Asia Pacific share market closed mixed on Friday, 29 May 2015, amid ongoing uncertainty over the state of Greek bailout talks.
Mixed signals from the ongoing Greek debt talks kept investors to remain cautious. Cash-strapped Athens said it aims to reach an agreement with lenders by Sunday, but its creditors did not share its optimism. Euro zone official said Greece won't receive any money if it does not agree on an outline of a reforms deal.
Risk sentiments were also muted ahead of U.S. economic data including revised gross domestic product data out later Friday to see if the economy actually contracted in the January-March quarter.
Concerns about a likely U.S. interest rate hike later this year and weak economic numbers of Asian countries dented sentiment in the region this week.
Among Asian bourses
Nikkei holds 15-years high level
Japanese share market extended its winning streak to the 11th straight session, on the back of yen hovering near 12-year low versus the dollar, with metal producers and energy explorers led the advance. Market gain was, however, marginal after official data showing Japan's inflation slid back to zero. The Nikkei Stock Average rose 11.69 points, or 0.1%, to end at 20563.15, the highest level since April 2000, and closing the month with a gain of 5.3%. The Topix index of all Tokyo Stock Exchange First Section issues advanced 0.05%, or 0.89 point, to 1673.65.
The yen hovered near a 12-year low versus the dollar on expectations the US Federal Reserve will raise interest rates later this year. The dollar was at 123.88 yen, compared with 123.95 yen late Thursday in New York. The dollar's upside was already capped, following comments by Japanese finance minister Taro Aso, who told reporters at a Group of Seven meeting in Germany that recent yen moves were rough.
Shares of Disco lost 2.8% after a SMBC Nikko Securities downgrade its rating for precision industrial machinery maker to Neutral from Outperform, citing shares' sharp gains in 2015 and the likelihood of an order slowdown.
Yahoo Japan surged 12% following a Nikkei business daily report that the portal will team with e-commerce giant Alibaba to expand into the Chinese market, a rich but difficult market where many foreign firms have tried and failed to access.
Government data released Friday showed that on-year growth in the core consumer price index--stripping out volatile fresh-food prices and the lingering effects of an increase in the sales tax last year--slowed to zero in April from a 0.2% rise the previous month.
The Japan Automobile Manufacturers Association said on Friday that production of cars, trucks and buses in Japan declined 7.5% on year in April, marking the 10th consecutive month of falls. Vehicle output fell to 713,155 vehicles in April from 770,591 vehicles in the same month a year earlier. Domestic vehicle demand totalled 319,482, down 7.5%.
Australia market renounces on bargain buying
The Australian share market closed higher for the first time in three consecutive days, as investors snapped up beaten-down stocks, with lenders and resource-related stocks leading rally. The benchmark S&P/ASX 200 Index added 64.10 points, or 1.12%, to 5777.20, while the broader All Ordinaries Index jumped 60.30 points, or 1.06%, to 5774.90. Market turnover was relatively healthy, with 2.8 billion shares changing hands worth of A$7.5 billion.
For the week, the All Ordinaries was up 1.9% while the S&P/ASX 200 index climbed 2%.
Shares of materials and resources companies closed higher. BHP Billiton rose 1.3% at A$29.59 and Rio Tinto added 1% to A$58.20, but Fortescue Metals Group dropped 0.4% to A$2.42.
Banks and financial stocks were also higher, with Commonwealth Bank of Australia gaining 1.9% to A$85.09, Westpac Banking Corp rising 1.3% to A$33.56, National Australia Bank adding 2.6% to A$34.32, and ANZ Banking Group climbing 1.4% to A$33.19.
Drug developer Alchemia slumped 53% to a record low of A$0.035 Despite new housing sales for April hitting a 10 year high, property stocks such as Novion Property and Federation Centres lurked mainly in the red.
China stocks close down on liquidity woes
Mainland China share market closed lower in volatile trade, on concerns over liquidity squeeze and stricter requirements for margin trading. The Shanghai Composite Index closed 8.52 points, or 0.18%, to finish at 4611.74, after briefly sliding more than 4% at early trade. The CSI300 index added 6.82 points, or 0.14%, to 4840.83. The Shanghai Composite gauge tumbled 6.5% on Thursday after brokerages tightened lending restrictions and the central bank drained cash from the financial system. The Shanghai Composite lost 1% for the week.
Investor jitters over tighter market liquidity renewed as subscriptions for 23 initial public offerings due next week which expected to lock up nearly 5 trillion yuan of liquidity.
Meanwhile, concerns about stricter requirements for margin trading resumed after China's regulators asked lenders to report their investment in stocks.
Total of 5 out of 10 SSE industry groups ended down, with energy issue being top loser, with fall of 1.2%, followed by utilities down 0.5%, financials down 0.5%, consumer staples down 0.3%, and industrials down 0.2%. On the upside- Telecommunication services issue rose 4.5%, healthcare 2.9%, information technology 2.6%, materials 0.5% and consumer discretionary 0.2%.
