INGOT Brokers Australia | Asian market report (2017-10-26)

Asian market report (2017-10-26)

Asian markets ended Thursday’s session in mixed territories as investors digested regional earning results. Additionally, investors were being cautious ahead of market-moving European central bank monetary policy decision, at which ECB chief Mario Draghi is expected to announce that ECB plans to reduce its massive monthly asset purchasing program.

Meanwhile, in greater China, major markets ended the session on mixed notes, with the Shanghai Composite adding 0.31 percent to trade at 3,407.57 at the close, while the Shenzhen Composite rose by 0.25 percent to end the session at 2,030.35. On the other hand, in Hong Kong, the Hang Seng index lost 0.36 percent to end the session at 28,202.38 at the close.

Over in South Korea, Equities ended the session mostly in red territories as investors digested earning results from blue-chip firms, South Korea’s leading index KOSPI fell by 0.48 percent to settle at 2,480.63 at the close.

South Korean chipmaker SK Hynix said that its third-quarter operating profit rose by 415 percent from a year ago. While profit for the period came in at 3.3 billion dollars.

Meanwhile, Korean car manufacturer Hyundai Motors saw its share advance by 7.41 percent after the company released its third-quarter earnings, with operating profit dropping by nearly 20 percent, the results still came in above estimates at 758.21 million dollars.  

 

Japan (Nikkei 225)

Japan’s Nikkei 255 closed slightly higher by 0.15 percent, lifted by earning in financials and automakers rose. Japan’s primary benchmark ended the session up by 0.15 to trade at 21,739.78.

In corporate news, messaging service Line saw its share surge by 16.73 percent after the firm reported upbeat third-quarter earnings.

While, Asahi group reported that it will offload soft drink arm LB, as per Nikkei Asian, the Japanese firm’s share price ended the session lower by 0.1 percent.

In economic news, the Bank of Japan reported that producer prices in Japan were rose by 0.9 percent on year in September. Exceeding expectations for 0.8 percent rise.

 

Australia (ASX 200)

The Australian benchmark index ASX200 advanced for the second session on Thursday, lifted by Technology and Healthcare sectors, Primary Aussie ASX 200 benchmark rose by 0.18 percent to settle at 5,916.30 at the close.

Regarding economic news, the Australian Bureau of Statistics reported that export prices in Australia slipped by 3.0 percent on quarter in the third quarter of 2017. Beating forecasts of a 4.0 percent decline following the 5.7 percent drop in the three months prior.

Import prices fell by 1.6 percent on quarter, missing estimates of a 1.5 percent decline subsequent the 0.1 percent contraction in the second quarter.

In corporate news, ANZ Banking announced that is full-cash profit rose by 18 percent, and the bank also said that it would give back cash to shareholders in the form of a share repurchase. Be that as it may, ANZ warned that revenue growth was getting more difficult amid rising competition. The banks share fell by more than 2 percent. 

Shares of Stockland Corp rose by more than 1 percent after the company reaffirmed that it is on track to year guidance.

 

 

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