Tuesday, December 22, 2009

Research Analyst on 22/12/2009 (Karachi Stock Exchage)

With strong fundamentals, market is giving support at 9,000 levels despite the current grim law and order situation and political chaos. Moving forward, as soon as clarity arrives on the political front immediate positive activities can hit the market in coming weeks. Therefore investors are advised that in the case of decline they can invest in fundamentally strong stocks of banking, oil marketing and fertiliser sectors and then wait for January-end because market would have achieved good levels by then. Approval of IMF tranche, good economic outlook and improving political situation can provide support to the market. Supreme Court's judgment on different petitions would also play a vital role in setting the direction of the market.

Karachi Stock Exchange (KSE) surges on offshorers

Equities at Karachi Stock Exchange (KSE) ended higher on first day of the week mainly due to foreign investors' participation and buying in banking stocks however turnovers remained low due to ongoing political turmoil.

The benchmark KSE 100-Index surged by 0.54 per cent or 49.87 points to close at 9,233.60, KSE 30-Index jumped by 0.54 per cent or 52.51 points to end at 9,705.41, while KSE All Share Index gained value by 0.52 per cent or 34.15 points to finish at 6,554.40 levels.

The day started on a positive note with a gain of 25 points; positive activities then managed to continue as buying continued mainly in the banking stocks however volumes were low as investors were reluctant to take positions due to the ongoing political chaos. Therefore after remaining in green zone during first two hours market witnessed some profit-taking. As a result index then showed some mixed activities for a couple of hours moving in both territories where at one moment it touched an intra-day low of 9,172 points (-ve 11 points). However renewed buying activity at lower levels allowed the bulls to take a comeback and market once again managed to stay in positive where at about 1507 PST it hit the highest level of the day of 9,241 points (+ve 58 points) and finally closed in the green zone.

Some improved activities witnessed by the foreign investors where according to the National Clearing Company of Pakistan Limited (NCCPL) figures, there was a net foreign buying of $3.6 million Monday.

He said that LOC unit holders of NIT including NBP and FABL led the rally in banking sector on capital gain expectations. Rise in international oil prices, strong valuations & institutional support in blue chips played a catalyst role in positive activity at the KSE, he added.

Investor participation was depressed throughout the day as 78.7 million shares were traded in the overall market which is 18 million shares less as compared to a turnover of 96.8 million shares Friday. Out of total 400 active issues, 202 advanced and 173 declined while 25 issues remained unchanged.

Bumbai Stock Exchange (BSE) India Declines to 6-week low

Indian shares fell 0.71 per cent Monday, a third straight fall taking them to a six-week closing low, with Larsen & Toubro and Bharti Airtel leading the losses as fund activity wound down into year-end.

Engineering and construction firm Larsen & Toubro declined 2.4 per cent, contributing most to the fall in the index, and state-run infrastructure firm Bharat heavy Electricals fell 1.35 per cent.

The index, powered by foreign buying of $16.5 billion of stocks up to mid-December, is up 72 per cent this year. But it is about 5 per cent below 17-month highs just under 17,500 hit in October, and has lost momentum as foreigners close their books for the end of the year. The 50-share NSE index closed down 0.7 per cent at 4,952.60.

Saturday, December 19, 2009

Karachi Stock Exchange (KSE) witnesses bearish Friday

Negativity prevailed at the Karachi Stock Exchange (KSE) on the last day of the week with very low volumes as investors preferred to stay sidelined over political turmoil arising out of the Supreme Court's decision on NRO.

The benchmark KSE 100-Index shed 0.47 per cent or 43.45 points to finish at 9,183.73 levels, KSE 30-Index lost 0.87 per cent or 84.64 points to close at 9,652.90, whereas KSE All Share Index dropped 0.43 per cent or 28.45 points to end at 6,520.25 levels.

He further stated that investors also remained concerned over prevailing security situation in the country.

Trading activities started on a positive note with a gain of 17 points thereafter market saw some mixed activities during the first hour of the session moving in both territories where at one stage index touched an intra-day high of 9,258 points (+ve 31 points). After which some pressure witnessed as investors were worried over the current political situation in the country therefore index went down into the red zone and closed the first session with a loss of 24 points.

Red numbers were increased during the second session due to law and order situation in the country and news of NAB taking action against ministers therefore the key index went down to touch its lowest level of the day of 9,137 points (-ve 89 points). However some buying at lower levels mainly in E&P stocks allowed the index to end with reduced losses.

