Asia Pacific Market: Stocks mixed ahead of Christmas

Headline equities of the Asia Pacific market closed mostly higher in light trading on Thursday, 24 December 2015, as investor interest in blue-chips boosted up after an oil-linked surge on US and European bourses overnight. The MSCI Asia Pacific Index climbed 0.2% to 131.31. 

Investors' sentiment remained firm after stabilization in commodity prices as crude climbed to a two-week high and industrial metals gained on optimism that the Chinese and American economies will spark demand for resources. 

U.S. crude futures added 0.6% at $37.71 a barrel while Brent crude futures rose 0.6% to $37.58 in Asian trade on Thursday. Crude prices surged more than 3.5% Wednesday after a report showed US inventories unexpectedly fell in the week to Friday, a day after Brent had touched its lowest level since July 2004, leading to hopes a year-long slump may have bottomed out. 

Base Metal prices closed higher on greater optimism about demand in China and as Chinese funds bet on higher prices along with the gains in the Oil prices. 

Among Asian bourses
 
Australian Market surges to 3-week high
 
Australian share market advanced in a shortened Christmas Eve session, following supportive global cues. Investors' sentiment remained firm after stabilization in commodity prices as crude climbed to a two-week high and industrial metals gained on optimism that the Chinese and American economies will spark demand for resources. All ASX industry groups, barring industrial, advanced, with shares of material, energy, and financial sectors being major gainers. At the close, the benchmark S&P/ASX 200 index ended 65.80 points, or 1.28%, up at 5207.60 points, a highest level since 3 December 2015 when it closed at 5227.70, while the broader All Ordinaries index grew 63.60 points, or 1.21%, to 5256.10 points. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, declined 3.6% at 15.44, suggesting 4.4% swing in the equity benchmark index in the next 30 days.

Japan stocks down on profit booking
 
Japan share market closed down due to profit booking after being closed on Wednesday for the Emperor's birthday. Tokyo market opened higher, but equity gauges failed to hold momentum as investors' sentiment turned cautious after Japanese Prime Minister Shinzo Abe's cabinet approved on Thursday a record fiscal 2016 budget that counts on higher growth and tax revenue to achieve Abe's aim of reviving the economy and reining in public debt. Minutes of the Bank of Japan's November rate review released earlier in the session showed that many policymakers complained of slow wage and capital expenditure growth, but were optimistic that companies will start to boost spending once emerging economies improve. The 225-issue Nikkei Stock Average declined 97.01 points, or 0.51%, to 18789.69. The Topix index of all Tokyo Stock Exchange First Section issues sank 9.98 points, or 0.65%, to 1523.62. 

China Market falls 0.65%
 
The Mainland China stock market declined, due to resumption of profit booking amid speculation recent gains were overdone, and concern about fund diversion toward initial public offerings from existing equities. Total 9 out of 10 SSE industry groups declined, with shares of industrial, consumer staple, and healthcare issues being major losers. The Shanghai Composite Index decreased 0.65%, or 23.60 points, to close at 3612.49. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 0.2%, or 4.69 points, to close at 2346.37. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.43%, or 11.84 points, to close at 2795.78.

Hong Kong Market rises in shortened session
 
The Hong Kong stock market ended higher in the holiday-shortened session, as investor sentiment was boosted by rally in U.S. equities overnight amid a reprieve in the recent plunge of oil prices. The benchmark index opened up 167 points at 22,207 and gradually pared its gains as the Shanghai market softened and failed the 3,600 level. The benchmark Hang Seng Index advanced 97.54 points, or 0.44%, to 22138.13 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, added 70.26 points, or 0.71%, to 9953.21 points. The HSI Volatility Index (VHSI), which measures the cost of options on the Hong Kong equity gauge, fell 4.5% to 18.33points, suggesting 5.3% swing in the equity benchmark index in the next 30 days. Hong Kong markets closed at midday, and will be closed on Friday for Christmas. 

Indian indices trade near the flat line
 
Indian benchmark indices were hovering near the flat line in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was off 3.19 points or 0.01% at 25,847.11. The 50-unit Nifty 50 index was currently off 5.75 points or 0.07% at 7,860.20.

Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 0.1% to 8324.36. South Korea's KOPSI fell 0.4% to 1990.65. New Zealand's NZX50 added 0.5% to 6225.53. Singapore's Straits Times index rose 0.5% at 2877.62. Indonesia and Malaysia market closed for public holiday. 

