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Global Equities Roundup: Market Talk

Dow Jones Newswires ·  Nov 18, 2021 13:30

The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

0522 GMT - Australia's S&P/ASX 200 closed 0.1% higher at 7379.2, edging up amid gains by materials stocks. The benchmark ended a run of consecutive losses despite another slip by Commonwealth Bank, which lost 1.5%, a day after the country's largest listed company by market capitalization suffered its fifth biggest share-price fall. The two best-performing ASX components were both in the materials sector. Nufarm bounced 5.2% from the prior day's heavy fall, while Evolution jumped 9.7% as analysts digested its acquisition of the remaining 70% of the Ernest Henry copper-gold mine. A clutch of gold miners including Newcrest, Northern Star and Ramelius rose in its wake, gaining between 1.4% and 2.9%. (stuart.condie@wsj.com; @StuartLCondie)

0511 GMT - Shanghai Baosight Software looks well-positioned to benefit from increased digitization demand from China's steel industry, Jefferies says. The bank reckons that the steel industry is likely to undergo radical changes as 5G and AI technologies develop, as these capabilities would enable real-time data collection, analysis and decisions that are key to heavy industrial processes like steel making. Baosight is at the forefront of developing these technical features such as constant heat data sampling and centralized control rooms, Jefferies says. The company's technologies also have high entry barriers, making its over-65% market share hard to challenge, Jefferies adds. Shares are down 2.1% at CNY71.43. (yifan.wang@wsj.com)

0502 GMT - The Hang Seng Index could soon include more healthcare, IT and consumer stocks in a bid to give more weight to underrepresented sectors with large market capitalization in Hong Kong, China Galaxy International says. It notes the Hang Seng Indexes Company will announce the results of its 3Q review of the Hang Seng family of indexes Friday, with changes effective on Dec. 6. Companies likely up for inclusion are Nongfu Spring, China Resources Beer, BiliBili, SMIC, JD Health, BeiGene and JD Logistics, the broker reckons. China Galaxy adds that the weighting of larger-cap companies like Meituan and Tencent may be reduced due to an 8% weightage cap. (yongchang.chin@wsj.com)

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