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China Stocks recoup losses
Dec 26,2016

Mainland China stock market closed firmly in green after recouping initial losses during late afternoon trade on Monday, 26 December 2016, thanks to buying pressure in the shares of insurances and state-backed builders which helped offsetting the weakness in resources pulled lower by falls in commodity prices. The Shanghai Composite Index rose 0.45% to 3,210.37, reversing an earlier decline of as much as 1.3%. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.37% to 1,978.37. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, grew 0.48% to close at 1,974.01 points. Trading volume in Shanghai hit a nearly two-month low, with some investors unwilling to buy risky assets as year-end approaches.

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Nikkei falls in quiet holiday trade
Dec 26,2016

The Japan share market closed lower in quiet holiday trade on Monday, 26 December 2016, as investors cashed in on recent rallies due to yen appreciation against the dollar. Trading was thin throughout the day due to the Christmas lethargy, with the U.S. and other major overseas markets closed. Tokyos benchmark Nikkei 225 index ended down 0.16%, or 31.03 points, to 19,396.64. The broader Topix index of all first-section issues finished down 0.37%, or 5.68 points, at 1,538.14. The Tokyo market was closed on Friday for a national holiday.

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Australia Market closes for a Christmas holiday
Dec 26,2016

Australian share market closed on Monday, 26 December 2016, in observance of Christmas holiday.

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Hong Kong Financial market shut for the holiday
Dec 26,2016

Hong Kongs financial markets closed on Monday, 26 December 2016, for the holiday. The city financial market also shut again on Tuesday for the holiday. The Hang Seng Index has lost 5.3% in December and tumbled 7.4% in the fourth quarter. The index is down 1.6% this year.

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Modest losses at Wall Street
Dec 23,2016

U.S. stocks ended Thursdays thinly-traded preholiday session with modest losses on 22 December 2016. Investors seemed reluctant to bid up prices of indexes that are already hovering near all-time highs. The S&P 500 and Nasdaq Composite booked their first consecutive losses in three weeks, as the n++Trump rallyn++ lost momentum over the past few sessions.

The Dow Jones Industrial Average finished 23.08 points, or 0.1%, lower at 19,918.88. The blue-chip index struggled to hit 20,000 as the psychologically important level has eluded it for days amid stalled momentum. The S&P 500 closed 4.22 points, or 0.2%, lower at 2,260.96, only 11 points below its all-time high set last week. The tech-heavy Nasdaq Composite declined 24.01 points, or 0.4%, at 5,447.42, but is still hovering near its record level set on Tuesday.

Of the S&P 500s 11 main sectors, seven closed in negative territory. Consumer discretionary stocks were among the biggest losers, with the sectors finishing 1% lower.

The ICE Dollar Index was up less than 0.1% on Thursday. The dollar gauge, which measures the strength of the buck against a basket of six currencies.

At Wall Street there was mixed U.S. economic indicators on Thursday. A reading of third-quarter gross domestic product was lifted to a gain of 3.5% on an annual basis, while durable-goods orders fell for the first time in five months in November.

Separately, U.S. jobless claims climbed to the highest level since mid-June, rising 21,000 to 275,000. But even with this increase, overall levels of layoffs are still very low.

Bullion prices ended lower at Comex on Thursday, 22 December 2016. Gold prices on Thursday declined for a third straight session, adding to their December retreat, even as the dollar fell from a 14-year high notched earlier this week.

Gold for February delivery fell $2.50, or 0.2%, to settle at $1,130.70 an ounce, after logging narrow declines on Tuesday and Wednesday. For the week, gold is down 0.5%. If the metal logs another weekly loss on Friday, it will be the seventh weekly loss for gold in a row. March silver fell 10.8 cents, or 0.7%, to settle at $15.87 an ounce on Thursday.

Crude-oil futures settled firmly higher on Thursday, 22 December 2016 at Nymex bouncing back after slumping a day earlier on reports of a surprise buildup in U.S. inventories. A strong report on U.S. gross domestic product and a larger-than-expected drawdown of natural-gas supplies helped to revive sentiment that domestic appetite for crude products may be able to sop up supplies in tandem with an agreement by the Organization of the Petroleum Exporting Countries to curb global production.