SBI MF Announces wound up of SBI Inflation Indexed Bond Fund

SBI Mutual Fund has decided to wind up SBI Inflation Indexed Bond Fund.

SBI MF Announces Dividend under its schemes

Record date for dividend is 23 December 2015 

SBI Mutual Fund has announced 23 December 2015 as the record date for declaration of dividend under the following schemes. The quantum of dividend (Rs per unit) on the face value of Rs 10 per unit will be: 

SBI Regular Savings Fund (Quarterly) – Regular Plan & Direct Plan, SBI Magnum Monthly Income Plan (Quarterly)-Regular Plan & Direct Plan, SBI Magnum Monthly Income Plan – Floater (Quarterly)-Regular Plan & Direct Plan, SBI Dynamic Bond Fund (Quarterly) - Regular Plan & Direct Plan, SBI Corporate Bond Fund (Quarterly)-Regular Plan & Direct Plan, SBI Magnum Income Fund (Quarterly)-Regular Plan & Direct Plan and SBI Magnum Gilt Fund-Long Term Plan (Quarterly)-Regular Plan, Direct Plan, PF – Regular, PF-Fixed Period-1 Year, PF-Fixed Period-2 Years and PF-Fixed Period-3 Years: 

The quantum of dividend will be Rs 0.2000 per unit under each plan. 

Rupee marches ahead

At 66.20/21 per dollar 

Rupee closed on a positive note on Wednesday (23 December 2015) at 66.20/21 per dollar, versus its previous close of 66.32/33 per dollar.

SBI MF Announces Dividend under three schemes

Record date for dividend is 23 December 2015 

SBI Mutual Fund has announced 23 December 2015 as the record date for declaration of dividend under the dividend option of following schemes. 

The quantum of dividend on the face value of Rs 10 per unit will be: 

SBI Equity Savings Fund (Quarterly):
Regular Plan & Direct Plan: Rs 0.15 each. 

SBI Magnum Balanced Fund:
Regular Plan: Rs 0.70
Direct Plan: Rs 1.00 

SBI Arbitrage Opportunities Fund:
Regular Plan & Direct Plan: Rs 0.05 each.

Asia Pacific Market: Stocks perk up on China stimulus hope

Asia Pacific share market advanced on Wednesday, 23 December 2015, as risk sentiments boosted up amid growing investor confidence in the U.S. economy after encouraging US economic data and renewed stimulus chatter from China. 

The positive finish of the U.S. markets overnight set a tone for regional markets today. Wall Street rallied across the board on Tuesday after oil prices recovered slightly and data showed that the U.S. economy grew at a fairly healthy clip in the third quarter. Earlier on Tuesday, the U.S. Commerce Department trimmed third-quarter economic growth to a 2% annual pace from the 2.1% estimated earlier. The Dow Jones industrial average ended up 0.96% at 17417.27. The S&P 500 gained 0.88% to 2038.97 and the Nasdaq Composite added 0.65% to 5001.11. 

The US economy grew at a fairly healthy clip in the third quarter as strong consumer and business spending offset efforts by businesses to reduce an inventory glut, underscoring its resilience despite a raft of headwinds. Gross domestic product grew at a 2% annual pace, instead of the 2.1% rate reported last month, the Commerce Department said in its third estimate yesterday. 

Sentiments also boosted up on hopes Beijing will push fresh reforms following a weekend policy meeting. Chinese government officials have cleared the way for fresh stimulus measures to halt the worsening economic slowdown in the World's second largest economy. 

At the close of a key meeting of China's Communist leadership on 21 December 2015, the government announced a series of reforms, including plans to make China's monetary policy more flexible and to expand the government's budget deficit next year. The raft of measures is expected to provide much needed to support to a painful slowdown in the house building sector in China. 

The announcement is the latest from Beijing after it promised last year to let the market play a bigger role in the world's No. 2 economy and implement reforms of bloated state-owned enterprises. It also follows other moves to kick- start slowing growth, including six interest-rate cuts since November last year. 

Among Asian bourses
 
Australia market extends gain to sixth day
 
Australian share market advanced for sixth-straight session, as appetite for risk assets boosted up amid growing investor confidence in the U.S. and Chinese economies. Total eight out of ten ASX industry group rallied, with shares of material and energy sectors leading advancers. At the close, the benchmark S&P/ASX 200 index ended 25.10 points, or 0.49%, up at 5141.80 points, while the broader All Ordinaries index grew 25.80 points, or 0.5%, to 5193.50 points. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, declined 5.13% at 15.99, suggesting 4.6% swing in the equity benchmark index in the next 30 days. 

