Asia Pacific share market closed mostly higher on Friday, 10 April 2015,
on the back of positive lead from Wall Street overnight and after news
that Greece had made a 450 million euro loan payment to the
International Monetary Fund. The MSCI Asia Pacific Index added 0.3% to
152.24.
On Wall Street, the three main indexes ended higher on Thursday after the Labor Department said the number of first-time unemployment claims filed in the past four weeks fell to a nearly 15-year low. The Dow rose 0.31%, the S&P 500 gained 0.45% and the Nasdaq advanced 0.48%.
But, market gains were limited amid growing concern over U.S. rate hike by the middle of the year. The New York Federal Reserve President William Dudley said Wednesday that the timing of a rate hike depends on economic data and added that a rate hike in June could still be possible if the labor market recovery remained strong. Meanwhile, Wednesday's minutes of the Fed's March meeting showed that several officials believe risks from overseas and a weak start to the year at their March meeting. But they remained confident enough in the strength of the economic recovery to continue laying the groundwork for an interest rate hike later this year. Further, the U.S. Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits last week rose less-than-expected.
On the data front, Australian home loans rose less than expected by 1.2% in February. January's figure was revised to a 1.7% drop from a previously estimated 3.5% decline. China CPI was unchanged at 1.4% yoy in March while PPI rose to -4.6% yoy.
Among Asian bourses
Australia market bounces 0.6%
The Australian share market finished the session higher on Friday, 10 April 2015, on tracking a positive cues from Wall Street overnight, with energy, retailers, pharmaceutical, utilities, industrial, and financial sectors making solid contributions. The benchmark S&P/ASX 200 Index advanced 36.20 points, or 0.61%, to 5968.40, while the broader All Ordinaries Index fell 33.90 points, or 0.57%, to 5935.40. Market turnover was healthy, with 1.44 billion shares changing hands worth of A$3.49 billion.
Shares of materials and resources companies declined as iron ore remains near record low prices after China's Metallurgical Industry Planning Association forecast weaker demand for iron ore. BHP Billiton was down 0.2% to A$30.14 but Rio Tinto rose 0.6% to A$56.89. Fortescue Metals Group dropped 4% to A$1.815.
Energy players were biggest gainers in the Australia Stock Exchange after a recovery in the oil price, with Woodside Petroleum adding 2.3% to A$34.90, while Santos jumped 2% to A$7.52, and Oil Search climbed up 1.4% to A$7.73.
Financial stocks rebounded, with top for lenders leading the rally, amid strong probability that the Reserve Bank of Australia will lower its cash rate target from 2.25% to a record low 2.0% in May. Commonwealth Bank added 0.3% to A$94.13, ANZ Banking Group 0.5% to A$36.80, Westpac Banking Corp 0.9% to A$39.88 and National Australia Bank 0.4% to A$39.52.
The Australian Bureau of Statistics said on Friday that the value of loans for investment housing fell 3.4% in February 2015 from sequential previous month. The total number of home-loan approvals rose a seasonally-adjusted 1.2% in February from January.
Nikkei slips from 15-year high
Japanese share market benchmark Nikkei Stock Average finished the session down, as investors turned to take profits after briefly raising above the psychologically important 20,000 mark for the first time in 15 years during the morning session. The benchmark Nikkei 225 index declined 30.09 points, or 0.15%, to finish at 19907.63, while the broader Topix index of all first-section shares advanced 5.72 points, or 0.4%, to 1594.19. For the week, the benchmark Nikkei Stock Average added 2.4% and the Topix gained 1.6%.
Fast Retailing Co. gained 2.5% to 49700 yen after boosting its profit forecast. The retailer raised its forecast for annual profit by 20% to 120 billion yen ($998 million), citing strong domestic and international sales at its Uniqlo stores. For the six months to the end of February, Fast Retailing said net profit reached 104.7 billion yen, a 56.2% rise from the 67.1 billion yen logged a year ago. The firm's operating profit climbed 40.2% to 150.1 billion yen on sales of 949.7 billion yen, which was up 24.2% from the same period a year ago.
Aeon Co. jumped 5.5% to 1523 yen after the supermarket operator's full-year net-income outlook beat estimates. The supermarket operator forecast profit of 42.5 billion yen for this fiscal year.
Ryohin Keikaku added 12% as its fiscal year Y23.8 billion operating profit matched expectations, while its outlook called for robust growth based on increased store openings in Japan and abroad.
Kansai Electric Power Co. fell 2% to 1144.50 yen after reports the company was losing contracts to cheaper utilities.
