INGOT Brokers AU | Asian market report (2017-08-16)

Asian market report (2017-08-16)

Asian equities were mixed on Wednesday’s session as NKD225, Shanghai composite index ended the session lower while Hang Sang and ASX200 were higher.

Investors are focusing on U.S dollar and equities as the U.S retail sales data came stronger than expected, this raises the expectation of Fed to hike the interest rate by the end of the current year. U.S retail sales increased by 0.6% during the Month of July its highest gains since seven months.

Also, North Korea seceded to delay its decision to attack the U.S Pacific Territory of Guam by a missile.

Elsewhere in China, IMF stated that the average growth for the period of 2017 to 2021 is 6.4%, also the added that the outlook came alongside with additional risk as the debt might be increased. However, this outlook supported China to spend efforts to decrease its debt. Shanghai Composite index fell by 0.14% to trade at 2348.26.

Korean and Hong Kong’s equities ended the session in the green territory as the Kospi and Hang Sang indices rose by 0.86% and 0.60% respectively. Kospi Index rose at 2348.26 while Hong Sang edged up at 27,409.07.

Meanwhile, Japanese stocks ended today’s session in negative territory as the NKD225 dropped by 0.12% at 19,729.28 due to the losses which generated by Consumer Cyclicals and Financials sectors.

On Monday, the official data in Japan stated an unexpected growth in the economy as the annual rate of the economy grew by 4.0 % in June, while the expectations increased by 2.5%.

Looking at individual stocks, Japan airlines edged up by 1.6% as its rating improved from “Natural” to “buy”, also they reported that they are expecting a milder decrease than expected as the cargo revenue and the revenues from domestic passengers would increase. However, Mazda’s share fell by 0.3% and Toyota’s stock declined by 1.3%.

 

Australian equities ended the session in the green as the shares supported by the gains which generated by Energy and telecoms services sectors, S&P/ASX 200 was up by 0.48% to settle up at 5,785.10.

ABS reported on Wednesday the Wage price index from April to June came in line with expectation, where its rose by 0.5%. However, it came lower than the previous quarter by 0.1%. This data contributed to decline in the inflation, as the target inflation of Australia is between 2-3%.

Among the big Four Banks, CBA’s stock rose by 1.1%, NAB gained 1.4% at 31.32, Westpac’s share added 1.7% at 32.74, and ANZ was up by 2% to finish at 30.42.

In Mining Sector, BHB Hilton’s share surged by 0.2% at 25.67, while Rio Tinto added 0.1% to trade at 62.75.

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