Asian Shares Climb As Fed Hike Bets Ease

RTTNews | 959日前
Asian Shares Climb As Fed Hike Bets Ease

(RTTNews) - Asian stocks advanced on Wednesday as weak U.S. data released overnight boosted expectations of a less hawkish Federal Reserve.

Investors are pricing in a smaller rate hike in December after a 75-basis point hike in November. Third-quarter U.S. GDP data, due later this week, is expected to offer more clues on the economic and rate outlook.

Regional stocks gave up some early gains in the wake of unexpectedly weak earnings from technology giants Alphabet Inc and Microsoft.

Chinese and Hong Kong stocks rose notably, recovering further from a sharp selloff earlier this week on concerns that President Xi Jinping will continue with his ideology-driven approach at the cost of economic growth.

China's Shanghai Composite index rose 0.78 percent to 2,999.50 while Hong Kong's Hang Seng index gained 1.0 percent to close at 15,317.67.

Japanese shares rose for the third consecutive session to reach a seven-week high. The Nikkei average climbed 0.67 percent to 27,431.84 while the broader Topix index ended 0.58 percent higher at 1,918.21.

Denka shares surged 6.4 percent after the chemical products manufacturer announced it would exit its cement business. Shipping companies led losses, with Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha both falling around 3 percent.

The Japanese yen continued weakening against the dollar as traders extended beets against currency market intervention by the government. Yields fell sharply after the Bank of Japan again said it would increase bond buying operations.

Seoul stocks gained on hopes for slower U.S. rate hikes. The Kospi average inched up 0.65 percent to 2,249.56. Samsung Electronics and Samsung SDI both rose about 3 percent. Battery maker LG Energy Solution jumped 3.5 percent after reporting a turnaround in the third-quarter earnings.

Australian markets ended off their day's highs after data showed inflation reached a 32-year high last quarter, pointing to more economic ructions and putting additional pressure on the Reserve Bank to raise interest rates further.

The benchmark S&P/ASX 200 index inched up 0.18 percent to 6,810.90 while the broader All Ordinaries index closed 0.16 percent higher at 7,005.10.

Coles Group, the second-largest supermarket chain in the country, fell 2.7 percent after it flagged rising cost pressures due to elevated inflation and adverse weather. Across the Tasman, New Zealand's benchmark S&P NZX-50 index rallied 1.32 percent to 11,046.50.

Overnight, U.S. stocks rallied to score a three-day winning streak after a sharp pullback by Treasury yields and better than expected third quarter earnings from the likes of General Motors and Coca-Cola.

The Dow rose 1.1 percent, the tech-heavy Nasdaq Composite jumped 2.3 percent and the S&P 500 added 1.6 percent to reach their best closing levels in over a month as weak data on housing prices and consumer confidence stoked hopes the Fed will slow its aggressive pace of interest rate hikes.

read more
Asian Shares Climb On Trade Talk Optimism

Asian Shares Climb On Trade Talk Optimism

Asian stocks advanced on Wednesday after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.
RTTNews | 42分前
Commodity Currencies Slide Amid Crude Oil Price Drop

Commodity Currencies Slide Amid Crude Oil Price Drop

The commodity currencies such as the Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday amid crude oil price drop, as markets awaited the outcome of US-China trade talks, which have yet to be approved by President Donald Trump, with China's poor oil demand and OPEC+ output increases weighing on the market.
RTTNews | 1時9分前
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 4時51分前
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 5時52分前
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | 6時17分前
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 6時46分前