Asia Pacific share market advanced on Tuesday, 03 November 2015, as
investors risk sentiments boosted by tracking rally on the Wall Street
overnight and on hopes that US interest rates are not likely to rise as
quickly as previously thought. Meanwhile, sentiments also received boost
from the Australia's central bank decision to left the door open to
lower interest rates, underlining a trend for the region's policymakers
to keep stimulus taps open.
Overnight, US stocks closed in the green reflecting positive reaction to M&A activity and better than expected economic data. The Dow Jones rose 165.22 points, or 0.94%, the S&P 500 gained 24.69 points, or 1.19%, and the Nasdaq Composite added 73.40 points, or 1.45%.
The Reserve Bank of Australia on Tuesday held the cash rate at 2% for the sixth month in a row, but left the door open to another cut if growth and inflation fail to pick up in the next few months. Striking a slightly less fixed tone about current settings, RBA governor Glenn Stevens said in his statement that "the outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand". Central banks in China, Japan, Singapore and other Asian countries are also trying to support growth with accommodative monetary policy.
Among Asian bourses
Australian market rebounds 1.4%
The Australian share market record its first gain in seven sessions, as investors chased for bargain buying across the board on tracking rally on the Wall Street overnight and indication from the Reserve Bank of Australia to another cut if growth and inflation fail to pick up in the next few months. The benchmark S&P/ASX 200 index advanced 73.40 points, or 1.42%, to 5165.80 points, while the broader All Ordinaries index jumped 69.90 points, or 1.34%, to 5291.20 points.
China market ends softer
The Mainland China stock market settled mild softer after moving between gains and losses in thin trading, amid concerns over a cooling economy and a continuing crackdown on risky trading. Investors were also cautious ahead of more details on Beijing's 13th-five year plan, a blue-print of policy priorities of the Chinese Communist Party Central Committee. The Shanghai Composite Index declined 0.25%, or 8.39 points, to close at 3316.70 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 0.03%, or 0.50 point, to close at 1987.47. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, was down 0.11%, or 2.77 points, to close at 2429.27. Total volume of A shares traded in Shanghai was 19.2 billion shares, while Shenzhen volume was 22.4 billion shares.
Hong Kong market gains 0.9%
Hong Kong stock market advanced as risk sentiments buoyed by tracking rally on the Wall Street overnight. But gains were limited amid jitters surrounding a crackdown on illegal futures trading in Beijing and ongoing anti-corruption investigations into companies such as Dongfeng Motor Group. The benchmark Hang Seng Index advanced 198.39 points, or 0.89%, to 22568.43 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 43.09 points, or 0.42%, to 10283.42 points. Turnover reduced slightly to HK$64.6 billion from HK$67.4 billion on Monday.
Indian markets snaps 6-day losing streak
Indian stock market ended marginally higher after swinging between gains and losses, as concerns about earnings continued to weigh, although higher Asian shares supported sentiment. Sensex closed 31.44 points up at 26,590.59 and snapped its 6-day losing streak. Similarly, Nifty closed 9.90 points up 8,060.70.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 1.1% to 873.19. South Korea's KOPSI added 0.7% to 2048.40. Singapore's Straits Times index gained 0.9% at 2999.56. Indonesia's Jakarta Composite index rose 1.5% to 4533. Malaysia's KLCI gained 0.8% to 1677.56. New Zealand's NZX50 grew 0.6% to 6022. Japan market closed for the Culture Day holiday.
Overnight, US stocks closed in the green reflecting positive reaction to M&A activity and better than expected economic data. The Dow Jones rose 165.22 points, or 0.94%, the S&P 500 gained 24.69 points, or 1.19%, and the Nasdaq Composite added 73.40 points, or 1.45%.
The Reserve Bank of Australia on Tuesday held the cash rate at 2% for the sixth month in a row, but left the door open to another cut if growth and inflation fail to pick up in the next few months. Striking a slightly less fixed tone about current settings, RBA governor Glenn Stevens said in his statement that "the outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand". Central banks in China, Japan, Singapore and other Asian countries are also trying to support growth with accommodative monetary policy.
Among Asian bourses
Australian market rebounds 1.4%
The Australian share market record its first gain in seven sessions, as investors chased for bargain buying across the board on tracking rally on the Wall Street overnight and indication from the Reserve Bank of Australia to another cut if growth and inflation fail to pick up in the next few months. The benchmark S&P/ASX 200 index advanced 73.40 points, or 1.42%, to 5165.80 points, while the broader All Ordinaries index jumped 69.90 points, or 1.34%, to 5291.20 points.
China market ends softer
The Mainland China stock market settled mild softer after moving between gains and losses in thin trading, amid concerns over a cooling economy and a continuing crackdown on risky trading. Investors were also cautious ahead of more details on Beijing's 13th-five year plan, a blue-print of policy priorities of the Chinese Communist Party Central Committee. The Shanghai Composite Index declined 0.25%, or 8.39 points, to close at 3316.70 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 0.03%, or 0.50 point, to close at 1987.47. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, was down 0.11%, or 2.77 points, to close at 2429.27. Total volume of A shares traded in Shanghai was 19.2 billion shares, while Shenzhen volume was 22.4 billion shares.
Hong Kong market gains 0.9%
Hong Kong stock market advanced as risk sentiments buoyed by tracking rally on the Wall Street overnight. But gains were limited amid jitters surrounding a crackdown on illegal futures trading in Beijing and ongoing anti-corruption investigations into companies such as Dongfeng Motor Group. The benchmark Hang Seng Index advanced 198.39 points, or 0.89%, to 22568.43 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 43.09 points, or 0.42%, to 10283.42 points. Turnover reduced slightly to HK$64.6 billion from HK$67.4 billion on Monday.
Indian markets snaps 6-day losing streak
Indian stock market ended marginally higher after swinging between gains and losses, as concerns about earnings continued to weigh, although higher Asian shares supported sentiment. Sensex closed 31.44 points up at 26,590.59 and snapped its 6-day losing streak. Similarly, Nifty closed 9.90 points up 8,060.70.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 1.1% to 873.19. South Korea's KOPSI added 0.7% to 2048.40. Singapore's Straits Times index gained 0.9% at 2999.56. Indonesia's Jakarta Composite index rose 1.5% to 4533. Malaysia's KLCI gained 0.8% to 1677.56. New Zealand's NZX50 grew 0.6% to 6022. Japan market closed for the Culture Day holiday.
