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Mixed finish for US stocks
Sep 15,2016

The stock market ended the midweek affair on a mixed note on Wednesday, 14 September 2016, as investors favored a cautious approach ahead of a plethora of economic data and the latest policy statement from the Bank of England. The Dow industrial and the S&P 500 closed in negative territory Wednesday in the wake of slumping crude-oil prices, erasing earlier gains for the major benchmarks, while the tech-heavy Nasdaq bucked the losing trend.

The Dow Jones Industrial Average slid 31.98 points, or 0.2%, to close at 18,034.77. The S&P 500 index fell 1.25 points to end at 2,125.77, weighed by a 1.2% drop in the energy sector. The Nasdaq Composite Index advanced 18.52 points, or 0.4%, to close at 5,173.77.

In the tech sector, Apple climbed 3.6% as analysts outlined reasons the tech giant is still a buy. However, the tech giants gains were overshadowed by big declines in IBM and Boeing.

The economic calendar was relatively thin on Wednesday. Market reaction to the August import-price index was muted. Import prices slipped 0.2% due to lower oil, while export prices dropped 0.8%, driven by a fall in farm crop prices.

Shares of Monsanto rose 0.6% after Bayer raised its offer for the U.S. seeds major to $128 a share. Both companies announced Wednesday that they had approved the deal.

Ford Motor Co. fell 1.9% after the car maker outlined plans to deliver profitable growth for the next several years, including investing in electric and autonomous vehicles.

The benchmark 10-year Treasury slid 4.3 basis points to 1.691%.

But as crude oils decline accelerated, stocks failed to capitalize on their gains. A report on oil supplies published by the Energy Information Administration showed inventories declined by 600,000 barrels last week, much smaller than the 14.5 million barrel drop from the week before. Oil prices briefly spiked after the report, but have since turned lower as analysts concluded that the sector is still bogged down by excess inventory. West Texas Intermediate crude for October delivery settled at a two-week low.

Bullion prices ended higher at Comex. Gold futures settled higher on Wednesday, as support from a retreat in the U.S. dollar prompted prices to snap a five-day slide. But investors remained wary ahead of next weeks meetings for the U.S. Federal Reserve and Bank of Japan that may yield changes to monetary policy.

December gold rose $2.40, or 0.2%, to settle at $1,326.10 an ounce. December silver rose 9.1 cents, or 0.5%, to $19.066 an ounce.

Todays participation was above the recent average as more than 878 million shares changed hands on the NYSE floor.

Tomorrows economic data will include weekly initial claims, Retail Sales for August, PPI for August, the Philadelphia Fed Survey for September, the second quarter Current Account Balance and Empire Manufacturing for September each crossing the wires at 8:30 ET. Separately, Industrial Production and Capacity Utilization for August will be released at 9:15 ET while Business Inventories for July will cross the wires at 10:00 ET.

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Asia Pacific Market: Stocks sluggish on Fed rate uncertainty
Sep 14,2016

Asia Pacific share market closed mostly down on Wednesday, 14 September 2016, on tracking fall in the Wall Street overnight and plunge in crude oil prices. Meanwhile uncertainty over central banks next moves also hurt risk appetite. The MSCI Asia Pacific Index sank 0.7% to 136.21.

All eyes are on the Federal Open Market Committee (FOMC) meeting on Sept. 20-21 as traders anxiously wait for clues on whether the Fed will raise interest rates soon. Few traders expect a rate hike next week and markets are pricing in only a roughly 50-50 chance of one in December.

Japans central bank is also scheduled to meet next week, with speculation has grown that the BOJ will reduce its purchases of super-long bonds to let the yield curve steepen while maintaining a negative rate on excess reserves. Some also expect the BOJ could cut the rate deeper into negative territory in the future.

Crude oil prices recovered ground in Asian trade after suffered heavy losses overnight after the International Energy Agency (IEA) warned in its latest market update that it may take longer for oil prices to re-balance, citing a faster-than-expected slowdown in global oil demand growth.

During Asian trade on Wednesday, U.S. crude futures rebounded modestly, up 0.82% at $45.27 a barrel, following a 3% drop overnight. Global benchmark Brent added 0.62% to $47.39, after falling 2.5% on Tuesday.

The Paris-based International Energy Agency (IEA) projects that global oil demand growth is slowing at a faster pace than initially predicted. It now forecasts demand to grow 1.3M bpd this year, down -0.1M bpd estimated last month, before moderating to 1.2M bpd in 2017. On the supply side, IEA noted that world oil supplies dropped -0.3M bpd in August, as non-OPEC output fell. However, OPEC production remained elevated during the period, rising to 33.47M bpd in August, testing record rates as Middle East producers opened the taps. IEA estimated that OPEC supply was 0.93M bpd above the same period last year. According to IEA, this supply-demand dynamic may not change significantly in the coming months. Supply will continue to outpace demand at least through the first half of next year.

