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Hong Kong Stocks close higher
Mar 08,2017

The Hong Kong stock market closed up for third straight session on Wednesday, 08 March 2017, helped by Chinese trade data which fuelled optimism about robust consumption demand. The gain was led by mainland property developers, as well as a jump in ZTE Corp after the Chinese telecom equipment maker agreed to plead guilty in a U.S. sanctions case. The benchmark Hang Seng index added 0.4%, to 23,782.27, while the Hong Kong China Enterprises Index gained 0.5%, to 10,280.31.

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Nikkei falls for fourth day
Mar 08,2017

The Japan share market ended down for fourth straight session on Wednesday, 08 March 2017, due to growing wait-and-see mood ahead of closely watched events, in particular the U.S. employment data later this week, the final hurdle before the U.S. Federal Reserve monetary policy meeting next week. A fall in the U.S. equities on Tuesday and a halt to the yens weakening against the dollar also weighed on the Tokyo market. But the markets downside was supported by buying on dips and hopes for exchange-traded fund buying by the Bank of Japan. The 225-issue Nikkei average lost 90.12 points, or 0.47%, to end at 19,254.03. The Topix index of all first-section issues closed down 4.79 points, or 0.31%, at 1,550.25.

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Australia Stocks down, weigh by miners
Mar 08,2017

Australian equity market finished marginally down in choppy trade on Wednesday, 08 March 2017, as losses by mining stocks and weakness in utilities offset modest gains in the energy sector and most big banks. At the close, the benchmark S&P/ASX 200 index fell 1.70 points, or 0.03%, of 5,759.70, while the broader All Ordinaries index shed 2.40 points, or 0.04%, to 5,799.50.

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China: Stocks close up
Mar 06,2017

Mainland China stock market closed higher on Monday, 06 March 2017, as investors piled into technology shares after Premier Li Keqiang pledged to support innovative industries such as new materials, artificial intelligence and the biopharmaceutical sector as a key part of the economys restructuring at the annual opening of the countrys parliament. The Shanghai Composite Index closed the day up 0.48% at 3,234, while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - was up 0.54% at 3,446. The Shenzhen Component Index added 1.20% to 10,522. The tech-heavy ChiNext surged 1.79% to 1,963.

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Nikkei falls; yen rallies after N Korea fires missiles
Mar 06,2017

The Japan share market ended down on Monday, 06 March 2017, due to renewed geopolitical concerns after North Korea fired four missiles - three of them landing in Japanese waters. The geopolitical woes shadowed enthusiasm over the possibility of a near-term interest-rate increase by the Federal Reserve. Japanese Prime Minister Shinzo Abe warned the threat from North Korea had entered a new stage following the missile launch, which came after Pyongyang fired a rocket last month. The 225-issue Nikkei average shed 90.03 points, or 0.46%, to finish at 19,379.14. The Topix index of all first-section issues closed down 3.15 points, or 0.20%, at 1,554.90. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1555 to 1420 and 374 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 0.40% to 17.62.

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Australia Stocks up, driven by miners
Mar 06,2017

Australian equity market finished marginally higher on Monday, 06 March 2017, due to gains in material stocks and financials offset the losses in defensive and energy stocks. The S&P/ASX 200 index finished 0.29%, or 16.899 points, higher at 5,746.5. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 586 to 485 and 335 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.27% to 12.101.

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Asia Pacific Market: Stocks mostly up on Trump relief
Mar 02,2017

Asia Pacific share market closed mostly up on Thursday, 02 March 2017, as investors took heart from record performances of Wall Street overnight, where the Dow Jones industrial average closed above 21,000, after U.S. President Donald Trumps pledge to invest heavily in infrastructure, cut corporate taxes and ease regulations. But, gains on the regional bourses were limited as speculation of capital outflow woes renewed on growing expectations that the U.S. Federal Reserve will raise interest rates this month. The MSCIs broadest index of Asia-Pacific shares outside Japan advanced 0.7%.

The US presidents much-anticipated address on Tuesday, while lacking details, was broadly welcomed as he promised a US$1-trillion (Bt35 trillion) infrastructure splurge and tax cuts - music to bullish investors ears. Global equity markets have thundered along since Trumps November election win as dealers bet his policies would light a fire under the US economy. The fact that he did away with the bellicose rhetoric of the past made him appear more presidential, according to some observers.

