Asia Pacific shares were mostly higher on Monday, 19 October 2015, on
the back of an upbeat lead from Wall Street Friday and after latest data
showed China's gross domestic product (GDP) grew at the slowest
quarterly pace since 2009, but no signs of a hard landing which has been
feared.
Chinese gross domestic product rose 6.9% in the three months through September from a year earlier, the National Bureau of Statistics said Monday, slightly better than expected 6.8% growth. Still, that was the slowest quarterly expansion since the first three months of 2009, reinforcing views that Chinese government efforts to stimulate the economy were working.
Though, a string of monthly indicators released alongside the GDP data hinted at lingering weakness in the economy. Industrial production raised 5.7% on-year in September, missing expectations for a rise of 6.0% and coming in below August's 6.1% gain. Fixed-asset investment (FAI) - seen as a crucial driver of China's economy - came in at 10.3% in the first nine months of 2015, also below estimates for 10.8% growth. Retail sales were the exception, with annual growth of 10.9% in September, slightly above prediction of 10.8%.
Among Asian bourses
Australian market ends flat
The Australian share market ended virtually flat after drifting in and out of positive territory, as gains in the banks and financial stocks were offset by losses in materials. The benchmark S&P/ASX 200 index grew 1.50 points, or 0.03%, to 5269.70 points, while the broader All Ordinaries index added 0.90 point, or 0.02%, to 5304.60 points.
Nikkei falls on profit taking
The Japanese share market ended weaker, as investors moved to lock in recent gains after yen strength against greenback and concerns about slower Chinese economic growth after data showed China recorded its slowest pace of growth since 2009 in the third quarter. Total 26 out of 33 TSE first-section sector sub-indexes ended down, with Rubber Products, Nonferrous Metals, Iron & Steel, Wholesale Trade, Mining, Electric Appliances, Rubber Products and Banks issues being major gainers. The Nikkei Stock Average declined 160.57 points, or 0.88%, to end at 18131.23 points, meanwhile the broader Topix index shrank 0.74%, or 11.09 points, to 1494.75 at the close.
China market eases from 8-week high
The Mainland China stocks ended mixed in volatile trade, as data showed China's economy grew at the slowest quarterly pace since 2009, but no signs of a hard landing which has been feared by some investors. Investors also drew some comfort from comments by Chinese President Xi Jinping, who told that China's economic slowdown was a "normal" part of structural adjustments. The Shanghai Composite Index declined 0.14%, or 4.65 points, to close at 3386.70 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, grew 0.14%, or 2.68 points, to 1969.64. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, de-grew 0.63%, or 15.43 points, to close at 2433.60.
Hong Kong stocks end up
Hong Kong stock market ended marginally higher after recouping intraday losses late afternoon, as traders speculated the Chinese government will accelerate reforms of state-owned companies and loosen monetary policy to bolster the economic growth after data showed world second largest economy recorded its slowest pace of growth since 2009 in the third quarter. The Hang Seng Index advanced 8.24 points, or 0.04%, to 23075.61 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, gained 51.53 points, or 0.48%, to 10688.54 points. Turnover reduced to HK$67.25 billion from HK$88 billion on Friday.
Indian indices clock modest gains
Post result rally for index heavyweight Reliance Industries (RIL) and gains for another index heavyweight Infosys and pharma stocks helped key benchmark indices register modest gains. The barometer index, the S&P BSE Sensex, rose 141.54 points or 0.52% to 27,356.14, as per the provisional closing data. The 50-unit CNX Nifty rose 36.90 points or 0.45% at 8,275.05, as per the provisional closing data. The trigger for the latest upmove for Indian stocks was an announcement from the finance ministry that it is seeking the views of foreign portfolio investors (FPIs) on measures to simplify the procedures and documentation for registration of FPIs in India.
The Department of Economic Affairs, Ministry of Finance announced that it has organized a meeting with the representatives of the foreign portfolio investors (FPIs) tomorrow, 20 October 2015, to seek their views on measures to simplify the procedures and documentation for registration of FPIs in India and deepening of corporate bond market. Separately, the Department of Economic Affairs will hold a meeting with domestic financial market participants on 21 October 2015 to seek their views on integration of various segments of the market, increasing retail participation and deepening of corporate bond market.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index was up 0.3% to 8631.50. South Korea's KOPSI ended steady at 2030.27. New Zealand's NZX50 climbed up 0.3% to 5834.83. Singapore's Straits Times index fell 0.2% at 3024.50. Indonesia's Jakarta Composite index was up 1.1% to 4569.84. Malaysia's KLCI rose 0.1% to 1718.20.
