Monday, January 20, 2014

China in Focus, Slower Growth on Cards for 4Q-13

China equities fell 0.9% on profit-taking ahead of a data heavy week. Focus for today will be on the country’s GDP, which may grow 7.6% on-year in 4Q-13.  Home sales numbers will also be released

Hong Kong’s Hang Seng rose 0.6%,
pushed up by a rally in casino stocks on reports of higher gaming revenues in Macau. Still in North Asia, Taiwan’s TWSE ticked down 0.2%. Heavyweight TSMC bucked the trend after delivering a rosy outlook for 2014.

In Southeast Asia, Singapore’s STI rose 0.2%, while Indonesia’s JCI ended flat. Astra International, the country’s largest automotive distributor, tumbled on news of falling market share in vehicle sales. Markets in Malaysia were closed last Friday as the country observed a religious holiday.

India’s Sensex dipped 1.0%, pressured by losses in software names after industry leader Tata Consultancy released weaker-than-expected earnings results for the October – December quarter.