INGOT Brokers AU | Asian market report (2017-10-13)

Asian market report (2017-10-13)

Overview:

Asian markets were up during today’s session following the report of Chinese trade data. However, only South Korean Equities ended Friday’s trading session on red notes as investors booked profits.

In China, the trade data showed that Chinese imports grew better than expected in the month of September while exports grew slower than expectations but remained robust.

China reported that its annual imports improved by 5.2 percent to 18.7 percent during last month, while the expectation were to be steady at 13.5 percent, while exports grew by 2.5 percent to 8.1, lower than expected by 0.7 percent.

Chinese equities ended today’s session in positive territory where its leading Benchmark Shanghai Composite index added 16 percent or 5.44 points to trade at 3,391.54, while Shenzhen Composite index added 0.67 percent or 14.10 points at 2,130.39. Shenzhen index supported by the gains in all sectors except telecommunication services sector as t fell by 1.01 percent.

Meanwhile, Hong Kong’s shares rose on Friday as it main benchmark edged up by 0.06 percent or 17.40 points to settle higher at 28,476.43. On the other hand, South Korean stocks closed today’s trading session in the red territory as Kospi index fell by 0.05% or 1.14 points to settle down at 2,473.62 at close.

Moreover, investors are keeping an eye on U.S inflation data and Retail sales which would be released in later today.

Japan Stock Exchange:

Japan’s stocks were higher today on the back of the expectations that Prime Minister Shinzo Abe's would win in general elections later this month. The Japanese leading benchmark NKD 225 hit 21 year-high as it added 0.96 percent or 200.46 points to settle higher at 21,155.18 helped by the gains all sectors.

Looking at specific stocks, the stock of Fast Retailing added 5.5 percent on Friday after the firm reported an increase in its profits for the fiscal year in August.

Japan'sAsahi Brewery’s stock added 1.8 percent after the firm reported that it may sell 20 percent of its stock in Tsingtao Brewery to grow its business in Europe.

Kobe Steel's shares fell 8.7 percent after the company's data scandal revealed that 30 companies outside Japan, including General Motors, Tesla, Boeing and Airbus, received aluminium and other products with falsified specifications.

In currency market, the greenback fell against the safe-haven yen to trade at 112.09 at 10:15 GMT.

Australia Stock Exchange:

Moreover, Australian equities closed today’s trading session in positive territory as its main benchmark S&P/ASX 200 gained 0.34 percent or 19.69 points to end the session up at 5,814.15 supported by the gains in all sectors except the sector of industrials.

On the back of news of strong iron ore imports by China in September, mining stocks gained on Friday where Rio and BHB Billiton added 0.6 percent each while Fortescue Metals rose by 0.4 percent.

Among the big four bank, NAB, ANZ Westpac and Commonwealth bank rose by 0.1 percent to 0.5 percent. Commonwealth Bank said it will alter the way it pays bonuses to its branch tellers by rewarding them for better customer services rather than for attaining financial targets.

Despite the decrease in oil prices, oil miner gained in today’s trading session where Oil Search advanced by 0.2 percent, Santos added 0.5 percent and Woodside Petroleum gained 0.3 percent.

In currency market the Aussie dollar appreciated against its U.S counterpart to trade at 0.7848 at 10:15 GMT.

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