Asia: Higher on robust Wall Street gains

18-Feb-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 8:07 AM Print This Post

Asian stock markets rose yesterday Monday February 17 following robust gains on Wall Street, despite disappointing Japanese growth figures which dampened hopes for a strong recovery.

Global markets rallied last week following a turbulent period, as investors were reassured that the United States’ economy can handle the Federal Reserve’s decision to reduce its stimulus programme.

On Monday, Tokyo’s benchmark Nikkei 225 index rose 0.56 per cent, or 80.08 points, after a volatile session to end at 14,393.11. Seoul climbed 0.31 per cent, or 6.08 points, to 1,946.36 and Sydney rose 0.50 per cent, or 26.6 points, to close at 5,382.9. Shanghai climbed 0.92 per cent.

The benchmark Shanghai Composite finished up 19.56 points, at 2,135.41.

HONGKONG: SHARES closed 1.07 per cent higher yesterday, taking their lead from strong gains on Wall Street as investors regained confidence following the Federal Reserve’s move to reduce the stimulus.
The benchmark Hang Seng Index added 237.53 points to 22,535.94 on turnover of HK$60.31 billion, in line with broad rises in markets across Asia.
Insurers were leading the charge, with China Life up 5.7 per cent to 2,628 points and Ping An up 3.8 per cent to 2,318 points – despite a warning from Japanese bank Nomura that the current high growth in the sector was “unsustainable”.

SINGAPORE: THE Straits Times Index ended 30.57 points, or 1.01 per cent, higher at 3069.28.
The FTSE ST Mid Cap Index gained 0.55 per cent while the FTSE ST Small Cap Index appreciated 0.71 per cent.
Of the top active stocks, UOB jumped 2.56 per cent, DBS advanced 0.67 per cent, SingTel rose 0.28 per cent, GLP added 1.07 per cent and Ocean Sky increased by 28.67 per cent.
The outperforming sector, FTSE ST Health Care Index, advanced 2.30 per cent. Its two biggest stocks were Raffles Medical Group, up 4.73 per cent and Biosensors International Group (unchanged).

KUALA LUMPUR: SHARE prices on Bursa Malaysia closed higher yesterday, boosted by interest in small caps and lower liners for short-term gains, dealers said.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.11 points to close at 1,827.48, after moving between 1,819.69 and 1,833.39 throughout the day.
The Finance Index garnered 21.66 points to 16,574.78, the Industrial Index increased 8.77 points to 3,106.68 and the Plantation Index jumped 61.93 points to 8,610.56.
The FBM Emas Index improved 55.18 points to 12,639.42, the FBMT100 Index advanced 46.3 points to 12,312.43, the FBM 70 ended 19.5 points better at 13,830.86 and the FBM ACE surged 119.18 points to 6,421.98.
Market breadth was positive as gainers outnumbered losers 573 to 319, while 284 counters were unchanged, 440 untraded and 18 others suspended. Volume rose sharply to 3.63 billion shares worth RM2.57 billion from 2.37 billion shares worth RM2 billion on Friday.
Among actives, PDZ lost two sen to 13.5 sen, while Minetech and Sumatec added one sen each to 31.5 sen and 32.5 sen, respectively. Of the heavyweights, Maybank lost four sen to RM9.75 and Sime Darby slipped one sen to RM8.99, while TNB chalked up 18 sen to RM12.18 and CIMB earned one sen to RM7.10.
Meanwhile, the FBM KLCI futures contracts on Bursa Malaysia Derivatives closed higher, tracking the firmer cash market.
Spot month February 2014 rose 10.5 points to 1,827, March 2014 and June 2014 added 11.5 points each to 1,829 and 1,826.5, respectively, and September 2014 gained 11 points to 1,825.
Turnover rose to 7,359 lots from Friday’s 4,295 lots while open interests increased to 38,121 contracts from 35,039 contracts previously.

In other markets:

* Mumbai rose 0.48 per cent, or 97.24 points, to end at 20,464.06 points. Financial Technologies gained 4.98 per cent to 295.95 rupees per share and Tata Power rose 4.81 per cent to 77.40 rupees per share.

* Jakarta closed up 1.05 per cent, or 47.32 points, at 4,555.37. State miner Aneka Tambang gained 1.97 per cent to 1,035 rupiah, while Bank Permata lost 1.60 per cent to 1,230 rupiah.

