Headline shares of the Asia Pacific market ended mixed in
holiday-thinned trading on Monday, 08 September 2014, as investors
focused on a raft of data in China and Japan. Trading volumes were light
with markets in China, South Korea and Taiwan shut for the Mid-Autumn
Festival. The MSCI Asia Pacific Index rose less than 0.1%.
Markets showed little reaction to China's August trade report. Exports in the world's second-largest economy jumped 9.4% on year, higher than expectations for 8% rise. But imports fell an annual 2.4%, missing estimates for a 1.7% increase. Still, the country's trade surplus rose to $49.8 billion, well above forecasts for $40 billion.
Japan's second-quarter gross domestic product (GDP) shrivelled 1.8% in June quarter from the sequentially previous quarter, worse than the previously estimated fall of 1.7%, the Cabinet Office said on Monday. Also, Japan revised second-quarter gross domestic product contracted an annualized 7.1%, worse than initial estimates of a 6.8% contraction. Meanwhile, the Japan's current account surplus trimmed 30.6% from a year earlier to 416.7 billion yen for July.
Investors risk sentiments were also muted after a YouGov poll showed rising support for Scottish independence for the first time ahead of a Sept. 18 referendum. The market participants now concerned that the gap between the two has closed significantly only a couple of weeks before the referendum. A major concern is that the market is yet to price in the chaos that would stem from a yes vote on September 18, particularly the currency Scotland would use and how their debt would be treated.
Among Asian bourses
Aussie shares fall on profit booking
Australian share market closed down for fourth consecutive session, amid worries over economic impact of drop in commodity prices and as number of local blue chips went ex-dividend. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index each declined by 0.4% to 5577 points and 5578.90 points, respectively.
Aussie shares commenced trading with back footing, amid rising concerns about the impact of falling commodity prices on the domestic economy and as a number of local blue chips such as biotech CSL and insurer IAG went ex-dividend. Meanwhile, risk sentiment undermined further after China's trade data for August showed a 2.4% contraction in imports over the 12 months to August, far missing expectations of a 3% increase.
The financial stocks were down, with top four lenders being major losers. Commonwealth Bank of Australia fell 0.05% to A$81.26, Westpac Banking Corp 0.5% to A$34.58 and ANZ Banking Group 0.2% to A$33.28. National Australia Bank dropped 0.5% to A$34.66 as Credit Suisse said the lender's Clydesdale Bank division in Scotland could take a hit if the Scottish vote in favour of independence from Britain next week. Insurance Australia dumped 4.9% to A$6.16, after going ex-dividend.
Materials and resources stocks mixed, as iron ore prices fell to a new five-year low of $83.60 on Friday. Resources giant BHP Billiton ended marginal 0.03% up at A$35.66 while main rival Rio Tinto fell by 0.5% at A$61.02. Fortescue Metals bounced 2% to A$4.
Nikkei close up 0.23%
Japanese share market closed higher for the first time in three consecutive sessions as greenback remains firming above 105 level against the yen and gains on Wall Street on last Friday helped the market to shrug off both weak US labour data and a disappointing downward revision to Japanese gross domestic product numbers. The key Nikkei 225 index at the Tokyo Stock Exchange gained 0.23%, 36.43 points, to 15705.11, while the Topix index of all-first section issues went up 0.42%, or 5.43 points, to 1298.64.
Wowow Inc., a satellite TV company that has rights to broadcast the U.S. Open tennis tournament, surged 7.1% to 4,700 yen after Japanese player Kei Nishikori made it to the final.
Kobe Steel shares gained 3.5% to 177 yen after Credit Suisse Group AG lifted the company's rating to outperform from neutral, citing a rebound in the steel inventory cycle and rising steel scrap prices.
Softbank Corp share grew 2.1% to 7628 yen on excitement surrounding the upcoming U.S. IPO of Alibaba Group, of which it owns roughly one-third.
Shares of leading Japanese online retailer Rakuten Inc fell 4.2% to 1270 yen on reports that it had reached a deal to buy U.S. shopping-discount site Ebates for just under $100 million.
Hang Seng slips for third day
Hong Kong share market ended lower for third straight session in quiet and volatile trade as investors looked to Chinese trade data and an updated reading on Japanese economic growth. The Hang Seng Index ended 49.70 points, or 0.2%, down at 25190.45. The benchmark index thus slid 166 points at one stage to an intra-day low of 25,074. Market turnover declined to HK$56.44 billion from HK$83.96 billion on last Friday.
