Asian and Australian Stocks While You Were Sleeping

May 15, 2018

Japanese Markets

  • Japanese equities closed lower with the Nikkei 225 -0.21%
  • All sectors in the Nikkei 225 were in the red, with the exception of consumer discretionary (+0.47%) and financials (+0.21%). Consumer staples (-0.63%) and industrials (-0.44%) were the worst performing sectors
  • Market breadth in the Nikkei 225 was negative with 99 stocks advancing, while 116 stocks declined
  • The Nikkei 225 traded at 111.27% of its average 10-day volume
  • According to a Reuters report, Bank of Japan Governor Karuhiko Kuroda remarked that the BOJ has “absolutely no plan” to raise interest rates at this time, with inflation still far away from the 2.0% goal
  • US ambassador to Japan William Hagerty stated that the US and Japan have been “moving rapidly” to create a new framework for improved bilateral trade between the countries
  • The Japanese government is considering tax reductions on housing and auto purchases, seeking to reduce the negative impact of tax increases scheduled to start next year. The Japanese government is attempting to raise revenue, without stalling economic growth

 

Chinese Markets

  • Chinese and Hong Kong equities finished mixed with the Hang Seng -1.23%, while the CSI 300 and Shanghai Composite advanced 0.38% and 0.57% respectively
  • There were no positive sectors in the Hang Seng. Information technology (-3.31%), industrials (-2.01%), and consumer discretionary (-1.90%) were the biggest laggards in the Hang Seng
  • Market breadth in the Hang Seng was overwhelmingly negative with 40 out of 50 stocks finishing lower
  • Volume in the Hang Seng was 4.69% below its 10-day average
  • Chinese unemployment in March was reported at 4.9%, 0.2% below February’s levels (5.1% unemployment prior)
  • China’s industrial production growth for April came in at +7.0% on a y/y basis, above the consensus of a 6.4% y/y increase
  • Retail sales in China in April grew 9.4% y/y, which was softer than expected (+10.0% y/y increase anticipated). Retail sales growth in China in March was 10.1% y/y.
  • Data released by China’s Ministry of Finance showed that the Chinese government’s fiscal revenue increased by 11% y/y in April to $291.6 billion, with tax revenue up 14.6% over the same time period
  • According to a Reuters report, US ambassador to China Terry Barnstad stated that the US and China are still “very far apart” in terms of resolving trade related issues

 

Indian Markets

  • Indian equities declined in today’s trading with the Sensex -0.10% and Nifty 50 -0.07%
  • Only the materials (+1.88%) and financials (+0.08%) sectors finished in positive territory in the Sensex. Consumer staples (-1.04%) and consumer discretionary (-0.97%) were the worst performing sectors in the Sensex
  • Market breath in the Sensex was relatively neutral with 14 stocks gaining on the day, compared to 16 stocks finishing down
  • Volume across India was 10.71% above its 10.71% higher than its 10-day average

 

Australian Markets

  • Australian equities declined today with the ASX 200 -0.61%
  • All sectors in the ASX 200 were negative. Telecommunications services (-5.07%), energy (-1.01%), and industrials (-0.98%) were the worst performing sectors in the ASX 200, while consumer discretionary (-0.13%), healthcare (-0.14%), and consumer staples (-0.22%) were relative outperformers
  • Market breadth in the ASX 200 was decidedly negative with only 68 out of 200 stocks advancing
  • Volume across Australia was relatively in-line with its normal levels (+2.92% above its 10-day average)
  • The RBA’s May meeting minutes indicated that continued increases in global inflation are anticipated, in contract to the expectation of weaker domestic Australian inflation. Recent CPI data released by the Australian government was in-line with consensus, and supports the RBA’s stance of Australia experiencing relatively below average inflation 
  • An Australian Financial Review report showed that the tax cuts proposed by the RBA would result in only marginal benefits to consumption, with Goldman Sachs estimating a 0.5% consumption increase in 2019/2020 from tax reductions
  • Guy Debelle, Deputy Governor of the RBA, remarked during a speech yesterday that the RBA’s fiscal policy may change depending on several factors including housing balance sheets, more stringent lending practices, and the length of time in which wage growth remains tepid
  • According to a Business Insider report, the increase in capital that middle class Australians would receive from the RBA’s proposed tax cut would be nullified by rising fuel costs

 

What is Going on with Asian Currencies?

