Little Movement Anticipated For China Stock Market

RTTNews | Před 572 dny
Little Movement Anticipated For China Stock Market

(RTTNews) - The China stock market on Thursday halted the three-day winning streak in which it had improved more than 35 points or 1.2 percent. The Shanghai Composite Index now rests just above the 3,050-point plateau and it may spin its wheels again on Friday.

The global forecast for the Asian markets is murky, with growth concerns warring with interest rate optimism. The European and U.S. markets were mixed and little changed and the Asian bourses figure to open in similar fashion.

The SCI finished modestly lower on Thursday following losses from the resource stocks and properties, while the financials were mixed.

For the day, the index sank 21.91 points or 0.71 percent to finish at the daily low of 3,050.93 after peaking at 3,071.45. The Shenzhen Composite Index dropped 19.28 points or 1.00 percent to end at 1,915.47.

Among the actives, Industrial and Commercial Bank of China rose 0.21 percent, while Bank of China added 0.51 percent, China Construction Bank collected 0.63 percent, China Merchants Bank fell 0.33 percent, Bank of Communications perked 0.17 percent, China Life Insurance dropped 0.97 percent, Jiangxi Copper skidded 1.11 percent, Aluminum Corp of China (Chalco) retreated 1.36 percent, Yankuang Energy rallied 1.22 percent, PetroChina lost 0.70 percent, China Petroleum and Chemical (Sinopec) sank 0.90 percent, Huaneng Power gained 0.26 percent, China Shenhua Energy was up 0.10 percent, Gemdale shed 0.36 percent, Poly Developments slumped 0.82 percent and China Vanke declined 0.76 percent.

The lead from Wall Street offers little clarity as the major averages opened lower on Thursday and spent most of the day in the red before finishing mixed and little changed.

The Dow dipped 45.74 points or 0.13 percent to finish at 34,945.47, while the NASDAQ rose 9.84 points or 0.07 percent to close at 14,113.67 and the S&P 500 perked 5.36 points or 0.12 percent to end at 4,508.24.

A steep drop by shares of Walmart (WMT) and Cisco Systems (CSCO) weighed on the Dow, while upticks by the NASDAQ and S&P came as the latest U.S. economic data added to recent optimism about the outlook for interest rates.

The Labor Department released a report showing U.S. import and export prices both fell by more than expected in the month of October, capping off an encouraging week of inflation data.

A separate Labor Department report showing initial jobless claims climbed by much more than expected last week, while the Federal Reserve said industrial production fell more than expected in October.

Crude oil prices fell sharply Thursday on fears of a likely drop in energy demand after soft data from the U.S., Europe and Asia raised worries about an economic slowdown. West Texas Intermediate Crude oil futures for December tumbled $3.76 or 4.9 percent at $72.90 a barrel.

read more
Gold Dips As US-China Trade Talks Continue

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.
RTTNews | Před 1 h 50 min
Crude Oil Prices Fade As US-China Talks Progress

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.
RTTNews | Před 1 h 56 min
Canadian Dollar Appreciates Amid Risk Appetite

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.
RTTNews | Před 2 h 37 min
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 | Před 4 h 2 min
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 | Před 4 h 18 min
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 | Před 5 h 25 min
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 | Před 6 h 1 min
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 | Před 8 h 56 min