Asian Markets Track Wall Street Lower

RTTNews | 960日前

(RTTNews) - Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from Wall Street on Friday, as the unexpected drop in US unemployment rate, the lowest since May 1969, led to renewed concerns the US Fed will keep interest rates at higher than currently expected levels for many more months. Asian markets closed mixed on Friday.

Traders also turned cautious after the US military shot down a suspected Chinese spy balloon over the Atlantic Ocean, raising geopolitical tensions.

The Australian stock market is modestly lower in choppy trading on Monday after opening in the green, giving up the gains in the previous three sessions, with the benchmark S&P/ASX 200 staying above the 7,500 level, following the broadly negative cues from Wall Street on Friday, with weakness in gold miners, financials and technology stocks, partially offset by gains in iron ore miners and energy stocks.

The benchmark S&P/ASX 200 Index is losing 16.10 points or 0.21 percent to 7,542.00, after hitting a low of 7,531.40 and a high of 7,567.70 earlier. The broader All Ordinaries Index is down 20.80 points or 0.27 percent to 7,751.00. Australian stocks closed notably higher on Friday.

Among the major miners, Rio Tinto, Fortescue Metals and BHP Group are gaining more than 1 percent each, while Mineral Resources is edging down 0.4 percent. OZ Minerals is flat.

Oil stocks are mostly higher. Woodside Energy and Origin Energy are gaining almost 1 percent each, while Beach energy is advancing more than 3 percent and Santos is edging 0.5 percent.

Among tech stocks, Afterpay owner Block is edging down 0.4 percent, Appen is losing more than 3 percent, Xero is down more than 1 percent, WiseTech Global is slipping almost 1 percent and Zip is declining almost 3 percent.

Gold miners are mostly weak. Northern Star Resources is edging down 0.6 percent, Evolution Mining is down more than 1 percent, Gold Road Resources is losing almost 1 percent and Resolute Mining is declining almost 2 percent, while Newcrest Mining is soaring more than 11 percent after it received a A$24.45 billion takeover bid from American company Newmont Corp.

Among the big four banks, Commonwealth Bank, National Australia Bank, ANZ Banking and Westpac are all losing almost 1 percent each.

In other news, shares in Nick Scali are plunging more than 10 percent despite reporting a 70 percent jump in profit for the first half.

In economic news, the value of retail sales in Australia was down a seasonally adjusted 3.9 percent on month in December, the Australian Bureau of Statistics said on Monday - coming in at A$34.472 billion. On a yearly basis, retail sales were up 7.5 percent. For the fourth quarter of 2022, retail sales dipped 0.2 percent to A$96.877 billion. Sales were up 1.8 percent on year in Q4.

In the currency market, the Aussie dollar is trading at $0.692 on Monday.

The Japanese stock market is significantly higher on Monday, extending the gains in the previous three sessions, with the Nikkei 225 moving a tad above the 27,800 level, despite the broadly negative cues from Wall Street on Friday, as the sharp weakening of the yen against the US dollar is expected to make Japanese assets more attractive for foreign investors. Major exporters are also gaining.

The benchmark Nikkei 225 Index is up 292.51 or 1.06 percent at 27,801.97, after touching a high of 27,821.22 earlier. Japanese shares ended modestly higher on Friday.

Market heavyweight SoftBank Group is edging up 0.1 percent and Uniqlo operator Fast Retailing is gaining almost 3 percent. Among automakers, Honda is gaining more than 2 percent and Toyota is adding almost 2 percent.

In the tech space, Screen Holdings is edging up 0.2 percent, while Advantest and Tokyo Electron are losing almost 1 percent each. In the banking sector, Sumitomo Mitsui Financial is losing almost 1 percent, Mizuho Financial is declining more than 2 percent and Mitsubishi UFJ Financial is down almost 3 percent.

The major exporters are mostly higher. Panasonic is gaining almost 1 percent, while Canon and Mitsubishi Electric are adding more than 1 percent each. Sony is losing almost 1 percent.