Tencent shares ended down 1.7% to HK$126.1amid the upcoming IPO of Alibaba, with HK$2.54bn worth of shares changing hands. Investors were worried that funds would switch their position into Alibaba from Tencent.
Henderson Land (00012) agreed to sell its stake in department store operation "Citistore" to Henderson Investment (00097) for HK$934m. Henderson Land gained 2.1% to HK$56. Henderson Investment soared 20.6% to HK$0.82.
Country Garden shares slid 1.2% to HK$3.36 after the developer said it has achieved contracted sales of about Rmb72.51 billion for the first eight months of 2014, with contracted sales GFA of around 10.81 million square metres.
Guangzhou Automobile Group shares jumped 0.6% to HK$8.62 after the automobile company said its total production and sales volume for August amounted to 76,193 units and 81,280 units, anincrease of 3% and 17.45% from a year earlier. For the first eight months of 2014, the accumulated production and sales volume amounted to 764,895 units and 657,605 units, an increase of 28.53% and 14.81% over the same period last year.
Sensex, Nifty surges to record high
Indian stock market closed higher today on account of broad based buying and crude dropping below $100 a barrel. The market sentiment was also boosted by provisional data showing that foreign funds were net buyers of Indian during the previous trading session. As per provisional closing, the S&P BSE Sensex was up 293.15 points or 1.1% at 27319.85. The CNX Nifty was up 7.05 points or 1.1% at 8173.90.
State-run upstream oil & gas companies gained as crude oil prices slumped on Friday, 5 September 2014. ONGC (up 2.82%), GAIL (India) (up 0.32%) and Oil India (up 2.44%) gained.
Cipla rose 1.04%. Cipla during market hours announced the commercial collaboration with S&D Pharma in the Czech Republic and Slovakia. This collaboration will enable Cipla to focus on its core therapy areas, while S&D Pharma will be the key partner for generics, the company said.
Elsewhere in the Asia Pacific region-- Singapore's Straits Times index fell 0.2% to 3335.19. Malaysia's KLCI has gained 0.14% to 1871.09. New Zealand's NZX50 rose 0.15% to 5261.75. Indonesia's Jakarta Composite index added 0.56% to 5246.48. Markets in China, South Korea and Taiwan are closed for Mid-Autumn Festival holiday.
Markets showed little reaction to China's August trade report. Exports in the world's second-largest economy jumped 9.4% on year, higher than expectations for 8% rise. But imports fell an annual 2.4%, missing estimates for a 1.7% increase. Still, the country's trade surplus rose to $49.8 billion, well above forecasts for $40 billion.
Japan's second-quarter gross domestic product (GDP) shrivelled 1.8% in June quarter from the sequentially previous quarter, worse than the previously estimated fall of 1.7%, the Cabinet Office said on Monday. Also, Japan revised second-quarter gross domestic product contracted an annualized 7.1%, worse than initial estimates of a 6.8% contraction. Meanwhile, the Japan's current account surplus trimmed 30.6% from a year earlier to 416.7 billion yen for July.
Investors risk sentiments were also muted after a YouGov poll showed rising support for Scottish independence for the first time ahead of a Sept. 18 referendum. The market participants now concerned that the gap between the two has closed significantly only a couple of weeks before the referendum. A major concern is that the market is yet to price in the chaos that would stem from a yes vote on September 18, particularly the currency Scotland would use and how their debt would be treated.
Among Asian bourses
Aussie shares fall on profit booking
Australian share market closed down for fourth consecutive session, amid worries over economic impact of drop in commodity prices and as number of local blue chips went ex-dividend. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index each declined by 0.4% to 5577 points and 5578.90 points, respectively.
Aussie shares commenced trading with back footing, amid rising concerns about the impact of falling commodity prices on the domestic economy and as a number of local blue chips such as biotech CSL and insurer IAG went ex-dividend. Meanwhile, risk sentiment undermined further after China's trade data for August showed a 2.4% contraction in imports over the 12 months to August, far missing expectations of a 3% increase.
The financial stocks were down, with top four lenders being major losers. Commonwealth Bank of Australia fell 0.05% to A$81.26, Westpac Banking Corp 0.5% to A$34.58 and ANZ Banking Group 0.2% to A$33.28. National Australia Bank dropped 0.5% to A$34.66 as Credit Suisse said the lender's Clydesdale Bank division in Scotland could take a hit if the Scottish vote in favour of independence from Britain next week. Insurance Australia dumped 4.9% to A$6.16, after going ex-dividend.
