INGOT Brokers AU | Asian market report (2017-08-17)

Asian market report (2017-08-17)

Asian equities were mixed during Thursday’s session as the political tensions between North Korea and United States declined, moreover investors were keeping an eye on the fed minutes meeting.

South Korean equities were in the positive territory as KOSPI rose by 0.57% reaching 2361.67, after the threats between United States and North Korea appeared to back off from last week.

after North Korea leader decided to delay his decision to attack the U.S Pacific territory of Guam, on Wednesday Trump commented that his decision is a “wise”.

Shanghai Composite index rose by 0.68% at 3268.62, while Hong Kong’s equities ended the session lower as Hang Sang index declined by 0.24% reaching 27,344.22.

Elsewhere in China, IMF stated that the average growth for the period of 2017 to 2021 is 6.4%, also they added that the outlook came alongside with additional risk as the debt might be increased. However, this outlook encouraged China to spend efforts to decrease its debt. 

Japanese equities closed today’s session in the red where NKD225 declined by 0.14% at 19,702.63 due to the losses generated by Banking, Financial Services and Retail sectors. As well as the equities pressured by stronger yen.

During the month of July, Japanese annual exports increased 13.4%, this percentage came higher than expected by 0.2% and higher than the previous month by 3.7%. However the annual imports for July month came lower than expected by 0.8% where it rose by 16.3%.

The stocks of major exporters such as Sony and Panasonic shares rose by 0.3% and 0.2% respectively, Canon’s stock gained around 0.1% while Mitsubishi Electric’s stock fell by 0.2%.
Regarding oil space, the stocks of Japan Petroleum Exploration and Inpex fell by 2% and 1% respectively.

Elsewhere in Australia, the shares were lower during today’s session as the losses in Energy, Telecoms Services and Utilities sectors weighed on the stocks. S&P/ASX200 ended today’s session in red territory as it fell by 0.10% at 5,779.21.
Regarding gold miners, Evolution Mining rose by 3% after the firm reported a turnaround to full-year profit as the gold production and their sales revenue increased. Also, Newcrest Mining’s share surged by 2% today.

As the prices of Oil declined by almost 1% overnight, oil stocks were weaker, where Santos’ share lost around 1% while Woodside Petroleum declined by 2%.

Among the big Four Banks, Commonwealth bank’s stock added 0.4% while the others fell in arrange of 0.1% to 0.3%.



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