Asian Markets Trading Mixed

RTTNews | vor 860 Tagen
Asian Markets Trading Mixed

(RTTNews) - Asian stock markets are trading mixed on Friday, following the broadly positive cues from global markets overnight, amid ongoing concerns about the outlook for interest rates following recent economic data. Traders are also looking to pick up stocks at a bargain following the recent weakness. Asian markets ended mixed on Thursday.

The Australian stock market is notably higher on Friday, extending the slight gains in the previous session, with the benchmark S&P/ASX 200 moving to near the 7,300 level, following the broadly positive cues from global markets overnight, with gains in mining and energy stocks amid firmer metals prices and higher crude oil prices.

The benchmark S&P/ASX 200 Index is gaining 29.90 points or 0.41 percent to 7,285.30, after touching a high of 7,288.20 earlier. The broader All Ordinaries Index is up 26.80 points or 0.36 percent to 7,486.80. Australian markets ended slightly higher on Thursday.

Among major miners, BHP Group and Mineral Resources are gaining almost 1 percent each, while OZ Minerals and Fortescue Metals are edging up 0.1 to 0.2 percent each. Rio Tinto is adding more than 1 percent.

Oil stocks are higher. Beach energy, Woodside Energy and Santos are gaining almost 1 percent each, while Origin Energy is flat.

Among tech stocks, Afterpay owner Block is surging more than 4 percent and Xero is edging up 0.1 percent, while WiseTech Global and Zip are adding almost 2 percent each. Appen is edging down 0.4 percent. Among the big four banks, ANZ Banking and National Australia Bank are gaining almost 1 percent each, while Commonwealth Bank and Westpac are edging up 0.2 to 0.3 percent each.

Gold miners are mostly lower. Northern Star Resources is edging down 0.4 percent, Gold Road Resources is losing more than 2 percent and Evolution Mining is declining more than 1 percent, while Newcrest Mining and Resolute Mining are gaining almost 1 percent each.

In economic news, the services sector in Australia bounced back up into expansion in February, the latest survey from Judo Bank revealed on Friday with a services PMI score of 50.7. That's up from 48.6 in January, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the composite PMI improved to 50.6 in February from 48.5 in January.

In the currency market, the Aussie dollar is trading at $0.674 on Friday.

The Japanese stock market is sharply higher on Friday, recouping the losses in the previous session, with the benchmark Nikkei 225 moving to a tad below the 27,900 level, following the broadly positive cues from global markets overnight, with gains in exporters and financial stocks. Tokyo inflation figures also came in lower than estimated.

The benchmark Nikkei 225 Index closed the morning session at 27,898.37, up 399.50 points or 1.45 percent, after touching a high of 27,910.36 earlier. Japanese stocks closed slightly lower on Thursday.

Market heavyweight SoftBank Group is losing more than 1 percent, while Uniqlo operator Fast Retailing is gaining almost 3 percent. Among automakers, Honda is gaining more than 1 percent and Toyota is gaining almost 1 percent.

In the tech space, Advantest and Screen Holdings are edging up 0.4 to 0.5 percent each, while Tokyo Electron is edging down 0.2 percent. In the banking sector, Mizuho Financial is gaining almost 1 percent, while Sumitomo Mitsui Financial and Mitsubishi UFJ Financial are adding more than 1 percent each.

Among major exporters, Canon is edging up 0.2 percent each, while Sony and Mitsubishi Electric are advancing more than 1 percent each. Panasonic is edging down 0.1 percent. Among the other major gainers, OKUMA is surging almost 6 percent and Marubeni is gaining more than 4 percent, while Hoya, Daiichi Sankyo, Fujitsu and Kobe Steel are adding almost 4 percent each. Murata Manufacturing, Hitachi Zosen, Mitsui & Co. and Hitachi Construction are advancing more than 3 percent each, while Japan Exchange Group is up almost 3 percent.

Conversely, Otsuka Holdings is losing almost 6 percent.

In economic news, overall consumer prices in the Tokyo region of Japan were up 3.4 percent on year in February, the Ministry of Communications and Internal Affairs said on Friday. That was lower than expectations for an annual gain of 4.2 percent and was down from 4.4 percent in January. Core CPI, which excludes the volatile costs of food, was up 3.3 percent on year - in line with forecasts and down from 4.3 percent in the previous month.