Among the other major gainers, Mitsubishi Corp. is soaring almost 8 percent, NTN is surging more than 6 percent and Mitsubishi Motors is gaining almost 5 percent, while Sumitomo Realty & Development and Kawasaki Kisen Kaisha are adding more than 4 percent each. Mazda Motor, Yamaha, Marubeni, Sumitomo and Denso are advancing almost 4 percent each, while Nissan Motor, Mitsui Chemicals, Nippon Sheet Glass, Hino Motors and Toyota Tsusho are all up more than 3 percent each.

Conversely, T&D Holdings is losing almost 3 percent.

In the currency market, the U.S. dollar is trading in the lower 132 yen-range on Monday.

Elsewhere in Asia, Hong Kong is down 2.0 percent, while China, South Korea, Taiwan and Indonesia are lower by between 0.2 and 0.9 percent each. Singapore is bucking the trend and is up 0.2 percent. New Zealand is closed for Waitangi Day holiday and Malaysia is closed for Thaipusam holiday. On Wall Street, stocks recovered from initial weakness but showed a significant move back to the downside over the course of the trading session on Friday. With the pullback on the day, the Nasdaq and S&P 500 gave back ground after moving sharply higher for three straight sessions.

The Nasdaq tumbled 193.86 points or 1.6 percent to 12,006.95, the S&P 500 also slumped 43.28 points or 1.0 percent to 4,136.48 and the narrower Dow showed a more modest decrease on the day, with the blue chip index falling 127.93 points or 0.4 percent to 33,926.01.

Meanwhile, the major European markets also finished the day mixed. While the German DAX Index dipped by 0.2 percent, the French CAC 40 Index advanced by 0.9 percent and the U.K.'s FTSE 100 Index jumped by 1.0 percent.

Crude oil prices fell sharply Friday amid concerns about the outlook for fuel demand, with investors weighing the prospects of a recession - while a stronger dollar also weighed. West Texas Intermediate Crude oil futures for March ended lower by $2.49 or 3.3 percent at $73.39 a barrel.

Sensex, Nifty Seen Lower At Open

Indian shares look set to open on a weak note on Tuesday as investors keep a close eye on ongoing trade talks with the U.S. as well as escalating tensions in Europe and the Middle East, with EU targeting Russian supplies and Ukraine intensifying its attacks on Russian energy infrastructure.

RTTNews | 13分前

Higher Open Called For Thai Stock Market

The Thai stock market has moved lower in four straight sessions, shedding more than 25 points or 1.9 percent along the way. The Stock Exchange of Thailand now sits just above the 1,280-point plateau although it's due for support on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The SET finished modestly lower on Monday following losses from the food, finance, industrial, property, resource, service and technology sectors. For the day, the index lost 10.18 points or 0.79 percent to finish at the daily low of 1,282.54 after peaking at 1,296.42. Volume was 8.171 billion shares worth 31.595 billion baht. There were 356 decliners and 128 gainers, with 167 stocks finishing unchanged. Among the actives, Advanced Info lost 0.68 percent, while Thailand Airport crashed 0.64 percent, Asset World sank 0.83 percent, Banpu plunged 2.48 percent, Bangkok Bank collected 0.68 percent, Bangkok Expressway eased 0.97 percent, BTS Group gave up 1.24 percent, CP All Public dipped 0.52 percent, Charoen Pokphand Foods dropped 0.86 percent, Energy Absolute declined 1.64 percent, Gulf weakened 1.63 percent, Kasikornbank and PTT Global Chemical both slumped 0.91 percent, Krung Thai Bank skidded 0.99 percent, Krung Thai Card retreated 1.64 percent, PTT Oil & Retail fell 0.72 percent, PTT slid 0.75 percent, PTT Exploration and Production was down 0.87 percent, SCG Packaging tanked 2.69 percent, Siam Commercial Bank added 0.40 percent, Siam Concrete tumbled 1.77 percent, Thai Oil plummeted 2.70 percent, True Corporation contracted 0.93 percent, TTB Bank shed 0.53 percent and B. Grimm and Bangkok Dusit Medical were unchanged.

