Asia Pacific share market mostly ended down on Monday, 30 November 2015, due to mixed lead from offshore markets on Friday and ahead of the key events later this week.
The U.S. showed a lacklustre performance in thin trading Friday after Thanksgiving Day, due to a 3% decline in oil prices. Oil tumbled $1.33, or 3.09%, to $41.71 a barrel as the dollar index, which hit a fresh eight-month high, added additional pressure to an oversupplied market. The Dow Jones Industrial Average closed 15 points, or 0.08%, lower at 17,798.5 while the S&P 500 was up by 1.24 points, or 0.06%, to 2,090. The Nasdaq was up 11.4 points, or 0.22%, at 5,128.
Investors largely remained on the sidelines ahead of the key events later this week, such as a European Central Bank policy meeting scheduled for Thursday and U.S. non-farm payroll data on Friday. Investors are also waiting for the Chinese manufacturing industry purchasing managers' indexes for November, to be released by the government and the private sector on Tuesday.
Among Asian bourses
Resources weigh on Australia market
The Australian share market ended down, with materials and energy sectors led losses among ASX industry groups amid weak commodity prices. Economic data releases did little to alter the trend, with credit growth data from the Reserve Bank of Australia improving slightly in October, but slowing slightly from September's read. Meanwhile, the Australian Bureau of Statistics found company operating profits increased in the first quarter, but remained sluggish over the year. At the close, the benchmark S&P/ASX 200 index ended 36.10 points, or 0.69%, down at 5166.50 points, while the broader All Ordinaries index fell 33.20 points, or 0.63%, to 5218.20 points. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 544 to 447 and 136 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 2.47% to 17.313, suggesting 5.1% swing in the equity benchmark index in the next 30 days.
Shares of resources companies ended steeply down as gold, oil and most base metals faced downward pressure on Friday night. op miner BHP Billion fell 3.6% to A$18.09 and Rio Tinto dropped 0.7%to A$45.91, while Newcrest Mining sank 3.9% to A$10.91 and Fortescue Mining slipped 4.9% to A$1.96.
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Dick Smith shares crashed 51.1% to A$32.25, after electronics retailer abandoned its earnings guidance after a disappointing October and November trading, and said the outlook for Christmas spending was uncertain.
Nikkei falls after disappointing industrial output data
The Japanese share market declined for second straight session, as profit booking continued after Japan's industrial output marked a narrower gain in October than most market forecasts and lingering concerns over market overheating after the benchmark indices hit fresh 3-month high last week. 30 out of 33 TSE industry group declined, with the day's notable losers comprised Insurance, Marine Transportation, Foods, Pharmaceutical, and Electric Power & Gas issues. The Nikkei 225 index at the Tokyo Stock Exchange ended down 0.7%, or 136.47 points, to 19747.47, while the wider Topix index of all first-section shares declined 0.89%, or 14.20 points, to 1580.25. Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 986 to 888.
The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 3.94% to 21.65, suggesting 6.2% swing in the equity benchmark index in the next 30 days.
Industrial output in October rose 1.4% from the previous month, but fell short of the market forecast for a 1.9% uptick
Shipper Mitsui OSK Lines slumped 3% to lead declines on the Topix Marine Transportation Index, which lost 1.9%.
Daito Trust Construction Co. gained 0.6% after Daiwa Securities Group Inc. raised its investment rating on the real-estate company to outperform from neutral.
Electronic-component maker Ryosan Co. added 6.4%, the most since Feb. 27, after saying it will buy back as much as 4.2% of its shares.
Inpex Corp. lost 1.6% and Japan Petroleum Exploration Co. fell 1.9% to lead declines among energy explorers. Crude oil prices fell 3.1% on Friday and are headed for the largest monthly drop since July.
China stocks end higher after volatile ride
The Mainland China stock market ended volatile session tad higher. The indexes had plunged more than 3% in early afternoon trading but bargain hunters managed to lift the gauges into positive territory at market close. The Shanghai Composite Index ended 0.26%, or 9.10 points, up at 3445.40 points, after falling as much as 3.2% intraday. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.89%, or 19.49 points, to close at 2203.61. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, was up 0.87%, or 29.03 points, to close at 2672.58.
