Asian shares weaker on China property companies, ahead of Fed decision

Asian shares traded  mildly weaker on Wednesday morning with Chinese property developers facing headwinds and other markets soft ahead of the conclusion of Federal Reserve's policy meeting.

The U.S. central bank is to announce its decision on interest rates and monetary policy followed by a press conference with Janet Yellen, her first as head of the monetary authority.

The Shanghai Composite lost 0.94% and Hong Kong's Hang Seng Index fell 0.16%. Local sentiment continued to be weighed by concerns over the property sector--a key driver of the Chinese economy that accounts for 16% of gross domestic product. 

China Merchants Property fell 2.2% to CNY16.32 and Poly Real Estate slid 2.8% to CNY6.69. 

So far this week, data showed that growth continued to moderate in property developers, while a real-estate firm in eastern China was unable to pay almost $600 million in debt.

Shares in developers fell for a second day, with China Vanke Co. down 3.8% in Shenzhen and China Resources Land 2.3% lower in Hong Kong.

More broadly, the region was cautious ahead of the conclusion of the Federal Reserve's policy meeting later Wednesday. The central bank is expected to reduce its bond-buying program by another $10 billion and change its 6.5% unemployment threshold to keep its fund rate near zero into 2015.

Japan's Nikkei fell 0.3%, giving up its earlier gains as the yen strengthened against the dollar. Japan Display Inc. slumped 15% on debut trading in Tokyo. The world's largest manufacturer of screen for smartphones and tablets raised as much as $3.2 billion earlier this month in a deal that was priced at the bottom of the proposed range.

Australia's S&P/ASX 200 was flat and South Korea's Kospi was up less than 0.1%.

The region failed to take a positive lead from the U.S., where the S&P 500 ended the day close to a record as fears of escalating tensions over Crimea abated. At the close of U.S. trading Tuesday the Dow Jones Industrial Average rose 0.55%, the S&P 500 index rose 0.72%, while the Nasdaq Composite index rose 1.25%.

Relief buying sent stocks rising as did data suggesting the U.S. economy continues to recover despite lingering headwinds.

The Labor Department on Tuesday reported that the U.S. consumer price index slowed to 1.1% in February from 1.6% in January. Analysts had expected the annual inflation rate to decline to 1.2%.

Month-on-month, U.S. consumer prices rose 0.1% in February, in line with forecasts.

Core inflation rates, which are stripped of volatile food and energy prices, rose 1.6% on year and 0.1% month-on-month, both figures in line with market forecasts.

The Federal Reserve plays close attention to core inflation rates when deciding on monetary policy.

Separately, the Commerce Department reported that the number of building permits issued in the U.S. rose to a four-month high in February, rebounding after a sharp drop in January.

The number of building permits issued last month jumped 7.7% to 1.018 million units, beating market calls for a 1.6% increase..

U.S. housing starts, however, fell 0.2% last month to hit a seasonally adjusted 907,000 units, disappointing expectations for an increase of 3.4% to 910,000 units, though investors viewed the day's data as bullish from an overall take.

European indices, meanwhile, finished higher.

After the close of European trade, the EURO STOXX 50 rose 0.78%, France's CAC 40 rose 0.97%, while Germany's DAX 30 rose 0.67%. Meanwhile, in the U.K. the FTSE 100 rose 0.56%.

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Forex Trading Signal for 19th March 2014

                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)

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EUR/USD

 Up Trend : 

 (1) BUY

Entry Point: 1.39180  

Take Profit: 1.39500

Stop Loss:   1.38700

 

GBP/USD

Down Trend:

(1) SELL

Entry Point: 1.65950   

Take Profit: 1.65550

Stop Loss:   1.66200

NOTE: The above posted Signals are delayed 2 - 4 hours after it has been  generated.
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Forex Trading Signal for 18th March 2014

                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)

For more easy access,,,,,,Download our mobile application on your mobile :   Click Fxsignals 

EUR/USD

 Up Trend : 

 (1) BUY

Entry Point: 1.39150  

Take Profit: 1.39500

Stop Loss:   1.38700

 

GBP/USD

Down Trend:

(1) SELL

Entry Point: 1.66340   

Take Profit: 1.66000

Stop Loss:   1.66600

NOTE: The above posted Signals are delayed 2 - 4 hours after it has been  generated.
Daily forex signals are sent ontime to only our subcribers.

To subcribe: click here

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European stocks turn higher despite weak ZEW data; Dax up 0.62%

European stocks turned higher on Tuesday, despite the release of weak of German economic sentiment data and as investors eyed a highly anticipated speech by Russian President Vladimir Putin.

European stocks erase earlier losses

During European afternoon trade, the EURO STOXX 50 climbed 0.84%, France’s CAC 40 jumped 0.90%, while Germany’s DAX 30 gained 0.62%.

