Friday, 29 April 2016

GOLD MARKET UPDATE BY RIPPLES

Gold jumped to a seven-week high and silver soared to a 15-month high on Friday, as the dollar remained downbeat after the Bank of Japan surprised markets by standing pat on policy.

Spot gold climbed to as high as $1,280.60 an ounce, its highest since March 11. It pared gains to trade up 0.7 percent at $1,274.41 by 0341 GMT. For the week, the metal is up 3.5 percent in what would be its biggest weekly jump since the week ended Feb 12.

SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, rose 0.19 percent to 804.14 tonnes on Thursday.  

                              Trading Ideas 

Gold trading range for the day is 29111-30015.

Gold gained as the U.S. dollar tumbled against the yen after the Bank of Japan surprised markets by keeping monetary policy steady. 


European Central Bank (ECB) president Mario Draghi defended record low interest rates and explained that Germans have investment options. 


SPDR gold trust holdings gained by 0.19% i.e. 1.49 tonnes to 804.14 tonnes from 802.65 tonnes.

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MORNING TREND


GOLD

SUPPORT: 29350/29500
RESISTANCE: 29800/29950
TREND: UP
                                           
SILVER
SUPPORT: 40400/40700
RESISTANCE: 41500/42000
TREND: UP

CRUDE OIL
SUPPORT: 2950/3010
RESISTANCE: 3100/3150
TREND: UP

COPPER
SUPPORT: 318/321
RESISTANCE: 327/330
TREND: SIDEWAYS


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Idea Cellular Quarterly Net profit Beats Estimates

Idea Cellular, India's third largest telecom company, reported a smaller than expected fall in quarterly profit helped by strong voice and data revenue.

The company, which has 184 million mobile subscribers, posted a 38.9 percent fall in profit to 5.76 billion rupees ($86.60 million) in the three months to the end of March, hurt by higher financing and spectrum fees of its 4G network.

Profit did however exceed the 5.27 billion rupees expected by analysts, according to Thomson Reuters data. The figures are the fourth quarter of the company's financial year.

Idea, along with Bharti Airtel and Vodafone's India unit have been heavily spending on ramping up 4G networks in anticipation of Reliance Industries 4G telecom service launch later this year.

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Mahindra to Build India's First Automobile Shredding Plant

A unit of autos-to-technology group Mahindra intends to set up a network of automobile shredding plants, an executive told Reuters on Thursday after announcing plans to build India's first such facility with a state firm.

India is considering introducing a policy to scrap old vehicles, like the cash-for-clunkers programme the United States tried during the global economic recession to boost auto sales.

India also plans to enforce stricter vehicular emission rules, potentially opening up an opportunity for companies like Mahindra, India's top utility vehicle maker by sales with a market capitalisation of $17 billion, to recycle older cars and trucks.

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Ambuja Cement Net profit Down 4.4 percent

Cement maker Ambuja Cement, which follows the calendar year in financial accounting, on Thursday said it registered a decline of 4.4 percent in its consolidated net profit during the quarter ended March, at Rs.304 crore from Rs.318 crore in the same period last year.

Company's net sales for the quarter fell marginally to Rs.2,418 crore, down 0.3 percent though sales volume rose to 5.86 million tonnes (mt) in the quarter as against 5.35 mt in the corresponding period last year.

"On the back of good cement demand, volume was up by 9.5 percent as compared to corresponding quarter of the previous year. 

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Sensex, Nifty Marginally Higher

The 30-share BSE Sensex rose 124.15 points to 25727.25 and 

the 50-share NSE Nifty advanced 31.95 points to 7879.20.

The broader markets gained 0.4 percent on positive market breadth. 

More than two shares advanced for every share declining on Bombay Stock Exchange.


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FIIs in F&O on April 27

FIIs net buy Rs 103 crore in Index Futures

FII net sell Rs 405 crore in Index Options

FII net sell Rs 1352 crore in Stock Futures


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F&O cues: Nifty 8000 Call adds 7.8 lakh Shares in Open Interest

Nifty 8000 Call added 7.8 lakh shares in Open Interest (OI) on April 28

Nifty 8200 Call added 7.6 lakh shares in OI

Nifty 7700 Put added 15.3 lakh shares in OI


Nifty 7900 Put added 9.6 lakh shares in OI

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Rupee Opens Marginally Higher at 66.48 per Dollar

The Indian rupee has opened marginally higher at 66.48 a dollar on Friday compared to 66.52 per dollar in previous session. 

