Asian Shares Retreat On US Debt Ceiling Worries

RTTNews | Před 824 dny

(RTTNews) - Asian stocks fell on Wednesday as worries over U.S. debt deal persisted, and investors awaited cues from industrial sector surveys in Europe and the United States.

Spot gold edged lower, and the dollar index held steady as another round of U.S. debt ceiling negotiations ended without resolution.

The kiwi dollar came under pressure against other major currencies after the Reserve Bank of New Zealand surprised markets with a dovish 25-bps rate hike, saying that this would be the final rate hike of the current tightening cycle.

Oil prices hit three-week highs after a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts.

Chinese markets tumbled amid mounting concerns over the outlook for the country's economy.

The benchmark Shanghai Composite index slipped 1.28 percent to 3,204.75 while Hong Kong's Hang Seng index plunged 1.62 percent to 19,115.93.

Japanese shares fell notably as concerns over the U.S. debt limit impasse overshadowed survey results showing that business sentiment at big manufacturers turned positive for the first time in 2023.

The Nikkei average fell 0.89 percent to 30,682.68 while the broader Topix index settled 0.42 percent lower at 2,152.40.

Cosmetics giant Shiseido slumped 5.6 percent and CyberAgent Inc, a major investor in a new share sale in Rakuten Group Inc, tumbled 4.7 percent. Rakuten shares gave up 2 percent.

Toyota Motor jumped 5.4 percent, rebounding from a sudden plunge in the final minute of trading Tuesday.

Seoul stocks ended on a flat note as data showed business sentiment improved slightly for June. The Kospi average finished marginally lower at 2,567.45.

Australian markets ended lower, dragged down by miners and healthcare stocks. The benchmark S&P/ASX 200 dropped 0.63 percent to 7,213.80 while the broader All Ordinaries index closed 0.73 percent lower at 7,392.90.

Mining heavyweights BHP and Rio Tinto fell over 2 percent, tracking weak iron ore prices in top steel producer China.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.23 percent to 11,971.83 as the Reserve Bank indicated that the tightening cycle is over.

Investors shrugged off data showing New Zealand's retail sales volume fell an annual 4.1 percent in the first quarter of 2023, marking its second straight quarterly contraction.

U.S. stocks fell sharply overnight, as growing worries over raising the nation's debt limit overshadowed data showing fairly sharp growth in U.S. private sector activity and a jump in new home sales to a level not seen in over a year.

The Dow shed 0.7 percent, the S&P 500 dropped 1.1 percent and the tech-heavy Nasdaq Composite gave up 1.3 percent as another round of debt ceiling talks ended without an agreement.

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | Před 33 minutami

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | Před 1 h 3 min

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | Před 1 h 18 min

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | Před 1 h 33 min