Asia Pacific share market closed mixed on Friday, 24 April 2015, after
weaker global manufacturing data and on caution ahead of the Federal
Open Market Committee and the Bank of Japan's policy setting meeting
next week.
Risk sentiments were bruised amid renewed concerns over the global
economic recovery after manufacturing data across all regions were
disappointing.
A Markit Economics preliminary index of U.S. manufacturing decreased to a three-month low. A survey of Eurozone manufacturers by Markit Economics found activity slowed from March's four-year high.
A survey by HSBC Corp. found China's manufacturing activity weakened this month to its lowest level in a year in a new sign of economic weakness. A similar survey in Japan showed a third straight monthly deceleration, suggesting industries are not fully in recovery from a recession brought on by a sales tax hike in April 2014.
Among Asian bourses
Nikkei drops 0.83% on profit booking, earnings
Japanese share market registered a first fall in four consecutive sessions, amid profit booking on recently outperformer after benchmark indices climbed to a fresh 15-year high yesterday. Meanwhile, soft U.S. economic data overnight and weaker than expected corporate earnings weighed on sentiments. Also, sentiment was bruised by caution ahead of the Federal Open Market Committee and the Bank of Japan's policy setting meeting next week. The benchmark Nikkei 225 index declined 167.61 points, or 0.83%, to finish at 20020.04. The broader Topix index of all first-section shares dropped 6.03 points, or 0.37%, to 1618.84. Digital advertising agency CyberAgent Inc. tumbled 3.6% to 6130 yen, as net income and sales missed estimates.
The media and mobile advertisement agency reported net sales in the second-quarter ending in March soared 28.9% to 123.96 billion yen from 96.16 billion yen in a year ago period. Net income in the period nearly doubled to 9.87 billion yen compared to 4.96 billion yen and diluted earnings per share jumped to 157.02 yen from 79.25 yen in the same period a year ago. Kao Corp. slumped 2.6% to 5924 yen after the cosmetics maker's quarterly profit dropped more than half. The cosmetics and skincare products maker reported revenues in the first-quarter ending in March dropped 3.6% to 328.78 billion yen from 341.20 billion yen in a year ago period.
Net income in the period tumbled 52.3% to 12.02 billion yen compared to 25.20 billion yen. JFE Holding grew 0.3% to 2740 yen after the steel products maker stated net sales in the year ending in March increased 5% to 3.85 trillion yen from 3.67 trillion yen in a year ago period. Net income in the period climbed 36.1% to 139.36 billion yen compared to 102.38 billion yen. JSR Corp closed 0.2% down at 2045 yen after the elastomer and resin products maker said net sales in the year ending in March jumped 2.5% to 404.1 billion yen from 394.3 billion yen in a year ago period. Net income in the period soared 18.9% to 29.92 billion yen compared to 25.17 billion yen.
Australia market ups 1.5%
The Australian share market ended sharply higher on last trading session of the week, on the back of bargain buying across the board, with shares of energy, materials and resources, industrials, and financial companies being major gainers. The benchmark S&P/ASX 200 Index advanced 88.50 points, or 1.51%, to 5933.30, while the broader All Ordinaries Index added 86.50 points, or 1.49%, to 5906.80. Market turnover was relatively healthy, with 1.56 billion shares changing hands worth of A$3.69 billion.
Rising stocks outperformed declining ones, with total of 877 stocks up, while 510 stocks down. For the week, the S&P/ASX 200 index gained 0.94%, while the broader All Ordinaries Index lifted 0.94%. Shares of materials and resources companies were higher, led by iron-ore miners after further recovery in the iron-ore spot price. Mt. Gibson Iron rose 7.7% to A$0.21 and Arrium added 6.3% to A$0.17.
Fortescue Metals Group 5.7% to A$2.21 after strong demand for its bond offering. BC Iron climbed 5% to A$0.42, after the iron ore producer reported shipments in the third-quarter ending in March climbed 20% to 1.46 million tons with all-in cash costs of $52 per wet metric tonne for the quarter and $52 per wet metric tonne (FOB) for the month of March. Resource heavyweight BHP Billiton gained by 3.2% to A$32.05 and rival Rio Tinto jumped 2.7% to A$57.79.
Financial stocks rebounded, with top four lenders being major gainer on bargain buying following yesterday's losses after stronger-than-expected consumer price index data released on Wednesday made the market more sceptical that the Reserve Bank of Australia would cut rates in May. Commonwealth Bank added 1.5% to A$92.10, National Australia Bank 0.6% to A$38.07, ANZ Banking Group 1.3% to A$35.72, and Westpac Banking Corp 0.6% to A$38.42.
