PAKISTAN STOCKS ALMOST FLAT
Political uncertainty continued to influence investor sentiment, as the stock market ended marginally in the red with the index hovering in a narrow range on Friday. The KSE-100 Index fell over 200 points in the early hours, but reversed the fall and climbed to hit a high of 42,900 points before retreating after the break to end almost flat.
At close, the benchmark KSE 100-share Index recorded a fall of 24.85 points or 0.06 percent to stand at 42,750.19. Overall, trading volumes fell to 132 million shares compared with Thursday’s tally of 165 million. Shares of 388 companies were traded. At the end of the day, 178 stocks closed higher, 184 declined while 26 remained unchanged. The value of shares traded during the day was Rs5.4 billion. WorldCall Telecom was the volume leader with 17.5 million shares, gaining Rs0.09 to close at Rs3.52.
US STOCKS LITTLE CHANGED AS DONALD, KIM EXCHANGE THREATS
Wall Street stocks finished a choppy day little changed as investors weighed how seriously to take increasingly heated rhetoric between US President Donald Trump and North Korea’s Kim Jong-Un.
The Dow Jones Industrial Average slipped 0.1 percent to end the week at 22,349.59. The broad-based S&P 500 added 0.1 percent to 2,502.22, as did the tech-rich Nasdaq Composite Index which closed at 6,426.92. Apple fell 1.0 percent as its latest smartphone, the iPhone 8, arrived in stores. Others to fall included Tesla Motors, which shed 4.2 percent, and Kraft Heinz, which lost 1.9 percent.
SRI LANKAN STOCKS END LOWER
Sri Lankan shares fell for a second straight session on Friday, as investors sold diversified and banking shares in thin trade that saw turnover slumping to a near four-week low. The Colombo stock index ended 0.38 percent weaker at 6,427.26, off its highest close since Aug. 14 hit on Wednesday. It however gained 0.4 percent on week, a second straight weekly gain. Shares of conglomerate John Keells Holdings Plc fell 1.5 percent, while biggest listed lender Commercial Bank of Ceylon Plc ended 1.4 percent weaker. Turnover stood at 217.9 million rupees ($1.43 million), compared with this year’s daily average of around 920 million rupees. Foreign investors bought a net 31.1 million rupees (about $203,667) worth of shares, extending the year-to-date net foreign inflow to 17.7 billion rupees.
HONG KONG SHARES CLOSE WEEK WITH LOSSES
Hong Kong stocks ended down on Friday following a broadly upbeat week, with traders spooked by fresh North Korea fears after its foreign minister suggested the country could test a hydrogen bomb in the Pacific.
The Hang Seng Index slipped 0.82 percent, or 229.80 points, to finish at 27,880.53. The benchmark Shanghai Composite Index eased 0.16 percent, or 5.28 points, to 3,352.53 and the Shenzhen Composite Index, which tracks stocks on China’s second exchange, slipped 0.34 percent, or 6.83 points, to 1,988.59.
TOKYO SHARES SNAP 4-DAY WINNING STREAK
Tokyo stocks snapped a four-day winning streak Friday as investors cashed in on recent gains with worries over North Korea returning to the trading floor.
The market turned increasingly cautious as US President Donald Trump and North Korean leader Kim Jong-Un traded blistering barbs, with Pyongyang’s foreign minister hinting at the possibility of a hydrogen bomb test over the Pacific Ocean.
The Nikkei 225 index lost 0.25 percent, or 51.03 points, to close at 20,296.45, but marked a weekly gain of 1.94 percent. The broader Topix index also ended down 0.25 percent, or 4.13 points, at 1,664.61, but added 1.57 percent over the past week.
TSX FLAT ON DAY, HEADING FOR 1.9PC GAIN ON WEEK
Canada’s main stock index barely slipped in early trade on Friday but was heading towards a 1.9 percent gain on the week, with banks and gold miners pushing higher as geopolitical tensions boosted demand for bullion.
The Toronto Stock Exchange’s S&P/TSX composite index was last down 3.65 points, or 0.02 percent, at 15,451.27. It closed at its highest level since early June on Thursday.
INDIA’S SENSEX SLIPS ON FISCAL RISK, N-FEARS
A combination of negative factors — a deteriorating domestic fiscal situation, fresh tension in the Korean peninsula and fears about global investors turning bearish on emerging markets after S&P’s downgrading of China’s ratings—led to a 1.4 percent (or 448 points) slide in the India’s Sensex to 31,922 points, it’s biggest single-session points slide in 10 months.
The US Federal Reserve’s plans to cut its over $4-trillion books also left investors jittery, especially about emerging markets that affected sentiment on Dalal Street. As a result of the sharp fall, investors were left poorer by Rs2.71 million with BSE’s market capitalization now at Rs 139.2 lakh crore.
On Thursday the government said it was working on an economic stimulus package estimated at up to Rs 50,000-crore. Market players, however, questioned how the money required for the stimulus will be mobilized and if it could force the government to overshoot its fiscal deficit targets. In addition to the domestic and global economic reasons and geo-political factors, brokers also said that usually the Indian market shows heightened volatility as it nears the expiry of derivatives contracts, which usually is scheduled for the last Thursday of the month.