Asia Pacific shares were mostly advanced on Monday, 12 October 2015, as
risk sentiments boosted up by tracking rally in the US equity markets on
last Friday and as the China's fresh steps to inject liquidity into the
struggling economy. MSCI's broadest index of Asia-Pacific shares
outside Japan was up 0.8%.
Buying sentiments also bolstered on increasing possibilities that the U.S. Federal Reserve wouldn't raise interest rates later this year. Fed vice chair Stanley Fischer said over the week end that its "an expectation" that Fed will hike interest rate this year, "not a commitment". He emphasized that "both the timing of the first rate increase and any subsequent adjustments to the federal funds rate target will depend critically on future developments in the economy". And, there are still "considerable uncertainties" around the economic outlook, including recent drop in job growth. Nonetheless, he talked down the impact of the international developments including China as "we do not currently anticipate that the effects of these recent developments on the US economy will prove to be large enough to have a significant effect on the path for policy."
Turnover across the region was relatively lower than their daily average ahead of Chinese export data due Tuesday and speeches from Fed officials. Investors were also concerned about the threat of slowing global growth even though central banks have pumped billions of dollars into their economies.
Among Asian bourses
Australian market falls on profit taking
The Australian share market finished softer on first trading session of the week, as investors opted for withdrawing profit off the table after 4.5% gain in the previous week. Most of the ASX industry blue-chip stocks declined, with energy producers were the worst performers amid profit booking following the sector's double-digit gains last week. The benchmark S&P/ASX 200 index lost 46.80 points, or 0.9%, to 5232.90 points, while the broader All Ordinaries index sank 41.80 points, or 0.8%, to 5267.40 points.
China market soars
The Mainland China's stock market soared after central bank announcement of stimulus measures and reports of reform in the telecommunications sector. Meanwhile, buying momentum also underpinned on possibility of further stimulus measures when Beijing meets later this month to discuss the 13th five-year plan. All 10 SSE sectors added strength to the key index, with telecommunication, energy, material, and industrial stocks leading rally. The Shanghai Composite Index advanced grew 3.3%, or 104.51 points, to close at 3287.66 points.
Hong Kong market extends gain
Hong Kong stock market advanced in tandem with the rally in the US equity markets on last Friday and strong showing of the Mainland A-share market today. The benchmark index opened 155 points higher and saw its gains widen to as much as 321 points after the Shanghai market jumped more than 100 points. The Hang Seng Index advanced 272.13 points, or 1.21%, to 22730.93 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, soared 131.40 points, or 1.26%, to 10538.19 points. Turnover reduced to HK$87.2 billion from HK$93.5 billion on Friday.
Indian market closes down
IT major and index heavyweight Infosys led losses for key benchmark indices, with the stock sliding after the company cut full year revenue growth guidance in dollar terms. The barometer index, the S&P BSE Sensex, fell 167.35 points or 0.62% at 26,912.16, as per the provisional closing data. The 50-unit CNX Nifty dropped 46.10 points or 0.56% at 8,143.60, as per the provisional closing data. The Sensex and the Nifty reversed direction after both these key benchmark indices struck their highest level in more than 7 weeks at the onset of the trading session.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 1.5% to 8573.72. South Korea's KOPSI added 0.1% to 2021.63. New Zealand's NZX50 climbed up 0.9% to 5689.83. Singapore's Straits Times index added 1.1% at 3032.11. Indonesia's Jakarta Composite index grew 0.9% to 4630.71. Malaysia's KLCI fell 0.2% to 1703.71.
Buying sentiments also bolstered on increasing possibilities that the U.S. Federal Reserve wouldn't raise interest rates later this year. Fed vice chair Stanley Fischer said over the week end that its "an expectation" that Fed will hike interest rate this year, "not a commitment". He emphasized that "both the timing of the first rate increase and any subsequent adjustments to the federal funds rate target will depend critically on future developments in the economy". And, there are still "considerable uncertainties" around the economic outlook, including recent drop in job growth. Nonetheless, he talked down the impact of the international developments including China as "we do not currently anticipate that the effects of these recent developments on the US economy will prove to be large enough to have a significant effect on the path for policy."
Turnover across the region was relatively lower than their daily average ahead of Chinese export data due Tuesday and speeches from Fed officials. Investors were also concerned about the threat of slowing global growth even though central banks have pumped billions of dollars into their economies.
Among Asian bourses
Australian market falls on profit taking
The Australian share market finished softer on first trading session of the week, as investors opted for withdrawing profit off the table after 4.5% gain in the previous week. Most of the ASX industry blue-chip stocks declined, with energy producers were the worst performers amid profit booking following the sector's double-digit gains last week. The benchmark S&P/ASX 200 index lost 46.80 points, or 0.9%, to 5232.90 points, while the broader All Ordinaries index sank 41.80 points, or 0.8%, to 5267.40 points.
China market soars
The Mainland China's stock market soared after central bank announcement of stimulus measures and reports of reform in the telecommunications sector. Meanwhile, buying momentum also underpinned on possibility of further stimulus measures when Beijing meets later this month to discuss the 13th five-year plan. All 10 SSE sectors added strength to the key index, with telecommunication, energy, material, and industrial stocks leading rally. The Shanghai Composite Index advanced grew 3.3%, or 104.51 points, to close at 3287.66 points.
Hong Kong market extends gain
Hong Kong stock market advanced in tandem with the rally in the US equity markets on last Friday and strong showing of the Mainland A-share market today. The benchmark index opened 155 points higher and saw its gains widen to as much as 321 points after the Shanghai market jumped more than 100 points. The Hang Seng Index advanced 272.13 points, or 1.21%, to 22730.93 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, soared 131.40 points, or 1.26%, to 10538.19 points. Turnover reduced to HK$87.2 billion from HK$93.5 billion on Friday.
Indian market closes down
IT major and index heavyweight Infosys led losses for key benchmark indices, with the stock sliding after the company cut full year revenue growth guidance in dollar terms. The barometer index, the S&P BSE Sensex, fell 167.35 points or 0.62% at 26,912.16, as per the provisional closing data. The 50-unit CNX Nifty dropped 46.10 points or 0.56% at 8,143.60, as per the provisional closing data. The Sensex and the Nifty reversed direction after both these key benchmark indices struck their highest level in more than 7 weeks at the onset of the trading session.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 1.5% to 8573.72. South Korea's KOPSI added 0.1% to 2021.63. New Zealand's NZX50 climbed up 0.9% to 5689.83. Singapore's Straits Times index added 1.1% at 3032.11. Indonesia's Jakarta Composite index grew 0.9% to 4630.71. Malaysia's KLCI fell 0.2% to 1703.71.
