.

Meanwhile, the outcome of a monthly survey showed that growth in Indias services sector eased last month due to a slower expansion in new business inflows. The seasonally adjusted Nikkei Services Business Activity Index dropped to 53.7 in April 2016 from 54.3 in March 2016. April data highlighted a general lack of pressure on the capacity of Indian service providers, as unfinished business declined. Services firms sentiment weakened slightly in April, with the degree of optimism being modest by historical standards.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was down 0.3% to 6824.50. South Koreas KOSPI index fell 0.5% to 1976.71. Taiwans Taiex index slid 1.3% to 8185.47. Malaysias KLCI gained 0.4% to 1657.58. Indonesias Jakarta Composite index added 0.2% to 4822.6. Singapores Straits Times index shed 1.4% to 2773.07. Japans stock market was closed in observance of public holiday.

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Hong Kong Market falls 0.73%
May 04,2016

The Hong Kong stock market finished the session lower on Wednesday, 04 May 2016, following the weaker tone of overseas markets, weighed by poor economic data from both China and Europe. The benchmark Hang Seng Index dropped 151.11 points, or 0.73%, to 20525.83 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, lost 51.33 points, or 0.59%, to 8697.37 points. Turnover reduced to HK$61.44 billion from HK$77.5 billion on Tuesday.

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China Market ends softer
May 04,2016

Mainland China stock market ended tad lower on Wednesday, 04 May 2016, as risk sentiments subdued on worries over the state of the domestic economy after weak manufacturing survey data. Most of the SSE sectors declined, with shares of materials and energy players being major losers. The benchmark Shanghai Composite Index declined 1.37 points, or 0.05%, to 2991.27. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, de-grew 4.08 points, or 0.13%, to 3209.46.

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Australia Market tumbles after unexpectedly low inflation data
May 04,2016

Australian share market ended down on Wednesday, 04 May 2016, giving back most of yesterdays gains on tracking steep losses on the Wall Street overnight and unexpectedly low Australian inflation data. Selloff pressure intensified on doubt over growth sustainability in the world second largest economy after moderation in Chinas manufacturing activities. Most of ASX industry group advanced with shares in the metal & mining, energy, and consumer goods being major losers. At close of trade, the benchmark S&P/ASX 200 declined 82.70 points, or 1.54%, to 5271.10. The broader All Ordinaries sank 79.40 points, or 1.47%, to 5335.60.

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Asia Pacific Market: Stocks closed on mixed note
May 03,2016

Asia Pacific share market ended mixed on Tuesday, 03 May 2016, as weaker than expected China private manufacturing data countered by unexpected interest rate cut decision by the Reserve Bank of Australia.

The RBA cut its benchmark rate by 25 basis points to a record low 1.75%, noting that inflation data are unexpectedly low and that it is less concerned by the risk low rates pose to the housing market. A majority of economists polled by Reuters had expected no change.

China manufacturing sector remained in contraction in April with a Performance of Manufacturing Index score of 49.4 and, the latest survey from Caixin revealed on Tuesday. That was down from 49.7 in March. It also moved further beneath the boom-or-bust line of 50 that separates expansion from contraction. Among the individual components of the survey, output was little-changed from the previous month, as total new orders stagnated and new export work fell for the fifth month in a row. On Sunday, official data showed that Chinas manufacturing activity grew in April, albeit at a slower pace than in March.

Among Asian bourses

Australia Market surges after RBA rate cut decision

Australian share market ended sharply higher on Tuesday, 03 May 2016, after the Reserve Bank of Australia Board decided to lower the cash rate by 25 basis points to 1.75%, effective 4 May 2016. Most of ASX industry group advanced with shares in the property trusts, financials, and realty sectors being major gainers. At close of trade, the benchmark S&P/ASX 200 advanced 110.80 points, or 2.11%, to 5353.80. The broader All Ordinaries rose 103 points, or 1.94%, to 5415.