Though market ended in the negative zone but buying was witnessed by the foreign investors as according to the National Clearing Company of Pakistan Limited (NCCPL) figures, there was a net foreign buying of $2 million Friday.

Investor participation was much depressed as 96.8 million shares changed hands which are 110 million shares less as compared to a turnover of 206.8 million shares a day earlier.

Out of total 384 active issues, 201 declined and 160 advanced while 23 issues remained unchanged.

HK, China hit 3-wk low on banks, estate

Shares in Hong Kong and China fell to three-week low, led by banks and properties, after tough new proposals by banking regulators and Beijing's tighter curbs on buying government land reignited fears about the sectors' outlooks.

Hong Kong's benchmark Hang Seng Index ended down 0.8 per cent or 171.75 points at 21,175.88, retreating for a fourth straight session. For the week, the index has fallen 3.3 per cent on fears of more fund outflows as the US dollar strengthens. Brokers said the market was likely to extend its sell-off.

Turnover rose to HK$69.75 billion ($8.99 billion), from Thursday's HK$66.60 billion.
The China Enterprises Index of top locally listed mainland Chinese stocks closed down 1.33 per cent at 12,334.82.

The Shanghai Composite Index fell 2.05 per cent or 65.192 points to finish at 3,113.886, slipping for a fourth day in a row. The index posted a 4.1 per cent loss this week.

Losing Shanghai A shares far outnumbered gainers by 836 to 55, while turnover slipped to a one-week low of 116 billion yuan from Thursday's 123 billion yuan.
The property sub-index dropped 5.42 per cent. Property issues were hard hit with industry heavyweight China Vanke losing 6.03 per cent, while China Merchants Property sank 8.97 per cent.

The index has been pressured over the past week by concerns about rising share supplies. The index once dropped below its 60-day moving average, now at 3,112 points, for the first time in seven weeks, although it drew some support Friday.

Friday, December 11, 2009

Research Analyst on 11/12/2009 (Karachi Stock Exchage)

Strong support is likely to remain as long as foreign investors are active while recovery in Dubai markets would also come to rev up stocks. International oil prices may increase and strong valuation in oil, banks and fertiliser sectors are also having good sheen. Investors can invest in banking, fertiliser and power sectors. Rise in international oil prices, resolution of circular debt and arrival of IMF loan tranche would play vital role in market proceedings in the days to come. Market would be mixed to positive today.

Karachi Stock Exchange (KSE) Draws Gains From Moody's

Bulls extended their lead at Karachi Stock Exchange (KSE) Thursday which gained over 1 per cent to close near 9,000 levels with improved investor participation as Moody's maintained country's ratings as stable, while improved security situation and better economic numbers also played catalyst role.

The benchmark KSE 100-Index jumped by 1.06 per cent or 93.96 points to close at 8,999.39, KSE 30-Index climbed by 1.16 per cent or 108.95 points to end at 9467.24 levels, whereas KSE All Share Index surged by 0.99 per cent or 62.62 points to finish the day at 6394.64 levels.

Market started the session with 24 points into the green territory. Gains were then multiplied as investors went on a buying spree at attractive levels mainly on improved law and order situation while news of Moody's report also came to support the rally. Therefore index crossed the 9,000 levels and at about 1308 PST, it touched an intra-day high of 9,029 points (+ve 124 points). However some profit-taking at higher levels reduced some of the gains as the key index failed to sustain 9,000 levels at the end of the day.

Santosh Kumar, analyst at Darson Securities informed TFD that regardless of the negative news that banks face Rs8 billion Sukuk default and Qadirpur Gas Field is on the brink of collapse, market remained green throughout the session led by the usual suspects (MCB, ENGRO, PPL, POL, AICL and NML).

Volumes showed an impressive improvement as 118.9 million shares were traded which are 39.2 million shares more as compared to a turnover of 79.7 million shares a day earlier.

Out of total 391 active issues, 226 advanced and 146 declined while 19 issues remained unchanged.

Karachi Stock Exchange (KSE) Draws Gains From Moody's

Bulls extended their lead at Karachi Stock Exchange (KSE) Thursday which gained over 1 per cent to close near 9,000 levels with improved investor participation as Moody's maintained country's ratings as stable, while improved security situation and better economic numbers also played catalyst role.