RTTNews | 44分前

Indonesia Bourse Likely To Remain Rangebound

The Indonesia stock market has finished lower in two of three trading days since the end of the seven-day winning streak in which it had surged almost 400 points or 5 percent. The Jakarta Composite Index sits just above the 8,040-point plateau and it figures to hold steady in that neighborhood again on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The JCI finished slightly lower on Monday as losses from the financial shares and telecoms were mitigated by support from the resource and cement companies. For the day, the index dipped 11.08 points or 0.14 percent to finish at 8,040.04 after trading between 8,005.35 and 8,087.93. Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri advanced 0.91 percent, Bank Danamon Indonesia collected 0.85 percent, Bank Negara Indonesia retreated 1.41 percent, Bank Central Asia and Astra Agro Lestari both dropped 0.96 percent, Bank Rakyat Indonesia tanked 2.12 percent, Indosat Ooredoo Hutchison retreated 1.59 percent, Indocement improved 0.72 percent, Semen Indonesia strengthened 1.39 percent, Indofood Sukses Makmur rose 0.32 percent, Astra International shed 0.44 percent, Energi Mega Persada surged 7.14 percent, Aneka Tambang rallied 3.77 percent, Vale Indonesia soared 3.71 percent, Timah spiked 5.00 percent, Bumi Resources skyrocketed 6.14 percent and United Tractors was unchanged.

RTTNews | 1時14分前

Rebound Anticipated For Hong Kong Stock Market

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 360 points or 1.4 percent. The Hang Seng Index now sits just beneath the 26,350-point plateau although it's expected to bounce higher again on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The Hang Seng finished modestly lower on Monday following losses from the financial shares and property stocks, while the technology shares were mixed. For the day, the index sank 200.96 points or 0.76 percent to finish at 26,344.14 after trading between 26,204.01 and 26,479.14. Among the actives, Alibaba Group perked 0.06 percent, while Alibaba Health Info slipped 1.14 percent, ANTA Sports slumped 2.22 percent, China Life Insurance tumbled 3.05 percent, China Mengniu Dairy lost 1.31 percent, China Resources Land retreated 2.41 percent, CITIC plummeted 4.72 percent, CNOOC fell 1.24 percent, Galaxy Entertainment was down 1.18 percent, Haier Smart Home tanked 2.52 percent, Hang Lung Properties shed 1.35 percent, Henderson Land skidded 1.77 percent, Hong Kong & China Gas dropped 1.60 percent, Industrial and Commercial Bank of China declined 2.38 percent, JD.com stumbled 3.31 percent, Lenovo jumped 1.50 percent, Li Auto dipped 1.14 percent, Li Ning added 0.45 percent, Meituan contracted 2.26 percent, New World Development advanced 0.72 percent, Nongfu Spring sank 1.38 percent, Techtronic Industries plunged 4.03 percent, Xiaomi Corporation slid 1.06 percent, WuXi Biologics surged 6.09 percent and CSPC Pharmaceutical was unchanged.

RTTNews | 1時29分前

Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Tuesday, adding to the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,800 level, with gains across most sectors led by mining and technology shares.

RTTNews | 1時34分前

China Stock Market May Tick Higher On Tuesday

The China stock market on Monday snapped the two-day slide in which it had dropped more than 55 points or 1.5 percent. The Shanghai Composite Index now rests just beneath the 3,830-point plateau and it's expected to open to the upside again on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The SCI finished slightly higher on Monday as gains from the broader market were capped by weakness from the financials and resource stocks. For the day, the index gained 8.49 points or 0.22 percent to finish at 3,828.58 after trading between 3,806.20 and 3,831.74. The Shenzhen Composite Index improved 13.80 points or 0.56 percent to end at 2,486.42. Among the actives, Industrial and Commercial Bank of China was down 0.28 percent, while Bank of China contracted 1.51 percent, Agricultural Bank of China plunged 2.41 percent, China Merchants Bank eased 0.20 percent, Bank of Communications stumbled 2.01 percent, China Life Insurance skidded 1.02 percent, Jiangxi Copper declined 1.21 percent, Aluminum Corp of China (Chalco) lost 0.65 percent, Yankuang Energy slumped 0.96 percent, PetroChina shed 0.61 percent, China Petroleum and Chemical (Sinopec) sank 0.75 percent, Huaneng Power tumbled 1.90 percent, China Shenhua Energy dipped 0.23 percent, Gemdale dropped 0.95 percent, Poly Developments retreated 1.39 percent and China Vanke rose 0.29 percent.

