Asia: Marts mixed ahead of US job data

04-Jul-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 7:37 AM Print This Post

Asian markets were mixed yesterday Thursday July 03, as profit-taking tempered the buoyant sentiment fuelled by another record-breaking performance on Wall Street.

Investors are now keeping their focus on the release of key US jobs figures, hoping for further signs a recovery in the world’s number-one economy is picking up strength.

Tokyo ended 0.14 per cent lower, edging down 21.68 points, to 15,348.29, after rising more than 1.5 per cent over the previous three days. Seoul lost 0.21 per cent, or 4.31 points, to close at 2,010.97.

However, Sydney added 0.66 per cent, or 35.8 points, to 5,491.2 and Shanghai closed 0.19 per cent higher, adding 3.81 points to 2,063.23.

Regional shares have enjoyed a broad rally this week, helped by data suggesting Chinese manufacturing is getting back on track.

HONGKONG: SHARES finished flat yesterday, with a record Wall Street lead offset by profit-taking while investors await the release of key US jobs data.
The benchmark Hang Seng Index edged down 18.18 points to 23,531.44 on turnover of HK$56.57 billion.
Internet giant Tencent climbed 1.55 per cent to HK$124.7, Hong Kong Exchange added 1.22 per cent to HK$148.9 and PetroChina was down 1.01 per cent at HK$9.83.
Henderson Land Development eased 1.28 per cent to HK$46.40 and China Mobile slipped 0.39 per cent to HK$76.10.

SINGAPORE: THE Straits Times Index (STI) gained 9.24 points, or 0.28 per cent, to close at 3,273.15.
The FTSE ST Mid Cap Index gained 0.47 per cent while the FTSE ST Small Cap Index added 0.29 per cent.
Among the top actives, DBS advanced 0.77 per cent, UOB surged 1.85 per cent, RH PetroGas dipped 6.47 per cent, OCBC Bank added 0.11 per cent and SingTel slipped 0.26 per cent.
The outperforming sector, FTSE ST Technology Index added 1.01 per cent. Its two biggest stocks, Silverlake Axis increased by 1.75 per cent and STATS ChipPAC gained 0.81 per cent.

KUALA LUMPUR: BURSA Malaysia closed higher yesterday, supported mainly by gains on financial, energy and plantation stocks on renewed buying interest and positive domestic sentiment, dealers said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 0.098 per cent, higher at 1,888.69, after moving between 1,884.77 and 1,891.1.
The Finance Index rose 15.78 points to 17,240.11 and Plantation Index firmed 14.04 points to 9,247.03.
The Industrial Index dipped 2.59 points to 3,251.77.
The FBM Emas Index edged up 11.79 points to 13,101.12, FBMT100 Index improved 6.5 points to 12,720.03 and FBM ACE index rose 36.45 points to 6,771.53. The FBM 70 index parted 15.64 points to 14,269.15.
Market breadth was positive as gainers outpaced losers by 440 to 377, with 347 counters flat, 445 untraded and 14 others suspended.
Of the gainers, Ipmuda Bhd added 33 sen to RM1.10, United Plantation rose 30 sen to RM28 and Nestle gained 28 sen to RM67.24.
Among the actives, MAS rose two sen to 23 sen, China Stationery Ltd lost one sen to 7.5 sen and Ire-tex Corp shed 1.5 sen to 12 sen.
Among the heavyweights, Maybank rose one sen to RM9.85, Public Bank added 14 sen to RM19.90 and TNB appreciated eight sen to RM12.46.
Meanwhile, FBM KLCI futures contracts on Bursa Malaysia Derivatives closed higher yesterday tracking the firmer cash market.
Spot month July 2014 rose six points to 1,894.5, August 2014 added five points to 1,893.5, September 2014 edged up 4.5 points to 1,892 and December 2014 added six points to 1,889.
Turnover eased slightly to 2,910 lots from 2,973 on Wednesday while open interest widened to 33,502 contracts from 32,769 previously.

