Asia Pacific share market closed mostly lower on Wednesday, 04 March
2015, following the decline of the European and US equity markets
overnight. The MSCI Asia Pacific Index slid 0.6%.
Investors were refraining to take new position on caution ahead to U.S. economic data and China's ceremonial legislature annual session on Thursday. China's leaders are gathered this week in Beijing, where they'll map out policies on state-owned enterprises, the environment, and deliver the nation's budget. Premier Li Keqiang is expected to announce a 2015 economic growth goal of about 7% on Thursday, when the NPC starts its annual meeting, down from last year's 7.5%. People are also hoping that there will be new policies announced to support growth.
Among Asian bourses
Nikkei falls 0.59% as yen strengthens
Japanese share market ended down in volatile trade, hurt by tracking weak cues from Wall Street overnight and yen strengthening against the greenback. The Nikkei Stock Average declined by 111.56 points, or 0.59%, to close at 18703.60, off an intra-day high of 18732.66 and day low of 18586.84. The broader Topix index decreased by 9.82 points, or 0.64%, to 1517.01.
Shares of exporters were major drag on the Tokyo, with auto makers leading the decliners. Toyota Motor Corp declined 0.3% to 8112 yen despite posting a more-than-13% rise in its February U.S. sales from a year earlier, while Nissan Motor Co saw its stock drop 1.8% to 1233.50 yen. Honda Motor Co fell 0.7% to 3970.50 yen, and Subaru maker Fuji Heavy Industries moved 1.4% lower at 4078.50 yen, but Mitsubishi Motors Corp managed to close 1.1% higher at 1099 yen, thanks to a 26% jump in its North American sales. Among the techs, Seiko Epson Corp fell 0.7% to 4515 yen, Sony Corp lost 0.6% to 3325 yen and Sharp Corp fell 5.3% to 232 yen.
Nippon Steel & Sumitomo Metal Corp was up 1.6% to 321.30 yen on reports that the steel producer planned to invest about $825 million a year on new equipment and staff.
Australia stocks extend losses
The Australian share market declined for second straight session, after the central bank's surprise decision to keep rates on hold, with banks, miners, property trusts and Telstra being major losers. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index both down by 0.5% to 5901.60 and 5871.50, respectively, extending the 0.4% loss in the previous session after the central bank confounded the expectations of some analysts by keeping its benchmark interest rate unchanged. Market turnover was relatively light, with 1.19 billion shares changing hands worth of A$3.5 billion. Rising stocks underperformed declining ones, with total of 513 stocks up, while remaining 708 down.
Financial stocks were down, with the big four banks leading retreat after the rates decision. ANZ Banking Group lost 0.4% to A$35.52, Commonwealth Bank of Australia slipped 0.9% to A$91.13, National Australia Bank shaved 0.5% to A$38.09 and Westpac dipped 0.9% to A$37.91. Investment bank Macquarie Group (MQG) was on a temporary trading halt after announcing the US$4 billion purchase of a fleet of aircraft for leasing, funded in part by a planned capital raising of just under US$400 million. MQZ last traded 2% down at A$73.52.
Materials and resources stocks also saw broad losses, with BHP Billiton diving 0.7% to A$33.31, Independence Group lost 4% to A$5.46, Fortescue Metals Group fell 5.4% to A$2.29, Oz Minerals retreated 2.9% to A$3.75. Rio Tinto was down 3.7% to A$62.40 as its shares traded ex-dividend.
Healthcare bucked the downward trend after Goldman Sachs upgraded the price target for a number of major healthcare stocks including CSL, which rose 0.4% to A$92.18.
Australia's economy grew by 0.5% in the fourth quarter of 2014 from the previous three months, according to Australia Bureau of Statistics data showed on Wednesday. Gross domestic product also rose by 2.5% from a year earlier.
China stocks bounce on bargain buying
Mainland China share market closed higher in volatile trade, boosted by bottom fishing following yesterday heavy losses. Stocks in the pharma, retailer, consumer goods, and materials and resources stocks posted strong gains after the HSBC Markit survey showed activity in China's service sector grew modestly in February as new orders rose at their quickest pace in three months. But offsetting the gains were weakness in financial and real estate stocks amid lingering worries over economic health. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, advanced 22.92 points, or 0.65%, to 3530.82, while the Shanghai Composite Index advanced 16.48 points, or 0.51%, to 3279.53, after dropping 2.2% on Tuesday.
