Asian Stocks Plunge Amidst Covid Protests In China

RTTNews | hace 987

(RTTNews) - Asian stocks plunged on Monday amidst a flare-up in protests against China's strict Covid curbs. The surging Covid caseload and the widespread protests in China dampened investor sentiment in most of the Asian markets. The sentiment also impacted commodity, bond and currency markets as well as global stock indexes.

China's Shanghai Composite Index dropped 23 points or 0.75 percent to finish at 3,078.55. The day's trading ranged between 3,034.70 and 3,080.18. The Shenzhen Component Index shed 75 points or 0.7 percent to close at 10,829.08.

The Japanese benchmark Nikkei 225 erased 120 points or 0.42 percent to end trading at 28,162.83. The day's trading range was between 28,046.32 and 28,238.50.

Shinsei Bank was the biggest gainer with a 2.2 percent uptick. Internet media company CyberAgent which is providing free streaming of football World Cup matches dropped more than 7 percent after Japan lost a world cup match. JFE Holdings and Kobe Steel have both declined more than 3 percent.

The Hang Seng Index of the Hong Kong Stock Exchange lost 276 points or 1.6 percent from the previous close to finish trading at 17,297.94. The day's trading range was between a high of 17,364.21 and a low of 16,833.68.

Korean Stock Exchange's Kospi Index lost 30 points or 1.2 percent to close trading at 2,408.27. The day's trading range was between 2,401.95 and 2,425.65.

Australia's S&P/ASX200 closed trading at 7,229.10 after shedding 30 points or 0.42 percent. The day's trading was between 7,216.00 and 7,259.50.

Mining business New Hope Corporation was the top gainer with a 5.4 percent overnight rally. Whitehaven Coal, another mining business, also added close to 4 percent. Building materials company Brickworks gained more than 3 percent.

Healthcare business Healius dropped more than 10 percent after its latest trading update revealed a drop in revenues. Weak commodity prices dragged down mining stocks. Mining business Liontown Resources declined 7.5 percent whereas gold miner Ramelius Resources and battery materials company Novonix, both dropped more than 6 percent.

The NZX 50 of the New Zealand Stock Exchange shed 74 points or 0.65 percent to close at 11,308.31. Trading ranged between 11,280.74 and 11,382.56.

Despite the negative trend, stocks of retirement village companies rose following reports of govt funding. Oceania Healthcare is the top gainer with a 6.4 percent overnight rally. Arvida Group added 4.4 percent. Summerset Group Holdings gained 2.8 percent.

Electronic components maker EROAD also gained 3.4 percent.

Weak commodity prices dragged down energy stocks. Mercury NZ and Genesis Energy, both declined more than 4 percent. Software business Vista Group International also declined close to 4 percent.

The Wall Street had closed Friday's shortened session on a mixed note. Nasdaq Composite shed 0.52 percent to close at 11,226.36 whereas the Dow Jones Industrial Average gained 0.45 percent to finish trading at 34,347.03.

Renewed Consolidation Likely For Hong Kong Stock Market

The Hong Kong stock market moved higher again on Monday, one session after snapping the four-day winning streak in which it had rallied more than 570 points or 2.4 percent. The Hang Seng Index now rests just above the 24,900-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | hace 11 minutos

Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Tuesday after opening in the red, extending the gains in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level to fresh all-time high, with gains in financial and energy stocks and a mixed performance in mining and technology stocks.

RTTNews | hace 18 minutos

China Stock Market May Hand Back Monday's Gains

The China stock market bounced higher again on Monday, one session after halting the four-day winning streak in which it had gathered almost 80 points or 2.4 percent. The Shanghai Composite Index now sits just beneath the 3,650-point plateau although it's likely to head south again on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | hace 26 minutos

Taiwan Shares May Run Out Of Steam On Tuesday

The Taiwan stock market has moved higher in three straight sessions, rallying more than 685 points or 2.9 percent along the way. The Taiwan Stock Exchange now sits just above the 24,135-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | hace 56 minutos

Singapore Q2 GDP Climbs 4.4% On Year

Singapore's gross domestic product expanded 4.4 percent on year in the second quarter of 2025, the Ministry of Trade and Industry said on Tuesday - beating forecasts for 4.3 percent, which would have been unchanged.

RTTNews | hace 1h 3min

Singapore Bourse May Give Up Support At 4,200 Points

The Singapore stock market has finished lower in two straight sessions, slipping more than 25 points or 0.6 percent along the way. The Straits Times Index now sits just above the 4,230-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | hace 1h 26min

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in five straight sessions, collecting more than 35 points or 2.4 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,560-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | hace 1h 56min

Win Streak May End For Japan Stock Market

Ahead of Monday's holiday for Mountain Day, the Japan stock market had moved higher in four consecutive sessions, advancing more than 1,580 points or 3.8 percent along the way. The Nikkei 225 now sits just above the 41,820-point plateau although investors are likely to lock in gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red. The Nikkei finished sharply higher on Friday with gains cross the board, especially among the finance, automobile and technology sectors. For the day, the index surged 761.38 points or 1.85 percent to finish at 41,820.48 after trading between 41,248.05 and 42,033.92. Among the actives, Nissan Motor accelerated 2.75 percent, while Mazda Motor spiked 4.91 percent, Toyota Motor jumped 3.47 percent, Honda Motor rallied 3.95 percent, Softbank Group skyrocketed 10.39 percent, Mitsubishi UFJ Financial collected 0.64 percent, Mizuho Financial advanced 1.02 percent, Sumitomo Mitsui Financial added 0.71 percent, Mitsubishi Electric fell 0.28 percent, Sony Group soared 3.50 percent, Panasonic Holdings climbed 1.16 percent and Hitachi rose 0.50 percent. The lead from Wall Street is negative as the major averages opened mixed on Monday, rallied midday but then slumped in the afternoon and finished under water.

RTTNews | hace 2h 11min

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