The unemployment rate in Japan came in at a seasonally adjusted 2.4 percent in January, the Ministry of Internal Affairs and Communications said on Friday. That was beneath expectations for 2.5 percent, which would have been unchanged from the December reading. The jobs-to-applicant ratio was 1.35 - unchanged from the previous month but shy of forecasts for 1.36. The participation rate was 62.2 percent, missing forecasts for 62.3 percent, which would have been unchanged.

In the currency market, the U.S. dollar is trading in the higher 136 yen-range on Friday.

Elsewhere in Asia, Hong Kong, Singapore and Taiwan are higher by between 0.4 and 0.5 percent each, New Zealand, South Korea and Malaysia are lower by between 0.2 and 0.4 percent each. China and Indonesia are relatively flat.

On Wall Street, stocks indexes all moved notably higher over the course of the trading day on Thursday after moving in opposite directions early in the session.

The Dow outperformed its counterparts throughout the session and closed up 341.73 points or 1.1 percent at 33,003.57, adding to the slight uptick seen in Wednesday's session. The tech-heavy Nasdaq climbed 83.50 points or 0.7 percent to 11,462.98, while the S&P 500 advanced 29.96 points or 0.8 percent to 3,981.35.

The major European markets all also moved to the upside on the day. While the French CAC 40 Index advanced by 0.7 percent, the U.K.'s FTSE 100 Index rose by 0.4 percent and the German DAX Index edged up by 0.2 percent.

Crude oil prices climbed higher on Thursday, extending gains from the previous session as optimism about higher demand from China outweighed concerns about inflation and interest rate hikes. West Texas Intermediate crude oil futures for April settled at $78.16 a barrel, gaining $0.47 or 0.6 percent.

read more
Bank Of Korea Keeps Rates Steady

Bank Of Korea Keeps Rates Steady

The Bank of Korea maintained its interest rate on Thursday as rising house prices and household debt pose risks to the financial stability amid escalating trade tensions weighing on economic growth outlook. The Monetary Policy Board decided to leave the Base Rate unchanged at 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point each in May and February.
RTTNews | vor 1Std 31 Minuten
European Shares Set To Open Higher Despite Rising Trade Tensions

European Shares Set To Open Higher Despite Rising Trade Tensions

European stocks may open mostly higher on Thursday despite U.S. President Donald Trump escalating his tariff campaign, sending letters to six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | vor 2Std 27 Minuten
European Economic News Preview: Germany Final Inflation Data Due

European Economic News Preview: Germany Final Inflation Data Due

Final inflation from Germany and industrial output from Italy are the top economic news due on Thursday. At 2.00 am ET, Destatis is scheduled to release Germany's final inflation data for June. Flash inflation showed that consumer price inflation eased to 2.0 percent from 2.1 percent in May.
RTTNews | vor 2Std 47 Minuten
Sensex, Nifty Subdued On Trade Jitters

Sensex, Nifty Subdued On Trade Jitters

Indian shares were subdued on Thursday as U.S. President Donald Trump escalated his tariff campaign, sending letters targeting six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | vor 3Std 39 Minuten
Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian market is extending early gains in mid-market moves on Thursday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains across all sectors led by technology and mining stocks.
RTTNews | vor 4Std 37 Minuten
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders are optimistic about an end to the tariff uncertainty after US President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition.
RTTNews | vor 4Std 41 Minuten
Sensex, Nifty Set For Muted Open

Sensex, Nifty Set For Muted Open

Indian shares look set to open on a flat note Thursday as investors watch the latest developments on the trade front, react to the latest FOMC meeting minutes and look for direction from Q1 business updates from prominent companies.
RTTNews | vor 5Std 28 Minuten
Indonesia Stock Market May Extend Winning Streak

Indonesia Stock Market May Extend Winning Streak

The Indonesia stock market has moved higher in three straight sessions, gathering almost 80 points or 1.2 percent along the way. The Jakarta Composite Index now sits just above the 6,940-point plateau and it may add to its winnings again on Thursday.
RTTNews | vor 6Std 28 Minuten