Asia Pacific share market mostly down on Thursday, 26 March 2015,
following a slump in offshore market overnight and an escalation of
political turmoil in Yemen. The MSCI Asia Pacific Index slipped 0.8% to
147.98.
The regional market opened lower today, as risk sentiments apparently spooked by a Wall Street sell-off overnight, where the S&P 500 falling 1.5%, after unexpectedly weak US durable goods orders and on worries that technology and biotech equities have become overvalued. The U.S. Commerce Department reported that orders to U.S. factories for long-lasting manufactured goods fell in February for the third time in four months.
Meanwhile, selloff pressure intensified on geopolitical worries triggered by news that Saudi Arabia and its Gulf Arab allies had launched air strikes in Yemen against Houthi fighters who have tightened their grip on the southern city of Aden. Risk appetite was hit further amid caution ahead of earnings reports which could show performances hurt by slowing global demand and a strong dollar.
Among Asian bourses
Australia market tumbles 1.6%
The Australian share market declined, as risk aversion selloff triggered across the board, on tracking weak cues from offshore market overnight and an escalation of political turmoil in Yemen, with financial and mining stocks being major losers. The benchmark S&P/ASX 200 Index declined 94.20 points, or 1.58%, to 5879.10, while the broader All Ordinaries Index sank 87.40 points, or 1.47%, to 5849.70. Market turnover was relatively strong, with 1.77 billion shares changing hands worth of A$5.3 billion.
Financial stocks moved lower, with top four lenders leading retreat amid heightened expectations of a further cut in interest rates. Commonwealth Bank declined 2.1% to A$93.84, Westpac Banking Corp 2.4% to A$38.95, ANZ Banking Group 2.1% to A$36.40, and National Australia Bank 1.7% to A$38.65. Regional lender Bank of Queensland dived 3.3% to A$13.89 after reporting a 19% rise in first-half cash earnings that was nonetheless slightly below market expectation.
Shares of mining companies closed down, with BHP Billiton falling 1.1% to A$30.78 and Rio Tinto decreased 0.6% to A$56.50. Iron-ore miner Fortescue Metals Group gained 3.9% to A$2.12 after the iron ore spot price rose 2% overnight. Fellow iron ore miner Arrium was up 2.3% to A$0.215. BC Iron was up 2.4% to A$0.42 after signing a new mining contract at its Nullagine joint venture in Western Australia.
Shares of energy companies traded higher, after oil prices jumped as much as 5% in Asian trade following reports of Saudi Arabian airstrikes in Yemen, raising fresh concerns of supply disruptions. The benchmark U.S. crude futures contract was up $1.85 at $51.07 a barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $1.70 to close at $49.21 a barrel on Wednesday. Woodside Petroleum gained 0.5% to A$35.27, Santos climbed 2.9% to A$7.55 and Oil Search rose 1.1% to A$7.68.
Nikkei slips 1.4%
Japanese share market retreated further from a 15-year high hit early this week, amid profit booking across the board on following negative lead from Wall Street overnight and yen hardening against the greenback. The Nikkei Stock Average declined 275.08 points, or 1.39%, to close at 19471.12. The broader Topix index dropped 23.19 points, or 1.46%, to 1568.82.
The yen appreciated against the US dollar after data showing US durable goods orders fell 1.4 per cent in February. The greenback was changing hands at Y118.5 on Thursday, down from Y119.4 yen in New York late on Wednesday and also down from Y119.6 in Tokyo earlier Wednesday.
Shares of semiconductor-related companies declined the most in Tokyo, on tracking overnight falls in their U.S. peers. Tokyo Electron lost 5.8%, while Murata Mfg. dropped 4.9% and Advantest slipped 3.7%. Fast Retailing fell 1.3%, and Sony surrendered 3.3%.
Shares of some beverage makers rose as investors took advantage of the broader market's weakness to buy high-yielding shares on the last day to capture dividend pay-outs. Sapporo added 1.4%, while Asahi Group Holdings gained 0.7%.
