INGOT Brokers AU | Asian market report (2017-07-13)

Asian market report (2017-07-13)

•          Overview:

Asian equities were ended Thursday session on a positive, bolstered by Fed Chair Janet Yellen’s comments; the Fed chair said on Wednesday that the United States central bank would progress with the smoothing process of its balance sheet this year. Furthermore, Yellen said that the Fed will keep a cautious eye on inflation data and that it was “premature” to conclude if the U.S economy was on its path to the 2 percent inflation target.

Over in South Korea, the country’s main benchmark Kospi index rose by 0.74 percent to trade at 2,409.49 at the close; the index found support from the announcement that it will keep its base rates unchanged at 1.25 percent.

Meanwhile, Hong Kong’s Main index Hang Seng index surged by 1.16 percent to last trade at 26,346.17.

In Mainland China, Equity markets ended the session on mixed notes subsequent the release of Chinese economic data. Shanghai Composite rose by 0.64 to settle at 3,218.16 at the close, While Shenzhen Composite edged higher by 0.04 percent to finish at 1,888.70.

•          Japan Stock Exchange:

Japanese equities closed up on Thursday as a stronger Yen against USD weighed on exporter’s shares. The Nikkei rose slightly by 0.01% or 1.43 points to close at 20,099.81.

The best performers of the session on the Nikkei 225 were Nippon Electric Glass Co., Ltd., Which rose 6.2% or 250.0 points to trade at 4280 at the close, moreover the deal between Nippon Electric Glass Co. and PGG Industries to buy PGG’s assets of its North American fiberglass operations expected to close in the second half 2017 . Meanwhile, Tokyo Electron Ltd. added 3.04% or 425 points to end at 16100.00 and ANA Holdings Inc. was up 2.75% or 10.6 points to 369.5 in late trade.

The worst performers of the session were Toshiba Corp. which fell 4.23% or 10.70 points to trade at 242.20 at the close, as the auditors of the company will not give an opinion on its annual report. Concordia Financial Group Ltd. declined 2.66% or 15.10 points to end at 553.00, and Hokuetsu Kishu Paper Co. was down 2.48% or 21 points to 826.00.

•          Australia Stock Exchange:

Australia equities were higher on Thursday supported by the gains in the Healthcare, Consumer Staples, and IT sectors. Australian benchmark S&P ASX 200 advanced 1.11 percent to close the session at 5736.77.

The best performance of the session on the S&P/ASX 200 were Incite Pivot Ltd which rose 5.00% or 0.170 points to trade at 3.57 at the close after Moody’s Investors increase the issuer rating from Baa3 to Baa2. Meanwhile, BT Investment Management Ltd added 4.99% or 0.535 points to end at 11.265, followed the news that the fund of the company increased by 0.2 billion to 3.2 billion the second quarter of this year and Duluxgroup Ltd was up 4.63% or 0.310 points to 7.010 in late trade.

The worst performers of the session were Galaxy Resources Ltd which fell 2.68%% or 0.055 points to trade at 1.995 at the close.  Alumina Ltd declined 2.34% or 0.048 points to end at 1.982, and Sigma Pharmaceuticals Ltd was down 1.40% or 0.013 points to 0.882.


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The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.