Seoul: Won, stocks recover as Fed Sept hike talk ebbs


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The South Korean won and shares rebounded early on Tuesday after US Federal Reserve Governor Lael Brainard’s comments made it more likely that the Fed will stand pat in September.

The won stood at 1,109.5 as of 0203 GMT, up 0.4 per cent compared with Monday’s close of 1,113.5.

The Korea Composite Stock Price Index (Kospi) was up 0.6 per cent at 2,003.54 points.

“If the Fed ends up keeping its rates unchanged for September, the won will be kept at its current level which is at around 1,100,” said June Park, a foreign exchange analyst at Daishin Economic Research Institute.

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Hong Kong, Shanghai: Stocks open higher


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HONG KONG Shares rallied in Hong Kong Tuesday morning after a top Federal Reserve official tempered comments from two colleagues on the possibility of a US rate hike this month.

The Hang Seng Index added 1.17 per cent, or 273.53 points, to 23,564.13.

And the benchmark Shanghai Composite Index added 0.10 per cent, or 3.05 points, to 3,025.03 while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, gained 0.54 per cent, or 10.71 points, to 1,987.77.

Singapore shares open 1.37% lower on Tuesday


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A STEEP Wall Street rebound overnight on dovish Federal Reserve comments failed to bring cheer to the Singapore stock market when it started trading on Tuesday, after a one-day public holiday.

At 9.02am, the benchmark Straits Times Index was down 39.47 points or 1.37 per cent at 2,833.86.

Some 92.4 million shares worth S$99.6 million were traded, with losers outpacing gainers 151 to 34.

Elsewhere in Asia, stocks joined the US equity rebound in the morning trading on the back of a continued dovish tone from Fed policymaker Lael Brainard in her approach to US monetary policy. This followed a sell-off on Monday stoked by rising bond yields and talk that US rates might rise as early as next week.

Asia: Stocks decline as Korean shares fall, investors weigh ECB


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Asian stocks fell as investors weighed the outlook for monetary policy in the US and Japan after the European Central Bank downplayed the need for more economic stimulus. South Korean shares dropped amid concern North Korea may have conducted a nuclear test.

The MSCI Asia Pacific Index dropped 0.7 per cent to 141.03 as of 10:49am in Tokyo. The measure is heading for a 2.1 per cent advance this week as traders pared bets the Federal Reserve will raise rates at its September meeting while speculation swirled over whether the Bank of Japan will add to already record stimulus.

Shares in the US and Europe fell after ECB chief Mario Draghi played down the prospect of an increase in asset purchases at a time when concern over the impact of Brexit on the euro area is mounting.

“While the ECB disappointed, we could still expect additional stimulus later in the year as there’s so much uncertainty in Europe,” James Woods, a strategist at Rivkin Securities in Sydney, said by phone.

Hot stock: Ezra falls 3.4% amid high volumes, attracts SGX query


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SHARES of Ezra Holdings fell 3.4 per cent to 5.6 Singapore cents in Friday early morning trade, as trading volumes of the counter surged.

Some 158.3 million shares of the offshore support provider had changed hands as at 10.07am, drawing a query from the Singapore Exchange (SGX).

On Thursday, Ezra was also one of the most active counters on the SGX, jumping nearly 35 per cent or 1.5 cents to close at 5.8 cents, with 182.1 million shares traded.

Hong Kong: Stocks extend gains at open


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Hong Kong stocks rose in early trade, adding to the previous day’s rally on upbeat Chinese trade data, while investors await the release of mainland inflation figures.

The Hang Seng Index added 0.20 per cent, or 46.68 points, to 23,966.02.

But the benchmark Shanghai Composite Index was marginally lower, edging down 0.52 points to 3,095.43, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, was slightly up, ticking 0.51 points higher to 2,050.59.

Singapore shares open 0.82% lower on Friday


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SINGAPORE stocks opened 0.82 per cent lower on Friday, with the Straits Times Index losing 23.78 points to 2,870.7 as at 9.05am.

About 105.1 million shares worth S$74.8 million in total changed hands. Losers outnumbered gainers 88 to 63.

Some of the top traded stocks were Singapore Exchange, CapitaLand and Singtel.