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Asia Pacific Market: Stocks close mostly higher
Nov 18,2016

Asia Pacific share market finished mostly higher on last trading session of the week, Friday, 18 November 2016, on tracking strong rally on Wall Street overnight after Federal Reserve Chair Janet Yellens hawkish comments.

The regional share market tracked a positive finish among major U.S indexes on Thursday on the back of remarks from Fed Chair Janet Yellen and upbeat economic data. The Dow Jones industrial average rose 35.68 points, or 0.19%, to close at 18,903.82. The S&P 500 gained 10.18 points, or 0.47%, to end at 2,187.12, while the Nasdaq composite advanced 39.39 points, or 0.74%, to 5,333.97.

U.S. economic data showed housing starts soared more than 25% in October stateside, while weekly jobless claims dropped to their lowest level since November 1973. In October, the consumer price index rose 0.4%, which was in line with expectations.

Yellen has stressed the importance of central bank independence in her first public remarks after Donald Trumps election victory as new data showed the president-elect will inherit a strengthening economy. The Federal Reserve chair told a congressional hearing yesterday, 17 November 2016 that an increase in short-term interest rates could n++become appropriate relatively soonn++, raising expectations of a rise at the Feds next meeting in December.

She added she would not step down from her position as the head of the Federal Reserve until the end of her term. Her comments pushed the dollar higher, with the dollar index, which measures the greenback against a basket of currencies, reaching a session high of 101.32.

Among Asian bourses

Australia Stocks end higher

Australian share market ended higher, on the back of strong rally on Wall Street overnight after Federal Reserve Chair Janet Yellens hawkish comments. At the closing bell, the benchmark S&P/ASX 200 index rose 20.90 points, or 0.39%, to 5,359.40, while the broader All Ordinaries index increased 18.60 points, or 0.34%, to 5,427.50.

Financial stocks led gainers with Commonwealth Bank of Australia and Westpac Banking Corp, tacking on around 0.3%.

Telecom stocks rallied as Telstra Corp rose 1.9%, bringing the weeks gains to 4.5%, as investors reacted positively to news of big cost cuts over the next five years.

Myer Holdings shares jumped as much as 10.6% as the retail giant flagged a return to profit in 2017 financial year after net income fell for the past six financial years.

Nikkei closes at 10-month high

The Japan share market closed at its highest level in more than 10 months, as risk appetite buying fuelled yen depreciation to 110 level against greenback on hopes for an interest rate hike by the U.S. Federal Reserve, after Fed Chair Janet Yellen firmly hinted at the possibility of a hike in December. The headline Nikkei 225 gained 0.59%, or 104.78 points, to end at 17,967.41, a whisker below the psychologically key 18,000 mark and its best level since early January. The broader Topix index of all first-section issues was up 0.38%, or 5.38 points, at 1,428.46.

Shares of export-oriented firms attracted buying on expectations for better earnings after dollars jump above 110 yen against greenback, as many export-oriented Japanese firms set their assumed dollar rates at 100-105 yen. Among them were automakers Toyota, Honda and Mazda, as well as technologies Sony and Hitachi. Shipping firms Nippon Yusen, Kawasaki Kisen and Mitsui O.S.K. Lines advanced, after the Baltic Dry Index for shipping costs climbed for 11 sessions in a row. By contrast, megabank groups and insurers met with apparent profit-taking after the recent surge. They included Mitsubishi UFJ, Sumitomo Mitsui, Dai-ichi Life and Tokio Marine. Among other losers were drug manufacturer Astellas, mobile carrier NTT Docomo and retailer Seven & i Holdings.

China Stocks fall on capital outflow woes, stronger dollar

Mainland China stock market closed down for second straight session, on funds outflow worries after US Federal Reserve Chair Janet Yellen said the Fed could raise interest rates as soon as next month, which is expected to make emerging markets less attractive. Market heavyweights and financial stocks were hit worst, dragging down overall performance. The benchmark Shanghai Composite Index fell 0.5% to close at 3,192.86 points. The CSI 300 index closed 0.56% down at 3,417.46 points.

A strong US dollar and worries over capital outflows also curbed investor appetites. With the dollar index still hovering near a 13-1/2 year high against a basket of currencies, there are persistent fears of yuan depreciation, as global investors continue to bet US President-elect Donald Trumps policies will result in higher inflation and stronger US economic growth.