Oil-related stocks gained as crude futures rose sharply in New York after news broke that Saudi Arabia and its allies had intervened in Yemen's civil war, with Inpex Corp rising 2%, JX Holdings Inc adding 1.4% and Showa Shell ending up 1.1%.
China market gains for 11th time in 12 sessions
Mainland China share market closed higher in volatile trade, registering eleventh gain in last twelve sessions, on the back of gains in energy, industrial, and financial stocks. The Shanghai Composite Index closed higher 21.37 points, or 0.58%, to 3682.10. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, added 9.59 points, or 0.24%, to 3950.
Shares of energy companies advanced the most in Beijing market, on tracking rebound in crude oil futures in New York after news broke that Saudi Arabia and its allies had intervened in Yemen's civil war, with PetroChina adding 5.8% to 11.99 yuan and Offshore Oil Engineering raising 10% daily limit to 11.86 yuan.
Shares of shipbuilders also advanced, with China CSSC Holdings locking 10% upper circuit at 11.86 yuan and China Shipbuilding Industry Co (CSIC) surging 10% trading limit to 10.44 yuan after executive swaps at the firms' parent companies raised expectations of a merger.
Bank of China added 0.2% to 4.31 yuan after announcing net profit rose 8.1% to 169.6 billion yuan (US$27.3 billion) in 2014. The growth slowed from the more than 12% in profit gains recorded in 2013.
Hong Kong market falls 0.13%
Hong Kong stock market closed down, on tracking the softer performance of overseas markets, with shares of financial and material companies being major losers. The Hang Seng Index declined 31.15 points, or 0.13%, to close at 24497.08, off an intra-day high of 24592.01 and intra-day low of 24399.84. Turnover decreased slightly to HK$83.21 billion from HK$83.58 billion on Wednesday.
Mainland Chinese banks declined the most in Hong Kong, with Bank of China down 0.9% to HK$4.36, as its nonperforming loans jumped more than 30% last year and its bad-loan ratio rose to 1.18% from 0.96% a year ago, although it posted an 8% increase in profit. China Merchants Bank Co dropped 0.1% to HK$18.28, China Citic Bank Corp 0.5% to HK$5.68, and China Minsheng Banking Corp 0.9% to HK$9.05. BOCHK (02388) added 1.46% to HK$27.8 after the Chinese lender reported its 2014 earnings grew 10% to HK$24.58 billion.
Miners were also recorded substantial losses, with Jiangxi Copper Co down by 1.3% to HK$13.38, meanwhile Xingye Copper International Group retreated 3.2% to HK$0.61, and Zijin Mining Group Co dropped 2.2% to HK$2.27. Aluminum producer Aluminum Corp of China advanced 1.7% to HK$3.69 despite the company swung to a loss of 16 billion yuan ($2.6 billion) last year. Other Dairy-product maker China Mengniu Dairy Co climbed 9.8% to HK$38.70 after annuncing its net profit climbed 44% to RMB2,351 million for the year ended December 2014. The group's revenue for 2014 grew by 15.4% to RMB50,049.2 million.
Sensex tumbles on geopolitical worries
A surge in crude oil prices and weak global stocks pulled key equity benchmark indices in India sharply lower. As per provisional closing, the S&P BSE Sensex was down 507.46 points or 1.81% at 27,604.37. The CNX Nifty was down 188.65 points or 2.21% at 8,342.15.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 813.19 crore yesterday, 25 March 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 96.52 crore yesterday, 25 March 2015, as per provisional data.
Software pivotals declined as downbeat US economic data released yesterday, 25 March 2015, raised concerns about US growth. US is the biggest outsourcing market for Indian IT services firms. Infosys (down 2.16%), Wipro (down 3.54%), HCL Technologies (down 2.19%) and Tech Mahindra (down 074%) declined.
Elsewhere in the Asia Pacific region: South Korea KOSPI fell 1% to 2022.56. Taiwan's Taiex declined 0.5% to 9619.12. New Zealand NZX50 was down 0.4% to 5833.17. Indonesia's Jakarta Composite index sank 0.7% to 5368.80. Singapore's Straits Times index grew 0.37% at 3431.59. Malaysia's KLCI dropped 0.04% to 1818.42.
