- Li Chen
- 30 Dec, 2024
- Hong Kong
Stock market indexes in China and Hong Kong diverged in thin trading as investors awaited the release of manufacturing industry data.
The Hang Seng index declined 0.6%, and the CSI 300 index rose 0.2% amid optimism about the fiscal stimulus implementation plans and possible relaxing of bank reserve requirement ratios.
Stock market indexes in Hong Kong were under pressure following a selloff in tech stocks in Friday's trading in New York.
Ahead of the last trading day, benchmark indexes in Hong Kong and Shanghai advanced 18% in 2024, overcoming the lackluster performance after the announcements of stimulus measures by policymakers in Beijing and the People's Bank of China.
China Stock Movers
The Hang Seng index decreased 0.6% to 19,976.48, and the mainland-focused CSI 300 index advanced 0.2% to 3,991.48.
Sands China decreased 5.3% to HK $20.60, Haidilao International Holding declined 5.9% to HK $15.42, and Trip.com Group fell 4.5%.
On the upside, SMIC gained 6% to HK $32.50, and Wuxi AppTec increased 3% to HK $55.50.
Three new companies began trading for the first time in Hong Kong, its busiest day for new listings since July 10.
InnoScience Technology Holding jumped 2% to HK $55.50 after the Gallium Nitride microchip company completed its initial public listing at HK $30.86 per share.
The company raised HK$1.4 billion, or $180 million, through the sale of 45.4 million shares.
HealthyWay jumped 30% to HK$10.38 after the digital health and medical services platform listed its stock in Hong Kong.
The Baidu-backed company raised HK $195 million after it priced its initial offering at HK $7.80 per share.
Xunfei Healthcare Technology jumped 7% to HK $88.40 after the medical information platform operator completed its initial public offering and raised HK $1.4 billion, or $180.4 million.
Air China Cargo soared more than four-fold to 10.13 yuan on the first day of trading in Shenzhen after the company sold 1.3 billion shares and raised 3.5 billion yuan.
- Arun Goswami
- 30 Dec, 2024
- Mumbai
Stock market indexes lacked direction in Monday's trading after the rupee hit a new record low ahead of the release of foreign fund flows data later in the week.
The Sensex index decreased by 0.1% to 78,629.0, and the Nifty index fell by 0.2% to 23,771.85.
On the Mumbai stock exchange, 62 stocks traded at their 52-week highs, and 39 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched higher to 6.83%, and the Indian rupee eased to a new record low of 85.39 against the U.S. dollar.
Coforge Ltd. decreased 0.3% to ₹9,409.30, and the company's board approved the merger of its subsidiary Cigniti Technologies.
The software development company holds a 54% stake in its subsidiary.
Cigniti Technologies decreased 0.02% to ₹1,848.50.
Max Estates Limited edged higher 5.3% to ₹590.0 after the company reported strong demand for its luxury properties in Noida.
The company pre-booked ₹845 crore worth of residential properties in the first week of the launch of Phase II of Estate 128 in Noida, increasing the total for the project to ₹2,700 crore.
The company confirmed the sale of ₹5,000 crore in the first nine months of the current financial year ending in September, and the real estate developer reiterated its full-year revenue estimate between ₹4,800 and ₹5,200 crore.
Jaiprakash Power Ventures declined 4.8% to ₹17.01 after the SEBI imposed a fine of ₹54 lakh on the company and managing director Suren Jain and other executives for misrepresenting the company's financial statements.
Utkarsh Small Finance Bank Ltd gained 2.6% to ₹35.41 after the microloan lender's plans to sell ₹355 crore worth of nonperforming assets for ₹52 crore, seeking a recovery of 14.6%.
Zydus Wellness decreased 0.6% to ₹1,887.60 after the company's subsidiary received a goods and service tax demand for ₹56.3 crore from the tax authority.
- Arun Goswami
- 30 Dec, 2024
- Mumbai
Stock market indexes lacked direction in Monday's trading after the rupee hit a new record low ahead of the release of foreign fund flows data later in the week.
The Sensex index decreased by 0.1% to 78,629.0, and the Nifty index fell by 0.2% to 23,771.85.
On the Mumbai stock exchange, 62 stocks traded at their 52-week highs, and 39 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched higher to 6.83%, and the Indian rupee eased to a new record low of 85.39 against the U.S. dollar.
