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AsianBondsOnline Newsletter (2 December 2014)

02-Dec-2014 Intellasia | AsianBondsOnline | 2:05 PM

News Highlights – Week of 24 – 28 November 2014 Emerging East Asia’s local currency (LCY) bond markets are resilient but a sooner-than-expected US interest [...]
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Asian markets mostly down, oil prices sink further

02-Dec-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 7:51 AM

Asian markets mostly fell Monday December 01 after China released data pointing to further weakness in its manufacturing sector, but Tokyo hit a seven-year high as the yen [...]
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Asia factories find demand lacking, in further blow to commodities

02-Dec-2014 Intellasia | Reuters | 6:00 AM

Asia’s factories appeared to have stepped down a gear last month as a glut of supply met a dearth of global demand, piling pressure on prices of manufactured goods and [...]
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Asian markets mixed, oil prices sink further

02-Dec-2014 Intellasia | AFP | 6:00 AM

Asian markets were mixed Monday after China released data pointing to further weakness in the country’s manufacturing sector, while Tokyo hit a seven-year high as the [...]
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SE Asia Stocks-Most down; weak oil prices hit energy shares

29-Nov-2014 Intellasia | Southeast Asian stock markets mostly drifted lower on Friday November 28 as a sharp fall in global oil prices dealt a blow to energy shares, but prospects of lower fuel costs lifted shares of airline companies. Energy stocks such as PTT and PTT Exploration and Production led the losers on the Thai stock market while rig builder Sembcorp Marine and palm plantation firm Astra Agro Lestari were among underperformers in the region. Brent crude held above $72 a barrel on Friday after hitting a new four year low earlier in the day after OPEC decided not to cut oil output to support prices. The oil market will remain oversupplied in 2015 with the growth of non-OPEC supply and OPEC natural gas liquids far outpacing global oil demand growth, Bangkok-based broker KT Zmico said in a report. Earnings growth for energy firms, especially of downstream and upstream operators, become less appealing when oil prices decline, it said. "The weak oil price is also a threat to upstream operator PTTEP, with 30 percent of its sales volume linked to liquid. Thus, its earnings growth will be diluted despite the larger sales volume," the broker said. Bangkok's SET Index edged down 0.3 percent, heading off a monthly gain of 0.9 percent. Jakarta's composite index eased 0.1 percent, but on track for a modest rise of 0.8 percent on the month. Other Southeast Asian stocks are set to post mixed performance in November, with Singapore poised to be an outperformer, up 2.6 percent, while worst performer Vietnam is set to fall 5.3 percent on the month. Airline stocks were among bright spots in the region thanks to expectations of a fall in fuel costs. Thai budget carrier Nok Airlines shot up 9 percent, Singapore Airlines jumped 2.7 percent and Malaysia's AirAsia surged 7 percent. AMERICA: A sharp drop in crude prices tugged down shares in oil and gas companies on Friday, leading the Standard & Poor's 500 index to a slight loss in a short trading session. The index, a benchmark for many investments, still closed out November with its third-best month this year. "Crude is the big story today," said JJ Kinahan, TD Ameritrade's chief strategist. "There are very clear winners and losers. The Chevrons and Exxons of the world are getting hammered; then on the other side you have the shipping companies — UPS and FedEx — along with the airlines. For them, it's a beautiful story." The S&P 500 index lost 5.27 points, or 0.3 percent, to close at 2,067.56. As a group, energy companies lost 6 percent, the worst drop of the 10 sectors in the S&P 500 by far. The Dow Jones industrial average inched up 0.49 of a point, a sliver of a percent, to eke out another record high, 17,828.24. The Nasdaq composite picked up 4.31 points, less than 0.1 percent, to 4,791.63. Regular U.S. trading closed at 1 p.m. Eastern time on Friday and the market was shut Thursday for the Thanksgiving holiday. Rising corporate profits and a steadily improving U.S. economy have helped push the stock market to record highs this month. The S&P 500 gained 2.5 percent in November. But it was a quiet climb, a combination of many small steps. There wasn't a single day in November that the index rose more than 1 percent. The main news driving trading was a decision made Thursday by the OPEC oil cartel to keep production at 30 million barrels a day. That announcement hit oil prices hard as traders expect the global supply of oil to stay high. Crude oil slumped $7.54, or 10 percent, to settle at $66.15. The recent slide for oil prices has had a double-edged effect on the market. It has given a boost to airlines, shippers, retailers and cruise lines, which benefit from both falling costs and customers having more money in their pockets to spend. But it has battered drillers, producers and other companies that provide services to the oil and gas industry. It was the same story Friday. United Parcel Service gained 3 percent, and FedEx added 2 percent. Around the world, the slide in crude prices pulled oil and gas companies down. Newfield Exploration lost 16 percent and QEP Resources 15 percent, the two steepest drops by any company in the S&P 500 index. In Asia, China's state-owned oil giant CNOOC, the country's biggest crude producer, plunged. In Europe, shares in Royal Dutch Shell, Total and other energy giants fell. Despite those steep drops, Europe's major markets ended with slight gains. France's CAC 40 added 0.2 percent, while Germany's DAX inched up 0.1 percent. In the U.K, the FTSE 100 index of leading British companies barely moved from the previous day. "The template for equity markets today has been clear from the beginning," said Alastair McCaig, market analyst at IG. "Oil and energy manufacturers are down, while those companies that are oil consumers are up." In government bond trading, prices for 10-year Treasurys rose. The yield, which moves in the opposite direction, fell to 2.17 percent. In metals trading, the price of gold for February delivery lost $22 to $1,175.50 an ounce, and silver for March fell $1.05 to $15.56 an ounce. Copper for March fell 11 cents to $2.85 a pound. In other energy futures trading on the New York Mercantile Exchange: — Wholesale gasoline for December delivery fell 13.12 cents to $1.90 a gallon. — December heating oil fell 16.57 cents to $2.23 a gallon. — January natural gas fell 27 cents to $4.09 per 1,000 cubic feet
Benchmark Currency Rates