He feels the rupee is expected to remain rangebound with 66.80 level as a resistance for the dollar. 

weakness in the dollar can help the rupee to appreciate and test Rs 66.20/USD levels.

Meanwhile, the Japanese yen held on to broad gains, having posted its biggest one-day rally in over five years against the greenback and euro after the Bank of Japan skipped a chance to ease policy.

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Asia markets open lower; ASX down 0.21%, Kospi down 0.4%

Asia markets opened lower on the final trading day of the week, following a nearly 1 percent or more decline in US equities overnight. 

Australia's ASX 200 was down 0.21 percent after the open, with declines in the heavily-weighted financials sub-index and the materials sub-index. 

In South Korea, the Kospi was down 0.37 percent. Australian detention center operator Broadspectrum was an early mover, soaring 33.04 percent after reports said its board has approved a takeover bid from Spanish group Ferrovial.

Major US indexes closed down, with the Dow Jones industrial average lower by 1.17 percent, the Nasdaq composite down 1.19 percent and the S&P 500 off by 0.92 percent.

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Indian ADR: Infosys, HDFC Bank Dr Reddy's Lab, Tata Motors Slip

Indian ADRs ended lower on Thursday. In the IT space, Infosys was down 0.33 percent at USD 18.89 while Wipro fell up 0.18 percent at USD 12.16. 

In the banking space, ICICI Bank was down 0.14 percent at USD 7.34 and HDFC Bank slipped 0.65 percent at USD 62.83. 

In the other sectors, Tata Motors shed 0.66 percent at USD 30.71 and Dr Reddy's Laboratories dipped 0.43 percent at USD 46.36.


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Wall Street Sinks on BOJ Fears, Icahn Comments

US stocks closed down on Thursday as the Bank of Japan's shocking call to cap monetary stimulus continued to rattle investors while a late day decline in Apple shares on remarks by billionaire investor Carl Icahn added to selling pressure.

The benchmark S&P 500 had its worst day in three weeks, losing 19.34 points, or 0.92 percent, to 2,075.81, the Dow Jones industrial average fell 210.79 points, or 1.17 percent, to 17,830.76 and the Nasdaq Composite dropped 57.85 points, or 1.19 percent, to 4,805.29.

Nine of the major S&P 500 sectors were lower, with information technology's 1.4 percent fall leading the decliners. Consumer staples rose 0.03 percent.

"This really personifies how important central bank policy is on the market," said Jack Ablin, chief investment officer at BMO Private Bank.


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Thursday, 28 April 2016

TODAY'S NICKEL MARKET UPDATET

Nickel on MCX settled up 0.21% at 610.7 supported by a weaker dollar and strong oil prices. 

 Global nickel markets ended in small deficit of 4,400 tonnes in January-February 2016 with apparent demand exceeding production. The calculated full year surplus had stood at 10.8 kt during the whole year 2015, according to the latest data released by the World Bureau of Metal Statistics (WBMS). Technically market is under short covering as market has witnessed drop in open interest by -6.16% to settled at 11854 while prices up 1.3 rupee, now Nickel is getting support at 604.5 and below same could see a test of 598.3 level, And resistance is now likely to be seen at 615.9, a move above could see prices testing 621.1.

             Trading Ideas

  • Nickel trading range for the day is 598.3-621.1.

  • Nickel prices ended with gains supported by a weaker dollar and strong oil prices.

  • Global nickel demand will slightly outpace supply this year, the International Nickel Study Group said, ending four years of surplus.

  • Output of nickel will drop to 1.913 million tonnes in 2016, although consumption will increase to 1.962 million tonnes, it said. 

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MCX SILVER MARKET NEWS

Silver on MCX settled up 0.93% at 40565 after advancing overnight as investors awaited the Federal Reserve’s monetary policy statement for fresh guidance on the future path of U.S. interest rates. Slowing silver supplies combined with firm manufacturing and investment demand could give silver prices strong support in 2016.

The Fed said short-term interest rates remain unchanged and suggested a gradual path for future interest-rate increases. As U.S. economic data have improved, traders have begun to reconsider the possibility of a rate rise at the next meeting, scheduled for June.


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                   Trading Ideas

  1. Silver trading range for the day is 39842-41260.

  2. Silver extended gains after advancing overnight as investors awaited the Fed’s monetary policy statement for fresh guidance on the future path of U.S. interest rates.

  3. Slowing silver supplies combined with firm manufacturing and investment demand could give silver prices strong support in 2016.

  4. Pending home sales in the U.S. rose more than expected in March, bolstering optimism over the health of the housing sector, industry data showed.   