The banks and financial ended stronger, with Westpac Banking Corp up 2.3% to A$30.65, National Australia Bank 3.8% to A$27.63, and Commonwealth Bank 3.7% to A$75.02. ANZ Banking Group was up 5.6% to A$25.05, erasing early losses of as much as 4%, despite the heavyweight bank reporting that its fiscal first-half profit tumbled more than 20%.

Energy stocks were the biggest loser of the sectors of the ASX today dropping 1.36% after crude oil pulled back last night. Shares of Santos finished down 2.5% to A$4.60, Woodside Petroleum 0.4% to A$28.63, and Origin Energy 1.9% to A$5.31.

China Market rebounds after President comments

Mainland China stock market ended higher in volatile trade, as risk sentiments encouraged by hopes of improvements in corporate fundamentals and President Xi Jinpings after-market hours call late last Friday to maintain a n++healthy development of the stock market. Mainland market largely shrugged off a disappointing survey on Chinas manufacturing sector. The benchmark Shanghai Composite Index advanced 54.32 points, or 1.85%, to 2992.64. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, grew 56.79 points, or 1.8%, to 3213.54.

Chinese investors draw solace from the fact that the first-quarter performance of China-listed companies did not tumble as many had feared, while the economy has shown signs of stabilising. Combined quarterly profits of 2,837 mainland-listed firms dipped only 0.45%, while 666 companies, including some struggling steelmakers, had forecast they would post earnings increases or turn to profit during the first half, the official China Securities Journal reported on Tuesday.

On Friday, President Xi Jinping chaired a Communist Partys Politburo meeting of Chinese leaders who urged n++strengthening market supervision and protecting investor interests,n++ according to a statement carried by official media.

Stocks rose across the board, with Chinese consumer staples, health care and IT stocks leading the charge. Shares of NanJing Pharmaceutical Co jumped 7.6%. Chinese alcohol makers led the consumer staples index rally, with prices of Wuliangye Yibin Co, Shanxi Fenjiu and Kouzi Distillery surging.

Hong Kong Market suffers 1.85% loses

The Hong Kong stock market finished the session sharply lower, dragged by the weaker than expected Chinas manufacturing PMI data and amid worries about the ability of global central banks to boost growth through aggressive policy easing. The benchmark Hang Seng Index dropped 390.11 points, or 1.85%, to 20676.94 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, lost 190.77 points, or 2.13%, to 8748.70 points. Turnover increased to HK$77.5 billion from HK$60.4 billion on Friday. The local market closed on Monday for a public holiday.

HSBC (00005) fell 1% to HK$51.5 after it reported 1Q pre-tax earnings fell 13.5% to US$6.11 billion. Hang Seng Bank (00011) slipped 1% to HK$139.

PICC P&C (02328) slid 6% to HK$13.36 after AIG Group disposed of 740 million shares worth of HK$9.7 billion. PICC Group (01339) also dipped 2% to HK$2.99.

Sensex falls for the second day in a row

IT, banking sector stocks, shares of public sector companies and index heavyweights ITC and Reliance Industries led losses for key benchmark indices triggered by weakness in global stocks. The barometer index, the S&P BSE Sensex, fell 207.27 points or 0.81% to settle at 25,229.70. The Nifty 50 index fell 58.90 points or 0.75% to settle at 7,747.

