INGOT Brokers AU | Asian market report (2017-09-18)

Asian market report (2017-09-18)

Overview:

Asian markets closed in green territories on Monday’s session after the markets. Digested weak retail sales data and industrial production data in the U.S. also lifting markets are expectation that the U.S. will keep base rates unchanged in september.

The FOMC will conduct a two-day meeting that is scheduled to begin on the 19th of September, economists don’t expect an interest rate rise at the meeting. However, markets will be looking for details regarding the central bank’s decision to unwind its balance sheet.   

In the Korean peninsula investors’ fears faded after the latest North Korean missile launch last Friday. However, news regarding the Korean peninsula are likely to attract attention and have a dramatic effect on the market if any further missiles launches are fired by North Korea.

Elsewhere, in greater China markets were in positive territories as Hong Kong’s leading index Hang Seng rose by 1.27 percent to trade at 28,159.77 points, while the Shanghai composite and Shenzhen composite rose by 0.28 percent and 0.82 respectively to settle at 3,362.86 points and 11,153.53 points.

In terms of corporate news, Ant Financial is attempting to buy U.S. payments company MoneyGram International for the third time, Ant Financials attempt comes after the Trump administration blocked a China-backed firm's bid for Lattice Semiconductor according to Bloomberg.

Elsewhere east of China in the Korean Peninsula, South Korean Benchmark Kospi hiked by 1.35 percent to end the session at 2,418.21 points Supported by gains in the technology sector as Samsung Electronics closed up 4.13 percent and SK Hynix rose by 3.24 percent.

 

 

Japan Stock Market (Nikkei 225)

The Japanese market was closed today as the nation is celebrating the “Respect for the Aged Day” Which affected the overall volume of the Asian markets.

Australian Stock Market (ASX 200)

The Australian stock market ended Monday’s session advancing by 0.45 percent ending its streak of three consecutive closes in the red. Supported by gains in the Financials, Consumer Discretionary and Energy sectors led stocks higher.

In corporate news, Evolution Mining has agreed to sell its Edna May gold mine in Australia to Ramelius Resources for up to a $90 million and dropped its full-year production expectations to reflect the sale.

Regarding major miners, BHP Billiton added 0.3 percent, while Rio Tinto was down by 0.4 percent and Fortescue Metals is lost almost 3 percent after iron ore prices fell.

In the banking sector, ANZ Banking, Commonwealth Bank, Westpac and National Australia Bank were higher and ranged between 0.8 percent to 1.2 percent.

 

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