Among Asian bourses
Australia market ends flat
The Australian share market ended marginally higher after paring early gain. The market rally in early trade was inspired by gain in commodity price and retail trade data which boosted resources and consumer shares, but losses big banks and telecom stocks late afternoon trimmed market gain. The benchmark S&P/ASX 200 index ended 3.10 points, or 0.06%, higher at 5242.30 points, while the broader All Ordinaries index gained 3.60 points, or 0.07%, to 5294.80 points.
Market participants are waiting for this Friday's quarterly statement on monetary policy, where the RBA is expected to tweak its growth forecast. The RBA left interest rates on hold at a policy meeting Tuesday despite strong expectations it would cut in response to a moderation in third-quarter inflation. A large part of the market still expects the RBA to cut interest rates in the coming months. Swap-market pricing suggests it will happen at some point in the first half of 2016.
Financial sector ended softer, due to fall in three out of top four lenders. Westpac Banking Corp fell 0.1% to A$31.27, ANZ Bank 0.5% to A$26.87, and National Australia Bank 0.6% to A$29.91. Commonwealth Bank of Australia grew 0.2% to A$76.58. NIB Holdings rose 3.4 to A$3.68% after the health insurer announced a lift in full-year guidance following a better than expected first quarter.
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Materials and resources stocks ended higher, after the Australian Bureau of Statistics monthly figures showed the nation's trade deficit had narrowed more than expected in September, improving 15% to A$2.317 billion. BHP Billiton was higher by 2% to A$23.47 and Rio Tinto was up 0.5% to A$50.85. Fortescue Metals rose 1.4% to A$2.13.
Shares of retailers and consumer goods players were up after the Australian Bureau of Statistics monthly figures showed retail sales turnover increased in line with expectations in the month, up 0.4% to A$24.5 billion on a seasonally adjusted basis. Woolworths had lifted 0.4% to A$24 while Wesfarmers improved 0.4% to A$39.30. Meanwhile, Qantas gained 0.3% to A$3.83
Shares of energy companies were higher, as oil price gains overnight. Brent crude oil surged 3.5% to $50.51 a barrel. Woodside Petroleum added 0.2% to A$30.34, Oil Search rose 1% to A$7.98, and Origin added 0.2% to A$5.52. Oil and gas producer Santos declined 3.5% to A$5.99 on profit booking following sharp recent rally after announcing the sale of its Stag oil field to Malaysia's Sona Petroleum.
Nikkei bounces 1.3%
The Japanese share market ended sharp higher, as investor demand for equities underpinned after successful market debut of Japan Post shares. Total 25 out of 33 TSE first-section sector sub-indexes ended up, with Mining, Insurance, Oil & Coal Products, Iron & Steel, Glass & Ceramics Products, Nonferrous Metals, and Retail Trade issues being major gainers. The Nikkei Stock Average advanced 243.67 points, or 1.3%, to end at 18926.91 points. The broader Topix index has gained 0.88%, or 13.46 points, to 1540.43 at the close. Japanese market was closed on Tuesday for a holiday.
Among individual stocks, Japan Post shares - along with its banking and insurance units - were listed on the Tokyo bourse. Shares in Japan Post Holdings had soared 25.7% to 1,760 yen, well up from a 1,400 yen IPO price, while the banking unit's stock jumped 15.2% from their offering price to 1,671 yen. But the hotly anticipated insurance unit's offering was the leader, skyrocketing 55.9% to 3,430 yen.
TDK jumped 7.3% to 8,510 yen after Daiwa Securities boosted its rating on the stock and as the yen weakened on the dollar - a cheaper currency is a plus for the electronics components maker's exports.
Shares in Takata Corp slumped 13.4% to 1189 yen after top client Honda said it was dumping the Tokyo-based firm as a supplier. Takata was fined a record $200 million by US auto safety regulators on Tuesday after it provided inadequate and inaccurate information about its explosive airbags installed in millions of cars.
China market skyrockets 4.3%
The Mainland China stock market skyrocketed, on news of an exchange link between the Hang Seng and the mainland Shenzhen index as well as bullish comments from Chinese President Xi Jinping that the country can maintain its economic growth target of 7%. The Shanghai Composite Index advanced 4.31%, or 142.94 points, to close at 3459.64 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 5.12%, or 101.82 points, to close at 2089.29. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, was up 6.38%, or 155.05 points, to close at 2584.32.
China can maintain annual economic growth of around 7% over the next five years but there are uncertainties, including weak global trade and high domestic debt, Xinhua news agency quoted President Xi Jinping as saying on Tuesday.
Brokerages were higher on news of an exchange link between the Hang Seng and the mainland Shenzhen index, with Founder Securities Co. and Guosen Securities Co. surging by the 10% daily limit. Technology companies also jumped, with East Money Information Co. soaring 10%.
Shares of Fujian-related companies advanced after unexpected meeting between Xi Jinping and his Taiwanese counterpart Ma Ying-jeouhas in Singapore on Saturday, a key region for closer economic ties between Taiwan and China. Fujian-related stocks including Fujian Cement, Xiamen Airport and Xiamen ITG hit the daily upward limit of 10%.
Hong Kong market takes heart from US rally
Hong Kong stock market surged, as risk sentiments buoyed by speculation that Chinese authorities will open a trading link between the two cities by year-end. The benchmark Hang Seng Index advanced 485.14 points, or 2.15%, to 23053.57 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 277.32 points, or 2.7%, to 10560.74 points. Turnover soared to HK$112.1 billion from HK$64.6 billion on Tuesday.
Shares of brokerages houses went up on news of an exchange link between the Hang Seng and the mainland Shenzhen index. Hong Kong's stock exchange operator, Hong Kong Exchanges & Clearing (00388) ended up 5% to HK$209.2. Bright Smart (01428) shot up 9% to HK$2.67. Cinda Int'l (00111) and Haitong Sec (06837) also jumped 8%. First Shanghai (00227) leaped 16%. Shenwan Hongyuan (00218) surged 15%.
Energy stocks were also up after crude prices closed up 4% on Tuesday. CNOOC (00883) rose 5% to HK$9.25. PetroChina (00857) added 4% to HK$6.24. Sinopec (00386) put on 1.4% to HK$5.69.
Sensex ends 38 points down; Nifty below 8,050-mark
Indian stock market erased their initial gains in the last 30 minutes of trade and closed in red. The BSE Sensex closed 37.67 points down at 26,552.92 while NSE Nifty closed 20.50 points down at 8,040.20.
Bata India shares closed 2.32% down ahead of its second quarter earnings to be announced later in the day.
Shares in Nestle India closed 0.21% up after the company said samples of Maggi Noodles have been cleared by three laboratories.
Tata Motors rose over 6% hitting its highest intra-day level since July 13, driven by strong Jaguar Land Rover sales in North America in October.
Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 1.7% to 8857. South Korea's KOPSI added 0.2% to 2052.77. Singapore's Straits Times index gained 1.4% at 3040.48. Indonesia's Jakarta Composite index rose 1.8% to 4612.56. Malaysia's KLCI gained 0.5% to 1685.62. New Zealand's NZX50 grew 0.8% to 6071.21.
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