Rebound Anticipated For China Stock Market

RTTNews | 818 दिनों पहले
Rebound Anticipated For China Stock Market

(RTTNews) - The China stock market on Thursday snapped the two-day winning streak in which it had climbed more than 50 points or 1.6 percent. The Shanghai Composite Index now sits just above the 3,310-point plateau although it may bounce higher again on Friday.

The global forecast for the Asian markets is positive on optimism over inflation, demand and interest rates. 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 Thursday following losses from the properties, gains from the financials and a mixed picture from the resource stocks.

For the day, the index eased 1.69 points or 0.05 percent to finish at 3,310.65 after trading between 3,306.46 and 3,320.74. The Shenzhen Composite fell 11.18 points or 0.52 percent to end at 2,152.64.

Among the actives, Industrial and Commercial Bank of China collected 0.47 percent, while Bank of China added 0.62 percent, China Construction Bank gained 0.53 percent, Bank of Communications improved 0.61 percent, China Life Insurance fell 0.24 percent, Aluminum Corp of China (Chalco) increased 0.35 percent, Yankuang Energy tumbled 1.74 percent, PetroChina strengthened 1.52 percent, China Petroleum and Chemical (Sinopec) rallied 2.11 percent, Huaneng Power dropped 0.96 percent, China Shenhua Energy gathered 0.43 percent, Gemdale and China Vanke both plummeted 2.85 percent, Poly Developments declined 1.39 percent, China Fortune Land stumbled 1.46 percent and China Merchants Bank and Jiangxi Copper were unchanged.

The lead from Wall Street is upbeat as the major averages opened mixed but trended steadily upward throughout the session, with all finishing firmly in the green.

The Dow surged 341.75 points or 1.05 percent to finish at 33,003.57, while the NASDAQ advanced 83.50 points or 0.73 percent to end at 11,462.98 and the S&P 500 gained 29.96 points or 0.76 percent to close at 3,981.35.

The surge by the Dow reflected a spike by shares of Salesforce (CRM), with the cloud-based software company soaring 11.5 percent on better than expected Q4 results and upbeat guidance.

The markets also rebounded on comments from Atlanta Federal Reserve President Raphael Bostic, who said he strongly favors raising interest rates in only quarter-point increments.

Traders largely shrugged off a continue surge in treasury yields, which followed the release of a Labor Department report unexpectedly showing a modest decline in initial jobless claims last week.

Crude oil prices climbed higher on Thursday, extending gains from the previous session as optimism about higher demand from China outweighed concerns about inflation and interest rate hikes. West Texas Intermediate crude oil futures for April settled at $78.16 a barrel, gaining $0.47 or 0.6 percent.

Closer to home, China will see February results for the services PMI from Caixin later this morning, with forecasts suggesting a score of 54.7 - up from 52.9 in January.

read more
Sensex, Nifty Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty Modestly Higher; IT Stocks Lead Gains

Indian shares opened on a firm note Thursday after technology giant Nvidia buoyed investors with a bullish outlook for the growth in artificial intelligence and the U.S. Court of International Trade blocked President Trump's proposed "Liberation Day" tariffs, saying he had overstepped his authority.
RTTNews | 21 मिनटों पहले
Australian Market Slightly Trims Early Gains In Mid-market

Australian Market Slightly Trims Early Gains In Mid-market

The Australian market is slightly trimming its early gains in mid-market moves on Thursday, reversing the slight losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,400 level, with gains in energy and technology stocks partially offset by a mixed performance in mining and financial stocks.
RTTNews | 1घंटे 18 मिनट पहले
Asian Markets Mostly Higher

Asian Markets Mostly Higher

Asian stock markets are trading mostly higher on Thursday, despite the broadly negative cues from Wall Street overnight, after a U.S. federal court blocked US President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority. Asian markets closed mostly lower on Wednesday.
RTTNews | 1घंटे 38 मिनट पहले
Sensex, Nifty Seen Higher As US Court Blocks Trump's Tariffs

Sensex, Nifty Seen Higher As US Court Blocks Trump's Tariffs

Indian shares look set to open higher on Thursday as investors react to encouraging industrial output data, upbeat Nvidia earnings and a U.S. court ruling blocking President Trump's "Liberation Day" tariffs, citing overreach of power.
RTTNews | 2घंटे 13 मिनट पहले
Japanese Market Sharply Higher

Japanese Market Sharply Higher

The Japanese market is trading sharply higher on Thursday, extending the gains in the previous four sessions, despite the broadly negative cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights, exporters and technology stocks.
RTTNews | 3घंटे 6 मिनट पहले
Thai Shares May Take Further Damage On Thursday

Thai Shares May Take Further Damage On Thursday

The Thai stock market has tracked lower in two straight sessions, slipping almost 20 points or 1.5 percent along the way. The Stock Exchange of Thailand now rests just above the 1,160-point plateau and it's expected to open to the downside again on Thursday.
RTTNews | 3घंटे 10 मिनट पहले
Lower Open Anticipated For Hong Kong Stock Market

Lower Open Anticipated For Hong Kong Stock Market

The Hong Kong stock market has alternated between positive and negative finishes through the last five trading days since the end of the two-day winning streak in which it had rallied almost 500 points or 2.2 percent. The Hang Seng Index now sits just beneath the 23,260-point plateau and it's tipped to open under pressure again on Thursday.
RTTNews | 3घंटे 25 मिनट पहले
Australian Market Modestly Higher

Australian Market Modestly Higher

The Australian market is trading modestly higher on Thursday, reversing the slight losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,400 level, with gains in energy, financial and technology stocks partially offset by a mixed performance in mining stocks.
RTTNews | 3घंटे 36 मिनट पहले