Higher Open Predicted For China Stock Market

RTTNews | 502 days ago

(RTTNews) - The China stock market on Wednesday ended the five-day losing streak in which it had stumbled almost 80 points or 2.7 percent. The Shanghai Composite Index now sits just above the 2,970-point plateau and it's looking at additional support on Thursday.

The global forecast for the Asian markets is mixed and flat ahead of key economic data in the coming days. The European markets were slightly lower and the U.S. bourses saw mild gains and the Asian markets figure to split the difference.

The SCI finished modestly higher on Wednesday following gains from the financial shares and insurance companies, while the properties and energy stocks were mixed.

For the day, the index gained 22.53 points or 0.76 percent to finish at 2,972.53 after trading between 2,933.33 and 2,976.67. The Shenzhen Composite Index jumped 32.44 points or 2.02 percent to end at 1,641.47.

Among the actives, Industrial and Commercial Bank of China collected 0.54 percent, while Bank of China improved 0.66 percent, China Construction Bank rose 0.41 percent, China Merchants Bank sank 0.70 percent, Bank of Communications advanced 0.69 percent, China Life Insurance added 0.39 percent, Ping An Insurance rose 0.24 percent, Jiangxi Copper fell 0.37 percent, PetroChina retreated 1.22 percent, China Petroleum and Chemical (Sinopec) gained 0.65 percent, China Shenhua Energy shed 0.41 percent, Gemdale dipped 0.29 percent, Poly Developments stumbled 1.49 percent, China Vanke climbed 1.13 percent and Aluminum Corporation of China (Chalco) was unchanged.

The lead from Wall Street is cautiously optimistic as the major averages opened lower on Wednesday and spent most of the day hugging the line before a late push nudged them into the green.

The Dow rose 15.64 points or 0.04 percent to finish at 39,127.80, while the NASDAQ gained 87.50 points or 0.49 percent to close at 17,805.16 and the S&P 500 added 8.50 points or 0.16 percent to end at 5,477.90.

The uncertainty on Wall Street came as investors braced for the release of key U.S. inflation data later this week for clues on the outlook for interest rates.

Bank stocks were in focus ahead of the central bank's annual stress test, while shares of energy firms struggled a bit due to sluggish oil prices.

In economic news, the Commerce Department said new home sales in the U.S. saw a substantial decrease in the month of May, while building permits also slumped.

Crude oil futures fell on Wednesday after data showed a notable increase in crude inventories in the U.S. last week but recovered and eventually ended the day's session slightly higher. West Texas Intermediate Crude oil futures for August rose $0.07 at $80.90 a barrel.

Win Streak May Continue For Malaysia Stock Market

The Malaysia stock market has moved higher in back-to-back sessions, collecting almost 10 points or 0.7 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,630-point plateau and it's expected to see additional support on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The KLCI finished modestly higher on Monday following gains from the financial shares and telecoms and mixed performances from the plantations and industrials. For the day, the index added 8.25 points or 0.51 percent to finish at 1,627.38 after trading between 1,620.49 and 1,633.52. Among the actives, 99 Speed Mart Retail and CIMB Group both gained 0.66 percent, while AMMB Holdings increased 0.70 percent, Axiata surged 3.85 percent, Celcomdigi shed 0.27 percent, Gamuda advanced 0.79 percent, IHH Healthcare slumped 0.72 percent, IOI Corporation lost 0.25 percent, Kuala Lumpur Kepong perked 0.19 percent, Maxis soared 3.04 percent, Maybank collected 0.30 percent, MISC spiked 2.88 percent, MRDIY declined 1.23 percent, Nestle Malaysia sank 0.36 percent, Petronas Chemicals accelerated 2.82 percent, Petronas Dagangan rallied 1.69 percent, PPB Group added 0.69 percent, Press Metal strengthened 1.11 percent, QL Resources fell 0.24 percent, RHB Bank jumped 1.48 percent, SD Guthrie improved 0.74 percent, Sunway stumbled 1.65 percent, Telekom Malaysia rose 0.55 percent, Tenaga Nasional climbed 0.91 percent, YTL Corporation plunged 2.73 percent, YTL Power retreated 1.28 percent and Petronas Gas, Public Bank and Sime Darby were unchanged.

