Asia Pacific Market: Shares rise in thin trade

Asia Pacific share market advanced in thin trade on Friday, 03 April 2015, as investors reluctant to hold more active positions due to lack of cues from regional market and on caution ahead of the release of key U.S. employment figures later on Friday for clues about timing for the Federal Reserve interest rates hike. Trading volumes were light with most markets in the region including Taiwan, Australia, New Zealand, Singapore, Indonesia, Hong Kong, and India shuttered for the Easter holiday.

U.S. data on Thursday showing an unexpected fall in the number of Americans filing new claims for unemployment benefits raised hopes for another strong labour reading, but not all strategists were convinced that the consensus expectation would be met. A weaker-than-expected jobs report would prompt investors to increase bets that the Fed might hold off on raising interest rates until late this year.

Nikkei rises for 0.6% in thin trade

Japanese share market closed higher in light volume, as investors continued value buying after heavy losses early this week. But gains were limited on caution ahead of the release of key U.S. employment figures later on Friday for clues about timing for the Federal Reserve interest rates hike. The benchmark Nikkei 225 index advanced 122.29 points, or 0.63%, to finish at 19435.08, while the broader Topix index of all first-section shares grew 10 points, or 0.64%, to 1564.16.

Shares of export related companies mostly advanced after the dollar was relatively little changed, sitting at 119.72 yen versus its 119.65 yen on Thursday. Honda Motor Co jumped 1.4% after posting an almost 15% gain in China sales for March, while shares of Nissan Motor Co added 0.5% despite saying its own Chinese new-vehicle sales were down more than 5% from a year earlier. Toyota Motor Corp added 0.6% after reports that the company was planning to end its freeze on factory construction and set up new plants in China and Mexico.

Sony Corp rose 3.4% after the company announced a purchase of patents from soon-to-shutter videogame-streaming company OnLive. Nippon Express Co climbed up 1.8% after reports that the air-cargo company's operating profit to show a 20% rise for the just-ended fiscal year.

DeNA Co jumped 9.3% after Mitsubishi UFJ Morgan Stanley Securities upgraded it to "overweight" from "neutral", citing expectations for monetizing Nintendo Co's intellectual property as the two companies develop game apps for phones and tablets.

China market hits fresh seven year high

Mainland China share market closed higher in volatile trade, amid hopes for more structural reforms to boost economic growth after mixed HSBC/Markit China Services Purchasing Managers' Index (PMI) figures. The Shanghai Composite Index advanced 38.15 points, or 1% to 3863.93 at the close, its highest level since March 2008 and capping a 4.7% weekly advance. The CSI300 index, the largest listed companies in Shanghai and Shenzhen, grew 45.76 points, or 1.11%, to 4170.54. China's market will be shut on April 6 for a holiday.

HSBC/Markit China Services Purchasing Managers' Index (PMI) edged up to 52.3 in March from 52.0 in February, indicating the services sector expanded in March but growth in employment and new business fell to their lowest in at least eight months, in yet another sign that the weak Chinese economy may need more policy aid. China's official nonmanufacturing Purchasing Managers' Index dropped to 53.7 in March from 53.9 in February, the China Federation of Logistics and Purchasing said on Wednesday.

All ten SSE industry groups advanced, with information technology issue leading the rally, up 2.3%, followed by financial (up 1.6%), consumer discretionary (up 1.3%), healthcare (up 1%), materials (up 0.9%), utilities (up 0.9%), consumer staples (up 0.6%), industrials (up 0.3%), energy (up 0.1%), and telecommunication services (up 0.1%).

Among most active stocks- Guoyuan Securities Co. rose 6.3% on a plan to sell new shares in a private placement. Hebei Iron & Steel Co. jumped by the 10% daily limit. China Vanke Co. slid 1% after saying profit fell as much as 61% in the first quarter from a year earlier.

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