West Texas Intermediate crude for delivery in February picked up 46 cents, or 0.9%, to settle at $52.95 a barrel. Meanwhile, February Brent crude on Londons ICE Futures exchange added 59 cents, or 1.1%, to close at $55.05 a barrel.

Futures climbed as the U.S. Energy Information Administration reported on Thursday that natural gas inventories declined by 209 billion cubic feet during the week ended 16 December 2016, more than double the average for this time of year.

Treasuries ended the day on a mostly lower note with the 10-yr yield rising one basis point to 2.55%.

Intraday investor participation was below average, but a volume surge into the close lifted the NYSE floor total above yesterdays level of 850 million to more than 875 million.

Tomorrows economic data will be limited to the 10:00 ET release of November New Home Sales (consensus 573,000) and the final reading of the Michigan Sentiment Index for December (consensus 98.2).

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US stocks register modest losses
Dec 23,2016

U.S. stocks ended Thursdays thinly-traded preholiday session with modest losses on 22 December 2016 as investors seemed reluctant to bid up prices of indexes that are already hovering near all-time highs. The S&P 500 and Nasdaq Composite booked their first consecutive losses in three weeks, as the n++Trump rallyn++ lost momentum over the past few sessions.

The Dow Jones Industrial Average finished 23.08 points, or 0.1%, lower at 19,918.88. The blue-chip index struggled to hit 20,000 as the psychologically important level has eluded it for days amid stalled momentum. The S&P 500 closed 4.22 points, or 0.2%, lower at 2,260.96, only 11 points below its all-time high set last week. The tech-heavy Nasdaq Composite declined 24.01 points, or 0.4%, at 5,447.42, but is still hovering near its record level set on Tuesday.

Of the S&P 500s 11 main sectors, seven closed in negative territory. Consumer discretionary stocks were among the biggest losers, with the sectors finishing 1% lower.

The ICE Dollar Index was up less than 0.1% on Thursday. The dollar gauge, which measures the strength of the buck against a basket of six currencies.

At Wall Street there was mixed U.S. economic indicators on Thursday. A reading of third-quarter gross domestic product was lifted to a gain of 3.5% on an annual basis, while durable-goods orders fell for the first time in five months in November.

Separately, U.S. jobless claims climbed to the highest level since mid-June, rising 21,000 to 275,000. But even with this increase, overall levels of layoffs are still very low.

Bullion prices ended lower at Comex on Thursday, 22 December 2016. Gold prices on Thursday declined for a third straight session, adding to their December retreat, even as the dollar fell from a 14-year high notched earlier this week.

Gold for February delivery fell $2.50, or 0.2%, to settle at $1,130.70 an ounce, after logging narrow declines on Tuesday and Wednesday. For the week, gold is down 0.5%. If the metal logs another weekly loss on Friday, it will be the seventh weekly loss for gold in a row. March silver fell 10.8 cents, or 0.7%, to settle at $15.87 an ounce on Thursday.

Crude-oil futures settled firmly higher on Thursday, 22 December 2016 at Nymex bouncing back after slumping a day earlier on reports of a surprise buildup in U.S. inventories. A strong report on U.S. gross domestic product and a larger-than-expected drawdown of natural-gas supplies helped to revive sentiment that domestic appetite for crude products may be able to sop up supplies in tandem with an agreement by the Organization of the Petroleum Exporting Countries to curb global production.

West Texas Intermediate crude for delivery in February picked up 46 cents, or 0.9%, to settle at $52.95 a barrel. Meanwhile, February Brent crude on Londons ICE Futures exchange added 59 cents, or 1.1%, to close at $55.05 a barrel.

Futures climbed as the U.S. Energy Information Administration reported on Thursday that natural gas inventories declined by 209 billion cubic feet during the week ended 16 December 2016, more than double the average for this time of year.

Treasuries ended the day on a mostly lower note with the 10-yr yield rising one basis point to 2.55%.

Intraday investor participation was below average, but a volume surge into the close lifted the NYSE floor total above yesterdays level of 850 million to more than 875 million.

Tomorrows economic data will be limited to the 10:00 ET release of November New Home Sales (consensus 573,000) and the final reading of the Michigan Sentiment Index for December (consensus 98.2).

