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China Stocks gain to 4-month high
Apr 11,2017

The Mainland China equity market recouped early losses to finish at a 15-month high on Tuesday, 11 April 2017, with stocks related to the Xiongan New Area being major gainers. The blue-chip CSI300 index rose 0.35 per cent to 3,517.33 points, while the Shanghai Composite Index added 0.6 per cent to 3,288.97 points.

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Hong Kong Stocks down on weak global cues
Apr 11,2017

The Hong Kong stock market closed session down for fourth straight session in cautious trade on Tuesday, 11 April 2017, amid geopolitical uncertainties of East Asia. The benchmark index opened up 18 points at 24,280. It then moved down, and hit an intra-day low of 24,007 (down 255 points) at one stage. But A-share market rally help support the local sentiment. The benchmark Hang Seng index dropped 0.7 per cent at the close, to 24,088.46, while the Hong Kong China Enterprises Index lost 0.9 per cent, to 10,165.98. Turnover increased to HK$76.8 billion from HK$65 billion on Monday.

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US stocks eke out gains
Apr 11,2017

U.S. stocks eked out gains on Monday, 10 April 2017 as strength in energy shares helped to offset selling pressure sparked by geopolitical concerns, but market sentiment remained cautious going into the first-quarter earnings season.

The Dow Jones Industrial Average rose 1.92 points to finish at 20,658.02. The Nasdaq Composite Index gained 3.11 points to end at 5,880.93. The S&P 500 index edged up 1.62 points to close at 2,357.16.

The stock market opened the week with a win, but concerns over heightened geopolitical tensions held gains in check throughout the session.

The days strongest sector was energy which rose 0.8% on the back of a firm gains in crude-oil prices. Crude has been in an uptrend, rising nearly 10% over the past two weeks and hitting its highest level since early March. A recent move higher followed the U.S. airstrike on Syria. Increased tension in the Middle East tends to boost oil prices by limiting supply levels.

Financials were among the weakest sectors of the day, with Bank of America down 0.6%, while Wells Fargo & Co. lost 0.6%.

Both energy and financials have been in focus of late as investors await earnings. On the flip side, the financials and telecom services groups settled at the bottom of the days leaderboard while the health care and technology groups performed only modestly better. The top-weighted technology sector suffered from a lackluster performance from Apple and selling pressure within the semiconductor industry.

Bullion metals ended lower at Comex on Monday, 10 APril 2017. Gold settled with a loss on Monday, after a brief rebound attempt failed to lift prices past a key technical level.

June gold fell $3.40, or 0.3%, to settle at $1,253.90 an ounce. During the session, however, prices briefly turned higher to touch an intraday high of $1,258.90. Meanwhile, silver for May delivery lost 23.6 cents, or 1.3%, to end at $17.915 an ounce.

Crude oil futures settled higher on Monday, 10 April 2017 stretching their wining streak to a fifth consecutive session, as the shutdown of Libyas largest oil field and uncertainty in the Middle East, following the U.S. airstrike on Syria, raised concerns over disruptions to global crude supplies. The U.S. benchmark has now posted gains in nine of the past 10 sessions.

May West Texas Intermediate crude tacked on 84 cents, or 1.6%, to settle at $53.08 a barrel on the New York Mercantile Exchange. That was the highest settlement since 7 March 2017.June Brent crude on Londons ICE Futures exchange added 74 cents, or 1.3%, to $55.98 a barrel.

Geopolitics remained front and center, not just in the Middle East. Libyas Sharara oil field was shut down on Sunday after an unknown group blocked a pipelinen++just a week after a previous shutdown.

The dollar, as measured by the ICE U.S. Dollar Index was down 0.2% in Monday dealings, helping dollar-denominated gold prices trade above the sessions worst levels. A weaker dollar tends to support commodities priced in the currency lifting their appeal to buyers using other monetary units.

In the Treasury market, the benchmark 10-yr yield settled two basis points lower at 2.36%.

