Asian Shares Rise On China Growth Optimism

RTTNews | hace 952

(RTTNews) - Asian stocks rose broadly on Thursday after major U.S. indexes closed higher for the second consecutive day overnight.

Sentiment was further underpinned after China said it would implement policies to support growth in 2023.

"Making good efforts will help stabilize growth next year. We should seize the time window and pay close attention to the implementation of policies," state media quoted the cabinet as saying after a regular meeting.

China's Shanghai Composite index closed 0.46 percent lower at 3,054.43, giving up early gains. Hong Kong's Hang Seng index rallied 2.71 percent to 19,679.22, led by property developers and technology stocks.

Japanese shares eked out modest gains as bond yields calmed down and the yen showed signs of stabilizing following its biggest jump in 24 years.

The Nikkei average rose 0.46 percent to 26,507.87 while the broader Topix index ended 0.78 percent higher at 1,908.17. Automakers Honda, Toyota and Nissan all climbed around 2 percent.

Toshiba surged 4.3 percent after reports that its preferred bidder, Japan Industrial Partners (JIP), is set to seal a $10.6 billion loan this week.

Seoul stocks rallied despite concerns over a looming global recession. The Kospi average jumped 1.19 percent to settle at 2,356.73, snapping a five-day losing streak. LG Chem, Hyundai Motor, SK Hynix and Samsung Electronics gained 1-2 percent.

Australian stocks advanced, led by gains in financial and technology stocks. The benchmark S&P/ASX 200 gained 0.53 percent to close at 7,152.50 while the broader All Ordinaries index ended 0.58 percent higher at 7,335.20.

Kogan.com jumped 2.5 percent after it agreed to buy online furniture retailer Brosa out of administration in a low-cost move.

Readytech Holdings plunged almost 11 percent as private equity group Pacific Equity Partners pulled out of a proposed $514 million takeover of the software company.

Across the Tasman, New Zealand's benchmark S&P/NZX 50 ended 0.63 percent higher at 11,523.96 - marking its best session since Dec. 13.

U.S. stocks rose for a second straight session overnight on the back of upbeat consumer confidence data and solid earnings from corporate giants Nike and FedEx.

The Dow surged 1.6 percent, while the S&P 500 and the Nasdaq Composite climbed around 1.5 percent each.

Swiss Market Ends Moderately Lower

Despite a decent spell in positive territory till about an hour before noon, the Switzerland market turned weak and kept drifting lower as the session progressed on Thursday to eventually settle with a moderate loss.

RTTNews | hace 23 minutos

European Stocks Close Mostly Weak As Investors React To Earnings

European markets closed mostly lower on Thursday as investors reacted to a slew of earnings announcements and digested the latest batch of economic data from the region, and also followed the developments on the trade front.

RTTNews | hace 53 minutos

U.S. Consumer Price Growth Matches Estimates In June

A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in June after inching up by an upwardly revised 0.2 percent in May.

RTTNews | hace 3h 41min

German Unemployment Rises In July

Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday. The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.

RTTNews | hace 4h 24min

U.S. Jobless Claims Inch Up Less Than Expected To 218,000

First-time claims for U.S. unemployment benefits edged slightly higher in the week ended July 26th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims crept up to 218,000, an increase of 1,000 from the previous week's unrevised level of 217,000. Economists had expected jobless claims to rise to 224,000.

RTTNews | hace 4h 32min