INGOT Brokers AU | Asian market report (2017-06-22)

Asian market report (2017-06-22)

Asian shares ended Thursday’s session in mixed territories. As indices in China and Japan settled lower, while markets in South Korea and Australia traded higher at the close.  

In China, equity markets ended the session in the red as Hang Seng index, shanghai composite, and Shenzhen index all closed lower. The Chinese markets were led lower by the drop in oil prices to its ten month lows, equities in china closed were lower for the second consecutive session despite China-A listed finally getting accepted in Morgan Stanley Capital International or MSCI emerging market index thus paving the way for huge amounts of liquidity in the Chinese market from foreign investors.   

Hong Kong’s Hang Seng was down 0.08 percent to trade at 25,674.53 the index was weighed down by Energy sector. Meanwhile, Shanghai Composite was led lower by a drop in healthcare sector, the index declined by 0.29 percent to finish at 3,147.12.

Elsewhere, South Korean Benchmark Kospi surged by 0.54 percent  to trade at 2,370.31 amid South Korean won rebounding from 2-month low versus the dollar, the won saw support from increased demand by exporters and a weakening in the dollar.



The Japanese Stock Exchange:

Japanese stocks finished the session in red territory. The index was weighed down by profit taking and a strong yen that influenced market sentiment. The main headlines in Japan in Thursday session are reports the Takata Corp is planning on filing for bankruptcy, the air bag producing company has been struggling to keep its head above water as its fell by 54.9 percent closing down past its daily limit every day of this week.

On the other hand, Toshiba Corp edged lower after report that firm is about to close a deal worth 18 billion dollars by next week, the deal is for the sale of its chip business. Moreover, analysts believe that Toshiba has chosen Bain Capital and Japanese government investors as the preferred bidder for the sale of its Chip business.      

Nikkei 225 ended Thursday’s session in the red, due to losses in Utilities, Energy and Consumer Non-Cyclicals Sectors pushed shares downwards.

Japans benchmarks Nikkei 225 fell by a margin of 0.14 percent to end the session at 20,110.51.

The benchmark’s best performers on Thursday’s session were Toho Zinc Co Ltd whom gained 2.91 percent to end the session at 424.0. Followed by DeNA Co Ltd that rose 2.51 percent to trade at 2,535.0 at the close. Meanwhile, Alps Electric Co Ltd added 2.43 percent to close at 3,160.0.

On the other hand, the worst performers were Chiyoda Corp that saw a drop of 4.27 percent to close the session at 627.0, and Trailed by Yokogawa Electric Corp which fell by 3.40 percent to trade at 1,849.0 and SOMPO Holdings Inc declined 3.38 percent to end at 4,259.0.

Overall falling stocks outnumbered the declining stocks by 136 to 84 and 136 closed flat in Thursday session.

USD/JPY fell by 0.1 percent to trade at 111.26, and EUR/JPY was down 0.22 percent to trade at 124.09. 


Australia Stock Exchange:

The Australian stocked rebounded from the biggest sell off in the year, the market gained some of its lost ground in the previous session after the Reserve Bank of Australia June minutes said that it concerned regarding household dent and wage growth thus trigging the biggest sell-off of this year. However, the market gained back some of its losses on Thursdays session as equities saw support from the rise in the bank sector as all of Australia’s “Big Four” banks gain more than 1 percent, and also supporting equities were gain in iron ore and gold that led mining sector higher.  

In Australia, Shares closed higher on Thursday, driven up by gains in Industrials, Financials and Technology.

The Aussie Benchmark ASX 200 gained 0.71 percent to end Thursday’s session at 5,705.952.

The best performers of the session on AXS 200 were Saracen Mineral Holdings Ltd which was up by a margin of 5.36 percent to end the session at 1.180. While, St Barbara Ltd appreciated by 4.68 percent to trade 2.910 at the close, followed by Metcash Ltd which rose 4.33 percent to end at 2.170.

Meanwhile, the Worst performers in the session were DEXUS Property Group whom dropped 5.02 percent to end at 10.030. Meanwhile, Super Retail Group Ltd tumbled 4.35 percent to close at 7.700 and Domino's Pizza Enterprises Ltd dropped 3.63 percent to end the session at 52.600.

The Australian Stock Exchange saw the number of rising stocks outweigh the number of falling stocks by 125 to 59, while 16 remained flat.

The AUD/USD dropped 0.13 percent to trade at 0.7540.


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