Asian Stocks Mixed Despite China's Positive GDP Surprise

RTTNews | vor 860 Tagen

(RTTNews) - Asian markets moved mixed on Tuesday despite China's GDP data surprising with a more than expected growth in the first quarter. The Chinese economy grew 4.5 percent in the first quarter versus 2.9 percent in the previous period and expectations of a growth of 4 percent. Anxieties about global growth and monetary tightening dampened sentiment.

China's Shanghai Composite Index rose 0.23 percent to 3,393.33. The day's trading ranged between 3,375.78 and 3,396.17. The Shenzhen Component Index gained 5 points or 0.04 percent to close at 11,860.40.

The Japanese benchmark Nikkei 225 gained 144 points or 0.51 percent to end trading at 28,658.83. The day's trading range was between 28,520.76 and 28,698.22.

Chiba Bank topped with gains of 3.4 percent. Terumo Corp, Nissui Corp, Takashimaya Co and Trend Micro, all gained more than 2 percent.

Advantest Corp was the biggest laggard with an overnight decline of more than 3 percent. Tokyo Electron, Impex Corp, Dainippon Screen Mfg Co, all declined more than 2 percent.

The Hang Seng Index of the Hong Kong Stock Exchange dropped 132 points or 0.63 percent from the previous close to finish trading at 20,650.51. The day's trading range was between a high of 20,742.39 and a low of 20,559.08.

Korean Stock Exchange's Kospi Index lost 5 points or 0.19 percent to close trading at 2,571.09. The day's trading range was between 2,557.19 and 2,582.23.

Australia's S&P/ASX200 closed trading at 7,360.20 after dropping 21 points or 0.29 percent.

Telix Pharmaceuticals surged 12.7 percent after reporting strong revenue growth. Core Lithium rallied 6.5 percent after it reported a significant increase in the mineral resource estimate for the Finniss lithium operation. Pilbara Minerals gained 4.2 percent. Allkem also added close to 4 percent. A2 Milk Company gained 2.8 percent.

Lithium producers Sayona Mining and Lake Resources both dropped more than 9 percent. Lendlease Group, Capricorn Metals and Domain Holdings Australia, all declined more than 2 percent.

The NZX 50 of the New Zealand Stock Exchange shed 52 points or 0.44 percent to close at 11,884.10. Trading ranged between 11,868.41 and 11,936.15.

A2 Milk Company topped with gains of 3.2 percent, followed by software business Vista Group International that rallied 2.3 percent. Banking business Heartland Group Holdings, software business Serko and Tourism Holdings, all gained more than 1 percent.

Agribusiness Scales Corporation, software business EROAD and Restaurant Brands NZ declined more than 3 percent. Vector and Summerset Group Holdings declined more than 2 percent. Wall Street had closed on a positive note on Monday amidst upbeat earnings updates. The Nasdaq Composite gained 0.28 percent to close at 12,157.72 whereas the Dow Jones Industrial Average added 0.30 percent to finish trading at 33,987.18.

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red 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 | vor 43 Minuten

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | vor 1Std 11 Minuten

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start 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 | vor 1Std 13 Minuten

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure 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 | vor 1Std 28 Minuten

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | vor 1Std 31 Minuten

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | vor 1Std 43 Minuten

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected 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. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | vor 2Std 13 Minuten

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 | vor 2Std 43 Minuten

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