From Steffen Gosenheimer
TOKYO / SHANGHAI (Dow Jones) – The East Asian stock markets showed mostly small losses in the middle of the week. In Australia, which mostly adheres more closely to the US guidelines, the trend is just maintained after the strong plus of the previous day. Brsians speak of profit-taking after only going up in some places for days.
Tokyo is still doing best, where the Nikkei index increased minimally by 0.1 percent to 23,620 points. Stocks from the financial sector are under pressure. Traders refer to the significantly lower yields on the bond market in the USA. A low level of interest rates is unfavorable for banks because, among other things, it means lower margins in the lending business. Bank stocks in Europe and Wall Street had already done badly on Tuesday.
Mizuho Financial Group are down 2.4 percent and Mitsubishi UFJ Financial Group by 1.3 percent. Bank stocks are also falling in Australia. ANZ come back by almost 1 percent, Westpac by 1.9 percent. The Bank of Queensland shares are an exception. After the quarterly report was presented, it increased by 4.7 percent.
In Hong Kong, the HSI fell by just under 0.3 percent after trading there the day before due to a typhoon warning. KGI Securities speaks of profit-taking after the solid profits in the past few weeks. The experts advise keeping an eye on financial stocks that could benefit from capital market reforms in Shenzhen.
China Evergrande collapse by 16 percent
China Evergrande is under pressure after the debt-struggling real estate company announced a capital increase, with the new shares being offered at a hefty 15 percent discount. China Evergrande buckle by over 16 percent.
Great Wall Motor made a leap of a good 10 percent upwards, thus continuing the upward trend of the previous day at an accelerated rate. The carmaker had recently presented better than expected business figures for September. The analysts at Citi have now raised their forecasts significantly.
In Seoul, investors initially held back and waited for the latest decisions by the South Korean central bank. As expected, this has left the key interest rate unchanged, whereupon the Kospi gives in a little.
For Apple supplier LG Innotek, it is up another 2.2 percent after Apple presented a new 5G-capable iPhone model. LG Chem give up another 1.7 percent. The fact that Hyundai Motor had to start a recall campaign due to problems with batteries from LG Chem in its electric models is a further burden. On Monday, LG Chem announced strong figures for the quarterly report for the coming week.
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Index (Brse) last +/-%% YTD end
S & P / ASX 200 (Sydney) 6,189.60 -0.10% -7.40% 07:00
Nikkei-225 (Tokyo) 23,620.36 + 0.08% -0.23% 8:00 am
Kospi (Seoul) 2,393.12 -0.42% + 8.89% 08:00
Shanghai Comp. 3,341.73 -0.54% + 9.56% 09:00
Hang-Seng (Hong Kong) 24,583.40 -0.27% -12.57% 10:00
Straits-Times (Sing.) 2,553.52 -0.55% -20.80% 11:00
KLCI (Malaysia) 1,520.28 -0.32% -4.00% 11:00
Forex last +/-% 00:00 Tue, 9:29% YTD
EUR / USD 1.1745 -0.0% 1.1747 1.1785 + 4.7%
EUR / JPY 123.81 -0.1% 123.92 124.24 + 1.6%
EUR / GBP 0.9079 -0.0% 0.9082 0.9043 + 7.3%
GBP / USD 1.2937 -0.0% 1.2938 1.3031 -2.4%
USD / JPY 105.42 -0.1% 105.50 105.44 -3.0%
USD / KRW 1143.17 -0.5% 1148.90 1148.27 -1.0%
USD / CNY 6.7379 -0.1% 6.7467 6.7447 -3.2%
USD / CNH 6.7327 -0.1% 6.7367 6.7426 -3.4%
USD / HKD 7.7501 + 0.0% 7.7501 7.7500 -0.5%
AUD / USD 0.7172 + 0.2% 0.7160 0.7176 + 2.3%
NZD / USD 0.6664 + 0.2% 0.6651 0.6646 -1.0%
Bitcoin
BTC / USD 11,408.08 -0.4% 11,450.01 11,449.01 + 58.2%
ROHL last VT-Settl. +/-% +/- USD% YTD
WTI / Nymex 40.11 40.20 -0.2% -0.09 -29.5%
Brent / ICE 42.37 42.45 -0.2% -0.08 -30.9%
METALS last previous day +/-% +/- USD% YTD
Gold (spot) 1,896.06 1,890.30 + 0.3% + 5.76 + 25.0%
Silver (spot) 24.19 24.18 + 0.0% +0.01 + 35.5%
Platinum (spot) 876.75 868.50 + 0.9% + 8.25 -9.2%
Copper future 3.05 3.04 + 0.2% + 0.01 + 8.0%
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Contact the author: maerkte.de@dowjones.com
DJG / DJN / gos / ros
(END) Dow Jones Newswires
October 14, 2020 00:52 ET (04:52 GMT)