The regional market opened lower today, as risk sentiments apparently spooked by a Wall Street sell-off overnight, where the S&P 500 falling 1.5%, after unexpectedly weak US durable goods orders and on worries that technology and biotech equities have become overvalued. The U.S. Commerce Department reported that orders to U.S. factories for long-lasting manufactured goods fell in February for the third time in four months.
Meanwhile, selloff pressure intensified on geopolitical worries triggered by news that Saudi Arabia and its Gulf Arab allies had launched air strikes in Yemen against Houthi fighters who have tightened their grip on the southern city of Aden. Risk appetite was hit further amid caution ahead of earnings reports which could show performances hurt by slowing global demand and a strong dollar.
Among Asian bourses
Australia market tumbles 1.6%
The Australian share market declined, as risk aversion selloff triggered across the board, on tracking weak cues from offshore market overnight and an escalation of political turmoil in Yemen, with financial and mining stocks being major losers. The benchmark S&P/ASX 200 Index declined 94.20 points, or 1.58%, to 5879.10, while the broader All Ordinaries Index sank 87.40 points, or 1.47%, to 5849.70. Market turnover was relatively strong, with 1.77 billion shares changing hands worth of A$5.3 billion.
Financial stocks moved lower, with top four lenders leading retreat amid heightened expectations of a further cut in interest rates. Commonwealth Bank declined 2.1% to A$93.84, Westpac Banking Corp 2.4% to A$38.95, ANZ Banking Group 2.1% to A$36.40, and National Australia Bank 1.7% to A$38.65. Regional lender Bank of Queensland dived 3.3% to A$13.89 after reporting a 19% rise in first-half cash earnings that was nonetheless slightly below market expectation.
Shares of mining companies closed down, with BHP Billiton falling 1.1% to A$30.78 and Rio Tinto decreased 0.6% to A$56.50. Iron-ore miner Fortescue Metals Group gained 3.9% to A$2.12 after the iron ore spot price rose 2% overnight. Fellow iron ore miner Arrium was up 2.3% to A$0.215. BC Iron was up 2.4% to A$0.42 after signing a new mining contract at its Nullagine joint venture in Western Australia.
Shares of energy companies traded higher, after oil prices jumped as much as 5% in Asian trade following reports of Saudi Arabian airstrikes in Yemen, raising fresh concerns of supply disruptions. The benchmark U.S. crude futures contract was up $1.85 at $51.07 a barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $1.70 to close at $49.21 a barrel on Wednesday. Woodside Petroleum gained 0.5% to A$35.27, Santos climbed 2.9% to A$7.55 and Oil Search rose 1.1% to A$7.68.
Nikkei slips 1.4%
Japanese share market retreated further from a 15-year high hit early this week, amid profit booking across the board on following negative lead from Wall Street overnight and yen hardening against the greenback. The Nikkei Stock Average declined 275.08 points, or 1.39%, to close at 19471.12. The broader Topix index dropped 23.19 points, or 1.46%, to 1568.82.
The yen appreciated against the US dollar after data showing US durable goods orders fell 1.4 per cent in February. The greenback was changing hands at Y118.5 on Thursday, down from Y119.4 yen in New York late on Wednesday and also down from Y119.6 in Tokyo earlier Wednesday.
Shares of semiconductor-related companies declined the most in Tokyo, on tracking overnight falls in their U.S. peers. Tokyo Electron lost 5.8%, while Murata Mfg. dropped 4.9% and Advantest slipped 3.7%. Fast Retailing fell 1.3%, and Sony surrendered 3.3%.
Shares of some beverage makers rose as investors took advantage of the broader market's weakness to buy high-yielding shares on the last day to capture dividend pay-outs. Sapporo added 1.4%, while Asahi Group Holdings gained 0.7%.
Oil-related stocks gained as crude futures rose sharply in New York after news broke that Saudi Arabia and its allies had intervened in Yemen's civil war, with Inpex Corp rising 2%, JX Holdings Inc adding 1.4% and Showa Shell ending up 1.1%.
