Among regional bourses, China's financial market finished stronger, with Chinese brokerage shares leading rally after the nation's regulators gave approval for the first initial public offerings in more than a year. Meanwhile, China's Premier Li Keqiang pledge to maintain appropriate liquidity in 2014 also bolstered sentiments.
The Shanghai Composite Index, which tracks both A and B shares, advanced 18.45 points, or 0.88%, to 2115.98. Over the course of 2013, the Shanghai Composite index declined 6.8%, a third year of declines out of four.
China's Premier Li Keqiang vows that the government will keep liquidity at an appropriate level in 2014 to maintain the stability of financial markets and the broader economy. The comments came after cash crunches in China's money markets in June and mid-December, which many market observers believe were engineered by the central bank, which refused to aid the market with large cash injections to help banks cope with elevated cash demand at the end of each quarter.
Also, central bank promises on Monday to continue with a prudent monetary policy, maintain an appropriate level of liquidity and bring about the reasonable growth of credit. The People's Bank of China made the comments in a statement on its website following a quarterly monetary policy meeting. Policymakers have struggled to contain the rapid growth of lending in China, with total social financing, the country's broadest measure of credit creation, rising 13.2% on-year in the first 11 months of 2013. The PBOC said financial markets have been steady, while domestic prices have been basically stable. China's consumer price inflation this year has been benign, and has not exceeded the officially targeted ceiling of 3.5% in any single month. The PBOC also said it would carry out further interest rate liberalization and exchange rate reform, though it did not give any timetable.
China's debt including contingent liabilities rose about 13% in the six months through June, based on figures published yesterday by the National Audit Office, underscoring risks to the financial system as President Xi Jinping rolls out economic reforms. Lawmakers unveiled the biggest policy shift since the 1990s last month, pledging to allow more private investment in state-controlled industries, after earlier promising to give markets a greater role in shaping the economy.
Shares of Shanghai listed financials companies closed sharp higher, with brokerage players leading the rally on speculation new share sales will bolster earnings. Citic Securities, China's biggest listed brokerage, advanced 3.3% to 12.75 yuan. Haitong Securities, the second largest, gained 1.6% to 11.32 yuan. GF Securities Co. (000776) climbed 2.5% to 12.48 yuan.
Inner Mongolian Baotou Steel Union Co. jumped 10% after its board approved a plan to rise up to 29.8 billion yuan ($4.92 billion) to buy assets.
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In Australia, Australian share market finished last session of the Calendar Year 2013 slightly lower in quiet trade, with the market due to close early for the New Year's Eve holiday. The benchmark S&P/ASX 200 Index edged down 4.6 points, or 0.1%, to 5352.2.
The decline in market came as investors cashing in some gains after the benchmark indices posted its best yearly gain in four years, due to solid gains in the banks and the return of consumer spending that have helped shrug off the downturn in mining investment.
Over the course of 2013, the S&P/ASX index rose 15.1%, beating the 14.6% gains of 2012, fuelled by the combination of an improving global growth outlook, supported by easy global monetary policy, and record-low domestic interest rates saw money switch from safe haven investments like bank deposits and bonds into shares.
Many of the major financial shares were slightly higher, with Australia & New Zealand Banking Group adding 0.06% and Westpac Banking Corp rising 0.19%, while resource stocks traded mostly lower. Losses for spot gold and gold futures dragged Newcrest Mining down 1.9%, while a 1% loss for New York-traded crude-oil futures sent Oil Search 1.10% down and Woodside Petroleum 0.69% lower, though Origin Energy managed to gain 0.07%. Alumina was up 2.29% as aluminium prices climbed overnight to their highest level in almost two months
Among Australian stocks, the best performer was law firm Slater and Gordon (SGH) which rose 128.3% in calendar 2013. Realestate.com (REA) added 109% while outdoor wear retailer Kathmandu (KMD) gained 104%. Big losers of 2013 included Silverlake Resources (SLR) down 84% along with Newcrest Mining (NCM) which was hit by its financial write-down back in June, shedding close to 65% this year.
In Singapore, Stocks in Singapore hit their highest in almost one month on Tuesday, ending 2013 nearly flat amid active buying in shares such as Genting Singapore. Singapore's Straits Times Index rose 0.45% to 3,167.43, the highest close since Dec. 3
in Malaysia, shares in city market retreated from a record high as investors booked profits in shares such as oil and gas services company SapuraKencana Petroleum Bhd. Malaysia's KLSE Composite index edged down 0.3% to 1,866.96 after climbing to a record close of 1,872.52 on Monday. The benchmark racked up 10.5% gain on the year.
