Asia: Marts rise on strong Wall St rally

08-Feb-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 9:59 AM Print This Post

Asian markets rose yesterday Friday February 7 after a strong Wall Street rally sparked by upbeat figures on the United States labour market ahead of the release of crucial jobs data later in the day.

The euro held up after enjoying a rally on Thursday in response to the European Central Bank’s decision to keep interest rates unchanged, despite fears of deflation in the eurozone.

Tokyo climbed 2.17 per cent, or 307.29 points, to 14,462.41, Sydney closed 0.68 per cent, or 35.1 points, higher at 5,166.5 and Seoul added 0.77 per cent, or 14.61 points, to close at 1,922.50.

Shanghai – on its first day open after a week-long Lunar New Year holiday – closed up 0.56 per cent, or 11.42 points, at 2,044.50.

At the end of a week that started with turmoil in global markets, traders were a lot calmer hours before the US Labour Department reports its non-farm payrolls data for January.

“The upcoming jobs data is viewed as critical for markets, which are pricing in further growth. So any hints that they might be good are positive for sentiment,” said Mutsumi Kagawa, senior strategist at Tokai Tokyo Research Centre.

HONGKONG: SHARES climbed one per cent yesterday, in line with a regional rally, as investors followed a strong lead from Wall Street hours before the release of crucial United States jobs data.
The Hang Seng Index added 213.72 points to end at 21,636.85 on a turnover of HK$62.45 billion.
Chinese Internet giant Tencent gained 3.15 per cent to HK$524.5 and O&G giant CNOOC added 3.95 per cent to end the day at HK$12.12.
HSBC Holdings added 0.7 per cent to HK$79.3, while insurance giant AIA was up 0.56 per cent to HK$35.65.

SINGAPORE: THE Straits Times Index (STI) ended 24.87 points, or 0.83 per cent, higher at 3,013.14 yesterday.
The FTSE ST Mid Cap Index gained 0.53 per cent while the FTSE ST Small Cap Index rose 0.41 per cent.
Of the actives, SingTel advanced 0.86 per cent, DBS jumped 0.31 per cent, OCBC rose 0.43 per cent and Keppel Corp added 0.68 per cent.
The outperforming sector, FTSE ST Consumer Goods, appreciated by 1.22 per cent.
Of its two biggest stocks, Wilmar International added 1.57 per cent, while Thai Beverage was unchanged.

KUALA LUMPUR: SHARES on Bursa Malaysia ended above the 1,800-point level, lifted by gains in select heavyweights.
The FTSE Bursa Malaysia KLCI (FBM KLCI) finished the day 10.69 points better at 1,808.59 points, after hovering between 1,797.84 and 1,812.18.
Among heavyweights, Tenaga jumped 30 sen to RM11.74, DiGi rose 12 sen to RM4.97, Maybank gained 10 sen to RM9.80 and CIMB added nine sen to RM7.01.
A dealer said the stronger performance was in line with regional peers, prompted by signs that the United States non-farm payrolls report could put some global growth concerns to rest.
Market breadth was positive as gainers thumped losers 542 to 256, while 324 counters were unchanged, 471 untraded and 18 others suspended.
Volume rose to 1.86 billion shares worth RM2.2 billion from 1.83 billion shares worth RM2.2 billion recorded on Thursday.
On the scoreboard, the Finance Index soared 97.66 points to 16,567.09 points, the Plantation Index rose 13.96 points to 8,397.68 points and the Industrial Index increased 17.72 points to 3,080.01 points.
Main Market volume dropped to 1.27 billion units worth RM2.07 billion from 1.36 billion units worth RM2.07 billion on Thursday.
Meanwhile, FBM KLCI futures contract on Bursa Malaysia Derivatives closed higher, tracking the cash market’s performance.
Spot month February 2014 rose 16.5 points to 1,810 points, both March 2014 and June 2014 soared 15 points each to 1,809 points and 1,806 points, respectively, while September 2014 chalked up 12 points to 1,801 points.
Turnover rose to 6,689 lots from Thursday’s 6,331 lots.

In other markets:

* Jakarta rose 0.95 per cent to 4,466.67. Indocement Tunggal Prakarsa gained 1.30 per cent to 21,500 rupiah, while Hero Supermarket rose 1.79 per cent to 2,840 rupiah.

* Manila added 1.63 per cent to 6,011.14. Philippine Long Distance Telephone Co gained 1.69 per cent to 2,648 pesos while Alliance Global Group Inc jumped 0.19 per cent to 27.05 pesos.

* Taipei added 0.92 per cent to 8,387.35. Taiwan Semiconductor Manufacturing Co rose 1.96 per cent at T$104.0 while Hon Hai fell 0.61 per cent to T$81.4.

