STOCK EXCHANGES AROUND THE WORLD
Pakistan stocks post limited gains
The stock market experienced a relatively dull session on Friday as the benchmark index posted limited gains on the last trading day of the week. The KSE-100 index opened upwards but continued to fluctuate sharply. Trading activity was seen in cement, power and exploration and production stocks. Late session recovery was led by selected oil, banking and fertiliser stocks on attractive valuations.
The end of trading, the benchmark KSE 100-share Index recorded an increase of 129.34 points, or 0.37percent, to settle at 35,125.25. Overall, trading volumes decreased to 129.3 million shares compared with Thursday’s tally of 163 million. The value of shares traded during the day was Rs4.2 billion. Shares of 313 companies were traded. At the end of the day, 122 stocks closed higher, 170 declined and 21 remained unchanged. Summit Bank was the volume leader with 19.2 million shares, gaining Rs0.01 to close at Rs0.66. It was followed by WorldCall Telecom with 15.9 million shares, with no change in value at Rs0.79 and K-Electric Limited with 12.2 million shares, gaining Rs0.11 to close at Rs4.25.
US S&P 500 index hits all-time high
The S&P 500 touched a record high for the second straight session on Friday as hopes of trade talks between Washington and Beijing were lifted by US Vice President Mike Pence’s decision to defer a planned speech on China policy.
The decision was taken amid “positive signs” that trade talks with China could be back on track, the Wall Street Journal reported, citing a senior administration official.
The benchmark S&P 500 index hit an intraday high of 2,964.15 on Friday, but retreated into a tight range as rising tensions between the United States and Iran kept investors on edge.
The United States and China have said they would restart their trade talks after a lull at the Group of 20 summit in Japan next week.
The Dow Jones Industrial Average was up 45.72 points, or 0.17%, at 26,798.89 and the S&P 500 was down 0.53 points, or 0.02%, at 2,953.65. The Nasdaq Composite was down 7.13 points, or 0.09%, at 8,044.21.
The tech-heavy index was weighed down by a 2.02% fall in PayPal Holdings Inc after the digital payments company said its chief operating officer Bill Ready would step down.
Declining issues outnumbered advancers for a 1.47-to-1 ratio on the NYSE and for a 1.71-to-1 ratio on the Nasdaq. The S&P index recorded 33 new 52-week highs and two new lows, while the Nasdaq recorded 42 new highs and 49 new lows.
India Nifty ends below 11,750, Sensex falls 407 points
The Indian indices wiped out most of its previous session gains and ended on weak note with Nifty finished below 11,750 level. At close, the Sensex was down 407.14 points at 39,194.49, while Nifty was down 107.70 points at 11,724.10. About 1157 shares have advanced, 1292 shares declined, and 167 shares are unchanged.
Yes Bank, Maruti Suzuki, HDFC, Coal India and hero Motocorp were among major losers on the Nifty, while gainers were Tech Mahindra, UPL, Indiabulls Housing, Hindalco Industries and SBI.
Japan stocks end week lower
Japan stocks were lower after the close on Friday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 1.02 percent. Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2318 to 1173 and 211 ended unchanged.
The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00 percent to 15.25 a new 1-month low. Crude oil for August delivery was up 0.12 percent or 0.07 to $57.14 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 0.16percent or 0.10 to hit $64.55 a barrel, while the August Gold Futures contract fell 0.32percent or 4.45 to trade at $1392.45 a troy ounce.
France stocks dip by end of week
France stocks were lower after the close on Friday, as losses in the Foods & Drugs, Gas & Water and General Financial sectors led shares lower.
At the close in Paris, the CAC 40 fell 0.13percent, while the SBF 120 index declined 0.26 percent. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 349 to 220 and 90 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 3.26percent to 13.24 a new 1-month low.
Germany stocks decline
Germany stocks were lower after the close on Friday, as losses in the Pharmaceuticals & Healthcare, Construction and Technology sectors led shares lower.
At the close in Frankfurt, the DAX lost 0.13 percent, while the MDAX index declined 0.43percent, and the TecDAX index lost 0.51 percent. Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 419 to 272 and 82 ended unchanged. Shares in Muench. Rueckvers. VNA O.N. rose to all time highs; rising 0.81percent or 1.80 to 225.40. The DAX volatility index, which measures the implied volatility of DAX options, was up 2.85percent to 14.42.
Taiwan shares move higher
Shares in Taiwan closed slightly higher Friday as the gains posted by semiconductor stocks offset the losses suffered by other tech stocks and non-tech stocks during the session, dealers said.
The main board extended its gains from the previous few sessions to end above the 10,800 point mark on the back of hopes that the US Federal Reserve will cut its key interest rates in the second half of the year, which is expected to boost liquidity levels in the global market, they said.
The weighted index on the Taiwan Stock Exchange (TWSE) or the Taiex closed up 18.76 points, or 0.17 percent, at 10,803.77, after moving between 10,773.47 and 10,840.29, on turnover of NT$148.45 billion (US$4.78 billion). The market opened up 0.30 percent and rose to the day’s high in the mid-morning session, as investors took their cue from gains posted on the U.S. market, where the Dow Jones Industrial Average continued its momentum, up 0.15 percent, and the tech heavy Nasdaq index ended up 0.42 percent, dealers said.