Asian and Australian Stocks While You Were Sleeping

Jun 01, 2018

Japanese Markets

• Japanese stocks finished lower today with the Nikkei 225 down 0.14%
• Financials (+0.53%), materials (+0.50%), and healthcare (+0.10%) were the biggest outperformers in the Nikkei 225
• Consumer staples (-0.94%), telecommunications (-0.38%), and consumer discretionary stocks (-0.44%) were the worst performers in the Nikkei 225
• Market breadth in the Nikkei 225 was positive with 116 stocks advancing, compared to 103 declines
• Volume in the Nikkei 225 was 9.94% above its average 10-day levels
• Japan’s final manufacturing PMI for May came in at 52.8, slightly higher than preliminary results (52.5), but below April levels (53.8 PMI in April)

Chinese Markets

• Chinses and Hong Kong stocks were mixed today with the Hang Seng up 0.08%, the CSI 300 down 0.84%, and the Shanghai Composite declining 0.66%
• Energy (+1.71%), information technology (+0.72%), and telecommunications (+0.63%) sectors produced the highest returns in the Hang Seng
• Consumer discretionary (-2.57%), utilities (-0.35%), and financials stocks (-0.14%) were the largest laggards in the Hang Seng
• Market breadth in the Hang Seng was relatively neutral with 23 stocks advancing while 22 stocks finished lower
• Volume in the Hang Seng was significantly higher than usual (+36.04% compared to 10-day average volume)
• According to a Xinhua report, China will be cutting tariffs on 1,449 consumer goods items starting on July 1^st. The average tariff rate on these goods will decline from 15.7% to 6.9%
• A Wall Street Journal report states that the Chinese government has been buoying the country’s stock market, to ensure that it appears less volatile and is in-line with China’s political objectives

Indian Markets

• Indian stocks closed lower with the Sensex falling 0.27%, and the Nifty 50 retreating by 0.37%
• Materials (-1.63%), financials (-0.62%), and consumer staples stocks (-0.63%) were the most significant decliners in the Sensex today
• Consumer discretionary (+1.68%) and energy stocks (+0.47%) were the only Sensex sectors in positive territory
• Market breadth in the Sensex was negative as only 12 out of 31 stocks advanced
• Volume across Indian markets was only 1.94% above its 10-day average
• India’s 1Q2018 GDP grew 7.7% on a Y/Y basis, which was above expectations (+7.3% GDP growth projected)

Australian Markets

• Australian stocks declined today, with the ASX 200 receding 0.36%
• The telecommunications (-0.96%), financials (-0.88%), and energy sectors (-0.82%) were the biggest underperformers in the ASX 200
• Healthcare (+0.60%) and materials stocks (+0.48%) were only positive ASX 200 sectors
• Market breadth in the ASX 200 was notably negative with 65 stocks advancing while 119 stocks declined
• Volume in the ASX 200 was ~85% of its average 10-day levels

Highlights from the Asian/Australian Bond Market

• Hong Kong treasuries are selling-off, with yields on the Hong Kong 10-year bond up 3.o basis points to 2.017%
• Yields on the Japanese 10-year bond are up 1.4 basis points to 0.038%
• Australian treasuries are declining today, with yields on the Aussie 10-year bond up 3.1 basis points to 2.698%
• Indian treasuries are falling, and yields on the Indian 10-year bond are up 2.4 basis points to 7.850%

What is Going on with Asian/Australian Currencies?

• AUD$ is 0.49% weaker against the USD$, to AUD$1.32/USD$
• CNY¥ fell 0.15% in relation to the USD$, to CNY¥6.42/USD$
• INR ? has appreciated by 0.50% compared to the USD$, to INR ?67.06/USD$
• JPY¥ has depreciated by 0.75% relative to the USD$, to JPY¥109.68/USD$

*Data in Price Return

Nikkei 225 Movers

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Hang Seng Movers

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Sensex Movers

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ASX 200 Movers

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