Asia Roundup: Markets slip after week’s rallies

14-Feb-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 7:56 AM Print This Post

Asian shares fell on profit-taking yesterday Thursday February 13, 2014 following four strong sessions as a rally on Wall Street fizzled out, but Sydney pared earlier losses caused by data showing Australian unemployment at a 10-year high.

With few catalysts to drive trade, investors took a breather before the release of fresh data from the United States and China.

Tokyo fell 1.79 per cent, or 265.32 points, to end at 14,534.74 as a stronger yen hit exporters, while Sydney was flat, dipping two points to 5,308.1. Seoul gave up 0.46 per cent, or 8.88 points, to end at 1,926.96. Shanghai was down 0.55 per cent, or 11.56 points, at 2,098.40.

Global markets have so far enjoyed a positive week after a tumultuous time caused by the US Federal Reserve’s decision to reduce its stimulus programme for a second time in two months.

Sydney shares were hit after the Australian Bureau of Statistics said the jobless rate rose to six per cent in January – its worst level since July 2003 – from 5.8 per cent in December.

The rise comes as the government struggles to manage a bumpy economic transition from a decade-long Asia-led mining investment boom.

HONGKONG: SHARES fell 0.54 per cent on profit-taking yesterday following two strong rallies as well as a weak lead from Wall Street.
The benchmark Hang Seng Index eased 120.26 points to 22,165.53.
HSBC rose 0.43 per cent to HK$81.35, Tencent added 0.37 per cent to HK$540, China Mobile fell 1.22 per cent to HK$73.05 and ICBC slipped 1.24 per cent to HK$4.76.
“The upward momentum is waning following recent gains and the market may enter into a consolidation period,” Shenyin Wanguo Securities analyst Yan Xiaoou told Dow Jones Newswires.

SINGAPORE: THE Straits Times Index gained 4.45 points, or 0.15 per cent, to 3039.9.
The FTSE ST Mid Cap Index declined 0.01 per cent while the FTSE ST Small Cap Index declined 0.19 per cent yesterday.
Among the top active stocks, SingTel added 1.71 per cent, DBS rose 0.73 per cent, Keppel Corp fell 1.33 per cent, OCBC dropped 0.53 per cent and Wilmar was unchanged.
Of the outperforming sectors, the FTSE ST Telecommunications Index added 1.52 per cent.
Of the two biggest stocks, SingTel added 1.71 per cent and StarHub fell 0.24 per cent.

KUALA LUMPUR: THE FTSE Bursa Malaysia KLCI (FBM KLCI) ended weaker yesterday after six days of gains, with losses mostly seen in plantation, consumer and finance counters, dealers said. The key index shed 8.49 points to close at 1,817.15 points.
Plantation counter Kuala Lumpur Kepong was the top loser, slipping 70 sen to RM23.52, while PPB Group fell 32 sen to RM15.50. British American Tobacco fell 30 sen to RM60.20 and Hong Leong Capital dipped 22 sen to RM10.20.
The Finance Index dipped 64.29 points to 16,564.13, the Plantation Index erased 72.04 points to 8,529.55 but the Industrial Index rose 2.75 points to 3,106.52.
The FBM Emas Index was 51.42 points lower at 12,559.08, FBMT100 Index lost 54.16 points to 12,251.78, FBM 70 fell 48.82 points 13,797.74 and the FBM ACE slid 28.76 points to 6,228.35.
Losers thumped gainers 484 to 318, while 301 counters were unchanged, 504 untraded and 19 others suspended.
Among active counters, PDZ Holdings and Iris Corp shed one sen each to 14.5 sen and 49 sen, respectively, and Minetech fell 1.5 sen to 28.5 sen.
Of the heavyweights, Maybank lost four sen to RM9.76 and CIMB dropped 10 sen to RM7.09, while TNB and Axiata were flat at RM11.86 and RM6.55, respectively.
Meanwhile, FBM KLCI futures contracts on Bursa Malaysia Derivatives also closed lower, tracking the weaker cash market.
Spot month February 2014 and June 2014 fell 17.5 points each to 1,8205.5 and 1,803.5, respectively, March 2014 lost 19 points to 1,805.5 and September 2014 fell 13 points to 1,806.
Turnover rose to 6,617 lots from Wednesday’s 4,569 lots while open interest advanced to 37,988 contracts from 35,944 previously.

In other markets:

* Bangkok slipped 0.17 per cent, or 2.19 points, to 1,311.87. Charoen Pokphand Foods dropped 4.59 per cent to 26 baht, while telecoms company True Corporation fell 2.70 per cent to 7.20 baht.