Shanghais property sub-index outperformed the broader market, following government data that showed average new home prices in Chinas 70 major cities rose 12.3% on-year in October, a faster pace than the 11.2% on-year rise in September. Among Property plays, with Shenzhen-listed shares of Vanke up 3.9% and Poly Real Estate climbing 1.83%, while Gemdale erased early gains to trade down 0.73%.

Hong Kong Stocks close up

The Hong Kong stock market closed up, buoyed by Wall Street rally overnight on rising expectations of a US rate hike next month Market talks indicated slim chances of the Shenzhen-HK Connect program launch on 21 November, and it may be delayed to December. The Hang Seng Index ended up 0.37%, or 81.33 points, to 22,344.21 and the Hang Seng China Enterprises index added 0.24%, or 22.77 points, to 9,349.31. Turnover decreased to HK$55.9 billion from HK$62.3 billion on Thursday.

Chairman of China Tower Corporation Liu Aili said he aims at an IPO by end-2017. China Mobile (00941) edged down 0.2% to HK$84.6. China Telecom (00728) gained 0.6% to HK$3.65. China Unicom (00762) put on 3.9% to HK$9.07.

CKH Holdings (00001) climbed 1.4% to HK$94.9. The company yesterday bought back its own shares by HK$72.7 million. It was the first time of buyback since its restructuring. CK Property (01113) inched down 0.3% to HK$50.75.

AAC Tech (02018) jumped 2.5% to HK$73.85 after the company expects its non-acoustic business revenues to exceed acoustics in 2017. Sunny Optical (02382) shot up 5.8% to HK$41.25.

Evergande (03333) added stake in China Vanke (02202) again. China Vanke soared 3.2% to HK$21.95, while Evergrande edged up 0.4% to HK$5.3.

Sensex extends recent losing streak

Metal sector stocks and index heavyweights ITC, HDFC Bank and Infosys led small losses for key benchmark indices. The barometer index, the S&P BSE Sensex lost 77.38 points or 0.3% to settle at 26,150.24. The Nifty fell 5.85 points or 0.07% to settle at 8,074.10. The Sensex, and the Nifty, hit their lowest closing level in more than 5-1/2-months.

Stocks of public sector banks edged higher. Stocks of private sector banks were mixed. Index heavyweight Reliance Industries (RIL) nudged higher after the company announced the signing of a global partnership agreement in the Industrial IOT (IIOT) space whereby RIL and GE will work together to build out joint applications on GEs Predix platform.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 0.6% to 6857.84. Indonesias Jakarta Composite index fell 0.4% to 5170.11. Taiwans Taiex added 0.2% to 9008.79. South Koreas KOSPI index declined 0.3% to 1974.58. Malaysias KLCI was down 0.2% to 1623.80. Singapores Straits Times index rose 0.9% to 2838.65.

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Hong Kong Stocks close up
Nov 18,2016

The Hong Kong stock market closed up on Friday, 18 November 2016, buoyed by Wall Street rally overnight on rising expectations of a US rate hike next month Market talks indicated slim chances of the Shenzhen-HK Connect program launch on 21 November, and it may be delayed to December. The Hang Seng Index ended up 0.37%, or 81.33 points, to 22,344.21 and the Hang Seng China Enterprises index added 0.24%, or 22.77 points, to 9,349.31. Turnover decreased to HK$55.9 billion from HK$62.3 billion on Thursday.

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Hong Kong Stocks close up
Nov 18,2016

The Hong Kong stock market closed up on Friday, 18 November 2016, buoyed by Wall Street rally overnight on rising expectations of a US rate hike next month Market talks indicated slim chances of the Shenzhen-HK Connect program launch on 21 November, and it may be delayed to December. The Hang Seng Index ended up 0.37%, or 81.33 points, to 22,344.21 and the Hang Seng China Enterprises index added 0.24%, or 22.77 points, to 9,349.31. Turnover decreased to HK$55.9 billion from HK$62.3 billion on Thursday.