Investors did not receive any economic data on Monday.

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US stocks end marginally lower
Apr 10,2017

U.S. stocks closed fractionally lower on Friday, 07 April 2017 posting weekly losses after staggering through a choppy session as investors digested weaker-than-expected March jobs data and President Donald Trumps late Thursday airstrike against Syria.

The Dow Jones Industrial Average finished down 6.85 points at 20,656.10. The Nasdaq Composite Index finished down 1.14 points at 5,877.81. The S&P 500 declined 1.95 points to close at 2,355.54, with six out of the indexs 11 sectors finishing lower as utilities, consumer-discretionary, and financials led decliners.

For the week, the Dow industrials declined less than 0.1%, while the S&P 500 shed 0.3% and the Nasdaq Composite Index fell 0.6%.

Wal-Mart Stores and defense contractor Boeing led gainers, while DuPont and Walt Disney weighed on the average.

Overnight, the U.S. Navy launched 59 Tomahawk missiles at the Shayrat base in Syria. The news of missile strikes weighed on equity futures, but a swift rebound took place in time for the release of the Employment Situation report for March.

Latest employment report stated that the U.S. economy created just 98,000 new jobs in March, well below the 185,000 consensus figure that was forecast. The unemployment rate, however, fell to 4.5% from 4.7% as the number of people who found work outstripped the labor force.

Bullion prices ended mixed at Comex on Friday, 07 April 2017 at Comex. Gold futures finished with gains on Friday, but ended well off a five-month high set earlier in the session, as strength in the U.S. dollar and a rebound in stocks cut into the rally that followed U.S. airstrikes on Syria. A much weaker-than-expected March jobs report had helped the yellow metal to extend gains, but the yellow metal pulled back later as the dollar rose.

Gold for June delivery rose $4 or 0.3%, to end at $1,257.30 an ounce. For the week, gold advanced 0.5%, while May silver SIK7, gave up earlier gains to end at $18.151 an ounce, down 9.5 cents, or 0.5%. Silver booked a weekly decline of 0.5%.

Oil futures ended at a one-month high on Friday, 07 April 2017 after a U.S. airstrike on Syria, though gains were capped by expectations risks to Middle East output would be limited. Crude held gains after data from oil-field services firm Baker Hughes showed U.S. producers added 10 oil rigs this week, bringing the total number to 672.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in May finished at $52.24 a barrel, a gain of 54 cents, or 1.04%. Oil had jumped 2.4% in electronic trade following the strikes. For the week, the U.S. benchmark rose 3.2%. June Brent crude on Londons ICE Futures exchange rose 35 cents, or 0.6%, to close at $55.24 a barrel after briefly dipping into negative territory after U.S. jobs data. Brent rose 3.2% for the week.

Treasuries spiked to highs immediately after the release of the jobs report, but reversed in short order and continued sliding into the close. The 2-yr yield (1.27%) and the 10-yr yield (2.37%) jumped three basis points apiece while the long bond resisted the pressure. The 30-yr yield increased one basis point to 3.00%.

Investor participation was a bit below average as 935 million shares changed hands at the NYSE floor.

Investors will not receive any economic data on Monday.

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China Stocks gain to 4-month highs
Apr 06,2017

The Mainland China equity market advanced to hit 4-month highs on Thursday, 06 April 2017, as investors continued to chase stocks which could benefit from the governments launch of a massive new economic zone near Beijing. The blue-chip CSI300 index rose 0.3% to 3,514.05 points, while the Shanghai Composite Index added 0.4% to 3,281.00. Shenzhens Component Index rose 0.3 per cent to 10,656.2 and the Nasdaq-like ChiNext edged up 0.06 per cent to 1,944.2.