Shanghai Composite drops from seven-year high
Mainland China equity market ended lower, amid profit booking after surging to seven-year high yesterday. Sentiment was also bruised by the country's securities regulator announcement to accelerate approval of initial public offerings in an apparent effort to cool the red hot market. The Shanghai Composite Index lost 20.82 points, or 0.47%, to 4393.69 points. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, declined 38.25 points, or 0.81%, to 4702.64. The Shanghai index gained 2.5% this week.
Late on Thursday, the China Securities Regulatory Commission (CSRC) approved a new batch of 25 IPOs, and said it would publish two lists of approved IPOs each month, up from one currently. Total of six out of ten SSE industry groups advanced, with industrial issue leading the rally, up 2.5%, followed by information technology issue up 1.7%.
Meanwhile, telecommunication services sector added 1.3%, healthcare up 1.2%, and consumer staple up 0.4%. On the downside, financial was worst performer issue, with losses of 3.1%, while materials declined 1.3%, utilities shed 0.9%, and energy lost 0.7%. Shares of financial and realty companies tumbled the most among 10 industry groups. Haitong Securities Co. slid 3.8%, while Ping An Insurance (Group) Co. declined 3.7%. Poly Real Estate Group Co slid 4.1% and Gemdale Corp. retreated 2.3%.
Hang Seng rises 0.84%
A late rally has pushed the Hong Kong stock market into green territory after spending in the red for most of the session. Market sentiments was boosted by tracking a new high close of the Wall Street overnight, with energy stocks leading the rebound after benchmark crude-oil futures settled at their highest levels of the year. But, overall market gain was limited on weaker global manufacturing data. The benchmark index opened 150 points higher but reversed its trend after China approved 25 IPOs, which dragged down the A-share market. But buying in late afternoon helped pushed the benchmark above the 28,000 mark. The Hang Seng Index ended up 233.28 points or 0.84% to 28060.98, off an intra-day high of 28089.37 and day low of 27591.57.
Turnover reduced to HK$167.4 billion from HK$192 billion on Thursday. Shares of energy players advanced the most in city market after benchmark crude-oil futures settled at their highest levels of the year. Cnooc jumped 1.7%, Kunlun Energy Co 0.1%, and China Petroleum & Chemical Corp 1%. China Gas Holdings rose 0.6% and China Oilfield Services climbed 9.3%. Sinopec Shanghai Petrochemical Co jumped 9.9% after the company said it swung to profit in the first quarter of this year. Financials stocks closed higher, with HSBC rising 4.2% after the global bank said it has started a review of whether to move its headquarters out of Britain. It contributed 127-point gains to the HSI. StanChart (02888) also saw buying orders support. It shot up 3.9%.
Telecoms layers were also higher, with China Unicom Hong Kong gaining 2.2% after its first-quarter earnings dropped a smaller-than-expected 4.2%. Bigger rival China Mobile rose 0.6% and China Telecom Corp jumped 4.6%. Great Wall Motor Co declined 2.2% after German magazine report that the auto maker was in talks with Germany's Volkswagen AG for cooperation on a new budget car model and a possible investment from Volkswagen.
Sensex, Nifty hit lowest closing level in more than 14 weeks
A broad based decline was witnessed on the Indian bourses on the last trading session of the week. Index heavyweight and IT major Infosys led losses for key benchmark indices. Infosys' shares fell sharply after the company announced weak Q4 results at around 14:20 IST. The barometer index, the S&P BSE Sensex, and 50-unit CNX Nifty, both, hit their lowest closing levels in more than 14 weeks. The S&P BSE Sensex fell 297.08 points or 1.07% to settle at 27,437.94, while the CNX Nifty fell 93.05 points or 1.11% to settle at 8,305.25, its lowest closing level since 14 January 2015.
Shares of many other IT companies slipped after Infosys witnessed a steep post result slide. Bank stocks declined after the Reserve Bank of India (RBI) added medium enterprises, social infrastructure and renewable energy to the existing categories for priority sector lending while issuing revised guidelines for priority sector lending requirement by commercial banks. Realty shares slumped.
Foreign portfolio investors (FPIs) sold shares worth Rs 281.67 crore into the secondary equity market yesterday, 23 April 2015, as per data from Central Depository Services (India). Domestic institutional investors (DIIs) bought shares worth a net Rs 559.60 crore on yesterday, 23 April 2015, as per provisional data released by the stock exchanges.
Elsewhere in the Asia Pacific region: South Korea KOSPI fell 0.63% to 2159.80. Taiwan's Taiex index added 1.18% to 9913.28. New Zealand NZX50 added 0.13% to 5765.36. Singapore's Straits Times index added 0.29% at 3513. Indonesia's Jakarta Composite index fell 0.02% to 5435.35. Malaysia's KLCI was up 0.9% to 1862.58.
