TNS ASIA MORNING BRIEF: Markets up Tue on gains led by commodity shares
By Sophia Rodrigues
AUCKLAND, Dec 21: TickerNews Service briefing on Asia markets this morning:
TOPICS: MARKETS UP; KOSPI LEADS; COMMODITY SHARES SURGE; KOSPI STEEL
-----------------------------------------------------------------------
*ASX 200 4770, up 0.72% *Nikkei 225 10291, up 0.74% *CSI300 3185, up 0.21%
*Hang Seng 22791, up 0.67% * Kospi 2040, up 1.01% * STI 3140, up 0.23%
-----------------------------------------------------------------------------
SHARES UP
Asian shares were up Tuesday, with Kospi leading the gains, after tensions in the Korean peninsula abated.
Analysts said Korean stocks are among the cheapest now and therefore there is a rush to buy them. Steel shares led the surge in Korea followed by shipping and retail stocks.
Commodity shares led the gains across all the other markets tracking the rise in crude oil and metal prices.
In Australia, both banking and mining shares rose as sentiment was also helped by news of merger and acquisition.
The Nikkei 225 was led higher by gains in blue-chip and information technology shares.
Chinese stocks were up on strong gains in property shares. In Hong Kong, oil and property stocks boosted the index.
Singapore stocks rose on gains mainly in oil-related companies' shares and property shares.
AUSTRALIA
The ASX/200 index was up on gains led by banking and mining stocks.
Among banking stocks, Westpac rose 0.4%, ANZ Bank added 1.5%, National Australia Bank rose 1% and Commonwealth Bank gained 0.7%.
In the mining space, BHP Billiton gained 1.1%, Rio Tinto rose 1% and Fortescue Metals added 1.1%.
Atlas Iron fell 3% while Giralia rose nearly 39% after Atlas Iron announced a takeover offer for all of Giralia shares.
Oil shares were mostly up tracking gains in crude oil price. Woodside Petroleum rose 0.2% and Santos added 0.8%.
JAPAN
The Nikkei 225 was up largely on bargain buying but trading was thin ahead of a holiday on Thursday.
Blue-chip stocks were trading up with Canon gaining 1%, Sony 1.7% and Toshiba 0.3%.
Shinsei Bank outperformed, with the stock rising 5.6%, after the company announced it was re-organising consumer finance business and strengthening retail banking operations.
Fuji Heavy rose 0.6% on hopes it would ink a deal with Chery Automobile of China.
Among chip stocks, Tokyo Electron rose 1%, Kyocera Corp 1.2% and Advantest 0.2%.
KOREA
The Kospi was up on strong gains led by steel stocks.
POSCO was an outperformer, with the stock surging 4.5% on news the company may be interested in acquiring Korea Express stake from Asian Airlines. Asiana shares rose 2% and Korea Express added 4.2%.
Shipping stocks were up with Hanjin Shipping gaining 3.7% an STX Pan Ocean rising 1.3%.
Automobile shares were mostly up with Daewoo Motor Sales gaining 4.5% and Kia Motor rising 0.2% but Hyundai Motor fell 1.7%.
Financial stocks were mixed with Shinhan Group down 1% and KB Financial shedding 2.2% but Korea Exchange Bank rose 2.2%.
CHINA
Chinese stocks were marginally up on gains led by property and resources stocks.
In the resources sector, Jiangxi Copper rose 0.9%, Western Mining added 0.9% and Aluminium Corp rose 1%.
Among property stocks, Vanke rose 4.2%, Gemdale added 4.5% and Wolong Real Estate rose 2.9%.
Steel shares were up with Wuhan Iron up 0.9%, Baoshan Iron gaining 1.4% and Minmetals rising 6.5%.
Among insurance stocks, Air China rose 0.6%, and China Pacific added 1.2%.
HONG KONG
The Hang Seng index was up on gains led by property and bank stocks.
Among property stocks, Cheung Kong rose 1.4%, Sino Land added 2.2% and New World Development rose 2%.
In the banking sector, HSBC rose 1%, ICBC added 1% and Bank of Communications rose 2.9%.
China Shenua Energy rose 4.2% after the company said it was buying coal and utility assets from its parent.
Among resource stocks, Chalco rose 1.4%, Zijin Mining added 0.7% and Jiangxi Copper rose 0.8%.
Oil stocks also outperformed, tracking gains in crude oil price. CNOOC rose 2.3%, Sinopec added 1.6% and Petrochina rose 1.4%.
SINGAPORE
The Singapore index was up on gains led by property and oil-related stocks.
Among property shares, Capitaland rose 0.8%, City Development added 0.8% and Keppel Land gained 1.1%.
Among oil-related shares, Keppel Corp rose 0.9% and Sembcorp Marine gained 0.8%. (End)
Filed by Harold Rasquinha
Phone: +91 (22) 6147 5100. feedback@tickerplantindia.com
Copyright (c) TickerPlant Ltd.
Post a Comment