Global stocks mostly gain on eco­nomic data, China hopes

The China Post - - BUSINESS INDEX & -

Global stock mar­kets mostly climbed Tues­day, boosted by pos­i­tive data from ma­jor economies and hopes for stim­u­lus in China.

France’s CAC 40 added 0.2 per­cent to 5,092.19 in early trad­ing and Ger­many’s DAX edged up 0.1 per­cent to 12,095.24. But the UK’s FTSE 100 fell 0.1 per­cent to 6,883.22. U.S. shares were set to drift some­what lower. S&P 500 fu­tures dipped 0.2 per­cent to 2,072.10.

Mar­kets are be­ing cheered by pos­i­tive data from the U.S. and Europe, and are ex­pect­ing gen­er­ally fa­vor­able com­pany earn­ings re­ports as well. A Euro­pean Com­mis­sion sur­vey has shown eco­nomic sen­ti­ment at its high­est since July 2011. Con­sumer spend­ing edged up in the U.S. in Fe­bru­ary fol­low­ing two straight monthly de­clines, and con­sumers’ in­comes rose a solid 0.4 per­cent.

Asian mar­kets mostly rose af­ter China’s de­ci­sion to ease mort­gage rules fu­elled hopes for fur­ther stim­u­lus mea­sures, but af­ter­noon profit-tak­ing pared a morn­ing rally, with Tokyo and Shang­hai end­ing more than one per­cent lower.

Syd­ney added 0.78 per­cent, or 45.4 points, to 5,891.5 and Seoul put on 0.54 per­cent, or 10.99 points, to 2,041.03.

But Tokyo — which at one point Tues­day was up al­most one per­cent — slipped 1.05 per­cent, or 204.41 points, to fin­ish at 19,206.99 as in­vestors booked prof­its on the last day of the fi­nan­cial year.

How­ever, the mar­ket still rose more than 11 per­cent in the Jan­uary-March quar­ter.

Hong Kong’s bench­mark Hang Seng In­dex added 45.77 points, to 24,900.89 on turnover of HK$148.88 bil­lion (US$19.21 bil­lion).

The Peo­ple’s Bank of China on Mon­day said it would lower min­i­mum down pay­ments on sec­ond homes from 60-70 per­cent to 40 per­cent in a bid to boost the trou­bled sec­tor and give a boost to the slow­ing econ­omy.

Among Tues­day’s gain­ers Ten­cent rose 1.73 per­cent to HK$147.20, Cathay Pa­cific added 0.90 per­cent to HK$17.94 and China Mo­bile put on 0.70 per­cent to end at HK$101.20.

How­ever, HSBC lost 0.45 per­cent to HK$66.65, Hutchi­son fell 0.65 per­cent to HK$107.60 and Hen­der­son Land cent to HK$54.45.

In main­land China the bench­mark Shang­hai Com­pos­ite In­dex lost 1.02 per­cent, or 38.67 points, to 3,747.90 on turnover of 721.3 bil­lion yuan ( US$117.4 bil­lion). The in­dex has surged more than 13 per­cent in the past three weeks.

The Shen­zhen Com­pos­ite In­dex, which tracks stocks on China’s sec­ond ex­change, rose 0.53 per­cent, or 10.34 points, to 1,958.40 on turnover of 553.7 bil­lion yuan.

Con­struc­tion firms also fell in Shang­hai. China Rail­way Con­struc­tion lost 3.38 per­cent to 18.59 yuan and China Rail­way Erju eased 3.11 per­cent to 23.39 yuan.

China South­ern Air­lines fell 3.53 per­cent to 7.92 yuan in Shang­hai af­ter it re­ported its 2014 net profit dropped 10.55 per­cent year-over-year to 1.78 bil­lion yuan.

Gold fetched US$ 1,183.06 against US$1,185.40 late Mon­day. In other mar­kets: — Bangkok ended up 0.63 per­cent, or 9.43 points, at 1,505.94.

Bum­run­grad Hos­pi­tal, a popular des­ti­na­tion for med­i­cal

lost 0.27 per- tourists, jumped 3.40 per­cent to 152.00 baht while Kasiko­rn­bank rose 0.88 per­cent to 229.00 baht.

— Mumbai fell marginally by 0.07 per­cent, or 18.37 points, to end at 27,957.49.

Oil & Nat­u­ral Gas Cor­po­ra­tion fell 2.51 per­cent to 306.80 ru­pees, while Tata Power gained 3.42 per­cent to 77.10 ru­pees.

— Jakarta rose 1.47 per­cent, or 80.02 points, to 5,518.68.

In­done­sian-based au­to­mo­tive busi­ness As­tra In­ter­na­tional rose 2.39 per­cent to 8,575 ru­piah, while food pro­ces­sor Ind­o­food Suk­ses Mak­mur fell 0.33 per­cent to 7,450 ru­piah.

— Kuala Lumpur gained 0.49 per­cent, or 8.95 points, to close at 1,830.78.

AMMB Hold­ings added 0.95 per­cent to 6.36 ring­git and Te­naga Na­sional rose 0.28 per­cent to 14.36. Telekom Malaysia fell 0.55 per­cent to 7.27 ring­git.

— Sin­ga­pore eased 0.21 per­cent, or 7.25 points, to 3,447.01.

Oil rig maker Kep­pel Corp was down 0.44 per­cent to SG$9.00 while Sin­ga­pore Tele­com gained 0.46 per­cent to SG$4.38.

— Welling­ton added 0.22 per­cent, or 12.70 points, to 5,833.98.

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