Little Movement Seen For China Stock Market

RTTNews | 95天前
Little Movement Seen For China Stock Market

(RTTNews) - The China stock market on Monday ended the two-day slide in which it had slipped more than 35 points or 1 percent. The Shanghai Composite Index now rests just above the 3,365-point plateau and it's likely to remain in that neighborhood again on Tuesday.

The global forecast for the Asian markets is cautiously optimistic on the outlook for trade. The European and U.S. markets were slightly higher and the Asian bourses figure to follow that lead.

The SCI finished barely higher on Monday as gains from the oil companies and property stocks were offset by weakness from the energy and financial shares.

For the day, the index perked 0.12 points or 0.00 percent to finish at 3,367.58 after trading between 3,356.65 and 3,373.60. The Shenzhen Composite Index rose 6.63 points or 0.33 percent to end at 1,993.14.

Among the actives, Industrial and Commercial Bank of China slumped 0.56 percent, while Bank of China was down 0.36 percent, Agricultural Bank of China fell 0.54 percent, China Merchants Bank dropped 0.97 percent, Bank of Communications and Huaneng Power both eased 0.13 percent, China Life Insurance retreated 1.31 percent, Jiangxi Copper lost 0.55 percent, Aluminum Corp of China (Chalco) was up 0.15 percent, Yankuang Energy shed 0.47 percent, PetroChina added 0.37 percent, China Petroleum and Chemical (Sinopec) gathered 0.35 percent, China Shenhua Energy sank 0.71 percent, Gemdale advanced 0.97 percent, Poly Developments perked 0.12 percent and China Vanke rose 0.44 percent.

The lead from Wall Street is slightly positive as the major averages spent most of Monday in the red before a late pushed them up and barely over the unchanged line.

The Dow climbed 137.33 points or 0.32 percent to finish at 42,792.07, while the NASDAQ rose 4.36 points or 0.02 percent to close at 19,215.46 and the S&P 500 perked 5.22 points or 0.09 percent to end at 5,963.60.

The initial weakness on Wall Street came in reaction to news that Moody's has downgraded the U.S. debt rating by a notch to Aa1 from Aaa.

Selling pressure waned over the course of the session, however, as traders seem to remain generally optimistic about the outlook for the markets.

On the U.S. economic front, the Conference Board released a report showing its reading on leading U.S. economic indicators slumped by more than expected in the month of April.

Crude oil prices saw mild upside on Monday after Goldman Sachs raised its outlook for demand. West Texas Intermediate crude for June delivery rose $0.17 of 0.27 percent to $62.66 per barrel.

read more
U.S. Dollar Drops After Powell's Speech

U.S. Dollar Drops After Powell's Speech

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as Federal Reserve Chair Jerome Powell hinted at a potential rate cut next month.
RTTNews | 3小時50分鐘前
TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes

TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes

The Canadian market is up firmly in positive territory a little past noon on Friday, with stocks from across several sectors moving higher on strong buying support amid rising hopes of an interest rate cut by the Federal Reserve in September.
RTTNews | 9小時20分鐘前
Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Federal Reserve Chair Jerome Powell delivered a highly-anticipated speech before the Jackson Hole Economic Symposium on Friday, although he touched only briefly on the outlook for monetary policy. "With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," Powell said.
RTTNews | 11小時29分鐘前
Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed

Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed

Canadian shares are likely to open on a somewhat mixed note Friday morning with investors awaiting Fed Chair Jerome Powell's speech at Jackson Hole. Lower commodity prices may weigh a bit early on in the session.
RTTNews | 13小時59分鐘前
Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns

Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns

Indian shares fell sharply on Friday after a Trump administration official called India the 'Maharaja' of tariffs and ramped up his criticism over the trade ahead of an expected tariff increase on August 27.
RTTNews | 15小時45分鐘前
FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply

FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply

U.K. stocks are turning in a mixed performance in cautious trade on Friday, amid a lack of fresh triggers. Investors are awaiting Fed Chair Jerome Powell's speech later in the day at the Jackson Hole Symposium, for clues about U.S. central bank's interest rate move next month.
RTTNews | 15小時51分鐘前
U.S. Dollar Rises Ahead Of Fed's Powell Speech

U.S. Dollar Rises Ahead Of Fed's Powell Speech

The U.S. dollar strengthened against other major currencies in the European session on Friday, as traders expect speech by Fed Chair Jerome Powell at the Jackson Hole Symposium.
RTTNews | 15小時55分鐘前
CAC 40 Up Slightly In Lackluster Trade

CAC 40 Up Slightly In Lackluster Trade

French stocks are mostly subdued on Friday with investors refraining from making significant moves, choosing to wait for key speeches from central bank chiefs at the Jackson Hole Symposium. The focus is on Fed Chair Jerome Powell's speech for clues about interest rate cuts in September.
RTTNews | 16小時12分鐘前