Today's Crude Market Up Date By Ripples Advisory

Crude futures pulled back from 2016 highs early on Thursday as traders locked in profits after April's sharp rally, but analysts said falling U.S. production and strong investor appetite could push prices higher.

 International Brent crude futures were trading at $47.02 per barrel at 0045 GMT, down 16 cents from their last settlement, and U.S. West Texas Intermediate (WTI) futures were down 12 cents at $45.21 a barrel.

 U.S. crude stocks climbed 2 million barrels last week to an all-time peak of 540.6 million barrels, traders said. U.S. crude futures were down 0.2 percent in early Asian trading at $45.17 a barrel, after hitting their 2016 high of $45.62 following the Fed's decision. Brent also rose to the highest for this year at $47.45, but shed 0.3 percent in Asian trade to $47.04.

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Bankruptcy Code Cleared by Parliamentary panel: Jaitley

The proposed Bankruptcy and Insolvency Code has been cleared by a joint parliamentary standing committee and is likely to be discussed in the current budget session, Finance Minister Arun Jaitley said on Wednesday.

This is among various steps the government is taking to deal with the problem of mounting bad loans of state-run banks, he told a meeting of a parliamentary committee attached to the finance ministry.

The committee took stock of the non-performing assets or bad loans of public sector banks, a finance ministry statement said.

Making opening remarks, Jaitley said there are two categories of defaulters -- those unable to pay back due to economic slowdown and those who were wilful defaulters, including loans sanctioned without due diligence by the banks.


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HCL Tech Q3 Below Estimates; net Up 0.3%, $ Revenue Up 1.3%

The country's pharmaceutical exports reported a 9.7 per cent jump and nearly 33 per cent growth in US markets in FY16, Union Commerce Secretary Rita Teaotia said as per the PTI report. The country's pharma exports stood at Rs 96,000 crore during 2014-15.

"The country's pharmaceutical exports is one of the good stories of Indian exports. We have registered 9.7 per cent jump and 33 per cent growth in exports to US market. We see lot of growth potential of pharma exports in coming years," Teaotia told PTI after inaugurating iPHEX 2016 conference.

Indian industries have managed to maintain and increase their market share in most of the sectors despite countries all over the world experiencing fall in exports, Teaotia said adding that despite the US FDA issues faced by the several domestic pharma companies last year, the huge exports growth of 33 per cent shows our companies are capable of taking challenges.

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HCL Tech Q3 Below Estimates; net Up 0.3%, $ revenue Up 1.3%

HCL Tech has disappointed the street with its January-March quarter results. 

It posted Q3 net profit at Rs 1926 crore up 0.3 percent from Rs 1920 crore in last quarter. Rupee revenue climbed 3.4 percent at Rs 10698 crore against Rs 10341 core on sequential basis. 

In dollar terms, revenue was up 1.3 percent at USD 1587 million against USD 1566.1 million quarter-on-quarter. According to a CNBC-TV18 poll, HCL Tech's net profit was expected at Rs 1963 crore, down 2.2 percent in January-March quarter. 

Dollar revenue was seen up 2.5 percent at USD 1604.5 million in Q3FY16 and rupee revenue was seen at Rs 10805 crore. Constant currency growth in Q3FY16 is seen at 3 percent. 

In constant currency terms, revenue grew 1.7 percent. During the period, utilisation was at 85.6 percent versus 84.7 percent.

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Sensex, Nifty Open in Red on Expiry Day

The market has opened lower on April Future & Options expiry day as global cues weigh on India. 

The Sensex is down 20.47 points at 26043.65 and the Nifty is down 11.45 points at 7968.45. 

About 292 shares have advanced, 163 shares declined, and 35 shares are unchanged. 

Bharti Airtel, Cipla, ONGC, Sun Pharma and Coal India are top gainers in the Sensex while Maruti, Infosys, ITC, HDFC and Reliance are losers.

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Indian ADRs: ICICI Bank, Tata Motors Slip; HDFC Bank Up 0.37%

Indian ADRs ended mixed on Wednesday. In the IT space, Infosys was down 0.01 percent at USD 19.22 while Wipro was up 0.01 percent at USD 12.34.

In the banking space, ICICI Bank was down 0.11 percent at USD 7.48 and HDFC Bank was up 0.37 percent at USD 63.48. 

In the other sectors, Tata Motors was down 0.18 percent at USD 31.37 and Dr Reddy's Laboratories was up 0.34 percent at USD 46.79.


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Rupee Opens Marginally Higher at 66.52/$

The Indian rupee has opened at 66.52 per dollar, up 0.04 percent or 0.02 on Wednesday. 

