Asia: Marts mixed after fresh Wall St losses

15-Apr-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 10:12 AM Print This Post

sian markets were mixed yesterday Monday April 14 following another heavy sell-off on Wall Street while concerns over the crisis in Ukraine resurfaced.
Investors are also awaiting the release this week of first-quarter growth data from China, with analysts tipping a further slowdown in the world’s number two economy.
Tokyo ended 0.36 per cent lower, giving up 49.89 points to 13,910.16, while Sydney shed 1.28 per cent, or 69.7 points, to 5,358.9, marking its heaviest fall in four weeks. Seoul was flat, dipping 0.42 points to 1,997.02. Shanghai ended flat, edging up one point, to 2,131.54. Bangkok and Mumbai were closed for public holidays.
Closer to home for Asian investors, eyes this week are on tomorrow’s release of China’s gross domestic product figures for January-March.
A survey of 13 economists by AFP saw a median forecast of 7.3 per cent growth in the period, which would mark the fourth slowdown in the past five quarters, and put China on track for its worst annual performance since 1990.
Traders are increasingly worried about the Chinese economy, a key driver of global growth, following a string of weak data including on manufacturing and trade.
Some analysts say China’s leaders will soon unveil stimulus measures to get the economy back up to speed. However, others suggest Beijing is happy to endure some initial pain as it looks to transform the growth model from one driven by exports and government investment.

HONGKONG: SHARES ended 0.15 per cent higher on bargain-hunting yesterday as investors brushed off another negative lead from Wall Street ahead of the release of Chinese economic growth data later in the week.
The benchmark Hang Seng Index rose 35.16 points to 23,038.80.
MMG rose 8.9 per cent to HK$1.85 after it agreed to a US$5.85 billion all-cash deal to buy a copper mine from Glencore Xstrata.
Citic Securities fell 2.4 per cent to HK$17.26 on news it will take a stake in independent broker BTIG LLC.

SINGAPORE: THE Straits Times Index added 16.61 points, or 0.52 per cent, to 3214.83. The FTSE ST Mid Cap Index rose 0.40 per cent while the FTSE ST Small Cap Index added 0.08 per cent.
Among the top actives, DBS jumped 0.61 per cent, Olam was unchanged, Keppel Corp was up 0.36 per cent, OCBC Bank climbed 0.21 per cent and UOB rose 0.55 per cent.
Of the outperforming sectors, the FTSE ST Industrials Index gained 1.10 per cent.
Of the two biggest stocks, Jardine Strategic Holdings rose 3.15 per cent and Jardine Matheson Holdings was up 0.63 per cent.

KUALA LUMPUR: SHARE prices on Bursa Malaysia closed lower yesterday, in tandem with regional bourses on weak external sentiment, dealers said.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 1.13 points lower at 1,851.53. Losers outpaced gainers 454 to 396 while 305 counters were unchanged, 470 untraded and 16 others suspended.
Turnover fell to 2.02 billion shares valued at RM2.04 billion, from 2.22 billion shares worth RM1.97 billion on Friday.
A dealer said the local bourse followed Asian stock markets, which fell following two consecutive days of decline in the United States following forecasts of lower American corporate profits.
The Industrial Index fell 6.04 points to 3,196.41, the Plantation Index lost 10.84 points to 8,977.94 and the Finance Index slipped 0.111 of a point to 16,865.94.
The FBM Emas Index fell 18.98 points to 12,837.55, FBMT100 Index slipped 18.939 points to 12,480.61, FBM 70 dropped 65.48 points to 14,043.6 and the ACE Index declined 24.91 points to 6,741.31.
Among actives, Asia Bioenergy, GSB and PDZ earned half-a-sen each to 8.5 sen, 12 sen and 14.5 sen, respectively, while Talam Transform and Nexgram added one sen to 11 sen and 16.5 sen, respectively.
Among heavyweights, Maybank added one sen to RM9.77, TNB gained eight sen to RM11.98, CIMB slipped two sen to RM7.38, Axiata lost seven sen to RM6.59 and Sime Darby was flat at RM9.28.
Meanwhile, the FBM KLCI futures contracts on Bursa Malaysia Derivatives closed lower on weak external factors, too.
Spot month April 2014 was flat at 1,848 and May 2014 added one point to 1,843.
June 2014 slipped one point to 1,840.5 and September 2014 shed three points to 1,836.
Turnover rose to 4,526 lots while open interest climbed to 33,813 contracts.

