INGOT Brokers AU | Asian market report (2017-10-12)

Asian market report (2017-10-12)

Overview:

Most of Asian equities ended Thursday’s trading session in the green territory following the gains in Wall Street after the minutes of U.S Federal Reserve released on Wednesday.

FOMC minutes showed that many of the participants still expect another hike of U.S interest rate but it depends on the upcoming inflation data.

Chinese equities closed the session down where its main benchmark Shanghai composite index edged down by 0.02 percent or 0.638 points to close at 3,387.65, while Shenzhen Composite index dropped by 0.15percent or 3.258 points to close the session in the red at 2,116.29.

China’s equities pressured by the news that Beijing decided to curb the pollution throughout winter where this announcement pressured resources firms and energy stocks.

However, Hong Kong shares ended today’s trading session in positive territory where its leading benchmark Hang Seng index added 0.24% or 69.46 points to settle up at 28,459.03. Also, South Korean equities were up today as Kospi index gained 0.68 percent or 16.6 points to close the session higher at 2,474.76.

Japan Stock Exchange:

Japanese equities ended Thursday’s trading session in the green territory where Nikkei 225 index rose by 0.35 percent or 73.45 points to settle up at 20,954.72 helped by the gains in telecommunication services and Utilities Sectors.

In economic news, Bank of Japan reported that the yearly overall lending in Japan rose by 3 percent in September reaching 516.81 trillion yen, these data came lower than expected by 0.2 percent.

Among the major exporters, Mitsubishi and Cannon added 0.2 and 0.3 percent respectively, while Panasonic and Sony fell by 0.2 and more than one percent respectively.

Among Automakers, Toyota fell by 0.2% while Honda’s share left unchanged. Kobe Steel’s stock added 1%, halting a two-day losing streak.

In currency market, USD fell against the safe-haven yen to trade at 112.41 at 10:15 GMT.

Australia Stock Exchange:

Moreover, Australia’s shares closed today’s trading session in positive territory where its main benchmark S&P/ASX added 0.39 percent or 22.32 points to close the session up at 5,794.45 supported by the gains in all sectors except the sector of Basic Materials as it fell by 0.87% during today’s session.

In economic news, the total number of home loans in the country rose by 1.0% in August reaching 57,161, the data came higher than expected by 0.5%.

Looking at specific stocks, Transurban's share added 0.6% after the firm announced that its quarterly revenues rose by 10.5 percent in the third quarter, the firm added that evaluating the NSW government's proposed sale of a 51 percent stake in Sydney Motorway Corporation.

Moreover, coal miner’s share fell by 3% as Whitehaven Coal reported that the production of Coal rose by 14% in the third quarter of the current year and coal sales increased by 21%.

In currency market the Aussie dollar rose against its U.S counterpart to trade at 0.7822 at 10:15 GMT.

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