Renewed Support Anticipated For China Stock Market

RTTNews | 575 dias atrás
Renewed Support Anticipated For China Stock Market

(RTTNews) - The China stock market finished lower again on Friday, one session after ending the two-day slide in which it had eased six points or 0.2 percent. The Shanghai Composite Index now rests just beneath the 3,040-point plateau although it figures to open higher again on Monday.

The global forecast for the Asian markets is mixed to higher on renewed optimism over the outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The SCI finished modestly lower on Friday following losses from the resource stocks, gains from the energy companies and mixed performances from the financials and properties.

For the day, the index lost 14.31 points or 0.47 percent to finish at 3,038.97 after trading between 3,027.09 and 3,044.00. The Shenzhen Composite Index shed 8.10 points or 0.42 percent to end at 1,903.80.

Among the actives, China Construction Bank collected 0.47 percent, while China Merchants Bank retreated 1.63 percent, Bank of Communications perked 0.17 percent, China Life Insurance plunged 3.41 percent, Jiangxi Copper skidded 1.07 percent, Aluminum Corp of China (Chalco) declined 1.56 percent, Yankuang Energy rose 0.15 percent, PetroChina eased 0.14 percent, China Petroleum and Chemical (Sinopec) was up 0.19 percent, Huaneng Power advanced 0.93 percent, China Shenhua Energy rallied 1.24 percent, Gemdale added 0.18 percent, Poly Developments dropped 0.89 percent, China Vanke sank 0.59 percent and Industrial and Commercial Bank of China and Bank of China were unchanged.

The lead from Wall Street is broadly positive as the major averages opened higher on Friday and continued to advance as the day progressed, ending near session highs.

The Dow surged 391.20 points or 1.15 percent to finish at 34,283.10, while the NASDAQ rallied 276.71 points or 2.05 percent to end at 13,798.11 and the S&P 500 jumped 67.89 points or 1.56 percent to close at 4,415.24. For the week, the NASDAQ shot up 2.4 percent, the S&P 500 rose 1.3 percent and the Dow climbed 0.7 percent.

The rally on Wall Street came as traders shrugged off concerns about the outlook for interest rates sparked by remarks from Federal Reserve Chair Jerome Powell on Thursday. Powell said the Fed is unsure rates are at a restrictive level to bring inflation down to 2 percent and warned the central bank would not hesitate to resume raising rates.

Despite Powell's comments, CME Group's FedWatch Tool currently still suggests the Fed is likely to leave interest rates over the next several months before cutting rates in mid-2024.

Stocks initially benefited from a pullback by treasury yields, which surged in afternoon trading on Thursday following a disappointing 30-year bond auction as well as Powell's comments. But the major averages continued to advance over the even though yields rebounded.

Crude oil prices rose sharply Friday, but the most active oil futures contract still suffered a third weekly loss as the disruption threats continued to fade. West Texas Intermediate Crude oil futures for December ended up $1.43 or 1.9 percent at $77.17 a barrel. WTI crude futures shed more than 4 percent in the week.

read more
Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.
RTTNews | 41 minutos atrás
European Stocks Close On Mixed Note

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.
RTTNews | 56 minutos atrás
TSX Up Marginally; Energy Stocks Rise

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.
RTTNews | 2h 4min atrás
U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.
RTTNews | 2h 40min atrás
Eurozone Investor Confidence Strongest In A Year: Sentix

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.
RTTNews | 5h 34min atrás
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Tuesday morning with investors looking for directional clues as they await the outcome of the U.S.-China trade negotiations.
RTTNews | 6h 27min atrás
FTSE 100 Advances; Persimmon, Marks & Spencer Among Top Gainers

FTSE 100 Advances; Persimmon, Marks & Spencer Among Top Gainers

Despite data showing an increase in the nation's unemployment rate, U.K. stocks are up in positive territory a little past noon on Tuesday on selective buying amid some optimism over the ongoing U.S.-China trade talks in London.
RTTNews | 7h 1min atrás
CAC 40 Down Marginally In Cautious Trade

CAC 40 Down Marginally In Cautious Trade

French stocks are largely subdued on Tuesday as investors refrain from making significant moves while awaiting the outcome of the ongoing trade talks between U.S. and Chinese officials in London.
RTTNews | 7h 46min atrás