In other markets:
* Jakarta rose one per cent, or 43.31 points, to 4,864.88. Aneka Tambang gained 4.17 per cent at 1,125 rupiah, while Indosat fell 1.04 per cent to 3,810 rupiah.
* Taipei fell 0.57 per cent, or 50.63 points, to 8,857.42. TSMC rose 0.42 per cent to T$120.5 while Cathay Financial Holdings shed one per cent to T$44.55.
* Wellington fell 0.55 per cent, or 27.89 points, to 5,063.54. Fletcher Building dropped 1.13 per cent to NZ$9.59 and Air New Zealand fell 0.49 per cent to NZ$2.05.
* Manila slipped 0.11 per cent, or 7.41 points, to 6,589.55. Metropolitan Bank and Trust shed 0.25 per cent to 79.60 pesos and Philippine Long Distance Telephone was flat at 2,744 pesos.

VIETNAM: Vietnamese stocks closed lower as investors continued to close their position amid the fall of global markets on concerns over anew tensions in Ukraine.
The benchmark VN Index lost 4.46 points or 0.74% to 596.11. Volume rose 20% to 128 million shares worth of VND2.587 trillion.
Put-through trading contributed 31.95 million shares worth of VND777.68 billion. We saw 10 million CTG shares changed hands; 1.82 million HSG shares, 15.2 million TBC shares and 1.54 million NSC shares changed hands,
The market breadth was negative with 62 gainers, 168 losers and 53 unchanged.
The VN30 closed down 4.73 points or 0.71% to 661.12. Among 30 constituents, 2 gained, 25 fell, 3 stood still.
On the Hanoi Stock Exchange, the HNX lost 0.69 point or 0.79% to 86.97. Trading volume fell 25% to 61 million shares worth VND736 billion.
The breadth was negative with 83 gainers, 157 losers, 51 unchanged and the rest untraded.
The HNX30 lost 2.54 points or 1.38% to 180.7.

EUROPE: European stock markets slid yesterday as investors reacted to the escalating crisis between Kiev and Moscow, dealers said.
Sentiment was rocked after Ukraine declared a “full-scale” military operation against pro-Russia forces, amid deadly clashes in its restive east.
Nearing midday, London’s FTSE 100 index sank 0.82 per cent to stand at 6,508.63 points.
Frankfurt’s DAX 30 shed 1.06 per cent to 9,216.14 points and Paris’ CAC 40 index lost one per cent to 4,322.33, compared with Friday’s closing levels.
Markets were hit by clashes between pro-Russian forces and the Kiev authorities in eastern Ukraine.
In reaction, Moscow’s Micex stocks index, which is denominated in rubles, fell 1.32 per cent and the RTS, which is denominated in dollars, sank 2.07 per cent.

AMERICA: Stocks are closing higher, clawing back some of the ground they lost last week, as investors were encouraged by solid earnings from Citigroup and a pickup in retail sales last month.

The government reported earlier Monday that U.S. retail sales notched their biggest increase since 2012 in March. February’s numbers were also revised higher.

Citigroup rose 4 percent after its results came in better than the market was expecting. That was a welcome surprise following an earnings miss last week by JPMorgan Chase.

The Standard & Poor’s 500 index rose 14 points, or 0.8 percent, to close at 1,830. Energy stocks rose the most.

The Dow Jones industrial average rose 146 points, or 0.9 percent, to 16,173. The Nasdaq rose 22 points, or 0.6 percent, to 4,022.

Benchmark Currency Rates


1.3816 0.0098 1.6717 1.1358 0.9113 0.9393 0.1290


0.7238 0.0071 1.2099 0.8221 0.6596 0.6799 0.0933


101.8700 140.7500 170.2870 115.6940 92.8290 95.6890 13.1376


0.5982 0.8265 0.0059 0.6794 0.5451 0.5619 0.0771


0.8805 1.2164 0.0086 1.4718 0.8023 0.8271 0.1135


1.0974 1.5162 0.0108 1.8345 1.2464 1.0308 0.1415


1.0646 1.4708 0.0105 1.7795 1.2091 0.9701 0.1373


7.7542 10.7133 0.0761 12.9620 8.8069 7.0659 7.2840 – 


Source: Bloomberg


Category: FinanceAsia

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