Stock Markets Report 28th November

Asia Stocks

Stocks in Asia were seen trading mixed on the last day of the trading week as the Japanese yen boosted the nation’s equities higher.

Tokyo’s Topix index added 0.87% to 1,404.04 points, while the Japanese Nikkei 225 index rallied 0.94% to 17,403.22 points during the early trading hours.

The Japanese yen weakened to the lowest in three days against the US dollar, trading around 118.24 yen on Friday versus 117.60 yen on Thursday. 

A report released showed that Japan’s core Consumer Price Index (CPI), excluding food, grew 1.9% year-on-year in October from a 3% gain recorded in the previous month. Retail sales rose 1.4% year-on-year, while Tokyo’s CPI grew 2.4% from a year earlier in November, compared to the 2.5% rise seen in the previous month.

A separate report released showed that the household spending declined 4.0% year-on-year in October, marking a fall for the seventh consecutive month.

Meanwhile, the weaker yen boosted gains for some of the country’s stocks on Friday, with Casio computer up 2%, Japan Airlines added 5.3%, Kawasaki Kisen Kaisha surged 6.95% and Toshiba shares rose 1.3%.

Japan’s industrial production climbed 0.2% month-on-month in October, compared to the 2.9% rise seen in the previous month, a preliminary report from the Ministry of Economy, Trade and Industry (METI) showed. The report also reveled that the annual basis production dropped 1.0% in October.

Hong Kong’s Hang Seng index declined 0.31% to 23,930.80 points, while the Chinese mainland Shanghai index slipped 0.24% to 2,624.26 points.

The South Korean Kospi index edged 0.28% lower to 1,976.47 points, while in Sydney, the benchmark S&P/ASX 200 index fell 1.35% to 5,326.80 points.

Oil and gas companies in Australia saw major losses as oil prices fell to a fresh record-low after OPEC said it would maintain its production target.

On Friday, AWE slumped 11%, while Senex Energy fell 15% and Sundance Energy Australia declined by more than 10%.

Europe Stocks

Europe’s stock market was trading lower on Friday as the market focus on the eurozone’s inflation and GDP reports due later in the day.

Germany’s benchmark DAX 30 index slid 0.07% lower to 9,968.68, while the French CAC 40 index declined 0.23% to 4,372.23 and Britain’s FTSE 100 index fell 0.30% to 6,703.71.

Europe’s Euro Stoxx 50 edged 0.13% to 3,240.09 at the time of writing, while the spotlight is on the eurozone’s inflation data which is expected to show a fall down to 0.3% on an annual basis in November.

 

 

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