While Trump gave few new details on his tax or spending plans, investors were encouraged by what they saw as a measured tone in his first speech to Congress as he tries to push his growth agenda through a Congress reluctant to widen the governments budget deficit. On Wall Street, the Dow blasted through the 21,000 mark for the first time, and the three main stock indexes surged more than 1.3% to close at record highs.

Among Asian bourses

Australia Stocks gains on Trump speech

Australian equity market finished higher for the first time in six consecutive sessions, as sentiment was supported by a combination of stronger global manufacturing activity and strong gains in Wall Street overnight after a pledge by US President Donald Trump to boost economic growth. The S&P/ASX 200 index was up 1.3%, or 71.804 points, to 5,776.60 at the close of trade, led by financials and material stocks.

Mining stocks led broad gains, rebounding from weakness in recent sessions, while the four biggest banks collectively added almost 16 points to the ASX 200. Among Australian mining stocks, South32 rallied 9.2% while BHP Billiton and Rio Tinto gained 3.3% and 3.5%, respectively. Commonwealth Bank led the big banks, with a rise of 1.3%, while Westpac Banking, Australia & New Zealand Banking and National Australia Bank each added at least 1%.

On the losing ledger, telecom stocks ended lower, with sector giant Telstra extending losses from the previous session, finishing 1.5% lower, after trading ex-dividend.

Nikkei gains on strong Wall Street, weak yen

The Japan share market ended at a two-month high, as investors took heart from robust gains on Wall Street overnight and yen depreciation against the U.S. dollar. Every industry category on the main section gained ground, led by insurance, securities, and iron and steel issues. Tokyos benchmark Nikkei 225 index climbed 0.88%, or 171.26 points, to close at 19,564.80, its highest close since Jan. 5, while the Topix index of all first-section issues tacked on 0.75%, or 11.60 points, to end at 1,564.69.

The nonferrous metal sector was boosted by hopes Trumps pledge to invest $1 trillion for infrastructure development would bring new business opportunities. Mitsubishi Materials rose 110 yen, or 3.0%, to 3,810 yen, while Sumitomo Metal Mining gained 41.50 yen, or 2.6%, to 1,610.50 yen.

Financial issues were also among the gainers, tracking rises of overseas counterparts on early rate hike hopes. Mitsubishi UFJ Financial Group rose 14.80 yen, or 2.0%, to 763.00 yen, Nomura Holdings increased 11.20 yen, or 1.5%, to 753.10 yen and Dai-ichi Life Insurance ended the day up 87.00 yen, or 4.0%, at 2,256.50 yen.

Showa Denko bucked the trend, dropping 144 yen, or 7.1%, to 1,880 yen after the chemical product maker said it would again postpone its release of financial results for the business year ended December due to a need for a closer review of a potentially inappropriate business transaction at a subsidiary.

China Stocks close down

Mainland China stock market closed lower, dragged down by infrastructure and real estate stocks, after a poll showed growth in Chinas home prices will slow significantly on continuing government curbs and tighter credit conditions in 2017. At the close, the benchmark Shanghai Composite Index lost 0.52% to 3,230.03 points. The blue-chip CSI 300 index declined 0.67% to 3,435.10 points. The Shenzhen Component Index edged down 0.5% to 10,367.3. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, slumped 0.60% to 1,920.40 points.

Most sectors fell, led by infrastructure and real estate stocks, after a poll showed Chinas house price growth will slow significantly on continuing government curbs and tighter credit conditions this year.

SF Express shares dropped 3% to 67.9 yuan, amid mainland media reports that Chinese authorities were closely watching the logistics and delivery service provider, which has risen sharply since completing a back-door listing last week.

The Chinese currency renminbi, or yuan, weakened against the U.S. dollar after the Peoples Bank of China set the midpoint rate softer, inline with dollar strength in international market amid growing expectations that the U.S. central bank will raise interest rates later this month.

