Asian Markets Trading Mixed

RTTNews | 597天前
Asian Markets Trading Mixed

(RTTNews) - Asian stock markets are trading mixed on Tuesday, following the mixed cues from global markets overnight, as traders kept an eye on the geopolitical developments in the Middle East and global bond yields. Global equities got a much needed boost from a drop in Treasury yields. The ongoing concerns about the outlook for interest rates continue to weigh on the markets. Asian markets closed mostly lower on Monday.

Recouping some of the losses in the previous three sessions, the Australian stock market is modestly higher on Tuesday, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 6,800 level to rebound from 12-month lows, with gains in iron ore miners and technology stocks partially offset by losses in gold miners.

Traders now look ahead to domestic inflation data and Reserve Bank of Australia Governor Michelle Bullock's remarks later in the week.

The benchmark S&P/ASX 200 Index is gaining 13.60 points or 0.20 percent to 6,857.70, after touching a high of 6,878.50 earlier. The broader All Ordinaries Index is up 13.50 points or 0.19 percent to 7,043.50. Australian stocks closed significantly lower on Monday.

Among the major miners, BHP Group and Rio Tinto are gaining almost 1 percent each, while Mineral Resources is adding almost 2 percent, while and Fortescue Metals is advancing more than 2 percent.

Oil stocks are mixed. Santos is gaining more than 1 percent and Woodside Energy is edging up 0.5 percent, while Origin Energy is edging down 0.3 percent and Beach energy is declining more than 2 percent.

Among tech stocks, Xero and WiseTech Global are edging up 0.2 to 0.4 percent each, while Appen is surging almost 5 percent and Zip is soaring more than 15 percent after the buy now pay later operator after reporting a 32 percent jump in first-quarter revenues. Afterpay owner Block is down almost 1 percent.

Gold miners are mostly lower. Northern Star resources is losing almost 1 percent, Newcrest Mining is down more than 1 percent and Resolute Mining is slipping 3.5 percent, while Evolution Mining and Gold Road Resources are edging down 0.4 percent each.

Among the big four banks, National Australia Bank, ANZ Banking, Westpac and Commonwealth Bank are all edging up 0.3 to 0.5 percent each.

In the currency market, the Aussie dollar is trading at $0.636 on Tuesday.

Extending the losses in the previous three sessions, the Japanese stock market pared early gains to trade significantly lower on Tuesday, with the Nikkei 225 falling below the 30,900 level, following the mixed cues from Wall Street overnight, with weakness across most sectors led by exporters and financial stocks.

The benchmark Nikkei 225 Index closed the morning session at 30,828.59, down 170.96 points or 0.55 percent, after hitting a low of 30,551.67 and a high of 31,210.26 earlier. Japanese shares ended significantly lower on Monday.

Market heavyweight SoftBank Group is gaining almost 1 percent and Uniqlo operator Fast Retailing is also up almost 1 percent. Among automakers, Honda is losing almost 2 percent and Toyota is declining more than 2 percent.

In the tech space, Advantest is gaining almost 1 percent, while Screen Holdings is edging down 0.3 percent and Tokyo Electron is losing almost 1 percent.

In the banking sector, Sumitomo Mitsui Financial is losing almost 2 percent, Mitsubishi UFJ Financial is slipping more than 2 percent and Mizuho Financial is declining almost 3 percent.

The major exporters are mostly lower. Canon is losing 2.5 percent, Panasonic is down more than 1 percent, Mitsubishi Electric is declining more than 2 percent and Sony is slipping almost 1 percent.

Among the other major losers, Nidec is plunging almost 10 percent, Kawasaki Kisen Kaisha is slipping almost 6 percent and Sumitomo Pharma is losing more than 4 percent, while , while Nippon Yusen K.K., Chugai Pharmaceutical and Nippon Paper Industries are down almost 4 percent each. JGC Holdings, Resona Holdings, IHI, Fujikura, NTN, Chiba Bank, Kyowa Kirin and Sumitomo Electric Industries are declining more than 3 percent each. Kobe Steel is down almost 3 percent.

Conversely, there are no other major gainers.

In the currency market, the U.S. dollar is trading in the higher 149 yen-range on Tuesday.

Elsewhere in Asia, New Zealand, Hong Kong, South Korea and Malaysia are lower by between 0.3 and 0.6 percent each, while China, Singapore, Taiwan and Indonesia are higher by between 0.1 and 0.7 percent each.

On Wall Street, stocks recovered from an initial move to the downside but gave back ground in the latter part of the trading session on Monday. The major averages eventually ended the day mixed, with the Dow and the S&P 500 falling to their lowest closing levels in over four months.

While the tech-heavy Nasdaq rose 34.52 points or 0.3 percent to 13,018.33, bouncing off a nearly five-month intraday low, the S&P 500 dipped 7.12 points or 0.2 percent to 4,217.04 and the Dow fell 190.87 points or 0.6 percent to 32,936.41.

The major European markets also turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index fell 0.4 percent, the German DAX Index closed just above the unchanged line and the French CAC 40 Index climbed by 0.5 percent.

Crude oil prices fell sharply on Monday amid easing concerns about oil supply on hopes the diplomatic efforts in the Middle East will help prevent the conflict there from escalating into a bigger regional war. West Texas Intermediate Crude oil futures for November settled at $85.49, down $2.59 or about 2.94 percent.

read more
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 | 55分鐘前
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 | 3小時42分鐘前
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 | 3小時46分鐘前
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 | 4小時29分鐘前
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 | 4小時55分鐘前
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 | 5小時14分鐘前
FTSE 100 Recovers After Weak Start, Up Marginally

FTSE 100 Recovers After Weak Start, Up Marginally

After opening on a negative note amid trade tensions and data showing a contraction in the nation's GDP growth in April, U.K. stocks recovered some lost ground on Thursday. Still, amid uncertainty about China and the U.S. agreeing on a concrete trade deal anytime soon, and lingering concerns about the European Union finalizing a trade deal before the July 8 deadline, the mood in the market remain
RTTNews | 5小時24分鐘前