China market falls on profit booking
 
The Mainland China stock market ended softer after washing out initial gain late afternoon, due to profit booking after the benchmark indices surged to highest level in four-months yesterday. Total 8 out of 10 SSE industry groups declined, with shares of telecom, technology, and material issues led losses. The Shanghai Composite Index decreased 0.43%, or 15.68 points, to close at 3636.09. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 1.2%, or 28.56 points, to close at 2351.06. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, dropped 2%, or 55.91 points, to close at 2783.94. 
 
Hong Kong market rises for third day
The Hong Kong stock market advanced for third consecutive session on the back of positive lead from Wall Street overnight and amid renewed stimulus chatter in China. The benchmark Hang Seng Index advanced 210.57 points, or 0.96%, to 22040.59 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, added 151.42 points, or 1.56%, to 9882.95 points. 

Sensex, Nifty rebounds as CAD narrows
 
Indian stock markets were trading higher around late afternoon on positive global cues and due to narrowing current account deficit. Besides, covering-up of short positions by speculators boosted the sentiment. At 13:55 IST, the 30-share BSE index Sensex was up 1% to 25853 and the 50-share NSE index Nifty was up 1% to 7864. All BSE sectoral indices were trading in the green, with shares of metal, oil & gas, power and healthcare issues being major gainers. 

The latest data showed that India's current account deficit (CAD) declined to $8.2 billion or 1.6% of GDP in Q2 September 2015 from $10.9 billion or 2.2% of GDP in Q2 September 2014. On sequential basis, the CAD witnessed an increase from $6.1 billion or 1.2%% of GDP in Q1 June 2015. The RBI said that the decline in CAD in Q2 September 2015 on year-on-year basis was primarily on account of lower trade deficit.

Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 0.3% to 8315.70. South Korea's KOPSI grew 0.3% to 1999.22. New Zealand's NZX50 added 0.8% to 6195.34. Indonesia's Jakarta Composite index fell 0.2% to 4510.35. Malaysia's KLCI jumped 0.9% to 1658.39. Singapore's Straits Times index rose 0.4% at 2863. Japan market closed for a national holiday to celebrate the emperor's birthday. 

FPIs step up buying of equities

Net purchases of Rs 274.37 crore on 22 December 

Foreign portfolio investors (FPIs) remained buyers of Indian stocks on 22 December 2015, according to data released by the depositories. FPIs bought stocks worth a net Rs 274.37 crore on 22 December 2015 which was higher than their purchases worth Rs 161.07 crore during the preceding trading session on 21 December 2015. 

The net inflow of Rs 274.37 crore into the secondary equity markets on 22 December 2015 was a result of gross purchases of Rs 2582.28 crore and gross sales of Rs 2307.91 crore. The S&P BSE Sensex had declined 145.25 points or 0.56% to settle at 25,590.65 on that day, its lowest closing level since 18 December 2015. 

There was a net inflow of Rs 339.22 crore into the category 'primary markets & others' on 22 December 2015, which was a result of gross purchases of Rs 339.94 crore and gross sales of Rs 0.72 crore. 

FPIs have offloaded shares worth a net Rs 3172.61 crore into the secondary equity markets in this month so far (till 22 December 2015). FPIs sold stocks worth a net Rs 8413.23 crore into the secondary equity markets last month. 

FPIs have offloaded shares worth a net Rs 4945.74 crore into the secondary equity markets in calendar year 2015 so far (till 22 December 2015). They bought shares worth a net Rs 84440.80 crore from the secondary equity markets in calendar year 2014. 

There has been a net outflow of Rs 776.41 crore from FPIs from the category 'primary 
markets & others' in this month so far (till 22 December 2015). They had pumped in Rs 1339.25 crore into the category 'primary markets & others' last month. 

The inflow of FPIs into the category 'primary markets & others' has totaled Rs 21619.52 crore in calendar year 2015 so far (till 22 December 2015). The inflow of FPIs into the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

Reliance Fixed Horizon Fund – XXIX – Series 18 Floats On

NFO period is from 17 December to 29 December 2015 

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIX – Series 18, a close ended income scheme with the duration of 1246 days from the date of allotment. During the New Fund Offer (NFO), the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 17 December to 29 December 2015. 

