FactSet earnings insight report for the S&P 500 estimates 1Q16 earnings to decline by 9.1%. If this holds true, it will be first time since 3Q09 that the index will see four consecutive quarters of year-over-year declines in earnings.
The Hong Kong stock exchange plans to launch renminbi currency futures contracts against the Indonesian rupiah and the Malaysian ringgit in the coming months, its chief executive said on Tuesday (April 12).
There has been a growing push by the Hong Kong Exchanges and Clearing Ltd (HKEx), one of the top five exchanges in Asia, to diversify its revenue streams away from its traditional equity trading business because of weak stock markets.
Japanese stocks rose on Tuesday as the yen began to retreat from the previous day's 17-month high against the dollar, lifting shares of exporters as well as recently battered banks.
The Nikkei share average climbed 1.1 percent to 15,928.79.
Japan's automakers, which rely heavily on overseas sales for profits, outperformed the index after the yen lost about 0.3 percent to the dollar by the end of trading. Honda Motor Co Ltd rose 3.8 percent while Nissan Motor Co Ltd climbed 3.3 percent and shares of Toyota Motor Corp gained 3.9 percent.
China's main stock indexes fell on Tuesday, dragged lower by property and tech shares, as investors took profit from the previous session's more than 1 percent rally.
The blue-chip CSI300 index fell 0.4 percent, to 3,218.45, while the Shanghai Composite Index lost 0.3 percent, to 3,023.65 points.
Hong Kong shares finished firmer on Tuesday, taking their cue from some buoyant markets in the region while shrugging off weakness in mainland China's markets.
The Hang Seng index rose 0.3 percent, to 20,504.44, while the China Enterprises Index gained 0.4 percent, to 8,841.86 points.
Hong Kong shares drew some inspiration from bullish stocks in Japan, where main indexes rose more than 1 percent.
All main sectors in Hong Kong, with the exception of information technology stocks, ended the session in positive territory.
Reference: Seeking Alpha, The Straits Times, Reuters
Reference: Reuters
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