The Bank of Japan has released monthly bank-lending data on Friday, showing Outstanding bank loans rose 2.7% year over year to Y424.87 trillion in March - its 42nd consecutive rise. The pace of increase accelerated from 2.6% in February. Outstanding loans by large banks rose 1.5% y/y in March - the 28th consecutive rise - with the pace of growth accelerating from 1.3% the previous month. Meanwhile, growth in lending by regional banks was unchanged at 3.9% but this was higher than that of large banks - indicating more small businesses are seeking funds as the economy picks up gradually from a brief slump last year.
Shanghai Composite hits seven-year high
Mainland China equity market finished the session at fresh multi-year high, amid growing expectations of more policy easing after a tepid inflation data. The Shanghai Composite Index advanced 76.78 points, or 1.94% to 4034.31 at the close, its highest level since March 2008. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, jumped 82.28 points, or 1.93%, to 4344.42.
All ten SSE industry groups advanced, with consumer staples issue leading the rally, with a gain of 3.2%, followed by information technology which ended 3% higher. Meanwhile, healthcare sector jumped 2.9%, consumer discretionary 2.6%, financial 1.9%, materials 1.8%, industrials 1.6%, telecommunication services 1.6% and utilities 1.5%.
China's consumer price index rose 1.4% in March from a year earlier, the same as the increase in February, data from the National Bureau of Statistics showed early in the day, while producer prices (PPI) contracted 4.6%, improving slightly from a 4.8% decline in February from a year earlier. The CPI declined 0.5% in March from February, when it rose 1.2% from the preceding month. The PPI also declined 0.1% in March from February, when it fell 0.7% from the preceding month.
Hang Seng hits fresh seven-year high
Hong Kong stock market finished volatile session at fresh seven-year high, on the back of Beijing's decision to let mainland money managers buy H-shares last week, as well as a recent move by the China Insurance Regulatory Commission to allow mainland insurance firms to invest in Hong Kong's Growth Enterprise Market for the first time. The benchmark index opened 429 points and it marked the intra-day high. It fell 132 points at one point but the A-share market recovered in afternoon session, lending support to the local market. The Hang Seng Index ended up 328 points or 1.22% to 27,272.39, off an intra-day high of 27,373.68 and day low of 26,812.75. Turnover reduced to HK$221 billion from HK$292 billion on Thursday.
Ping An (02318) was the top blue chip winner, rising 6% to HK$104.3. Belle (01880) put on 4.5% to HK$11.04. HKEx (00388) benefited from robust market activities, jumping 3.9% to HK$249. But Mengniu Dairy (02319) and Want Want (00151) slid 4% and 2% to HK$43.35 and HK$8.98 respectively, making themselves the worst blue chip losers.
GF Sec (01776) ended its market debut at HK$25.4, or 34.7% above its IPO price of HK$18.85. The Shenzhen-listed company had priced its shares at HK$18.85 - the top of the indicative range - raising $3.6 billion.
Sensex, Nifty end on a mixed note
A divergent trend was witnessed among key benchmark indices. The barometer index, the S&P BSE Sensex, provisionally registered small losses whereas the 50-unit CNX Nifty settled slightly higher. The Sensex was provisionally off 50.65 points or 0.18% at 28,834.56. The Nifty was provisionally up 2.05 points or 0.02% at 8,780.35.
Shares of private sector banks dropped. Index heavyweight and housing finance major HDFC edged lower. Metal stocks were mixed. Capital goods stocks dropped.
Meanwhile, a committee headed by M S Sahoo, a former member of the Securities and Exchange Board of India (Sebi), has reportedly suggested removal of the limits on corporates' external commercial borrowings (ECBs).
Meanwhile, global credit rating agency Fitch Ratings yesterday, 9 April 2015, affirmed India's sovereign credit rating at 'BBB-' with a stable outlook. The government's broad-based structural reform agenda has brought dynamism back to the Indian economy after a couple of years of limited progress on the structural front, the rating agency said adding that India's sovereign ratings are constrained by limited improvement in India's fiscal position, which is a long standing key weakness.
Foreign portfolio investors (FPIs) bought Indian shares worth a net Rs 193.81 crore yesterday, 9 April 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 492.79 crore yesterday, 9 April 2015, as per provisional data.
Elsewhere in the Asia Pacific region: South Korea KOSPI added 0.1.4% to 2087.76. Taiwan's Taiex jumped 0.52% to 9617.70. New Zealand NZX50 was flat at 5847.36. Singapore's Straits Times index added 0.35% at 3472.38. Malaysia's KLCI slipped 0.27% to 1844.31. Indonesia's Jakarta Composite index sank 0.17% to 5491.34.