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Japan Stocks end down on Fed minutes, firm yen
Apr 06,2017

The Japan share market closed down on Thursday, 06 April 2017, as weak U.S. shares overnight and the yens advance against the U.S. dollar weighed on market sentiment. Risk sentiments also weighed down on caution ahead of a two-day meeting between U.S. President Donald Trump and Chinese President Xi Jinping starting later in the day in Florida. Concerns over North Korea also weighed on the market. The benchmark Nikkei Stock Average fell 264.21 points, or 1.4%, to 18597.06, its lowest level since Dec. 7. The Topix index of all the Tokyo Stock Exchange First Section issues fell 24.48 points, or 1.6%, to 1480.18.

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Australia Shares fall on Fed
Apr 06,2017

Australian equity market closed down on Thursday, 06 April 2017, on following Wall Streets fall overnight, after the release of minutes from the U.S. Federal Reserve suggested the central bank was considering unwinding its easing program later this year. Investors were also wary ahead of a potentially tense meeting later on Thursday between U.S. President Donald Trump and his Chinese counterpart Xi Jinping. Topping the agenda will be whether Trump makes good on his threat to use U.S.-China trade ties to pressure Beijing to do more to rein in its nuclear-armed neighbour North Korea. At the close, the benchmark S&P/ASX 200 index declined 0.34% to 5,856.30.

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US stocks end higher
Mar 31,2017

U.S. stocks closed higher on Thursday, 30 March 2017 as financial shares rallied following a positive reading of economic growth and the tech-heavy Nasdaq returned to finish in record territory after a month-long wait.

The Dow Jones Industrial Average finished up 69.17 points, or 0.3%, at 20,728.49. gainers. The S&P 500 index closed up 6.93 points, or 0.3%, at 2,368.06, with seven out of the indexs 11 sectors finishing higher, led by gains in the financials, energy and industrial sectors.

The Nasdaq Composite Index climbed 16.80 points, or 0.3%, to close at a record 5,914.34 n++ its first record closing since March 1, and the 21st of the year n++ as it logged its fifth straight session of gains.

The S&P 500 moved into positive territory for March, up 0.2%, while the Dow remains down 0.4% for the month. The Nasdaq is up 1.5% in March.

Earlier, the government said the U.S. economy, as measured by gross domestic product, expanded at a 2.1% annualized pace in the fourth quarter, slightly faster than the previously reported 1.9% rate. Separately, jobless claims fell by 3,000 to 258,000 in the latest week, near their lowest level in decades.

The data helped support the gain in financial stocks, which are closely correlated to the pace of economic growth.

Muted trading has been the norm since Friday, when the Republican-led health-care bill was pulled from the House floor after the White House was unable to overcome resistance from a conservative GOP faction, the House Freedom Caucus. The failure raised questions about the Trump administrations ability to pass its economic agenda, which had been seen as market-friendly.

Cleveland Fed President Loretta Mester forecast GDP growth above 2% in 2017, and sees a n++sustained returnn++ to 2% inflation n++over the next year or so.n++ Mester also expects the Fed to raise interest rates again this year, but didnt say how many times might be likely. Currently, market participants anticipate three or four hikes in total over 2017.

Oil prices rose for a third straight session on Thursday, 30 March 2017 with U.S. benchmark crude topping $50 a barrel to finish at a more than three-week high. Larger-than-expected drawdowns in U.S. petroleum-product stockpiles and gains in refinery activity raised expectations of stronger demand for crude. Growing expectations that the Organization of the Petroleum Exporting Countries would agree to extend its production-cut agreement also contributed to oils price climb. Natural-gas prices, meanwhile, extended earlier declines after a weekly decline in domestic inventories of the fuel was in line with market expectations.

On the New York Mercantile Exchange, West Texas Intermediate crude for May delivery added 84 cents, or 1.7%, to settle at $50.35 a barrel. May Brent crude on Londons ICE Futures exchange rose 54 cents, or 1%, to $52.96, with the contract set to expire at Fridays settlement.

Bullion prices settled lower on Thursday, 30 March 2017. Gold prices fell adding to a monthly loss, as the U.S. dollar regained its footing above a key technical level and equities traded mostly higher, drawing some investor attention away from the precious metal.

