Asian Shares Rise Despite US Bank Woes

RTTNews | vor 837 Tagen

(RTTNews) - Asian stocks ended Thursday's session mostly higher, as a string of strong tech earnings offset lingering concerns about the U.S. banking sector.

After Google parent Alphabet and Microsoft, Meta has managed to reverse a downward spiral for the first quarter of 2023.

The dollar extended declines, helping gold prices scale above $2,000 per ounce ahead of the release of U.S. first quarter economic growth data later in the day.

Oil prices rose in Asian trading, after having dropped by almost 4 percent to reach a one-month low in the previous session despite data showing a significant fall in U.S. crude inventories.

Chinese shares rose notably after recent string of losses despite better-than-expected economic data. The benchmark Shanghai Composite climbed 0.67 percent to 3,285.88.

Hong Kong's Hang Seng index edged up 0.42 percent to 19,840.29, rebounding from a four-week low ahead of key earnings reports.

Japanese shares recovered from an early slide to close slightly higher as investors braced for Governor Kazuo Ueda's first policy meeting.

The Nikkei average rose 0.15 percent to 28,457.68 while the broader Topix index settled 0.43 percent higher at 2,032.51. Automakers Honda Motor, Nissan and Toyota Motor rose over 1 percent each while Advantest lost 9.2 percent after projecting a profit drop.

Seoul stocks snapped a five-day losing run as investors reacted to upbeat tech business results from the U.S. The Kospi average inched up 0.44 percent to 2,495.81 led by large-cap tech shares.

Market bellwether Samsung Electronics rose 0.8 percent after it flagged a gradual recovery for semiconductors in the second half of this year. Top chipmaker SK Hynix advanced 1.6 percent.

Australian markets ended lower for a fifth straight session as concerns about U.S. banks weighed on shares of local lenders. Mining stocks rebounded from recent losses, helping limit the downside in the broader market.

The benchmark S&P/ASX 200 dropped 0.32 percent to 7,292.70 while the broader All Ordinaries index ended 0.27 percent lower at 7,482.20.

Syrah Resources plunged 9.5 percent after the company said it expects $539 million in total installed capital cost to expand a Louisiana-based facility that produces graphite-based active anode material.

Vitamin maker Blackmores jumped 22.8 percent on receiving a A$1.88 billion ($1.24 billion) offer from Japan's Kirin Holdings.

Across the Tasman, New Zealand's benchmark S&P/NZX 50 index slipped 0.14 percent to end at 11,918.22.

U.S. stocks ended mixed overnight while the dollar dipped, as investors weighed upbeat tech earnings against ongoing turmoil in the regional banking sector and congressional wrangling over raising the federal debt ceiling.

New data showed that orders for core capital goods fell more than expected in March, adding to recession worries.

The tech-heavy Nasdaq Composite bounced off its lowest closing level in almost a month to close half a percent higher, while the Dow dropped 0.7 percent and the S&P 500 shed 0.4 percent.

Win Streak May End For Japan Stock Market

Ahead of Monday's holiday for Mountain Day, the Japan stock market had moved higher in four consecutive sessions, advancing more than 1,580 points or 3.8 percent along the way. The Nikkei 225 now sits just above the 41,820-point plateau although investors are likely to lock in gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red. The Nikkei finished sharply higher on Friday with gains cross the board, especially among the finance, automobile and technology sectors. For the day, the index surged 761.38 points or 1.85 percent to finish at 41,820.48 after trading between 41,248.05 and 42,033.92. Among the actives, Nissan Motor accelerated 2.75 percent, while Mazda Motor spiked 4.91 percent, Toyota Motor jumped 3.47 percent, Honda Motor rallied 3.95 percent, Softbank Group skyrocketed 10.39 percent, Mitsubishi UFJ Financial collected 0.64 percent, Mizuho Financial advanced 1.02 percent, Sumitomo Mitsui Financial added 0.71 percent, Mitsubishi Electric fell 0.28 percent, Sony Group soared 3.50 percent, Panasonic Holdings climbed 1.16 percent and Hitachi rose 0.50 percent. The lead from Wall Street is negative as the major averages opened mixed on Monday, rallied midday but then slumped in the afternoon and finished under water.

RTTNews | vor 13 Minuten

Continued Consolidation Called For South Korea Shares

The South Korea stock market has finished lower in back-to-back sessions, sinking more than 20 points or 0.6 percent along the way. The KOSPI now sits just above the 3,200-point plateau and it may take further damage again on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | vor 28 Minuten

Australia Interest Rate Decision On Tap For Tuesday

The Reserve Bank of Australia will wrap up its monetary policy meeting this morning and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The RBA is expected lower its benchmark lending rate by 25 basis points, to 3.60 percent from 3.85 percent.

RTTNews | vor 1Std 28 Minuten

U.S. Dollar Firms Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | vor 2Std 51 Minuten

Swiss Market Fails To Hold Early Gains, Ends Just Slightly Up

Despite opening on a firm note, the Switzerland market paring gains and even slipped into negative territory in late afternoon trades on Monday, but managed to end the day's session slightly up.

RTTNews | vor 5Std 43 Minuten

European Stocks Close On Mixed Note After Cautious Session

European stocks turned in a mixed performance on Monday after a cautious session as investors looked ahead to upcoming talks between the U.S. and Russia on the Ukraine war issue, and the ongoing tariff negotiations between the U.S. and China, as well as some crucial economic data, including a report on consumer price inflation in the world's largest economy.

RTTNews | vor 6Std 8 Minuten

Rate Cut Hopes Drag The Dollar Down

The U.S. dollar declined against major currencies during the week ended August 8 amidst weak economic data that renewed hopes of a larger-than expected and higher-than-expected monetary policy easing by the Federal Reserve.

RTTNews | vor 8Std 48 Minuten

Bay Street Likely To Open Slightly Higher, But Weak Metal Prices Could Weigh

Canadian stocks may open with a slightly positive bias on Monday with investors looking ahead to the crucial U.S. inflation data due this week. The focus is also Trump administration's trade negotiations with China, and on the upcoming talks between the U.S. and Russia, aimed at bringing an end to the war in Ukraine.

RTTNews | vor 11Std 0 Minuten

EURUSD	1.16163	GBPUSD	1.34335	AUDUSD	0.6515
USDJPY	148.17	USDCAD	1.37745	USDCHF	0.81207