The ZEW Centre for Economic Research reported that its index of German economic sentiment fell to 46.6 this month from February’s reading of 55.7. Analysts had expected the index to decline to 53.0.

The report indicated that the economic upswing in Germany is not at risk. The assessment of current economic conditions improved to 51.3 this month from 50.0 in February.

Economic expectations for the euro area also deteriorated this month, the ZEW Centre said, dropping to 61.5 from 68.5 in February, compared to expectations for a decline to 67.3.

Meanwhile, Vladimir Putin was set to address Russia's parliament later on Tuesday on making Crimea part of the Russian Federation, one day after signing a decree recognizing the region as a sovereign state.

Financial stocks turned mixed, as BNP Paribas gained 0.58% and Societe Generale eased 0.09% in France, while Germany's Deutsche Bank slid 0.32%.

Among peripheral lenders, Unicredit dropped 0.50% and Intesa Sanpaolo rallied 1.52% in Italy, while Spanish banks Banco Santander and BBVA lost 0.15% and 0.40% respectively.

Elswehere, Bloomberg reported that European car sales rose 7.6% in February, posting the sixth consecutive monthly gain. French carmaker Renault SA saw shares surge 2.16% following the news, while German rival Volkswagen AG were down 0.01%.

In London, FTSE 100 rose 0.31%.

Resolution led losses on the index, down 6.04%, even as the life insurer reported a 59% jump in pretax operating profit last year, heralded the completion of its restructuring and signed a fund management deal with Schroders.

Adding to losses, Vodafone declined 0.69%, one day after the wireless carrier agreed to buy Spanish cable operator Grupo Corporativo Ono SA for €7.2 billion, including debt, to boost TV and broadband offerings.

Meanwhile, mining stocks remained mostly lower. BHP Billiton fell 0.25% and Rio Tinto slipped 0.19%, while Fresnillo plunged 4.46%. Glencore Xstrata overperformed however, up 0.63%.

In the financial sector, stocks were also broadly lower as Lloyds Banking edged down 0.18% and HSBC Holdings fell 0.14%, while the Royal Bank of Scotland tumbled 0.98%. Barclays was trading higher on the other hand, with shares jumping 1.30%.

Sainsbury erased earlier losses, climbing 0.83%, after the U.K. grocer reported the first drop in same-store sales in more than nine years.

In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.42% climb, S&P 500 futures signaled a 0.40% increase, while the Nasdaq 100 futures indicated a 0.36% gain.

Later in the day, the U.S. was to produce data on consumer inflation, in addition to reports on building permits and housing starts.

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U.S. futures rise ahead of data, Putin speech; Dow Jones up 0.31%

U.S. stock futures pointed to a higher open on Tuesday, ahead of U.S. data and as market sentiment weakened ahead of a highly anticipated speech by Russian President Vladimir Putin on the integration of Crimea.

U.S. stocks point to higher open with data in focus

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.31% rise, S&P 500 futures signaled a 0.26% gain, while the Nasdaq 100 futures indicated a 0.27% increase.

Vladimir Putin was set to address Russia's parliament later on Tuesday on making Crimea part of the Russian Federation, one day after signing a decree recognizing the region as a sovereign state.

Worries over the Ukraine crisis seemed to subside however, as sanctions imposed on Russia by the U.S. and the European Union were seen as mild.

The tech sector was likely to be in focus, amid reports Microsoft Chief Executive Officer Satya Nadella will begin unveiling his vision for the company when he debuts a version of Office for Apple's iPad and offer some features of the application for free at an event next week.

Separately, Sony Corp. tumbled 1.28% in early trading as it began a new round of job cuts at its entertainment division, in part of Chief Executive Officer Kazuo Hirai’s effort to improve profitability at the unit.

Amazon was also lower in pre-market trade, slipping 0.18%, after a company survey measuring brand engagement and customer loyalty showed that the online retailer's rating fell from 93% to 83% following a price hike announced last week.

Last Thursday, Amazon announced that it would raise the price of its Prime membership from $79 to $99.

Elsewhere, Wal-Mart was slated to move after saying on Tuesday that it would allow consumers to come into its stores, at 3,100 locations, and trade-in used video games for an eGift card for use on any item sold in Wal-Mart and Sam's Club stores and online.

Other stocks likely to be in focus included FactSet, DSW and Yingli Green Energy, scheduled to report quarterly earnings later in the day.

Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slipped 0.28%, France’s CAC 40 dipped 0.02%, Germany's DAX declined 0.51%, while Britain's FTSE 100 edged down 0.13%.

During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.51%, while Japan’s Nikkei 225 Index jumped 0.94%.

Later in the day, the U.S. was to produce data on consumer inflation, in addition to reports on building permits and housing starts.

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