China's GDP rose 7.7% in the fourth quarter from a year ago, slower than the 7.8% it posted in the third quarter, according to data released Monday by China's National Bureau of Statistics. For the year it also posted 7.7% growth, matching 2012.
China's industrial production climbed at the slowest pace since July after President Xi Jinping scrapped a goal of relatively fast growth in his first year in power. Industrial production rose 9.7% in December from a year earlier, data showed, down from a 10% gain in November. Retail sales last month rose 13.6% from a year earlier, slowing from 13.7% in November.
Fixed-asset investment in China excluding rural households increased 19.6% in the January-to-December period from a year earlier, when it expanded 20.6%.
Investors continued to watch U.S. data points for clues on the future course of monetary policy and to help assess the timing for a further reduction in the Fed's bond purchasing program after slew of mixed US economic data. U.S. housing starts fell 9.8% last month, while building permits rose less-than-expected in December, but remained close to November's five year highs. Separate reports showed that U.S. industrial production rose 0.3% in December, increasing for the fifth consecutive month, while consumer sentiment declined in January. The Fed is scheduled to meet January 28-29 to review the economy and assess policy.
Among Asian market, key benchmark indices of the Japan's share market declined as profit taking continued on blue chips on concerns that companies' valuation overstretched as compared their earnings prospects and as the US dollar weakened against the yen. The benchmark Nikkei225 index fell 92.78 points to 15641.68, while the Topix index of all first-section shares dropped 3.53 points to 1293.86.
Nintendo shares closed 6.2% down at 13745 yen, after falling as much as 19% intraday, after a surprise announcement Friday that it now expects a 25 billion yen fiscal-year net loss, down from a previous projection for a 55 billion yen profit. The video game console-maker's American Depository Receipts fell 17% in New York on Friday.
Industrial production in Japan slipped 0.1% in November from October, instead of a 0.1% increase estimated previously, final data from the Ministry of Economy, Trade and Industry showed Monday. In October, production was up 1%. Shipments remained flat in November compared to the initial estimate of 0.1% decline. The decline in inventory was revised to 1.8% from 1.9%. Inventory ratio dropped 1.2% versus the preliminary estimate of 1.4% decrease. Data today showed that capacity utilization slipped by seasonally adjusted 0.5% month-on-month in November. Compared to previous year, capacity utilization fell 2.8%.
In New Zealand, shares in New Zealand market closed mostly lower, with the benchmark NZX 50 Index down 0.1% to 4890.50 as the Wellington Anniversary holiday thinned out trading.
Retailer Hallenstein raised 2.9% to NZ$3.25 climbing up from a four-year low last week, after the clothing chain was forced to revise its first half earnings because of disappointing Christmas sales.
Magnitude 6.3 earthquakes struck the country's North Island today, shaking capital city Wellington and sending the New Zealand's currency lower. Meanwhile, the New Zealand dollar also fell on caution ahead of tomorrow's December inflation figures which are seen as feeding into the Reserve Bank's interest rate outlook. The kiwi traded at 82.43 US cents at 5pm in Wellington from 82.46 cents at 8am, down from 82.62 cents on Friday in New York. The trade-weighted index declined to 78.37 from 78.61 last week.
In Australia, Australian stock market finished the session slight lower after trimming intraday losses late afternoon, thanks to strength in materials and resources and precious metal counters that helped mostly offsetting losses in financials, retailers, consumer goods and tech players. The benchmark S&P/ASX 200 index declined 10.9 points, or 0.21%, to 5295. The broader All Ordinaries shed 8.80 points, or 0.17%, to 5307.60.
The Sydney market saw selling pressure since start today. The market was, however, regained some lost ground after China's quarterly growth data showed world second largest economy expanded 7.7% last year, slightly ahead of expectations.
Financial sector slipped 0.3% as investors continued offloading heavyweight lenders shares after Goldman Sachs said the valuations of most of the big four banks stretched after the sector's blockbuster share price increases of last year. Goldman Sachs analysts, meanwhile, predicted that Australian banks will continue to benefit from low bad debts and a recovery in credit growth over 2014.
Among top four lenders, Australia & New Zealand Banking Group declined 0.5% to A$30.87, National Australia Bank 0.3% to A$33.64, Westpac Banking Corp 0.2% to A$31.53 and Commonwealth Bank 0.2% to $75.32. Bendigo Bank (BEN) jumped 0.1% to A$11.61 while Bank of Queensland shed 0.4% to A$11.82.
Shares of Australia's precious metal miners were sharp higher, following a rise in the value of the precious metal on Friday. Australia's biggest gold miner Newcrest Mining (NCM) climbed up 0.6% to A$9.70, Perseus Mining added 13.5% to A$0.42 and Kingsgate Consolidated 10.4% to A$1.17.
Shares of uranium miner Paladin Energy (PDN) advanced 0.9% to A$0.565 on the top of 13% gain on last Friday after announcing it had agreed to sell 25% stake in its Langer Heinrich mine in Namibia to a Chinese state corporation for US$190 million.