On Wall Street, the three main indexes ended higher on Thursday after the Labor Department said the number of first-time unemployment claims filed in the past four weeks fell to a nearly 15-year low. The Dow rose 0.31%, the S&P 500 gained 0.45% and the Nasdaq advanced 0.48%.
But, market gains were limited amid growing concern over U.S. rate hike by the middle of the year. The New York Federal Reserve President William Dudley said Wednesday that the timing of a rate hike depends on economic data and added that a rate hike in June could still be possible if the labor market recovery remained strong. Meanwhile, Wednesday's minutes of the Fed's March meeting showed that several officials believe risks from overseas and a weak start to the year at their March meeting. But they remained confident enough in the strength of the economic recovery to continue laying the groundwork for an interest rate hike later this year. Further, the U.S. Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits last week rose less-than-expected.
On the data front, Australian home loans rose less than expected by 1.2% in February. January's figure was revised to a 1.7% drop from a previously estimated 3.5% decline. China CPI was unchanged at 1.4% yoy in March while PPI rose to -4.6% yoy.
Among Asian bourses
Australia market bounces 0.6%
The Australian share market finished the session higher on Friday, 10 April 2015, on tracking a positive cues from Wall Street overnight, with energy, retailers, pharmaceutical, utilities, industrial, and financial sectors making solid contributions. The benchmark S&P/ASX 200 Index advanced 36.20 points, or 0.61%, to 5968.40, while the broader All Ordinaries Index fell 33.90 points, or 0.57%, to 5935.40. Market turnover was healthy, with 1.44 billion shares changing hands worth of A$3.49 billion.
Shares of materials and resources companies declined as iron ore remains near record low prices after China's Metallurgical Industry Planning Association forecast weaker demand for iron ore. BHP Billiton was down 0.2% to A$30.14 but Rio Tinto rose 0.6% to A$56.89. Fortescue Metals Group dropped 4% to A$1.815.
Energy players were biggest gainers in the Australia Stock Exchange after a recovery in the oil price, with Woodside Petroleum adding 2.3% to A$34.90, while Santos jumped 2% to A$7.52, and Oil Search climbed up 1.4% to A$7.73.
Financial stocks rebounded, with top for lenders leading the rally, amid strong probability that the Reserve Bank of Australia will lower its cash rate target from 2.25% to a record low 2.0% in May. Commonwealth Bank added 0.3% to A$94.13, ANZ Banking Group 0.5% to A$36.80, Westpac Banking Corp 0.9% to A$39.88 and National Australia Bank 0.4% to A$39.52.
The Australian Bureau of Statistics said on Friday that the value of loans for investment housing fell 3.4% in February 2015 from sequential previous month. The total number of home-loan approvals rose a seasonally-adjusted 1.2% in February from January.
Nikkei slips from 15-year high
Japanese share market benchmark Nikkei Stock Average finished the session down, as investors turned to take profits after briefly raising above the psychologically important 20,000 mark for the first time in 15 years during the morning session. The benchmark Nikkei 225 index declined 30.09 points, or 0.15%, to finish at 19907.63, while the broader Topix index of all first-section shares advanced 5.72 points, or 0.4%, to 1594.19. For the week, the benchmark Nikkei Stock Average added 2.4% and the Topix gained 1.6%.
Fast Retailing Co. gained 2.5% to 49700 yen after boosting its profit forecast. The retailer raised its forecast for annual profit by 20% to 120 billion yen ($998 million), citing strong domestic and international sales at its Uniqlo stores. For the six months to the end of February, Fast Retailing said net profit reached 104.7 billion yen, a 56.2% rise from the 67.1 billion yen logged a year ago. The firm's operating profit climbed 40.2% to 150.1 billion yen on sales of 949.7 billion yen, which was up 24.2% from the same period a year ago.
Aeon Co. jumped 5.5% to 1523 yen after the supermarket operator's full-year net-income outlook beat estimates. The supermarket operator forecast profit of 42.5 billion yen for this fiscal year.
Ryohin Keikaku added 12% as its fiscal year Y23.8 billion operating profit matched expectations, while its outlook called for robust growth based on increased store openings in Japan and abroad.
Kansai Electric Power Co. fell 2% to 1144.50 yen after reports the company was losing contracts to cheaper utilities.
