Asia Pacific share market advanced on last trading session of the week,
Friday, 17 July 2015, as risk appetite buying boosted up by tracking
excellent performance of the Wall Street overnight. Sentiment also
underpinned by calming fears over Greece's debt crisis and China's stock
market rout. The MSCI Asia Pacific Index gained 0.3% to 144.73, heading
for a 2.6% advance this week.
Wall Street shares closed higher on Thursday, with the Nasdaq Composite closing at a record high on the back of upbeat earnings news. Google, which reported earnings after Thursday's market close, posted quarterly profits that topped analyst expectations.
Greece on Thursday won vital pledges of support from bailout lenders needed to keep its economy from collapsing after Greek parliament approved the painful austerity measures demanded in return. The ECB announced it was increasing emergency credit to Greek banks, adding another 900 million euros ($980 million) in support over one week. And eurozone lenders pledged short-term loans so Greece can cover its debts and negotiations for a new three-year bailout worth 85 billion euros ($93 billion).
Among Asian bourses
Japan stocks gain for fifth day
Japanese share market advanced for fifth straight session on tracking excellent performance of the Wall Street overnight, coupled with calming fears over Greece's debt crisis and China's stock market rout. Sentiment also received a boost from the yen weakening against a basket of major currencies. The Nikkei Stock Average advanced 50.80 points, or 0.25%, to end at 20650.92 points. The broader Topix index rose 0.13%, or 2.11 points, to close at 1662.94 points, accumulating 5% gain this week.
Shares of Export-related companies were top gainers in the Tokyo market, thanks to yen slide 124 level against the greenback. The yen held at 124.05 per dollar after sliding 0.3% on Thursday. A weaker yen is positive for Japanese exporters as it makes products cheaper overseas and amplifies their profits when repatriated. Panasonic Corp added 0.2%, Canon Inc 1.4%, and Nissan Motor Co 0.3%.Nintendo Co added 1.4% and Alps Electric Co rallied 0.8%.Unicharm Corp advanced 1.7%on reports that the diaper-maker to post a 3% rise in six-month net profit.
Shares of semiconductor-related stocks, however, mostly declined, with Tokyo Electron, which manufactures chip-making equipment, falling 1.8% while chip tester maker Advantest fell 1.6%. Sharp lost 3.5% after reports that the firm could suffer an operating loss of about Y35 billion ($280 million) for the April-June quarter.
Tokio Marine Holdings Inc. gained 3% after the insurer announced plans to utilize its ties with Citic Group Corp., China's biggest conglomerate, to expand in that country.
Australia market ends flat
The Australian share market ended higher, but gains were marginal, as some investors cashed in profit following strong recent run. The benchmark S&P/ASX 200 Index added 0.5 point, or 0.01%, to 5670.10, while the broader All Ordinaries Index rose 2.70 points, or 0.05%, to 5652.50. The benchmark index rallied for last fourth sessions, accumulating 3.2% gain for the week.
Financial sector ended 0.2% down, as some of heavily weighted lenders gave back some of their strong gains earlier in the week, with Australia & New Zealand Banking Group falling 0.6% to A$32.44 and Westpac Banking Corp declining 0.2% to A$34.57. Whilst, National Australia Bank rose marginal 0.06% to A$34.34 and Commonwealth Bank of Australia edged up 0.02% to A$87.98.
Material sector was 0.1%, higher, on the back of gain bullion miners. Shares of gold miner Newcrest Mining rose 1.4% to A$13.20 and Perseus Mining jumped 2.3% to A$0.44. Regis Resources rallied 26% as it attracted buyers following a conference call to update institutional investors. Resource giant BHP Billiton was up 0.1% to A$27.10, while Rio Tinto lost 0.6% to A$53.01 after trimming its iron-ore output guidance. Fortescue Metals Group declined 2% to A$1.715 after the price of iron ore fell 0.2% Thursday to US$50 a metric tonne.
Santos fell 0.8% to A$7.66 after reporting a 19% drop in sales revenue to A$786 million for the second quarter due to a fall in oil prices from a year earlier. Output in the quarter was 12% ahead on the same period last year, at 14.3 million barrels of oil equivalent, and climbed 2% from the March quarter. The average price for oil sold in the quarter was A$82.59 a barrel, down 32% from a year earlier. Santos maintained all its guidance for the full year, including production of between 57 million and 64 million boe, and capital expenditure of A$2 billion.