June gold which is now the most-active contract, fell $8.80, or 0.7%, to settle at $1,248 an ounce. The June contract, which ended flat on Tuesday and lost roughly 0.2% on Wednesday, marked its lowest settlement since March 20. For the month, gold futures traded about 0.7% lower, but have gained 8.1% year to date. May silver ended at $18.206 an ounce, down 4.6 cents, or 0.3%.

The retreat for gold on Thursday came as the dollar, measured by the ICE U.S. Dollar Index climbed back above 100 after previously slipping below that level amid growing doubts about President Donald Trumps ability to implement dollar-boosting fiscal policies. The euro also weakened after a news report said European Central Bank officials had been alarmed by the market reaction to its March policy meeting.

A stronger dollar can weigh on commodities priced in the currency, making them less attractive to purchasers using other monetary units. The ICE U.S. Dollar Index was up 0.4% at 100.37, on track for a 0.6% gain this week.

Tomorrow, investors will receive a slew of economic reports, including February Personal Income (consensus 0.4%), Personal Spending (consensus 0.2%), and PCE Price Index (consensus 0.1%) at 8:30 ET, March Chicago PMI (consensus 55.8) at 9:45 ET, and the final University of Michigan Consumer Sentiment reading (consensus 97.6) at 10:00 ET.

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China Stocks extend fall on liquidity woes
Mar 29,2017

The Mainland China equity market ended down for third straight session on Wednesday, 29 March 2017, amid concerns about tightening liquidity conditions after the central bank refrained from injecting short-term funds into the banking system for the fourth session in a row. The blue-chip CSI300 index fell 0.1%, to 3,465.19 points, while the Shanghai Composite Index lost 0.4% to 3,241.31 points. The Shenzhen Composite Index extended losses by sliding 0.7% to 2,019 while the ChiNext start-up board index closed down 0.8% to 1,929

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Australia Shares at near 2-year highs on financials support
Mar 29,2017

Australian equities continued uptrend on Wednesday, 29 March 2017, pushing the benchmark indices to a near two-year high, underpinned by optimism over earnings for the financial sector after the countrys big four banks raised their home loan rates recently. At the close, the benchmark S&P/ASX 200 index finished at 0.9% higher or 52.26 points to 5873.5, its strongest level since mid-April 2015. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 637 to 455 and 351 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 4.26% to 11.748.

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Broad based rally at Wall Street
Mar 29,2017

U.S. stocks posted broad-based gains on Tuesday, 28 March 2017 with the Dow Jones Industrial Average snapping its eight-day losing streak, as investors cheered better-than-expected economic data. Attracting the most attention was a reading of consumer confidence in March, which soared to the highest level in more than 16 years. Separately, U.S. house prices roared to their highest in nearly three years as demand remains brisk.

The Dow rose 150.52 points, or 0.7%, to close at 20,701.50. The S&P 500 index advanced 16.98 points, or 0.7%, to finish at 2,358.57 and the tech-heavy Nasdaq Composite Index added 34.77 points, or 0.6%, to end at 5,875.14.

Apple led the gains on the blue-chip index to close at a record as its market capitalization topped $754 billion.

Even comments from Federal Reserve Vice Chairman Stanley Fischer that the central bank could hike rates two more times this year didnt dampen the buoyant sentiment. Tighter monetary policy is often viewed as a sign of economic health.

Tuesdays action follows a week of declines as investors questioned the ability of President Donald Trumps administration and that of congressional Republicans to implement tax cuts and other fiscal-policy measures after the failure to bring controversial health-care legislation to a vote on the House floor.

So far this week, the ICE U.S. Dollar Index has lost 0.6%. It traded nearly flat on Tuesday. U.S. equities traded on a mixed note for the session, with the Dow Industrials trying to snap an eight day losing streak.