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Nikkei closes at 10-month high
Nov 18,2016

The Japan share market closed at its highest level in more than 10 months on Friday, 18 November 2016, as risk appetite buying fuelled yen depreciation to 110 level against greenback on hopes for an interest rate hike by the U.S. Federal Reserve, after Fed Chair Janet Yellen firmly hinted at the possibility of a hike in December. The headline Nikkei 225 gained 0.59%, or 104.78 points, to end at 17,967.41, a whisker below the psychologically key 18,000 mark and its best level since early January. The broader Topix index of all first-section issues was up 0.38%, or 5.38 points, at 1,428.46.

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Nikkei closes at 10-month high
Nov 18,2016

The Japan share market closed at its highest level in more than 10 months on Friday, 18 November 2016, as risk appetite buying fuelled yen depreciation to 110 level against greenback on hopes for an interest rate hike by the U.S. Federal Reserve, after Fed Chair Janet Yellen firmly hinted at the possibility of a hike in December. The headline Nikkei 225 gained 0.59%, or 104.78 points, to end at 17,967.41, a whisker below the psychologically key 18,000 mark and its best level since early January. The broader Topix index of all first-section issues was up 0.38%, or 5.38 points, at 1,428.46.

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Australia Stocks end higher
Nov 18,2016

Australian share market ended higher on Friday, 18 November 2016, on the back of strong rally on Wall Street overnight after Federal Reserve Chair Janet Yellens hawkish comments. At the closing bell, the benchmark S&P/ASX 200 index rose 20.90 points, or 0.39%, to 5,359.40, while the broader All Ordinaries index increased 18.60 points, or 0.34%, to 5,427.50.

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Asia Pacific Market: Stocks end mixed
Nov 17,2016

Asia Pacific share market closed mixed on Thursday, 17 November 2016, pausing for breath, as the US dollar hovered near 14-year highs and on caution ahead of inflation, jobs and exports data expected from the U.S. and testimony from Federal Reserve Chairwoman Janet Yellen on the economic outlook to Congress later in the day.

Later in the U.S. on Thursday, data on October consumer prices, weekly jobless claims and export sales are due. But the market will be focused on congressional testimony from Ms. Yellen. New York Fed President William Dudley and Fed Board Governor Lael Brainard will also be speaking at public events.

The US dollar hovered near 14-year highs, boosted by rising U.S. bond yields. The ICE Dollar Index, which tracks the greenback against a basket of six currencies, rose to 100.57 earlier in the session, its highest level since April 2003. It was last trading 0.2% down at 100.23.

Among Asian bourses

Australia Stocks end tad higher

Australian share market ended marginally higher, as gains in telecom, utilities, realty, and healthcare stocks were more than offset fall in bullion, energy, and financial players. At the closing bell, the benchmark S&P/ASX 200 index rose 10.80 points, or 0.2%, to 5,338.50, while the broader All Ordinaries index increased 9.30 points, or 0.17%, to 5,408.90.

Telecom sector was biggest gainer of the ASX sectoral group, led by Telstra, rising 2.8% to A$4.84, after the telecommunications giant said it expects a A$1 billion reduction in core fixed costs by fiscal year 2021. The healthcare and utilities sectors also advanced. CSL and Scentre Group were up 1.9% and 1.2% respectively.

Shares of energy companies declined as global oil prices eased overnight and in early Asian trade. Santos dropped 1.3% to A$3.95, while Woodside Petroleum advanced 0.8% to A$29.27 and Origin Energy added 2.6% to A$5.64.

James Hardie was up 4.5% to A$20.40 despite the building products company posting a 24% fall in half year profit to $US144.1 million.

OFX, the former OZForex, was up 6.5% to A$1.54, making up lost ground from yesterday when the currency transfer group posted a 14% fall in net profit to A$9.66 million for the six months to September.

Nikkei closes flat

The Japan share market closed steady after recovering from an early falls, as a rally fuelled by a weaker yen lost steam. Stocks met with selling to lock in profits at the beginning of Thursdays trading after the 30-issue Dow Jones industrial average snapped its seven session winning streak on Wednesday. In particular, financial issues and export-oriented names took a beating, as investors grew worry after the two sectors led the recent market surge. But the Nikkei average turned higher in midmorning trading, as the dollar retook 109 yen after the Bank of Japan offered to buy Japanese government bonds at designated yields for the first time since it introduced the fixed-rate JGB buying operation in September. In the afternoon, the key market gauge fluctuated around the previous days closing level, with its downside supported by the dollars stable moves around 109 yen. The benchmark Nikkei 225 index gained 0.42 point to 17,862.63, the best level since early February, while the broader Topix index of all first-section issues was up 0.1%, or 1.43 points, at 1,423.08.

