INGOT Brokers AU | Asian market report (2017-07-12)

Asian market report (2017-07-12)

•          Overview:

Asian equities were mixed on Wednesday, as the Japanese and Australian stocks were weaker due to the rising of their currencies against USD and as investors are waiting for Federal Reserve Chair Janet Yellen’s semi-annual Testimony on monetary policy.

JPY and AUD rose against USD as the USD pressured by the news that during the 2016’s U.S election, Donald Trump Jr accepted to meet a Russian Lawyer, and this lawyer might have a damaging information about Hillary Clinton who was his competitor in U.S election at that time.

Elsewhere in South Korea, the Kospi fell by 0.0.18 percent, to close at 2391.77, moreover equity markets in China ended today’s session in mixed territories with Hong Kong's Hang Seng Index advanced .64 percent, The Shanghai Composite slipped 0.16 percent, or 5.0122 points, to close at 3,198.025, and the Shenzhen Composite declined 0.114 percent, or 2.1493 points, to finish at 1,889.447.

Australian coal were lower as the foreign buyers are looking for reduce their consumption of coal, while Australia decided to build its biggest foreign export thermal coal mine. Chief economist office in Australia expected that the market will grow by 8.7% till 2022, while it expects that the global export goal market at 2.5% till 2022.

Moreover, in line with expectation Bank of Japan reported that the monthly Producer Price Index of June remained flat, and the annual Producer price index rose at by 2.1% higher than expected by 0.1%.

•          Japan Stock Exchange:

Japan stock markets ended Wednesday’s trading session in the red after the safe-haven Yen rose against USD. The Nikkei 225 fell by 0.33 percent, or 67.06 points, to close at 20,128.42.

The best performers of the session on the Nikkei 225 were SUMCO Corp.  Which rose 3.82% or 67.0 points to trade at 1820 at the close. Meanwhile, Chugai Pharmaceutical Co., Ltd. added 2.87% or 125 points to end at 4475.00 and Tokyo Electric Power Co. was up 1.95% or 9.00 points to 470.5.0 in late trade.

The worst performers of the session were Sapporo Holdings Ltd. which fell 3.21% or 100.0 points to trade at 3020.00 at the close. Tokyo Dome Corp. declined 2.40% or 25.0 points to end at 1017.00 and Meidensha Corp. was down 2.25% or 9 points to 391.00.

•          Australia Stock Exchange:

Australia equities were weaker on Wednesday pressured by the losses in the Healthcare, A-REITS and Financials sectors. Australian benchmark S&P ASX 200 advanced 0.97 percent to close the session at 5,673.83.

Meanwhile In the currency markets, The Australian dollar edged up following the rise in iron ore prices overnight to above $60 a ton. The Aussie dollar traded at $0.7623.

The best performers of the session on the S&P/ASX 200 were Resolute Mining Ltd which rose 3.17% or 0.035 points to trade at 1.140 at the close. Meanwhile, Newcrest Mining Ltd added 2.12% or 0.420 points to end at 20.270 and St Barbara Ltd was up 1.81% or 0.050 points to 2.820 in late trade.

The worst performers of the session were Galaxy Resources Ltd which fell 3.67% or 0.080 points to trade at 2.050 at the close. Flexigroup Ltd declined 3.53% or 0.65 points to end at 1.775 and Chorus Ltd was down 3.29% or 0.140 points to 4.120.

 

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