Among economic reports expected for the day, the consumer confidence reading for March rose to 125.6 from the prior months revised reading of 116.1 (from 114.8). The consensus expected the survey to hit 113.3. The key takeaway from this report is that consumers were emboldened by a positive view of current business and labor market conditions. There was an improvement in the short-term outlook for business, jobs, and personal income prospects, and more upside is expected on these fronts.

The Advance report for International Trade in Goods for February showed a deficit of $64.8 billion (consensus -$66.1 billion), up from a revised deficit of $68.8 billion for January (from $69.2 billion). The Advance report for February Wholesale Inventories increased 0.4% (consensus 0.2%). The prior months reading was revised to -0.2% from -0.1%. Separatrely, the January Case-Shiller 20-city Index hit 5.7% to follow last months revised 5.5% increase (from 5.6%). The consensus expected a reading of 5.6%.

Bullion metals ended little higher at Comex on Tuesday, 29 March 2017. Gold futures traded flat on Tuesday as investors weighed the outlook for the Trump administrations fiscal-policy agenda following last weeks failed effort at overhauling the Affordable Care Act, known as Obamacare.

Gold for April delivery on Comex rose $1.50, or 0.1%, to $1,257 an ounce, while May silver was up 9.7 cents, or 0.5%, at $18.205 an ounce.

Oil prices settled at a roughly one-week high on Tuesday, 28 March 2017 buoyed by disruptions to Libyan crude production and talk of a six-month extension to an OPEC-led pact to limit global output.

May West Texas Intermediate crude oil n++the U.S. benchmark rose 64 cents, or 1.3%, to settle at $48.37 a barrel on the New York Mercantile Exchange. On the ICE Futures exchange in London, May Brent crude tacked on 58 cents, or 1.1%, to $51.33 a barrel.

Skeptics of the Organization of the Petroleum Exporting Countries deal to curb output have argued that the production cuts would be at least partially offset by Libya, which doesnt have an output quota under the deal. An armed group in Libya shut pipelines Monday because of a dispute over wage issues, disrupting production of 250,000 barrels a day. But the news follow reports last week that Libya planned to raise its output to 800,000 barrels a day by April, from current production of 700,000 barrels a day.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00 ET and February Pending Home Sales (consensus 2.4%) at 10:00 ET.

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US stocks end in mixed fashion
Mar 28,2017

U.S. stocks overcame steep losses on Monday, 27 March 2017 but the Dow Industrials and S&P 500 still closed lower as investors reassessed the prospects for President Donald Trumps ambitious economic agenda after a Republican plan to repeal and replace Obamacare was scrapped last week.

The Dow Jones Industrial Average marked its longest losing streak since August 2011 with eight straight declines, closing down 45.74 points or 0.2%, at 20,550.98, after overcoming an earlier 184-point deficit. The S&P 500 slid 2.39 points, or 0.1%, to close at 2,341.59, as seven out of 11 sectors finished lower. The Nasdaq Composite Index closed up 11.64 points, or 0.2%, at 5,840.37, overcoming an earlier 59-point deficit.

Telecom and financial shares led decliners, while health-care and materials stocks led advancers. The benchmark index has finished down seven out of the past eight sessions. Earlier in the session, the equity gauge had been down by as many as 22 points.

The blue-chip average was led lower by shares of Chevron and Goldman Sachs.

Last weeks health care hiccup fostered some bearish undertones on Monday morning, but investors were largely able to shake off the concerns to start the week unscathed. The Nasdaq settled 0.2% higher while the S&P 500 and the Dow finished with losses of 0.1% and 0.2%, respectively.

With health care reform in the rear-view mirror, lawmakers will now turn their attention to a major catalyst in the stock markets post-election rally--tax reform.

At the top of the days sector standings was the health care space as the demise of the American Health Care Act puts President Trumps pledge to lower drug prices into question. The technology, materials and consumer discretionary groups also settled in positive territory. Large-cap tech names like Apple, Microsoft, Alphabet, and Intel underpinned the top-weighted tech groups outperformance.