Coforge Ltd. decreased 0.3% to ₹9,409.30, and the company's board approved the merger of its subsidiary Cigniti Technologies.
The software development company holds a 54% stake in its subsidiary.
Cigniti Technologies decreased 0.02% to ₹1,848.50.
Max Estates Limited edged higher 5.3% to ₹590.0 after the company reported strong demand for its luxury properties in Noida.
The company pre-booked ₹845 crore worth of residential properties in the first week of the launch of Phase II of Estate 128 in Noida, increasing the total for the project to ₹2,700 crore.
The company confirmed the sale of ₹5,000 crore in the first nine months of the current financial year ending in September, and the real estate developer reiterated its full-year revenue estimate between ₹4,800 and ₹5,200 crore.
Jaiprakash Power Ventures declined 4.8% to ₹17.01 after the SEBI imposed a fine of ₹54 lakh on the company and managing director Suren Jain and other executives for misrepresenting the company's financial statements.
Utkarsh Small Finance Bank Ltd gained 2.6% to ₹35.41 after the microloan lender's plans to sell ₹355 crore worth of nonperforming assets for ₹52 crore, seeking a recovery of 14.6%.
Zydus Wellness decreased 0.6% to ₹1,887.60 after the company's subsidiary received a goods and service tax demand for ₹56.3 crore from the tax authority.
- Akira Ito
- 27 Dec, 2024
- Tokyo
Stock market indexes extended weekly gains in a broad rally after retail sales rose at a faster than expected pace.
The Nikkei 225 Stock Average jumped 1.8%, and the broader TOPIX advanced 1.2% amid gains in all sectors.
For the week, the Nikkei 225 increased 3.5%, and the broader TOPIX gained 3.3%, and investors held out for the Bank of Japan to delay its rate cut after the spring wage negotiations.
On the economic front, Japan's retail sales rose annually by 2.8% in November from a downwardly revised 1.3% rise in October, the Ministry of Economy, Trade & Industry reported Friday.
Retail sales advanced for the 32nd consecutive month and the fastest increase since August, after rising wages continued to support consumption.
However, industrial output declined at an annual pace of 2.8% in November, following a rise of 1.4% in October, a separate report by the industry showed.
On a monthly basis, industrial output fell 2.3% following a rise of 2.8% in October, and it was the first decline in three months.
Production of motor vehicles declined 4.3% compared to a rise of 6.4%; production machinery fell 9.1% compared to a rise of 21.6%, and fabricated metals decreased 5.7% compared to an increase of 7.8% in the previous month, respectively.
Japan's jobless rate held steady for the second month in a row at 2.5% in November, according to a separate report by the ministry.
The number of unemployed increased by 10,000 to 1.72 million, while those employed rose by 100,000 to a record 68.08 million.
The labor force, which includes employed and unemployed, increased by 130,000 to 69.80 million, and those not attached to the labor force fell by 160,000 to 40.04 million.
However, the jobs-to-applications ratio of 1.25 matched the rate in the previous month and held its highest level in six months.
Japan Stock Movers
The Nikkei 225 Stock Average increased 1.8% to 40,275.54, and the broader TOPIX advanced 1.2% to 2,800.25.
Electronic component makers were among the leading gainers in Tokyo in Friday's trading.
Nidec Corp. jumped 4.2% to ¥2,844.50, Murata Manufacturing advanced 3.2% to ¥2,565.50, and Renesas Electronics increased 4.1% to ¥2,079.0.
Toyota Motor Corp. increased 1.1% to ¥3,175.0, Honda Motor advanced 1.5% to ¥1,522.0, Nissan Motor dropped 9.9% to ¥497.40, and Suzuki Motor added 2.1% to ¥1,795.0.
Seven & I Holdings increased 1% to ¥2,475.50, Isetan Mitsukoshi gained 1.7% to ¥2,757.0, J. Front Retailing decreased 0.1% to ¥2,156.50, and Fast Retailing Co. Ltd advanced 1.3% to ¥54,850.0.
- Akira Ito
- 27 Dec, 2024
- Tokyo
Stock market indexes extended weekly gains in a broad rally after retail sales rose at a faster than expected pace.
The Nikkei 225 Stock Average jumped 1.8%, and the broader TOPIX advanced 1.2% amid gains in all sectors.