Total of eight out of ten SSE industry groups advanced, with healthcare issue leading rally, up by 3.1%, followed by consumer discretionary (up 2.6%), consumer staples (1.9%), telecommunication services (up 1.3%), energy (up 1.3%), materials (up 0.5%), information technology (up 0.4%), and industrials (up 0.1%).
Shares pharmaceutical, media and entertainment companies climbed the most in Beijing after the HSBC Markit survey showed activity in China's service sector grew modestly in February as new orders rose at their quickest pace in three months. Harbin Pharmaceutical Group climbed 3.9%. Beijing Enlight Media Co. jumped 10%, while TCL Corp. surged 7.5%.
The HSBC China Services Purchasing Managers' Index edged up to 52.0 in February after dropping to a six-month low of 51.8 in January, HSBC Holdings PLC said Wednesday, pointing to a modest recovery outside the nation's factory sector. The reading is above 50, which indicates month-over-month expansion, while a level below that points to contraction. "The latest PMI data signalled that China's service sector remained in expansionary territory in February, though the rate of growth remained modest," HSBC's chief economist for China, Qu Hongbin, said in a statement. China's official nonmanufacturing PMI ticked up to 53.9 in February from 53.7 in January, the China Federation of Logistics and Purchasing said on Sunday.
Hong Kong stocks extend losses
Hong Kong share market declined for second straight session, on following drop in the Wall Street overnight and on caution ahead of U.S. economic data and China's announcement of its annual growth target. The Hang Seng Index ended down 237.40 points or 0.96% to 24465.38, off an intra-day high of 24705.96 and day low of 24439.29. Turnover fell slightly to HK$77.97 billion from HK$79.9 billion on Tuesday.
Telecom stocks declined the most in Hong Kong, with China Mobile falling 1.4% to HK$101.10, while smaller rival China Unicom Hong Kong lost 1.5% to HK$12.20 after the company posted a fall in its 2014 revenue, even as its profit rose 16%. Likewise, China Telecom Corp dropped 1.4% to HK$4.80.
Shares of Hong Kong retailers also posted losses as the city's retail sales dropped nearly 15% in January from a year earlier, partly due to political demonstrations and protests against mainland Chinese visitors. Cosmetics retailer Sa Sa International Holdings tanked 3.7% to HK$4.17, jeweller Chow Sang Sang Holdings International shed 3.7% to HK$18.42, Chow Tai Fook Jewellery Group lost 0.8% to HK$8.93, and Luk Fook Holdings International slipped 1.6% to HK$24.30.
Macau gaming shares declined after the territory's gambling revenue posted a ninth straight month of decline, falling by a sharp 49% in February from a year earlier. MGM China Holdings dropped 7% to HK$17.18 and Wynn Macau fell 2.8% to HK$20.55. SJM Holdings lost 3.7% to HK$10.82 and Galaxy Entertainment Group declined 2.9% to HK$38.85. Melco Crown Entertainment, which plans to delist from the Hong Kong bourse in July, rose 1.1% to HK$63.30.
Sensex hits 30000-mark in a first
Key benchmark indices retained positive zone in mid-afternoon trade after the Reserve Bank of India (RBI) surprised financial markets today, 4 March 2015, by announcing a reduction in its benchmark lending rate viz. the repo rate by 25 basis points in an unscheduled monetary policy review before trading hours today, 4 March 2015. The 50-unit CNX Nifty retained the psychological 9,000 level after crossing that mark at the onset of the trading session. The barometer index, the S&P BSE Sensex, failed to retain the psychological 30,000 level after an initial surge took the index to above that mark for the first time in its history. At 14:15 IST, the S&P BSE Sensex was up 166.04 points or 0.56% at 29,759.77. The Nifty was up 37.45 points or 0.42% at 9,033.70.
FMCG stocks advanced. Index heavyweight HDFC hit record high. Jaiprakash Power Ventures jumped after the company said it has entered into a further Standstill and Voting Agreement dated 3 March 2015 with some bond holders for a rescheduling of the company's redemption obligations in respect of foreign currency convertible bonds which matured on 13 February 2015.
Elsewhere in the Asia Pacific region: South Korea KOSPI fell 0.15% to 1998.29. Taiwan's Taiex added 0.17% to 9621.73. New Zealand NZX50 was down 0.33% to 5874.08. Indonesia's Jakarta Composite index fell 0.34% to 5455.78. Singapore's Straits Times index dropped 0.12% at 3414.84. Malaysia's KLCI was up 0.24% to 1825.54.