On the flip side, the lightly-weighted real estate and telecom services sectors settled at the bottom of the days leaderboard while the remaining groups, financials, industrials, energy, consumer staples, and utilities finished with losses between 0.1% and 0.5%.

In the Treasury market, U.S. sovereign debt settled in positive territory in a curve-flattening trade. The 10-yr yield (2.37%) finished four basis points lower while the 2-yr yield (1.25%) closed only one basis point below its unchanged mark.

On Monday, the ICE U.S. Dollar Index fell 0.5% to 99.151 after trading as low as 98.858, its lowest level in four months. Weakness in the dollar can provide a boost to dollar-denominated commodity prices.

Oil prices finished lower on Monday, 27 March 2017 pressured by another weekly rise in the U.S. oil-rig count and uncertainty over whether OPEC will extend its production cuts into the second half of the year.

May West Texas Intermediate crude fell 24 cents, or 0.5%, to settle at $47.73 a barrel on the New York Mercantile Exchangen++giving back nearly all of th e nearly 0.6% gain it saw on Friday. May Brent crude on the ICE Futures exchange in London eased by 5 cents, or 0.1%, to $50.75 a barrel.

Gold futures jumped on Monday, 27 March 2017 to finish at their highest level in a month as demand for assets perceived as risky waned, and the dollar dropped in the wake of GOP leaders failure to repeal and replace Obamacare. Gold for April delivery rose $7.20, or 0.6%, to settle at $1,255.70 an ounce. Futures prices havent settled at a level this high since 27 Feb 2017. May silver also gained 36 cents, or 2%, to $18.108 an ounce.

Investors did not receive any economic data on Monday. A handful of reports will be released on Tuesday, including February Advanced International Trade in Goods (consensus -$66.1 billion) and Advanced Wholesale Inventories (consensus 0.2%) at 8:30 ET, January S&P Case-Shiller Home Price Index (consensus 5.6%) at 9:00 ET, and March Consumer Confidence (consensus 113.3) at 10:00 ET.

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Asia Pacific Market: Stocks fall on Trump health-care failure
Mar 27,2017

Asia Pacific share market declined on Monday, 27 March 2017, due to uncertainty over the ability of the administration of U.S. President Donald Trump to implement its economic agenda.

Regional financial market commenced trading with backfoot, as investors reacted to the failure of U.S. President Donald Trump to rally sufficient support within his own Republican party for legislation to repeal and replace his predecessors health care law. Last Friday, Republican leaders withdrew the replacement bill ahead of a vote in the House of Representatives due to lack of support. The move threw into question Trumps ability to execute his promised economic reforms, sparking another round of uncertainty in financial markets. The uncertainty about U.S. government management triggered a risk-off mood that soured the market.

Trumps agenda of boosting growth by expanding infrastructure investment and cutting taxes and regulations had spurred stock markets since his election victory in November. Investors have started to question the credibility of President Trumps pro-growth reforms after House Republicans scrapped his flagship health care bill on Friday. Some traders started to think Mr. Trump will face difficulty implementing the large-scale tax cut he promised, as it now seems hard to bridge differences within the Republicans.

On the energy front, Brent crude futures slipped 0.27% to $47.84 a barrel while U.S. crude dipped 0.27% at $47.84. A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months, according to a statement on Sunday.

Investors are also focused on U.K. Prime Minister Theresa Mays plans to set out how her government plans to restore sovereignty over Britains laws in a speech scheduled for Thursday.

Among Asian Bourses

Australia Shares down on materials

Australian equity market finished session down in the wake of Wall Streets fall on Friday, with mining stocks accounting for most of the slide. At the close, the benchmark S&P/ASX 200 index surrendered 6.80 points, or 0.12%, to 5,746.70, while the broader All Ordinaries index lost 6.90 points, or 0.12%, to 5,789.30. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 520 to 466 and 348 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 6.53% to 12.648.