For the week, the Nikkei 225 increased 3.5%, and the broader TOPIX gained 3.3%, and investors held out for the Bank of Japan to delay its rate cut after the spring wage negotiations.
On the economic front, Japan's retail sales rose annually by 2.8% in November from a downwardly revised 1.3% rise in October, the Ministry of Economy, Trade & Industry reported Friday.
Retail sales advanced for the 32nd consecutive month and the fastest increase since August, after rising wages continued to support consumption.
However, industrial output declined at an annual pace of 2.8% in November, following a rise of 1.4% in October, a separate report by the industry showed.
On a monthly basis, industrial output fell 2.3% following a rise of 2.8% in October, and it was the first decline in three months.
Production of motor vehicles declined 4.3% compared to a rise of 6.4%; production machinery fell 9.1% compared to a rise of 21.6%, and fabricated metals decreased 5.7% compared to an increase of 7.8% in the previous month, respectively.
Japan's jobless rate held steady for the second month in a row at 2.5% in November, according to a separate report by the ministry.
The number of unemployed increased by 10,000 to 1.72 million, while those employed rose by 100,000 to a record 68.08 million.
The labor force, which includes employed and unemployed, increased by 130,000 to 69.80 million, and those not attached to the labor force fell by 160,000 to 40.04 million.
However, the jobs-to-applications ratio of 1.25 matched the rate in the previous month and held its highest level in six months.
Japan Stock Movers
The Nikkei 225 Stock Average increased 1.8% to 40,275.54, and the broader TOPIX advanced 1.2% to 2,800.25.
Electronic component makers were among the leading gainers in Tokyo in Friday's trading.
Nidec Corp. jumped 4.2% to ¥2,844.50, Murata Manufacturing advanced 3.2% to ¥2,565.50, and Renesas Electronics increased 4.1% to ¥2,079.0.
Toyota Motor Corp. increased 1.1% to ¥3,175.0, Honda Motor advanced 1.5% to ¥1,522.0, Nissan Motor dropped 9.9% to ¥497.40, and Suzuki Motor added 2.1% to ¥1,795.0.
Seven & I Holdings increased 1% to ¥2,475.50, Isetan Mitsukoshi gained 1.7% to ¥2,757.0, J. Front Retailing decreased 0.1% to ¥2,156.50, and Fast Retailing Co. Ltd advanced 1.3% to ¥54,850.0.
- Akira Ito
- 26 Dec, 2024
- Tokyo
Stock market indexes in Tokyo advanced for the second session in a row amid interest rate uncertainties and elevated geopolitical tensions.
The Nikkei 225 stock average gained 0.9%, and the broader TOPIX index advanced 1.1%, as investors debated future rate paths in the months ahead.
The Japanese yen drifted to 157.44 against the U.S. dollar.
Japan has engaged in unusual and aggressive diplomatic efforts in wooing the incoming U.S. presidential administration, as Prime Minister Shigeru Ishiba's administration looks to ramp up defense spending and provide additional economic stimulus.
The LDP-led coalition government made a number of concessions to opposition parties in passing new legislation, raising hopes that the government will provide additional stimulus to low-income and senior citizens.
Moreover, Japan's government is also looking to ramp up its defense spending amid rising threats from the rapidly modernizing and aggressive Chinese military.
Financial markets in Europe, Australia, and Hong Kong are closed for a holiday on Thursday, and December 30th is the last trading day for Japanese markets.
Bank of Japan Governor Kazuo Ueda said in a speech that Japan's economy is moving closer to achieving sustainable 2% inflation but failed to clarify the central bank's stance ahead of the next policy meeting in January.
The Bank of Japan is likely to hold rates at its next meeting, awaiting spring wage negotiations and clarity on the trade policy of the incoming U.S. presidential election in early February.
Japan Stock Movers
The Nikkei 225 Stock Average rose 0.9% to 39,499.14, and the broader TOPIX index advanced 1.1% to 39,499.14.
Tech stocks advanced in Tokyo following gains in New York in Tuesday's trading.
Tokyo Electron increased 0.6% to ¥23,830.0, Advantest Corp. increased 1.2% to ¥9,095.0, and Screen Holdings decreased 0.2% to ¥9,397.0.
