China: Stocks decline as hopes for policy easing fade

China stocks slipped on Wednesday, pulled down by financial shares amid receding expectations of aggressive monetary easing, while property shares also declined.

The CSI300 index, which tracks the largest listed companies trading in Shanghai and Shenzhen, fell 0.4 per cent, to 3,329.86 points. The Shanghai Composite Index lost 0.1 per cent, to 3,085.88 points.

China's central bank on Wednesday injected cash into money markets through 14-day reverse repurchase agreements for the first time since February, and traders said the prospect of more liquidity injections trimmed expectations of further aggressive monetary easing.

The property shares finished lower with subindex losing 1.55 per cent. China Vanke Co was among the top losers, which dropped 2.87 per cent.

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SINGAPORE IFOREX UPDATE BY EPIC RESEARCH

EUR/USD is currently trading with a bearish bias. Yesterday, instead of going long as previously

forecasted, the pair rallied to the lower side and ended up closing below a key support

level 1.1159. Although we expect further movements to the lower side, we are waiting

for minor retracements to the upper side to give us low risk sell opportunities. This

view remains valid as long as the pair trades below 1.1159, a clear breakout above this

level may invalidated the anticipated upward rally. Trade Euro alongside EUR/HKD, GBP/

USD and AUD/USD. These pairs have a strong positive correlation of up to +0.96 and will

The pound slipped lower against the U.S. dollar on Thursday, as investors remained cautious
ahead of the Bank of England’s policy decision, due later in the day, amid mounting
expectations for a rate cut.GBP/USD hit 1.3279 during European morning trade, the session
low; the pair subsequently consolidated at 1.3301, shedding 0.18%.Cable was likely
to find support at 1.3169, the low of August 2 and resistance at 1.3480, the high of July
15.The BoE was expected to lower interest rates by 25 basis points later Thursday, as a
string of downbeat economic reports from the U.K. recently sparked concerns over the
outlook for growth.Meanwhile, the dollar remained mildly supported after payroll processor
ADP said on Wednesday that the U.S. private sector added 179,000 jobs last month,
surpassing expectations for an increase of 170,000.

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U.S Market Update : Epic Research Singapore

U.S. stocks whipsawed throughout the day but closed lower on Thursday after the Federal Reserve left interest rates unchanged, and left investors uncertain about the timing of what would be the first rate hike in nearly a decade.

The S&P 500 SPX, -0.26%  rallied to 2,020 during Yellen’s news conference, but erased gains to close 5.11 points, or 0.3%, lower at 1,990.20. Six of the index’s 10 main sectors finished lower. Telecoms got hit, while utilities and health-care stocks led gains.

The regional bank sector didn’t take the news of no interest rate increase well. The SPDR S&P Regional Bank ETF KRE, -2.35%  flipped from a gain of about 0.5% to a loss of 2.4% after Federal Reserve said it was standing pat. Banks benefit from higher rates.

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U.S Market Update : Epic Research Singapore

Black Friday, the biggest US shopping "holiday", kicked off with expectations that lower gasoline prices and higher consumer confidence could mean better year-end retail sales than last year.

The buying frenzy started early, turning Thursday's Thanksgiving Day holiday into what the industry has begun calling "Gray Thursday".

Big retail chains like Walmart, Target and Macy's opened their doors at 6.00 pm (0100 GMT Friday) in hopes of boosting their weekend sales, even before many Americans had finished the traditional turkey holiday feast.

Walmart and Target boasted that the strategy was a success, saying they were swamped with customers - without saying how many.

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Asian Market Update : Epic Research Singapore

Asian markets were mostly higher Wednesday following better-than-expected US economic growth data and news that Germany had narrowly averted recession.

The dollar struggled to resume its uptrend against the yen, with analysts forecasting the pairing were close to finding their plateau.

Tokyo fell 0.27 per cent owing to the stronger yen, but Hong Kong added 0.13 per cent, Sydney rose 0.87 per cent and Shanghai gained 0.46 per cent. Seoul was flat.

The gains came despite a weak lead from Wall Street, where the Dow and S&P 500 retreated slightly from record highs.

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U.S Market Update : Epic Research Singapore

U.S. stock-index futures were quoted higher a little over eight hours ahead of the Monday market open. Futures for the Dow Jones Industrial Average DJIA +1.13% and those for the S&P 500 SPX +1.15% were each 0.2% higher, according to FactSet, while Nasdaq 100 futures were up 0.3%. The advance came as most Asian markets rallied, with Japan's Nikkei Stock Average JP:NIK +2.38% up 2.4% in the final hour of Tokyo trade. On Friday, the S&P 500 rose 1.2%, while the Dow industrials gained 1.1% and the Nasdaq Composite closed with a 0.8% gain.