Domestic demand-oriented issues, such as daily goods maker Kao, Nippon Telegraph and Telephone and railway operator JR East, were buoyant. Other major winners included mobile phone carrier SoftBank Group, airline ANA, game producer Nintendo and oil company Inpex. By contrast, mega-banks Mitsubishi UFJ, Mizuho and Sumitomo Mitsui, insurer Dai-ichi Life and brokerage firm Nomura were downbeat.

China Stocks edge up

Mainland China stock market closed edge higher, snapping a two-session losing streak, as gains for big-cap infrastructure stocks offset a weak resources sector. But gains were capped on concerns over strength in the U.S. dollar and worries over capital outflows. The benchmark Shanghai Composite Index added 0.1% to close at 3,208.45 points. The CSI 300 index closed 0.2% higher at 3,436.54 points.

A strong US dollar and worries over capital outflows also curbed investor appetites. With the dollar index still hovering near a 13-1/2 year high against a basket of currencies, there are persistent fears of yuan depreciation, as global investors continue to bet US President-elect Donald Trumps policies will result in higher inflation and stronger US economic growth.

Shares in infrastructure companies and those related to the Belt and Road initiative picked up. Metallurgical Corp of China jumped the daily cap of 10%, and Power Construction Corp of China was up more than 4%.

Gree Electric Appliances, Chinas largest air conditioner manufacturer, gained 2% after the company scrapped plans to acquire a lithium battery producer.

Hong Kong Stocks close lower

The Hong Kong stock market closed a shade down, as stocks met with selling after the 30-issue Dow Jones industrial average snapped its seven session winning streak on Wednesday. The Hang Seng Index ended down 0.08%, or 17.65 points, to 22,262.88 and the Hang Seng China Enterprises index lost 0.38%, or 36 points, to 9,326.54. Turnover increased slightly to HK$62.3 billion from HK$65.9 billion on Wednesday.

Macau gaming counters rose. Galaxy Entertainment (00027) and Sands China (01928) surged 4.3% and 5.2% to HK$34.95 and HK$36.35. Melco International (00200) rose 2.6% to HK$11.08. S&P Global Ratings yesterday forecast Macaus gaming revenue will be flat to 10% higher in 2017.

Shipping counters were higher as Baltic Dry Index (BDI) jumped again. Pacific Basin Shipping (02343) surged 3.9% to HK$1.35. China Shipping Container Lines (02866) jumped 4% to HK$1.77. China COSCO Holdings (01919) soared 6.5% to HK$3.12. Singamas Container (00716) shot up 6.8% to HK$0.94.

Tencent (00700) slipped 1% to HK$194.8 after the internet giant reported its 9-month earnings growth of 41%, with 3Qs growth of 43%. Research houses were mixed on its report.

Sensex slides over 4% in four sessions

Telecom, IT sector stocks and index heavyweight HDFC Bank led small losses for key benchmark indices in a volatile trading session. The barometer index, the S&P BSE Sensex, fell 71.07 points or 0.27% to settle at 26,227.62. The Nifty 50 index fell 31.65 points or 0.39% to settle at 8,079.95.

Bharti Airtel fell 4.26% to Rs 296.35. The company announced the completion of the merger of its subsidiary Airtel Bangladesh with Robi Axiata, a unit ofAxiata Group Berhad. The merger was completed following the fulfilment of the condition precedents to the agreement and filing of the merger order with the registrar of joint stock companies and firms of Bangladesh Court. Post the merger, Axiata will hold 68.7% stake in the combined entity, while Airtel will hold 25%. The remaining 6.3% stake will be held by NTT DoCoMo.

Reliance Communications (RCom) fell 0.26% to Rs 38.40. RCom, through its wholly-owned subsidiary Reliance Globalcom Services Inc, acquired a newly incorporated company named Onyx NewCo LLC (ONL), a Delaware Registered Company, on 15 November 2016. Delaware is a state located in the United States. ONL will be a telecommunications company, which is yet to commence its business operations.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 0.6% to 6856.18. Indonesias Jakarta Composite index rose 0.15% to 5193. Taiwans Taiex added 0.4% to 8995.26. South Koreas KOSPI index declined 0.5% to 1970.74. Malaysias KLCI was down 0.1% to 1626.77. Singapores Straits Times index rose 0.7% to 2813.48.