That followed remarks from the Organization of the Petroleum Exporting Countries (OPEC) earlier this week that key central bank decisions, such as the one due in the U.S. later this month, would be crucial in determining the state of global growth and the overall health of the energy sector.

If the U.S. Federal Reserve does raise interest rates later this month, it would likely strengthen the dollar, which would make dollar-denominated oil trades more expensive for buyers holding other currencies. That could, in turn, hamper global demand and consumption.

Among Asian bourses

Australia Market rises for first time in five

Australian share market advanced for first time in five sessions in row, as gains in telecom, financial, and consumer staples were more than offset by losses in materials and resources. At close of trade, the benchmark S&P/ASX 200 index rose 19.90 points, or 0.38%, to 5,227.70, while the broader All Ordinaries index has gained 16.60 points, or 0.31%, to 5,326.60. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 589 to 457 and 348 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 9.17% to 16.704.

Telecommunications put in the strongest performance overall, jumping by 2.4%. Unsurprisingly, Telstra just happened to close with a gain of 2.6%.

Resources and energy stocks were under pressure as a strengthening US dollar weighed heavily on commodities. Among energy shares, Woodside Petroleum was 0.7% lower, Oil Search lost 0.9% and Santos sank 5.7%. Crude-oil prices retreated overnight after the Paris-based International Energy Agency cut its 2016 demand growth forecast by 100,000 barrels a day to 1.3 million. That came a day after a report from the Organization of the Petroleum Exporting Countries that pointed to a world still awash in crude. In the mining space, BHP Billiton and Rio Tinto were down 1% and 1.3%, respectively. Iron-ore producer Fortescue Metals Group was 1.7% weaker, and gold miner Newcrest Mining fell 0.5%.

Financial stocks also added strength to bourse, with all big four banks rose. Westpac Banking Corp added 1.5%, Commonwealth Bank of Australia picked up 1% and Australia & New Zealand Banking Group and National Australia Bank each added 0.6%. CYBG, the British lender spun off by National Australia Bank early this year, dropped 5.2% after it told investors in London it was targeting further cost cuts and expected to deliver a double-digit return on tangible equity a year earlier than originally planned.

Japan Stocks falls on weak global cues

The Japan share market ended lower, dragged down by tracking negative lead from Wall Street overnight. Meanwhile, sentiments were downbeat on growing speculation that the Bank of Japan will maintain the negative rate on excess reserves at the policy meeting next week and could even lower the rate in the future. The 225-issue Nikkei lost 114.80 points, or 0.69%, to finish at 16,614.24 on the Tokyo Stock Exchange. The Topix index of all first-section issues lost 8.25 points, or 0.62%, to close at 1,314.74. Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 1354 to 543 and 161 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 2.40% to 23.02.

Banks stocks suffered on concerns about short investment horizon which tend to suffer from low short-term rates. Speculation has grown that the BOJ will reduce its purchases of super-long bonds to let the yield curve steepen while maintaining a negative rate on excess reserves. Some also expect the BOJ could cut the rate deeper into negative territory in the future. Mitsubishi UFJ Financial Group Inc. fell 3.2% to 507.5 yen. Sumitomo Mitsui Trust Holdings Inc. lost 2.1% at Y336.3.

A bright spot for the market was life insurance companies. Life insurers are less sensitive to short-term interest rates and tend to benefit from higher, longer-term rates. Dai-ichi Life Insurance Co. rose 4.3% to Y1,476.0. Japan Post Insurance Co. gained 4.6% to Y2,282.

Apple supplier Alps Electric Co. rose 4% after reports iPhone 7 orders at some U.S. carriers surged past prior models. Japan Display Inc. advanced 4.7%.

China Stocks retreat to lowest level in a month

Mainland China stock market closed at lowest level in a month on the last trading day of this week, as investors sold stocks on uncertainty over whether the Federal Reserve will raise interest rates next week. All SSE sectors except technology issue lost ground, with blue chip players in telecom, industrials, consumer staples, energy, financials and utilities sectors hit the hardest. The CSI300 index of the largest listed companies in Shanghai and Shenzhen eased 0.66%, to 3,238.73 points, while the Shanghai Composite Index lost 0.68% to 3,002.85 points. The gauge has lost 2.5% this week, amid a jump in the cost of borrowing the yuan in Hong Kong. China stock market will close on Thursday and Friday for mid-Autumn Festival.

