Monday’s World Markets Outlook: Asia-Pacific

MSCI’s broadest index of Asia-Pacific shares sans Japan rose 0.1% in early trade, while Japan’s Nikkei gained 1.1% ahead of an earnings heavy week.

Philippine shares fell Monday following a warning that the coronavirus pandemic will likely send the economy into its first annual contraction in more than two decades this year, while financials helped Singapore rise after five sessions of losses.

Philippine gross domestic product would likely shrink by 0.2% in 2020 before bouncing back to about 7.7% as policy support measures gain traction, the central bank governor said Saturday.

The benchmark Philippine stock index declined as much as 1.6% to a 3-wk low. Consumer stocks led the fall, with conglomerate SM Investments shedding 3.4% to its lowest since 31 March, while food and beverage company Universal Robina Corp fell 1.5%.

Indonesian shares slipped as much as 0.4%. Both property developer Nusantara Properti International and cosmetic products maker Mustika Ratu fell by 7%.

Singapore’s FTSE Straits Times Index led gains in the region, with a rise of up at 1.5%, its best intraday jump since 17 April.

Thai shares gained as much as 1.1%, lifted by industrial and utility stocks.

Malaysian stocks strengthened up to 0.5%, helped by the healthcare and telecom sectors.

India’s NSE Nifty 50 index advanced 1.7% at 9,310.15 by 0346 GMT, while the benchmark S&P BSE Sensex gained 1.74% at 31,850.43.

Chinese shares climbed Monday on a drop in new coronavirus cases in the country and hopes for more stimulus to counter the outbreak’s economic impact.

By the midday break, the Shanghai Composite index was up 0.7% at 2,828.13 pts, as investors also awaited the rescheduled date for the parliament’s Key annual meeting.

China’s blue-chip CSI300 index was up 1.06%, with its financial sector sub-index 1.51% higher, the consumer staples sector up 1.25%, the Real Estate index up 1.29% and the Healthcare sub-index up 2.23%.

The smaller Shenzhen index was up 0.69% and the start-up board ChiNext Composite index was higher by 1.42%.

Japanese shares rose Monday as some better-than-expected earnings lifted market sentiment even as underlying worries about the outlook tempered overall demand.

The gains came just before the Bank of Japan’s widely anticipated decision to further expand monetary stimulus.

The benchmark Nikkei average advanced 1.2% at 19,678.87 by the midday break, during which the BoJ announced measures to ease corporate funding strains, including increased buying of commercial paper and corporate bonds.

Australian shares fell Monday as dismal results and a dividend cut from National Australia Bank hit its peers, while some investors held their bets ahead of a slew of central bank meetings this week.

A subindex of financial stocks gave up 1.4%. Though trading in NAB shares was halted, peers Westpac and Australia and New Zealand Banking Group shed more than 3% each and were the biggest losers on the benchmark index.

They led the S&P/ASX 200 index down 0.4% to 5,224.5 by 0035 GMT. Last week, it recorded its 1st weekly decliner in 5, mainly due to a historic crash in Crude Oil prices that cast doubt over the speed of economic recovery.

The New Zealand stock market was closed for a holiday. 

ASIA- PACIFIC INDICES

Data as of 27 April 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index2:38am EDT126.84+2.29+1.84%
.TRXFLDHKPThomson Reuters Equity HK Index2:38am EDT274.52+5.09+1.89%
.TRXFLDINPThomson Reuters Equity India Index2:38am EDT1,068.33+19.06+1.82%
.N225Nikkei Stock Average 2252:15am EDT19,783.22+521.22+2.71%
.HSIHang Seng Index2:54am EDT24,270.30+438.97+1.84%
.AORDASX All Ordinaries Index2:17am EDT5,388.30+87.60+1.65%
.KS11KOSPI Index2:30am EDT1,922.77+33.76+1.79%
.SETISET Composite Index1:29am EDT1,266.80+8.02+0.64%
.JKSEJakarta Composite3:08am EDT4,498.86+2.79+0.06%
.PSIPSE Composite Index12:50am EDT5,450.45-14.53-0.27%
.SSECShanghai Composite Index2:54am EDT2,815.54+7.01+0.25%
.BSESNS&P BSE Sensex2:54am EDT32,007.45+680.23+2.17%
.FTFBMKLCIFTSE Bursa Malaysia KLCI2:53am EDT1,376.43+6.58+0.48%
.HNX30HNX 30 Index23 Apr 2020203.52+0.48+0.24%

Have a healthy week, Keep the Faith!

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