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U.S Market Update : Epic Research Singapore

The U.S. stock market finished the week with the worst losses in two months. On Friday, the main benchmarks rose modestly but trading was choppy with news out of Iraq resulting in price swings in late trade. The S&P 500 SPX +0.31% closed 6.04 points, or 0.3%, higher at 1,936.15, but recorded a 0.7% loss over the week. The Dow Jones Industrial Average DJIA +0.25% added 41.49 points, or 0.3%, to 16,775.58. The blue-chip index lost 0.9% over the past five days. The Nasdaq Composite COMP +0.30% ended the day up 13.02 points, or 0.3% at 4,310.65 and declined 0.3% over the week. 

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U.S Market Update : Epic Research Singapore

The federal government ran a budget deficit of $131 billion in May, the Congressional Budget Office estimated on Friday. That is $8 billion lower than the deficit in May 2013. For the fiscal year to date, CBO estimates a deficit of $439 billion, $188 billion less than in the same period a year ago. CBO said receipts in May totaled $200 billion, or $3 billion more than the same month last year. Spending was $331 billion, down $5 billion from May 2013.

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U.S Market Update : Epic Research Singapore

U.S. stocks in May posted the biggest monthly gains since February, with the S&P 500 and Dow Jones Industrial Average finishing the month at records.

The Dow DJIA +0.11%  rose 18.4 points, or 0.1%, to 16,717.17.
The Nasdaq COMP -0.13%   fell 5.3 points, or 0.1%, to 4,242.62.

Big Lots Inc. BIG -0.01%   surged 13% after the retailer raised its outlook for the current fiscal year, while first-quarter revenue beat expectations.

Ann Inc. ANN +0.03%   rose 4% after the apparel retailer reported first-quarter adjusted profit that slightly beat Wall Street forecasts.

Express Inc. EXPR -0.08%   shares tumbled 7.5% after the retailer posted a fall in first-quarter profit.

Apple Inc. AAPL +0.04%   shares were down 0.4%. Goldman Sachs raised its price target on the stock to $720 from $635. 

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Epic Research Singapore : U.S Market Update

President Barack Obama made a surprise visit Sunday to troops in Afghanistan as the U.S. gets ready to withdraw its forces from the nation after more than a dozen years of war.

Obama landed a Bagram Airfield outside Kabul after slipping out of Washington secretly Saturday night. The president plans to hold a Memorial Day rally with more than 30,000 troops there. He was accompanied by country singer Brad Paisley, who was expected to perform at the gathering.He was not expected to meet with Afghan President Hamid Karzai, with whom he's had a tense relationship of late.

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Epic Research Singapore : U.S Market Update

U.S. stocks rise; S&P 500 hits 1,900

After three straight days of advances, the U.S. stock market finished the week with solid gains, sending the S&P 500 above the 1,900 level, a first on a closing basis.  

The benchmark SPX +0.42% closed 8.04 points, or 0.4%, higher at 1,900.53, a record level, and gained 1.2% over the week. 

The Dow Jones Industrial Average DJIA +0.38% gained 63.19 points, or 0.4%, to 16,606.27 and finished the week 0.7% higher. The blue-chip index turned positive for the year. 

The Nasdaq Composite COMP +0.76% ended the day up 31.47 points, or 0.8%, at 4,185.81, clocking in a 2.3% gain over the past five days.

Gold futures for June delivery GCM4 -0.15%  slipped, while crude oil for July delivery CLN4 +0.63%  inched higher. The dollar moved higher against the euro EURUSD -0.1913%  after the German Ifo business-confidence report missed expectations. 

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Epic Research Singapore : U.S Market Update

U.S. stock index futures Wednesday night pointed to a stronger Wall Street open on Thursday, as Asian markets rallied in the wake of better-than-expected Chinese manufacturing data. Roughly 12 hours ahead of the New York open, futures for the Dow Jones Industrial Average DJIA +0.97% were up 0.3%, while those for the Nasdaq 100 and S&P 500 SPX +0.81% were each quoted 0.2% higher. The gains followed the release of the preliminary HSBC China manufacturing Purchasing Managers' Index, which showed factory activity contracting slightly so far this month but at a much slower pace than economists had forecast. 
 

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Epic Research Singapore : U.S Market Update

U.S. stocks closed slightly lower on Friday, capping weekly gains, as concerns over conflict in Ukraine outweighed an upbeat jobs report.

The S&P 500 SPX -0.13% ended the day 2.54 points, or 0.1%, lower at 1,881.14 and gained 1% over the week.

The Dow Jones Industrial Average DJIA -0.28% lost 45.98 points, or 0.3% to 16,512.89, but still recorded a gain of 0.9% over the past week.

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Epic Research Singapore : U.S Market Update

U.S. stocks closed slightly lower on Friday, capping weekly gains, as concerns over conflict in Ukraine outweighed an upbeat jobs report.