Financial stocks traded mixed after the yen drifted lower as investors dialed down rate-increase expectations at the next policy meeting in January.
Sumitomo Mitsui Financial Group advanced 1.2% to ¥3,742.0, Mizuho Financial Group gained 0.9% to ¥3,863.0, and Mitsubishi UFJ Financial Group increased 0.6% to ¥1,811.0.
Toyota Motor jumped 6% to ¥3,142.0, Honda Motor added 3.8% to ¥1,500.0, Nissan Motor increased 6.6% to ¥552.40, and Mitsubishi Motor advanced 6.5% to ¥562.90.
Toyota Motor said it plans to increase its return on equity to 20% by 2030.
Japan Airlines declined 0.3% to ¥562.90 after the company confirmed a cyberattack early this morning disrupting its internal and external systems.
The company said the attack started at 7:24 a.m. Tokyo time, forcing the airline to temporarily disable its network router, leading to system malfunctions and suspension of its ticketing system.
Fast Retailing advanced 0.3% to ¥53,250.0, Isetan Mitsukoshi jumped 7.6% to ¥2,711.50, and Seven & I Holding Co. Ltd. decreased 0.5% to ¥2,452.50.
J. Front Retailing soared 8.3% to ¥2,159.0 after the department store chain operator reported strong quarterly results in the nine-month period ending in September.
Consolidated gross sales for the nine-month period increased 10.3% to 315.9 billion yen, pre-tax profit soared 65.4% to 49.4 million yen, and basis earnings per share inched higher to 143.04 yen from 142.84 yen.
- Akira Ito
- 26 Dec, 2024
- Tokyo
Stock market indexes in Tokyo advanced for the second session in a row amid interest rate uncertainties and elevated geopolitical tensions.
The Nikkei 225 stock average gained 0.9%, and the broader TOPIX index advanced 1.1%, as investors debated future rate paths in the months ahead.
The Japanese yen drifted to 157.44 against the U.S. dollar.
Japan has engaged in unusual and aggressive diplomatic efforts in wooing the incoming U.S. presidential administration, as Prime Minister Shigeru Ishiba's administration looks to ramp up defense spending and provide additional economic stimulus.
The LDP-led coalition government made a number of concessions to opposition parties in passing new legislation, raising hopes that the government will provide additional stimulus to low-income and senior citizens.
Moreover, Japan's government is also looking to ramp up its defense spending amid rising threats from the rapidly modernizing and aggressive Chinese military.
Financial markets in Europe, Australia, and Hong Kong are closed for a holiday on Thursday, and December 30th is the last trading day for Japanese markets.
Bank of Japan Governor Kazuo Ueda said in a speech that Japan's economy is moving closer to achieving sustainable 2% inflation but failed to clarify the central bank's stance ahead of the next policy meeting in January.
The Bank of Japan is likely to hold rates at its next meeting, awaiting spring wage negotiations and clarity on the trade policy of the incoming U.S. presidential election in early February.
Japan Stock Movers
The Nikkei 225 Stock Average rose 0.9% to 39,499.14, and the broader TOPIX index advanced 1.1% to 39,499.14.
Tech stocks advanced in Tokyo following gains in New York in Tuesday's trading.
Tokyo Electron increased 0.6% to ¥23,830.0, Advantest Corp. increased 1.2% to ¥9,095.0, and Screen Holdings decreased 0.2% to ¥9,397.0.
Financial stocks traded mixed after the yen drifted lower as investors dialed down rate-increase expectations at the next policy meeting in January.
Sumitomo Mitsui Financial Group advanced 1.2% to ¥3,742.0, Mizuho Financial Group gained 0.9% to ¥3,863.0, and Mitsubishi UFJ Financial Group increased 0.6% to ¥1,811.0.
Toyota Motor jumped 6% to ¥3,142.0, Honda Motor added 3.8% to ¥1,500.0, Nissan Motor increased 6.6% to ¥552.40, and Mitsubishi Motor advanced 6.5% to ¥562.90.
Toyota Motor said it plans to increase its return on equity to 20% by 2030.
Japan Airlines declined 0.3% to ¥562.90 after the company confirmed a cyberattack early this morning disrupting its internal and external systems.
The company said the attack started at 7:24 a.m. Tokyo time, forcing the airline to temporarily disable its network router, leading to system malfunctions and suspension of its ticketing system.