The Bank of Japan has released monthly bank-lending data on Friday, showing Outstanding bank loans rose 2.7% year over year to Y424.87 trillion in March - its 42nd consecutive rise. The pace of increase accelerated from 2.6% in February. Outstanding loans by large banks rose 1.5% y/y in March - the 28th consecutive rise - with the pace of growth accelerating from 1.3% the previous month. Meanwhile, growth in lending by regional banks was unchanged at 3.9% but this was higher than that of large banks - indicating more small businesses are seeking funds as the economy picks up gradually from a brief slump last year.
Shanghai Composite hits seven-year high
Mainland China equity market finished the session at fresh multi-year high, amid growing expectations of more policy easing after a tepid inflation data. The Shanghai Composite Index advanced 76.78 points, or 1.94% to 4034.31 at the close, its highest level since March 2008. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, jumped 82.28 points, or 1.93%, to 4344.42.
All ten SSE industry groups advanced, with consumer staples issue leading the rally, with a gain of 3.2%, followed by information technology which ended 3% higher. Meanwhile, healthcare sector jumped 2.9%, consumer discretionary 2.6%, financial 1.9%, materials 1.8%, industrials 1.6%, telecommunication services 1.6% and utilities 1.5%.
China's consumer price index rose 1.4% in March from a year earlier, the same as the increase in February, data from the National Bureau of Statistics showed early in the day, while producer prices (PPI) contracted 4.6%, improving slightly from a 4.8% decline in February from a year earlier. The CPI declined 0.5% in March from February, when it rose 1.2% from the preceding month. The PPI also declined 0.1% in March from February, when it fell 0.7% from the preceding month.
Hang Seng hits fresh seven-year high
Hong Kong stock market finished volatile session at fresh seven-year high, on the back of Beijing's decision to let mainland money managers buy H-shares last week, as well as a recent move by the China Insurance Regulatory Commission to allow mainland insurance firms to invest in Hong Kong's Growth Enterprise Market for the first time. The benchmark index opened 429 points and it marked the intra-day high. It fell 132 points at one point but the A-share market recovered in afternoon session, lending support to the local market. The Hang Seng Index ended up 328 points or 1.22% to 27,272.39, off an intra-day high of 27,373.68 and day low of 26,812.75. Turnover reduced to HK$221 billion from HK$292 billion on Thursday.
Ping An (02318) was the top blue chip winner, rising 6% to HK$104.3. Belle (01880) put on 4.5% to HK$11.04. HKEx (00388) benefited from robust market activities, jumping 3.9% to HK$249. But Mengniu Dairy (02319) and Want Want (00151) slid 4% and 2% to HK$43.35 and HK$8.98 respectively, making themselves the worst blue chip losers.
GF Sec (01776) ended its market debut at HK$25.4, or 34.7% above its IPO price of HK$18.85. The Shenzhen-listed company had priced its shares at HK$18.85 - the top of the indicative range - raising $3.6 billion.
Sensex, Nifty end on a mixed note
A divergent trend was witnessed among key benchmark indices. The barometer index, the S&P BSE Sensex, provisionally registered small losses whereas the 50-unit CNX Nifty settled slightly higher. The Sensex was provisionally off 50.65 points or 0.18% at 28,834.56. The Nifty was provisionally up 2.05 points or 0.02% at 8,780.35.
Shares of private sector banks dropped. Index heavyweight and housing finance major HDFC edged lower. Metal stocks were mixed. Capital goods stocks dropped.
Meanwhile, a committee headed by M S Sahoo, a former member of the Securities and Exchange Board of India (Sebi), has reportedly suggested removal of the limits on corporates' external commercial borrowings (ECBs).
Meanwhile, global credit rating agency Fitch Ratings yesterday, 9 April 2015, affirmed India's sovereign credit rating at 'BBB-' with a stable outlook. The government's broad-based structural reform agenda has brought dynamism back to the Indian economy after a couple of years of limited progress on the structural front, the rating agency said adding that India's sovereign ratings are constrained by limited improvement in India's fiscal position, which is a long standing key weakness.
Foreign portfolio investors (FPIs) bought Indian shares worth a net Rs 193.81 crore yesterday, 9 April 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 492.79 crore yesterday, 9 April 2015, as per provisional data.
Elsewhere in the Asia Pacific region: South Korea KOSPI added 0.1.4% to 2087.76. Taiwan's Taiex jumped 0.52% to 9617.70. New Zealand NZX50 was flat at 5847.36. Singapore's Straits Times index added 0.35% at 3472.38. Malaysia's KLCI slipped 0.27% to 1844.31. Indonesia's Jakarta Composite index sank 0.17% to 5491.34.