Materials and resources stocks mixed, as iron ore prices fell to a new five-year low of $83.60 on Friday. Resources giant BHP Billiton ended marginal 0.03% up at A$35.66 while main rival Rio Tinto fell by 0.5% at A$61.02. Fortescue Metals bounced 2% to A$4.
Nikkei close up 0.23%
Japanese share market closed higher for the first time in three consecutive sessions as greenback remains firming above 105 level against the yen and gains on Wall Street on last Friday helped the market to shrug off both weak US labour data and a disappointing downward revision to Japanese gross domestic product numbers. The key Nikkei 225 index at the Tokyo Stock Exchange gained 0.23%, 36.43 points, to 15705.11, while the Topix index of all-first section issues went up 0.42%, or 5.43 points, to 1298.64.
Wowow Inc., a satellite TV company that has rights to broadcast the U.S. Open tennis tournament, surged 7.1% to 4,700 yen after Japanese player Kei Nishikori made it to the final.
Kobe Steel shares gained 3.5% to 177 yen after Credit Suisse Group AG lifted the company's rating to outperform from neutral, citing a rebound in the steel inventory cycle and rising steel scrap prices.
Softbank Corp share grew 2.1% to 7628 yen on excitement surrounding the upcoming U.S. IPO of Alibaba Group, of which it owns roughly one-third.
Shares of leading Japanese online retailer Rakuten Inc fell 4.2% to 1270 yen on reports that it had reached a deal to buy U.S. shopping-discount site Ebates for just under $100 million.
Hang Seng slips for third day
Hong Kong share market ended lower for third straight session in quiet and volatile trade as investors looked to Chinese trade data and an updated reading on Japanese economic growth. The Hang Seng Index ended 49.70 points, or 0.2%, down at 25190.45. The benchmark index thus slid 166 points at one stage to an intra-day low of 25,074. Market turnover declined to HK$56.44 billion from HK$83.96 billion on last Friday.
Tencent shares ended down 1.7% to HK$126.1amid the upcoming IPO of Alibaba, with HK$2.54bn worth of shares changing hands. Investors were worried that funds would switch their position into Alibaba from Tencent.
Henderson Land (00012) agreed to sell its stake in department store operation "Citistore" to Henderson Investment (00097) for HK$934m. Henderson Land gained 2.1% to HK$56. Henderson Investment soared 20.6% to HK$0.82.
Country Garden shares slid 1.2% to HK$3.36 after the developer said it has achieved contracted sales of about Rmb72.51 billion for the first eight months of 2014, with contracted sales GFA of around 10.81 million square metres.
Guangzhou Automobile Group shares jumped 0.6% to HK$8.62 after the automobile company said its total production and sales volume for August amounted to 76,193 units and 81,280 units, anincrease of 3% and 17.45% from a year earlier. For the first eight months of 2014, the accumulated production and sales volume amounted to 764,895 units and 657,605 units, an increase of 28.53% and 14.81% over the same period last year.
Sensex, Nifty surges to record high
Indian stock market closed higher today on account of broad based buying and crude dropping below $100 a barrel. The market sentiment was also boosted by provisional data showing that foreign funds were net buyers of Indian during the previous trading session. As per provisional closing, the S&P BSE Sensex was up 293.15 points or 1.1% at 27319.85. The CNX Nifty was up 7.05 points or 1.1% at 8173.90.
State-run upstream oil & gas companies gained as crude oil prices slumped on Friday, 5 September 2014. ONGC (up 2.82%), GAIL (India) (up 0.32%) and Oil India (up 2.44%) gained.
Cipla rose 1.04%. Cipla during market hours announced the commercial collaboration with S&D Pharma in the Czech Republic and Slovakia. This collaboration will enable Cipla to focus on its core therapy areas, while S&D Pharma will be the key partner for generics, the company said.
Elsewhere in the Asia Pacific region-- Singapore's Straits Times index fell 0.2% to 3335.19. Malaysia's KLCI has gained 0.14% to 1871.09. New Zealand's NZX50 rose 0.15% to 5261.75. Indonesia's Jakarta Composite index added 0.56% to 5246.48. Markets in China, South Korea and Taiwan are closed for Mid-Autumn Festival holiday.