China Petroleum & Chemical Corp. fell 1.2%, after U.S. oil prices slumped 3% on Tuesday amid concern a global supply glut will persist.

A measure of consumer-discretionary shares declined 1% as Midea Group Co. slid to its lowest close since July 11 and FAW Car Co. retreated from a three-week high.

Chinese banks granted net new loans of CNY948.7 billion in August, the Peoples Bank of China announced Wednesday, sharply higher than the new loans of CNY463.6 billion in July 2016. M2 was up 11.4% on year at the end of August, higher than the 10.2% increase in July.

Hong Kong Market closes softer

The Hong Kong stock market declined modestly on tracking plunge in U.S. equities overnight and on caution ahead of next weeks Federal Reserve policy meeting. The benchmark Hang Seng Index declined 25.12 points, or 0.11%, to 23190.64 points. The Hang Seng China Enterprises Index, a benchmark measure of performance of mainland China enterprises, slipped 28.54 points, or 0.3%, to 9542.52. Turnover decreased to HK$60.9 billion from HK$73.5 billion on Tuesday.

Sands China (01928) rose 1% to HK$34.15. The companys casino Parisian opened last night. Deutsche Bank deemed it eye-catching feature and a must-see destination. Galaxy Entertainment (00027) climbed 2% to HK$28.6.

Oil prices plunged 3% as OPEC and IEA forecast oversupply may extend to next year. CNOOC (00883) slipped 1.2% to HK$9.37. Sinopec (00386) and PetroChina (00857) fell 1% to HK$5.31 and HK$4.99.

Sensex, Nifty rebound

Indian shares snapped a two-session losing streak to close slightly higher, led by a recovery in bank stocks, but sentiment remained weak on concerns over the ability of global central banks to prop up growth. The barometer index, the S&P BSE Sensex, rose 18.69 points or 0.07% to settle at 28,372.23. The Nifty 50 index rose 11 points or 0.13% to settle at 8,726.60.

Coal India shares fell after the company reported a 15% fall in its first-quarter profit. Tata Steel declined to its lowest in a month after reporting a wider first-quarter loss on sale of a business in Europe.

Domestic sentiment remained weak as Indias industrial production (IIP) fell 2.4% in July 2016 over the same month last year. Industrial production expanded 2.1% in June 2016 over the year-ago month.

Meanwhile, foreign funds sold shares worth Rs. 593.61 crore on Monday, as per the provisional data released by the stock exchanges.

Elsewhere in the Asia Pacific region: New Zealands NZX50 fell 0.5% to 7210.72. Taiwans Taiex index slumped 0.4% to 8902.30. Singapores Straits Times index shed 0.3% to 2809.35. Indonesias Jakarta Composite index shed 1.3% to 5146.04. Malaysias KLCI eased 0.9% to 1661.39. South Korea market closed for holiday.

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Hong Kong Market closes softer
Sep 14,2016

The Hong Kong stock market declined modestly on Wednesday, 14 September 2016, on tracking plunge in U.S. equities overnight and on caution ahead of next weeks Federal Reserve policy meeting. The benchmark Hang Seng Index declined 25.12 points, or 0.11%, to 23190.64 points. The Hang Seng China Enterprises Index, a benchmark measure of performance of mainland China enterprises, slipped 28.54 points, or 0.3%, to 9542.52. Turnover decreased to HK$60.9 billion from HK$73.5 billion on Tuesday.

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China Stocks retreat to lowest level in a month
Sep 14,2016

Mainland China stock market closed at lowest level in a month on the last trading day of this week on Wednesday, 14 September 2016, as investors sold stocks on uncertainty over whether the Federal Reserve will raise interest rates next week. All SSE sectors except technology issue lost ground, with blue chip players in telecom, industrials, consumer staples, energy, financials and utilities sectors hit the hardest. The CSI300 index of the largest listed companies in Shanghai and Shenzhen eased 0.66%, to 3,238.73 points, while the Shanghai Composite Index lost 0.68% to 3,002.85 points. The gauge has lost 2.5% this week, amid a jump in the cost of borrowing the yuan in Hong Kong. China stock market will close on Thursday and Friday for mid-Autumn Festival.

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Japan Stocks falls on weak global cues
Sep 14,2016

The Japan share market ended lower on Wednesday, 14 September 2016, dragged down by tracking negative lead from Wall Street overnight. Meanwhile, sentiments were downbeat on growing speculation that the Bank of Japan will maintain the negative rate on excess reserves at the policy meeting next week and could even lower the rate in the future. The 225-issue Nikkei lost 114.80 points, or 0.69%, to finish at 16,614.24 on the Tokyo Stock Exchange. The Topix index of all first-section issues lost 8.25 points, or 0.62%, to close at 1,314.74. Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 1354 to 543 and 161 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 2.40% to 23.02.