Source: Bloomberg | 
		4:45 PM	 

Southeast Asian stock markets mostly drifted lower on Friday November 28 as a sharp fall in global oil prices dealt a blow to energy shares, but prospects of lower fuel costs [...]
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Asian energy shares slide after OPEC decision

29-Nov-2014 Intellasia | AP | 6:00 AM

Crude oil and Asian energy shares tumbled Friday as OPEC’s decision to keep production steady rippled across the globe. Japanese stocks rose after a slew of economic [...]
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Asia stocks mixed, oil slumps ahead of OPEC meet

28-Nov-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 7:54 AM

Asian stocks were mixed in lacklustre trade on Thursday (Nov 27), while oil prices hit a new four-year low ahead of a pivotal OPEC meeting expected to maintain the [...]
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Asian shares meander as China data disappoints

28-Nov-2014 Intellasia | AP | 6:00 AM

Asian shares meandered Thursday as data showed a drop in Chinese industrial profits, but expectations for further stimulus moves from China and Europe helped to limit losses. [...]
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Asian stocks mostly up after US data

27-Nov-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 7:29 AM

Asian markets were mostly higher Wednesday November 26 following better-than-expected US economic growth data and news that Germany had narrowly averted recession. The dollar [...]
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Asia stocks rise after US growth revised higher

27-Nov-2014 Intellasia | AP | 6:00 AM

Asian stock markets mostly posted modest gains Wednesday as stronger US growth was tempered by a less rosy outlook for China. KEEPING SCORE: Hong Kong’s Hang Seng rose [...]
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Asian stocks mixed after China-fuelled rally

26-Nov-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 7:26 AM

Asian markets were mixed Tuesday November 25 after a Chinese rate cut had fueled a rally in the previous session, while Tokyo played catch-up following a long holiday [...]
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EMERGING MARKETS-China easing puts emerging stocks in buoyant mood

26-Nov-2014 Intellasia | Reuters | 6:00 AM

Emerging market assets started the week in buoyant mood as Asian bourses got their first chance to react to China’s surprise monetary easing that came after local [...]
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Asia stocks fall as China rate cut effect fades

26-Nov-2014 Intellasia | AP | 6:00 AM

Asian stocks mostly fell Tuesday as the boost from China’s surprise interest rate cuts faded and investors awaited US economic data and an OPEC meeting. KEEPING SCORE: [...]
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Asian stocks climb after China rate cut

25-Nov-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 11:13 AM

Asian markets rallied Monday November 24 after China’s surprise move last week to cut interest rates for the first time in more than two years as its leaders try to [...]
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Asia cheered by China, European stimulus

25-Nov-2014 Intellasia | Reuters | 6:00 AM

Asian share markets followed the dollar higher on Monday as the prospect of further policy stimulus in China and Europe whetted risk appetites while sending the euro [...]
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