Australian shares jump nearly 1%
Asian shares were higher yesterday, following the Dow Jones coming within inches of hitting the 20,000 mark during last Friday's session.
The ASX 200 finished up 0.9 per cent or 51.82 points at 5,8074, seeing broad gains across all sub-indexes except for materials and gold.
Fortescue Metals was down 3.79 per cent at A$5.84 per share while Rio Tinto was off 1.3 per cent at A$59.35, after Australia's Department of Industry, Innovation and Science forecasts iron ore prices at $51.60 a tonne this year and $46.70 in 2018, compared to current spot prices of around $80.
In South Korea, the Kospi wavered between negative and positive territories, and closed down 0.02 per cent at 2,048.78.
Shares of Samsung Electronics were up 2.82 per cent to 1,861,000 won ($1,542) each, after the company said last Friday that its fourth-quarter profit likely jumped 50 per cent year-on-year, beating estimates on strong chip sales and rebound in smartphone sales. The positive outlook comes despite a slight fall in revenue and negative impacts from the cancellation of the fire-prone Galaxy Note 6.
"We believe Samsung Electronics' earnings power should substantially improve in terms of stability and visibility, thanks to diversified earnings stream and much differentiated competitiveness especially in NAND and OLED," said CIMB in a note released last Friday. NAND is a type of flash technology used in memory cards, while OLED is an organic compound used for electronic screen displays.
Across the Korean peninsula, North Korea had announced Sunday that it could test the launch of its intercontinental ballistic missile at any time from any location, Reuters reported.
In response, US Defence Secretary Ash Carter said that North Korea›s arms development was a serious threat to the US, and that it was prepared to shoot down a North Korean missile launch or test.
China's Shanghai composite closed up 0.55 per cent or 17.27 points at 3,171.59, while Shenzhen composite ended up 0.303 per cent or 6.02 points at 1,994.15. In Hong Kong, the Hang Seng index was up 0.12 per cent by mid-afternoon.
Shares of ZTE were down 3.71 per cent at 15.05 yuan per share, after the telecom equipment maker announced it would cut about 3,000 jobs, which is around 10 per cent of total jobs.
Japanese bourses were closed for a holiday.
Last Friday on Wall Street, the Dow Jones industrial average reached a new all-time intraday high, coming within 0.37 points of hitting the elusive 20,000 mark, before closing up 0.32 per cent at 19,963.8. The S&P 500 rose 0.35 per cent at 2,276.9, while the Nasdaq composite closed up 0.6 per cent at 5,521.06, both closing at record highs. The dollar index, which measures the greenback against a basket of six major currencies, last traded at 102.37. It had traded at a range of 101.3 to 103.82 last week.
Against the dollar, the yen fetched 117.46 while the Australian dollar stood at $0.7307 compared to levels as low as 0.718 last week.
The Chinese yuan was trading at 6.9333 against the greenback, after the yuan mid-point was set at 6.9262 compared to its last close at 6.933.
Last Saturday, China released its currency reserves for December, which fell by $41.1 billion to $3,010.5 billion. It was the six consecutive monthly decline.
«The reserve drawdown largely reflects capital outflow and the People›s Bank of China›s intervention in the foreign exchange markets. In December the spot dollar/yuan depreciated by 0.9 per cent, although the china Foreign Exchange Trade System (CFETS) currency remained roughly stable,» said economists at Citi, in a note on Monday.
Brent futures slipped during Asian hours, down 0.39 per cent at $56.88 a barrel, while US crude futures dipped 0.46 per cent at $53.74.
- China to provide 90 water bowsers worth Rs 1b 2103
- Wag the Dog 2127
- A brief look at FARC’s origins in Colombia 2067
- ‘Panama Papers’ bags Pulitzer 2080
- SAITM will cooperate with Govt 2093
- dead man was near fashion mall 2122
- Japanese MPs back Lanka’s development 2092
- CB Bond earnings whitewashed – JVP 2101
- Talks to extend Lanka’s Continental Shelf 2091
- Ex-DIG and son re-remanded 2102
- Government can be sent home 2637
- GMOA flogging SAITM for Mahinda– Rajitha 2103
- Ranil invites Japan to invest in S. Asia 2087
- Somali Pirates’ Captives Back Home 2089
- Customs in Rs 8 M bust 2095
- May Day Rally …or the Boot ! 2066
- Auspicious Times presented to President 2070
- Johnston sacked SLFP reshuffles K’gala 2893
- Singapore in the crossfire 2968
- Park impeachment and SK foreign policy 2921
- Filipino Oconer wins overall title 1730
- Unsporty conduct by Joes 1762
- Bertie Wijesinghe, pre-Test era Sri Lankan cricketer, dies aged 96 1748
- CEAT revs up for 2017 1731
- Palace shock Arsenal 1726
- Argentina fire coach Bauza 1737
- BCCI postpones SGM to 18 April 1727
- Murray returns from injury 1723
- New mum Azarenka to return to WTA 1717
- Galle win by 188 runs 1715
- Kapugedera ton boosts Kandy 1689
- Pakistan charges Jamshed in spot-fixing case 1686
- IAAF clears seven more Russians to compete 1685
- Game evenly poised 1682
- Saumy Zainab wins Championship 1731
- Keeping Cool 1735
- Do the right thing and do it now! 1735
- Ravi Jayewardene Pious son of a political giant 2307
- Minorities’ frustration a powder keg – VIDURA 2073
- Administrative powers a must for the Plantation Tamils –Radhakrishnan 1329
- Rajapaksa sought advice from McGuinness– Indika Perera 2424
- SilkAir launches direct flights to Colombo 1766
- Rupee falls on thin volumes 1729
- SriLankan, Japan Airlines add new routes 1750
- Colombo Port box volume up 5.6-pct in Jan 1730
- Private sector to transform into main domestic growth engine 1751
- Oil eases from 5-week top, rising US production weighs 1721
- Tight fiscal and monetary policies constrain SL’s growth 1739
- Shell admits dealing with money launderer 1738
- Toshiba may sell chip business to Foxconn for $27bn 1726
- Asian shares pressured by geopolitical risks; Nikkei down 0.25% 1728
- SLIM launches Certificate in Digital Marketing 1734
- Microsoft Hosts Second ‘Device Day’ in Sri Lanka 1728
- Emirates named Best Airline in the World 1728
- Turkish Airlines and social media assist Somalia 1729
- Brain cell therapy ‘promising’ for Parkinson’s disease 1731
- Trump pushed into bombing Syria 1774
- Thailand discovers Power of Women Travellers 1741
- Economics of gambling 1604
- Trans National Aural Identity 3303
- Queen Anula The Shadow of Cleopatra 3328
- Poetry and its possibilities Part 2 3350
- The Enigma of Labyrinths 3452
- From Couture to Kutir 3324
- Hybrid Sources 4725
- With a festive bang! 954
- Easter Fun 951
- Arrogance and crowing is the way of the doomed 970
- Avurudu on the streets 988
- Tick control 955
- Sunny Sunday on the beach 965
- It’s time to save the world 1032
- From viewer to YouTuber! 1026
- Expert skincare and makeup 1041
- Avurudu at Induruwa 1006
- Exo 1033
- Remembering our fallen heroes 2112