Whitehaven Coal rallied 9% to A$1.27, basking in the glow of a Credit Suisse ratings upgrade to its shares, to outperform from neutral. Whitehaven Coal also said midweek that growing demand for high quality thermal coal in Asia should stop the price falling below the dismal current price of $US60 a tonne, but the miner expects metallurgical coal prices will take a hit in the current quarter.
China stocks rally on funds support
Mainland China's stock market ended higher, marking a second day of winning streak, on easing liquidity concerns after reports that China Securities Finance Corp., a state-backed agency that provides margin finance and liquidity to the market, has offered 2.5 trillion yuan to 3 trillion yuan liquidity support to brokerages and to purchase stocks and mutual funds.
Sentiment also received a boost after more companies resumed trading amid signs of revival. The benchmark Shanghai Composite Index advanced 134.18 points, or 3.51%, to finish at 3957.35 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 5%, or 103.90 points, to 2190.42 points. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, climbed 5.95% to end at 2783.32 points. The Shanghai Composite Index gained 2.1% for the week.
As per reports, total of 545 stocks were halted on mainland exchanges Friday, about 19% of all listings, down from more than 1,300 at the end of last week.
Caijing, a well-known Chinese financial magazine, also reported that 17 banks granted a credit line of 2 trillion yuan to China Securities Finance.
Shares of technology and phone makers jumped the most in SSE industry groups. GoerTek Inc rallied by the daily limit of 10%. ZTE Corp. surged 7%.
Property developer shares were also ended stronger, with Poly Real Estate Group Co. and Gemdale Corp. gained at least 3%, ahead of official new-home prices data on Saturday.
Hong Kong market extends rally
The Hong Kong stock market extended gains for second consecutive day, on tracking strong rally on the Wall Street overnight and Mainland China A-share markets today. Buying sentiment has also perked up as worries about a Greek exit from the euro have melted away. The Hang Seng Index rallied 252.49 points, or 1%, to finish at 25415.27 points, off an intra-day low of 25183.86. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, gained 101.06 points, or 0.86%, to 11850.14 points. Turnover increased slightly to HK$95.1 billion from HK$91.6 billion on Thursday.
Shares of Technology Company advanced after Google quarterly profits topped analyst expectations. Tencent (00700) put on 2.4% to HK$153.6. Founder Holdings (00418) added 3% to HK$0.67. Kingdee (00268) and Kingsoft (03888) gained 4% to HK$4.09 and HK$22.65 respectively.
Brokerage stocks were also advanced on reports that China Securities Finance Corp distributed its committed credit line of RMB260 billion to 21 securities firms. The firms could allocate the fund on their own discretion. CITIC Sec (06030) shot up 8.7% to HK$24.25. Haitong Sec (06837) rose 7% to HK$15.92. Haitong Int'l (00665) and China EB (00165) jumped 6.8% to HK$5.03 and HK$8.22.
Civil aviation stock advanced, led by China Eastern Airlines (00670), up 6.6% to HK$6.82, after the release of positive profit alert and bullish comments from research houses. UOB Kay Hian raised its target price for China Eastern Airlines to HK$7.6 from HK$6, and maintained its "buy" call. Other carriers were also higher, with China Southern Airlines (01055) up by 2% to HK$8.46, while Cathay Pacific (00293) put on 1.5% to HK$19.46.
Sensex registers small gain
Indian stock market ended slight higher in subdued trade today. As per provisional figures, the S&P BSE Sensex was up 28.09 points or 0.1% at 28,474.21and the Nifty was up 5.50 points or 0.06% at 8,613.55. For the week, the benchmark index added 802 points, or 2.9%.
Shares of private banks fell around 1% on profit taking after reports surfaced which suggested that the FII limit for the banks will be retained at 49%. Private sector banking stocks had run up yesterday after the cabinet simplified rules for foreign investment. Analysts had anticipated that the move will allow private sector banks to raise capital up to foreign ownership limit of 74%.
Foreign portfolio investors (FPIs) bought Indian shares worth a net Rs 745.81 crore yesterday, 16 July 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 98.51 crore yesterday, 16 July 2015, as per provisional data released by the stock exchanges.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index edged up 0.04% to 9046. South Korea's KOSPI fell 0.5% to 2076.79. New Zealand's NZX50 added 0.5% to 5853.76. Share market of Indonesia, Malaysia, and Singapore closed for public holiday.