The benchmark KSE 100-Index jumped by 1.06 per cent or 93.96 points to close at 8,999.39, KSE 30-Index climbed by 1.16 per cent or 108.95 points to end at 9467.24 levels, whereas KSE All Share Index surged by 0.99 per cent or 62.62 points to finish the day at 6394.64 levels.

Market started the session with 24 points into the green territory. Gains were then multiplied as investors went on a buying spree at attractive levels mainly on improved law and order situation while news of Moody's report also came to support the rally. Therefore index crossed the 9,000 levels and at about 1308 PST, it touched an intra-day high of 9,029 points (+ve 124 points). However some profit-taking at higher levels reduced some of the gains as the key index failed to sustain 9,000 levels at the end of the day.

Santosh Kumar, analyst at Darson Securities informed TFD that regardless of the negative news that banks face Rs8 billion Sukuk default and Qadirpur Gas Field is on the brink of collapse, market remained green throughout the session led by the usual suspects (MCB, ENGRO, PPL, POL, AICL and NML).

Volumes showed an impressive improvement as 118.9 million shares were traded which are 39.2 million shares more as compared to a turnover of 79.7 million shares a day earlier.

Out of total 391 active issues, 226 advanced and 146 declined while 19 issues remained unchanged.

Nikkei Falls On Yen, Credit Woes

Japan's Nikkei average fell 1.4 per cent Thursday after a recent sharp rebound, as credit troubles overseas weighed on investor confidence and a stronger yen pressured shares of exporters.

"Credit worries in places like Dubai and Spain are curbing investors' appetite to keep buying stocks, sending the market lower," said Soichiro Monji, a chief strategist at Daiwa SB Investments.

In light trade, the benchmark Nikkei lost 141.90 points to 9,862.82, falling for a third day after having gained nearly 12 per cent in a six-day rally to Monday. The broader Topix retreated 1.3 per cent to 873.90.

Suzuki dropped to 2,215 yen. Among other exporters, Honda Motor Co slipped 1.5 per cent to 2,930 yen and Toyota Motor Corp shed 1.6 per cent to 3,650 yen. But Sanyo Electric surged 10.7 per cent to 176 yen following the closure of Panasonic Corp's tender offer the previous day, with Panasonic expected to take a majority stake, leading to synergies between the two electronics firms.

Election 2010 - Karachi Stock Exchange BoD

Amin Yusuf

There should be securities-based margin in Deliverable Futures rather than cash-based
Develop system-based leverage product which would be user-friendly Settle investor claims sooner and return them maximum possible portion of their claims Implement sector trading, option trading Steps to increase investor size like road shows etc Launch Margin Trading in the earliest possible time after its approval from SECP Bring more companies through Initial Public Offering (IPOs)
Steps to improve investor confidence.

Haji Ghani Haji Usman

Implement Margin Financing & Margin Trading at the earliest Solve issues between banks and members politely To give maximum possible return to investors against their claims Members’ issue be resolved amicably Would take measures to improve investor confidence.

Tuesday, December 8, 2009

Research Analyst on 08/12/2009 (Karachi Stock Exchage)

Market would show rangebound activities and index can further lose 200-300 points as there is uncertainty over the National Reconciliation Ordinance issue, lack of institutional activity due to year-end and limited foreign interest due to holidays ahead. Therefore investors are suggested to wait for the market to come down to 8700-8800 levels then invest in stocks in banking, oil and fertilizer sectors with dividend yield and price appreciation. Good corporate results would support the market. Market performance would stay weak today.

Karachi Stock Exchange (KSE) Turnover Hits 5mth Low

Karachi Stock Exchange (KSE) continued to register dull activities on first trading day of the week with volumes reducing to over 5-mth low and index finally going below psychological barrier of 9,000 owing mainly to deteriorating law and order situation and political uncertainty over NRO.

The benchmark KSE 100-Index declined by 16.21 points or 0.18 per cent to close at 8,992.92 levels, KSE 30-Index shed 24.08 points or 0.25 per cent to end at 9,440.05, whereas KSE All Share Index lost 12.74 points or 0.20 per cent to finish the first trading session of the week at 6,396.22 levels.

