Asia Pacific share market closed mostly higher on Monday, 04 May 2015,
on tracking positive lead from US markets which ended higher on last
Friday, and expectation of more stimulus from Beijing after a weaker
than expected manufacturing survey. The MSCI Asia Pacific excluding
Japan Index advanced 0.2% to 513.97.
Share markets in the U.S. ended sharp higher on last Friday, with The Dow Jones Industrial Average, the NASDAQ Composite index and the S&P 500 Composite index all moved broadly higher by more than 1%, after weaker-than-expected data prompted investors to push back expectations on the timing of an initial rate hike by the Federal Reserve to later this year from midyear. Data last week showed that the U.S. economy grew just 0.2% in the three months to March, slowing from 2.2% in the final quarter of 2014. It was the slowest rate of growth in a year.
Meanwhile, regional markets drew further momentum on expectation of a policy response by Beijing, after HSBC's final version of its Chinese manufacturing index showed the biggest fall in a year. The HSBC China manufacturing purchasing managers index was 48.9 for April, down from a preliminary reading of 49.2 and a drop from 49.6 in March. A reading below 50 indicates a contraction in activity. The reading was also lower than an official gauge that registered 50.1 in April, unchanged from March.
Since November, the People's Bank of China has introduced a series of stimulus measures, including lowering interest rates twice and cutting the reserve requirement ratios of major banks twice, in order to spur economic activity and boost growth.
Among Asian bourses
Australia market raises 0.23%
The Australian share market ended higher, with strength in some of the top miners, retailer, consumer goods, realty, healthcare, utilities and energy stocks overcoming weakness in the big banks and financials. The benchmark S&P/ASX 200 Index added 13.10 points, or 0.23%, to 5827.50 while the broader All Ordinaries Index rose 17.10 points, or 0.29%, to 5815.90. Market turnover was relatively strong, with 1.57 billion shares changing hands worth of A$5.32 billion. Rising stocks outperformed declining ones, with total of 775 stocks up, while 589 stocks down.
Shares of mining and energy companies advanced, with resources giant BHP Billiton adding 2.6% to A$33.35 ahead of its shareholder vote due later this week on spinning off some of its non-core assets into a new company, while Rio Tinto jumped 2.8% to A$59.90. Iron ore miner Fortescue Metals Group bounced 3.4% to A$2.45. Australia's biggest oil producer Woodside Petroleum rose 0.5% to A$35.43 and Santos grew .3.1% to A$8.65. Oil Search jumped 0.9% to A$8.26.
Worley parsons declined 9.6% to A$10.35, after engineering group announced that it will cut 2000 jobs and write down A$125 million, due to falling mining investment. The company blamed the sustained weakness in the price of iron ore, which has more than halved over the past 18 month
Financial stocks were down, with Westpac Banking Corp leading losses, with loss of 3.1% to A$35.60, after the company reported a cash profit of A$3.78 billion for the first half that was flat with last year and below market expectations. Net profit, which includes one-off items, was A$3.61 billion, down from A$3.62 billion in the year-ago period. Among other top lenders, Commonwealth Bank declined by 1% to A$88.01, National Australia Bank lost 1.4% to A$36.29, and ANZ Banking Group sank 2.7% to A$33.24.
China market bounces on stimulus hopes
Mainland China equity market ended higher in volatile trading, on reinforcing speculation about further policy stimulus from government after a private business survey showed that China's factories suffered their fastest drop in activity in a year in April. The Shanghai Composite Index advanced 38.81 points, or 0.87%, to finish at 4480.46 points, off an intraday low of 4387.43. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, grew 37.85 points, or 0.8%, to 4787.74, off an intraday low of 4699.40.
Infrastructure-related stocks also jumped as investors bet the government will boost construction spending, while an overseas expansion initiative called ‘One Belt, One Road' will also increase the demand for Chinese industrial products. Construction and infrastructure-related counters drew large buy orders; China State Construction and China Shipbuilding Industry Corporation jumped by the daily maximum allowable of 10% each, while China State Shipbuilding Corporation climbed 7.8%. China State Construction Engineering Corp rose by 10% upper circuit.
Shares of property developers raised the most in Shanghai after the National Development and Reform Commission said last week that China's real estate sector is showing positive signs after the government took measures to stabilize the market. The official China Securities Journal reported that the housing market picked up in first-tier cities as sales data improved over the Labour Day holiday.
Banks and brokerage houses were among the day's laggards; Citic Securities and China Merchants Securities plunged 1.8 and 2.5% each, while Founder Securities fell 1.5%.
Hang Seng ends softer after China data
The Hong Kong stock market closed softer in volatile trade, after a weaker than expected China's manufacturing data, with some of top lenders and financials being major losers. The Hang Seng Index ended down 9.18 points or 0.03% to 28123.82, off an intra-day high of 28343.74 and day low of 28017.20. Turnover reduced slightly to HK$155.57 billion from HK$170.86 billion on Thursday. The local market closed on Friday for a public holiday.