HSI closes nudge lower
The Hong Kong stock market finished nudge lower in seesaw trading, after yesterday's 626-point drop, triggered by a reported move by China Central Huijin Investment, a unit of China's sovereign-wealth fund, that the company had recently sold some mainland-listed shares and Exchange Traded Funds (ETF) in China's four biggest state-owned banks and other listed financial institutions. The Hang Seng Index ended down 30.12 points or 0.11% to 27424.19, off an intra-day high of 27604.27 and day low of 27255.89. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, dropped 79.19 points, or 0.56%, to 14103.81 points. Turnover reduced to HK$204.77 billion from HK$206 billion on Thursday.
Hong Kong listed major state-owned Chinese banks remained weak, with Agricultural Bank of China sagged 0.7%, Bank of China shed 0.8%, while China Construction Bank Corp rose 1.8%, and Industrial and Commercial Bank of China traded 0.3% higher.
Brokerage firms were mixed after heavy losses in the previous day. China Everbright pulled back 1.6%, while Guotai Junan International Holdings advanced 2.6% and Haitong Securities Co. recovered 1.2%.
China Merchants (00144) put on 2.86% after UBS raised its target price to HK$41.
Evergrande (03333) plunged 26.92% to HK$5.05 after it announced shares placing.
Sensex ends on a firm note
Telecom, cement and pharma stocks led rally as key benchmark indices surged on the last trading session of the week. The market breadth indicating the overall health of the market was positive. The Sensex garnered 321.73 points or 1.17% to settle at 27,828.44. The 50-unit CNX Nifty rose 114.65 points or 1.38% to settle at 8,433.65.
Foreign portfolio investors sold shares worth a net Rs 758.36 crore into the secondary equity markets yesterday, 28 May 2015, as per data from the depositories. Domestic institutional investors (DIIs) bought shares worth a net Rs 683.29 crore yesterday, 28 May 2015, as per provisional data released by the stock exchanges.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index fell 0.1% to 9701.07. South Korea's KOSPI added 0.2% to 2114.80. New Zealand's NZX50 grew 1.2% to 5844.95. Singapore's Straits Times index fell 0.8% to 3392.11. Malaysia's KLCI dropped 0.5% to 1747.52. Indonesia's Jakarta Composite index fell 0.4% to 5216.38.
Mixed signals from the ongoing Greek debt talks kept investors to remain cautious. Cash-strapped Athens said it aims to reach an agreement with lenders by Sunday, but its creditors did not share its optimism. Euro zone official said Greece won't receive any money if it does not agree on an outline of a reforms deal.
Risk sentiments were also muted ahead of U.S. economic data including revised gross domestic product data out later Friday to see if the economy actually contracted in the January-March quarter.
Concerns about a likely U.S. interest rate hike later this year and weak economic numbers of Asian countries dented sentiment in the region this week.
Among Asian bourses
Nikkei holds 15-years high level
Japanese share market extended its winning streak to the 11th straight session, on the back of yen hovering near 12-year low versus the dollar, with metal producers and energy explorers led the advance. Market gain was, however, marginal after official data showing Japan's inflation slid back to zero. The Nikkei Stock Average rose 11.69 points, or 0.1%, to end at 20563.15, the highest level since April 2000, and closing the month with a gain of 5.3%. The Topix index of all Tokyo Stock Exchange First Section issues advanced 0.05%, or 0.89 point, to 1673.65.
The yen hovered near a 12-year low versus the dollar on expectations the US Federal Reserve will raise interest rates later this year. The dollar was at 123.88 yen, compared with 123.95 yen late Thursday in New York. The dollar's upside was already capped, following comments by Japanese finance minister Taro Aso, who told reporters at a Group of Seven meeting in Germany that recent yen moves were rough.
Shares of Disco lost 2.8% after a SMBC Nikko Securities downgrade its rating for precision industrial machinery maker to Neutral from Outperform, citing shares' sharp gains in 2015 and the likelihood of an order slowdown.
Yahoo Japan surged 12% following a Nikkei business daily report that the portal will team with e-commerce giant Alibaba to expand into the Chinese market, a rich but difficult market where many foreign firms have tried and failed to access.
Government data released Friday showed that on-year growth in the core consumer price index--stripping out volatile fresh-food prices and the lingering effects of an increase in the sales tax last year--slowed to zero in April from a 0.2% rise the previous month.
The Japan Automobile Manufacturers Association said on Friday that production of cars, trucks and buses in Japan declined 7.5% on year in April, marking the 10th consecutive month of falls. Vehicle output fell to 713,155 vehicles in April from 770,591 vehicles in the same month a year earlier. Domestic vehicle demand totalled 319,482, down 7.5%.