RTTNews | 1h 25min ago

Japan Shares May Extend Monday's Gains

The Japan stock market has moved higher in two of three trading days since the end of the two-day slide in which it had plunged nearly 2,200 points or 4.2 percent. The Nikkei 225 now rests just above the 50,900-point plateau and it may add to its winnings on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The Nikkei finished sharply higher on Monday following gains from the financial shares and technology stocks, while the automobile producers were mixed. For the day, the index jumped 635.39 points or 1.26 percent to finish at 50,911.76 after trading between 50,392.44 and 50,969.50. Among the actives, Nissan Motor accelerated 2.11 percent, while Mazda Motor stumbled 2.06 percent, Toyota Motor rose 0.42 percent, Honda Motor plunged 4.67 percent, Softbank Group spiked 2.56 percent, Mitsubishi UFJ Financial and Mizuho Financial both collected 0.67 percent, Sumitomo Mitsui Financial added 0.65 percent, Mitsubishi Electric gathered 0.33 percent, Sony Group improved 0.59 percent, Panasonic Holdings perked 0.15 percent and Hitachi rallied 2.15 percent. The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

RTTNews | 1h 40min ago

KOSPI May Break Through 4,100-Point Barrier

The South Korea stock market has tracked higher in two of three trading days since the end of the two-day slide in which it had plummeted almost 220 points or 5 percent. The KOSPI sits just beneath the 4,075-point plateau and it's tipped to open in the green again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The KOSPI finished sharply higher on Monday with gains across the board, especially among the financial shares, technology stocks and industrials. For the day, the index surged 119.48 points or 3.02 percent to finish at 4,073.24 after trading between 3,984.24 and 4,092.91. Volume was 334 million shares worth 16.5 trillion won. There were 804 gainers and 98 decliners. Among the actives, Shinhan Financial collected 1.81 percent, while KB Financial spiked 4.28 percent, Hana Financial vaulted 4.57 percent, Samsung Electronics jumped 2.76 percent, Samsung SDI strengthened 2.94 percent, LG Electronics climbed 1.47 percent, SK Hynix rallied 4.48 percent, LG Chem expanded 3.93 percent, Lotte Chemical skyrocketed 7.12 percent, SK Innovation accelerated 3.97 percent, POSCO Holdings improved 1.51 percent, SK Telecom added 0.94 percent, KEPCO soared 4.88 percent, Hyundai Mobis gained 3.62 percent, Hyundai Motor increased 2.46 percent, Kia Motors surged 3.27 percent and Naver was unchanged.

RTTNews | 1h 55min ago

Japan Current Account Data Due On Tuesday

Japan will on Tuesday release September figures for current account, highlighting a modest day for Asia-Pacific economic activity. The current account surplus is seen at 2.26 trillion yen, down from 246.35 trillion yen in the previous month.

RTTNews | 2h 25min ago

Swiss Market Settles On Buoyant Note

The Switzerland market turned in a fine performance on Monday, in line with markets across the globe, amid hopes the U.S. government shutdown will end soon.

RTTNews | 6h 8min ago

European Markets Close On Strong Note On Hopes Of End To US Government Shutdown

European stocks closed on a strong note on Monday and most of the major markets rebounded from multi-week lows posted in the previous session, as rising prospects of an end to the government shutdown in the U.S., helped underpin sentiment.

RTTNews | 6h 35min ago

Technology, Materials Stocks Climb Higher; TSX Up Over 1%

After with a strong positive gap and moving further up north, the Canadian market remains high up in positive territory around noon on Monday with stocks from materials and technology sectors scoring impressive gains. The mood in the market is quite bullish amid prospects of an end to the US government shutdown.

RTTNews | 7h 36min ago

Bay Street Looks Set To Open On Firm Note

Canadian stocks are likely to open on a firm note on Monday, riding on higher commodity prices and prospects of an end to the government shutdown in the U.S.

RTTNews | 11h 16min ago

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