Headline equities of the Asia Pacific market closed mostly higher in
light trading on Thursday, 24 December 2015, as investor interest in
blue-chips boosted up after an oil-linked surge on US and European
bourses overnight. The MSCI Asia Pacific Index climbed 0.2% to 131.31.
Investors' sentiment remained firm after stabilization in commodity prices as crude climbed to a two-week high and industrial metals gained on optimism that the Chinese and American economies will spark demand for resources.
U.S. crude futures added 0.6% at $37.71 a barrel while Brent crude futures rose 0.6% to $37.58 in Asian trade on Thursday. Crude prices surged more than 3.5% Wednesday after a report showed US inventories unexpectedly fell in the week to Friday, a day after Brent had touched its lowest level since July 2004, leading to hopes a year-long slump may have bottomed out.
Base Metal prices closed higher on greater optimism about demand in China and as Chinese funds bet on higher prices along with the gains in the Oil prices.
Among Asian bourses
Australian Market surges to 3-week high
Australian share market advanced in a shortened Christmas Eve session, following supportive global cues. Investors' sentiment remained firm after stabilization in commodity prices as crude climbed to a two-week high and industrial metals gained on optimism that the Chinese and American economies will spark demand for resources. All ASX industry groups, barring industrial, advanced, with shares of material, energy, and financial sectors being major gainers. At the close, the benchmark S&P/ASX 200 index ended 65.80 points, or 1.28%, up at 5207.60 points, a highest level since 3 December 2015 when it closed at 5227.70, while the broader All Ordinaries index grew 63.60 points, or 1.21%, to 5256.10 points. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, declined 3.6% at 15.44, suggesting 4.4% swing in the equity benchmark index in the next 30 days.
Japan stocks down on profit booking
Japan share market closed down due to profit booking after being closed on Wednesday for the Emperor's birthday. Tokyo market opened higher, but equity gauges failed to hold momentum as investors' sentiment turned cautious after Japanese Prime Minister Shinzo Abe's cabinet approved on Thursday a record fiscal 2016 budget that counts on higher growth and tax revenue to achieve Abe's aim of reviving the economy and reining in public debt. Minutes of the Bank of Japan's November rate review released earlier in the session showed that many policymakers complained of slow wage and capital expenditure growth, but were optimistic that companies will start to boost spending once emerging economies improve. The 225-issue Nikkei Stock Average declined 97.01 points, or 0.51%, to 18789.69. The Topix index of all Tokyo Stock Exchange First Section issues sank 9.98 points, or 0.65%, to 1523.62.
China Market falls 0.65%
The Mainland China stock market declined, due to resumption of profit booking amid speculation recent gains were overdone, and concern about fund diversion toward initial public offerings from existing equities. Total 9 out of 10 SSE industry groups declined, with shares of industrial, consumer staple, and healthcare issues being major losers. The Shanghai Composite Index decreased 0.65%, or 23.60 points, to close at 3612.49. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 0.2%, or 4.69 points, to close at 2346.37. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.43%, or 11.84 points, to close at 2795.78.
Hong Kong Market rises in shortened session
The Hong Kong stock market ended higher in the holiday-shortened session, as investor sentiment was boosted by rally in U.S. equities overnight amid a reprieve in the recent plunge of oil prices. The benchmark index opened up 167 points at 22,207 and gradually pared its gains as the Shanghai market softened and failed the 3,600 level. The benchmark Hang Seng Index advanced 97.54 points, or 0.44%, to 22138.13 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, added 70.26 points, or 0.71%, to 9953.21 points. The HSI Volatility Index (VHSI), which measures the cost of options on the Hong Kong equity gauge, fell 4.5% to 18.33points, suggesting 5.3% swing in the equity benchmark index in the next 30 days. Hong Kong markets closed at midday, and will be closed on Friday for Christmas.
Indian indices trade near the flat line
Indian benchmark indices were hovering near the flat line in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was off 3.19 points or 0.01% at 25,847.11. The 50-unit Nifty 50 index was currently off 5.75 points or 0.07% at 7,860.20.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 0.1% to 8324.36. South Korea's KOPSI fell 0.4% to 1990.65. New Zealand's NZX50 added 0.5% to 6225.53. Singapore's Straits Times index rose 0.5% at 2877.62. Indonesia and Malaysia market closed for public holiday.