Financial markets in China and around the world are also awaiting policy clues from the National Peoples Congress (NPC) parliamentary session that is set to start on Sunday. Premier Li Keqiangs annual work report is expected to include key economic targets for the year, including gross domestic product and money supply growth, while other speeches and reports will set out top policy priorities for the year. Chinese authorities usually keep the yuan relatively steady during high-profile political events.

The Peoples Bank of China set the yuans midpoint rate at 6.8809 per dollar prior to the market open, weaker than the previous fix of 6.8798. In spot market trading, the yuan opened at 6.8850 per dollar and was changing hands at 6.8836 at midday, 12 pips weaker than the previous late session close and 0.04% weaker than the midpoint.

Hong Kong Stocks surrender gains on profit-taking

The Hong Kong stock market closed down after wiping out initial gains, as some investors took advantage of the upbeat market to lock in profits. The change of direction in the afternoon was partly triggered by bearish sentiment on the mainland, where investors were worried about liquidity amid growing expectations that the U.S. Federal Reserve will raise interest rates this month. The Hang Seng Index fell 0.2% or 48.4 points to 23,782.1 while the Hang Seng China Enterprises Index dropped 0.4% to 10,246.9. Market turnover on the Hong Kong main board was HK$82.1 billion, slightly higher than Wednesdays HK$76.2 billion.

Expectations for a US interest rate increase in March have grown after Fed officials, including dovish Fed Governor Lael Brainard, showed their support for a rate rise n++soonern++. The markets have now shifted their focus to an address by US Federal Reserve chairwoman Janet Yellen on Friday which may offer clues on the possible interest rate rise.

Stocks sensitive to a US rate hike were affected, either positively or negatively. Banks were among the best performers, with Standard Chartered jumping 2.3% and HSBC adding 1.0%. However, property developers were under pressure. Cheung Kong Property was the biggest loser among the HSI 50, dropping 1.6% to HK$52.3. Sun Hung Kai Properties weakened 1.1% to HK$ 114.3 and Wheelock & Co declined 1.5% to HK$51.2. Chinese Estates Holdings edged 0.2% lower to HK$11.9, in line with the benchmark, after controlling shareholder Joseph Lau Luen-hung transferred his stake in the company to his wife and son due to a n++very unstable health conditionn++.

Markets are also paying attention to the National Peoples Congress meeting, an annual parliament-style gathering of delegates from all over China, during which Premier Li Keqiang is due to declare the nations annual growth target, fiscal budget and work focus for the government in 2017. Issues including environmental protection and state-owned enterprise reform are expected to be widely discussed during the meeting. Related shares rallied, with Kangda International Environmental jumping 6.8% to HK$2.1 and Guangdong Investment adding 2.3% to HK$10.8. China Water Industry Group increased 1.3% to HK$1.6 while China Water Affairs Group added 0.6% to HK$5.0.

Indian Market retreats after striking almost two-year high

Key Indian benchmark indices retreated from almost two-year highs as profit booking emerged at higher levels. The barometer index, the S&P BSE Sensex, lost 144.70 points or 0.50% to settle at 28,839.79. The Nifty 50 index fell 46.05 points or 0.51% to settle at 8,899.75. The Sensex settled below the psychologically important 29,000 mark after trading above that level for most part of the trading session. Key equity benchmarks were weighed by slide in shares of index heavyweight and cigarette maker ITC and bank stocks.

Tata Motors rose 2.66%. The companys total sales rose 2% to 47,573 vehicles in February 2017 over February 2016. The companys domestic sales of Tata commercial and passenger vehicles rose 3% at 42,679 units in February 2017 over February 2016.

Car major Maruti Suzuki India shed 0.04%. The company announced during market hours today, 2 March 2017, that its top-selling urban compact SUV Vitara Brezza has crossed one lakh cumulative sales milestone in the domestic market.

Eicher Motors fell 1.11%. The company said that sales volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors rose 9.28% to 5,499 units in February 2017 over February 2016.

Hero MotoCorp rose 1.37%. The company reported 4.75% drop in sales of 524,766 units of two-wheelers in the month of February 2017 over February 2016. Majority of Hero two-wheelers had already been made BS IV compliant quite sometime back and the company has fully transitioned to producing only BS IV vehicles across the range from 1 March 2017.

