Last update: Thu, 08 Dec 2016 04pm

Stocks and Bonds


China stocks snapped a three-day streak of losses on Wednesday, helped by a rally in resources shares. The bluechip CSI300 index rose 0.5 percent, to 3,475.75 points, while the Shanghai Composite Index gained 0.7 percent to 3,222.24 points. The indexes were flat at midday. Industry-leading bluechips were still trading near recent lows after China's securities regulator warned about "barbaric" take-over deals by asset managers using illegal funds.

Taiwan stocks edged higher on Wednesday, mainly tracking overseas markets although trading was cautious ahead of the release of the island nation's exports data due after market hours. Exports likely rose for a second month in a row in November from a year ago, after growing at the fastest pace in more than two years in October, a Reuters poll showed.
Hong Kong stocks rose for the second day on Wednesday, lifted by energy and raw materials sectors, but trading was thin as investors were cautious ahead of the European Central Bank's policy meeting on Thursday. Both the benchmark Hang Seng index and the Hong Kong China Enterprises Index added 0.6 percent, to 22,800.92 points and 9,829.58 points respectively.
Australian shares ended Wednesday higher on the back of Wall Street's record close, led by the financial and materials sectors, even after news that the Australian economy contracted last quarter. The S&P/ASX 200 index closed 49.4 points, 0.9 percent, higher at 5,478.1. The financial index was up 1.2 percent with the four major banks gaining over 1 percent each.
Stock markets in the United Arab Emirates outperformed the region on Wednesday while investors booked profits in Saudi Arabian petrochemical shares and Egyptian bluechips. Dubai's main index closed 1.3 percent higher in healthy volume as some large and mid-sized shares, which had been relatively quiet so far this week, gained. Emaar Properties rose 2.4 percent.
The federal government Wednesday raised Rs 147 billion through the auction for Market Treasury Bills. The State Bank of Pakistan (SBP), on December 7, 2016, conducted the auction for the sale of 3-month, 6-month and 12-month MTBs and received bids amounting to Rs 301.808 billion with a realised amount of Rs 296.502 billion. The received bids were much higher than the target of Rs 150 billion, set by the federal government for this auction.
Pakistan Stock Exchange (PSX) has approved the schedule of issue of Right Shares of Next Capital Limited. According to a PSX notice issued on Wednesday, the trading in the Unpaid Rights of the Company will start on this Exchange w.e.f. December 13, 2016. This first settlement date will be December 15, 2016.