Hong Kong Shares Poised To Open Under Pressure

RTTNews | 825天前

(RTTNews) - 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 jumped more than 350 points or 1.7 percent. The Hang Seng Index now sits just above the 19,430-point plateau and it's looking at another soft start again on Wednesday.

The global forecast for the Asian markets remains soft on increasing concerns over the Republican-manufactured U.S. debt ceiling confrontation. The European and U.S. markets were down and the Asian bourses figure to follow that lead.

The Hang Seng finished sharply lower on Tuesday following losses from the financial shares, property stocks and technology companies.

For the day, the index retreated 246.25 points or 1.25 percent to finish at 19,431.25 after trading between 19,363.50 and 19,769.14.

Among the actives, Alibaba Group slid 0.72 percent, while Alibaba Health Info was down 0.20 percent, ANTA Sports plunged 2.67 percent, China Life Insurance tumbled 2.17 percent, China Mengniu Dairy lost 0.80 percent, China Resources Land sank 1.09 percent, CITIC dipped 0.58 percent, CNOOC fell 0.78 percent, Country Garden tanked 2.62 percent, CSPC Pharmaceutical added 0.66 percent, Galaxy Entertainment perked 0.10 percent, Hang Lung Properties eased 0.16 percent, Henderson Land dropped 1.10 percent, Hong Kong & China Gas shed 0.95 percent, Industrial and Commercial Bank of China stumbled 1.35 percent, JD.com skidded 1.21 percent, Lenovo retreated 1.51 percent, Li Ning plummeted 2.91 percent, Meituan gained 0.15 percent, New World Development slumped 1.34 percent, Techtronic Industries surrendered 1.90 percent, Xiaomi Corporation declined 1.82 percent and WuXi Biologics advanced 0.67 percent.

The lead from Wall Street suggests consolidation as the major averages opened lower on Tuesday and spent much of the day hugging the line before slumping in the afternoon.

The Dow tumbled 231.07 points or 0.69 percent to finish at 33,055.51, while the NASDAQ sank 160.53 points or 1.26 percent to end at 12,560.25 and the S&P 500 dropped 47.05 points or 1.12 percent to close at 4,145.58.

The markets continue to be weighed by the debt ceiling negotiations. U.S. President Joe Biden and House Speaker Kevin McCarthy said they held productive talks but there was no agreement on how to raise the government's $31.4 trillion debt ceiling.

In economic news, the S&P Global US Composite PMI accelerated to its fastest pace in more than a year, while the Commerce Department said new home sales surprised much higher to the upside.

Crude oil futures advanced on speculation that OPEC might consider another production cut next month, and on a warning from Saudi Arabia's energy minister that oil prices will stop declining. West Texas Intermediate Crude oil futures for July rose $0.86 or 1.2 percent at $72.91 a barrel.

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 23分鐘前

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | 38分鐘前

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 53分鐘前