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Hong Kong Stocks close lower
Nov 17,2016

The Hong Kong stock market closed a shade down on Thursday, 17 November 2016, as stocks met with selling after the 30-issue Dow Jones industrial average snapped its seven session winning streak on Wednesday. The Hang Seng Index ended down 0.08%, or 17.65 points, to 22,262.88 and the Hang Seng China Enterprises index lost 0.38%, or 36 points, to 9,326.54. Turnover increased slightly to HK$62.3 billion from HK$65.9 billion on Wednesday.

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China Stocks edge up
Nov 17,2016

Mainland China stock market closed edge higher on Thursday, 17 November 2016, snapping a two-session losing streak, as gains for big-cap infrastructure stocks offset a weak resources sector. But gains were capped on concerns over strength in the U.S. dollar and worries over capital outflows. The benchmark Shanghai Composite Index added 0.1% to close at 3,208.45 points. The CSI 300 index closed 0.2% higher at 3,436.54 points.

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Nikkei closes flat
Nov 17,2016

The Japan share market closed steady after recovering from an early fall on Thursday, 17 November 2016, as a rally fuelled by a weaker yen lost steam. Stocks met with selling to lock in profits at the beginning of Thursdays trading after the 30-issue Dow Jones industrial average snapped its seven session winning streak on Wednesday. In particular, financial issues and export-oriented names took a beating, as investors grew wary after the two sectors led the recent market surge. But the Nikkei average turned higher in midmorning trading, as the dollar retook 109 yen after the Bank of Japan offered to buy Japanese government bonds at designated yields for the first time since it introduced the fixed-rate JGB buying operation in September. In the afternoon, the key market gauge fluctuated around the previous days closing level, with its downside supported by the dollars stable moves around 109 yen. The benchmark Nikkei 225 index gained 0.42 point to 17,862.63, the best level since early February, while the broader Topix index of all first-section issues was up 0.1%, or 1.43 points, at 1,423.08.

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Australia Stocks end tad higher
Nov 17,2016

Australian share market ended marginally higher on Thursday, 17 November 2016, as gains in telecom, utilities, realty, and healthcare stocks were more than offset fall in bullion, energy, and financial players. At the closing bell, the benchmark S&P/ASX 200 index rose 10.80 points, or 0.2%, to 5,338.50, while the broader All Ordinaries index increased 9.30 points, or 0.17%, to 5,408.90.

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Asia Pacific Market: Stocks on back foot
Nov 15,2016

Asia Pacific share market closed mostly down on Tuesday, 15 November 2016, despite record high close of Wall Street overnight, amid growing concerns of a Federal Reserve rate hike in December.

Market participants were worries that the recently elected US president Donald Trumps policies stance - from protectionism and fiscal expansion - will boost inflation and lead the Federal Reserve to raise interest rates more than expected weighed on sentiment. US bond yields surged and investors fear that a higher interest rates in the US will spark capital outflows from the emerging equity markets.

The US dollar scaled an eleven-month peak on Tuesday and Treasury yields extended their rise as investors braced for higher inflation in the United States amid expectations of fiscally expansionary polices under Donald Trumps presidency. The risks of faster-than-expected Federal Reserve rate increases have dragged on emerging market assets, particularly equities and currencies, which have benefited from large capital inflows.

Among Asian bourses

Australia Stocks end just a shade lower

Australian share market finished session just a shade lower, recouping some early losses after positive remarks on the economy from the Reserve Bank of Australia offset risk aversion. In the minutes of its November policy meeting, Australias central bank said it expects core inflation to pick up gradually amid surging prices for key commodity exports and an economy running near potential, implying it might be done cutting interest rates this cycle. The ASX sectors closed mixed, with materials and healthcare issues underperformed other sectors, offsetting gains in energy sector. At the closing bell, the benchmark S&P/ASX 200 index declined 19.50 points, or 0.36%, to 5,326.20, while the broader All Ordinaries index decreased 20.50 points, or 0.38%, to 5,399.80.

