Asian Shares Rise Ahead Of Powel's Jackson Hole Speech

RTTNews | hace 1104

(RTTNews) - Asian stocks advanced on Thursday as investors looked forward to Fed Chair Jerome Powell's speech on Friday at the central banking conference in Jackson Hole for further cues on the monetary policy outlook.

Powell is widely expected to reiterate the central bank's hawkish stance, given the expectations that inflation in the U.S. will be persistent and it will take time to contain it.

Chinese shares rose sharply as the country's energy administration pledged to alleviate electricity shortages in Sichuan and Chongqing, and China's state cabinet added Rmb300bn ($44bn) in credit support by its policy banks.

The benchmark Shanghai Composite index climbed 0.97 percent to 3,246.25 ahead of interim earnings from oil refiners CNOOC, PetroChina Co and China Petroleum & Chemical Corp.

Hong Kong's technology-heavy Hang Seng index jumped 3.63 percent to 19,968.38 as trading resumed in the afternoon after a halt due to extreme weather conditions stemming from typhoon Ma-on.

Japanese shares ended higher to snap a five-day losing streak. The Nikkei average rose 0.58 percent to 28,479.01, with drug makers and tech stocks pacing the gainers. The broader Topix index closed 0.48 percent higher at 1,976.60.

Daiichi Sankyo topped the gainers list to close 4.6 percent higher. Mitsubishi Corp added 1.6 percent after the trading house said it would apply for a stake in the new Russian entity that took over the Sakhalin-2 liquefied natural gas project.

Seoul stocks rallied as the Bank of Korea opted for a smaller 25 bps rate hike after delivering a record half percentage points increase last month. The Kospi average jumped 1.22 percent to 2,477.26, extending gains for a second straight session led by tech and bio stocks.

Australian markets rose notably, with mining and energy stocks leading the surge. The benchmark S&P/ASX200 index gained 0.71 percent to finish at 7,048.10, while the broader All Ordinaries index rose 0.68 percent to 7,291.90.

Uranium stocks outperformed on reports that Japan is looking at developing next-generation nuclear reactors to stabilize energy supply. Paladin Energy soared 11.6 percent and Deep Yellow climbed 18.3 percent. Media firm Nine Entertainment rallied 9 percent on share buyback-news.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index slipped 0.24 percent to 11,627.14 after the release of weak retail sales data.

U.S. stocks eked out modest gains overnight to snap a three-day losing streak, as a measure of pending home sales fell less than expected in July and new orders for U.S. manufactured durable goods came in unchanged.

The Dow edged up 0.2 percent, the S&P 500 gained 0.3 percent and the tech-heavy Nasdaq Composite index added 0.4 percent.

Japan Stock Market May Hand Back Tuesday's Gains

The Japanese stock market on Tuesday ended the two-day losing streak in which it had dropped almost 650 points or 1.4 percent. The Nikkei 225 now sits just above the 42,310-point plateau although it may see renewed consolidation on Wednesday.

RTTNews | hace 20 minutos

South Korea Shares May Head South Again On Wednesday

The South Korea stock market on Tuesday ended the two-day slide in which it had given up mor than 50 points or 1.6 percent. The KOSPI now rests just above the 3,170-point plateau although it's expected to turn lower again on Wednesday.

RTTNews | hace 37 minutos

Australia GDP Data Due On Wednesday

Australia will on Wednesday release Q2 figures for gross domestic product, highlighting a modest day for Asia-Pacific economic activity. GP is expected to rise 0.5 percent on quarter and 1.6 percent on year, up from 0.2 percent on quarter and 1.3 percent on year in the three months prior.

RTTNews | hace 1h 37min

U.S. Dollar Climbs Amid Rising Treasury Yields

The U.S. dollar strengthened against its major counterparts in the New York session on Tuesday, as investors awaited upcoming nonfarm payrolls data.

RTTNews | hace 2h 2min

Swiss Shares Extend Losing Streak

The Swiss stock market closed under pressure again on Tuesday, stretching its losing streak to three sessions while giving up more than 130 points or 1.1 percent in that span.

RTTNews | hace 6h 48min

Eurozone Inflation Path Suggests ECB Unlikely To Cut Rates Further

Euro area inflation modestly accelerated to a four-month high, and the core figure was steady around the 2 percent target in August as a slight slowing in both food price growth and services inflation was offset by a smaller decline in energy prices, which suggests that the European Central Bank is set to hold interest rates steady in future policy sessions.

RTTNews | hace 6h 54min

European Markets Finish In The Red On Tuesday

The major European markets finished firmly under water on Tuesday after Eurostat data showed Eurozone inflation rose to 2.1 percent last month, climbing above the European Central Bank's 2 percent target for the first time since April driven by higher prices for food, alcohol and tobacco.

RTTNews | hace 7h 1min

U.S. Construction Spending Unexpectedly Edges Lower In July

A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.

RTTNews | hace 9h 2min

EURUSD	1.16338	GBPUSD	1.33854	AUDUSD	0.65188
USDJPY	148.538	USDCAD	1.37841	USDCHF	0.80503