INGOT Brokers AU | Asian market report (2017-07-10)

Asian market report (2017-07-10)


Asian stock markets started the week in the green supported by positive U.S jobs data which came above expectations and the good Chinese inflation data for June.

Chinese inflation data came in line with expectations with china consumer price index (CPI) rising by 1.5 percent on year and the producer price index (PPI) gaining 5.5 percent. The Hang Seng Index was up 0.74 percent, but markets on the mainland traded lower. The Shanghai Composite was off by 0.19 percent, or 6.1052 points, to finish at 3,211.8515 and the Shenzhen Composite declined 0.665 percent, or 12.7644 points, to end at 1,905.3680.

In currencies, the dollar firmed against a basket of currencies, with the dollar index trading at 96.040. Meanwhile, oil prices edged up. Brent crude futures were higher by 0.34 percent at $46.87 a barrel. U.S. West Texas Intermediate futures traded higher by 0.32 percent at $44.37.


Japan Stock Exchange:

Japan stock markets started the week in positive territory with Nikkei 225 gaining 0.76 percent to close at 20,080.98 after closing at a three week low in Friday session.

As for the economic data, Japan core machinery orders in May dropped 3.6 percent on month, missing the 1.7 percent rise forecast.

The best performers of the session on the Nikkei 225 were Mitsui O.S.K. Lines, Ltd. which rose 5.32% or 18.0 points to trade at 356.5 at the close. Meanwhile, Taiyo Yuden Co., Ltd. added 4.10% or 72.0 points to end at 1827.0 and Tosoh Corp. was up 3.48% or 41.0 points to 1219.0 in late trade.

The worst performers of the session were KDDI Corp. which fell 2.69% or 80.5 points to trade at 2909.0 at the close. Toshiba Corp. declined 2.30% or 6.0 points to end at 255.2 and Dentsu Inc. was down 2.10% or 110.0 points to 5130.0.Overall falling stocks outnumbered the declining stocks by 151 to 68 and 6 closed flat in Friday session.

USD/JPY was up 0.25% to 114.20, while EUR/JPY rose 0.27% to 130.25.

Australia Stock Exchange:

Australia stock market ended Monday’s trading session in the green supported by the gains in the IT, Telecoms Services and Consumer Discretionary sectors. Australian benchmark S&P ASX 200 advanced 0.37 percent to close the session at 5,724.4.

Meanwhile In the currency markets, The Australian dollar, which is sensitive to Chinese economic data, was largely unaffected by the headlines. The Aussie dollar gained later in the session to trade at $0.7603, off a high of $0.7614 hit earlier in the session.

The best performers of the session on the S&P/ASX 200 were Sims Metal Management Ltd which rose 4.77% or 0.735 points to trade at 16.155 at the close. Meanwhile, Tassal Group Ltd added 3.53% or 0.130 points to end at 3.810 and Qbe Insurance Group Ltd was up 3.01% or 0.360 points to 12.310 in late trade.

The worst performers of the session were South32 Ltd which fell 3.38% or 0.095 points to trade at 2.715 at the close. Mantra Group Ltd declined 2.46% or 0.075 points to end at 2.975 and Vocus Group Ltd was down 2.27% or 0.080 points to 3.450.

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