Asia: Mostly up ahead of US jobs report

07-Feb-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 7:59 AM Print This Post

Asian markets mostly rose on bargain-buying yesterday Thursday February 6 but sentiment remains weak following a recent global sell-off, with investors sidelined before the release of United States government jobs data.

Wall Street provided a tepid lead and the dollar was slightly lower against the yen after a private US jobs report proved inconclusive.

Tokyo, which spent most of the day in positive territory, surrendered in late trade to close down 0.18 per cent, or 25.26 points, at 14,155.12.

However, Sydney rose 1.21 per cent, or 61.1 points, to 5,131.4 and Seoul added 0.88 per cent, or 16.57 points, to 1,907.89.

Shanghai and Wellington were closed for public holidays.

The turmoil of the past week has subsided briefly before the non-farm payrolls figure due today, which will give traders a better handle on the state of the US economy.

World markets were sent into a tailspin last week on fears for the global economy, fuelled by downbeat US and Chinese manufacturing data as well as the US Federal Reserve’s decision to further reduce its stimulus programme.

HONGKONG: SHARES rose 0.72 per cent yesterday, snapping a three-session losing streak, as investors await the release of United States jobs data for clues about its economy.
The Hang Seng Index added 153.75 points to end at 21,423.13 on turnover of HK$58.37 billion.
Sands China surged 10.89 per cent to HK$60.6 and Galaxy Entertainment rose 7.32 per cent to HK$71.1.
HSBC added 0.13 per cent to HK$78.75, China Mobile gained 0.07 per cent to HK$72.5 and CNOOC advanced 0.69 per cent to HK$11.66.
Meanwhile, Cathay Pacific Airways was flat at HK$15.30.

SINGAPORE: THE Straits Times Index (STI) ended 28.18 points, or 0.95 per cent, higher at 2,988.27 yesterday.
The FTSE ST Mid Cap Index gained 0.59 per cent while the FTSE ST Small Cap Index appreciated by 0.22 per cent.
Of the active stocks, SingTel advanced 1.16 per cent, DBS jumped 0.80 per cent, UOB went up 0.72 per cent, OCBC added 1.76 per cent and GLP gained 0.73 per cent.
The outperforming sector, FTSE ST Technology, added 2.40 per cent.
Of its biggest stocks, Silverlake Axis rose 2.35 per cent and STATS ChipPAC went up 1.67 per cent.

KUALA LUMPUR: BUYING interest in blue chips and index-linked counters helped lift shares on Bursa Malaysia yesterday, despite opening lower in early session.
The FTSE Bursa Malaysia KLCI (FBM KLCI) finished the day at 1,797.9 points, up 12.02 points, after fluctuating between 1,783.68 and 1,799.45 throughout the day.
The barometer index opened 0.96 of a point lower at 1,784.92 and then lost further ground as trading momentum was weighed down by the bearish sentiment in the United States.
The Finance Index soared 73.1 points to 16,469.43, the Plantation Index rose 51.54 points to 8,383.72 and the Industrial Index increased by 37.12 points to 3,062.29.
The FBM Emas Index chalked up 73.01 points to 12,408.69 and the FBM ACE gained 31.51 points to 6,048.18.
Market breadth was positive as gainers thumped losers 498 to 251, while 310 counters were unchanged, 534 untraded and 17 others suspended.
Volume rose to 1.83 billion shares worth RM2.2 billion from 1.55 billion shares valued at RM1.63 billion on Wednesday.
Among the actives, Sumatec Resources earned two sen to 32 sen and Iris Corp inched up half-a-sen to 45 sen. Heavyweights Maybank rose seven sen to RM9.70 and TNB increased eight sen to RM11.44.
Meanwhile, the FBM KLCI futures contracts on Bursa Malaysia Derivatives closed firmer, tracking the positive performance in the underlying cash market.
Spot month February 2014 rose 15.5 points to 1,793.5, March 2014 and June 2014 soared 16.5 points each to 1,794 and 1,791, respectively, while September 2014 chalked up 16 points to 1,789.
Turnover shed to 6,331 lots from 6,376 lots while open interest widened to 38,482 contracts from 37,331 contracts.

In other markets:

* Taipei rose 0.56 per cent, or 46.53 points, to 8,311.01. Taiwan Semiconductor Manufacturing Co closed up 1.49 per cent at T$102.0 while Hon Hai Precision added 0.74 per cent to T$81.9.

* Manila edged up 0.10 per cent, or 6.18 points, to 5,914.59. Alliance Global added 1.31 per cent to 27 pesos while SM Prime Holdings gained 0.14 per cent to 14.56 pesos.

* Jakarta closed up 0.92 per cent, or 40.40 points, at 4,424.71. Palmoil producer Astra Agro Lestari advanced 2.80 per cent to 22,000 rupiah, while cigarette producer Gudang Garam gained 2.31 per cent to 44,350 rupiah.

