Rally May Stall For China Stock Market

RTTNews | hace 1105
Rally May Stall For China Stock Market

(RTTNews) - The China stock market has moved higher in three straight sessions, gathering almost 75 points or 2.3 percent along the way. The Shanghai Composite Index now rests just above the 3,235-point plateau although it's looking at a slightly soft start on Tuesday.

The global forecast for the Asian markets is flat to slightly higher, with easing recession fears offset by interest rate concerns. The European markets were slightly higher and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

The SCI finished modestly higher on Monday following gains from the resource and energy companies, weakness from the financials and a mixed picture from the property sector.

For the day, the index picked up 9.91 points or 0.31 percent to finish at 3,236.93 after trading between 3,214.08 and 3,237.97. The Shenzhen Composite Index advanced 17.21 points or 0.79 percent to close at 2,183.22.

Among the actives, Industrial and Commercial Bank of China dropped 0.91 percent, while Bank of China fell 0.33 percent, China Construction Bank shed 0.36 percent, China Merchants Bank skidded 1.14 percent, Bank of Communications lost 0.43 percent, China Life Insurance retreated 1.27 percent, Jiangxi Copper advanced 0.77 percent, Aluminum Corp of China (Chalco) rose 0.22 percent, Yankuang Energy skyrocketed 7.73 percent, PetroChina perked 0.20 percent, China Petroleum and Chemical (Sinopec) added 0.49 percent, Huaneng Power rallied 2.16 percent, China Shenhua Energy spiked 2.20 percent, Gemdale stumbled 1.44 percent, Poly Developments slumped 1.63 percent, China Vanke sank 1.15 percent, China Fortune Land surged 2.83 percent and Beijing Capital Development improved 1.39 percent.

The lead from Wall Street offers little guidance as the major averages were unable to hold solid early gains, eventually hugging the line and finishing mixed.

The Dow rose 29.07 points or 0.09 percent to finish at 32,832.54, while the NASDAQ dipped 13.10 points or 0.10 percent to end at 12,644.46 and the S&P 500 eased 5.13 points or 0.12 percent to close at 4,140.06.

The early strength on Wall Street extended a recent upward trend; easing concerns about a potential recession may have contributed to the continued upward move following last week's much stronger than expected jobs data.

Buying interest waned over the course of the session, however, as the strong jobs data has increased the likelihood of another 75-basis point interest rate hike by the Federal Reserve next month.

Traders may also have been reluctant to make significant bets ahead of the release of closely watched U.S. inflation data later this week.

Crude oil prices recovered after early losses and settled sharply higher on Monday as data showed a significant increase in oil purchases by China so far this month. West Texas Intermediate Crude oil futures for September ended higher by $1.75 or 2 percent at $90.76 a barrel.

read more
Indian Rupee Rises To 2-week High On GST Reforms Push

Indian Rupee Rises To 2-week High On GST Reforms Push

The Indian rupee strengthened against the U.S. dollar in the European session on Monday, after Prime Minister Narendra Modi unveiled plans of the biggest tax overhaul since 2017 over the weekend, boosting stocks across sectors like auto, financial, real estate, consumer and cement.
RTTNews | hace 38 minutos
Canadian Market May Open Slightly Weak

Canadian Market May Open Slightly Weak

Lower Canadian and U.S. futures and weak European markets point to a slightly negative start on Bay Street Monday morning. Firm commodity prices might help limit market's downside. The focus will be on the meeting between U.S. President Donald Trump and several European leaders, including Ukrainian President Volodymyr Zelenskiy later in the day.
RTTNews | hace 1h 14min
FTSE 100 Slips After Positive Start, Down Marginally

FTSE 100 Slips After Positive Start, Down Marginally

After a modest upmove in early trades, the U.K. market retreated on Monday with investors turning cautious, focusing on the upcoming meeting between U.S. President Donald Trump and several European leaders, after the Trump-Putin summit failed to result in any breakthrough to end the war in Ukraine.
RTTNews | hace 1h 54min
DAX Drifts Lower; Financials Stocks Among Major Losers

DAX Drifts Lower; Financials Stocks Among Major Losers

After four successive days of gains, the French market is exhibiting weakness on Monday as investors make cautious moves, focusing on the meeting between several European leaders and the U.S. President Donald Trump, after the recent Trump-Putin Summit failed to result in any breakthrough to end the war in Ukraine.
RTTNews | hace 2h 19min
DAX Down In Negative Territory In Cautious Trade

DAX Down In Negative Territory In Cautious Trade

German stocks are down in negative territory on Monday with investors focusing on the upcoming meeting between U.S. President Donald Trump and several European leaders, including Ukrainian President Volodymyr Zelenskyy, after the Trump-Putin summit failed to achieve a breakthrough on halting the war in Ukraine.
RTTNews | hace 2h 38min
Sensex, Nifty Rally On GST Reforms Push

Sensex, Nifty Rally On GST Reforms Push

Indian shares rose sharply on Monday after Prime Minister Narendra Modi unveiled plans of the biggest tax overhaul since 2017 over the weekend, boosting stocks across sectors like auto, financial, real estate, consumer and cement.
RTTNews | hace 2h 48min
Eurozone Trade Surplus Declines Sharply In June

Eurozone Trade Surplus Declines Sharply In June

The euro area trade surplus declined sharply in June as exports remained weak amid a rebound in imports, official data revealed on Monday. The trade balance registered a surplus of EUR 7.0 billion compared to May's surplus of EUR 16.5 billion, Eurostat reported. Compared to last year, the surplus contracted by EUR 13.7 billion from EUR 20.7 billion.
RTTNews | hace 2h 53min
Thai Economic Growth Slows In Q2

Thai Economic Growth Slows In Q2

Thailand's economy grew at a softer pace in the second quarter largely due to the slowdown in tourist arrivals, official data revealed on Monday. Gross domestic product expanded 2.8 percent year-on-year in the second quarter, slower than the 3.2 percent growth posted in the first quarter, the National Economic and Social Development Council said.
RTTNews | hace 3h 44min