Australia market renounces on bargain buying
The Australian share market closed higher for the first time in three consecutive days, as investors snapped up beaten-down stocks, with lenders and resource-related stocks leading rally. The benchmark S&P/ASX 200 Index added 64.10 points, or 1.12%, to 5777.20, while the broader All Ordinaries Index jumped 60.30 points, or 1.06%, to 5774.90. Market turnover was relatively healthy, with 2.8 billion shares changing hands worth of A$7.5 billion.
For the week, the All Ordinaries was up 1.9% while the S&P/ASX 200 index climbed 2%.
Shares of materials and resources companies closed higher. BHP Billiton rose 1.3% at A$29.59 and Rio Tinto added 1% to A$58.20, but Fortescue Metals Group dropped 0.4% to A$2.42.
Banks and financial stocks were also higher, with Commonwealth Bank of Australia gaining 1.9% to A$85.09, Westpac Banking Corp rising 1.3% to A$33.56, National Australia Bank adding 2.6% to A$34.32, and ANZ Banking Group climbing 1.4% to A$33.19.
Drug developer Alchemia slumped 53% to a record low of A$0.035 Despite new housing sales for April hitting a 10 year high, property stocks such as Novion Property and Federation Centres lurked mainly in the red.
China stocks close down on liquidity woes
Mainland China share market closed lower in volatile trade, on concerns over liquidity squeeze and stricter requirements for margin trading. The Shanghai Composite Index closed 8.52 points, or 0.18%, to finish at 4611.74, after briefly sliding more than 4% at early trade. The CSI300 index added 6.82 points, or 0.14%, to 4840.83. The Shanghai Composite gauge tumbled 6.5% on Thursday after brokerages tightened lending restrictions and the central bank drained cash from the financial system. The Shanghai Composite lost 1% for the week.
Investor jitters over tighter market liquidity renewed as subscriptions for 23 initial public offerings due next week which expected to lock up nearly 5 trillion yuan of liquidity.
Meanwhile, concerns about stricter requirements for margin trading resumed after China's regulators asked lenders to report their investment in stocks.
Total of 5 out of 10 SSE industry groups ended down, with energy issue being top loser, with fall of 1.2%, followed by utilities down 0.5%, financials down 0.5%, consumer staples down 0.3%, and industrials down 0.2%. On the upside- Telecommunication services issue rose 4.5%, healthcare 2.9%, information technology 2.6%, materials 0.5% and consumer discretionary 0.2%.
HSI closes nudge lower
The Hong Kong stock market finished nudge lower in seesaw trading, after yesterday's 626-point drop, triggered by a reported move by China Central Huijin Investment, a unit of China's sovereign-wealth fund, that the company had recently sold some mainland-listed shares and Exchange Traded Funds (ETF) in China's four biggest state-owned banks and other listed financial institutions. The Hang Seng Index ended down 30.12 points or 0.11% to 27424.19, off an intra-day high of 27604.27 and day low of 27255.89. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, dropped 79.19 points, or 0.56%, to 14103.81 points. Turnover reduced to HK$204.77 billion from HK$206 billion on Thursday.
Hong Kong listed major state-owned Chinese banks remained weak, with Agricultural Bank of China sagged 0.7%, Bank of China shed 0.8%, while China Construction Bank Corp rose 1.8%, and Industrial and Commercial Bank of China traded 0.3% higher.
Brokerage firms were mixed after heavy losses in the previous day. China Everbright pulled back 1.6%, while Guotai Junan International Holdings advanced 2.6% and Haitong Securities Co. recovered 1.2%.
China Merchants (00144) put on 2.86% after UBS raised its target price to HK$41.
Evergrande (03333) plunged 26.92% to HK$5.05 after it announced shares placing.
Sensex ends on a firm note
Telecom, cement and pharma stocks led rally as key benchmark indices surged on the last trading session of the week. The market breadth indicating the overall health of the market was positive. The Sensex garnered 321.73 points or 1.17% to settle at 27,828.44. The 50-unit CNX Nifty rose 114.65 points or 1.38% to settle at 8,433.65.
Foreign portfolio investors sold shares worth a net Rs 758.36 crore into the secondary equity markets yesterday, 28 May 2015, as per data from the depositories. Domestic institutional investors (DIIs) bought shares worth a net Rs 683.29 crore yesterday, 28 May 2015, as per provisional data released by the stock exchanges.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index fell 0.1% to 9701.07. South Korea's KOSPI added 0.2% to 2114.80. New Zealand's NZX50 grew 1.2% to 5844.95. Singapore's Straits Times index fell 0.8% to 3392.11. Malaysia's KLCI dropped 0.5% to 1747.52. Indonesia's Jakarta Composite index fell 0.4% to 5216.38.