In other markets:

Bangkok added 0.09 per cent, or 1.40 points, to 1,493.21. Telecoms company Advanced Info Service lost 0.92 per cent to 216.00 baht, while Siam Cement rose 1.30 per cent to 468.00 baht.

Jakarta ended down 0.40 per cent, or 19.54 points, at 4,888.74. Miner Aneka Tambang rose 4.13 per cent to 1,135 rupiah while Bank Negara Indonesia fell 1.15 per cent to 4,745 rupiah.

Manila closed 0.71 per cent higher, adding 48.71 points to 6,899.31. Philippine Long Distance Telephone rose 0.74 per cent to 3,000.00 pesos, Universal Robina added 1.69 per cent to 156.00 pesos and SM Investments inched up 0.06 per cent to 809.50 pesos.

Mumbai fell 0.07 per cent or 17.46 points to end at 25,823.75 points. GMR Infrastructure fell 7.98 per cent to 31.15 rupees, while Jaiprakash Power Ventures lost 4.66 per cent to 22.50 rupees. Trading had to be halted for more than three hours due to a network outage.

Taipei added 0.44 per cent, or 41.27 points, to 9,526.23. Taiwan Semiconductor Manufacturing Co. put on 1.51 percent to T$134.5 while Hon Hai was 0.97 per cent higher at T$104.0.

Wellington rose 0.35 per cent, or 18.01 points, to 5,167.39. Air New Zealand was up 1.4 per cent at NZ$2.17 and Fletcher Building lifted 0.91 per cent to NZ$8.85.

VIETNAM: Vietnamese stocks ended higher today as investors bet for good Q2 earnings, the index passed 580 resistance level at high liquidity.
The benchmark VN Index added 6.22 points or 1.07% to 585.02. Volume rose 20.5% to 131 million shares worth of VND2.004 trillion. Put-through trading contributed 4.3 million shares worth of VND144.72 billion.
The market breadth was positive with 151 gainers, 66 losers and 63 unchanged.
The VN30 gained 6.97 points or 1.12% to 627.17. Among 30 constituents 22 gained, 5 fell and 3 stood still.
On the Hanoi Stock Exchange, the Hanoi Stock Exchange advanced for a fifth consecutive day to two-month high on local buying. The HNX-Index, the measure of 361 stocks, rose 0.76 points, or 0.96%, to end at 79.66, the highest since May 5.
The traded volume was up 70% from a day earlier, totaling 130 million shares worth VND1,280 billion, up 70%. Nearly 52 million shares were traded via negotiations, including 32 million shares of Saigon Hanoi Bank (SHB).
The market breadth was positive on the northern exchange. Among index members, 146 stocks rose, 58 tumbled, 57 closed unmoved, and 132 were untraded.
The HNX 30 Index – the tracker of top 30 stocks calculated based on free float adjusted market capitalization – added 1.63 points, or 1.01%, to end at 162.32.

EUROPE: European stocks rose yesterday as traders awaited crucial jobs data for the latest reading on the world’s largest economy and ahead of the ECB’s latest monetary policy decision.
London’s benchmark FTSE 100 index gained 0.46 per cent to 6,848.12 points in midday deals.
The Paris CAC 40 added 0.52 per cent to 4,467.66 points and Frankfurt’s DAX 30 won 0.64 per cent to stand at 9,974.19 compared with Wednesday’s close.
The pan-European FTSEurofirst 300 index was up by 0.3 per cent at 1,389.34 points. The eurozone’s blue-chip Euro STOXX 50 index rose 0.4 per cent to 3,265.20 points.
“The big question is whether a strong non-farm payrolls reading is going to be treated as good news, signaling fresh gains for markets, or as bad news, with equity indices dropping back from their recent highs,” said an analyst at IG traders.
“In all the non-farm excitement, the ECB has been somewhat overlooked, but this month’s meeting is not expected to match the excitement of June.”

AMERICA: The Dow Jones industrial average topped 17,000 for the first time Thursday, another in a string of records for the index that has lifted portfolios in a five-year bull market for stocks.

