Australian Market Significantly Higher

RTTNews | 886 days ago
Australian Market Significantly Higher

(RTTNews) - The Australian stock market is significantly higher on Monday, extending the gains in the previous three sessions, with the benchmark S&P/ASX 200 staying below the 7,200 level, following the broadly positive cues from global markets on Friday, with gains across most sectors, led by mining stocks after iron ore and gold prices firmed.

Data showing a drop in U.S. wage growth and a contraction in U.S. service sector activity in the month of December also helped ease concerns about aggressive policy tightening by the US Federal Reserve.

The benchmark S&P/ASX 200 Index is gaining 58.30 points or 0.82 percent to 7,167.90, after touching a high of 7,186.20 earlier. The broader All Ordinaries Index is up 61.80 points or 0.85 percent to 7,370.60. Australian stocks closed significantly higher on Friday.

Among the major miners, Rio Tinto is edging up 0.2 percent, BHP Group is gaining almost 2 percent and Mineral Resources is advancing more than 3 percent, while Fortescue Metals is edging down 0.5 percent. OZ Minerals is flat.

Oil stocks are higher. Woodside Energy and Santos are gaining more than 1 percent, while Beach energy is advancing almost 3 percent and Origin Energy is edging up 0.2 percent.

Among tech stocks, Afterpay owner Block is gaining almost 4 percent, Appen is adding almost 1 percent, Xero is advancing more than 2 percent, WiseTech Global is up more than 1 percent and Zip is rising almost 2 percent.

Gold miners are strong. Northern Star Resources is gaining more than 1 percent, Evolution Mining, Newcrest Mining are adding more than 2 percent, Gold Road Resources is edging up 0.4 percent and Resolute Mining is surging 4.5 percent.

Among the big four banks, Commonwealth Bank and Westpac are gaining almost 1 percent each, while National Australia Bank and ANZ Banking are adding more than 1 percent each.

In the currency market, the Aussie dollar is trading at $0.690 on Monday.

On Wall Street, stocks turned in a fine performance on Friday after opening on a slightly cautious note, and the major averages all ended with strong gains.

The Dow ended with a gain of 700.53 points or 2.13 percent at 33,630.61. The S&P 500 surged 86.98 points or 2.28 percent at 3,895.08, while the Nasdaq climbed 264.05 points or 2.56 percent to 10,569.29.

The major European markets also moved to the upside on the day. The U.K.'s FTSE 100 climbed 0.87 percent, Germany's DAX advanced 1.2 percent, and France's CAC 40 ended stronger by 1.47 percent.

Crude oil prices settled flat on Friday as fears of a global recession raised concerns about the outlook for energy demand. West Texas Intermediate Crude oil futures for February settled at $73.77 a barrel, up just 10 cents from the previous close.

read more
Singapore Bourse May Extend Thursday's Gains

Singapore Bourse May Extend Thursday's Gains

The Singapore stock market on Thursday ended the two-day slide in which it had fallen more than 15 points or 0.4 percent. The Straits Times Index now sits just above the 3,920-point plateau and it's tipped to open to the upside again on Friday.
RTTNews | 37 minutes ago
Malaysia Stock Market May See Additional Support

Malaysia Stock Market May See Additional Support

The Malaysia stock market has ticked higher in consecutive trading days, gathering almost 10 points or 0.6 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,525-point plateau and it may add to its winnings again on Friday.
RTTNews | 1h 7min ago
Win Streak May Continue For South Korea Stock Market

Win Streak May Continue For South Korea Stock Market

The South Korea stock market has finished higher in seven straight sessions, collecting more than 225 points or 8.2 percent along the way. The KOSPI now rests just above the 2,920-point plateau and it's tipped to open in the green again on Friday.
RTTNews | 1h 37min ago
New Zealand Manufacturing PMI Data Due On Friday

New Zealand Manufacturing PMI Data Due On Friday

New Zealand will on Friday release May results for the manufacturing PMI from BusinessNZ, highlighting a light day for Asia-Pacific economic activity. In April, the PMI score was 53.9.
RTTNews | 2h 31min ago
Taiwan Shares May Bounce Higher Again On Friday

Taiwan Shares May Bounce Higher Again On Friday

The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
RTTNews | 2h 54min ago
Rebound Anticipated For Japan Stock Market

Rebound Anticipated For Japan Stock Market

The Japan stock market on Thursday ended the four-day winning streak in which it had climbed more than 860 points or 2.5 percent. The Nikkei 225 now sits just beneath the 38,175-point plateau although it may bounce higher again on Friday.
RTTNews | 2h 55min ago
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | 6h 10min ago
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 | 7h 54min ago