Investors were refraining to take new position on caution ahead to U.S. economic data and China's ceremonial legislature annual session on Thursday. China's leaders are gathered this week in Beijing, where they'll map out policies on state-owned enterprises, the environment, and deliver the nation's budget. Premier Li Keqiang is expected to announce a 2015 economic growth goal of about 7% on Thursday, when the NPC starts its annual meeting, down from last year's 7.5%. People are also hoping that there will be new policies announced to support growth.
Among Asian bourses
Nikkei falls 0.59% as yen strengthens
Japanese share market ended down in volatile trade, hurt by tracking weak cues from Wall Street overnight and yen strengthening against the greenback. The Nikkei Stock Average declined by 111.56 points, or 0.59%, to close at 18703.60, off an intra-day high of 18732.66 and day low of 18586.84. The broader Topix index decreased by 9.82 points, or 0.64%, to 1517.01.
Shares of exporters were major drag on the Tokyo, with auto makers leading the decliners. Toyota Motor Corp declined 0.3% to 8112 yen despite posting a more-than-13% rise in its February U.S. sales from a year earlier, while Nissan Motor Co saw its stock drop 1.8% to 1233.50 yen. Honda Motor Co fell 0.7% to 3970.50 yen, and Subaru maker Fuji Heavy Industries moved 1.4% lower at 4078.50 yen, but Mitsubishi Motors Corp managed to close 1.1% higher at 1099 yen, thanks to a 26% jump in its North American sales. Among the techs, Seiko Epson Corp fell 0.7% to 4515 yen, Sony Corp lost 0.6% to 3325 yen and Sharp Corp fell 5.3% to 232 yen.
Nippon Steel & Sumitomo Metal Corp was up 1.6% to 321.30 yen on reports that the steel producer planned to invest about $825 million a year on new equipment and staff.
Australia stocks extend losses
The Australian share market declined for second straight session, after the central bank's surprise decision to keep rates on hold, with banks, miners, property trusts and Telstra being major losers. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index both down by 0.5% to 5901.60 and 5871.50, respectively, extending the 0.4% loss in the previous session after the central bank confounded the expectations of some analysts by keeping its benchmark interest rate unchanged. Market turnover was relatively light, with 1.19 billion shares changing hands worth of A$3.5 billion. Rising stocks underperformed declining ones, with total of 513 stocks up, while remaining 708 down.
Financial stocks were down, with the big four banks leading retreat after the rates decision. ANZ Banking Group lost 0.4% to A$35.52, Commonwealth Bank of Australia slipped 0.9% to A$91.13, National Australia Bank shaved 0.5% to A$38.09 and Westpac dipped 0.9% to A$37.91. Investment bank Macquarie Group (MQG) was on a temporary trading halt after announcing the US$4 billion purchase of a fleet of aircraft for leasing, funded in part by a planned capital raising of just under US$400 million. MQZ last traded 2% down at A$73.52.
Materials and resources stocks also saw broad losses, with BHP Billiton diving 0.7% to A$33.31, Independence Group lost 4% to A$5.46, Fortescue Metals Group fell 5.4% to A$2.29, Oz Minerals retreated 2.9% to A$3.75. Rio Tinto was down 3.7% to A$62.40 as its shares traded ex-dividend.
Healthcare bucked the downward trend after Goldman Sachs upgraded the price target for a number of major healthcare stocks including CSL, which rose 0.4% to A$92.18.
Australia's economy grew by 0.5% in the fourth quarter of 2014 from the previous three months, according to Australia Bureau of Statistics data showed on Wednesday. Gross domestic product also rose by 2.5% from a year earlier.
China stocks bounce on bargain buying
Mainland China share market closed higher in volatile trade, boosted by bottom fishing following yesterday heavy losses. Stocks in the pharma, retailer, consumer goods, and materials and resources stocks posted strong gains after the HSBC Markit survey showed activity in China's service sector grew modestly in February as new orders rose at their quickest pace in three months. But offsetting the gains were weakness in financial and real estate stocks amid lingering worries over economic health. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, advanced 22.92 points, or 0.65%, to 3530.82, while the Shanghai Composite Index advanced 16.48 points, or 0.51%, to 3279.53, after dropping 2.2% on Tuesday.
