Asian Shares Advance Ahead Of US CPI Data

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(RTTNews) - Asian stocks advanced on Tuesday as investors eagerly awaited U.S. CPI data and a highly anticipated meeting between U.S. President Joe Biden and Chinese leader Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco.

A cautious undertone prevailed due to concerns about a possible U.S. government shutdown should Congress fail to pass a spending plan by Friday.

The dollar index was up slightly, and gold was marginally lower while oil extended overnight gains as OPEC's revised outlook suggested robust demand for 2023.

China's Shanghai Composite index rose 0.31 percent to 3,056.07 after data showed China's credit growth remained steady in October on the back of a big jump in government bond sales to finance stimulus.

Hong Kong's Hang Seng index edged down 0.17 percent to 17,396.86, giving up earlier gains as caution prevailed ahead of a range of Chinese economic data due Wednesday including reports on retail sales, industrial production and fixed-asset investment.

Japanese shares eked out modest gains as a battered yen, which was stuck near a three-decade low against the dollar, boosted auto stocks.

The Nikkei average rose 0.34 percent to 32,695.93 while the broader Topix index settled 0.37 percent higher at 2,345.29.

Toyota Motor, Nissan and Honda Motor climbed 1-2 percent. Tech stocks such as Advantest and Tokyo Electron jumped 3-4 percent.

A former BoJ official stated that the central bank is likely to raise short-term rates to around 0.0 percent from -0.1 percent in April 2024.

Seoul stocks recovered from a one-week low, with the Kospi average climbing 1.23 percent to 2,433.25 led by battery makers, tech and chemical stocks. LG Chem, Naver, Kakao and LG Energy Solution jumped 3-5 percent.

Australian markets recovered from a 11-month low despite a measure of consumer sentiment deteriorating in November amid higher interest rates.

The benchmark S&P/ASX 200 jumped 0.83 percent to 7,006.70, marking its highest level since Nov. 9 as higher iron ore prices lifted miners.

Heavyweights BHP and Rio Tinto rose 1.4 percent and 2 percent, respectively while smaller rival Fortescue Metals Group surged 2.7 percent. Energy stocks also rallied, with Santos gaining 2.5 percent.

The broader All Ordinaries index closed 0.87 percent higher at 7,207.10 ahead of wages and employment data due later in the week.

Across the Tasman, New Zealand benchmark S&P/NZX 50 index ended 0.72 percent higher at 11,173.28.

U.S. stocks ended mixed overnight amid lingering concerns regarding the country's fiscal deficits and debt affordability.

Underlying sentiment was underpinned after the New York's Fed survey showed American consumers' short-term inflation expectations fell in October.

The Dow inched up 0.2 percent while the tech-heavy Nasdaq Composite slipped 0.2 percent and the S&P 500 finished marginally lower following Friday's strong rally.

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure 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 | il y a 12 minutes

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | il y a 15 minutes

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | il y a 27 minutes

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected 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. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | il y a 57 minutes

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains 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 | il y a 1h 27min

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 | il y a 1h 57min

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 | il y a 2h 12min

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 | il y a 2h 27min

EURUSD	1.16383	GBPUSD	1.34711	AUDUSD	0.64861
USDJPY	147.294	USDCAD	1.38526	USDCHF	0.80439