Chinese gross domestic product rose 6.9% in the three months through September from a year earlier, the National Bureau of Statistics said Monday, slightly better than expected 6.8% growth. Still, that was the slowest quarterly expansion since the first three months of 2009, reinforcing views that Chinese government efforts to stimulate the economy were working.
Though, a string of monthly indicators released alongside the GDP data hinted at lingering weakness in the economy. Industrial production raised 5.7% on-year in September, missing expectations for a rise of 6.0% and coming in below August's 6.1% gain. Fixed-asset investment (FAI) - seen as a crucial driver of China's economy - came in at 10.3% in the first nine months of 2015, also below estimates for 10.8% growth. Retail sales were the exception, with annual growth of 10.9% in September, slightly above prediction of 10.8%.
Among Asian bourses
Australian market ends flat
The Australian share market ended virtually flat after drifting in and out of positive territory, as gains in the banks and financial stocks were offset by losses in materials. The benchmark S&P/ASX 200 index grew 1.50 points, or 0.03%, to 5269.70 points, while the broader All Ordinaries index added 0.90 point, or 0.02%, to 5304.60 points.
Nikkei falls on profit taking
The Japanese share market ended weaker, as investors moved to lock in recent gains after yen strength against greenback and concerns about slower Chinese economic growth after data showed China recorded its slowest pace of growth since 2009 in the third quarter. Total 26 out of 33 TSE first-section sector sub-indexes ended down, with Rubber Products, Nonferrous Metals, Iron & Steel, Wholesale Trade, Mining, Electric Appliances, Rubber Products and Banks issues being major gainers. The Nikkei Stock Average declined 160.57 points, or 0.88%, to end at 18131.23 points, meanwhile the broader Topix index shrank 0.74%, or 11.09 points, to 1494.75 at the close.
China market eases from 8-week high
The Mainland China stocks ended mixed in volatile trade, as data showed China's economy grew at the slowest quarterly pace since 2009, but no signs of a hard landing which has been feared by some investors. Investors also drew some comfort from comments by Chinese President Xi Jinping, who told that China's economic slowdown was a "normal" part of structural adjustments. The Shanghai Composite Index declined 0.14%, or 4.65 points, to close at 3386.70 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, grew 0.14%, or 2.68 points, to 1969.64. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, de-grew 0.63%, or 15.43 points, to close at 2433.60.
Hong Kong stocks end up
Hong Kong stock market ended marginally higher after recouping intraday losses late afternoon, as traders speculated the Chinese government will accelerate reforms of state-owned companies and loosen monetary policy to bolster the economic growth after data showed world second largest economy recorded its slowest pace of growth since 2009 in the third quarter. The Hang Seng Index advanced 8.24 points, or 0.04%, to 23075.61 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, gained 51.53 points, or 0.48%, to 10688.54 points. Turnover reduced to HK$67.25 billion from HK$88 billion on Friday.
Indian indices clock modest gains
Post result rally for index heavyweight Reliance Industries (RIL) and gains for another index heavyweight Infosys and pharma stocks helped key benchmark indices register modest gains. The barometer index, the S&P BSE Sensex, rose 141.54 points or 0.52% to 27,356.14, as per the provisional closing data. The 50-unit CNX Nifty rose 36.90 points or 0.45% at 8,275.05, as per the provisional closing data. The trigger for the latest upmove for Indian stocks was an announcement from the finance ministry that it is seeking the views of foreign portfolio investors (FPIs) on measures to simplify the procedures and documentation for registration of FPIs in India.
The Department of Economic Affairs, Ministry of Finance announced that it has organized a meeting with the representatives of the foreign portfolio investors (FPIs) tomorrow, 20 October 2015, to seek their views on measures to simplify the procedures and documentation for registration of FPIs in India and deepening of corporate bond market. Separately, the Department of Economic Affairs will hold a meeting with domestic financial market participants on 21 October 2015 to seek their views on integration of various segments of the market, increasing retail participation and deepening of corporate bond market.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index was up 0.3% to 8631.50. South Korea's KOPSI ended steady at 2030.27. New Zealand's NZX50 climbed up 0.3% to 5834.83. Singapore's Straits Times index fell 0.2% at 3024.50. Indonesia's Jakarta Composite index was up 1.1% to 4569.84. Malaysia's KLCI rose 0.1% to 1718.20.