* Bangkok added 1.56 per cent, or 20.50 points, to 1,332.37. Airports of Thailand gained 3.98 per cent to 183.00 baht, while telecoms company Advanced Info Service rose 3.26 per cent to 222 baht.

* Manila closed 0.89 per cent higher, or 54.16 points, to 6,167.82. Top-traded Metropolitan Bank and Trust Co gained 2.39 per cent to 81.50 pesos and SM Investments Corp rose 0.07 per cent to 703.50 pesos.

* Taipei edged up 0.07 per cent, or 5.87 points, to 8,519.55. Taiwan Semiconductor Manufacturing Co was 0.93 per cent higher at T$108.5, while MediaTek edged down 0.58 per cent to T$429.0.

* Wellington edged up 0.13 per cent, or 6.59 points, to 4,894.99. Fletcher Building gained 0.63 per cent to NZ$9.54 while Air New Zealand was steady on NZ$1.695.

VIETNAM: Vietnamese stocks ended mixed today as investors took profit from blue chips but they continued to pay premium for stocks in smaller cap bourse.
The benchmark VN Index lost 2.02 points or 0.35% to 570.2. Volume rose 14.6% to 163.7 million shares worth of VND2.512 trillion.
Put-through trading contributed 4.5 million shares worth of VND116.12 billion. We saw 1.1 million HAG shares changed hands at VND25,000 each; 2 million OCG shares changed hands at VND11,800.
The market breadth was positive with 135 gainers, 106 losers and 54 unchanged.
The VN30 closed down 2.61 points or 0.41% to 638.8. Among 30 constituents, 6 gained, 20 fell, 4 stood still.
Market opened in the red with 5.6 million shares changed hands. Trading moved fast as both buyers and sellers were active. Profit taking pressure was seen but selling was in order. The buyers in late morning session were even a bit aggressive, however, selling forces were still stronger and it kept the market down at the close and blue chips led the way down.
The top market caps were weak, GAS, BID, MSN, VCB, VIC lost, only VNM stood still.
Banking shares were all losers. Blue chips were weak also, most ended lower.
Broker shares were weak, all are losers except AGR stood still.
Property stocks bucked the trend to perform well, HAG posted strong gain, DIC limited up, ITC, KBC, ITA, NVT, SJS, NTL were among gainers.
On the Hanoi Stock Exchange, the HNX bucked trend to rise 0.88 point or 1.11% to 79.64. Trading volume fell 9% to 103.6 million shares worth VND1.015 trillion.
The breadth was positive with 137 gainers, 85 losers, 73 unchanged and the rest untraded.
The HNX30 jumped 2.65 points or 1.7% to 158.27.

EUROPE: European stocks markets advanced yesterday, building on a recent recovery, while investors were increasingly warming to indebted eurozone member Italy.
At 1130GMT, the FTSEurofirst 300 index of top European shares was up 0.5 per cent at 1,338.67 points, a level not seen in 31/2 weeks. London’s benchmark FTSE 100 stocks index gained 0.84 per cent to 6,719.70 points in late morning deals.
Frankfurt’s DAX 30 rose 0.13 per cent to 9,674.70 points and in Paris, the CAC 40 edged up 0.02 per cent to 4,340.87.
Milan’s FSTE Mib index gained 0.10 per cent to 20,456 points and Madrid’s IBEX 35 edged up 0.08 per cent to 10,141.10.
“Having got off to a horrible start in the first two weeks of 2014, European equity markets last week posted their second successive weekly rise as concerns about economic growth and an emerging markets slowdown slipped into the background,” said chief market analyst at CMC Markets UK.

Benchmark Currency Rates

USD EUR JPY GBP CHF CAD AUD HKD

USD

1.3701 0.0098 1.6718 1.1208 0.9132 0.9064 0.1290

EUR

0.7300 0.0071 1.2203 0.8181 0.6664 0.6622 0.0941

JPY

102.1500 139.9500 170.7640 114.5100 93.2650 92.6270 13.1728

GBP

0.5981 0.8195 0.0059 0.6705 0.5461 0.5423 0.0771

CHF

0.8922 1.2223 0.0087 1.4915 0.8145 0.8087 0.1150

CAD

1.0953 1.5005 0.0107 1.8311 1.2276 0.9932 0.1412

AUD

1.1028 1.5112 0.0108 1.8436 1.2362 1.0070 0.1422

HKD

7.7549 10.6225 0.0759 12.9646 8.6920 7.0800 7.0309

Source: Bloomberg

 


Category: FinanceAsia

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