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Asia Pacific Market: Stocks softer on weak global cues
Dec 22,2016

Asia Pacific share market mostly down on Thursday, 22 December 2016, mirroring the fall of US stocks overnight and softer crude oil prices. Risk sentiments were also downbeat on caution ahead of the release of U.S. economic data later in the day. MSCIs broadest index of Asia-Pacific shares outside Japan erased modest early gains to slip 0.7% as of 0935 GMT.

Investors are waiting for a range of economic indicators, including the third revision of U.S. third-quarter gross domestic product, to gauge the strength of the worlds largest economy. Durable goods orders for November and weekly initial jobless claims are also scheduled to be released.

Among Asian bourses

Nikkei falls on profit taking

The Japan share market declined, as profit taking continued on tracking the fall of US stocks overnight as well as lower oil prices. The 225-issue Nikkei average shed 16.82 points, or 0.09%, to end at 19,427.67. The broader Topix index of all first-section issues fell 0.07%, or 1.12 points, to 1,543.82. For the week, Nikkei average was up 0.13% while the Topix index fell 0.44%. Financial markets are closed on Friday or a national holiday.

Financials faced fresh pressure as Italys ailing banking sector buckles under billions of dollars of bad loans, which many fear could collapse, sending shockwaves through global markets. Even the Italian parliaments approval of a 20 billion euro ($20.9 billion) support package was not enough to soothe nerves. In Tokyo, banking giant Mitsubishi UFJ Financial fell 0.49% to 745.3 yen while Sumitomo Mitsui Financial sank 0.69% to 4,603 yen.

Exporters were mixed on following the falls in the key U.S. market gauges. Japan Display declined 4.64% to 349 yen, while NEC was down 1.90% at 309 yen and Olympus lost 5.07% to end at 3,925 yen. But Honda rose 1.21% to 3,570 yen after it said it was in talks with a Google spin-off to jointly develop self-driving technology.

Australia Market extends gain for fourth day

Australian share market finished session at a new high for 2016 today, as the banks continue to find buyers, offsetting losses in healthcare stocks, with local investors shrugging off a fall in Wall St futures. The S&P/ASX 200 index entered its fourth straight day of gains, up 0.38%, or 21.12 points, at 5,634.47. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 566 to 426 and 315 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.01% to 10.217 a new 52-week low.

Financial stocks, which have been beneficiaries of the rally sparked by Donald Trumps election as US President, led the gains with the benchmark financial index up for a fifth straight, hovering around over 16-month highs. The big four banks powered the days gains. Commonwealth Bank closed 60 cents higher at A$82.69, ANZ rose 42 cents to A$30.72, National Australia Bank gained 24 cents to A$30.80 and Westpac advanced 20 cents to A$32.68.

Sentiment was also buoyed by iron ore recovering from its 5-day slide, ending higher on Wednesday and copper holding steady on the London Metal Exchange. Fortescue Metals, which has had a phenomenal run this year, gained 1.9% while Rio Tinto rose 0.7%. However, BHP Billiton, which has significant oil exposure, shed 1.4% as oil prices fell on Wednesday on news of rising crude inventories in the United States and Libya expecting to boost production.

Oil and gas producers were mixed after global oil prices fell overnight on news Libya plans to boost oil production and US crude oil inventories showed a surprised lift its stockpiles. Brent crude oil dropped 1.6% to $US54.49 a barrel. Woodside Petroleum rose 36 cents to A$31.40, Oil Search climbed 5 cents to A$6.93, while Santos eased 5 cents to A$3.92. Fuel retailer and supplier Caltex Australia dropped 36 cents to A$30.45 after it announced a A$325 million deal to buy Kiwi fuel retailer Gull New Zealand.

China Stocks mixed

Mainland China stocks were little changed, as strength in shares of state-owned enterprises (SOE) was offset by persisting tight liquidity in the wake of a bond scandal. The Shanghai Composite Index rose 0.07% to 3,139.56, reversing an earlier decline of 0.34%. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, fell 0.13% to 1,993.37. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, dropped 0.27% to close at 1,986.27 points.

Markets sentiments were dampened by news the insurance regulator was making it much harder for insurers to get new licences, in the latest move to rein in some insurers aggressive stock investments that have raised concerns. A recent bond scandal also weighed on sentiment after Chinas central bank asked its branches to look into entrusted bond holding agreements between some commercial banks and non-financial firms.