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Australia Market rises for first time in five
Sep 14,2016

Australian share market advanced for first time in five sessions in row on Wednesday, 14 September 2016, as gains in telecom, financial, and consumer staples were more than offset by losses in materials and resources. At close of trade, the benchmark S&P/ASX 200 index rose 19.90 points, or 0.38%, to 5,227.70, while the broader All Ordinaries index has gained 16.60 points, or 0.31%, to 5,326.60. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 589 to 457 and 348 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 9.17% to 16.704.

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Asia Pacific Market: Stocks fall on fears of Fed interest rate hike
Sep 12,2016

Asia Pacific share market ended down on Monday, 12 September 2016, as fears the Federal Reserve will soon raise interest rates continued to spook investors out of risky assets. Meanwhile, selloff pressure followed on growing concerns that the European Central Bank and the Bank of Japan may be slowing their monetary policy easing efforts.

Stocks met with selling from the outset of trading after the U.S. Dow Jones industrial average tumbled over 390 points on Friday on the back of growing speculation about an interest rate hike by the U.S. Federal Reserve, possibly next week, following remarks by a senior Fed official.

Federal Reserve Bank of Boston President Eric Rosengren said in a speech, n++My personal view is that a reasonable case can be made for continuing to pursue a gradual normalization of monetary policy,n++ noting, n++It is quite possible that we will reach or even exceed full employment over the course of the next year.n++His remarks splashed cold water on the market as he had been considered a dovish policymaker in the Fed.

Since December, Federal Reserve chair Janet Yellen has repeated that future rate rises would be gradual, depending on jobs growth and inflation rising closer to the Feds target of 2%. However, after nine months without further action, Mr Rosengrens comments have been interpreted as a sign that next weeks Fed meeting may be the time for an overdue rate hike.

Three more Fed officials are expected to speak later on Monday, including board member and noted dove Lael Brainard, who is known to be dovish on rates, and any hint of hawkishness would likely further pressure bonds and equities.

Risk was also off the table on concerns that there is a possible slowdown in the monetary easing efforts of the European Central Bank (ECB) and the Bank of Japan (BoJ) as well. As per reports, the Bank of Japan may look to steepen the Japanese yield curve at a policy review this month, with markets worried that, if it goes down that path, tapering buying of long-dated bonds may be among the options. Super-low bond yields have made returns on equities seem relatively more attractive, so any sustained climb in yields would likely weigh on stock valuations.

Crude Oil prices extended Fridays 4% fall in Asia after reports showed increasing drilling activity in the United States, indicating that producers can operate profitably around current levels and bring on new supply. Brent crude was off 47 cents, or about 0.98%, at $47.54 a barrel, while U.S. crude lost 59 cents to $45.27.

Among Asian bourses

Australia ASX200 sinks 2.24%

Australian share market declined, as investor sentiment was rattled by tracking steep plunge in Wall Street on Friday amid concerns that the US Federal Reserve could be considering an imminent interest rate hike. All ASX sectors declined, with materials and resources, industrials, energy, realty, and financial issue being major losers. At close of trade, the benchmark S&P/ASX 200 index stumbled 119.60 points, or 2.24%, to 5,219.60, while the broader All Ordinaries index has lost 121.40 points, or 2.23%, to 5,319.10.

Resources and energy stocks were under severe pressure as a strengthening US dollar weighed heavily on commodities. In the mining space, mining giant BHP Billiton skidded 4% to A$19.94, its primary rival Rio Tinto lost 2.5% to A$47.41 and iron ore miner Fortescue weakened 5.1% to A$4.70. Among oil stocks, Oil Search sank 2.7% to A$6.58, Woodside Petroleum 2.7% t A$27.57, and Santos 5.3% to A$3.79 after crude oil prices extended Fridays 4% fall in Asia after reports showed increasing drilling activity in the United States, indicating that producers can operate profitably around current levels and bring on new supply.

All big four banks fell, with Commonwealth Bank erasing 0.9% to a five-month low of A$70.22, while National Australia Bank dropped 2.6% to a one-month low of A$26.60, Westpac lost 1.7% to A$29.03, and ANZ fell 2.1% to A$26.19.

