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Asian Stocks While You Were Sleeping

May 11, 2018

Japanese Market Recap

  • Japanese stocks rose sharply with the Nikkei 225 +1.16%
  • Outperformance in telecommunication services (+2.50%) and industrials (+1.38%) led markets higher. All other sectors were positive but underperformed relative to the broader Nikkei 225
  • Market breadth was positive in the Nikkei 225 (163 advances, 59 declines)
  • Volume in Tokyo was 3.19% higher than its 10-day average
  • Japan’s M2 money supply in April grew 3.3% on a y/y basis, softly above expectations of a 3.2% increase
  • A Reuters study determined that the consensus forecast is for Japan’s 1Q2018 GDP to show a 0.2% decrease. This decline would be in sharp contrast to Japan’s 1.6% GDP growth in 4Q2017 and would end a streak of 8 consecutive quarters of GDP growth. Japan’s 1Q GDP is scheduled to be released on May 16th
  • The Nikkei Asian Review has reported that corporate profit for Japanese firms is expected to decline by around 4% in FY18. The report cited rising resource prices, slowing smartphone sales, as well as the appreciation of the yen as causes for lower profitability

Chinese Market Recap

  • Chinese and Hong equities finished mixed with the Hang Seng +1.02%, while the CSI 300 fell 0.52%, and the Shanghai Composite declined 0.35%
  • All sectors in the Hang Seng were in the black, with consumer discretionary (+2.39%), real estate (+1.22%), and financials (+1.14%) being the best performers
  • Market breadth in the Heng Seng was overwhelmingly positive with 43 of 50 stocks advancing
  • Volume in the Hang Seng was relatively in-line with its 10-day average (-0.73%), while volume in Shanghai was down nearly 11% against its 10-day average
  • A new symptom of Sino-American trade tensions has emerged as Chinese customs officials have reportedly been delaying US imports at Chinese ports. The products being held-up range from autos to agricultural products such as pork

Indian Market Recap

  • Indian stocks advanced across the board with the Sensex +0.82% and the Nifty 50 +0.84%
  • Materials (+4.07%) were the most significant outperformer in the Sensex, with consumer discretionary being the largest laggard (+0.16%)
  • Market breadth in the Sensex was notably positive with 22 stocks advancing, while 8 stocks declined
  • Volume in the Sensex was slightly softer than usual, falling 3.45 below its 10-day average

What is Going on with Asian Currencies?

  • Japanese Yen¥ has appreciated 0.14% against the USD$
  • China’s Renminbi has advanced 28bps in relation to the USD$

Highlights from Asian Bond Markets

  • Indonesian 10-year bonds rallying significantly, yields on the 10-year down 22bps
  • Yields on the 10-year Philippines bonds are down 0.08%
  • Hong Kong 10-year bond yields are nearly 0.04% higher 

 

Nikkei 225 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Taiyo Yuden Co Ltd TSE:6976 2288 276 13.72% 8.48M
Suzuki Motor Corp TSE:7269 6143 505 8.96% 5.36M
Chiyoda Corp TSE:6366 1120 64 6.06% 3.27M
Marui Group Co Ltd TSE:8252 2369 127 5.66% 2.40M
JGC Corp TSE:1963 2638 132 5.27%

2.44M

 

Underperformers Ticker Price Chg % Chg Volume
Sapporo Holdings Ltd TSE:2501 2920 -160 -5.19% 1.44M
Sumitomo Dainippon Pharma Co Ltd TSE:4506 1837 -93 -4.82% 2.53M
NH Foods Ltd TSE:2282 4470 -225 -4.79% 1.25M
Nippon Kayaku Co Ltd TSE:4272 1311 -62 -4.52% 1.28M
Inpex Corp TSE:1605 1384 -65 -4.49% 11.18M

Hang Seng Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Geely Automobile Holdings Ltd SEHK:175  23.55 0.85 3.74% 76.88M
Swire Pacific Ltd SEHK:19   79.15 2.30 2.99% 2.39M
AIA Group Ltd SEHK:1299 72.80 1.70 2.39% 24.98M
China Merchants Port Holdings Co Ltd SEHK:144  17.88 0.40 2.29% 6.11M
Sands China Ltd SEHK:1928 47.35 1.00 2.16% 10.81M

 

Underperformers Ticker Price Chg % Chg Volume
Sunny Optical Technology Group Co Ltd SEHK:2382 142.30 -1.00 -0.70% 5.73M
MTR Corp Ltd SEHK:66  45.45 -0.25 -0.55% 4.80M
BOC Hong Kong Holdings Ltd SEHK:2388 40.65 -0.20 -0.49% 10.87M
PetroChina Co Ltd SEHK:857  6.03 -0.02 -0.33% 144.19M
CNOOC Ltd SEHK:883  13.86 -0.04 -0.29% 58.03M

Sensex Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Asian Paints Ltd NSEI:ASIANPAINT 1289.60 74.90 6.17% 306.09k
Tata Steel Ltd BSE:500470 606.65 12.90 2.17% 455.99k
Larsen & Toubro Ltd BSE:500510 1387.05 23.05 1.69% 89.37k
Yes Bank Ltd BSE:532648 349.95 5.25 1.52% 463.43k
Mahindra & Mahindra Ltd NSEI:M&M 869.00 12.60 1.47% 60.99k

 

Underperformers Ticker Price Chg % Chg Volume
Bharti Airtel Ltd BSE:532454 385.70 -26.55 -6.44 878.45k
Sun Pharmaceutical Industries Ltd NSEI:SUNPHARMA 471.85 -25.10 -5.05 750.91k
Tata Motors Ltd BSE:500570 330.75 -2.60 -0.78 484.58k
Hero MotoCorp Ltd BSE:500182 3616.15 -27.10 -0.74 61.33k
Oil & Natural Gas Corp Ltd NSEI:ONGC 187.30 -0.85 -0.45 245.14k