Shares of financial companies declined, with HSBC Holdings down 1.8% to HK$75.60 ahead of the bank's release of its quarterly earnings on Tuesday. Fellow British bank Standard Chartered dipped 1.7% to HK$125.80.
Chinese insurers were mixed. NCI (01336), PICC Group (01339) and PICC & P&C (02328) added 1.3% to 3% to HK$49.65, HK$5.48 and HK$17.46. China Life (02628) and Ping An (02318) fell 0.3% and 1% to HK$110.3 and HK$37.65.
Casino operators were higher despite data showing Macau gaming sector registered gross gaming revenues of MOP19.17 billion, the lowest since January 2011. Galaxy Ent (00027) and Sands China (01928) added 3% and 3.3% to HK$38.65 and HK$32.8 respectively.
Chinese real-estate shares rallied after official China Securities Journal reported that the housing market picked up in first-tier cities as sales data improved over the Labour Day holiday. Over the weekend, figures from a leading real-estate research site showed average new-home prices in China's 100 major cities dropped by less than 0.1% on a monthly basis in April, improving from an almost 0.2% fall in the previous month. Evergrande Real Estate Group jumped 7.5% to HK$7.90, Country Garden Holdings Co 6% to HK$4.45K$HK%HK, and Shimao Property Holdings 8.6% to HK$19.94.
Sensex ends 479 points up
Indian stock market closed sharp higher on the back of hectic buying in the last half-an-hour of trade. The S&P BSE Sensex ended provisionally 1.8%, or 479.28 points, to 27490.60, while the CNX Nifty surged 1.8%, or 150.45 points, to 8332.
Shares of oil marketing companies jumped after news report that the government has decided to scrap fuel subsidy sharing. According to media reports, the government will bear the entire burden of fuel subsidy for the state-owned oil marketing companies for 2015-16. Oil and Natural Gas Corp. gained 7.6%, GAIL India rose 2.3% and Oil India jumped 6.2%.
Future Retail shares jumped 12% after the company approved a realignment of its retail operations with Bharti Retail. The retail operation of the company will be demerged and combined with Bharti Retail.
Foreign portfolio investors sold shares worth a net Rs 3157.61 crore during the previous trading session on Thursday, 30 April 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 2460.80 crore on Thursday, 30 April 2015, as per provisional data released by the stock exchanges.
Elsewhere in the Asia Pacific region: South Korea KOSPI rose 0.2% to 2132.23. Taiwan's Taiex index added 0.3% to 9845. New Zealand's NZX50 fell 0.5% to 5767. Singapore's Straits Times index fell 0.1% at 3482.70. Indonesia's Jakarta Composite index climbed up 1.1% to 5141.1. Markets in Japan, Thailand and Malaysia closed for holidays.
Share markets in the U.S. ended sharp higher on last Friday, with The Dow Jones Industrial Average, the NASDAQ Composite index and the S&P 500 Composite index all moved broadly higher by more than 1%, after weaker-than-expected data prompted investors to push back expectations on the timing of an initial rate hike by the Federal Reserve to later this year from midyear. Data last week showed that the U.S. economy grew just 0.2% in the three months to March, slowing from 2.2% in the final quarter of 2014. It was the slowest rate of growth in a year.
Meanwhile, regional markets drew further momentum on expectation of a policy response by Beijing, after HSBC's final version of its Chinese manufacturing index showed the biggest fall in a year. The HSBC China manufacturing purchasing managers index was 48.9 for April, down from a preliminary reading of 49.2 and a drop from 49.6 in March. A reading below 50 indicates a contraction in activity. The reading was also lower than an official gauge that registered 50.1 in April, unchanged from March.
Since November, the People's Bank of China has introduced a series of stimulus measures, including lowering interest rates twice and cutting the reserve requirement ratios of major banks twice, in order to spur economic activity and boost growth.
Among Asian bourses
Australia market raises 0.23%
The Australian share market ended higher, with strength in some of the top miners, retailer, consumer goods, realty, healthcare, utilities and energy stocks overcoming weakness in the big banks and financials. The benchmark S&P/ASX 200 Index added 13.10 points, or 0.23%, to 5827.50 while the broader All Ordinaries Index rose 17.10 points, or 0.29%, to 5815.90. Market turnover was relatively strong, with 1.57 billion shares changing hands worth of A$5.32 billion. Rising stocks outperformed declining ones, with total of 775 stocks up, while 589 stocks down.
Shares of mining and energy companies advanced, with resources giant BHP Billiton adding 2.6% to A$33.35 ahead of its shareholder vote due later this week on spinning off some of its non-core assets into a new company, while Rio Tinto jumped 2.8% to A$59.90. Iron ore miner Fortescue Metals Group bounced 3.4% to A$2.45. Australia's biggest oil producer Woodside Petroleum rose 0.5% to A$35.43 and Santos grew .3.1% to A$8.65. Oil Search jumped 0.9% to A$8.26.