The big pressure points for the Australian benchmark index were metal majors after Chinese steel and iron ore futures sank to their lowest in more than six weeks on Monday, amid mounting concerns about demand and growing inventories. BHP Billiton fell 2.9%, Rio Tinto was off 1.8% and Fortescue Metals down 3%.

Shares of department store giant Myer Holdings spiked 18.3% on reports by the Australian Financial Review saying 10% of its shares were bought by Australian businessman Solomon Lew at a premium.

Nikkei falls on stronger yen

The Japan share market closed down, weighed by yen appreciation against greenback and worry about the Trumps administrations inability to push through its policy initiatives. Every industry category on the main section lost ground, led by insurance, securities and real estate issues. The benchmark Nikkei 225 index fell 1.44%, or 276.94 points, to 18,985.59, its lowest close since Feb. 9. The broader Topix index of all first-section issues was down 1.26%, or 19.53 points, to end the day at 1,524.39.

Infrastructure stocks, which rose in anticipation of a Trump-driven increase in spending, were among Mondays largest decliners. Steel producer JFE Holdings fell 2.2% and construction-machinery makers Kubota fell 3.2%.

Exporters sank as the yen strengthened against the dollar on growing doubts about US President Donald Trumps ability to carry out his economic agenda following Fridays failed healthcare deal. The yen is seen as a safe bet in times of uncertainty or turmoil, but a stronger currency hurts the profitability of exporters -- hitting demand for their shares. The dollar slipped to 110.27 yen from 111.12 yen in New York Friday. Toyota dropped 1.13% to 6,158 yen while rival Honda lost 1.45% to finish at 3,390 yen. Sony fell 0.72% to 3,577 yen, and Canon dropped 0.97% to 3,461 yen.

Toshiba closed down 2.06% at 218.4 yen, after the leading Nikkei business newspaper said its loss-hit US unit Westinghouse could file for Chapter 11 bankruptcy as early as Tuesday in a court-protected restructuring.

China Stocks tread water as new property curbs offsets good industrial profits

The Mainland China equity market ended down, in line with a regional sell-off as Donald Trumps failure to push through his health care bill raised questions about his chances of passing tough tax reform and spending measures. Meanwhile, optimism felt from data showing surging profits at Chinese industrial firms was offset by fresh property curbs and signs that monetary policy may be further tightened. Most sectors fell on Monday, but transportation and banking stocks were firm. The benchmark Shanghai Composite Index closed 0.08%, or 2.49 points, lower at 3,266.96. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, lost 0.36%, or 7.33 points, to 2,039.41. The large-cap CSI300 closed 0.3% lower at 3,478.

Offering fresh signs of Chinas economic recovery, the National Bureau of Statistics reported that Chinas industrial profits jumped 31.5% year on year for the January-February period, versus a 2.3% increase in December, as commodity prices jumped.

But a market response was muted by Beijings fresh measures to ward off asset price bubbles. Beijing on Sunday night rolled out fresh curbs on commercial property purchases by individuals in the latest government effort to cool the overheated property sector, while the central bank chose not to inject funds into the banking system citing relatively high levels of liquidity.

Underscoring the shift in Beijings policy focus, Zhou Xiao chuan, governor of the Peoples Bank of China (PBOC) said on Sunday that he expects to see more countries start to emphasize fiscal policy and structural reform as the period of loose monetary policy ends. On the bright side, listed companies profitability is improving due to the economic recovery, and equities are a better investment than bonds and property amid the governments deleveraging campaign, he wrote. On the dark side, interest rates are climbing higher, while the property curbs and deleveraging efforts cast doubt on the sustainability of the recovery, suppressing equity valuations.

Hong Kong Stocks close down

The Hong Kong stock market closed session down, as sentiment was hurt by Chinas latest curbs on property purchasing and after Wall Street fall on Friday in the wake of the US Presidents failed attempt to overturn his predecessors signature health care policy known as Obamacare. The Hang Seng Index closed 0.7% lower to 24,193.7 on Monday. The Hang Seng China Enterprises Index, known as the H-shares index, declined 1.1% to 10,362. Turnover increased slightly to HK$89 billion from HK$83.4 billion on Friday.