Wall Street shares closed higher on Thursday, with the Nasdaq Composite closing at a record high on the back of upbeat earnings news. Google, which reported earnings after Thursday's market close, posted quarterly profits that topped analyst expectations.
Greece on Thursday won vital pledges of support from bailout lenders needed to keep its economy from collapsing after Greek parliament approved the painful austerity measures demanded in return. The ECB announced it was increasing emergency credit to Greek banks, adding another 900 million euros ($980 million) in support over one week. And eurozone lenders pledged short-term loans so Greece can cover its debts and negotiations for a new three-year bailout worth 85 billion euros ($93 billion).
Among Asian bourses
Japan stocks gain for fifth day
Japanese share market advanced for fifth straight session on tracking excellent performance of the Wall Street overnight, coupled with calming fears over Greece's debt crisis and China's stock market rout. Sentiment also received a boost from the yen weakening against a basket of major currencies. The Nikkei Stock Average advanced 50.80 points, or 0.25%, to end at 20650.92 points. The broader Topix index rose 0.13%, or 2.11 points, to close at 1662.94 points, accumulating 5% gain this week.
Shares of Export-related companies were top gainers in the Tokyo market, thanks to yen slide 124 level against the greenback. The yen held at 124.05 per dollar after sliding 0.3% on Thursday. A weaker yen is positive for Japanese exporters as it makes products cheaper overseas and amplifies their profits when repatriated. Panasonic Corp added 0.2%, Canon Inc 1.4%, and Nissan Motor Co 0.3%.Nintendo Co added 1.4% and Alps Electric Co rallied 0.8%.Unicharm Corp advanced 1.7%on reports that the diaper-maker to post a 3% rise in six-month net profit.
Shares of semiconductor-related stocks, however, mostly declined, with Tokyo Electron, which manufactures chip-making equipment, falling 1.8% while chip tester maker Advantest fell 1.6%. Sharp lost 3.5% after reports that the firm could suffer an operating loss of about Y35 billion ($280 million) for the April-June quarter.
Tokio Marine Holdings Inc. gained 3% after the insurer announced plans to utilize its ties with Citic Group Corp., China's biggest conglomerate, to expand in that country.
Australia market ends flat
The Australian share market ended higher, but gains were marginal, as some investors cashed in profit following strong recent run. The benchmark S&P/ASX 200 Index added 0.5 point, or 0.01%, to 5670.10, while the broader All Ordinaries Index rose 2.70 points, or 0.05%, to 5652.50. The benchmark index rallied for last fourth sessions, accumulating 3.2% gain for the week.
Financial sector ended 0.2% down, as some of heavily weighted lenders gave back some of their strong gains earlier in the week, with Australia & New Zealand Banking Group falling 0.6% to A$32.44 and Westpac Banking Corp declining 0.2% to A$34.57. Whilst, National Australia Bank rose marginal 0.06% to A$34.34 and Commonwealth Bank of Australia edged up 0.02% to A$87.98.
Material sector was 0.1%, higher, on the back of gain bullion miners. Shares of gold miner Newcrest Mining rose 1.4% to A$13.20 and Perseus Mining jumped 2.3% to A$0.44. Regis Resources rallied 26% as it attracted buyers following a conference call to update institutional investors. Resource giant BHP Billiton was up 0.1% to A$27.10, while Rio Tinto lost 0.6% to A$53.01 after trimming its iron-ore output guidance. Fortescue Metals Group declined 2% to A$1.715 after the price of iron ore fell 0.2% Thursday to US$50 a metric tonne.
Santos fell 0.8% to A$7.66 after reporting a 19% drop in sales revenue to A$786 million for the second quarter due to a fall in oil prices from a year earlier. Output in the quarter was 12% ahead on the same period last year, at 14.3 million barrels of oil equivalent, and climbed 2% from the March quarter. The average price for oil sold in the quarter was A$82.59 a barrel, down 32% from a year earlier. Santos maintained all its guidance for the full year, including production of between 57 million and 64 million boe, and capital expenditure of A$2 billion.