Worley parsons declined 9.6% to A$10.35, after engineering group announced that it will cut 2000 jobs and write down A$125 million, due to falling mining investment. The company blamed the sustained weakness in the price of iron ore, which has more than halved over the past 18 month
Financial stocks were down, with Westpac Banking Corp leading losses, with loss of 3.1% to A$35.60, after the company reported a cash profit of A$3.78 billion for the first half that was flat with last year and below market expectations. Net profit, which includes one-off items, was A$3.61 billion, down from A$3.62 billion in the year-ago period. Among other top lenders, Commonwealth Bank declined by 1% to A$88.01, National Australia Bank lost 1.4% to A$36.29, and ANZ Banking Group sank 2.7% to A$33.24.
China market bounces on stimulus hopes
Mainland China equity market ended higher in volatile trading, on reinforcing speculation about further policy stimulus from government after a private business survey showed that China's factories suffered their fastest drop in activity in a year in April. The Shanghai Composite Index advanced 38.81 points, or 0.87%, to finish at 4480.46 points, off an intraday low of 4387.43. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, grew 37.85 points, or 0.8%, to 4787.74, off an intraday low of 4699.40.
Infrastructure-related stocks also jumped as investors bet the government will boost construction spending, while an overseas expansion initiative called ‘One Belt, One Road' will also increase the demand for Chinese industrial products. Construction and infrastructure-related counters drew large buy orders; China State Construction and China Shipbuilding Industry Corporation jumped by the daily maximum allowable of 10% each, while China State Shipbuilding Corporation climbed 7.8%. China State Construction Engineering Corp rose by 10% upper circuit.
Shares of property developers raised the most in Shanghai after the National Development and Reform Commission said last week that China's real estate sector is showing positive signs after the government took measures to stabilize the market. The official China Securities Journal reported that the housing market picked up in first-tier cities as sales data improved over the Labour Day holiday.
Banks and brokerage houses were among the day's laggards; Citic Securities and China Merchants Securities plunged 1.8 and 2.5% each, while Founder Securities fell 1.5%.
Hang Seng ends softer after China data
The Hong Kong stock market closed softer in volatile trade, after a weaker than expected China's manufacturing data, with some of top lenders and financials being major losers. The Hang Seng Index ended down 9.18 points or 0.03% to 28123.82, off an intra-day high of 28343.74 and day low of 28017.20. Turnover reduced slightly to HK$155.57 billion from HK$170.86 billion on Thursday. The local market closed on Friday for a public holiday.
Shares of financial companies declined, with HSBC Holdings down 1.8% to HK$75.60 ahead of the bank's release of its quarterly earnings on Tuesday. Fellow British bank Standard Chartered dipped 1.7% to HK$125.80.
Chinese insurers were mixed. NCI (01336), PICC Group (01339) and PICC & P&C (02328) added 1.3% to 3% to HK$49.65, HK$5.48 and HK$17.46. China Life (02628) and Ping An (02318) fell 0.3% and 1% to HK$110.3 and HK$37.65.
Casino operators were higher despite data showing Macau gaming sector registered gross gaming revenues of MOP19.17 billion, the lowest since January 2011. Galaxy Ent (00027) and Sands China (01928) added 3% and 3.3% to HK$38.65 and HK$32.8 respectively.
Chinese real-estate shares rallied after official China Securities Journal reported that the housing market picked up in first-tier cities as sales data improved over the Labour Day holiday. Over the weekend, figures from a leading real-estate research site showed average new-home prices in China's 100 major cities dropped by less than 0.1% on a monthly basis in April, improving from an almost 0.2% fall in the previous month. Evergrande Real Estate Group jumped 7.5% to HK$7.90, Country Garden Holdings Co 6% to HK$4.45K$HK%HK, and Shimao Property Holdings 8.6% to HK$19.94.
Sensex ends 479 points up
Indian stock market closed sharp higher on the back of hectic buying in the last half-an-hour of trade. The S&P BSE Sensex ended provisionally 1.8%, or 479.28 points, to 27490.60, while the CNX Nifty surged 1.8%, or 150.45 points, to 8332.
Shares of oil marketing companies jumped after news report that the government has decided to scrap fuel subsidy sharing. According to media reports, the government will bear the entire burden of fuel subsidy for the state-owned oil marketing companies for 2015-16. Oil and Natural Gas Corp. gained 7.6%, GAIL India rose 2.3% and Oil India jumped 6.2%.
Future Retail shares jumped 12% after the company approved a realignment of its retail operations with Bharti Retail. The retail operation of the company will be demerged and combined with Bharti Retail.
Foreign portfolio investors sold shares worth a net Rs 3157.61 crore during the previous trading session on Thursday, 30 April 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 2460.80 crore on Thursday, 30 April 2015, as per provisional data released by the stock exchanges.
Elsewhere in the Asia Pacific region: South Korea KOSPI rose 0.2% to 2132.23. Taiwan's Taiex index added 0.3% to 9845. New Zealand's NZX50 fell 0.5% to 5767. Singapore's Straits Times index fell 0.1% at 3482.70. Indonesia's Jakarta Composite index climbed up 1.1% to 5141.1. Markets in Japan, Thailand and Malaysia closed for holidays.