* Jakarta edged down 0.10 per cent, or 4.63 points, to 4,491.66. Bank Negara Indonesia rose 0.12 per cent to 4,315 rupiah, while state miner Aneka Tambang fell 1.93 per cent to 1,015 rupiah.

* Taipei fell 0.51 per cent, or 43.17 points, to 8,467.70. TSMC was unchanged at T$105, while MediaTek dropped 1.15 per cent to T$429.

* Wellington was flat, edging up 5.56 points to 4,873.53. Air New Zealand added 0.29 per cent to NZ$1.70 and Telecom rose 1.26 per cent to NZ$2.42.

* Manila closed 0.17 per cent lower, dipping 10.59 points to 6,101.72. Metropolitan Bank and Trust closed 0.56 per cent lower at 79.55 pesos while SM Prime Holdings fell 2.26 per cent to 14.70 pesos.

* Mumbai fell 1.25 per cent, or 255.14 points, to 20,193.35.

VIETNAM: Vietnamese stocks ended higher for a second straight day with rising liquidity, market sentiment is positive.
The benchmark VN Index rose 5.93 points or 1.05% to 570.18. Volume rose 17% to 147.12 million shares worth of VND2.287 trillion. Put-through trading contributed 1.4 million shares worth of VND42.78 billion.
The market breadth was positive with 151 gainers, 69 losers and 78 unchanged.
The VN30 added 3.94 points or 0.62% to 641.73. Among 30 constituents, 17 gained, 9 fell, 4 stood still.
On the Hanoi Stock Exchange, the HNX rose 0.95 point or 1.24% to 77.7. Trading volume rose 28% to 85 million shares worth VND813.1 billion.
The breadth was positive with 135 gainers, 86 losers, 76 unchanged and the rest untraded.
The HNX30 jumped 2.96 points or 1.97% to 153.24.

EUROPE: European stocks fell yesterday as investors reacted to largely disappointing results from a raft of blue-chip companies, dealers said.
London’s FTSE 100 index slid 0.69 per cent to 6,628.91 points in late morning deals, Frankfurt’s DAX 30 sank 0.29 per cent to 9,512.55 points and Paris’ CAC 40 fell 0.37 per cent to 4,289.51.
“Overnight losses in Asian markets sparked by a loss of momentum on Wall Street weighs on European prices… together with a damp set of earnings from leading blue chips,” said analyst Ishaq Siddiqi at trading firm ETX Capital.
The biggest falling stock was food ingredients firm Tate & Lyle, tumbling 14.94 per cent to 669 pence after it issued a shock profits warning.
BNP Paribas stock slid 4.08 per cent to ?58.34 after it reported that net earnings sank by more than a quarter, mostly due to exceptional items.
Commerzbank shares gained 2.95 per cent to ?13.79 after the bank announced a return to annual profits, but warned the environment would remain difficult.

AMERICA: The Dow Jones industrial average rose for the fifth time in six days Thursday after getting a boost from some strong company earnings reports.

Goodyear Tire & Rubber and CBS rose after reporting strong earnings gains. That helped offset weak economic reports on the job market and retail sales.

On Thursday:

The Dow Jones industrial average rose 63.65 points, or 0.4 percent, to 16,027.59.

The Standard & Poor’s 500 index rose 10.57 points, or 0.6 percent, to close at 1,829.83.

The Nasdaq composite gained 39.38 points, or 0.4 percent, to 4,240.67.
For the week so far:

The Dow is up 233.51 points, or 1.5 percent.

The S&P 500 is up 32.81 points, or 1.8 percent.

The Nasdaq has risen 114.81 points, or 2.8 percent.

For the year so far:

The Dow is down 549.07 points, or 3.3 percent.

The S&P 500 is down 18.53 points, or 1 percent.

The Nasdaq is up 64.08 points, or 1.5 percent.

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Benchmark Currency Rates



1.3679 0.0098 1.6653 1.1191 0.9112 0.8993 0.1289


0.7311 0.0072 1.2174 0.8182 0.6662 0.6575 0.0943


102.2800 139.9100 170.3240 114.4140 93.1820 91.9760 13.1865


0.6005 0.8214 0.0059 0.6720 0.5471 0.5400 0.0774


0.8937 1.2224 0.0087 1.4880 0.8142 0.8036 0.1152


1.0974 1.5011 0.0107 1.8274 1.2283 0.9868 0.1415


1.1119 1.5211 0.0109 1.8518 1.2444 1.0133 0.1434


7.7562 10.6087 0.0758 12.9152 8.6791 7.0665 6.9750

Source: Bloomberg


Category: FinanceAsia

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