ASIA MARKETS: Asian Stocks Mostly Up After Upbeat Manufacturing Data From China
01 Noviembre 2016 - 4:41AM
Noticias Dow Jones
By Willa Plank
Signs that China's economy is stabilizing; BOJ holds firm
Asian markets were mixed Tuesday after the release of
encouraging economic data from China and decisions by the Bank of
Japan and the Reserve Bank of Australia to largely hold their
policies steady.
Hong Kong's Hang Seng Index closed up 0.9% and the Shanghai as
0.7% higher. The Hang Seng China Enterprises Index, which tracks
large mainland Chinese companies trading in Hong Kong, was up 1.5%.
All three indexes were buoyed by better-than-expected data on
Chinese manufacturing activity.
China's official manufacturing purchasing managers index rose to
51.2 in October
(http://www.marketwatch.com/story/china-manufacturing-pmi-at-highest-since-july-2014-2016-11-01)
from 50.4 in September, adding to signs that the world's
second-largest economy is stabilizing. A measure above 50 indicates
growth.
"It's really good...generally, it's very encouraging," said
Margaret Yang, market analyst at CMC Markets, about the PMI data.
"I think that it's going to provide support for industrial
metals."
Separately, the Caixin manufacturing PMI for China came in at
51.2 in October, up from 50.1 in September.
Japan's central bank kept its policies mostly unchanged
(http://www.marketwatch.com/story/bank-of-japan-lowers-inflation-outlook-holds-off-on-more-stimulus-2016-10-31)
Tuesday. The BOJ said it would keep its deposit rate steady at
minus 0.1% and would continue to target a zero yield for 10-year
Japanese government bonds. Its only notable move was to push back
the timeline for achieving 2% inflation by one year, to fiscal
2018.
Japan's Nikkei Stock Average closed up slightly at 0.1% after
the BOJ decision, while the yen slipped 0.1% against the U.S.
dollar.
The Reserve Bank of Australia kept its cash rate target
unchanged at 1.5%
(http://www.marketwatch.com/story/australias-central-bank-keeps-rates-unchanged-2016-10-31)
in a widely expected decision, saying the current rate was
consistent with its growth and inflation targets.
The Australian dollar gained 0.7% against the U.S. dollar after
the decision, as traders had priced in the possibility of a rate
cut.
Australia's S&P/ASX 200 index traded down 0.5%, as Woodside
(WPL.AU) eclined 1.3% and BHP Billiton (BHP.AU) was down 1.2%.
South Korea's Kospi benchmark ended slightly down by 0.04% after
the release of export data.
Korean exports shrank in October, crimped by the global recall
of Samsung Electronics' defective Galaxy Note 7 smartphone. But the
pace of decline was slower than in the previous month. Exports
declined 3.2% in October from a year earlier, largely in line with
the median market forecast for a 3% drop. That followed a 5.9% fall
in the previous month. Imports slipped 5.4% from a year
earlier.
Analysts said South Korea's overseas shipments would likely stay
pressured as the Note 7 debacle continued to drag down Samsung's
sales.
Shares of Japanese electronics maker Panasonic (6752.TO) were
down 6.5% after the company cut its profit forecast for the fiscal
year ending March. Industrial robot maker Fanuc (6954.TO) was down
4.3% in Tokyo after it posted slower sales and profits for the
half-year ended September.
The market will be keeping an eye on the U.S. Institute for
Supply Management's manufacturing PMI data due later Tuesday, U.S.
monthly jobs data set to be released Friday and the nation's
presidential election next week.
Read:U.S. stocks set for gains after upbeat Chinese factory data
(http://www.marketwatch.com/story/us-stocks-set-for-gains-after-upbeat-chinese-factory-data-2016-11-01)
(END) Dow Jones Newswires
November 01, 2016 06:26 ET (10:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Woodside Petroleum (ASX:WPLCD)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Woodside Petroleum (ASX:WPLCD)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024