Shares of materials sector, which includes mining stocks, declined after iron ore futures in Asia saw a sharp drop on Tuesday. BHP Billiton lost 1.1%. South 32 Ltd and Fortescue Metals followed its lead. Rio Tinto, the worlds second largest miner, settled 0.8% lower after it said it was cautiously optimistic about the current copper market, which has strengthened in recent weeks.

The healthcare sector was the worst performer on the index, with its biggest stocks CSL Ltd and Ramsay Health Care losing 1.1% and 2.1%, respectively.

The financial index remained under pressure on subdued outlook for the Big Four banks, which continued to underperform. Westpac Banking Corp and Australia and New Zealand Banking Group, which traded ex-dividend on Monday, lost about 1% each.

Japan Stocks closed mixed

The Japan share market ended edge below neutral line, with investors locking in profits after the benchmark gauge ended the previous day at a nine-month high. 21 out of 33 TSE industry categories closed in positive territory, led by Banks, Warehousing & Harbor Transportation Services, Pharmaceutical, and Mining stocks, while Pulp & Paper, Marine Transportation, and Transportation stocks were notable losers. The 225-issue Nikkei Stock Average fell 4.47 points, or 0.03%, to 17,668.15, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange jumped 2.98 points, or 0.21%, to end at 1,402.98.

The Nikkei has soared more than 8% since Wednesdays hammering, which came in the immediate aftermath of Donald Trumps shock victory in the US presidential election. The gains have come on the back of a surge in the dollar against the yen -- lifting exporters -- as dealers bet Trumps planned stimulus and tax cuts will fan inflation and force the Federal Reserve to hike interest rates more than expected. A day after hitting a five-month high of 108.54 yen, the greenback dipped back slightly in Asia to 108.13 yen. With the yen recovering from its five-month low, investors appear to be moving to pocket profits.

Ad agency Dentsu tumbled 7.4% after its third-quarter results missed expectations, while Sony sank 2.3% and mobile giant SoftBank was 0.6% lower. However, Honda was up 0.4% and Toyota gained 0.4%. Mitsubishi UFJ Financial Group jumped 4.3% after the megabank announced a share buyback.

China Stocks slip on profit booking

Mainland China stock market closed down, snapping a three-day winning streak, as investors took profits in resource stocks after a slump in the countrys commodity futures market. Sectors were mixed, with materials and infrastructures lost ground, while gains were seen in properties and consumers. The benchmark Shanghai Composite Index declined 0.11% to close at 3,206.99 points. The CSI 300 index closed marginal 0.01% down at 3,429.87 points.

The most active coke and coking coal futures in Dalian Commodity Exchange tumbled more than 7%, on track for the biggest one-day%age losses since their launch. The selloff spilled over into wider commodities, dragging down rebar, zinc and copper prices, causing a drop in heavyweight resources stocks. Also curbing risk appetite was a weaker yuan, whose further depreciation could unnerve investors despite the boost it could give exports.

Hong Kong Stocks rebound from 3-month low

The Hong Kong stock market closed higher for the first time last three sessions, as the US dollar retreated from recent highs and the Shenzhen Hong Kong Stock Connect prepared for its debut. Market gains were led by strong performances from health and personal care stocks, and insurance stocks. The Hang Seng Index ended the day up 0.46% or 101.69 points at 22,323.91 while the Hang Seng China Enterprises Index jumped 0.59% or 55.23 points to 9,398.10. Turnover decreased to HK$69.5 billion from HK$80.7 billion on Monday.

The Shenzhen Stock Exchange announced it will carry out its fifth system test on Saturday. The test paves the way for the official launch of the highly anticipated stock connect trading mechanism.

Financials stocks ended stronger, led by banking counters on hopes it will benefit from potential rate hike in the US as investors expect Donald Trump will develop infrastructure and push up inflation. Hang Seng Bank (00011) gained 2% to HK$146.5. Bank of East Asia (00023) put on 1.8% to HK$31.7. HSBC (00005) rose 1.6% to HK$61.6. Standard Chartered (02888) dipped 0.5% to HK$61.2. BOCHK (02388) added 0.9% to HK$28.3. China Life Insurance added 2.06% to HK$19.8 and PICC Property and Casualty gained 2.53% to HK$12.14. But restrictions on mainlanders using UnionPay to buy insurance investment products in Hong Kong continued to weigh on AIA Group, dragging it to its lowest level since July, as its stock lost 1.26% to HK$47.20.