Property stocks fell after President Xi Jinping said Chinas approach to regulating its red-hot property market would include financial, fiscal, tax, land, and regulatory measures as Beijing looks to develop a long-term mechanism for an industry prone to speculation.

Energy shares received a boost from index heavyweight PetroChina Co Ltd, which climbed to a nearly one-year intraday high on restructuring hopes.

Hong Kong Stocks slip on profit taking

The Hong Kong stock market closed lower, as investors elected profit taking before the Christmas and New Year holiday season. Meanwhile, weakness in mainland bourses also weighed down sentiments. Nearly all sectors retreated, with financial stocks among the biggest decliner. Hong Kongs benchmark Hang Seng Index closed 0.8% lower at 21,636.20. The Hang Seng China Enterprises Index, known as the H-shares index, fell 1.41% to 9,200.24. Turnover increased to HK$50.2 billion from HK$47.6 billion on Wednesday.

The gauge has slumped more than 10% since its Sept. 9 high as rising funding costs in Hong Kong and the mainland weighed on property developers and a weakening yuan turned investors off Chinese assets. The Hang Seng Index has declined 5.1% in December and lost 7.1% in the fourth quarter, while its down 1.3% this year.

Market heavyweights were lower. China Mobile (00941) slid 1.04% to HK$80.9, while Tencent lost 0.38% to HK$181.50 and HSBC (00005) dipped 0.87% to HK$62.55.

Chinese insurers were pressured on news that China Insurance Regulatory Commission will tighten new license issuance. CPIC (02601) plunged 3.06% to HK$26.95. China Life (02628) fell 1.72% HK$20.05. PICC P&C (02328) dropped 1.64% to HK$11.98, while China Taiping (00966) sank 1.88% to HK$15.68.

Bohai-Rim Steam-Coal Price Index continued its losses. China Shenhua (01088) dropped 3.1% to HK$14.38, making itself the top blue-chip loser.

Indian Indices settle below key psychological levels

Gravity gripped Indian bourses for the seventh straight trading day today. The barometer index, the SandP BSE Sensex, dropped 262.78 points or 1% at 25,979.60. The Nifty 50 index shed 82.20 points or 1.02% at 7,979.10. The Sensex settled below the psychological 26,000 and Nifty ended below the crucial 8,000 level.

Shares of metal and mining companies fell after copper prices declined in the global commodities market. Hindalco Industries (down 4.41%), Vedanta (down 4.14%), National Aluminium Company (down 4.19%), Jindal Steel and Power (down 4.95%), Steel Authority of India (down 2.73%), Tata Steel (down 2.69%), Hindustan Copper (down 2.67%), NMDC (down 2.42%), Hindustan Zinc (down 2.43%), Bhushan Steel (down 0.36%) and JSW Steel (down 1.76%), edged lower. Meanwhile, copper price edged lower in the global commodities markets. High Grade Copper for March 2017 delivery was currently down 1% at $2.4720 per pound on the COMEX.

Cement stocks also suffered losses in weak market. Shree Cement (down 4.8%), ACC (down 0.87%), Ambuja Cements (down 1.01%), and UltraTech Cement (down 1.25%) declined. Grasim Industries declined 1.2%. Grasim has exposure to the cement sector through its holding in UltraTech Cement.

TCS shed 0.13% after the company announced that London Mutual Credit Union (LMCU) implemented the migration of their technology platform to run on TCS BaNCS on the Cloud to redefine customer experience.

Sun Pharmaceutical Industries slipped 0.85% after reports that the company has signed an agreement between subsidiaries of both the companies and will close following anti-trust clearance and further closing conditions. The agreement has been signed for an upfront payment of $175 million and additional milestone payments.

Singapore shares extend losses

Singapore share market retreated, following losses in the United States and lower crude prices. The benchmark Straits Times Index (STI) slid 19.66 points, or 0.68%, to 2,882.04.

The drop in crude prices weighed heavily on oil and gas-related plays. Rig-builder Sembcorp Marine sank 5.5 cents, or 3.9%, to $1.365, while parent company Sembcorp Industries lost five cents, or 1.7%, to $2.87.