In Taiwan, shares in Taiwan market climbed up, with benchmark Taiex index up 0.3% to 8621.56, thanks to upbeat export order data.
Taiwan's Ministry of Economic Affairs said on Monday that nation's export orders rose to a record in December, driven by new launches of consumer electronic devices and restocking demand ahead of a week-long Lunar New Year factory closure that starts later this month. Export orders, a harbinger of actual exports in one to two months, rose 7.4% on year in December to US$42.31 billion, faster than the 0.80% increase in November.
Orders from China and Hong Kong rose 6.9% to US$10.14 billion, reversing the 1.30% on-year decline in November. Demand from developed economies also improved. Orders from the U.S. were up 6.5% at US$10.63 billion following November's 4.0% decrease. Orders from Europe gained 11% to US$9.51 billion after a 9.8% rise in November.
In China, shares in Mainland China's market declined on Monday, 20 January 2014, after data confirmed suspicions of slowing growth. Meanwhile selling pressure intensified as soaring short-term funding costs deepened uneasiness that new listings will inject more competition for already limited cash. The Shanghai benchmark ended down 0.7% at 1,991.3 points, the first close below the 2,000 level since July 31.
The China's securities regulator has approved 52 companies to sell shares after the end of the IPO freeze. Eight companies said they expect to make their listing debuts in Shenzhen on Tuesday, with five on the ChiNext board.
China's benchmark seven-day repo rate soared by 44 basis points to 5.42% and overnight repo rate jumped 160 bps to 4.60% on Monday, stoking fears of a repeat of the end-June cash crunch. Demand typically rises near month-end, which in January coincides with the Lunar New Year. The nation's financial markets are closed from Jan. 31 through to Feb. 6 for the New Year holidays.
Among SSE sectors, all 10 sectors of the SSE index declined, with healthcare sector was worst performer amongst the SSE sectoral peers, declining 1.6%, followed by energy down 1.1%, consumer discretionary down 1.1%, materials down 1%, financial down 0.7%, information technology down 0.5%, utilities down 0.5% and telecommunication services down 0.2%.
In Hong Kong, headline index of the Hong Kong market declined with financials, developers, and resource-linked blue chips lead losses in tandem with the A-share market, where the Shanghai benchmark index lost the 2,000 mark after a slew of weaker than expected economic data. The benchmark Hang Seng Index provisionally finished 0.88% down from prior day at 22928.95.
Among the HK 50 blue chips, 41 fell and seven rose, with two stocks remaining steady. Lenovo (00992) put on 1.4% to HK$10.18. It was the top blue-chip winner. Ping An (02318) fell 2.5% to HK$67, becoming the worst performing blue chip.
China Mobile (00941) dipped 1.5% to HK$76.65 on slower growth of its net adds in December. China Unicom (00762) and China Telecom (00728) also fell 1.6% and 1.1% to HK$10.24 and HK$3.62.
Macau gaming players were mixed on news of growth in both hotel bookings and room prices during the Chinese New Year. Galaxy (00027) fell 0.5% to HK$82.75 after hitting high of HK$84.5. Sands China (01928) nudged up 0.6% to HK$65.24.
Hong Kong's seasonally adjusted unemployment rate decreased from 3.3% in September - November 2013 to 3.2% in October - December 2013. The underemployment rate remained unchanged at 1.4% in the two periods, data from the Census and Statistics Department showed.
In India, key benchmark indices edged higher on first trading day of the week after Reserve Bank of India (RBI) announced Open Market Operations to ease the strain on liquidity in the banking system and as investors welcomed Bharatiya Janata Party's (BJP's) prime ministerial candidate Narendra Modi's economic vision for India in a speech delivered on Sunday, 19 January 2014.
The S&P BSE Sensex garnered 141.43 points or 0.67% to 21,205.05, its highest closing level since 16 January 2014.
Investors cheered Bharatiya Janata Party's (BJP's) prime ministerial candidate Narendra Modi's economic vision for India in his speech on Sunday, 19 January 2014, wherein he said that if the BJP comes to power after Lok Sabha elections, his emphasis will be on urbanisation, infrastructure and inflation control and said his wish list also includes setting up 100 new smart cities and introduction of bullet trains to all four corners of the country.
Indian index heavyweight Reliance Industries (RIL) edged lower as the company's net profit remained flat in Q3 December 2013 due to fall in gross refining margins (GRM). UltraTech Cement shrugged off the company's weak Q3 result. Wipro hit 52-week high on strong Q3 result. HCL Technologies scaled record high. Infosys extended recent gains triggered by the company raising its revenue growth guidance for the year ending 31 March 2014.
Elsewhere in the Asia Pacific region, South Korea's KOSPI added 0.48%. Indonesia's Jakarta Composite index rose 0.44%. Malaysia's KLSE Composite lost 0.3%. Singapore's Straits Times index shed 0.6%.
Powered by Capital Market - Live News