* Wellington jumped 0.68 per cent, or 32.85 points, to 4,840.79. Chorus advanced 7.9 per cent to NZ$1.49 and Contact Energy was steady at NZ$5.25.

* Bangkok rose 0.10 per cent to 1,296.49. Coal producer Banpu added 0.93 per cent to 27.25 baht, and PTT Pcl rose four per cent to 286 baht.

* Mumbai rose 0.32 per cent to 20,376.56. Tata Steel gained 6.39 per cent to 384.45 rupees while Larsen & Toubro Finance Holdings climbed seven per cent to 74.15 rupees.

VIETNAM: Vietnamese stocks extended the loss for second straight day as investors cashed in for luck in new year and taking profit rose after hefty gain in Jan.
The benchmark VN Index fell 4.92 points or 0.89% to 549.76. Volume rose 40% to 125 million shares worth of VND2.375 trillion. Put-through trading contributed 5.5 million shares worth of VND543.4 billion.
We saw 1.94 million KBC shares changed hands at the ceiling level of VND64,000 each, and 2.85 million VNM shares changed hands at the ceiling level of VND149,000 each.
The market breadth turned negative with 94 gainers, 125 losers and 67 unchanged.
The VN30 lost 1.88 points or 0.3% to 622.82. Among 30 constituents, 7 gained, 19 fell, 4 stood still.
Market opened in the green with 2.7 million shares changed hands. Trading was faster as both buyers and sellers were active. The market stayed in the positive area for a while before sellers became more aggressive and brought the market lower in an unspectacular fashion.
The top market caps were weak, GAS, MSN, VCB, VIC and BID lost, only VNM stood still.
Banking shares were mixed VCB, STB, CTG lost, EIB gained, MBB stood still.
Blue chips were mixed also ; BVH, CSM, DHG, DRC, FPT, GMD HPG, PPC, REE lost while  PVD, SJS, HSG, HAG, EIB, DPM, DPR gained.
On the Hanoi Stock Exchange, the HNX lost 0.26 point or 0.35% to 74.78. Trading volume rose 102% to 80.3 million shares worth VND621.8 billion.
The breadth was negative 85 gainers, 116 losers, 62 unchanged and the rest untraded.
The HNX30 lost 0.31 point or 0.21% to 146.53.

EUROPE: Europe’s main stock markets steadied yesterday as investors awaited the key non-farm payrolls data in the United States.
In late morning deals, London’s benchmark FTSE 100 index added 0.04 per cent to 6,560.81 points and Frankfurt’s DAX 30 rose 0.12 per cent to 9,267.23 points. However, Paris’ CAC 40 index dropped a marginal 0.03 per cent to 4,186.76 points compared with the close on Thursday.
“The markets have settled,” said CMC Markets UK analyst Michael Hewson.
“There is little likelihood of anyone being prepared to show their hand on market direction (and) we expect a general sideways move as we await the US non-farms data,” he added.
In the meantime, the pan-European FTSEurofirst 300 index was up 0.3 per cent to 1,293.85 at 1111GMT, building on the previous session’s 1.5 per cent rally, which was the biggest daily gain since mid-December.

AMERICA: The U.S. stock market is ending the week with a modest gain after investors found bright spots in the government’s monthly employment survey.

Higher earnings from several U.S. companies including Expedia also brought buyers to the market.

The back-to-back increases Thursday and Friday were enough to erase a steep loss from Monday.

The Dow Jones industrial average rose 165 points, or 1.1 percent, to 15,794.

The Standard & Poor’s 500 rose 23 points, or 1.3 percent, to 1,797. Health care and industrial stocks rose the most.

The Nasdaq composite increased 68 points, or 1.7 percent, to 4,125.

Expedia led the gains in the S&P 500 index. Expedia surged 14 percent after reporting that its profit and revenue jumped as hotel bookings increased.

Benchmark Currency Rates

USD EUR JPY GBP CHF CAD AUD HKD

USD

1.3635 0.0098 1.6411 1.1136 0.9065 0.8959 0.1289

EUR

0.7335 0.0072 1.2036 0.8166 0.6648 0.6570 0.0945

JPY

102.3000 139.5300 167.9370 113.9180 92.7390 91.6530 13.1884

GBP

0.6093 0.8309 0.0060 0.6785 0.5524 0.5459 0.0785

CHF

0.8981 1.2243 0.0088 1.4735 0.8140 0.8047 0.1158

CAD

1.1032 1.5043 0.0108 1.8106 1.2285 0.9884 0.1422

AUD

1.1163 1.5220 0.0109 1.8318 1.2431 1.0120 0.1439

HKD

7.7586 10.5795 0.0758 12.7307 8.6393 7.0329 6.9508

Source: Bloomberg

 


Category: FinanceAsia

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