Ratings says outcome of key central bank meetings, both BoJ and Fed, is expected to keep the balance of risk in favour of EM currencies. She says, with dollar continuing to note headwinds, rupee may benefit in the near term on account of 'risk-on' sentiment. in the near term. 

She is eyeing a range of 66.20-66.85 per dollar on the rupee. The dollar holds near a 3-week high against the yen on expectations of further Bank of Japan easing this week.

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Asia Mkts Mixed in early Trade, as Investors await BOJ Decision

Asian markets traded mixed on Thursday, ahead of a Bank of Japan monetary policy decision, and after most major US indexes held onto gains overnight following the US Federal Reserve's decision to stand pat on rates. 

Australia's ASX 200 was up 0.44 percent in early trade, boosted by advances in the energy, materials and financials sub-indexes. 

In Japan, the Nikkei 225 advanced 1.03 percent, while across the Korean Strait, the Kospi wavered between positive and negative territory before trading down 0.19 percent.


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Wall Street Ticks up as Hawkish Fed Fears ebb; Apple Weighs

US stocks ended slightly higher on Wednesday after fears eased that the Federal Reserve would strongly signal it would raise interest rates in June, though a slump in Apple shares weighed on the Nasdaq index. 

Stocks in the telecom and utilities sectors, seen as proxies for fixed income returns when Treasury yields are expected to remain low, rose sharply after the Fed's announcement. 

That indicates market participants expect US government yields to remain subdued.

"The big takeaway here is they (the Fed) continued to be positive on the domestic economy," said John Bailer, senior portfolio manager at The Boston Company Asset Management. 

"They have taken out some of the risk on the global economy." "It is slightly hawkish in my mind but not enough to get the market worried about it."


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Wednesday, 27 April 2016

Copper Market Up Date By Ripples

Copper prices fell by 0.70 per cent on Wednesday after Japan’s all industries activity index fell last month, official data showed on Wednesday signaling weak sentiment in the region which reduced the demand outlook for the metal. In a report, Japanese Ministry of Economy, Trade and Industry said that Japan’s All Industries Activity Index fell to a seasonally adjusted -1.2 per cent, from 1.2 per cent in the preceding month whose figure was revised down from 2.0 per cent.

At the MCX, copper futures for April 2016 contract were trading at Rs.326.75 per 1 kg, down by 0.70 per cent, after opening at Rs. 328 against the previous closing price of Rs. 329.05. It touched the intra-day low of Rs. 326.25 till the trading. (At 3.50 PM today). However, losses were limited due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 275 metric tonnes to 152200 metric tonnes as on April 27, 2016.

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Sensex, Nifty end at 2016 Closing High; Banks Drag, FMCG Soar

Both the benchmark indices were at 2016 closing high ahaed of April Futures & Option expiry tomorrow. 

The Sensex ended up 56.82 points or 0.2 percent at 26064.12,

 and the Nifty was up 17.25 points or 0.2 percent at 7979.90. 

About 1274 shares have advanced, 1281 shares declined, and 193 shares are unchanged. FMCG, banks and oil & gas stocks lend support to the market. 

Adani Ports, Bharti, ONGC, GAIL and M&M were top gainers while ICICI Bank, Axis Bank, SBI, Hindalco and BHEL were losers in the Sensex.


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Today's NCDEX Market Update

Chana on NCDEX settled down by -1.54% at 5368 due to profit booking and as the arrival season having got under way. Meanwhile, centre has told to State governments to avail this benefit and utilize the available stocks for managing the prices of pulses in their respective States.Centre has decided to release 10,000 tons of pulses and it asked state government to place their order. 

On Saturday, Odisha government told that it would purchase 5,000 tons of pulses from the central government to check the skyrocketing price of the pulses in the state. According to IBIS (provisional data), import of pulses in the week (11 Apr-17 Apr) was around 81 Thousand tonnes at major ports in India, around 7% lower than previous week (04 Apr-10 Apr) import of 88 Thousand tonnes. At Vijaywada market in Andhra Pradesh total arrivals are at 1500 quintals, higher by 500 quintals from previous day’s arrivals.
                                    
    Trading Ideas

Chana trading range for the day is 5217-5643.

Chana prices ended with losses due to profit booking and as the arrival season having got under way.