The S&P 500 SPX -0.14%  ended the day 2.54 points, or 0.1%, lower at 1,881.14 and gained 1% over the week. 

The Dow Jones Industrial Average DJIA -0.28%  lost 45.98 points, or 0.3% to 16,512.89, but still recorded a gain of 0.9% over the past week.

The Nasdaq Composite COMP -0.09%  finished the day 3.55 points, or 0.1%, lower at 4,123.90 and gained 1.2% over the week.

  
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Epic Research Singapore : U.S Market Update

US stocks Thursday finished mixed after a busy day of economic data releases ahead of Friday's closely-watched monthly jobs report.

The Dow Jones Industrial Average fell 21.97 (0.13 per cent) to 16,558.87, while the broad-based S&P 500 slipped a scant 0.27 of a point (0.01 per cent) to 1,883.68.
 
But the tech-rich Nasdaq Composite Index, by far the weakest of the three indices over the last six weeks, rose 12.90 (0.31 percent) to 4,127.45.

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Epic Research Singapore : U.S Market Update

U.S. stocks ended a volatile session higher on Tuesday, lifted by gains in such blue-chip names as Coca-Cola and Johnson & Johnson, though persistent weakness in momentum names limited the Nasdaq's advance.

Coke and J&J, both Dow components, climbed after their results while recent outperformers fell, a sign that investors were rotating from growth stocks into value ones. In recent weeks, high-growth stocks have been under pressure after a meteoric rise in their prices took valuations to levels that appeared unsustainable.

The three major U.S. stock indexes fell for much of the session before rebounding in afternoon trading. The Nasdaq moved in a 108.77-point range, and at its lows of the day, it was within 0.3 per cent of 3,934.53, the level that represents a 10 per cent drop from its recent intraday peak, hit on March 6.

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Epic Research Singapore : U.S Market Update

The tech-rich Nasdaq Composite Index led Wall Street sharply lower again Friday, closing out a dreary week at its lowest level in more than two months.
 
The Nasdaq sank 54.37 points (1.34 per cent) to 3,999.73, its lowest close since February 3, when the index settled for one session below the psychologically important 4,000 level.

The Dow Jones Industrial Average tumbled 143.47 (0.89 per cent) to 16,026.75, while the broad-based S&P 500 shed 17.39 (0.95 per cent) to 1,815.69.

US equities were in the red most of the day, but losses deepened in the last 90 minutes of trade.

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Epic Research Singapore : U.S Market Update

The Nasdaq Composite suffered its worst day since late 2011 on Thursday as investors fled biotech, Internet and other high-growth stocks, the sectors that had led the last leg up of the maturing bull market.

The Nasdaq Composite COMP -3.10%  dropped 129.79 points, or 3.1%, its worst one-day percentage decline since November 2011. The Nasdaq Biotech index NBI -5.64%   as well as iShares Nasdaq Biotechnology ETF IBB -0.54%   dropped 5.6%. 

The Dow Jones Industrial Average DJIA -1.62%  fell 266.96 points, or 1.6%, to 16,170.22, its worst one-day percentage drop in more than two months.

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Epic Research Singapore : U.S Market Update

U.S. stocks fell sharply, after heavy selling in momentum stocks such as biotechs and Internet companies on Friday reversed an early rally, sending the Nasdaq Composite to its worst day in two months.

The markets opened higher following a government report showing a steady pace of jobs growth, lifting both the S&P 500 and the Dow Jones Industrial Average to intraday highs. But early gains soon dissipated. 

The S&P 500 SPX -1.25%  ended the day 23.68 points, or 1.3%, lower at 1,865.09. The benchmark index eked out a 0.4% gain over the week. Technology and consumer discretionary sector stocks led the losses.

The Dow Jones Industrial Average DJIA -0.96%  dropped 159.84 points, or 1%, to 16,412.71 but managed to stay 0.5% higher on the week. Microsoft Corp MSFT -2.78% and Visa Inc V -3.40% , down 2.8% and 3.4% respectively, were leading the losses among the blue chips.

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Epic Research Singapore : U.K Market Update

Growth in British house prices cooled for the third straight month in March, despite recording their biggest annual rise in almost four years, data from mortgage lender Nationwide showed on Wednesday.
 
House prices rose 0.4 per cent last month, the slowest pace of monthly growth since June last year, slowing from an upwardly revised 0.7 per cent increase in February, Nationwide said.

But in year-on-year terms, house prices in March were 9.5 per cent higher, stronger than a rise of 9.4 per cent in the 12 months to February and the biggest annual jump since May 2010.

The average price of a house in Britain now stands at 180,264 pounds (US$300,000), about 3 per cent below the 2007 peak unadjusted for inflation, Nationwide said. "There is little doubt that the recovery in the housing market is now firmly established, with activity levels picking up and house prices recording their 15th successive monthly increase in March.
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