Shares of brokerages pared back most of their morning losses and closed mixed. On Sunday, three of China's largest brokerages said they were being probed by the country's securities regulator for suspected rules violations related to the signing of margin-trading contracts with customers. Shares of Citic Securities closed 1.51% lower. China Merchants was down 0.2%, while Founder Securities ticked back into the green, closing 3.27% higher. Haitong Securities, which saw the biggest plunge in its shares after trading resumed on Monday, closed near 9% lower
Chinese banks were all trading in positive territory, boosted by the news of the likely inclusion of the yuan into the Special Drawing Rights (SDR) basket of currencies by International Monetary Fund (IMF). It would make the yuan an officially recognized reserve currency. Shares of ICBC, Agriculture Bank of China, Bank of China CCB, and Bank of Commerce were up between 0.64% and 3.8%.
Hong Kong market falls 0.33%
The Hong Kong stock market ended down, as investor sentiment was hit by weak lead from other Asian bourses and on signs that the Chinese securities regulator was clamping down on leveraged buying again. The benchmark Hang Seng Index dropped 71.90 points, or 0.33%, to 21996.42 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, has lost 65.02 points, or 0.66%, to 9790.64 points. Turnover increased significantly to HK$100.7 billion from HK$79 billion on Friday. The stock exchange saw HK$34 billion deals in the last five minutes. MSCI will adjust its indexes today after market close, triggering volatile trade among stocks to be included or removed.
Shares of HK Electric-SS (02638) jumped 4% to HK$6.18. Tencent (00700) nudged up 0.7% to HK$154.3.CR Cement (01313) dipped 1% to HK$2.53. The stock will be removed from the MSCI index.
China Life (02628) slipped 2% to HK$26.75 as its weighting on the MSCI China index may be lowered. It became the biggest blue-chip loser. Ping An (02318) fell 2% to HK$42.45.
CR Beer (00291) rose 3% to HK$15.08 even though Barclays trimmed its target price. It was the top blue-chip winner today.
GAC Group (02238) and Great Wall Motor (02333) shot up 1.5% to HK$7.42 and HK$9.51 on talks that mainland government may launch new emission standard. Dongfeng Group (00489) rose 2% to HK$10.54.
Hong Kong's value of total retail sales in October, provisionally estimated at HK$37.2 billion, dropped 3% compared with the same month in 2014, according to the Census and Statistics Department. The revised estimate of the value of total retail sales in September fell 6.3% compared with a year earlier. For the first ten months of 2015 taken together, the value of total retail sales decreased 2.7% compared with the same period in 2014. After netting out the effect of price changes over the same period, the volume of total retail sales in October increased 1.2% over a year earlier.
Sensex provisionally settles with small gains
A divergent trend was witnessed as the barometer index, the S&P BSE Sensex, settled with small gains while the 50-unit Nifty 50 index settled with minuscule losses as per provisional closing data. The Sensex was up 30.78 points or 0.12% at 26,158.98, as per the provisional closing data. The Nifty was off 1.60 points or 0.02% at 7,941.10, as per the provisional closing data. High volatility was witnessed during the last one hour or so of the trading session as the Sensex and the Nifty came off soon after extending intraday gains. The trading session saw these two key benchmark indices alternately swing between positive and negative zone.
Shemaroo Entertainment gained 2.92% after the company said it has joined hands with Videocon d2h to launch d2h Darshan - a 24 hour subscription based ad-free devotional service. The announcement was made during market hours today, 30 November 2015.
The opposition Congress party has said that the Goods and Services Tax (GST) should not exceed 18% so that the tax rate is kept moderate and does not impose a burden on the consumer. The Congress also said that the proposed extra 1% interstate tax is against the very idea of having a uniform GST. Considering that there will be 100% compensation for state governments for five years, this extra levy will be market distorting, the principal opposition party said. The Dispute Mechanism of the GST council should be made independent of political parties, the Congress party said.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index fell 0.9% to 8320.61. South Korea's KOPSI eased 1.8% to 1991.97. Malaysia's KLCI fell 0.6% to 1672.16. Singapore's Straits Times index fell 0.1% at 2855.94. Indonesia's Jakarta Composite index slipped 2.5% to 4446.46. New Zealand's NZX50 edged down 0.01% to 6100.15.
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