Market remained lacklustre as volumes were 23-week low. Moreover year-end also restricted institutions to take fresh positions at the trading counter, he added.
Investor participation remained very low right throughout the day as 73.7 million shares were traded in the overall market which is the lowest of over five months as 42.6 million shares were traded on July 3, 2009 while it is 31 million shares less as compared to a turnover of 103.7 million shares traded Friday.

Trading activities started with a gain of 20 points and after remaining in the positive zone for around two hours where during the initial moments it touched an intra-day high of 9,045 points (+ve 36 points). However investor participation was limited as they were reluctant to take positions over current grim political and security situation in the country. Then after the news of bomb blast in Peshawar and Quetta some negative activities witnessed and index went down into the negative zone where at about 1438 PST it touched an intra-day low of 8,979 points (-ve 29 points) and finally closed near those levels.

Foreign investors also showed limited interest as according to the National Clearing Company of Pakistan Limited (NCCPL), there was a net foreign buying of $0.6 million Monday. However local companies and banks did a net buying of $3.82 and $2.42 million respectively, while NBFC did a net selling of $6.27 million.

Out of total 396 active issues, 202 declined and 164 advanced while 30 issues remained unchanged.

Karachi Stock Exchange (KSE) declares eligible scrips for short selling in 30-Index

The Board of Directors of Karachi Stock Exchange (KSE) has approved KSE 30-Index as eligible securities for short selling under ready market, effective from January 4, 2010.

According to KSE announcement here Monday, these securities include Arif Habib Ltd, Adamjee Insurance, Azgard Nine Ltd, Attock Petroleum Ltd, Attock Refinery Ltd, Bank Al-Habib, Bank Alfalah, DG Khan Cement, Engro Chemical, FFBL, FFC, HBL, HUBCO, ICI Pakistan, Jahangir Siddiqui Co, Kot Addu Power Company Ltd, Lucky Cement, MCB Bank, NBP, Nishat Mills, National Refinery, OGDC, Pakistan Reinsurance, Packages Ltd, POL, PPL, PSO, PTCL, Shell Pakistan Ltd and UBL.

Dubai falls to 20-wk low as govt shields assets

Dubai's index slumped to a 20-week low Monday after the emirate's government said it would not sell assets to meet the multi-billion dollar obligations of state-owned Dubai World.

The move to ring-fence Dubai's assets sent the index tumbling 5.8 per cent to its lowest close since July 22. Dubai's woes also shaped trading on regional markets, with the Saudi index slipping to a four-week low as banks declined. Banks lifted Oman's index to a higher close after the country's central bank said Omani lenders did not need to take provisions to cover $77 million combined exposure to Dubai World.

Monday, December 7, 2009

Lahore Stock Exchange (LSE) Sheds Little Value

LAHORE: Lahore Stock Exchange (LSE) witnessed bearish trend here Monday as its benchmark LSE 25-Index lost 7.11 points to close at 2,736.70 points as compared to 2,743.81 points Friday.

Market volumes also witnessed decreasing trend as a turnover of 5.956 million shares were traded as compared to 13.083 million shares traded the other day, depicting a huge decline by 7.127 million shares.

A total of 91 active scrips exchanged hands during the course of the day, out of
which prices of only 16 issues moved up the board, 41 remained in the negative column while rates of other 34 equities remained unchanged.

The Bank of Punjab Limited proved to be the volume leader of the day with 0.877 million shares traded in the scrips, followed by SilkBank Limited with 0.797 million shares and Javed Omer Vohra Limited with 0.701 million shares.

Thursday, December 3, 2009

Research Analyst on 03/12/2009 (Karachi Stock Exchage)

Lacklustre trading activities are likely to prevail in short term where the main index would move between 8,700 and 9,300 levels till any major development takes place. Investors are suggested to adopt 'Buy on dips' strategy where they can invest in banking and textile sectors. Arrival of IMF loan tranche and major success in Operation Rah-e-Nijat could trigger the market in short term. Market would be rangebound today.

Oils Fuel 100-Index Up

After Dubai debt storm blew away stocks value at the Karachi Stock Exchange (KSE) Tuesday, bulls made a strong come back Wednesday as the main index gained 75 points on buying in oil stocks.

The benchmark KSE 100-Index surged by 74.66 points or 0.83 per cent to close at 9,087.70 levels, KSE 30-Index gained 88.43 points or 0.93 per cent to end at 9,571.35 levels, whereas KSE All Share Index piled up 53.55 points or 0.84 per cent to finish at 6,453.43 levels.