Whitehaven Coal rallied 9% to A$1.27, basking in the glow of a Credit Suisse ratings upgrade to its shares, to outperform from neutral. Whitehaven Coal also said midweek that growing demand for high quality thermal coal in Asia should stop the price falling below the dismal current price of $US60 a tonne, but the miner expects metallurgical coal prices will take a hit in the current quarter.
China stocks rally on funds support
Mainland China's stock market ended higher, marking a second day of winning streak, on easing liquidity concerns after reports that China Securities Finance Corp., a state-backed agency that provides margin finance and liquidity to the market, has offered 2.5 trillion yuan to 3 trillion yuan liquidity support to brokerages and to purchase stocks and mutual funds.
Sentiment also received a boost after more companies resumed trading amid signs of revival. The benchmark Shanghai Composite Index advanced 134.18 points, or 3.51%, to finish at 3957.35 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 5%, or 103.90 points, to 2190.42 points. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, climbed 5.95% to end at 2783.32 points. The Shanghai Composite Index gained 2.1% for the week.
As per reports, total of 545 stocks were halted on mainland exchanges Friday, about 19% of all listings, down from more than 1,300 at the end of last week.
Caijing, a well-known Chinese financial magazine, also reported that 17 banks granted a credit line of 2 trillion yuan to China Securities Finance.
Shares of technology and phone makers jumped the most in SSE industry groups. GoerTek Inc rallied by the daily limit of 10%. ZTE Corp. surged 7%.
Property developer shares were also ended stronger, with Poly Real Estate Group Co. and Gemdale Corp. gained at least 3%, ahead of official new-home prices data on Saturday.
Hong Kong market extends rally
The Hong Kong stock market extended gains for second consecutive day, on tracking strong rally on the Wall Street overnight and Mainland China A-share markets today. Buying sentiment has also perked up as worries about a Greek exit from the euro have melted away. The Hang Seng Index rallied 252.49 points, or 1%, to finish at 25415.27 points, off an intra-day low of 25183.86. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, gained 101.06 points, or 0.86%, to 11850.14 points. Turnover increased slightly to HK$95.1 billion from HK$91.6 billion on Thursday.
Shares of Technology Company advanced after Google quarterly profits topped analyst expectations. Tencent (00700) put on 2.4% to HK$153.6. Founder Holdings (00418) added 3% to HK$0.67. Kingdee (00268) and Kingsoft (03888) gained 4% to HK$4.09 and HK$22.65 respectively.
Brokerage stocks were also advanced on reports that China Securities Finance Corp distributed its committed credit line of RMB260 billion to 21 securities firms. The firms could allocate the fund on their own discretion. CITIC Sec (06030) shot up 8.7% to HK$24.25. Haitong Sec (06837) rose 7% to HK$15.92. Haitong Int'l (00665) and China EB (00165) jumped 6.8% to HK$5.03 and HK$8.22.
Civil aviation stock advanced, led by China Eastern Airlines (00670), up 6.6% to HK$6.82, after the release of positive profit alert and bullish comments from research houses. UOB Kay Hian raised its target price for China Eastern Airlines to HK$7.6 from HK$6, and maintained its "buy" call. Other carriers were also higher, with China Southern Airlines (01055) up by 2% to HK$8.46, while Cathay Pacific (00293) put on 1.5% to HK$19.46.
Sensex registers small gain
Indian stock market ended slight higher in subdued trade today. As per provisional figures, the S&P BSE Sensex was up 28.09 points or 0.1% at 28,474.21and the Nifty was up 5.50 points or 0.06% at 8,613.55. For the week, the benchmark index added 802 points, or 2.9%.
Shares of private banks fell around 1% on profit taking after reports surfaced which suggested that the FII limit for the banks will be retained at 49%. Private sector banking stocks had run up yesterday after the cabinet simplified rules for foreign investment. Analysts had anticipated that the move will allow private sector banks to raise capital up to foreign ownership limit of 74%.
Foreign portfolio investors (FPIs) bought Indian shares worth a net Rs 745.81 crore yesterday, 16 July 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 98.51 crore yesterday, 16 July 2015, as per provisional data released by the stock exchanges.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index edged up 0.04% to 9046. South Korea's KOSPI fell 0.5% to 2076.79. New Zealand's NZX50 added 0.5% to 5853.76. Share market of Indonesia, Malaysia, and Singapore closed for public holiday.