Japan Stocks tumble on rising US rate hike bets

The Japan share market ended steep lower, dragged down by renewed fears of a US Federal Reserve interest rate hike in the near term and a slump in oil prices. Meanwhile, risk aversion selloff fuelled further amid concerns that the European Central Bank and the Bank of Japan may be slowing their monetary policy easing efforts. Every industry category on the main section lost ground, led by mining, iron and steel, and financial issues. The 225-issue Nikkei lost 292.84 points, or 1.73%, to finish at 16,672.92 on the Tokyo Stock Exchange. The Topix index of all first-section issues lost 20.76 points, or 1.54%, to close at 1,323.10

Export-oriented names were downbeat, including automaker Toyota, camera maker Canon, electronic parts producer Murata Manufacturing and industrial robot maker Fanuc. Oil wholesalers Inpex, Japex and JX Holdings also met with selling, due to lower crude oil prices.

Kumiai Chemical Industry sagged 12.4%, after the agrochemical manufacturer on Friday downgraded its profit forecast for the business year through October.

Ono Pharmaceutical shed 2.8%, after the Nikkei business daily reported Saturday that a U.S. cancer drug is set to be approved by the Japanese government for treatment, the first rival product for the drugmakers Opdivo.

Don Quijote Holdings declined 3.1%, after the discount store operator said Friday its sales in August fell from a year earlier on a same-store basis.

Benesse Holdings was down 2.4%, after the correspondence education service provider said Friday it will replace its president in October following a reshuffle only three months ago, raising concern about the firms management.

Coca-Cola East Japan gained 1.4%, after the beverage company on Friday upgraded its profit projection for the business year through December.

China Stocks retreat on possible U.S. rate hike

Mainland China stock market closed lower, as investors sold stocks and riskier assets, including commodities, on fresh talk of an interest rate hike by the Federal Reserve in the near term. Most listed companies saw falling shares, with industrial giants in resources, finance and automobile sectors hit the hardest. The CSI300 index of the largest listed companies in Shanghai and Shenzhen eased 1.67%, to 3,262.60 points, while the Shanghai Composite Index lost 1.85% to 3,021.98 points.

Most listed companies saw falling shares, with industrial giants in resources, finance and automobile sectors hit the hardest. Zhongjin Gold lost 5.82% to close at 12.31 yuan and Ping An Bank fell 2.35% to close at 9.16 yuan.

Hong Kong Market stumbles 3.36%

The Hong Kong stock market fell back sharply, dragged down by a plunge in U.S. equities late last week amid growing speculation about an interest rate hike by the U.S. Federal Reserve, possibly next week, following remarks by a senior Fed official. The benchmark Hang Seng Index stumbled 809.10 points, or 3.36%, to 23290.60 points. The Hang Seng China Enterprises Index, a benchmark measure of performance of mainland China enterprises, slipped 403.89 points, or 4.02%, to 9654.08. Turnover decreased to HK$94.6 billion from HK$116.8 billion on Friday.

Belle (01880) was unchanged at HK$5.18, becoming the best performing blue chip. The company reported 2Q footwear SSS declined 10%, but both Macquarie and Credit Suisse issued bullish comment on the companys outlook.

Property counters were lower on rising expectations for rate hike. CK Property (01113) slipped 3.8% to HK$56.25. Henderson Land (00012) softened 3.4% to HK$45.8.

Chinese banks are actively launching different measures to speed up the disposal of bad debts. CCB (00939) plunged 5.4% to HK$5.77. ICBC (01398) slid 4.6% to HK$4.83. BOC (03988) fell 4.3% to HK$3.56. AAC Tech (02018) dived 8.4% to HK$79.3. It was the worst blue-chip loser today.

Oil majors were lower as oil prices slid 4%. Sinopec (00386) fell 2.7% to HK$5.42. CNOOC (00883) slipped 2.7% to HK$9.43.

India Nifty settles at 2-week low

Indias benchmark stock indices fell the most in two-and-a-half months, in line with a meltdown in world equities, as fears that the US Federal Reserve may raise rates as early as September triggered a flight to safety. The barometer index, the S&P BSE Sensex, lost 443.71 points or 1.54% to settle at 28,353.54. The Nifty fell 151.10 points or 1.7% to settle at 8,715.60. The Sensex settled at almost 2-week low.

Banks stocks declined after Fitch Ratings has said in a report that the progressive increase in minimum capital requirements under Basel III is likely to put nearly half of Indian banks in danger of breaching capital triggers. State-run banks are the most at risk, given their poor existing capital buffers and weak prospects for raising capital through market channels, Fitch said. Fitch estimates that Indian banks will require around $90 billion in new capital by FY 2019 to meet Basel III standards, with the state banks accounting for about 80% of the total. According to Fitch, state-run banks will continue to face difficulties in raising capital from the market, which will keep their Viability Ratings under pressure and will weigh on the sector outlook.

Housing Development and Infrastructure (HDIL) fell 10.85% after consolidated net profit fell 30% to Rs 40.89 crore on 2.7% decline in total income to Rs 265.21 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016. HDIL said that it follows project completion method and accordingly results on quarter to quarter basis may not be comparable.