Bajaj Auto rose 2.12%. The company said its total vehicles sales rose 0.37% to 2.73 lakh units in February 2017, compared to 2.72 lakh units in February 2016. The companys sales from domestic market declined by 8% to 1.59 units in February 2017 over February 2016. While sales from export increased by 16% to 1.14 lakh units in February 2017 over February 2016. Sales from motorcycles segment grew 4% to 2.44 lakh units in February 2017 over February 2016.

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Australia Stocks gains on Trump speech
Mar 02,2017

Australian equity market finished higher for the first time in six consecutive sessions on Thursday, 2 March 2017, as sentiment was supported by a combination of stronger global manufacturing activity and strong gains in Wall Street overnight after a pledge by US President Donald Trump to boost economic growth. The S&P/ASX 200 index was up 1.3%, or 71.804 points, to 5,776.60 at the close of trade, led by financials and material stocks.

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China Stocks close down
Mar 02,2017

Mainland China stock market closed lower on Thursday, 02 March 2017, dragged down by infrastructure and real estate stocks, after a poll showed growth in Chinas home prices will slow significantly on continuing government curbs and tighter credit conditions in 2017. At the close, the benchmark Shanghai Composite Index lost 0.52% to 3,230.03 points. The blue-chip CSI 300 index declined 0.67% to 3,435.10 points. The Shenzhen Component Index edged down 0.5% to 10,367.3. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, slumped 0.60% to 1,920.40 points.

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Hong Kong Stocks surrender gains on profit-taking
Mar 02,2017

The Hong Kong stock market closed down after wiping out initial gains on Thursday, 02 March 2017, as some investors took advantage of the upbeat market to lock in profits. The change of direction in the afternoon was partly triggered by bearish sentiment on the mainland, where investors were worried about liquidity amid growing expectations that the U.S. Federal Reserve will raise interest rates this month. The Hang Seng Index fell 0.2% or 48.4 points to 23,782.1 while the Hang Seng China Enterprises Index dropped 0.4% to 10,246.9. Market turnover on the Hong Kong main board was HK$82.1 billion, slightly higher than Wednesdays HK$76.2 billion.

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Dow breaks through the 21,000 mark
Mar 02,2017

U.S. stock-market indices closed at a new round of records on Wednesday, 01 March 2017 as investors welcomed President Donald Trumps conciliatory tone during his address to a joint session of Congress, despite a lack of details on his economic plans.Stocks even rose slightly higher following the release of the Feds Beige Book, which pointed out that business optimism has cooled a bit since the election.

The Dow Jones Industrial Average broke through the 21,000 barrier, surging 303.31 points, or 1.5%, to close at a record 21,115.55. The S&P 500 index rallied 32.32 points, or 1.4%, to close at a record 2,395.96 after reaching a new intraday high of 2,400.98. The Nasdaq Composite Index surged 78.59 points, or 1.4% to close at a record 5,904.03.

Dows gains were led by J.P. Morgan Chase, American Express, Travelers, ExxonMobil and Boeing. Nine of the 11 main sectors finished higher. Financials led gains, followed by energy stocks.

The surge for stocks, on the heels of Trumps speech, also comes as the expectation for a rate increase by the Federal Reserve as early as mid-March have increased significantly.

The Dow industrials ran from clearing 20,000 for the first time to clearing 21,000 in 24 sessions.

On the data front, a report on personal income and outlays showed that the cost of goods and services outpaced household income, with the year-over-year inflation rising to the highest level since 2012. Higher pace of inflation is another reason the Fed might be eager to go ahead with rate normalization sooner rather than later.

The manufacturing index from the Institute for Supply Management rose to 57.7% in February, its best level in more than two years. Meanwhile, construction spending declined 1% in January.

Trump delivered his address to Congress after the markets close Tuesday. In what many saw as a rather reserved speech, the U.S. president said he would push for around $1 trillion in infrastructure spending, and promised n++massive tax reliefn++ for the middle class and tax cuts for corporations. Otherwise, the speech was lacking in firm details about his economic plans.

Among stocks under focus, Best Buy shares finished down 4.5% after the consumer electronics retailer reported fourth-quarter sales that missed expectations. McDonalds Corp.s shares gained 1.1% as the fast-food giant unveiled a global growth plan at a meeting for investors in Chicago on Wednesday. Lowes shares led S&P 500 gainers, closing up 9.5% after the home-improvement retailers quarterly results topped Wall Street estimates.