RTTNews | 1時44分前

Taiwan Shares Tipped To Open In The Green On Tuesday

The Taiwan stock market has alternated between positive and negative finishes through the last six trading days since the end of the eight-day winning streak in which it had surged more than 1,450 points or 5.8 percent. The Taiwan Stock Exchange now sits just above the 25,880-point plateau and it may see additional support on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The TSE finished sharply higher on Monday following gains from the financial shares, technology stocks, plastics and cement companies. For the day, the index jumped 302.23 points or 1.18 percent to finish at 25,880.60 after trading between 25,599.60 and 25,887.69. Among the actives, Cathay Financial perked 0.17 percent, while Mega Financial fell 0.36 percent, First Financial collected 0.34 percent, Fubon Financial was up 0.16 percent, Taiwan Semiconductor Manufacturing Company soared 2.37 percent, United Microelectronics Corporation shed 0.46 percent, Hon Hai Precision advanced 0.93 percent, Largan Precision improved 0.85 percent, Catcher Technology gained 0.53 percent, MediaTek tanked 2.43 percent, Delta Electronics rallied 2.14 percent, Novatek Microelectronics stumbled 2.68 percent, Formosa Plastics added 0.65 percent, Nan Ya Plastics soared 3.31 percent, Asia Cement jumped 1.79 percent and CTBC Financial and E Sun Financial were unchanged. The lead from Wall Street is mildly positive as the major averages opened in the red on Monday but quickly bounced higher and continued to trend that way throughout the session, ending near daily highs.

RTTNews | 2時14分前

Singapore Stock Market Overdue For Support On Tuesday

The Singapore stock market has finished lower in seven straight sessions, slumping more than 55 points or 1.3 percent along the way. The Straits Times Index now sits just beneath the 4,300-point plateau although it may find traction on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The STI finished slightly lower again on Monday following losses from the financial shares and mixed performances from the property stocks and industrial issues. For the day, the index dipped 5.34 points or 0.12 percent to finish at 4,297.37 after trading between 4,291.99 and 4,315.70. Among the actives, CapitaLand Integrated Commercial Trust shed 0.44 percent, while CapitaLand Investment tumbled 1.11 percent, City Developments jumped 1.19 percent, Comfort DelGro sank 0.67 percent, DBS Group lost 0.34 percent, DFI Retail Group and Venture Corporation both rallied 1.58 percent, Genting Singapore advanced 0.66 percent, Hongkong Land plunged 3.42 percent, Keppel Ltd improved 0.57 percent, Oversea-Chinese Banking Corporation was down 0.12 percent, Seatrium Limited tanked 1.68 percent, SembCorp Industries fell 0.33 percent, Singapore Technologies Engineering increased 0.47 percent, SingTel stumbled 1.59 percent, Thai Beverage climbed 1.09 percent, United Overseas Bank eased 0.06 percent, UOL Group slipped 0.13 percent, Yangzijiang Financial surged 1.67 percent, Yangzijiang Shipbuilding dropped 0.91 percent and Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, CapitaLand Ascendas REIT, Keppel DC REIT, Wilmar International, SATS and Frasers Logistics & Commercial Trust were unchanged. The lead from Wall Street is mildly positive as the major averages opened in the red on Monday but quickly bounced higher and continued to trend that way throughout the session, ending near daily highs.

RTTNews | 2時44分前

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