A Markit Economics preliminary index of U.S. manufacturing decreased to a three-month low. A survey of Eurozone manufacturers by Markit Economics found activity slowed from March's four-year high.
A survey by HSBC Corp. found China's manufacturing activity weakened this month to its lowest level in a year in a new sign of economic weakness. A similar survey in Japan showed a third straight monthly deceleration, suggesting industries are not fully in recovery from a recession brought on by a sales tax hike in April 2014.
Among Asian bourses
Nikkei drops 0.83% on profit booking, earnings
Japanese share market registered a first fall in four consecutive sessions, amid profit booking on recently outperformer after benchmark indices climbed to a fresh 15-year high yesterday. Meanwhile, soft U.S. economic data overnight and weaker than expected corporate earnings weighed on sentiments. Also, sentiment was bruised by caution ahead of the Federal Open Market Committee and the Bank of Japan's policy setting meeting next week. The benchmark Nikkei 225 index declined 167.61 points, or 0.83%, to finish at 20020.04. The broader Topix index of all first-section shares dropped 6.03 points, or 0.37%, to 1618.84. Digital advertising agency CyberAgent Inc. tumbled 3.6% to 6130 yen, as net income and sales missed estimates.
The media and mobile advertisement agency reported net sales in the second-quarter ending in March soared 28.9% to 123.96 billion yen from 96.16 billion yen in a year ago period. Net income in the period nearly doubled to 9.87 billion yen compared to 4.96 billion yen and diluted earnings per share jumped to 157.02 yen from 79.25 yen in the same period a year ago. Kao Corp. slumped 2.6% to 5924 yen after the cosmetics maker's quarterly profit dropped more than half. The cosmetics and skincare products maker reported revenues in the first-quarter ending in March dropped 3.6% to 328.78 billion yen from 341.20 billion yen in a year ago period.
Net income in the period tumbled 52.3% to 12.02 billion yen compared to 25.20 billion yen. JFE Holding grew 0.3% to 2740 yen after the steel products maker stated net sales in the year ending in March increased 5% to 3.85 trillion yen from 3.67 trillion yen in a year ago period. Net income in the period climbed 36.1% to 139.36 billion yen compared to 102.38 billion yen. JSR Corp closed 0.2% down at 2045 yen after the elastomer and resin products maker said net sales in the year ending in March jumped 2.5% to 404.1 billion yen from 394.3 billion yen in a year ago period. Net income in the period soared 18.9% to 29.92 billion yen compared to 25.17 billion yen.
Australia market ups 1.5%
The Australian share market ended sharply higher on last trading session of the week, on the back of bargain buying across the board, with shares of energy, materials and resources, industrials, and financial companies being major gainers. The benchmark S&P/ASX 200 Index advanced 88.50 points, or 1.51%, to 5933.30, while the broader All Ordinaries Index added 86.50 points, or 1.49%, to 5906.80. Market turnover was relatively healthy, with 1.56 billion shares changing hands worth of A$3.69 billion.
Rising stocks outperformed declining ones, with total of 877 stocks up, while 510 stocks down. For the week, the S&P/ASX 200 index gained 0.94%, while the broader All Ordinaries Index lifted 0.94%. Shares of materials and resources companies were higher, led by iron-ore miners after further recovery in the iron-ore spot price. Mt. Gibson Iron rose 7.7% to A$0.21 and Arrium added 6.3% to A$0.17.
Fortescue Metals Group 5.7% to A$2.21 after strong demand for its bond offering. BC Iron climbed 5% to A$0.42, after the iron ore producer reported shipments in the third-quarter ending in March climbed 20% to 1.46 million tons with all-in cash costs of $52 per wet metric tonne for the quarter and $52 per wet metric tonne (FOB) for the month of March. Resource heavyweight BHP Billiton gained by 3.2% to A$32.05 and rival Rio Tinto jumped 2.7% to A$57.79.
Financial stocks rebounded, with top four lenders being major gainer on bargain buying following yesterday's losses after stronger-than-expected consumer price index data released on Wednesday made the market more sceptical that the Reserve Bank of Australia would cut rates in May. Commonwealth Bank added 1.5% to A$92.10, National Australia Bank 0.6% to A$38.07, ANZ Banking Group 1.3% to A$35.72, and Westpac Banking Corp 0.6% to A$38.42.