Trading activities started on a positive note with main index piling up 47 points in the beginning. Gains were then gradually increased as investors took positions mainly in oil stocks due to higher international oil prices while some support was also seen in a number of banking and fertiliser stocks. Therefore index at about 1056 PST touched its intraday high of 9,132 points (+ve 119 points). However, some profit-taking witnessed at higher levels which reduced the index gains and it failed to sustain 9,100 levels at the end of the day.

Investor participation saw a marginal improvement as 92.3 million shares were traded Wednesday as compared to a turnover of 89.8 million shares of Tuesday, depicting an increment by 2.5 million shares.

Out of total 363 active issues, 202 advanced and 146 declined while 15 issues remained unchanged.

Qatar Bucks Gulf’s Negativity

Qatari stocks surged Wednesday as bucking a downward trend in Gulf Arab markets triggered by fears over the fortunes of troubled Dubai World. Qatar Telecom rocketed 7.9 per cent, Industries Qatar surged 6.6 per cent, Qatar National Bank finished up 6.4 per cent and Qatar Gas Transport (Nakilat) increased by 5 per cent.

Kuwaiti Mobile telephone firm Zain was one of the main factors behind Kuwait's decline after news that Indian state-owned telecommunications firm, Bharat Sanchar Nigam Ltd (BSNL) had put its plan to buy into the company on hold. Zain ended down 1 per cent after see-sawing between a gain and a loss of as much as 6 per cent during the session which saw the index end 1.4 per cent lower at 6,651 points.

"Kuwait is following its own fundamentals which are not so good at the moment," said Shakeel Sarwar, head of asset management at Sico Investment Bank in Bahrain.
"The Zain issue has been a major drag on the Kuwait market in the last three months, and there is still downward pressure on its share price".

Bahrain ended marginally lower with only a few stocks traded. The index closed down 0.12 per cent at 1,437 points.

Karachi Stock Exchange (KSE) Extends SIND Suspension

Karachi Stock Exchange (KSE) has extended the suspension period of Sind Alkalis Ltd (SIND) for another 60 days upon failing to comply with KSE requirements. According to KSE, the action, effective from December 3 has been taken to protect the interest of traders and public.

Wednesday, December 2, 2009

Research Analyst on 02/12/2009 (Karachi Stock Exchage)

Market is likely to record mixed activities in the short term over uncertainty in the global markets owing to Dubai debacle, security situation in the country and NRO-related developments. Market would show dependency on international stock markets in the near term. However long-term outlook of the market is bullish and investors are advised to invest for a longer period of time. Inflow from Friends of Democratic Pakistan (FoDP) and International Monetary Fund (IMF) would be the supportive factors for the market. It would witness rangebound trading activities today.

Dubai Woes Devastate Karachi Stock Exchange (KSE)

Equities at Karachi Stock Exchange (KSE) declined over 2 per cent after a four-day holiday Tuesday on fears that fallout from the Dubai debt contagion could reignite global financial turmoil, while political uncertainty and grim security situation also hampered the investor confidence.

Although, the benchmark KSE 100-Index slumped by 2.1 per cent or 193.17 points it managed to sustain 9,000 levels and closed at 9,013.17, KSE 30-Index plunged by 2.3 per cent or 223.56 points to finish at 9,482.92 levels, whereas KSE All Share Index declined by 1.98 per cent or 129.56 points to end at 6,399.88 levels.

Dubai last week asked creditors of government-controlled Dubai World and Nakheel for a delay on debt repayments as a first step to restructuring.

He further elaborated that there were fears that the recent credit woes could halt or slowdown the pace of remittances and FDI flows into the country. Moreover, declining Pakistan dollar bond prices also discouraged investors as it could raise the risk premium of the country, he added. Punjani further noted that investors remained cautious over political uncertainty in the backdrop of end of National Reconciliation Ordinance (NRO) tenure.

Market started the day with 91 points into the negative zone; thereafter red numbers accumulated quickly and within just 30 minutes after the opening bells index breached the psychological barrier of 9,000 points and touched its intra-day low of 8,985 points (-ve 220 points) as investors who were worried over the Dubai financial crises preferred to take an exit from the market. Adding to the pressure was the blast in Swat and uncertainty on the political front.

Therefore selling continued mainly in oil, banking and fertiliser sectors and market remained in the negative zone right throughout the day but managed to close just above 9,000 levels.