The Beige Book, a collection of anecdotes about the economy gathered before the central bank makes interest-rate decision, showed that the spike in business optimism following the presidential election has cooled a bit.

Gold for April delivery fell $3.90, or 0.3%, to settle at $1,250 an ounce. Prices had posted a gain of roughly 3.5% for the month of February. Silver for May delivery rose 2 cents, or 0.1%, to $18.489 an ounce.

Oil prices finished with a modest loss on Wednesday, 01 March 2017 as U.S. government data revealed an eighth weekly climb in a row for crude stockpiles that was actually smaller than the market expected. Traders also weighed pressure from concerns over higher oil production in the U.S. against support from expectations that the market is tightening as a result of production cuts in the Middle East and Russia.

April West Texas Intermediate crude fell 18 cents, or 0.3%, to settle at $53.83 a barrel on the New York Mercantile Exchange, but it also traded as high as $54.34 shortly after the supply data. May Brent crude on Londons ICE Futures exchange fell 15 cents, or 0.3%, to end at $56.36 a barrel.

Early Wednesday, the U.S. Energy Information Administration reported an increase of 1.5 million barrels in domestic crude-oil supplies for the week ended 24 February 2017. Data from the government agency had already shown gains in each of the previous seven weeks and total crude inventories of 520.2 million barrels last week marks a new weekly record. Gasoline supplies declined by 500,000 barrels, while distillate stockpiles fell 900,000 barrels last week. Market had called for a drawdown of 1.7 million barrels for gasoline and a fall of 700,000 barrels for distillates.

On Thursday, investors will receive February Challenger Job Cuts at 7:30 ET and the weekly Initial Claims report at 8:30 ET.

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Nikkei gains on strong Wall Street, weak yen
Mar 01,2017

The Japan share market ended at a two-month high on Thursday, 02 March 2017, as investors took heart from robust gains on Wall Street overnight and yen depreciation against the U.S. dollar. Every industry category on the main section gained ground, led by insurance, securities, and iron and steel issues. Tokyos benchmark Nikkei 225 index climbed 0.88%, or 171.26 points, to close at 19,564.80, its highest close since Jan. 5, while the Topix index of all first-section issues tacked on 0.75%, or 11.60 points, to end at 1,564.69.

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Asia Pacific Market: Stocks tepid ahead of Trump policy speech
Feb 28,2017

Headline equities of Asia Pacific market closed mixed in thin trading on Tuesday, 28 February 2017, as investors awaited a speech by U.S. President Donald Trump for details on tax reform and infrastructure spending later in the global day. Regional investors were also opted sideline ahead of key economic indicators (local and global) schedule to release tomorrow.

Investment sentiment was pressured as investors globally remained cautious ahead of President Trumps address to lawmakers. President Trump will deliver his fiscal budget to Congress on Tuesday evening in Washington. Market watchers will take a wait-and-see attitude for details on tax reform and infrastructure policy, areas where the Trump administration has promised sweeping changes. MSCIs broadest index of Asia-Pacific shares outside Japan erased earlier modest gains and edged down slightly.

Markets have largely priced in the new administrations policies, including corporate tax reform, infrastructure spending and deregulation, although expectations have moderated on the timing and extent of fiscal stimulus.

Markets have been longing for more detail on Trumps promised stimulus plans to judge if President Trumps really would lift inflation and economic growth, and thus add to the case for higher US interest rates. Such an outcome would tend to boost the US dollar across the board.

Among Asian bourses

Australia Market ends down

Australian equity market finished session down, due to late hour sharp selloff amid worries ahead of Trumps State of the Union address tomorrow. Among key sectors, shares of bullion, metal & mining, resources, and consumer staples complainers witnessed heavy selloff, while energy and utilities stocks registered notable buying. At the close, the benchmark S&P/ASX 200 index dropped 12 points, or 0.21%, of 5,712.20, while the broader All Ordinaries index shed 12.80 points, or 0.22%, to 5,761. For the month of February, the benchmark index gained 1.6%.