Reliance Defence & Engineering dropped 13.51% after the company reported net loss of Rs 134.50 crore in Q1 June 2016 compared with net loss of Rs 167.27 crore in Q1 June 2015. Total income dropped 34.21% to Rs 74.18 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

Lanco Infratech shed 6.43% after the company reported consolidated net loss of Rs 448.88 crore in Q1 June 2016 higher than net loss of Rs 316.27 crore in Q1 June 2015. Net total income from operations rose 10.1% to Rs 1727.99 crore in Q1 June 2016 over Q1 June 2015..

Elsewhere in the Asia Pacific region: South Koreas KOSPI index fell 2.3% to 1991.50. Taiwans Taiex index slumped 1.2% to 8947.06. Stock market in Singapore, Malaysia, and Indonesia closed for official holiday.

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Hong Kong Market stumbles 3.36%
Sep 12,2016

The Hong Kong stock market fell back sharply on Monday, 12 September 2016, dragged down by a plunge in U.S. equities late last week amid growing speculation about an interest rate hike by the U.S. Federal Reserve, possibly next week, following remarks by a senior Fed official. The benchmark Hang Seng Index stumbled 809.10 points, or 3.36%, to 23290.60 points. The Hang Seng China Enterprises Index, a benchmark measure of performance of mainland China enterprises, slipped 403.89 points, or 4.02%, to 9654.08. Turnover decreased to HK$94.6 billion from HK$116.8 billion on Friday.

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China Stocks retreat on possible U.S. rate hike
Sep 12,2016

Mainland China stock market closed lower on Monday, 12 September 2016, as investors sold stocks and riskier assets, including commodities, on fresh talk of an interest rate hike by the Federal Reserve in the near term. Most listed companies saw falling shares, with industrial giants in resources, finance and automobile sectors hit the hardest. The CSI300 index of the largest listed companies in Shanghai and Shenzhen eased 1.67%, to 3,262.60 points, while the Shanghai Composite Index lost 1.85% to 3,021.98 points.

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Japan Stocks tumble on rising US rate hike bets
Sep 12,2016

The Japan share market ended steep lower on Monday, 12 September 2016, dragged down by renewed fears of a US Federal Reserve interest rate hike in the near term and a slump in oil prices. Meanwhile, risk aversion selloff fuelled further amid concerns that the European Central Bank and the Bank of Japan may be slowing their monetary policy easing efforts. Every industry category on the main section lost ground, led by mining, iron and steel, and financial issues. The 225-issue Nikkei lost 292.84 points, or 1.73%, to finish at 16,672.92 on the Tokyo Stock Exchange. The Topix index of all first-section issues lost 20.76 points, or 1.54%, to close at 1,323.10

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ASX200 sinks 2.24%
Sep 12,2016

Australian share market declined on Monday, 12 September 2016, as investor sentiment was rattled by tracking steep plunge in Wall Street on Friday amid concerns that the US Federal Reserve could be considering an imminent interest rate hike. All ASX sectors declined, with materials and resources, industrials, energy, realty, and financial issue being major losers. At close of trade, the benchmark S&P/ASX 200 index stumbled 119.60 points, or 2.24%, to 5,219.60, while the broader All Ordinaries index has lost 121.40 points, or 2.23%, to 5,319.10.

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Asia Pacific Market: Stocks fall amid concerns about end of easy money
Sep 09,2016

Asia Pacific share market ended mostly down on Friday, 09 September 2016, as risk sentiments dampened on tracking the negative lead from Wall Street overnight, confirmation of North Korea fifth nuclear test, and on disappointment over the European Central Banks interest rate decision.

On Wall Street, stocks closed modestly lower on Thursday following the European Central Banks decision to leave interest rates unchanged. The ECB reiterated that its monthly asset purchases of 80 billion euro are intended to run until the end of March 2017, or beyond, if necessary. The Dow dipped 46.23 points or 0.3% to 18,479.91, the Nasdaq fell 24.44 points or 0.5% to 5,259.48 and the S&P 500 edge down 4.86 points or 0.2% to 2,181.30. The major European markets finished mixed on Thursday. While the U.K.s FTSE 100 Index edged up by 0.2%, the French CAC 40 Index dipped by 0.3% and the German DAX Index dropped by 0.7%.