Keppel Corporation slipped seven cents, or 1.2%, to $5.83. This was despite news that its unit Keppel Infrastructure Holdings has been named the preferred bidder by national water agency PUB to build and operate Singapores fourth desalination plant for a concession period of 25 years.

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Hong Kong Stocks slip on profit taking
Dec 22,2016

The Hong Kong stock market closed lower on Thursday, 22 December 2016, as investors elected profit taking before the Christmas and New Year holiday season. Meanwhile, weakness in mainland bourses also weighed down sentiments. Nearly all sectors retreated, with financial stocks among the biggest decliner. Hong Kongs benchmark Hang Seng Index closed 0.8% lower at 21,636.20. The Hang Seng China Enterprises Index, known as the H-shares index, fell 1.41% to 9,200.24. Turnover increased to HK$50.2 billion from HK$47.6 billion on Wednesday.

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Nikkei falls on profit taking
Dec 22,2016

The Japan share market declined on Thursday, 22 December 2016, as profit taking continued on tracking the fall of US stocks overnight as well as lower oil prices. The 225-issue Nikkei average shed 16.82 points, or 0.09%, to end at 19,427.67. The broader Topix index of all first-section issues fell 0.07%, or 1.12 points, to 1,543.82. For the week, Nikkei average was up 0.13% while the Topix index fell 0.44%. Financial markets are closed on Friday or a national holiday.

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China Stocks mixed
Dec 22,2016

Mainland China stocks were little changed on Thursday, 22 December 2016, as strength in shares of state-owned enterprises (SOE) was offset by persisting tight liquidity in the wake of a bond scandal. The Shanghai Composite Index rose 0.07% to 3,139.56, reversing an earlier decline of 0.34%. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, fell 0.13% to 1,993.37. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, dropped 0.27% to close at 1,986.27 points.

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Australia Market extends gain for fourth day
Dec 22,2016

Australian share market finished session at a new high for 2016 on Thursday, 22 December 2016, as the banks continue to find buyers, offsetting losses in healthcare stocks, with local investors shrugging off a fall in Wall St futures. The S&P/ASX 200 index entered its fourth straight day of gains, up 0.38%, or 21.12 points, at 5,634.47. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 566 to 426 and 315 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.01% to 10.217 a new 52-week low.

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Asia Pacific Market: Shares higher as Wall St continues to inspire
Dec 21,2016

Asia Pacific share market mostly higher on Wednesday, 21 December 2016, pushed up by tracking stellar gains on Wall Street overnight fuelled by hopes of stronger economic growth during Donald Trumps presidency. The MSCI Asia Pacific Index was little changed at 135.34

Overnight, Wall Street extended a recent rally on the back of optimism about president-elect Donald Trumps policies. The Dow Jones industrial average rose 0.46%, and is nearing 20,000, a level it has never breached. The S&P 500 ended up 0.36% and the Nasdaq was up 0.49%.The rally was fuelled by financials.

The dollar jumped to a 14-year high late on Tuesday U.S time after Federal Reserve Chair Janet Yellens positive comments on the labor market, a key economic indicator for the Fed in its decision to tighten monetary policy.

In energy news, U.S. crude stockpiles fell by 4.1 million barrels last week, as refineries boosted output, according to American Petroleum Institute data. Crude futures were up for the fourth straight session with U.S. crude oil futures up 0.56% at $53.60 a barrel on Wednesday Asian time, while Brent climbed 0.47% to $55.61.

Among Asian bourses

Australia Market hits 16-month high

Australian share market finished session at highest in over 16 months, albeit in thin trade, pushed up by a mix of materials and financial stocks as investor sentiment was boosted by Wall Streets record run overnight. The S&P/ASX 200 index rose 0.4%, or 22.43 points, to 5,613.5, its highest closing level since Aug. 5, 2015.

Financial stocks followed suit to close at their highest in over 16 months, in step with the gains of their US counterparts. All four major banks were higher, with ANZ shares up 0.7% and National Australia Bank up 0.4%. Meanwhile REA Group, which announced the A$190 million sale of its European businesses on Tuesday, rose by 1.7%.

