Asian Shares Mixed After China Inflation Data

RTTNews | vor 781 Tagen
Asian Shares Mixed After China Inflation Data

(RTTNews) - Asian stocks ended Monday's session on a mixed note after data showed China's economy teetered on the brink of deflation in June, adding to the case for policymakers to launch more stimulus to boost growth.

The dollar gained in European trade, keeping gold and oil prices under pressure.

Chinese shares edged up slightly amid hopes for more stimulus measures and as U.S. Treasury Secretary Janet Yellen gave a positive assessment of bilateral ties between the U.S. and China.

The benchmark Shanghai Composite index inched up 0.22 percent to 3,203.70 while Hong Kong's Hang Seng index ended 0.62 percent higher at 18,479.72.

Chinese consumer price inflation remained flat in June while producer prices fell the most since December 2015, reflecting weak domestic demand - data from the National Bureau of Statistics showed earlier in the day.

Japanese stocks fell notably to extend losses for a fifth consecutive session as a stronger yen weighed on automakers. The Nikkei average dropped 0.61 percent to 32,189.73 while the broader Topix index ended 0.51 percent lower at 2,243.33.

Honda Motor, Toyota and Nissan ended down between 1.7 percent and 2.6 percent. Chip-related shares also lost ground, with Advantest, Tokyo Electron and Screen Holdings falling around 2 percent.

Seoul stocks closed lower amid signs that China's economy is slowing and the U.S. Federal Reserve may hike rates later this month. The Kospi average slipped 0.24 percent to 2,520.70.

Australian markets gave up early gains to end lower as investors awaited U.S. inflation data due later in the week for cues on future monetary policy.

The benchmark S&P/ASX 200 index fell 38.30 points, or 0.54 percent, to 7,004.0, marking its lowest level since March 28. The broader All Ordinaries index closed 0.51 percent lower at 7,206.90.

Weak iron ore prices weighed on mining stocks, with heavyweights BHP and Rio Tinto both falling over 1 percent. Gold miners climbed, with Newcrest Mining, Northern Star and Regis Resources rallying 1-3 percent.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index dropped 0.56 percent to 11,912.73.

U.S. stocks declined on Friday to end lower for the week, as a mixed jobs report showing slower job growth for June but persistently strong wage growth and a slight drop in the unemployment rate heightened fears that the Fed may resume rate hikes later this month.

The Dow shed 0.6 percent, the S&P 500 edged down 0.3 percent and the tech-heavy Nasdaq Composite slid 0.1 percent.

read more
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | vor 33 Minuten
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | vor 1Std 16 Minuten
German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1
RTTNews | vor 1Std 46 Minuten
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
RTTNews | vor 3Std 0 Minuten