The North Korean test put a worrisome spin on Asian markets with traders already fretting about the European Central Banks decision Thursday not to expand its stimulus program, defying expectations. North Korea conducted a fifth nuclear test hours after President Barack Obama wrapped up a tour of Asia, highlighting the U.S.s struggle to rein in the rising threat from dictator Kim Jong Un. Pyongyang declared a successful test hours after the U.S. Geological Survey detected a magnitude 5.3 earthquake near North Koreas nuclear test site in the countrys northeast early on Friday, a reading that surpassed the magnitudes of tremors set off by the countrys previous nuclear tests. North Korea confirmed in a statement released through its state media that it conducted a test explosion of a nuclear warhead. It said the test was successful and confirmed its ability to produce nuclear-tipped missiles n++at will.n++ It added that it would continue to build up its nuclear force in quality and quantity.

Risk sentiments also subdued amid heightened concerns that the Federal Reserve would raise interest rates sooner than later, which can boost the U.S. dollar and make debt denominated in the currency more expensive to emerging markets.

Among Asian bourses

ASX200 drops 0.87%

Australian share market closed down on tracking the negative lead from Wall Street overnight and on disappointment over the European Central Banks interest rate decision. All but two ASX sectors declined, with realty, healthcare, and financial issue leading falls. At close of trade, the benchmark S&P/ASX 200 index was down 46.60 points, or 0.87%, to 5,339.20, while the broader All Ordinaries index has lost 44.10 points, or 0.8%, to 5,440.50. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 620 to 457 and 319 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 12.58% to 15.191 a new 1-month high.

Banks and financials ended softer. The big four banks - Commonwealth Bank of Australia, Westpac, National Australia Bank and ANZ Bank - were lower in a range of 0.9% to 1.3%.

Shares of materials and energy companies advanced. In the mining space, BHP Billiton rose 0.9%, Rio Tinto 0.2% and Fortescue Metals 1%. Among oil stocks, Oil Search rose 2%, Woodside Petroleum 0.2% and Santos almost 2% following the increase in crude oil prices overnight.

Shares in Origin Energy leapt 5.5% after new chief executive Frank Calabria, who replaces Grant King, confirmed that he will continue the company focus on reducing debt and lifting shareholder returns.

Sigma Pharmaceuticals shares closed 9% higher, adding Thursdays 11% rise after the company lifted its earnings guidance and reported a solid half-yearly profit figure.

Defense and ship builder Austal bounced 5.4% following the successful delivery of its second high speed support vessel to the royal navy of Oman.

Japan Stocks closed mixed

The Japan share market ended mixed after a volatile ride, as concerns over a North Korean nuclear test countered hopes for additional easing measures from the bank this month. Notable issues that gained by the close of play comprised marine transportation and mining-related issues. But those that lost ground were led by food and fishery, and agriculture and forestry-linked stocks. The Nikkei average added 7 points, or 0.04%, to end at 16965.76. The Topic index eased 2.09 points, or 0.16%, to end at 1343.86. Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 1099 to 800 and 157 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 6.10% to 20.46.

Energy shares climbed as crude headed for a weekly surge of more than 6% following an unexpected drop in U.S. stockpiles. Petrochemical-products maker Showa Denko KK was among the biggest gainers on the Nikkei 225 Stock Average, climbing 5%.

Bowling-alley operator Round One Corp. tumbled 6% after August same-store sales dropped 4.6% from a year earlier.

Kyocera Corp. added 1.9% after BNP Paribas SA raised its rating on the electronics equipment manufacturer to hold from reduce.

China Market falls after August inflation readings

Mainland China stock market closed lower after official released data confirming its producer prices continued to drop in August, signaling flagging demand in the worlds second-largest economy, albeit at a slower pace. The CSI300 index of the largest listed companies in Shanghai and Shenzhen eased 0.64%, to 3,318.04 points, while the Shanghai Composite Index lost 0.55% to 3,078.85 points. For the week, the CSI300 index gained 0.1 percent while the SSEC edged up 0.4 percent.

Chinas producer price index (PPI), which measures costs for goods at the factory gate, posted a milder decline in August due to a low comparison base, official data showed. The PPI dropped 0.8 percent year on year in August, a narrower decrease than the 1.7 percent in July, the National Bureau of Statistics (NBS) said on Friday. The reading marked the 54th straight month of decline as Chinas economic slowdown and industrial overcapacity weighed on prices.

Also, growth in Chinas consumer price index weakened for the fourth consecutive month in August to indicate the lowest inflation rate in almost a year, which analysts said leaves room for China to loosen its monetary policy to stabilize economic growth. The CPI rose by 1.3 percent year-on-year, which is the lowest rise since October and down from 1.8 percent in July. The slackening growth can be attributed to falling food prices, the National Bureau of Statistics said in a statement on Friday.