Energy shares were also slightly firmer after oil prices rose overnight, despite the rally being cut with Libya announcing it would reopen its pipelines after a recent blockade by protesters. Oil Search Ltd gained about 1% and Whitehaven Coal was up 3%. Caltex Australia rose 1.79%, Woodside was up 0.16% and Origin lifted by 0.16%.

Meanwhile higher copper and iron ore prices boosted the miners with BHP Billiton gaining over 1%, while Rio Tinto Ltd added 1.5%. Fortescue Metals share were also 0.8% higher.

Nikkei falls on profit taking

The Japan share market closed down, weighed down by profit booking in the afternoon following an earlier rally that came after following stellar gains on Wall Street overnight. Total 28 out of 33 TSE industry category on the main section declined, with Precision Instruments, Electric Power & Gas, Iron & Steel, Construction, and Pharmaceutical issues being notable losers. The 225-issue Nikkei average shed 50.04 points, or 0.26%, to end at 19,444.49. The Topix index of all first-section issues closed down 7.42 points, or 0.48%, at 1,544.94. Falling issues outnumbered rising ones 1,417 to 471 in the TSEs first section, while 113 issues were unchanged. Volume rose to 2.102 billion shares from Tuesdays 1.929 billion shares.

Machinery makers Komatsu and Hitachi Construction Machinery were upbeat after Caterpillar advanced in U.S. trading overnight on hopes for President-elect Donald Trumps stimulus policies. PanaHome attracted purchases after parent electronics maker Panasonic announced a plan Tuesday to take full control of the home builder. In contrast, NEC lost ground after a foreign securities firm revised down its investment rating on the electronics maker. Power firms, including TEPCO Holdings, Chubu Electric and J-Power, fell due to profit-taking.

China Stocks rebound on easing liquidity concerns

Mainland China stock market closed higher, as investors chased for bottom fishing after benchmark hits a six-week low previous day. Meanwhile, buying pressured underpinned as fears of a liquidity squeeze in the banking system subsided after risks from a bond scandal appeared contained, and on a pledge to deepen reforms in state-owned sectors. Most sectors gained, led by infrastructure and transport plays, while properties and banks steadied. The Shanghai Composite Index rose 1.11% to 3,137.43, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.74% to 1,996.03. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, added 0.47% to close at 1,991.70 points.

Chinas bond market rebounded on Wednesday, reversing declines in the previous two trading sessions. Investors relaxed after Sealand Securities, a brokerage embroiled in a scandal, said on Wednesday it would take responsibility for forged bond agreements. Sealands commitment eased concerns of a liquidity squeeze, triggering a sharp rebound in bond prices. The benchmark 10-year treasury futures for March delivery rebounded 1.57%, while the 5-year Treasury futures for March delivery ended 1.09% higher.

Hong Kong Stocks rebound

The Hong Kong stock market staged a slight recovery, after falling in the four previous days as traders tracked another record close on Wall Street overnight fuelled by hopes of stronger economic growth during Donald Trumps presidency. The market also got a modicum of support from the mainland, where fears of a liquidity squeeze in Chinas banking system subsided after risks from a high-profile bond scandal appeared contained. Hong Kongs benchmark Hang Seng Index closed 0.37% higher at 21,809.8, ending a four-day drop as the financial and energy sectors rose. The Hang Seng China Enterprises Index, known as the H-shares index, gained 0.52% to 9,331.63. Daily turnover dropped to HK$47.6 billion from HK$53.8 billion a day earlier ahead of holidays.

China Life Insurance (02628) put on 2.51% to HK$20.4, making itself the top blue-chip gainer. Nomura Research maintained its buy rating of the insurer.

Chinese airlines gained broadly after Chinas SASAC said it will implement mixed-ownership reform of state-owned enterprises in areas such as civil aviation. China Eastern Airlines (00670) shot up 8.43% to HK$3.6. Air China (00753) gained 2.6% to HK$5.13, while China Southern Airlines (01055) surged 4.21% to HK$4.21.

Casino players jumped, amid expectations of increasing revenues for 2017. Sands China advanced 1.99% to HK$33.3, and Galaxy Entertainment added 1.65% to HK$33.9.

Oil companies enjoyed gains as oil prices climbed. PetroChina jumped 1.54% to HK$5.95, while China Petroleum & Chemical added 1.25%.