Resources counters met profit-taking after last weeks rally. China Shenhua (01088) slipped 3% to HK$16.48. China Coal (01898) dipped 3.2% to HK$4.24. Yanzhou Coal (01171) softened 3% to HK$5.82. Maanshan Iron & Steel (00323) sank 4.9% to HK$1.93. Angang Steel (00347) plunged 6.4% to HK$4.26. Metallurgical Corporation of China (01618) fell 3.8% to HK$2.56.

Dairy counters soared on rising raw milk prices as investors worried that quakes in New Zealand will affect the supply of raw milk. China Modern Dairy (01117) surged 8.8% to HK$1.97. Biostime International (01112) added 3% to HK$22.65. China Mengniu Dairy (02319) softened 0.7% to HK$15.04.

Sensex slides

Indian benchmark indices settled with heavy losses, extending the sharp sell off witnessed in the previous session. The barometer index, the S&P BSE Sensex, fell 514.19 points or 1.92% to settle at 26,304.63. The Nifty fell 187.85 points or 2.26% to settle at 8,108.45.

The recent selling by the foreign portfolio investors (FPIs) of Indian stocks also affected sentiment. FPIs sold shares worth a net Rs 1493.27 crore on Friday, 11 November 2016, as per provisional data released by the stock exchanges, when indices slumped around 2.5% on that day. The market remained closed on Monday, 14 November 2016, on account of holiday.

Bank of Baroda jumped 8.49% to Rs 174.35 after net profit jumped 343.54% to Rs 552.12 crore on 2.1% decline in operating income to Rs 12046.60 crore in Q2 September 2016 over Q2 September 2015. Corporation Bank jumped 13.06% to Rs 47.60 after net profit net profit rose 9.4% to Rs 206.28 crore on 5.8% decline in operating income to Rs 5750.62 crore in Q2 September 2016 over Q2 September 2015.

Tata Steel dropped 7.80% to Rs 393.55 after the company reported net loss of Rs 49.38 crore in Q2 September 2016, as against net profit of Rs 5609.43 crore in Q2 September 2015.

Elsewhere in the Asia Pacific region: New Zealands NZX50 added 0.5% to 6770.43. Indonesias Jakarta Composite index slipped 0.7% to 5078.50. Taiwans Taiex slipped 0.1% to 8931. South Koreas KOSPI index declined 0.4% to 1967.53. Malaysias KLCI was up 0.9% to 1630.56. Singapores Straits Times index rose 0.4% to 2797.55.

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Hong Kong Stocks rebound from 3-month low
Nov 15,2016

The Hong Kong stock market closed higher for the first time last three sessions on Tuesday, 15 November 2016, as the US dollar retreated from recent highs and the Shenzhen Hong Kong Stock Connect prepared for its debut. Market gains were led by strong performances from health and personal care stocks, and insurance stocks. The Hang Seng Index ended the day up 0.46% or 101.69 points at 22,323.91 while the Hang Seng China Enterprises Index jumped 0.59% or 55.23 points to 9,398.10. Turnover decreased to HK$69.5 billion from HK$80.7 billion on Monday.

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China Stocks slip on profit booking
Nov 15,2016

Mainland China stock market closed down on Tuesday, 15 November 2016, snapping a three-day winning streak, as investors took profits in resource stocks after a slump in the countrys commodity futures market. Sectors were mixed, with materials and infrastructures lost ground, while gains were seen in properties and consumers. The benchmark Shanghai Composite Index declined 0.11% to close at 3,206.99 points. The CSI 300 index closed marginal 0.01% down at 3,429.87 points.

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Australia Stocks end just a shade lower
Nov 15,2016

Australian share market finished session just a shade lower on Tuesday, 15 November 2016, recouping some early losses after positive remarks on the economy from the Reserve Bank of Australia offset risk aversion. In the minutes of its November policy meeting, Australias central bank said it expects core inflation to pick up gradually amid surging prices for key commodity exports and an economy running near potential, implying it might be done cutting interest rates this cycle. The ASX sectors closed mixed, with materials and healthcare issues underperformed other sectors, offsetting gains in energy sector. At the closing bell, the benchmark S&P/ASX 200 index declined 19.50 points, or 0.36%, to 5,326.20, while the broader All Ordinaries index decreased 20.50 points, or 0.38%, to 5,399.80.

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