Hong Kong Market rallies 0.75%

The Hong Kong stock market closed higher despite wider losses in the region, after a Chinese regulator said it would allow domestic insurers to invest in Hong Kong-listed stocks through a trading link with Shanghai. The China Insurance Regulatory Commissions announcement came less than a month after Beijing confirmed it would launch the Shenzhen-Hong Kong Stock Connect program within 2016. The benchmark Hang Seng Index advanced 180.36 points, or 0.75%, to 24099.70 points. The Hang Seng China Enterprises Index, a benchmark measure of performance of mainland China enterprises, rose 49.76 points, or 0.5%, to 10057.97. Turnover soared to HK$116.8 billion from HK$77.3billion on Thursday. The Hang Seng was up 0.8% for the week and has risen nearly 20.6% in the past six months.

The CIRCs message implies that hundreds of billion funds from mainland insurers may flow to HK. HKEx (00388) soared 5.5% to HK$209.6. It was the top blue-chip gainer.

Chinese brokerages were also chased by investors. CGS (06881) added 2.7% to HK$7.9. HTSC (06886) put on 2.1% to HK$17.7. CITIC Sec (06030) climbed 2.4% to HK$18.1. Local brokers were also higher. Bright Smart (01428) soared 11.5% to HK$3.19 as the company disclosed that it has been approached by potential investors in the company from time to time.

Apples iPhone 7 failed to trigger strong market response. Its supply chain OEMs retreated across the board. AAC Tech (02018) slid 4% to HK$86.6. It was the biggest blue-chip loser. Cowell (01415) plunged 5% to HK$2.95. Sunny Optical (02382) declined 4.9% to HK$38.6.

Sensex, Nifty hit lowest closing level in a week

Metal, auto sector stocks and index heavyweights ITC and HDFC led losses for key benchmark indices. The barometer index, the S&P BSE Sensex, lost 248.03 points or 0.85% to settle at 28,797.25. The Nifty fell 85.80 points or 0.96% to settle at 8,866.70.

Yes Bank dropped after the bank announced deferring its proposed qualified institutional placement (QIP) of shares.

Steel Authority of India edged lower after the company reported higher net loss in Q1 June 2016 compared to net loss in Q1 June 2015.

Jindal Steel & Power dropped after the company reported higher net loss in Q1 June 2016 compared to net loss in Q1 June 2015.

IDBI Bank rose 5.22% on reports that Asian Development Bank (ADB) has held talks with the government to acquire stake in the state-run bank.

Elsewhere in the Asia Pacific region: New Zealands NZX50 fell 0.9% to 7468.60. South Koreas KOSPI index fell 1.3% to 2037.87. Taiwans Taiex index slumped 2.3% to 9053.69. Singapores Straits Times index shed 0.7% to 2873.33. Indonesias Jakarta Composite index shed 1.7% to 5281.92. Malaysias KLCI eased 0.3% to 1686.44.

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Hong Kong Market rallies 0.75%
Sep 09,2016

The Hong Kong stock market closed higher on Friday, 09 September 2016, despite wider losses in the region, after a Chinese regulator said it would allow domestic insurers to invest in Hong Kong-listed stocks through a trading link with Shanghai. The China Insurance Regulatory Commissions announcement came less than a month after Beijing confirmed it would launch the Shenzhen-Hong Kong Stock Connect program within 2016. The benchmark Hang Seng Index advanced 180.36 points, or 0.75%, to 24099.70 points. The Hang Seng China Enterprises Index, a benchmark measure of performance of mainland China enterprises, rose 49.76 points, or 0.5%, to 10057.97. Turnover soared to HK$116.8 billion from HK$77.3billion on Thursday. The Hang Seng was up 0.8% for the week and has risen nearly 20.6% in the past six months.

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China Market falls after August inflation readings
Sep 09,2016

Mainland China stock market closed lower on Friday, 09 September 2016, after official released data confirming its producer prices continued to drop in August, signaling flagging demand in the worlds second-largest economy, albeit at a slower pace. The CSI300 index of the largest listed companies in Shanghai and Shenzhen eased 0.64%, to 3,318.04 points, while the Shanghai Composite Index lost 0.55% to 3,078.85 points. For the week, the CSI300 index gained 0.1% while the SSEC edged up 0.4%.

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ASX200 drops 0.87%
Sep 09,2016

Australian share market closed down on Friday, 09 September 2016, on tracking the negative lead from Wall Street overnight and on disappointment over the European Central Banks interest rate decision. All but two ASX sectors declined, with realty, healthcare, and financial issue leading falls. At close of trade, the benchmark S&P/ASX 200 index was down 46.60 points, or 0.87%, to 5,339.20, while the broader All Ordinaries index has lost 44.10 points, or 0.8%, to 5,440.50. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 620 to 457 and 319 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 12.58% to 15.191 a new 1-month high.

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