Hong Kong property developers, however, were lower on concerns that surging mortgage costs will threaten home sales.The three-month Hong Kong Interbank Offered Rate continued to rise, hitting 1.0096%, the highest in more than seven years on Wednesday. Mortgages issued through Hong Kong banks for local property purchases are tied to the Hibor rate. Hang Lung Properties dropped 0.97% to HK$16.32, while Cheung Kong Property Holdings fell 0.31% to HK$48.55.

Indonesian shares hit a near 4-week

Indonesian share market closed near 4-week low today, falling for a seventh straight session as investors stayed on the sidelines due to a lack of positive triggers. The Jakarta Composite Index closed nearly 1%lower, dragged down by consumer staples and financial stocks.

Shares of tobacco companies Hanjaya Mandala Sampoerna Tbk PT and Gudang Garam Tbk PT were down 4.8% and 1.6%, respectively.

Sensex closes down

Indian share market fell for the sixth day to end at nearly two-week low, dragged down by major IT stocks such as Infosys and TCS amid mixed global cues. The Sensex lost 65.60 points or 0.25% to settle at 26,242.38. The Nifty fell 21.10 points or 0.26% to settle at 8,061.30.

IT stocks dropped as rupee strengthened past 68 against the dollar. Infosys (down 0.66%), Tech Mahindra (down 0.39%), TCS (down 1.07%), Wipro (down 0.91%) and HCL Technologies (down 1.05%) edged lower. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a lions share of revenue from exports. In the foreign exchange market, the partially convertible rupee was hovering at 67.87, compared with its close of 68.05 during the previous trading session.

Sun Pharmaceutical Industries was down 2.25%. The company announced that all the formalities for the closure and the process for acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company have been concluded. The company had announced about the transaction on 23 November 2016. JSC Biosintez is engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region.

Reliance Communications (RCom) jumped after the company announced the signing of binding agreements with Brookfield Infrastructure in relation to the acquisition of RComs nationwide tower assets by affiliates of Brookfield Infrastructure Partners LP and its institutional partners.

State Bank of India rose 0.24% after the bank announced that its shareholders approved the proposal to raise capital through the issue of preferential shares to the government. They also gave an in-principle nod to additional fund raising by way of a public issue, should the bank need to tap the markets.

Among other Asian market- South Koreas Kospi closed down 0.19% while Taiwans Taiex closed 0.41% lower. Singapores Straits Times Index added 0.1% and New Zealands benchmark gauge rose 0.2%

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Hong Kong Stocks rebound
Dec 21,2016

The Hong Kong stock market staged a slight recovery on Wednesday, 21 December 2016, after falling in the four previous days as traders tracked another record close on Wall Street overnight fuelled by hopes of stronger economic growth during Donald Trumps presidency. The market also got a modicum of support from the mainland, where fears of a liquidity squeeze in Chinas banking system subsided after risks from a high-profile bond scandal appeared contained. Hong Kongs benchmark Hang Seng Index closed 0.37% higher at 21,809.8, ending a four-day drop as the financial and energy sectors rose. The Hang Seng China Enterprises Index, known as the H-shares index, gained 0.52% to 9,331.63. Daily turnover dropped to HK$47.6 billion from HK$53.8 billion a day earlier ahead of holidays.

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China Stocks rebound on easing liquidity concerns
Dec 21,2016

Mainland China stock market closed higher on Wednesday, 21 December 2016, as investors chased for bottom fishing after benchmark hits a six-week low previous day. Meanwhile, buying pressured underpinned as fears of a liquidity squeeze in the banking system subsided after risks from a bond scandal appeared contained, and on a pledge to deepen reforms in state-owned sectors. Most sectors gained, led by infrastructure and transport plays, while properties and banks steadied. The Shanghai Composite Index rose 1.11% to 3,137.43, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.74% to 1,996.03. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, added 0.47% to close at 1,991.70 points.

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Australia Market hits over 16-month high
Dec 21,2016

Australian share market finished session at highest in over 16 months, albeit in thin trade, pushed up by a mix of materials and financial stocks as investor sentiment was boosted by Wall Streets record run overnight. The S&P/ASX 200 index rose 0.4%, or 22.43 points, to 5,613.5, its highest closing level since Aug. 5, 2015.

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