  • The HKD$ is unchanged against the USD$
  • JPY¥ 0.55% lower compared to the USD$
  • CNY¥ is 0.43% weaker in relation to the USD$
  • INR has fallen 0.87% against the USD$
  • The AUD$ has depreciated by 78 bps against the USD$

*Data in Price Return

Nikkei 225 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Nippon Sheet Glass Co Ltd TSE:5202 1166 83 7.66% 8.48M
Kuraray Co Ltd TSE:3405 1897 90 4.98% 3.65M
Konica Minolta Inc TSE:4902 1007 35 3.60% 7.78M
NTT Data Corp TSE:9613 1220 39 3.30% 4.15M
Sony Financial Holdings Inc TSE:8729 2119 59 2.86% 1.46M

 

Underperformers Ticker Price Chg % Chg Volume
Pioneer Corp TSE:6773 162 -16 -8.99% 16.59M
Ebara Corp TSE:6361 3975 -365 -8.41% 1.33M
Nisshin Seifun Group Inc TSE:2002 2299 -164 -6.66% 2.52M
Mitsubishi Estate Co Ltd TSE:8802 2015.50 -110.50 -5.20% 12.18M
Kajima Corp TSE:1812 1013 -36 -3.43% 6.69M

Hang Seng Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Country Garden Holdings Co Ltd SEHK:2007 16.62 0.30 1.84% 61.44M
China Unicom Hong Kong Ltd SEHK:762  11.08 0.18 1.65% 31.26M
Hang Lung Properties Ltd SEHK:101  19.14 0.22 1.16% 3.44M
MTR Corp Ltd SEHK:66 46.35 0.45 0.98% 8.09M
China Resources Power Holdings Co Ltd SEHK:836  15.50 0.12 0.78% 6.61M

 

Underperformers Ticker Price Chg % Chg Volume
AAC Technologies Holdings Inc SEHK:2018 110.10 -5.70 -4.92% 19.78M
CK Hutchison Holdings Ltd SEHK:1  90.00 -3.20 -3.43% 6.80M
Tencent Holdings Ltd SEHK:700  398.00 -13.80 -3.35% 33.14M
Sunny Optical Technology Group Co Ltd SEHK:2382 149.60 -3.90 -2.54% 7.83M
China Mengniu Dairy Co Ltd SEHK:2319 27.05 -0.70 -2.52% 21.83M

Sensex Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Tata Steel Ltd BSE:500470 624.05 13.95 2.29 1.79M
Power Grid Corp of India Ltd BSE:532898 213.80 4.75 2.27 905.90k
Tata Consultancy Services Ltd NSEI:TCS 3482.50 45.70 1.33 39.57k
Kotak Mahindra Bank Ltd BSE:500247 1282.20 13.20 1.04 89.47k
Asian Paints Ltd NSEI:ASIANPAINT 1310.1 11.60 0.89 232.86k

 

Underperformers Ticker Price Chg % Chg Volume
Tata Motors Ltd BSE:500570 310.25 -13.90 -4.29 1.30M
Coal India Ltd NSEI:COALINDIA 264.00 -5.70 -2.11 141.34k
State Bank of India NSEI:SBIN 248.60 -4.75 -1.87 2.18M
Sun Pharmaceutical Industries Ltd NSEI:SUNPHARMA 468.25 -5.80 -1.22 655.91k
ITC Ltd NSEI:ITC 281.80 -2.65 -0.93 389.97k

ASX 200 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Blackmores Ltd ASX:BKL 132.25 6.80 5.42% 97.58k
Link Administration Holdings Ltd ASX:LNK 7.15 0.36 5.30% 14.75M
Sandfire Resources NL ASX:SFR 8.62 0.37 4.48% 2.60M
News Corp ASX:NWS 21.83 0.73 3.46% 431.46k
WiseTech Global Ltd ASX:WTC 14.16 0.35 2.53% 1.20M

 

Underperformers Ticker Price Chg % Chg Volume
Automotive Holdings Group Ltd ASX:AHG 3.10 -0.30 -8.82% 7.06M
Seven West Media Ltd ASX:SWM 0.70 -0.06 -7.33% 9.36M
Telstra Corp Ltd ASX:TLS 2.87 -0.17 -5.59% 88.86M
GWA Group Ltd ASX:GWA 3.74 -0.19 -4.83% 1.24M
Vocus Group Ltd ASX:VOC 2.59 -0.12 -4.43% 5.63M