Soft Start Anticipated For China Stock Market

RTTNews | vor 1056 Tagen
Soft Start Anticipated For China Stock Market

(RTTNews) - The China stock market on Monday ended the two-day slide in which it had dropped more than 55 points or 1.7 percent. The Shanghai Composite Index now sits just beneath the 3,280-point plateau although it's likely to see renewed selling pressure on Tuesday.

The global forecast for the Asian markets is mixed to lower, with profit taking expected amid concerns over the outlook for interest rates. The European markets were up and the U.S. bourses were down, and the Asian markets are tipped to trend generally lower as well.

The SCI finished sharply higher on Monday following gains from the financial shares, property stocks and resource and energy companies.

For the day, the index jumped 50.04 points or 1.55 percent to finish at 3,278.10 after trading between 3,226.23 and 3,278.47. The Shenzhen Composite Index climbed 31.96 points or 1.48 percent to end at 2,191.96.

Among the actives, Industrial and Commercial Bank of China advanced 0.92 percent, while Bank of China and Bank of Communications both collected 0.67 percent, China Construction Bank strengthened 1.46 percent, China Merchants Bank rallied 2.18 percent, China Life Insurance spiked 2.89 percent, Jiangxi Copper accelerated 4.25 percent, Aluminum Corp of China (Chalco) surged 5.71 percent, Yankuang Energy soared 5.38 percent, PetroChina improved 2.79 percent, China Petroleum and Chemical (Sinopec) jumped 1.99 percent, Huaneng Power climbed 4.56 percent, China Shenhua Energy advanced 2.62 percent, Gemdale skyrocketed 5.02 percent, Poly Developments perked 4.50 percent, China Vanke increased 1.59 percent, China Fortune Land gathered 3.86 percent and Beijing Capital Development gained 0.92 percent.

The lead from Wall Street ends up negative as the major averages couldn't hold on to early gains, sinking as the day progressed to close firmly in the red.

The Dow tumbled 215.65 points or 0.69 percent to finish at 31,072.61, while the NASDAQ sank 92.37 points or 0.81 percent to end at 11,360.05 and the S&P 500 lost 32.31 points or 0.84 percent to close at 3,830.85.

The early strength on Wall Street came as traders continued to pick up stocks at reduced levels, while positive sentiment was also generated in reaction to upbeat earnings news from Goldman Sachs (GS) and others.

Buying interest waned over the course of the session, however, as traders continued to worry about the economic outlook ahead of next week's Federal Reserve meeting.

In U.S. economic news, the National Association of Home Builders released a report showing a substantial deterioration in U.S. homebuilder confidence in the month of July.

Crude oil prices rose sharply Monday with traders assessing crude supply levels amid concerns over gas supply from Russia. A weak dollar also contributed significantly to the jump in oil prices. West Texas Intermediate crude oil futures for August ended higher by $5.01 or 5.1 percent at $102.60 a barrel.

read more
Canadian Market Up Marginally In Cautious Trade

Canadian Market Up Marginally In Cautious Trade

After a flat start and a subsequent drop to lower levels, the Canadian market emerged into positive territory about an hour past noon on Monday, but remains somewhat subdued with investors seeming reluctant to make significant moves. The mood is cautious as investors await U.S. - China trade talks in London.
RTTNews | vor 2Std 12 Minuten
European Stocks Close Weak After Cautious Session

European Stocks Close Weak After Cautious Session

European markets settled lower on Monday after a subdued performance as investors awaited the outcome of U.S.-China high-level trade talks in London. Also, a lack of regional economic data and earnings news contributed to the cautious mood in the markets.
RTTNews | vor 2Std 40 Minuten
FDA, CDC Probe Salmonella Outbreak As Around 1.70 Mln Dozen Brown Eggs Recalled

FDA, CDC Probe Salmonella Outbreak As Around 1.70 Mln Dozen Brown Eggs Recalled

The U.S. Food and Drug Administration and the Centers for Disease Control and Prevention or CDC are investigating a Salmonella Enteritidis outbreak linked to brown eggs that sickened nearly 79 across 7 states. Associated with the ongoing probe, August Egg Co. recalled around 1.70 million dozen brown cage-free and brown certified organic eggs sold through Walmart and other retail locations.
RTTNews | vor 6Std 26 Minuten
Bay Street May Open Slightly Higher

Bay Street May Open Slightly Higher

Canadian shares may open slightly higher on Monday amid optimism about some positive progress in U.S.-China trade talks. Energy stocks are likely to find some support on higher crude oil prices.. The U.S.-China discussions will aim to resolve some major trade disputes between the two major economies.
RTTNews | vor 8Std 18 Minuten
FTSE 100 Down Marginally At Noon

FTSE 100 Down Marginally At Noon

The U.K. market is down marginally at noon on Monday with investors mostly making cautious moves amid a lack of triggers. The focus is on trade talks between the U.S. and Chinese officials in London. Weak Chinese exports data weighs on sentiment.
RTTNews | vor 9Std 30 Minuten
CAC 40 Down Slightly In Lackluster Trade

CAC 40 Down Slightly In Lackluster Trade

French stocks are down slightly in lackluster trade on Monday with investors refraining from making significant moves as they await the high-level trade talks between U.S. and Chinese officials in London later in the day.
RTTNews | vor 9Std 51 Minuten
DAX Down Over 0.5% In Cautious Trade

DAX Down Over 0.5% In Cautious Trade

German stocks are down in negative territory on Monday as investors make cautious moves while awaiting crucial talks between U.S. and Chinese officials in London later in the day. The discussions will aim to resolve some major trade disputes between the two major economies. Treasury Secretary Scott Bessent leads the U.S. delegation in the high-level trade talks.
RTTNews | vor 10Std 12 Minuten