Asia Pacific share market ended higher on Wednesday, 16 September 2015,
as risk sentiment boosted by gains in European and U.S. stocks
overnight. But markets gains were limited as many investors remained
reluctant to take uneven positions ahead of the Federal Reserve
policy-setting meeting.
The U.S. Federal Reserve will start its two-day policy meeting later in the day. The US Federal Reserve will decide on Thursday whether to lift interest rates which have been close to zero for the last seven years.
Investors around the world are guessing that the Federal Open Market Committee (FOMC) will signal an initial a measured tightening soon, but hold off a September rate hike. Speculation in recent months about when the Fed will lift interest rates has caused uncertainty among stock markets around the world.
Among Asian bourses
Australian market rallies ahead of Fed
The Australian share market recouped all losses of the previous day session, on broad-based gains across all sectors with the major banks, financials and the big miners leading the way on expectations for a delay in the Fed's policy tightening timeline. The benchmark S&P/ASX 200 index rose 80.50 points, or 1.6%, to 5098.90 points. The broader All Ordinaries index ended up 77 points, or 1.53%, at 5123.60.
Japan stocks up on upbeat offshore lead
The Japanese share market advanced, as risk sentiment boosted by gains in European and U.S. stocks overnight and a weakened yen against the U.S. dollar. Total 18 out of Topix's 33 industry groups ended higher, with Rubber Products, Air Transportation, Transportation Equipment, and Machinery issues led gainers. The Nikkei Stock Average advanced 145.12 points, or 0.81%, to end at 18171.60 points. The broader Topix index jumped 0.71%, or 10.36 points, to 1472.60 at the close in Tokyo.
China market rallies 4.9% on speculation of state-led buying
The Mainland China's stock market posted a strong gain, as investors chased for bottom fishing across the board late afternoon on tracking overnight rally on Wall Street overnight and speculation of intervention from Beijing. The Shanghai Composite Index rebounded 4.89%, or 147.09 points, to 3152.26 points, halting a two-day, 6.1% loss. The Shenzhen Composite Index, which tracks stocks on China's second exchange, jumped 6.52%, or 103.10 points, to 1683.56. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, jumped 7.6%, or 128.69 points, to close at 1926.24.
Hong Kong market up ahead of US Fed decision
Hong Kong stock market ended higher, as investor optimism mounted ahead of a highly anticipated Federal Reserve policy meeting. The Hang Seng Index added 511.43 points, or 2.38%, at 21966.66 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 200.44 points, or 2.07%, to 9904.71 points. Turnover increased to HK$83.3 billion from HK$63.7 billion on Tuesday.
Sensex, Nifty reaches highest closing level in more than 2 weeks
Positive lead from global markets aided decent gains for key equity benchmark indices. The barometer index, the S&P Sensex, rose 258.04 points or 1% to settle at 25,963.97. The gains for the Sensex were higher in percentage terms than those for the 50-unit CNX Nifty index. The Nifty gained 70.05 points or 0.89% to settle at 7,899.15. The Sensex and the Nifty, both, attained their highest closing level in more than two weeks.
Higher crude oil prices along with a weakness in rupee will increase under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. A weak rupee will increase cost of crude oil imports. The government has already freed pricing of petrol and diesel.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index added 0.9% to 8333.29. South Korea's KOPSI rose 2% to 1975.45. New Zealand's NZX50 rose 0.3% to 5668. Singapore's Straits Times index gained 0.9% at 2868.74. Indonesia's Jakarta Composite index dropped 0.3% to 4332.51.
The U.S. Federal Reserve will start its two-day policy meeting later in the day. The US Federal Reserve will decide on Thursday whether to lift interest rates which have been close to zero for the last seven years.
Investors around the world are guessing that the Federal Open Market Committee (FOMC) will signal an initial a measured tightening soon, but hold off a September rate hike. Speculation in recent months about when the Fed will lift interest rates has caused uncertainty among stock markets around the world.
Among Asian bourses
Australian market rallies ahead of Fed
The Australian share market recouped all losses of the previous day session, on broad-based gains across all sectors with the major banks, financials and the big miners leading the way on expectations for a delay in the Fed's policy tightening timeline. The benchmark S&P/ASX 200 index rose 80.50 points, or 1.6%, to 5098.90 points. The broader All Ordinaries index ended up 77 points, or 1.53%, at 5123.60.
Japan stocks up on upbeat offshore lead
The Japanese share market advanced, as risk sentiment boosted by gains in European and U.S. stocks overnight and a weakened yen against the U.S. dollar. Total 18 out of Topix's 33 industry groups ended higher, with Rubber Products, Air Transportation, Transportation Equipment, and Machinery issues led gainers. The Nikkei Stock Average advanced 145.12 points, or 0.81%, to end at 18171.60 points. The broader Topix index jumped 0.71%, or 10.36 points, to 1472.60 at the close in Tokyo.
China market rallies 4.9% on speculation of state-led buying
The Mainland China's stock market posted a strong gain, as investors chased for bottom fishing across the board late afternoon on tracking overnight rally on Wall Street overnight and speculation of intervention from Beijing. The Shanghai Composite Index rebounded 4.89%, or 147.09 points, to 3152.26 points, halting a two-day, 6.1% loss. The Shenzhen Composite Index, which tracks stocks on China's second exchange, jumped 6.52%, or 103.10 points, to 1683.56. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, jumped 7.6%, or 128.69 points, to close at 1926.24.
Hong Kong market up ahead of US Fed decision
Hong Kong stock market ended higher, as investor optimism mounted ahead of a highly anticipated Federal Reserve policy meeting. The Hang Seng Index added 511.43 points, or 2.38%, at 21966.66 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 200.44 points, or 2.07%, to 9904.71 points. Turnover increased to HK$83.3 billion from HK$63.7 billion on Tuesday.
Sensex, Nifty reaches highest closing level in more than 2 weeks
Positive lead from global markets aided decent gains for key equity benchmark indices. The barometer index, the S&P Sensex, rose 258.04 points or 1% to settle at 25,963.97. The gains for the Sensex were higher in percentage terms than those for the 50-unit CNX Nifty index. The Nifty gained 70.05 points or 0.89% to settle at 7,899.15. The Sensex and the Nifty, both, attained their highest closing level in more than two weeks.
Higher crude oil prices along with a weakness in rupee will increase under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. A weak rupee will increase cost of crude oil imports. The government has already freed pricing of petrol and diesel.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index added 0.9% to 8333.29. South Korea's KOPSI rose 2% to 1975.45. New Zealand's NZX50 rose 0.3% to 5668. Singapore's Straits Times index gained 0.9% at 2868.74. Indonesia's Jakarta Composite index dropped 0.3% to 4332.51.