In Hong Kong, shares in city market advanced in the last trading day of the CY2013, on the back of gains in financials, realty, and wind energy related stocks. The benchmark Hang Seng Index was provisionally ending 61.52 points higher at 23306.39, while Hang Seng China Enterprises Index rose 45.45 points to 10816.14. The benchmark index finished the year 2.87% up from its 2012 close.
Among the HK 50 blue chips, 32 rose and nine fell, with nine stocks remaining steady. Kunlun Energy (00135) was the top blue-chip gainer, rising 1.6% to HK$13.66. Tencent (00700) softened 0.2% to HK$494.6 after hitting an intra-day high of HK$502. It is the first blue chip that crossed the HK$500 mark.
Shares of Chinese banks gained, with Bank of China rising 0.56% to HK$3.57, Bank of Communications Co. 1.30% to HK$5.47 and Industrial & Commercial Bank of China 0.38% to HK$5.24.
Wind players were higher. Goldwind (02208) surged 9% to HK$8.84. Datang Renew (01798) also jumped 4.5% to HK$1.64.
China Cosco shares declined 1.1% to HK$3.78 after the company announced its subsidiary has signed an agreement to build four cargo ships for $108 million.
China's leading building-materials maker BBMG rose 6.6% to HK$6.75, as the company projected to record an increase in 2013 net profit of up to 15%, while bedding retailer Casablanca fell 1.2% as the company forecast a significant decline in net profit this year.
Among HK listed stocks, the biggest winners for the CY2013 were casino stocks and China tech companies. Galaxy Entertainment soared 127% while Sands China was up 84% to become the third-best performer. Internet firm Tencent nearly doubled to sit near the HK$500 level. Among the big losers was China Coal Energy, which lost 48%, while China Shenhua Energy and Hong Kong merchandiser Li & Fung each lost about a third of their value.
In economic news, the Hong Kong Monetary Authority announced on Tuesday that total deposits with authorized institutions rose 1% in November. With demand, savings and time deposits all increasing, Hong Kong-dollar deposits rose 0.8% during the month. Overall foreign-currency deposits grew 1.3% in November, and renminbi deposits in Hong Kong climbed 5.8% to Rmb827 billion at the end of November.
The Hong Kong Government announced today there was a surplus of HK$15.6 billion in the month of November, thereby reducing the deficit for the eight months ended 30 November 2013, to HK$23.7 billion. Expenditure for the period amounted to HK$264 billion and revenue HK$240.3 billion.
In India, key benchmark indices logged small gains on the last trading session of 2013. Gains in Asian and European stocks supported domestic bourses. The barometer index, the S&P BSE Sensex, was up 27.67 points or 0.13% to 21,170.68, its highest closing level since 27 December 2013. The Sensex has risen 378.75 points or 1.82% in December 2013. The Sensex has garnered 1,743.97 points or 8.97% in calendar 2013. From a 52-week low of 17,448.71 on 28 August 2013, the Sensex has risen 3,721.97 points or 21.33%. From a record high of 21,483.74 hit on 9 December 2013, the Sensex is off 313.06 points or 1.45%.
HCL Technologies rose 1.55% to Rs 1,267.40. The stock had hit record high of Rs 1,269 in intraday trade on Monday, 30 December 2013. The company on Friday, 27 December 2013, announced that Vineet Nayar, Director of the company since 2008, has decided to retire from the board in order to devote more time to his Foundation. HCL Technologies also announced on Friday, 27 December 2013, the appointment of Vineet Nayar as a Senior Advisor to HCL Technologies and HCL Corporation.
Shares of Apollo Tyres jumped 5.77% to Rs 107.15 after US based tyre maker Cooper Tire & Rubber Company on Monday, 30 December 2013, announced that it has terminated the merger agreement with Apollo Tyres. The stock witnessed high intraday volatility. The stock hit record high of Rs 113 at the onset of the trading session. The stock hit low of Rs 102.55. High volumes accompanied the rally in the stock. On BSE, 59.32 lakh shares changed hands in the counter, compared with average daily volume of 10.54 lakh shares during the past one quarter.
Elsewhere in the Asia Pacific region, Taiwan's Taiex Index fell 0.1%. New Zealand's NZX 50 Index slid 0.7%, paring this year's advance to 16%. Markets in Japan, South Korea, Indonesia, Thailand, the Philippines and Vietnam are closed.
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