China market gains for 11th time in 12 sessions
Mainland China share market closed higher in volatile trade, registering eleventh gain in last twelve sessions, on the back of gains in energy, industrial, and financial stocks. The Shanghai Composite Index closed higher 21.37 points, or 0.58%, to 3682.10. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, added 9.59 points, or 0.24%, to 3950.
Shares of energy companies advanced the most in Beijing market, on tracking rebound in crude oil futures in New York after news broke that Saudi Arabia and its allies had intervened in Yemen's civil war, with PetroChina adding 5.8% to 11.99 yuan and Offshore Oil Engineering raising 10% daily limit to 11.86 yuan.
Shares of shipbuilders also advanced, with China CSSC Holdings locking 10% upper circuit at 11.86 yuan and China Shipbuilding Industry Co (CSIC) surging 10% trading limit to 10.44 yuan after executive swaps at the firms' parent companies raised expectations of a merger.
Bank of China added 0.2% to 4.31 yuan after announcing net profit rose 8.1% to 169.6 billion yuan (US$27.3 billion) in 2014. The growth slowed from the more than 12% in profit gains recorded in 2013.
Hong Kong market falls 0.13%
Hong Kong stock market closed down, on tracking the softer performance of overseas markets, with shares of financial and material companies being major losers. The Hang Seng Index declined 31.15 points, or 0.13%, to close at 24497.08, off an intra-day high of 24592.01 and intra-day low of 24399.84. Turnover decreased slightly to HK$83.21 billion from HK$83.58 billion on Wednesday.
Mainland Chinese banks declined the most in Hong Kong, with Bank of China down 0.9% to HK$4.36, as its nonperforming loans jumped more than 30% last year and its bad-loan ratio rose to 1.18% from 0.96% a year ago, although it posted an 8% increase in profit. China Merchants Bank Co dropped 0.1% to HK$18.28, China Citic Bank Corp 0.5% to HK$5.68, and China Minsheng Banking Corp 0.9% to HK$9.05. BOCHK (02388) added 1.46% to HK$27.8 after the Chinese lender reported its 2014 earnings grew 10% to HK$24.58 billion.
Miners were also recorded substantial losses, with Jiangxi Copper Co down by 1.3% to HK$13.38, meanwhile Xingye Copper International Group retreated 3.2% to HK$0.61, and Zijin Mining Group Co dropped 2.2% to HK$2.27. Aluminum producer Aluminum Corp of China advanced 1.7% to HK$3.69 despite the company swung to a loss of 16 billion yuan ($2.6 billion) last year. Other Dairy-product maker China Mengniu Dairy Co climbed 9.8% to HK$38.70 after annuncing its net profit climbed 44% to RMB2,351 million for the year ended December 2014. The group's revenue for 2014 grew by 15.4% to RMB50,049.2 million.
Sensex tumbles on geopolitical worries
A surge in crude oil prices and weak global stocks pulled key equity benchmark indices in India sharply lower. As per provisional closing, the S&P BSE Sensex was down 507.46 points or 1.81% at 27,604.37. The CNX Nifty was down 188.65 points or 2.21% at 8,342.15.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 813.19 crore yesterday, 25 March 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 96.52 crore yesterday, 25 March 2015, as per provisional data.
Software pivotals declined as downbeat US economic data released yesterday, 25 March 2015, raised concerns about US growth. US is the biggest outsourcing market for Indian IT services firms. Infosys (down 2.16%), Wipro (down 3.54%), HCL Technologies (down 2.19%) and Tech Mahindra (down 074%) declined.
Elsewhere in the Asia Pacific region: South Korea KOSPI fell 1% to 2022.56. Taiwan's Taiex declined 0.5% to 9619.12. New Zealand NZX50 was down 0.4% to 5833.17. Indonesia's Jakarta Composite index sank 0.7% to 5368.80. Singapore's Straits Times index grew 0.37% at 3431.59. Malaysia's KLCI dropped 0.04% to 1818.42.