Shanghai Composite drops from seven-year high
Mainland China equity market ended lower, amid profit booking after surging to seven-year high yesterday. Sentiment was also bruised by the country's securities regulator announcement to accelerate approval of initial public offerings in an apparent effort to cool the red hot market. The Shanghai Composite Index lost 20.82 points, or 0.47%, to 4393.69 points. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, declined 38.25 points, or 0.81%, to 4702.64. The Shanghai index gained 2.5% this week.
Late on Thursday, the China Securities Regulatory Commission (CSRC) approved a new batch of 25 IPOs, and said it would publish two lists of approved IPOs each month, up from one currently. Total of six out of ten SSE industry groups advanced, with industrial issue leading the rally, up 2.5%, followed by information technology issue up 1.7%.
Meanwhile, telecommunication services sector added 1.3%, healthcare up 1.2%, and consumer staple up 0.4%. On the downside, financial was worst performer issue, with losses of 3.1%, while materials declined 1.3%, utilities shed 0.9%, and energy lost 0.7%. Shares of financial and realty companies tumbled the most among 10 industry groups. Haitong Securities Co. slid 3.8%, while Ping An Insurance (Group) Co. declined 3.7%. Poly Real Estate Group Co slid 4.1% and Gemdale Corp. retreated 2.3%.
Hang Seng rises 0.84%
A late rally has pushed the Hong Kong stock market into green territory after spending in the red for most of the session. Market sentiments was boosted by tracking a new high close of the Wall Street overnight, with energy stocks leading the rebound after benchmark crude-oil futures settled at their highest levels of the year. But, overall market gain was limited on weaker global manufacturing data. The benchmark index opened 150 points higher but reversed its trend after China approved 25 IPOs, which dragged down the A-share market. But buying in late afternoon helped pushed the benchmark above the 28,000 mark. The Hang Seng Index ended up 233.28 points or 0.84% to 28060.98, off an intra-day high of 28089.37 and day low of 27591.57.
Turnover reduced to HK$167.4 billion from HK$192 billion on Thursday. Shares of energy players advanced the most in city market after benchmark crude-oil futures settled at their highest levels of the year. Cnooc jumped 1.7%, Kunlun Energy Co 0.1%, and China Petroleum & Chemical Corp 1%. China Gas Holdings rose 0.6% and China Oilfield Services climbed 9.3%. Sinopec Shanghai Petrochemical Co jumped 9.9% after the company said it swung to profit in the first quarter of this year. Financials stocks closed higher, with HSBC rising 4.2% after the global bank said it has started a review of whether to move its headquarters out of Britain. It contributed 127-point gains to the HSI. StanChart (02888) also saw buying orders support. It shot up 3.9%.
Telecoms layers were also higher, with China Unicom Hong Kong gaining 2.2% after its first-quarter earnings dropped a smaller-than-expected 4.2%. Bigger rival China Mobile rose 0.6% and China Telecom Corp jumped 4.6%. Great Wall Motor Co declined 2.2% after German magazine report that the auto maker was in talks with Germany's Volkswagen AG for cooperation on a new budget car model and a possible investment from Volkswagen.
Sensex, Nifty hit lowest closing level in more than 14 weeks
A broad based decline was witnessed on the Indian bourses on the last trading session of the week. Index heavyweight and IT major Infosys led losses for key benchmark indices. Infosys' shares fell sharply after the company announced weak Q4 results at around 14:20 IST. The barometer index, the S&P BSE Sensex, and 50-unit CNX Nifty, both, hit their lowest closing levels in more than 14 weeks. The S&P BSE Sensex fell 297.08 points or 1.07% to settle at 27,437.94, while the CNX Nifty fell 93.05 points or 1.11% to settle at 8,305.25, its lowest closing level since 14 January 2015.
Shares of many other IT companies slipped after Infosys witnessed a steep post result slide. Bank stocks declined after the Reserve Bank of India (RBI) added medium enterprises, social infrastructure and renewable energy to the existing categories for priority sector lending while issuing revised guidelines for priority sector lending requirement by commercial banks. Realty shares slumped.
Foreign portfolio investors (FPIs) sold shares worth Rs 281.67 crore into the secondary equity market yesterday, 23 April 2015, as per data from Central Depository Services (India). Domestic institutional investors (DIIs) bought shares worth a net Rs 559.60 crore on yesterday, 23 April 2015, as per provisional data released by the stock exchanges.
Elsewhere in the Asia Pacific region: South Korea KOSPI fell 0.63% to 2159.80. Taiwan's Taiex index added 1.18% to 9913.28. New Zealand NZX50 added 0.13% to 5765.36. Singapore's Straits Times index added 0.29% at 3513. Indonesia's Jakarta Composite index fell 0.02% to 5435.35. Malaysia's KLCI was up 0.9% to 1862.58.
