INGOT Brokers Australia | Asian market report (2017-05-16)

Asian market report (2017-05-16)

Overview:

Shares in Asian markets ended Tuesday’s session in the green reaching a two year high supported by the gains in the Wall Street and the rally in the oil prices after the push that came from Saudi Arabia and Russia to extend the supply cuts into 2018.

Moreover, china stock markets continued its rally on Tuesday’s session, Hong Kong’s Hang Seng reached its highest levels since June 2015, and the Shanghai Composite Index ended up 0.7 percent at 3,112.96 after spending most of the day in negative territory. 

   

The Japanese Stock Exchange:

Japanese stocks ended Tuesday’s session higher, due to advances in Real Estate, Paper & Pulp and Food sectors which helped pushing shares upwards.

Japans benchmark Nikkei 225 appreciated by a margin of 0.25 percent to end the session at 19,919.82.

The benchmark’s best performers on Tuesday’s session were Nippon Light Metal Holdings Co. which rose 4.63% or 12.0 points to trade at 271.0 at the close. Meanwhile, Mitsui Mining and Smelting Co added 3.90% or 15.0 points to end at 399.5 and Ajinomoto Co., Inc was up 3.86% or 86.5 points to 2327.0 in late trade.

On the other hand, the worst performers were Toshiba Corp. which fell 12.42% or 32.6 points to trade at 229.8 at the close. The Japan Steel Works, Ltd. declined 7.46% or 133.0 points to end at 1650.0 and Nisshinbo Holdings Inc. was down 5.03% or 59.0 points to 1115.0.

Overall rising stocks outnumbered the declining stocks by 1728 to 1352 and 290 closed flat in Wednesday’s session.

USD/JPY fell by 0.17 percent to trade at 113.59, and EUR/JPY was up 0.43 percent to trade at 125.42. 

   

Australia Stock Exchange:

In Australia, Shares closed in the green on Tuesday, driven by gains in the Industrials, Metals & Mining and Materials sectors.

The Aussie Benchmark ASX 200 gained 0.2 percent to end Tuesday’s session at 5,850.50.

The best performers of the session on the S&P/ASX 200 were Saracen Mineral Holdings Ltd which rose 5.70% or 0.055 points to trade at 1.020 at the close. Meanwhile, Sims Metal Management Ltd added 2.91% or 0.340 points to end at 12.010 and St Barbara Ltd was up 2.88% or 0.080 points to 2.860 in late trade.

Meanwhile, the Worst performers in the session were Sirtex Medical Ltd which fell 4.33% or 0.670 points to trade at 14.820 at the close. Orica Ltd declined 3.68% or 0.710 points to end at 18.570 and National Australia Bank Ltd was down 3.54% or 1.155 points to 31.485.

The Australian Stock Exchange saw the number of rising stocks outweighed the number of falling stocks by 569 to 470, while 399 remained flat.

The AUD/USD gained 0.12 percent to trade at 0.7422.

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