Investors' sentiment remained firm after stabilization in commodity prices as crude climbed to a two-week high and industrial metals gained on optimism that the Chinese and American economies will spark demand for resources.
U.S. crude futures added 0.6% at $37.71 a barrel while Brent crude futures rose 0.6% to $37.58 in Asian trade on Thursday. Crude prices surged more than 3.5% Wednesday after a report showed US inventories unexpectedly fell in the week to Friday, a day after Brent had touched its lowest level since July 2004, leading to hopes a year-long slump may have bottomed out.
Base Metal prices closed higher on greater optimism about demand in China and as Chinese funds bet on higher prices along with the gains in the Oil prices.
Among Asian bourses
Australian Market surges to 3-week high
Australian share market advanced in a shortened Christmas Eve session, following supportive global cues. Investors' sentiment remained firm after stabilization in commodity prices as crude climbed to a two-week high and industrial metals gained on optimism that the Chinese and American economies will spark demand for resources. All ASX industry groups, barring industrial, advanced, with shares of material, energy, and financial sectors being major gainers. At the close, the benchmark S&P/ASX 200 index ended 65.80 points, or 1.28%, up at 5207.60 points, a highest level since 3 December 2015 when it closed at 5227.70, while the broader All Ordinaries index grew 63.60 points, or 1.21%, to 5256.10 points. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, declined 3.6% at 15.44, suggesting 4.4% swing in the equity benchmark index in the next 30 days.
Japan stocks down on profit booking
Japan share market closed down due to profit booking after being closed on Wednesday for the Emperor's birthday. Tokyo market opened higher, but equity gauges failed to hold momentum as investors' sentiment turned cautious after Japanese Prime Minister Shinzo Abe's cabinet approved on Thursday a record fiscal 2016 budget that counts on higher growth and tax revenue to achieve Abe's aim of reviving the economy and reining in public debt. Minutes of the Bank of Japan's November rate review released earlier in the session showed that many policymakers complained of slow wage and capital expenditure growth, but were optimistic that companies will start to boost spending once emerging economies improve. The 225-issue Nikkei Stock Average declined 97.01 points, or 0.51%, to 18789.69. The Topix index of all Tokyo Stock Exchange First Section issues sank 9.98 points, or 0.65%, to 1523.62.
China Market falls 0.65%
The Mainland China stock market declined, due to resumption of profit booking amid speculation recent gains were overdone, and concern about fund diversion toward initial public offerings from existing equities. Total 9 out of 10 SSE industry groups declined, with shares of industrial, consumer staple, and healthcare issues being major losers. The Shanghai Composite Index decreased 0.65%, or 23.60 points, to close at 3612.49. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 0.2%, or 4.69 points, to close at 2346.37. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.43%, or 11.84 points, to close at 2795.78.
Hong Kong Market rises in shortened session
The Hong Kong stock market ended higher in the holiday-shortened session, as investor sentiment was boosted by rally in U.S. equities overnight amid a reprieve in the recent plunge of oil prices. The benchmark index opened up 167 points at 22,207 and gradually pared its gains as the Shanghai market softened and failed the 3,600 level. The benchmark Hang Seng Index advanced 97.54 points, or 0.44%, to 22138.13 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, added 70.26 points, or 0.71%, to 9953.21 points. The HSI Volatility Index (VHSI), which measures the cost of options on the Hong Kong equity gauge, fell 4.5% to 18.33points, suggesting 5.3% swing in the equity benchmark index in the next 30 days. Hong Kong markets closed at midday, and will be closed on Friday for Christmas.
Indian indices trade near the flat line
Indian benchmark indices were hovering near the flat line in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was off 3.19 points or 0.01% at 25,847.11. The 50-unit Nifty 50 index was currently off 5.75 points or 0.07% at 7,860.20.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 0.1% to 8324.36. South Korea's KOPSI fell 0.4% to 1990.65. New Zealand's NZX50 added 0.5% to 6225.53. Singapore's Straits Times index rose 0.5% at 2877.62. Indonesia and Malaysia market closed for public holiday.
