China Stock Market May Spin Its Wheels On Thursday

RTTNews | 960天前
China Stock Market May Spin Its Wheels On Thursday

(RTTNews) - The China stock market has moved higher in back-to-back sessions, gathering more than 50 points or 1.6 percent along the way. The Shanghai Composite Index now sits just above the 3,025-point plateau although it's likely to run out of steam on Thursday.

The global forecast for the Asian markets remains soft amidst uncertainty over interest rates and the health of the global economy. The European and U.S. markets were slightly lower and the Asian bourses are likely to open in similar fashion.

The SCI finished sharply higher on Wednesday following gains from the financial shares, property stocks and resource companies.

For the day, the index spiked 45.71 points or 1.53 percent to finish at the daily high of 3,025.51 after moving as low as 2,934.09. The Shenzhen Composite Index soared 47.53 points or 2.53 percent to end at 1,929.53.

Among the actives, Industrial and Commercial Bank of China collected 0.69 percent, while Bank of China rose 0.33 percent, China Construction Bank added 0.36 percent, China Merchants Bank retreated 1.43 percent, China Life Insurance soared 4.22 percent, Jiangxi Copper spiked 3.60 percent, Aluminum Corp of China (Chalco) strengthened 1.46 percent, Yankuang Energy gained 0.53 percent, PetroChina eased 0.19 percent, China Petroleum and Chemical (Sinopec) improved 0.46 percent, Huaneng Power increased 0.37 percent, China Shenhua Energy climbed 1.01 percent, Gemdale perked 0.09 percent, Poly Developments jumped 1.34 percent, China Vanke advanced 1.18 percent, China Fortune Land rallied 2.49 percent, Beijing Capital Development surged 4.71 percent and Bank of Communications was unchanged.

The lead from Wall Street ends up negative as the major averages opened lower, bounced back and forth across the unchanged line before a late slide saw them finish with mild losses.

The Dow shed 28.34 points or 0.10 percent to finish at 29,210.85, while the NASDAQ eased 9.09 points or 0.09 percent to close at 10,417.10 and the S&P 500 fell 11.81 points or 0.33 percent to end at 3,577.03.

The late downward push came after the Federal Reserve released the minutes from its latest monetary policy meeting, which showed that members expect interest rates to remain high till prices come down.

The members also lowered their projections for the economy and expect GDP to grow at just a 0.2 percent annualized pace in 2022 and just 1.2 percent in 2023, well below trend and big drop from 2021, which saw the strongest gains since 1984.

Also, the Labor Department said the Producer Price Index for final demand in the U.S. increased by 0.4 percent month-over-month in September, rising for the first time in three months.

Crude oil prices drifted lower on Wednesday, falling for a third straight session amid concerns about the outlook for demand due to slowing global growth after OPEC cut its demand forecast for this year. West Texas Intermediate Crude oil futures for November ended lower by $2.02 or 2.26 percent at $87.33 a barrel.

read more
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Friday.
RTTNews | 11分鐘前
Australian Market Swings To Modest Gains In Mid-market

Australian Market Swings To Modest Gains In Mid-market

The Australian stock market is swinging to modest gains in mid-market moves on Friday after opening in the red, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 8,400 level, with gains in gold miners and financial stocks partially offset by weakness in iron ore miners and technology stocks.
RTTNews | 1小時53分鐘前
Asian Markets Trade Mostly Lower

Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Friday, despite the broadly positive cues from Wall Street overnight, as lingering uncertainty about the ongoing trade war continued to weight on the markets after an appeals court temporarily paused the lower court's ruling to block US President Donald Trump's reciprocal tariffs on imports from U.S. trade partners.
RTTNews | 2小時25分鐘前
Sensex, Nifty Seen Lower Amid US Tariff Uncertainty

Sensex, Nifty Seen Lower Amid US Tariff Uncertainty

Indian shares are likely to open lower on Friday as investors watch the judicial developments surrounding U.S. President Donald Trump's "reciprocal" tariffs and weigh the outlook for Fed policy.
RTTNews | 2小時46分鐘前
Higher Open Tipped For Thai Stock Market

Higher Open Tipped For Thai Stock Market

The Thai stock market on Thursday ended the two-day slide in which it had dropped almost 20 points or 1.5 percent. The Stock Exchange of Thailand now rests just beneath the 1,165-point plateau and it's expected to open to the upside again on Friday.
RTTNews | 3小時52分鐘前
Japanese Market Sharply Lower

Japanese Market Sharply Lower

The Japanese stock market is sharply lower on Friday, snapping a five-session winning streak, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling below the 37,900 level, with weakness across most sectors led by index heavyweights, exporters and technology stocks.
RTTNews | 3小時58分鐘前
Additional Support Expected For Hong Kong Stock Market

Additional Support Expected For Hong Kong Stock Market

The Hong Kong stock market has alternated between positive and negative finishes through the last six 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 23,575-point plateau and it's tipped to open higher again on Friday.
RTTNews | 4小時22分鐘前