State Bank of India (SBI) dropped after the bank announced reduction in lending rates by 5 basis points (bps) across tenures. Coal India edged lower as the companys coal production and offtake in April 2016 fell short of the companys internal target. Shares of public sector oil marketing companies (PSU OMCs) declined after the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas announced that the under-recoveries for the month of May 2016 on PDS Kerosene in Mumbai is expected to increase to Rs 9.12 per litre from Rs 8.73 per litre in April 2016. Tata Steel eked out small gains on reports that the global metals group Liberty House will today, 3 May 2016, submit an indicative bid to buy Tata Steels UK assets. Aurobindo Pharma surged on reports that a foreign brokerage has initiated coverage on the Aurobindo Pharma stock with an outperform rating. In overseas stock markets, European shares edged lower as the euro hit a roughly nine-month high against the dollar. Euro strength makes goods from European exporters more expensive to buy for holders of other currencies. Trading in US stock index futures pointed to losses for US stocks at the opening bell. Trading in US index futures indicated that the Dow Jones Industrial Average could slide 109.50 points at the opening bell today, 3 May 2016. Meanwhile, the San Francisco Federal Reserve President John Williams reiterated yesterday, 2 May 2016, his view that the US economy is ready for higher interest rates, but flagged the risk of broad-based declines in asset prices as a result.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was up 0.8% to 6843.01. South Koreas KOSPI index grew 0.42% to 1986.41. Taiwans Taiex index slid 1% to 8294.12. Malaysias KLCI dropped 1.3% to 1651.44. Indonesias Jakarta Composite index added 0.1% to 4812.26. Singapores Straits Times index shed 1% to 2811.20. Japans stock market was closed in observance of public holiday.

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China Market rebounds after President verbal support
May 03,2016

Mainland China stock market ended higher in volatile trade on Tuesday, 3 May 2016, as risk sentiments encouraged by hopes of improvements in corporate fundamentals and President Xi Jinpings after-market hours call late last Friday to maintain a n++healthy development of the stock market. Mainland market largely shrugged off a disappointing survey on Chinas manufacturing sector. The benchmark Shanghai Composite Index advanced 54.32 points, or 1.85%, to 2992.64. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, grew 56.79 points, or 1.8%, to 3213.54.

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Hong Kong Market suffers 1.85% loses
May 03,2016

The Hong Kong stock market finished the session sharply lower on Monday, 3 May 2016, dragged by the weaker than expected Chinas manufacturing PMI data and amid worries about the ability of global central banks to boost growth through aggressive policy easing. The benchmark Hang Seng Index dropped 390.11 points, or 1.85%, to 20676.94 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, lost 190.77 points, or 2.13%, to 8748.70 points. Turnover increased to HK$77.5 billion from HK$60.4 billion on Friday. The local market closed on Monday for a public holiday.

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Australia Market surges after RBA rate cut decision
May 03,2016

Australian share market ended sharply higher on Tuesday, 03 May 2016, after the Reserve Bank of Australia Board decided to lower the cash rate by 25 basis points to 1.75 per cent, effective 4 May 2016. Most of ASX industry group advanced with shares in the property trusts, financials, and realty sectors being major gainers. At close of trade, the benchmark S&P/ASX 200 advanced 110.80 points, or 2.11%, to 5353.80. The broader All Ordinaries rose 103 points, or 1.94%, to 5415.

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Asia Pacific Market: Stocks fall on weak global
May 02,2016

Asia Pacific share market closed down on Monday, 02 May 2016, as sentiments were weighed down by weak lead from Wall Street overnight, disappointment on Chinas PMI data, and retreat in oil prices.

Activity in Chinas manufacturing sector expanded for the second month in a row in April but only marginally, an official survey showed on Sunday, raising doubts about the sustainability of a recent pick-up in the worlds second-largest economy. The purchasing managers index (PMI) came in at 50.1 in April, down from Marchs 50.2 and barely above the 50-point line that separates expansion from contraction, the National Bureau of Statistics and China Federation of Logistics and Purchasing said in a report. A sub-index measuring production for April fell 0.1 points month on month to 52.2, though improved on the 51.3 recorded for the first quarter, the report said. Meanwhile, activity in Chinas non-manufacturing sector remained strong, though grew at a slightly slower pace in April, falling 0.3 points from March to 53.5, the report said.

Among Asian bourses

Australia Market ends softer ahead of RBA rate decision

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

The banks and financial were down, with Westpac Banking Corp down 3.5% to A$29.95, after the lender said cash earnings growth was lower due to higher impairment charges. Meanwhile, ANZ Banking Group declined 2.2% to A$23.73, National Australia Bank 2.1% to A$26.63, and Commonwealth Bank 2.1% to A$72.34 ahead of earnings reports.