Total of eight out of ten SSE industry groups advanced, with healthcare issue leading rally, up by 3.1%, followed by consumer discretionary (up 2.6%), consumer staples (1.9%), telecommunication services (up 1.3%), energy (up 1.3%), materials (up 0.5%), information technology (up 0.4%), and industrials (up 0.1%).
Shares pharmaceutical, media and entertainment companies climbed the most in Beijing after the HSBC Markit survey showed activity in China's service sector grew modestly in February as new orders rose at their quickest pace in three months. Harbin Pharmaceutical Group climbed 3.9%. Beijing Enlight Media Co. jumped 10%, while TCL Corp. surged 7.5%.
The HSBC China Services Purchasing Managers' Index edged up to 52.0 in February after dropping to a six-month low of 51.8 in January, HSBC Holdings PLC said Wednesday, pointing to a modest recovery outside the nation's factory sector. The reading is above 50, which indicates month-over-month expansion, while a level below that points to contraction. "The latest PMI data signalled that China's service sector remained in expansionary territory in February, though the rate of growth remained modest," HSBC's chief economist for China, Qu Hongbin, said in a statement. China's official nonmanufacturing PMI ticked up to 53.9 in February from 53.7 in January, the China Federation of Logistics and Purchasing said on Sunday.
Hong Kong stocks extend losses
Hong Kong share market declined for second straight session, on following drop in the Wall Street overnight and on caution ahead of U.S. economic data and China's announcement of its annual growth target. The Hang Seng Index ended down 237.40 points or 0.96% to 24465.38, off an intra-day high of 24705.96 and day low of 24439.29. Turnover fell slightly to HK$77.97 billion from HK$79.9 billion on Tuesday.
Telecom stocks declined the most in Hong Kong, with China Mobile falling 1.4% to HK$101.10, while smaller rival China Unicom Hong Kong lost 1.5% to HK$12.20 after the company posted a fall in its 2014 revenue, even as its profit rose 16%. Likewise, China Telecom Corp dropped 1.4% to HK$4.80.
Shares of Hong Kong retailers also posted losses as the city's retail sales dropped nearly 15% in January from a year earlier, partly due to political demonstrations and protests against mainland Chinese visitors. Cosmetics retailer Sa Sa International Holdings tanked 3.7% to HK$4.17, jeweller Chow Sang Sang Holdings International shed 3.7% to HK$18.42, Chow Tai Fook Jewellery Group lost 0.8% to HK$8.93, and Luk Fook Holdings International slipped 1.6% to HK$24.30.
Macau gaming shares declined after the territory's gambling revenue posted a ninth straight month of decline, falling by a sharp 49% in February from a year earlier. MGM China Holdings dropped 7% to HK$17.18 and Wynn Macau fell 2.8% to HK$20.55. SJM Holdings lost 3.7% to HK$10.82 and Galaxy Entertainment Group declined 2.9% to HK$38.85. Melco Crown Entertainment, which plans to delist from the Hong Kong bourse in July, rose 1.1% to HK$63.30.
Sensex hits 30000-mark in a first
Key benchmark indices retained positive zone in mid-afternoon trade after the Reserve Bank of India (RBI) surprised financial markets today, 4 March 2015, by announcing a reduction in its benchmark lending rate viz. the repo rate by 25 basis points in an unscheduled monetary policy review before trading hours today, 4 March 2015. The 50-unit CNX Nifty retained the psychological 9,000 level after crossing that mark at the onset of the trading session. The barometer index, the S&P BSE Sensex, failed to retain the psychological 30,000 level after an initial surge took the index to above that mark for the first time in its history. At 14:15 IST, the S&P BSE Sensex was up 166.04 points or 0.56% at 29,759.77. The Nifty was up 37.45 points or 0.42% at 9,033.70.
FMCG stocks advanced. Index heavyweight HDFC hit record high. Jaiprakash Power Ventures jumped after the company said it has entered into a further Standstill and Voting Agreement dated 3 March 2015 with some bond holders for a rescheduling of the company's redemption obligations in respect of foreign currency convertible bonds which matured on 13 February 2015.
Elsewhere in the Asia Pacific region: South Korea KOSPI fell 0.15% to 1998.29. Taiwan's Taiex added 0.17% to 9621.73. New Zealand NZX50 was down 0.33% to 5874.08. Indonesia's Jakarta Composite index fell 0.34% to 5455.78. Singapore's Straits Times index dropped 0.12% at 3414.84. Malaysia's KLCI was up 0.24% to 1825.54.
