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Asian and Australian Stocks While You Were Sleeping

May 09, 2018

Asian & Australian Markets

  • Asian equities finished mixed with the Hang Seng (+0.44%) and Sensex (+0.31%) carrying over positive momentum from yesterday, while the Nikkei 225 closed 0.45% lower. Volume across major Asian markets was mixed, with the Nikkei trading 14.4% above its 10-day average, while there was less trading in the Hang Seng (19.6% below average) than usual
  • All sectors in the Nikkei 225 were negative, with healthcare (-2.37%) being the largest laggard. Energy (+2.35%) was a significant outperformer in the Hang Seng, but consumer discretionary stocks (-0.71%) disappointed. All sectors in the Sensex, except for consumer staples (-0.14%), were positive
  • Market breadth for Asian markets was mixed overall. The advance/decline ratios of Hang Seng, Sensex, and Nikkei 225 were 1.9, 1.2 and 0.5, respectively
  • Australian equities advanced with the ASX +0.26%. Energy stocks (+1.34%) were the best performers in the ASX 200, while financials (-0.51%) finished as the only sector in the red. Market breadth in the ASX 200 was decidedly positive with 128 stocks advancing (59 declines). The ASX 200 traded nearly 11% below its 10-day average volume

Asian Outlook

  • A report in the Nikkei Asian Review cited remarks by Changyong Rhee, the Asia and Pacific director of the IMF, that Asian economies will receive a 0.1% to 0.5% increase in GDP due to US tax cuts, which has led to increased demand for foreign products
  • Average wage growth in Japan for March came in higher than expected on a y/y basis (+2.1% vs 1.1% projected), which was the biggest average wage increase in 15 years
  • China’s Ministry of Commerce (MOC) released data showing that Chinese outward foreign investment totaled $28.2 billion in 1Q2018, an increase of 16.2% y/y
  • The Indian government is planning a 70% “safeguard” tariff on the import of solar panels from China and Malaysia as the country attempts to become less dependent on foreign assistance for electricity. Currently, India acquires 88% of its solar equipment from China

Australian Outlook 

  • Australia’s Federal Budget for 2018/2019 was slightly more positive than expected. The Australian government projects an AUD$14.5 billion deficit in 2019, which is softer than the consensus of an AUD$15.0 billion deficit. The government of Australia forecasts a return to a budget surplus in FY2020, one year earlier than previously estimated
  • As part Australia’s Federal Budget, a AUD$13.4 billion, four-year long, tax package was included which will provide tax cuts to low and mid income households

Nikkei 225 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Showa Denko KK TSE:4004 4045 275 7.29% 6.10M
Asahi Group Holdings Ltd TSE:2502 5904 394 7.15% 3.22M
COMSYS Holdings Corp TSE:1721 3100 183 6.27% 1.49M
Tokai Carbon Co Ltd TSE:5301 1603 91 6.02% 32.06M
Asahi Glass Co Ltd TSE:5201 4770 250 5.53% 1.85M

 

Underperformers Ticker Price Chg % Chg Volume
Yokogawa Electric Corp TSE:6841 2085 -287 -12.10% 4.29M
Tokyo Electric Power Co Holdings Inc TSE:9501 547 -50 -8.38% 72.81M
MINEBEA MITSUMI Inc TSE:6479 2108 -129 -5.77% 7.12M
Oki Electric Industry Co Ltd TSE:6703 1419 -83 -5.53% 1.37M
Otsuka Holdings Co Ltd TSE:4578 5324 -308 -5.47% 1.86M

Hang Seng Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
PetroChina Co Ltd SEHK:857  5.95 0.25 4.39% 286.70M
Wharf Real Estate Investment Co Ltd SEHK:1997 59.70 1.90 3.29% 4.79M
CNOOC Ltd SEHK:883  13.52 0.30 2.27% 43.70M
China Petroleum & Chemical Corp SEHK:386  7.88 0.17 2.20% 159.92M
Want Want China Holdings Ltd SEHK:151  7.08 0.15 2.16% 16.63M

 

Underperformers Ticker Price Chg % Chg Volume
China Resources Power Holdings Co Ltd SEHK:836  14.94 -0.34 -2.23% 6.88M
WH Group Ltd SEHK:288  7.93 -0.08 -1.00% 30.62M
Sino Land Co Ltd SEHK:83  13.20 -0.12 -0.90% 3.36M
Sands China Ltd SEHK:1928 45.90 -0.40 -0.86% 6.82M
Galaxy Entertainment Group Ltd SEHK:27  67.90 -0.55 -0.80% 9.87M

Sensex Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Tata Motors Ltd BSE:TTMT/A 196.85 7.25 3.82% 243.01k
Tata Motors Ltd BSE:TTMT 341.35 9.25 2.79% 999.91k
Asian Paints Ltd NSEI:APNT 1224.10 18.5 1.53% 165.71k
Tata Consultancy Services Ltd NSEI:TCS 3489.10 48 1.39% 49.79k
Axis Bank Ltd BSE:AXSB 548.60 7.35 1.36% 711.98k

 

Underperformers Ticker Price Chg % Chg Volume
Sun Pharmaceutical Industries Ltd NSEI:SUNP 506.30 -5.20 -1.02% 196.08k
Maruti Suzuki India Ltd BSE:MSIL 8713.60 -61.55 -0.70% 17.83k
ICICI Bank Ltd NSEI:ICICIBC 307.10 -2.15 -0.70% 893.09k
Wipro Ltd BSE:WPRO 270.50 -1.80 -0.66% 93.15k
Mahindra & Mahindra Ltd NSEI:MM 860.05 -5.55 -0.64% 72.88k

ASX 200 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
WiseTech Global Ltd ASX:WTC 12.73 0.68 5.64% 927.19k
Challenger Ltd/Australia ASX:CGF 12.52 0.62 5.21% 4.02M
CYBG PLC ASX:CYB 5.79 0.28 5.08% 4.36M
Janus Henderson Group PLC ASX:JHG 43.65 1.55 3.68% 447.30k
Infigen Energy ASX:IFN 0.74 0.025 3.50% 2.88M

 

Underperformers Ticker Price Chg % Chg Volume
Greencross Ltd ASX:GXL 4.18 -1.18 -22.01% 7.65M
Incitec Pivot Ltd ASX:IPL 3.55 -0.20 -5.33% 13.76M
Link Administration Holdings Ltd ASX:LNK 7.90 -0.40 -4.82% 9.16M
Seven West Media Ltd ASX:SWM 0.705 -0.035 -4.73% 8.50M
CSR Ltd ASX:CSR 5.41 -0.25 -4.42% 12.11M