INGOT Brokers AU | Asian market report (2017-08-11)

Asian market report (2017-08-11)

Asian equity markets ended Friday’s session in red territories for the second consecutive session, as rising geopolitical tensions in the Korean Peninsula weighed on equities markets in Asian.

Equities in Asian markets found pressure after Pyongyang responded to U.N sanctions by threating to fire missiles at the Pacific island of Guam.,   Geopolitical uncertainty in Korean Peninsula continues to rise, as North Korea’s persistence on testing its intercontinental ballistic missiles saw an adverse response from the international community after the United Nations unanimously imposed new sanctions on North Korea.

In Mainland China, Equities finished the session on in negative territories for the second consecutive trading session, Shanghai’s leading benchmark Shanghai Composite Tumbled 1.63 percent, or 53.21 points to close at 3,208.54, and Shenzhen Composite dropped 1.60 percent, or 30.00 points, to settle at 1,842.60 at the close. Meanwhile, Hong Kong primary benchmark Hang Seng Index tumbled by 2.04 percent, or 560.49 points to trade at 26,883.51 after hours.

Regarding Economic data, Inflation data in came in mixed after CPI 0.1 percent and PPI rose by 5.5 percent in line with expectation.  

Elsewhere in Japan, equities markets were closed on Friday on national holiday Mountain day.

Elsewhere in Australia, Australian equities traded lower on Friday, the Aussie index ASX 200 fell by 1.18 percent to settle at 5,693.14 at the close.

Looking at individual stocks, Virgin airline reported full fiscal year loss of 3.7 million Australian dollars in underlying profit before tax.

On the other hand, Australian baby food maker Bellamy’s surged by 7.80 percent after it announced that China had lifted the suspension of its factory’s license.

 

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