Fast Retailing advanced 0.3% to ¥53,250.0, Isetan Mitsukoshi jumped 7.6% to ¥2,711.50, and Seven & I Holding Co. Ltd. decreased 0.5% to ¥2,452.50.
J. Front Retailing soared 8.3% to ¥2,159.0 after the department store chain operator reported strong quarterly results in the nine-month period ending in September.
Consolidated gross sales for the nine-month period increased 10.3% to 315.9 billion yen, pre-tax profit soared 65.4% to 49.4 million yen, and basis earnings per share inched higher to 143.04 yen from 142.84 yen.
- Arun Goswami
- 26 Dec, 2024
- Mumbai
Stock market indexes lacked direction and momentum in thin trading as investors reviewed portfolios ahead of the close of the calendar year.
The Sensex index decreased by 0.1% to 78,412.81, and the Nifty index rose by 0.01% to 23,742.75.
On the Mumbai stock exchange, 128 stocks traded at their 52-week highs, and 51 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched higher to 6.80%, and the Indian rupee eased to 85.28 against the U.S. dollar.
Indian Oil Corporation decreased 0.2% to ₹137.92, and the company said it plans to invest ₹61,000 crore to build a naphtha cracker project in Paradip, Odisha.
Ola Electric Mobility Ltd. gained 1.4% to ₹95.36 after the company claimed its distribution network of stores has increased to 4,000 from 800 last month.
Walchand Nagar Industries Ltd. rose 1% to ₹262.25 after the company received an order worth ₹45 crore from Flourine Korea Ltd.
Max India Ltd. declined 1.2% to ₹276.40 after the diversified real estate and insurance company sold three floors in Max Towers located in Noida, Uttar Pradesh, for a total consideration of ₹105 crore.
Bharat Petroleum Corporation advanced 0.7% to ₹294.25, and the company was deemed as the lowest bidder for NTPC's 150 MW solar power project.
Ramkay Infrastructure Ltd. increased 2.9% to ₹621.15 after the company received an order worth ₹215 crore from Hyderabad Metropolitan Water Supply & Sewage Board.
NALCO increased 2.2% to ₹218.15, and the company signed a coal mining agreement for two blocks in Odisha with the ministry of coal, increasing its annual coal production to 4 million or 40 lakh tons.
NTPC Green Energy declined 4.8% to ₹126.70 after the one-month lock-up period for shareholders expired following the company's initial public offering.
- Arun Goswami
- 26 Dec, 2024
- Mumbai
Stock market indexes lacked direction and momentum in thin trading as investors reviewed portfolios ahead of the close of the calendar year.
The Sensex index decreased by 0.1% to 78,412.81, and the Nifty index rose by 0.01% to 23,742.75.
On the Mumbai stock exchange, 128 stocks traded at their 52-week highs, and 51 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched higher to 6.80%, and the Indian rupee eased to 85.28 against the U.S. dollar.
Indian Oil Corporation decreased 0.2% to ₹137.92, and the company said it plans to invest ₹61,000 crore to build a naphtha cracker project in Paradip, Odisha.
Ola Electric Mobility Ltd. gained 1.4% to ₹95.36 after the company claimed its distribution network of stores has increased to 4,000 from 800 last month.
Walchand Nagar Industries Ltd. rose 1% to ₹262.25 after the company received an order worth ₹45 crore from Flourine Korea Ltd.
Max India Ltd. declined 1.2% to ₹276.40 after the diversified real estate and insurance company sold three floors in Max Towers located in Noida, Uttar Pradesh, for a total consideration of ₹105 crore.
Bharat Petroleum Corporation advanced 0.7% to ₹294.25, and the company was deemed as the lowest bidder for NTPC's 150 MW solar power project.
Ramkay Infrastructure Ltd. increased 2.9% to ₹621.15 after the company received an order worth ₹215 crore from Hyderabad Metropolitan Water Supply & Sewage Board.
NALCO increased 2.2% to ₹218.15, and the company signed a coal mining agreement for two blocks in Odisha with the ministry of coal, increasing its annual coal production to 4 million or 40 lakh tons.
NTPC Green Energy declined 4.8% to ₹126.70 after the one-month lock-up period for shareholders expired following the company's initial public offering.