Volumes were slightly better as 89.8 million shares traded in the market which is 5.2 million shares more as compared to turnover of 84.6 million shares Thursday. Out of total 350 active issues, 227 declined and 105 advanced while 18 issues remained unchanged.

UAE Markets Lead Regional Slum

DUBAI: Real estate stocks weighed on Dubai's index Tuesday, pressing it lower a second day on continued uncertainty over debt restructuring at state-owned group Dubai World.

"There was buying in selected stocks, and towards the end of the session we saw buying in Emaar," said Ayman el-Saheb, director of operations at Darahem Financial Brokerage. "The panic is not yet over, but people are becoming aware this is not a catastrophe.

The index declined 5.6 per cent to 1,831 points. In Abu Dhabi, banking stocks fell on growing concern about their possible exposure of UAE banks to the indebted companies. So far, only National Bank of Abu Dhabi has officially disclosed its exposure. Union National Bank, Abu Dhabi Commercial Bank, and First Gulf Bank all fell around 9.8 per cent in the absence of any statement on their exposure.

Financial stocks led declines in Kuwait after the central bank governor said two Kuwaiti lenders had a total exposure of $118 million to Dubai World and Nakheel.

Gulf Bank slumped 8.5 per cent and Kuwait Finance House dropped 5.5 per cent. Similarly, banking stocks took a beating in Qatar, with Qatar National Bank and Doha Bank both tumbling around 9 per cent.

Tuesday, December 1, 2009

Research Analyst on 01/12/2009 (Karachi Stock Exchage)

Market is expected to show negative activities in the short term due to current political situation however medium term outlook of the market is positive where index could touch 9,900 levels by June end. Investors are advised to stay sidelined. Good corporate results would be the next trigger for the market. Market would perform negatively today.

KSE Sheds 1pc in Week on NRO

KARACHI: Dull trading activities witnessed at the Karachi Stock Exchange (KSE) last week which shed over 1 per cent with low investor participation who stayed reluctant to take positions ahead of Eid holidays and uncertain political situation over NRO issue.

The benchmark KSE 100-Index declined by 100 points or 1.08 per cent to close at 9,206 points, KSE 30-Index dropped 119 points or 1.22 per cent to close at 9,706 points while KSE All Share Index lost 64 points or 0.98 per cent to close at 6,529 points.

The week started on a bearish note where on the first day of the week on Monday index shed 84 points due to political turmoil in the country over National Reconciliation Ordinance (NRO) while uncertainty regarding reduction in interest rates also negatively affected the investor sentiments and they preferred to take an exit from the market with volumes reducing to near 5-month low.

However, market showed dull trading activities during the remaining three days of the week as investors opted for staying out of the market proceedings owing to a long weekend ahead. Reduction in interest rates too didn't see any major reaction as market had already discounted a 50bps reduction. Therefore on Tuesday index gained 11 points, on Wednesday it lost 29 points and on Thursday it closed with just 1 point up into the green zone. Index at one stage during intraday trading Thursday touched its lowest level of the day of 9,168 points.

Investor participation was much lower throughout the week as near 318 million shares were traded which are 473 million shares less as compared to a turnover of 791 million shares a week earlier. Average daily volumes reached 79 million shares per day which is near 79 million shares less as compared to a an average daily turnover of 158 million shares a week earlier.

Banks Push Hong Kong, China Higher

Hong Kong and Shanghai shares rebounded Monday with banks recovering from steep losses as worries about Dubai's debt problems eased and as Chinese authorities reassured investors they would stick with economic stimulus.

Brokers said sentiment remained cautious though worries over Dubai's debt issue had eased. "Since we don't expect the Dubai issue to have much immediate impact, the market's sentiment is very cautious and the focus is now on the US dollar," said Conita Hung, head equity research from Delta Asia Financial.

The index can test the upside at the 22,000 level if dollar weakness remains, she added.

Analysts said the sluggish market debut in Hong Kong signalled a weak investor appetite for a casino gaming company with a high valuation and an uncertain outlook. Its closest rival Wynn Macau rose 3.6 per cent to HK$9.57.

China's key stock index rose 3.2 per cent Monday, posting a third consecutive monthly gain, led by consumer-related and brokerage shares after authorities reassured investors they would stick with economic stimulus, sparking a market rebound after last week's slide.