The gain pushed the 118-year-old Dow, the oldest gauge for tracking stock prices, past its first 1,000-point milestone this year.

The record came after another day of good news for the economy: The government reported surprisingly robust job gains in June, underscoring a recent trend of stronger hiring and healthy manufacturing.

The Dow’s rise this year has been built on tiny gains, barely noticeable day by day, a stark contrast to last year’s bigger moves that drove the index up 27 percent. Thursday followed the recent script. The index rose from the start of trading, but ended the day just half of percentage point higher. Trading was also extremely light. The market closed early ahead of the Fourth of July holiday.

Investors also pushed the Standard & Poor’s 500 index within striking range of its round-number milestone — just 15 points from 2,000.

“Right now the story is onward and upward,” said Neil Massa, senior trader at John Hancock Asset Management.

On Thursday, the government reported that U.S. employers added 288,000 workers to their payrolls in June and the unemployment rate fell to 6.1 percent. The U.S. economy is now creating around 231,000 jobs each month in 2014, compared to roughly 194,000 a month last year.

“It topped even some of the most optimistic of forecasts,” Massa said.

The jobs report is the latest piece of data to show the economy continues to improve steadily. On Wednesday, payroll processor ADP said private businesses added 281,000 jobs in June, up from 179,000 in May. Also this week, the Institute for Supply Management said the U.S. manufacturing expanded for the 13th consecutive month.

Also helping stocks are solid corporate earnings and continued support from central banks. That has pushed prices higher despite a harsh U.S. winter and worries about fighting in Ukraine and Iraq.

The Dow rose 92.02 points to finish at 17,068.26. The S&P 500 closed up 10.82 points, or 0.6 percent, to 1,985.44 and the Nasdaq composite gained 28.19 points, or 0.6 percent, to 4,485.93.

While the Dow’s passing of 17,000 is notable, most Wall Street professionals don’t focus on it. The vast majority of mutual funds and investors use the broader S&P 500 as their benchmark for how they are performing.

The Dow has lagged behind the rest of the stock market this year. The index is up 3 percent compared with the S&P 500′s rise of 7.4 percent.

“That said, investors should be feeling good about Dow 17,000,” Scott Wren, a senior equity strategist with Wells Fargo Advisors, wrote in a note to investors. “The stock market has more than recovered from levels seen during the financial crisis more than five years ago. Slow and steady can win the race; and it has.”

The Dow has climbed more than 10,500 points since its Great Recession low of 6,547.05 on March 9, 2009.

Among individual stocks, the pet supply chain PetSmart rose the most in the S&P 500 on Thursday. PetSmart gained $7.48, or 13 percent, to $67.28 after the activist investor firm Jana Partners disclosed a 9.9 percent stake in the company.

Investors sold bonds after the strong jobs report. The yield on the 10-year Treasury note rose to 2.64 percent from 2.63 percent late Wednesday. Bond yields rise when prices fall.

Thursday was the slowest trading day of the year for stocks. Roughly 1.9 billion shares changed hands on the New York Stock Exchange.

U.S. markets will be closed Friday for the Fourth of July holiday. U.S. stock trading will reopen Monday.

Benchmark Currency Rates

USD

1.3607 0.0098 1.7155 1.1192 0.9401 0.9352 0.1290

EUR

0.7349 0.0072 1.2607 0.8225 0.6909 0.6872 0.0948

JPY

102.1700 139.0200 175.2680 114.3260 96.0360 95.5330 13.1818

GBP

0.5829 0.7932 0.0057 0.6524 0.5480 0.5451 0.0752

CHF

0.8935 1.2158 0.0087 1.5328 0.8400 0.8355 0.1153

CAD

1.0637 1.4474 0.0104 1.8247 1.1905 0.9948 0.1372

AUD

1.0696 1.4551 0.0105 1.8345 1.1969 1.0055 0.1380

HKD

7.7506 10.5463 0.0759 13.2960 8.6743 7.2862 7.2469 – 

 

Source: Bloomberg

 


Category: FinanceAsia

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