Tuesday, April 29, 2014

Asian shares mixed ahead of key data



A man stands outside a securities firm in Tokyo on Monday, April 28, 2014. Asian markets were mixed in edgy trade Tuesday following a pick-up on Wall Street as investors await key economic news from around the world later in the week. AP PHOTO/JUNJI KUROKAWA



HONG KONG—Asian markets were mixed in edgy trade Tuesday following a pick-up on Wall Street as investors await key economic news from around the world later in the week.


The dollar maintained the gains against the yen it achieved in New York as dealers took in their stride a new wave of sanctions against Russia over its role in the Ukraine crisis.


Seoul slid 0.23 percent, or 4.49 points, to 1,964.77 while Sydney lost 0.89 percent, or 49.5 points, to finish at 5,486.6. Tokyo was closed for a public holiday.


Shanghai rose 0.84 percent, or 16.85 points, to 2,020.34 and Hong Kong added 1.45 percent, or 321.36 points, to end at 22,453.89 after falling almost two percent in the previous two sessions.


US shares mostly bounced back on Monday after tumbling at the end of last week, with attention now on a Federal Reserve announcement Wednesday on plans for its stimulus program.


On Friday non-farm payrolls data will be released, giving a handle on the state of the world’s No. 1 economy.


Friday will also see the release of surveys of manufacturing activity from around the world, with the main focus on China. Dealers are hoping for signs that a recent slowdown in the Asian economic giant has bottomed out.


On Wall Street the Dow added 0.53 percent and the S&P 500 rose 0.32 percent but the Nasdaq dipped 0.03 percent.


Singapore’s United Overseas Bank (UOB) said traders were exercising caution “ahead of the US Fed meeting and US non-farm payroll data, as well as a holiday shortened trading week.”


There was little reaction to another round of US sanctions against seven Russian officials and 17 Kremlin-linked firms. The European Union said it was adding 15 names to its own list.


The Western sanctions are a response to Russia’s perceived failure to implement an April 17 deal struck in Geneva to defuse the crisis.


In Seoul market major Samsung Electronics sank 2.02 percent after saying operating profit fell for a second straight quarter owing to slowing sales of its smartphones.


The dollar bought 102.62 yen, compared with 102.45 yen late in New York and well up from 102.20 yen earlier Monday in Asia.


The euro fetched $1.3864 against $1.3851, while it was also at 142.27 yen from 141.95 yen.


Oil was up in Asia. US benchmark, West Texas Intermediate for June delivery, climbed 35 cents to $101.19 in afternoon trade. Brent North Sea crude for June rose 44 cents to $108.56.


Gold fetched $1,290.38 an ounce at 1050 GMT compared with $1,301.45 on Monday.


In other markets:


– Bangkok added 0.08 percent, or 1.10 points, to 1,412.33.


Department store operator Central Pattana gained 3.45 percent to 45 baht, while coal producer Banpu rose 1.77 percent to 28.75 baht.


– Jakarta closed higher 0.02 percent, or 0.92 points, at 4,819.68.


State-controlled miner Aneka Tambang fell 0.83 percent to 1,200 rupiah, while palm oil producer Astra Agro Lestari rose 1.75 percent to 29,000 rupiah.


– Kuala Lumpur inched up 0.19 percent, or 3.6 points, to 1,859.34.


Telecommunications company Maxis gained 0.4 percent to 6.92 ringgit, while utility Tenaga Nasional rose 0.5 percent to 11.90.


– Manila gained 0.49 percent, or 32.10 points, to 6,636.45.


Ayala Corp. added 0.73 percent to 618.50 pesos while Alliance Global Group rose 0.16 percent to 30.65 pesos.


– Mumbai fell 0.73 percent, or 165.42 points, to 22,466.19.


Jindal steel slid 7.41 percent to 253.20 rupees and Future Retail fell 6.49 percent to 121.05 rupees.


– Singapore slid 0.15 percent, or 4.97 points, to 3,237.74.


Oil rig maker Keppel Corp. gained 0.38 percent to Sg$10.56 while vehicle distributor Jardine Cycle and Carriage eased 2.02 percent to Sg$46.54.


– Taipei rose 0.71 percent, or 62.4 points, to 8,872.11.


Taiwan Semiconductor Manufacturing Co. added 1.26 percent to Tw$120.5 while leading cellphone camera lens maker Largan Precision shed 2.51 percent to Tw$1,940.


– Wellington climbed 0.64 percent, or 32.49 points, to 5,149.29.


Fletcher Building was up 0.92 percent at N$9.85 and Telecom added 2.06 percent to NZ$2.72.—Danny McCord





seo tools

No comments:

Post a Comment