Asian stocks gained on Thursday after Wall Street brushed aside strong U.S. inflation data and surged, a counterintuitive move that also saw the dollar pinned at two-week lows even as Treasury yields jumped in anticipation of a quicker pace of U.S. interest rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent. Australian stocks climbed 0.8 percent and South Korea’s KOSPI advanced 1.1 percent. Japan’s Nikkei jumped 1.1 percent following three successive days of losses that took it to a four-month low the previous day. Wall Street surged on Wednesday, with the Dow up 1 percent and the S&P 500 climbing 1.34 percent, as investors shrugged off the stronger-than-expected inflation data and snapped up shares of Facebook, Amazon.com and Apple . U.S. consumer prices rose more than expected in January as Americans paid more for gasoline, rental accommodation and healthcare, further raising inflation concerns and the prospect of the Federal Reserve hiking interest rates more than initially expected. That drove U.S. Treasury yields on most maturities higher on Wednesday, with those on benchmark 10-year notes hitting a four-year high. The dollar index against a basket of currencies was slightly lower at 88.980 after losing more than 0.6 percent overnight despite the strong inflation number. The recovery in broader risk sentiment was seen weighing on the dollar, which had gained during the market turmoil earlier in the month. The U.S. currency has been buffeted by a variety of setbacks this year, including from prospects Washington might pursue a… [Read full story]
Stocks rally despite cautious investor sentiment Kim Ngan HCMC – The HCMC exchange on December 21 closed up after two days of losses despite weak sentiment, with the VN-Index adding over four points (0.65%) at 666.94. According to Maybank Kim Eng Securities Company, a selloff hit stocks in the early morning session. Bottom fishing became strong in the rest of the day, thus prompting the main index to nudge higher at the close. Blue chips SAB and VNM, which dropped in the previous sessions, stole the limelight on December 21. The former soared almost 1.9% and the latter added 1.2%.…... [read more]
Ho Chi Minh City's VN-Index edged up one point, or 0.19 percent, to close at 526.98 on Friday following a surge in world oil prices. Today saw more than 22.5 million shares worth VND858 billion change hands. Among the index members, 84 advanced, 60 fell and 12 stayed put. Hoa Phat Group Joint-Stock Co. dropped VND3,500, or 4.5 percent, to VND74,000, its first decline since August 5. The company received permission from the Ho Chi Minh Stock Exchange on August 20 to list more than 56 million additional shares, according to a statement posted on the exchange's Web site after…... [read more]
Stock rallies extend Kim Ngan HCMC – The VN-Index of the HCMC exchange closed up 0.34% at 676.46 points for a second session on November 8 as various stocks advanced further. According to Dau tu Chung khoan newspaper, investors were cautious in morning trade while pending the U.S. presidential election. Investor sentiment improved in the afternoon session as stock traders reacted to news that the most recent polls have put Democrat Hillary Clinton ahead of Republican rival Donald Trump in the November 8 election. The newspaper said that though the VN-Index did not end at an intraday high, it surpassed…... [read more]
Strong selling energy chokes stock rallyBy Thuy Trieu - The Saigon Times DailyHCMC – The southern market on Wednesday continued to spread its rally but at a slower pace due to strong selling pressure on profit taking. The VN-Index finally rose 4.23 points, or 0.96%, to 444.79 points, close to the psychological level of 450 points.The demand slightly increased to 130 million shares but investors boosted offer to 95.2 million shares, increasing 43.2% from the previous session. Investors traded 57.6 million shares worth VND1.93 trillion in total, rising 9% and Market breath was narrower as the market saw 100 stocks…... [read more]
European stocks rallied Tuesday in a second day of gains after recent sharp losses, on the hope that EU leaders will firm up action on tackling the eurozone debt crisis and solid US housing data. At close, London's benchmark FTSE 100 index of top companies gained 1.86 percent to 5,403.28 points, while Frankfurt's DAX 30 rose 1.65 percent to 6,435.60 points and Paris' CAC 40 jumped 1.88 percent to 3,084.09 points. Milan closed 3.4 percent higher and Madrid won 2.10 percent. In foreign exchange deals, the euro fell to $1.2744 from $1.2815 late in New York on Monday. The dollar…... [read more]