Gold stocks were the biggest drag on the materials sector, on caution ahead of President Donald Trumps speech to the U.S. Congress. Investors werent buying gold miners to hedge the risk. Perhaps it was expectations of some big tax cut or fiscal stimulus announcement that will push the odds of a US rate hike even higher. St Barbara shed 11.2% and Resolute Mining tanked 12.3%.

Shares of energy companies inclined, thanks to a big rally in WorleyParsons and gains in the oil price. Benchmark Brent crude was up 0.3% at $US56.11 today, underpinned by high compliance with OPECs production cuts even as the market remains anchored by rising US production. Engineering firm WorleyParsons rallied 32% on news that privately owned Dar Group had bought a 13% stake. Dar, which made a takeover offer in November that WorleyParsons rejected, said it was a strategic investment and that it currently has no plans to launch takeover talks. Oil-and-gas producer AWE climbed 2.1% after the release of first-half results

Electronics retailer Harvey Norman was up 0.6% after reporting a 39% surge in first-half profit on ongoing sales growth.

Cleaning and laundry-services company Spotless sank 14% after releasing an unexpectedly soft profit outlook.

Bellamys shares have come out of a trading halt, rising 4.2% to A$4.45 following the companys extraordinary shareholder meeting. Shareholders voted to remove existing directors Michael Wadley and Charles Sitch at the meeting.

Nikkei ekes out gain

The Japan share market ended in green terrain for the first time in last five market days, thanks to buybacks on a pause in the yens strengthening and a continued Wall Street rally overnight. The Nikkei 225 average closed 11.52 points, or 0.06%, higher at 19,118.99. The Topix, covering all first-section issues, rose 1.32 points, or 0.09%, to close at 1,535.32

Shares of Japanese electronics, industrial and brokerage stocks attracted buying as hawkish comments from Federal Reserve Bank of Dallas President Robert Kaplan boosted Treasury yields and the dollar against the yen overnight. Electronics parts maker Sharp rose 1.8% to 333 yen, Sony shares rose 0.69% to 3,478 yen, construction machinery maker Komatsu gained 1.8% to 2,710.5 yen and Nomura Holdings added 1.2% to 729.3 yen. Uniqlo operator Fast Retailing, a market heavyweight, was up 0.68% to close at 35,490 yen.

Defense-linked companies also rose on speculation of stronger demand following news that President Trump will call for a $20 billion boost in military spending when he addresses Congress. Industrial-machine maker IHI advanced 3.6% to 350 yen and Kawasaki Heavy Industries climbed 1.4% to 353 yen.

Takata fell 0.18% to 552 yen after the airbag maker pleaded guilty to fraud and agreed to pay a billion-dollar fine to settle suits over the defective safety devices.

Toshiba dropped 3.52% to 208.2 yen after Japans Mainichi newspaper reported that the loss-hit conglomerate aims to raise up to 2.5 trillion yen ($22 billion) by selling all of its prized microchip business.Telecom NTT DoCoMo lost 0.76% to finish at 2,667 yen after reports said it will likely get $1.17 billion in compensation from Indias Tata group for liquidating their joint venture.

China Stocks close edge higher

Mainland China stock market closed edge higher in thin trading, as caution over market overheating after a steady run-up in recent months pushed the main index near its late-November peak. Sector performance was mixed, with property, energy, logistics, and delivery companies led the rally, offsetting a drop in steel and liquor stocks. At the close, the blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, was up 0.19% to close at 3,452.81. The Shanghai Composite Index added 0.4% to close at 3,241.73. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.63% to 2001.32. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, was edge up 0.02% to 1,927.16 points.

SF Express shares jumped 10% in Shenzhen, rising by its daily limit for a fourth straight day. The share ended at 66.8 yuan. The company completed its back-door listing on Friday after buying Shenzhen-listed Maanshan Dingtai Rare Earth & New Material Co.

Zhejiang People Culture, a takeover target of mainland actress Zhao Wei, slumped 10% in Shanghai to 15.2 yuan, as securities regulators announced plans late on Monday to investigate the company.

Jiangsu Ankura Smart Transmission Engineering Technology, a manufacturer of high-voltage connectors and components, jumped by its allowable 44% limit to 35.11 yuan, from an offering price of 24.38 yuan, in debut trade in Shenzhen.