Shares of energy plays were mixed as crude oil prices retreated during Asian hours, with U.S. crude futures down 0.7% to $45.60 a barrel, while Brent futures dropped 1% to $46.91. Shares of Santos finished down 1.67 percent to A$4.72, while Woodside Petroleum was up 1.4% to A$28.74.

Shares of Virgin Australia gave up gains to close down 5.71 percent, following the companys announcement that it will cut capacity by 5.1 percent in the fiscal fourth quarter, citing uncertainties around the upcoming Federal election, weak consumer demand and the downturn in the resources sector.

Nikkei tumble 3.1%

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

Major Japanese exporters sold off sharply, with shares of Toyota closing down 3.75 percent, Nissan down 4.95 percent and Honda off 3.98 percent in the wake of a stronger yen, which is usually negative for exporters as it makes their products less competitive overseas and decreases their overseas profits when converted back into the Japanese currency. Sony Corp shares dropped 4% after the company reported a loss of 88.3 billion yen for the fiscal fourth quarter on Thursday after the market close. Airbag maker Takata saw its shares tumble 9.25 percent after Reuters reported more than 100 million vehicles globally are likely to be subject to recalls over the companys problematic airbag inflators.

Electronics parts maker Murata Manufacturing Co. lost 13% following its projections for a decline in earnings in the fiscal year that started in April. The company cited a higher yen, lower product selling prices, increased fixed costs and higher research and development expenses.

Sensex, Nifty hit lowest closing level in almost 3 weeks

Stocks of public sector banks and index heavyweights HDFC Bank, ITC and Infosys led losses for key benchmark indices on the first trading session of the week. The barometer index, the S&P BSE Sensex, fell 169.65 points or 0.66% to settle at 25,436.97. The Nifty fell 43.90 points or 0.56% to settle at 7,805.90. Data showing slowdown in growth in manufacturing sector in April 2016 and weakness in Japanese stocks weighed on the domestic bourses.

Meanwhile, Minister of State for finance Jayant Sinha said in a written reply to a question in Lok Sabha on 29 April 2016 that the government is committed to implement General Anti Avoidance Rule (GAAR) in the country from 1 April 2017. He further said that the government will constitute a panel as mandated by the law and also provide for the guidelines on practical aspects relating to implementation of GAAR in due course.

Maruti Suzuki India edged higher after the company reported modest growth in sales volumes for the month just gone by. ICICI Bank edged lower on reports that a foreign brokerage has cut its earnings estimates for the private sector bank by 15% to 16% for FY 2017 and FY 2018. Federal Bank reversed intraday losses after an unnamed executive of the Kerala based private sector bank was quoted as saying that he expects addition to bad loans for the bank to be lower in FY 2017 compared with FY 2016. InterGlobe Aviation edged lower after announcing muted growth in Q4 earnings.

Elsewhere in the Asia Pacific region: New Zealands NZX50 lost 0.4% to 6791.82. South Koreas KOSPI index shed 0.8% to 1978.15. Indonesias Jakarta Composite index shed 0.6% to 4808.32. Markets in China, Hong Kong, Taiwan, Singapore and Malaysia are closed for a public holiday.

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China, Hong Kong, Taiwan, Singapore and Malaysia markets closed for holiday
May 02,2016

Markets in China, Hong Kong, Taiwan, Singapore and Malaysia are closed on Monday, 2 May 2016, for a public holiday.

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

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

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Nikkei tumble 3.1%
May 02,2016

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

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

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

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

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

Among Asian bourses

Australia Market ends 0.51% up on resources rally

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

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

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

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

China Market falls to fresh 1-month low

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

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

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

Hong Kong Market suffers steepest loss in three weeks

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

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

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

Sensex, Nifty hit lowest level in more than two weeks

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

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

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

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

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

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

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