Mainland developers were pressured as escalating tightening measures on property market were seen in more cities. China Overseas (00688) sank 4.4% to HK$22.7. China Vanke (02202) dipped 4.6% to HK$21.65. Greentown China (03900) plunged 11.6% to HK$7.85 even though it reported earnings growth of 140% for 2016. Kaisa Group (01638) soared 56% to HK$2.43 on trading resumption after two years of halt.

Carrie Lam, the new executive-elect of HK, has won support from local developers. But HK property counters were lower. New World Development (00017) slipped 1.3% to HK$9.64. CK Property (01113) fell 0.5% to HK$53.95.

Chinese financials mostly fell. China Merchants Bank closed 2% lower to HK$20.7 after the lender said its non-performing loan ratio had increased to 1.87% by the end of 2016, although its net profit rose 7.6% to 62 billion yuan (US$9 billion). ICBC and Bank of China dropped 0.8% and 1.3% respectively, trading at HK$5.12 and HK$3.9 at the close. China Construction Bank shed 0.9% to HK$6.3. The three banking giants are set to unveil their annual results later this week.

Sinopec (00386) edged up 0.2% to HK$6.21 after oil giant reported strong earnings with higher dividend, and also issued positive profit alert for 1Q 2017. The refiner said its 2016 net income jumped 44% from the previous year.

Sensex closes down as metal, energy stocks fall

Indian stock market extended losses today following sustained selling in metal, energy, telecom, oil&gas, FMCG and Auto sectors amid weak Asian cues. BSE Sensex closed lower by 188 points, or 0.64%, to 29,233, while the Nifty 50 fell 63 points, or 0.69%, to 9,045.

Foreign portfolio investors (FPIs) bought shares worth Rs543.35 crore on last Friday, as per provisional data released by the stock exchanges. Globally, Asian markets were mostly lower after President Trump suffered a legislative defeat last Friday when Republican leaders pulled a bill to overhaul the US health care system. The US stocks ended lower last Friday, as House Republicans withdrew the American Health Care Act after determining that they did not have enough votes to pass the bill.

Shares of Reliance Industries took a beating, falling 3% after Sebi accused co of having committed a fraud in taking a short trading position at the time of selling a stake in a unit in 2007. It has also ordered Reliance Industries to surrender most of gains, plus interest; bars it from trading in derivatives for one year.

Coal India fell 2% after the state-owned miner announced its second interim dividend of Rs 1.15/ share for current financial year as the dividend amount declared slightly less than market expectations.

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Hong Kong Stocks close down
Mar 27,2017

The Hong Kong stock market closed session down on Monday, 27 March 2017, as sentiment was hurt by Chinas latest curbs on property purchasing and after Wall Street fall on Friday in the wake of the US Presidents failed attempt to overturn his predecessors signature health care policy known as Obamacare. The Hang Seng Index closed 0.7% lower to 24,193.7 on Monday. The Hang Seng China Enterprises Index, known as the H-shares index, declined 1.1% to 10,362. Turnover increased slightly to HK$89 billion from HK$83.4 billion on Friday.

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China Stocks tread water as new property curbs offsets good industrial profits
Mar 27,2017

The Mainland China equity market ended down on Monday, 27 March 2017, in line with a regional sell-off as Donald Trumps failure to push through his health care bill raised questions about his chances of passing tough tax reform and spending measures. Meanwhile, optimism felt from data showing surging profits at Chinese industrial firms was offset by fresh property curbs and signs that monetary policy may be further tightened. Most sectors fell on Monday, but transportation and banking stocks were firm. The benchmark Shanghai Composite Index closed 0.08%, or 2.49 points, lower at 3,266.96. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, lost 0.36%, or 7.33 points, to 2,039.41. The large-cap CSI300 closed 0.3% lower at 3,478.

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