China Stock Market May Find Traction On Wednesday

RTTNews | 911 दिनों पहले
China Stock Market May Find Traction On Wednesday

(RTTNews) - The China stock market headed has finished lower in two straight sessions, sinking more than 30 points or 1 percent along the way. The Shanghai Composite Index now rests just above the 3,175-point plateau although it's likely to open higher on Wednesday.

The global forecast for the Asian markets is positive ahead of the Federal Reserve's monetary policy announcement later today. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The SCI finished barely lower on Tuesday following mixed performances from the property and resource stocks, while the financials offered support.

For the day, the index dipped 2.72 points or 0.09 percent to finish at 3,176.33 after trading between 3,171.48 and 3,187.20. The Shenzhen Composite Index lost 11.50 points or 0.56 percent to end at 2,050.37.

Among the actives, Industrial and Commercial Bank of China improved 0.70 percent, while Bank of China advanced 0.96 percent, China Construction Bank strengthened 1.62 percent, China Merchants Bank climbed 0.98 percent, Bank of Communications collected 0.42 percent, China Life Insurance rose 0.31 percent, Jiangxi Copper gathered 1.15 percent, Aluminum Corp of China (Chalco) dipped 0.21 percent, Yankuang Energy jumped 1.83 percent, PetroChina perked 0.20 percent, Huaneng Power added 0.59 percent, China Shenhua Energy gained 0.77 percent, Gemdale skidded 1.15 percent, Poly Developments rallied 1.33 percent, China Vanke was up 0.15 percent, Beijing Capital Development sank 1.00 percent and China Petroleum and Chemical (Sinopec) was unchanged.

The lead from Wall Street is upbeat as the major averages opened sharply higher on Tuesday, faded as the day progressed but still finished in the green.

The Dow climbed 103.60 points or 0.30 percent to finish at 34,108.64, while the NASDAQ jumped 113.08 points or 1.01 percent to close at 11,256.81 and the S&P 500 gained 29.09 points or 0.73 percent to end at 4,019.65.

The early rally on Wall Street followed the release of a Labor Department report showing consumer prices in the U.S. inched up less than expected in November.

Buying interest waned over the course of the morning, however, as traders seemed reluctant to make significant beats ahead of the Fed's rate decision later today. The Fed is widely expected to raise interest rate by another 50 basis points, with traders likely to pay close attention to the accompanying statement for clues about the outlook for future rate hikes.

Crude oil prices rose sharply on Tuesday due to concerns about supply disruptions amid the ongoing shutdown of the Keystone pipeline following a massive leak last week, while a weak dollar also supported oil prices. West Texas Intermediate Crude oil futures for January ended higher by $2.22 or 3 percent at $75.39 a barrel.

Closer to home, China will provide November numbers for foreign direct investment later today; in October, FDI was up 14.4 percent on year.

read more
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | 1घंटे 25 मिनट पहले
Canadian Market Up Slightly In Cautious Trade

Canadian Market Up Slightly In Cautious Trade

After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors. The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
RTTNews | 3घंटे 9 मिनट पहले
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 5घंटे 57 मिनट पहले
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 6घंटे 0 मिनट पहले
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | 6घंटे 43 मिनट पहले
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 7घंटे 9 मिनट पहले
U.S. Weekly Jobless Claims Unchanged At 248,000

U.S. Weekly Jobless Claims Unchanged At 248,000

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th.
RTTNews | 7घंटे 15 मिनट पहले
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
RTTNews | 7घंटे 28 मिनट पहले