China Stock Market Expected To Open Under Pressure On Thursday

RTTNews | il y a 474

(RTTNews) - The China stock market on Wednesday snapped the two-day winning streak in which it had collected more than 40 points or 1.3 percent. The Shanghai Composite Index now sits just beneath the 3,130-point plateau and it may take further damage on Thursday.

The global forecast for the Asian markets is uninspired thanks to uncertainty over the outlook for interest rates. The European markets were slightly higher and the U.S. bourses were mixed and flat and the Asian markets figure to follow the latter lead.

The SCI finished modestly lower on Wednesday as losses from the financials and properties were mitigated by support from the energy companies.

For the day, the index shed 19.26 points or 0.61 percent to finish at 3.128.48 after trading between 3,126.17 and 3,144.99. The Shenzhen Composite Index slumped 23.95 points or 1.33 percent to end at 1,772.82.

Among the actives, Industrial and Commercial Bank of China perked 0.19 percent, while Bank of China collected 0.67 percent, China Construction Bank rose 0.28 percent, China Merchants Bank dropped 0.86 percent, Bank of Communications rallied 1.46 percent, China Life Insurance retreated 1.20 percent, Jiangxi Copper skidded 1.17 percent, Aluminum Corp of China (Chalco) sank 0.78 percent, Yankuang Energy surged 3.79 percent, PetroChina was up 0.10 percent, China Petroleum and Chemical (Sinopec) improved 0.78 percent, Huaneng Power slumped 0.87 percent, China Shenhua Energy soared 3.06 percent, Gemdale plummeted 5.63 percent, Poly Developments tanked 3.13 percent and China Vanke plunged 4.26 percent.

The lead from Wall Street offers little clarity as the major averages opened lower but ultimately wound up mixed and little changed.

The Dow added 172.13 points or 0.44 percent to finish at 39,056.39, while the NASDAQ sank 29.80 points or 0.18 percent to close at 16,302.76 and the S&P 500 eased 0.03 points or 0.00 percent to end at 5,187.67.

The choppy trading on Wall Street came amid lingering uncertainty about the outlook for interest rates following Tuesday's remarks by Minneapolis Federal Reserve President Neel Kashkari.

Kashkari suggested interest rates may need to remain at current levels for an extended period and said he couldn't rule out another rate increase.

The Federal Reserve is still widely expected to lower rates sometime in the third quarter, however, with CME Group's FedWatch Tool currently indicating an 83.5 percent chance rates will be lower by September.

Oil futures settled higher on Wednesday after data from the Energy Information Administration (EIA) showed crude inventories rose last week. West Texas Intermediate Crude oil futures for June ended higher by $0.61 or 0.78 percent at $78.99 per barrel.

Closer to home, China will see April results for imports, exports and trade balance later this morning. Imports are expected to rise 6.0 percent on year after slumping 1.9 percent in March. Exports are called higher by an annual 1.0 percent after tumbling 7.5 percent in the previous month. The trade surplus is seen at $81.40 billion, up from $58.55 billion a month earlier.

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 10 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 40 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 10min

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 40min

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 1h 55min

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 10min

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

RTTNews | il y a 3h 10min

U.S. Dollar Climbs Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | il y a 4h 22min

EURUSD	1.16421	GBPUSD	1.34731	AUDUSD	0.6487
USDJPY	147.288	USDCAD	1.38505	USDCHF	0.80412