This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue. 

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. 

The scheme offers growth and dividend payout option under both regular plan and direct plan. 

The scheme will allocate upto 20% of its assets in money market instruments with low risk profile and invest 80%-100% of its assets in government securities & debt instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is Crisil Composite Bond Fund Index. 

The fund manager of the scheme will be Amit Tripathi. 

ICICI Prudential Balanced Advantage Fund Announces Dividend

Record date for dividend is 24 December 2015 

ICICI Prudential Mutual Fund has announced 24 December 2015 as the record date for declaration of dividend on the face value of Rs 10 per unit under the regular plan-quarterly dividend option and direct plan-quarterly dividend option of ICICI Prudential Balanced Advantage Fund. 

The recommended rate of dividend will be Rs 0.15 per unit under each plan as on the record date.

Religare Invesco Monthly Income Plan Announces Merger

With effect from 29 January 2016 

Religare Invesco Mutual Fund has approved the merger of Religare Invesco Monthly Income Plan with Religare Invesco Monthly Income Plan (MIP) Plus, with effect from 29 January 2016. 

The period of this exit option is from 28 December 2015 to 27 January 2016.

ICICI Prudential MF Announces Introduction of money back feature under its schemes

With effect from 01 January 2016 

ICICI Prudential Mutual Fund has announced the introduction of money back feature under ICICI Prudential Dynamic Plan, ICICI Prudential Equity Income Fund, ICICI Prudential Balanced Fund and ICICI Prudential MIP 25 Fund, with effect from 01 January 2016. 

UTI MF Announces Dividend under its schemes

Record date for dividend is 28 December 2015

UTI Mutual Fund has announced 28 December 2015 as the record date for declaration of dividend under the following schemes. The quantum of dividend on the face value of Rs 10 per unit (except for UTI Treasury Advantage Fund and UTI Floating Rate Fund, which has a face value of Rs 1000 per unit) will be: 

UTI Bond Fund-Quarterly Dividend Option Existing Plan: Rs 0.100 per unit (1.00%) 

UTI Treasury Advantage Fund- Quarterly Dividend Option -Institutional Plan-Existing Plan, Quarterly Dividend Option -Institutional Plan-Direct Plan & Quarterly Dividend Plan: Rs 15 per unit (1.50%) each. 

UTI Short Term Income Fund- Institutional Option Quarterly Dividend Sub-Option-Existing Plan & Institutional Option Quarterly Dividend Sub-Option-Direct Plan: Rs 0.100 per unit (1.00%) each. 

UTI Short Term Income Fund- Regular Option Dividend Sub-Option: Rs 0.075 (0.75%) 

UTI Dynamic Bond Fund-Quarterly Dividend Option Existing Plan: Rs 0.100 per unit (1.00%) 

UTI Income Opportunities Fund- Quarterly Dividend Option Existing Plan: Rs 0.125 per unit (1.25%) each. 

UTI Income Opportunities Fund- Quarterly Dividend Option Existing Plan: Rs 0.150 per unit (1.50%) each. 

UTI Banking & PSU Debt Fund - Quarterly Dividend Option Regular Plan: Rs 0.150 per unit (1.50%) each. 

UTI Floating Rate Fund - (STP) – Quarterly Dividend Option – Regular Plan & Direct Plan: Rs 15 per unit (1.50%) each. 

UTI Medium Term Fund – Monthly Dividend Option- Regular Plan & Direct Plan, Quarterly Dividend Option - Regular Plan & Direct Plan: Rs 0.075 per unit (0.75%) each. 

UTI Dividend Yield Fund - Dividend Option (Existing Plan) & Dividend Option (Direct Plan): Rs 0.550 per unit (5.50%) each. 

Reliance Tax Saver (ELSS) Fund Announces Dividend

Record date for dividend is 28 December 2015

Reliance Mutual Fund has announced 28 December 2015 as the record date for declaration of dividend on the face value of Rs 10 per unit under the dividend plan and direct plan – dividend plan of Reliance Tax Saver (ELSS) Fund. 

The amount of dividend will be Re 0.4500 per unit under each plan as on the record date.

Birla Sun Life 95 Fund Announces Change in Name

With effect from 01 January 2016 

Birla Sun Life Mutual Fund has announced change in name of Birla Sun Life 95 Fund, with effect from 01 January 2016. Accordingly, the name stands changed to Birla Sun Life Balanced 95 Fund.