Asian Shares Mostly Higher; China, Hong Kong Stocks Fall On Deflationary Woes

RTTNews | hace 168

(RTTNews) - Asian stocks ended mostly higher on Monday despite lingering tariff worries, the threat of a U.S. recession and signs of deepening deflationary pressures in China.

The dollar began the week on a sluggish note after falling more than 3 percent last week against major rivals on concerns about tariffs and its impact on the economy.

U.S. President Donald Trump in a Fox News interview on Sunday declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.

"There is a period of transition, because what we're doing is very big. We're bringing wealth back to America," Trump told the "Sunday Morning Futures" program.

Gold edged up slightly after modest gains last week. Oil prices declined as lackluster inflation data from the leading importer, China, coupled with uncertainty surrounding the effects of U.S. trade tariffs left traders anxious about decreasing demand.

China's Shanghai Composite index fell 0.19 percent to 3,366.16 after an announcement of fresh targeted levies on Canadian goods over the weekend.

Additionally, data showed consumer prices in China have plunged to their lowest level in more than a year, highlighting persistent deflationary pressures in the world's second-largest economy.

Hong Kong's Hang Seng index tumbled 1.85 percent to 23,783.49, with property developers falling on concerns about China's economic recovery.

Japanese markets ended mixed after a choppy session. The Nikkei average rose 0.38 percent to 37,028.27 while the broader Topix index slipped 0.29 percent to 2,700.76.

Semiconductor-related shares advanced, with Advantest surging 3.7 percent and Tokyo Electron rising 1.7 percent. Technology investor SoftBank added 1.4 percent.

Seoul stocks closed higher, reversing losses from the previous session. The Kospi average rose 0.27 percent to 2,570.39 led by auto and finance stocks.

Australian markets eked out modest gains, with mining and gold stocks pacing the gainers. The benchmark S&P/ASX 200 edged up by 0.18 percent to 7,962.30 while the broader All Ordinaries index settled 0.16 percent higher at 8,191.70.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index jumped 0.94 percent to 12,515.97.

Shares of Fonterra Co-operative Group rallied 3.6 percent after the dairy giant lifted its FY25 earnings guidance, reflecting positive contributions from its consumer channel.

U.S. stocks closed higher on Friday but posted steep losses for the week on tariff-related concerns and fears the U.S. economy is heading toward a recession.

The tech-heavy Nasdaq Composite climbed 0.7 percent, the S&P 500 gained 0.6 percent and the narrower Dow added half a percent after Fed Chair Jerome Powell said that the U.S. labor market remains solid, and inflation is headed toward the Fed's goal of 2 percent per year.

Echoing concerns about President Trump's policies, Powell said the Fed is in no hurry to adjust rates and remains "focused on separating the signal from the noise."

Meanwhile, data showed non-farm payroll employment climbed by 151,000 jobs in February after rising by a downwardly revised 125,000 jobs in January. The unemployment rate edged up to 4.1 percent.

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely 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.

RTTNews | hace 38 minutos

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral 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. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | hace 53 minutos

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation 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 | hace 1h 8min