Asia: Marts mixed, Tokyo rebounds

06-Feb-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 8:00 AM Print This Post

Asian markets were mixed yesterday Wednesday February 5, with a rally on Wall Street giving Tokyo the impetus to claw back some of its losses in the previous session.

Tokyo’s Nikkei, which slumped more than four per cent on Tuesday, rose 1.23 per cent, or 171.91 points, to 14,180.38. The index was boosted by a surge in Panasonic after the computer giant said it had swung back into profit. It said on Tuesday its nine-month net earnings came in at 243 billion yen (RM7.96 billion).

Seoul rose 0.24 per cent, or 4.47 points, to 1,891.32 but Sydney lost 0.53 per cent, or 26.8 points, to close at 5,070.3. Shanghai was closed for the public holiday.

Markets around the world have been sent into a tailspin in recent days following worse-than-expected manufacturing activity data from China and the United States, suggesting softness in the global economy.

But Wall Street’s three main indices, which each saw losses of more than two per cent at the start of the week, rebounded slightly on Tuesday on bargain buying and solid corporate results, including from fast-food giant Yum Foods and fashion retailer Michael Kors.

Eyes are now on the release of US non-farm payrolls data tomorrow, which will give investors a better handle on the state of the world’s No. 2 economy.

Last month’s results, showing the number of jobs created in December was less than half as expected, jolted markets as it suggested the economy was not as strong as expected just as the US Federal Reserve began tapering its bond-buying stimulus.

HONGKONG: SHARES slipped 0.6 per cent yesterday, reversing earlier gains despite a rally on Wall Street, as traders remain on edge about the strength of the global economy.
The benchmark Hang Seng Index lost 128.39 points to end at 21,269.38 on turnover of HK$65.36 billion.
World markets have been in turmoil since factory data from China and the United States pointed to a slowdown in the global economy.
Lenovo rose 1.19 per cent to HK$8.51, Galaxy Entertainment fell 7.34 per cent to HK$66.25 and HSBC slipped 0.63 per cent to HK$78.65.

SINGAPORE: THE Straits Times Index ended 5.71 points, or 0.19 per cent, lower, to 2960.09 points yesterday.
The FTSE ST Mid Cap Index declined 0.07 per cent and the FTSE ST Small Cap Index lost 0.17 per cent.
Top active stocks SingTel fell 0.58 per cent and DBS shed 0.8 per cent, while OCBC was up 0.11 per cent and Keppel Corp gained 0.98 per cent.
The outperforming sectors were represented by the FTSE ST Oil & Gas Index, which was up 0.9 per cent.
The underperforming sector was the FTSE ST Utilities Index, which declined 1.93 per cent

KUALA LUMPUR: SHARES on Bursa Malaysia finished on a firm note, with the FTSE Bursa Malaysia KLCI (FBM KLCI) bouncing back from Tuesday’s losses to close 7.05 points higher at 1,785.88 Wednesday.
The benchmark index, spurred by bargain-hunting, fluctuated between 1,782.82 and 1,786.58 throughout the trading, with gains mostly recorded in finance and index-linked counters.
RHB Research Institute technical analyst Mohammad Ashraf Abu Bakar said the local market performed positively Wednesday due to Tuesday’s oversold activity.
The Finance Index bolstered 107.82 points for 16,396.33, the Plantation Index rose 25.81 points to 8,332.18 but the Industrial Index slipped 6.2 points to 3,025.17.
The FBM Emas Index chalked up 43.48 points to 12,335.68, the FBMT100 Index increased 38.41 points to 12,047.2, the FBM 70 gained 7.69 points to 13,591.68 and the FBM Ace soared 144.32 points to 6,016.67.
Gainers trounced losers 443 to 301.
Volume rose to 1.55 billion shares valued at RM1.63 billion, from 1.26 billion shares worth RM2 billion on Tuesday.
Among the actives, Minetech Resources added 1.5 sen to 23 sen and Iris Corp gained five sen to 44.5 sen. Heavyweights Maybank rose seven sen to RM9.63 and TNB chalked up eight sen to RM11.36. However, Axiata Group lost five sen each to RM6.50.
Meanwhile, FBM KLCI futures contracts on Bursa Malaysia Derivatives also closed higher yesterday.
Spot month February 2014 gained eight points to 1,778, March 2014 added 7.5 points to 1,777.5, while both June 2014 and September 2014 garnered six points each to 1,774.5 and 1,773, respectively. Turnover slipped to 6,376 lots from 7,421 lots, while open interest narrowed to 37,331 contracts from 38,434 contracts on Tuesday.

In other markets:

* Taipei tumbled 2.34 per cent, or 198.09 points, to 8,264.48 in the first trading session following a week-long Lunar New Year holiday.

* Wellington edged up 0.11 per cent, or 5.32 points, to 4,807.94.* Manila climbed 0.38 per cent, or 22.40 points, to 5,908.41.

* Manila climbed 0.38 per cent, or 22.40 points, to 5,908.41.

* Bangkok ended up 0.3 per cent at 1,280.25

* Jakarta rose one per cent to close at 4,384.31.

EUROPE: European equities were narrowly mixed yesterday in reaction to economic data out of the eurozone, traders said.
Markets were looking ahead to the European Central Bank’s monetary policy decision today and this week’s United States employment data.
London’s benchmark FTSE 100 index climbed 0.19 per cent to stand at 6,461.3 points approaching midday. Frankfurt’s DAX 30 dropped 0.23 per cent to 9,107.37 points and the CAC 40 in Paris inched up 0.08 per cent to 4,120.72.
At 1149GMT, the FTSEurofirst 300 index of top European shares was up 0.2 per cent at 1,273.42 points, taking a breather following a six per cent slide in the past two weeks.
The sell-off, the index’s sharpest retreat in seven months, was spurred by jitters over the impact of reduced stimulus from the US Federal Reserve on emerging market assets as well as tepid US and Chinese manufacturing data.

AMERICA: The U.S. stock market is closing slightly lower after a survey on hiring did little to ease uncertainty about the health of the economy.

The Dow Jones industrial average slipped 5.01 points, or 0.03 percent, to close at 15,440.23 Wednesday. The Standard & Poor’s 500 index was down 3.56 points, or 0.2 percent, to 1,751.64. The Nasdaq slipped 19.97 points, or 0.5 percent, to 4,011.55.

A private survey showed that U.S. businesses added jobs at a steady but modest pace in January, a sign that hiring has rebounded after a disappointing December. Investors are also looking to a key government report on job growth on Friday.

Freight transportation company C.H. Robinson Worldwide fell the most among companies in the S&P 500 index. It dropped $5.48, or 9 percent to $53.16.

Benchmark Currency Rates

USD EUR JPY GBP CHF CAD AUD HKD

USD

1.3535 0.0098 1.6321 1.1061 0.9035 0.8974 0.1289

EUR

0.7389 0.0073 1.2057 0.8173 0.6675 0.6630 0.0952

JPY

101.5800 137.4900 165.7520 112.3640 91.7140 91.1380 13.0880

GBP

0.6128 0.8293 0.0060 0.6777 0.5537 0.5499 0.0789

CHF

0.9040 1.2236 0.0089 1.4752 0.8168 0.8114 0.1165

CAD

1.1067 1.4980 0.0109 1.8064 1.2243 0.9938 0.1426

AUD

1.1144 1.5083 0.0110 1.8185 1.2326 1.0067 0.1436

HKD

7.7612 10.5047 0.0764 12.6646 8.5847 7.0111 6.9660

Source: Bloomberg

 


Category: FinanceAsia

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