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DAX Rallies Led By Banks
(RTTNews) - German stocks rallied on Tuesday, the U.S. dollar weakened, and Eurozone yields fell as focus shifted to a two-day policy meeting of the Federal Reserve that gets underway later today.
It is widely believed that Fed might signal a slowdown of its tightening path after delivering a 75-bps rate hike on Wednesday.
Doubts remain, however, about whether the Fed will soften hits hawkish stance amid many risks surrounding the inflation outlook.
The benchmark DAX jumped 135 points, or 1 percent, to 13,389 after finishing marginally higher the previous day.
Economy-sensitive stocks were moving higher, with lenders Commerzbank and Deutsche Bank rising around 2 percent each.
Automakers BMW, Mercedes Benz and Volkswagen were up around 1 percent each.
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Indonesia Shares May Reverse Tuesday's Losses
The Indonesia stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,900-point plateau although it's looking to bounce higher again on Wednesday.
The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.
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Australian Market Modestly Higher
Australian shares are trading modestly higher on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains in mining and financial stocks.
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Hong Kong Shares Expected To Open To The Upside
The Hong Kong stock market on Tuesday ended the two-day winning streak in which it had advanced more than 825 points or 3.4 percent. The Hang Seng Index now rests just above the 25,520-point plateau although it may find renewed support on Wednesday.
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Higher Open Called For China Stock Market
The China stock market on Tuesday halted the four-day winning streak in which it had rallied almost 160 points or 4.4 percent. The Shanghai Composite Index now sits just beneath the 3,870-point plateau although it may move back to the upside again on Wednesday.
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Win Streak May Continue For Taiwan Stock Market
The Taiwan stock market has tracked higher in back-to-back sessions, gathering almost 540 points or 2.2 percent along the way. The Taiwan Stock Exchange now rests just above the 24,300-point plateau and it may add to its winnings again on Wednesday.
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Singapore Stock Market Expected To Open In The Green
The Singapore stock market on Tuesday snapped the five-day winning streak in which it had climbed almost 70 points or 1.6 percent. The Straits Times Index now sits just above the 4,240-point plateau although it may move back above water on Wednesday.
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Malaysia Stock Market Expected To Open To The Upside On Wednesday
The Malaysia stock market on Tuesday wrote a finish to the three-day winning streak in which it had collected almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,580-point plateau although it's likely to rebound on Wednesday.
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Japan Stock Market May See Renewed Support
The Japan stock market on Tuesday halted the two-day winning streak in which it had advanced almost 200 points or 0.5 percent. The Nikkei 225 now rests just beneath the 42,400-point plateau although it's expected to open in the green on Wednesday.
The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.
The Nikkei finished sharply lower on Tuesday following losses from the financial shares, technology stocks and automobile producers.
For the day, the index slumped 413.42 points or 0.97 percent to finish at 42,394.40 after trading between 42,137.62 and 42,703.27.
Among the actives, Nissan Motor plummeted 6.25 percent, while Mazda Motor added 0.40 percent, Toyota Motor retreated 1.41 percent, Honda Motor tumbled 1.71 percent, Softbank Group dropped 0.91 percent, Mitsubishi UFJ Financial sank 0.72 percent, Mizuho Financial shed 0.45 percent, Sumitomo Mitsui Financial skidded 1.01 percent, Mitsubishi Electric tumbled 1.91 percent, Sony Group declined 1.87 percent, Panasonic Holdings slumped 1.11 percent and Hitachi contracted 1.63 percent.
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