Hong Kong Stocks fall

The Hong Kong stock market closed down for fourth straight session, as caution prevailed in the market ahead of U.S. President Donald Trumps speech before Congress late today. The Hang Seng Index dropped 0.8% or 184.3 points to 23740.73, while the Hang Seng China Enterprises Index eased 0.3% to 10,297.96. Turnover decreased slightly to HK$73.1 billion from HK$74.5 billion on Monday. For February, Hong Kong stocks gained 1.63%, adding to gains in January when the index rallied 6.18%.

Macau casinos shrugged off the weak sentiment, driven by improved earnings. Galaxy Entertainment added 0.3% to HK$37.2 after it posted a 51% rise in 2016 net profit. Sands China was the biggest gainer among the Hang Seng components, rising 1.1% to HK$32.4. SJM Holdings added 0.2% to close at HK$6.4.

Oil prices were little moved but oilfield service providers saw robust buying orders. Jutal Offshore Oil Services (03303) surged 15% to HK$1.73. It has risen for four consecutive days, with a combined gain of 28%.

CLP Holdings, the larger of Hong Kongs two electricity suppliers, gained 1% to HK$79 after it reported stable growth in operating profit on Monday. Nomura is bullish on CLP Holdings (00002) noting its stable earnings and dividend growth. Deutsche Bank also sees a better prospect for the companys Australian business.

China Yuhua Education, which provides private education in China, closed 2% higher in debut trade at HK$ 2.1, after surging as much as 10.7% from its IPO price of HK$2.05 in the morning trading session.

Sensex, Nifty settle at over one-week low

Indian benchmark indices dropped in a volatile session of trade as investors await an address that US President Donald Trump is scheduled to make to Congress in the global day today. The barometer index, the S&P BSE Sensex, fell 69.56 points or 0.24% to settle at 28,743.32. The Nifty 50 index fell 17.10 points or 0.19% to settle at 8,879.60. Both the Sensex and the Nifty settled at over one-week low. Private bank stocks saw mixed trend. PSU bank stocks rose. Most realty stocks rose. Shares of public sector oil marketing companies declined. Cement shares saw mixed trend.

State Bank of Travancore rose 0.64%. The bank announced the revision of Marginal Cost of Funds Based Lending Rate (MCLR) from 1 March 2017. The announcement was made before market hours today, 28 February 2017.

BPCL fell 5.42% on turning ex-dividend today, 28 February 2017 for an interim dividend of Rs 19.50 per share for the year ending 31 March 2017 (FY 2017).

Tata Steel rose 0.37% after the company said its first greenfield ferro-chrome plant at Gopalpur has started production. The announcement was made during market hours today, 28 February 2017.

Engineering and construction major L&T rose 0.14%. The company said that its wholly-owned subsidiary, L&T Hydrocarbon Engineering (LTHE), signed an enterprise framework agreement (EFA) with Shell Global Solutions International B.V., for providing engineering, procurement and construction management (EPCM) services for Shell projects in the Middle East, South East AsIa and India.

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Hong Kong Stocks fall ahead of Trump policy address
Feb 28,2017

The Hong Kong stock market closed down for fourth straight session on Tuesday, 28 February 2017, as caution prevailed in the market ahead of U.S. President Donald Trumps speech before Congress late today. The Hang Seng Index dropped 0.8% or 184.3 points to 23740.73, while the Hang Seng China Enterprises Index eased 0.3% to 10,297.96. Turnover decreased slightly to HK$73.1 billion from HK$74.5 billion on Monday. For February, Hong Kong stocks gained 1.63%, adding to gains in January when the index rallied 6.18%.

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China Stocks close edge higher
Feb 28,2017

Mainland China stock market closed edge higher in thin trading on Tuesday, 28 February 2017, as caution over market overheating after a steady run-up in recent months pushed the main index near its late-November peak. Sector performance was mixed, with property, energy, logistics, and delivery companies led the rally, offsetting a drop in steel and liquor stocks. At the close, the blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, was up 0.19% to close at 3,452.81. The Shanghai Composite Index added 0.4% to close at 3,241.73. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.63% to 2001.32. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, was edge up 0.02% to 1,927.16 points.

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