* Bangkok added 1.17 per cent to 1,295.24. Coal producer Banpu gained 1.89 per cent to 27 baht, while Siam Cement rose 2.97 per cent to 416 baht.

* Mumbai rose 0.25 per cent, or 49.71 points, to 20,310.74. Private carrier Jet Airways climbed 10.93 per cent to 234.45 rupees, while mining major Coal India added 4.59 per cent to 266.80 rupees.

VIETNAM: Vietnamese stocks opened the New Year in the red as heavy weights lost.
The benchmark VN Index fell 1.84 points or 0.33% to 554.68. Volume rose 32% to 88.9 million shares worth of VND1.5 trillion. Put-through trading contributed 1.4 million shares worth of VND123 billion.
We saw 0.64 million VNM shares changed hands at the ceiling level of VND643,430 each, and 0.2 million HAG shares changed hands at VND22,000 each.
The market breadth, however, was positive with 152 gainers, 88 losers and 43 unchanged.
The VN30 bucked trend to gained 1.61 points or 0.26% to 626.31. Among 30 constituents, 15 gained, 14 fell, 1 stood still.
Market opened in the red with 2.6 million shares changed hands. Trading slowed after long Tet holiday and investors were skeptical to make big move. The market was in the negative ground in the morning session, then the buying forces came in the afternoon, briefly sent the index to the positive area. However, sellers were still active and aggressive, and the weakness of large caps sent the index down negative territory at the close despite wide market breadth.
The top 5 market caps were weak, GAS stood still while the rest 4:  MSN, VCB, VNM  and BID lost.
Banking shares were mixed, VCB, MBB, EIB, CTG lost, STB gained.
Blue chips were strong, BVH, CSM, DHG, DRC, GMD HAG, SSI, HPG all gained.
High beta stocks were firms, FLC limited up, DXG, KMR, MCG. PTL, PXL were all strong gainers.
On the Hanoi Stock Exchange, the HNX bucked trend to gain 0.83 point or 1.11% to 75.05. Trading volume rose 24% to 39.8 million shares worth VND362.6 billion.
The breadth was positive with 158 gainers, 49 losers, 55 unchanged and the rest untraded.
The HNX30 gained 1.85 points or 1.28% to 146.84.

EUROPE: Europe’s main stock markets rose solidly yesterday as traders awaited the outcomes of monetary policy meetings being held by the European Central Bank (ECB) and Bank of England (BoE).
Ahead of decisions, traders pored over earnings results, including from Daimler and Vodafone.
London’s benchmark FTSE 100 index rose 0.83 per cent to 6,511.70 points. Frankfurt’s DAX 30 added 1.16 per cent to 9,222.27 points and Paris’ CAC 40 index grew 1.14 per cent to stand at 4,164.70, compared with Wednesday’s closing levels.
The BoE was to announce the outcome of its latest monthly meeting yesterday, followed by a statement and press conference by the ECB on its own gathering.
“In a market where economic data is the fundamental driver of direction we can expect some volatility if any unexpected decisions are announced,” said dealer Farhan Ahmad at brokerage Tradenext.

AMERICA: The stock market had its best day this year, nearly erasing the steep losses from early this week.

The gains came after encouraging news on the U.S. job market and Disney and other companies reported solid earnings.

The Dow Jones industrial average jumped 188 points, or 1.2 percent, to close at 15,628 Thursday.

The Standard & Poor’s 500 index rose 21 points, also 1.2 percent, to 1,773. It was the best gain for both indexes since Dec. 18. Both are still down about half a percent for the week following a steep drop on Monday.

The Nasdaq composite gained 45 points, or 1.2 percent, to 4,057.

Disney jumped 5 percent after the media company reported earnings that beat analysts’ estimates, thanks partly to its box-office hit “Frozen.”

Benchmark Currency Rates

USD EUR JPY GBP CHF CAD AUD HKD

USD

1.3589 0.0098 1.6319 1.1101 0.9035 0.8966 0.1289

EUR

0.7359 0.0072 1.2011 0.8170 0.6649 0.6595 0.0948

JPY

102.0300 138.6500 166.5290 113.2590 92.1790 91.4470 13.1501

GBP

0.6127 0.8325 0.0060 0.6802 0.5536 0.5493 0.0790

CHF

0.9007 1.2241 0.0088 1.4702 0.8140 0.8075 0.1161

CAD

1.1069 1.5040 0.0109 1.8065 1.2287 0.9922 0.1427

AUD

1.1158 1.5160 0.0109 1.8210 1.2388 1.0080 0.1438

HKD

7.7591 10.5437 0.0761 12.6638 8.6140 7.0103 6.9563

Source: Bloomberg

 


Category: FinanceAsia

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