- Seoul: Stocks edge up, won down on foreign selling and upbeat Fed
[SEOUL] South Korea's Kospi stock index ticked up on Thursday, while the won slumped on the local platform and bond yields fell. The won was quoted at 1,071.9 per US dollar on the onshore settlement platform, 0.37 per cent weaker than its previous close at 1,067.9. The currency was pressured by foreign selling of stocks and on a sturdier US dollar thanks to an upbeat Federal Reserve. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.11 per cent, after US stocks ended the previous session with gains. The trading volume during the session on the Kospi index was 588,190,000 shares, and of the total traded issues of 885, the number of advancing shares was 508.
- Oil extends gains on robust OPEC compliance
US oil prices extended modest gains on Thursday as OPEC's strong compliance with a supply reduction pact offset news that US production topped 10 million barrels per day for the first time in nearly half a century. “As oil prices rise, higher shale output is definitely on the market's mind,” said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting in Tokyo. “OPEC nations realise that lower production would buoy oil prices and that it's better for them,” Akuta added. Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 1.5 million-barrel drop, the EIA data also showed. Kuwait Petroleum Corp expects to spend over $500 billion as it boosts its crude oil production capacity to 4.75 million barrels per day in 2040, the national oil firm said on Wednesday.
- Statistics Canada says manufacturing helps boost economic growth in November
OTTAWA — Statistics Canada says the economy grew 0.4 per cent in November, helped by strength in the manufacturing sector. Statistics Canada says the increase in real gross domestic product came as goods-producing industries rose 0.8 per cent boosted by the manufacturing sector and mining, quarrying and oil and gas extraction. The manufacturing sector gained 1.8 per cent in November, the largest monthly increase since February 2014. Mining, quarrying, and oil and gas extraction increased 0.5 per cent. Meanwhile, services-producing industries climbed 0.3 per cent, led by the real estate and rental and leasing, wholesale, and retail trade sectors.
- Canadian economy grew by 0.4% in November: Statistics Canada
The Canadian economy grew by 0.4 per cent in November, Statistics Canada reported Wednesday, in a report that matched the expectations of most economists. Statistics Canada said goods-producing industries rose 0.8 per cent after declining 0.5 per cent in October. After four consecutive monthly declines, which saw motor vehicle manufacturing drop by 21.5 per cent, the industry rose 14.3 per cent in November. Meanwhile, services-producing industries rose 0.3 per cent, led by the real estate and rental and leasing, wholesale, and retail trade sectors. In the immediate wake of Wednesday's GDP release, the Canadian dollar was trading higher.
- Seoul: Stocks end flat as Samsung Elec rally fizzles; won firms
The Korean won rose while bond yields fell. The won was quoted at 1,067.9 per dollar on the onshore settlement platform, 0.53 per cent firmer than its previous close at 1,073.6. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 per cent, after US stocks ended the previous session with mild losses. The current price-to-earnings ratio is 12.10, the dividend yield is 1.28 per cent and the market capitalisation is 1,242.04 trillion won. The trading volume during the session on the KOSPI index was 396,901,000 shares, and of the total traded issues of 886, the number of advancing shares was 333.