Centre has told to State governments to avail this benefit and utilize the available stocks for managing the prices of pulses in respective States.
NCDEX accredited warehouses chana stocks dropped by 137 tonnes to 3399 tonnes.
In Delhi spot market, chana gained by 46.15 rupee to end at 5546.15 rupee per 100 kgs.
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MCX MORNING TREND BY RIPPLES

GOLD

SUPPORT: 28900/29050
RESISTANCE: 29350/29500
TREND: UP

 SILVER

SUPPORT: 39400/39700
RESISTANCE: 40500/40900
TREND: UP



CRUDE OIL
SUPPORT: 2840/2890
RESISTANCE: 2990/3040
TREND: UP


 

COPPER
SUPPORT: 323/326
RESISTANCE: 332/335
TREND: SIDEWAYS






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Axis Bank Expects more bad Loans in FY17 as Q4 profit Falls

Axis Bank Ltd, India's third-biggest private sector lender by assets, said it expected bad loans to rise in the current financial year and credit costs to be sharply higher, after reporting a fall in fourth-quarter profit.

Indian banks' bad loans have surged in the past six months after an asset quality review ordered by the central bank as part of a clean-up exercise.

Mumbai-based Axis Bank expects more bad loans in the financial year that began in April, finance chief Jairam Sridharan said, although he expected "some remission" towards the end of the year.

"Our outlook with respect to asset quality...continues to remain cautious," he said on a conference call.


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Today's Mcx Market Update By Ripples Advisory

Crude oil prices hit 2016 highs on Tuesday on the back of a rally in the gasoline market and after an industry group reported a surprise draw in U.S. crude stockpiles.

Brent and U.S. crude's West Texas Intermediate (WTI) futures finished regular trading about 3 percent higher, riding on the coattails of a gasoline rally that hit August highs after a series of refinery hikes.

In post-settlement trade, both benchmarks rose more than 4 percent after the American Petroleum Institute reported a drawdown of nearly 1.1 million barrels in U.S. crude inventories last week versus a 2.4 million-barrel build expected by analysts in a Reuters poll.

The API report is a precursor to official inventory data due on Wednesday from the U.S. Energy Information Administration.

Brent crude futures finished up $1.26 at $45.74 a barrel. In post-settlement trade, it rose as much as $2.01 to a 2016 high of $46.49.


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Maruti Suzuki eyes Africa Investment after Quarterly Profit Fall

India's biggest carmaker Maruti Suzuki India is conducting a feasibility study for a new assembly plant in Africa, a top executive said after the company posted its first fall in quarterly net profit in two years.

A push into Africa, where there is high demand for small, inexpensive cars, makes sense for the likes of Maruti Suzuki, analysts have said. Establishment of it own plant in the region could also help it to contend with stricter rules on local sourcing, which have weighed on its exports to the region.

Maruti is evaluating the suitability of different African markets for an assembly plant, managing director Kenichi Ayukawa told reporters on Tuesday, adding that the study is in its early stages.


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Sensex, Nifty Open in Red

The market has opened lower as the Sensex is down 86.39 points or 0.3 percent at 25920.91. 

The Nifty is down 20.95 points or 0.3 percent at 7941.70. 

About 279 shares have advanced, 121 shares declined, and 31 shares are unchanged. 

Bharti Airtel, ONGC, Adani Ports, Coal India and BHEL are top gainers while Axis Bank, ICICI Bank, M&M, Maruti and Dr Reddy's Labs are losers in the Sensex.


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Rupee opens Marginally Higher at 66.52/$

The Indian rupee has opened at 66.52 per dollar, up 0.04 percent or 0.02 on Wednesday. 

outcome of key central bank meetings, both BoJ and Fed, is expected to keep the balance of risk in favour of EM currencies. She says, with dollar continuing to note headwinds, rupee may benefit in the near term on account of 'risk-on' sentiment. in the near term. 

She is eyeing a range of 66.20-66.85 per dollar on the rupee. 

The dollar holds near a 3-week high against the yen on expectations of further Bank of Japan easing this week.


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Asia Mixed; ASX Up 0.5%, Nikkei Flat, Kospi Down 0.12%

Asia markets were mixed in early trade on Wednesday, ahead of key central bank decisions from the US Federal Reserve, the Bank of Japan (BOJ) and the Reserve Bank of New Zealand in the next 48 hours. 

Australia's benchmark ASX 200 was up 0.45 percent, led by advances in the financials, energy and materials subindexes. In Japan, the Nikkei 225 initially advanced 0.25 percent before giving up gains to trade flat, while across the Korean Strait, the Kospi was down 0.12 percent. 

Stateside, the Dow Jones industrial average was up 0.07 percent, the S&P 500 finished 0.19 percent higher and the Nasdaq composite was down 0.15 percent.


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