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Asia: bulls still hold slight edge

Anastasia Tretyakova, Junior analyst, Global Markets (Finam)

On Monday, April 2, primary Asian stock indices traded mixed with prevailing upside against the release of China’s NBS and HSBC manufacturing PMIs. The first index hit a one-year high of 53.1 in March and the other gauge increased to 48.3 in March from 48.10 the month before.

Meanwhile, the release of favorable US personal spending data, which, as the adjusted reading showed, rose 0.8 m-o-m in February, against an estimated growth of 0.6% m-o-m. The University of Michigan Consumer Sentiment index outpaced the median analyst estimate last month.

Finally, optimism on exchanges was fueled by news that Moody’s Investors Service raised South Korea’s credit rating from Stable to Positive, citing the country’s stable fiscal system and its better resistance to turbulent global financial markets.

Among the negative news that affected the course of trading, we’d like to note speculation that the Chinese government does not intend to moderate the restrictions on real estate purchases in the country.

Economic data issued on Sunday added to pessimism. Investors were disappointed by a slide in South Korea’s import and export growth in February.

In the upshot, the regional stock indicator MSCI Asia Pacific edged up 0.1% to end at 126.67. The Hong Kong index Hang Seng and Australia’s S&P/ASX 200 benchmark eased 0.16% and 0.14%, respectively. Japan’s Nikkei 225 stock average gained 0.26% and South Korea’s Kospi index added 0.76%. The Taiwanese and Chinese markets are closed today for public holidays.

China’s developers China Resources Land and Shimao Property Holdings lost 0.75% and 1.21%, respectively, in the wake of a statement by Chinese vice premier Li Keqiang that the measures to stabilize prices in the country will remain in place.

on the US market, advanced 0.5% in Sydney trading, while Japanese automotive company Honda Motor, which gets 68% of its revenue from the US market, finished 2.07% higher.

Japan’s shipping company Kawasaki Kisen Kaisha gained 6.04% and South Korea’s containerized shipments operator Hanjin Shipping advanced 4.5%.

 

IndexCountryValueChangeChange, %YTD, %
S&P/ASX 200 Australia 4329.27 -5.97 -0.14% 6.72%
All Ordinaries Australia 4416.38 -3.59 -0.08% 7.43%
Ho Chi Minh Vietnam 441.03 1.40 0.32% 25.45%
Hang Seng Hong Kong 20522.26 -33.32 -0.16% 11.33%
Hang Seng H-shares Hong Kong 10658.76 18.60 0.17% 7.27%
BSE 30 (Sensex) India 17478.15 73.95 0.42% 13.09%
Jakarta Composite Indonesia 4166.07 44.52 1.08% 9.00%
Shanghai A-shares China 2370.07 11.15 0.47% 2.86%
CSI 300 China 2454.90 11.78 0.48% 4.65%
KLSE Composite Malaysia 1603.78 7.45 0.47% 4.77%
NZSE 50 New Zealand 3493.62 -15.93 -0.45% 6.68%
Karachi 100 Pakistan 13701.69 -60.07 -0.44% 21.11%
Straits Times Singapore 3016.07 5.61 0.19% 13.97%
Bangkok SET Thailand 843.87 0.96 0.11% 17.47%
TAIEX Taiwan 7862.90 -70.10 -0.88% 11.18%
PSEi Philippines 5110.86 3.13 0.06% 16.90%
Colombo All-Shares Sri Lanka 5398.70 -21.50 -0.40% -11.12%
KOSPI South Korea 2029.29 15.25 0.76% 11.15%
Nikkei 225 Japan 10109.87 26.31 0.26% 19.57%
Topix Japan 856.05 1.70 0.20% 17.49%