Asian Shares Extend Losses On Fed, US-China Trade Jitters

RTTNews | 973日前
Asian Shares Extend Losses On Fed, US-China Trade Jitters

(RTTNews) - Asian stocks ended mostly lower on Tuesday to extend recent losses amid worries about relentless Federal Reserve tightening and the escalation of the conflict in Ukraine following heavy Russian attacks.

Technology stocks bore the brunt of the selling as the United States intensified efforts to hobble China's semiconductor industry.

China's Shanghai Composite index rose 0.19 percent to 2,979.79 as a strong outlook from COSCO Shipping Holdings Co Ltd and Contemporary Amperex Technology Co Ltd helped offset mounting economic woes.

The Taiwan Weighted Index, which is heavily exposed to Chinese chipmaking stocks, plummeted 4.4 percent to a near two-year low, while Hong Kong's Hang Seng index fell 2.23 percent to 16,832.36.

Japanese shares lost ground on worries about aggressive policy tightening in the wake of hawkish signals from Federal Reserve Vice Chair Lael Brainard.

Brainard on Monday said the central bank has no intentions of a dovish pivot in the near-term, and the actual policy path will be data dependent.

The Nikkei average fell 2.64 percent to 26,401.25 as traders returned from a three-day holiday weekend. The broader Topix index ended 1.86 percent lower at 1,871.24, marking its worst day since Sept. 26.

Tech stocks led losses, with chipmaking equipment manufacturer Tokyo Electron falling 5.5 percent.

Nidec Corp, a manufacturer and distributor of electric motors, plummeted 9.3 percent on share buyback allegations. The company denied a report that said it had engaged in inappropriate handling of share buybacks.

South Korea's tech heavy Kospi average tumbled 1.83 percent to 2,192.07 as traders returned to their desks after a holiday on Monday.

Hyundai Motor lost 4.3 percent and its affiliate Kia plunged 5.1 percent on concerns that their competitiveness could be seriously hurt by the U.S. Inflation Reduction Act that excludes electric vehicles assembled outside the U.S. from tax incentives.

Australian markets fell for a third day running, as oil extended overnight loses and a survey showed Australian consumer confidence fell to its lowest level since mid-August last week.

The benchmark S&P/ASX 200 dropped 0.34 percent to 6,645 while the broader All Ordinaries index closed 0.40 percent lower at 6,844.30.

Across the Tasman, New Zealand's S&P/NZX-50 index rose 0.35 percent to 10,956.71.

U.S. stocks closed lower for a fourth straight session overnight, as concerns over aggressive monetary policy tightening and increased geopolitical risks lifted the dollar gauge to the highest level this month.

The Dow slipped 0.3 percent, the S&P 500 shed 0.8 percent and the tech-heavy Nasdaq Composite fell 1 percent.

read more
Gold Dips As US-China Trade Talks Continue

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.
RTTNews | 1時53分前
Crude Oil Prices Fade As US-China Talks Progress

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.
RTTNews | 1時59分前
Canadian Dollar Appreciates Amid Risk Appetite

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.
RTTNews | 2時39分前
Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.
RTTNews | 4時4分前
European Stocks Close On Mixed Note

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.
RTTNews | 4時20分前
TSX Up Marginally; Energy Stocks Rise

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.
RTTNews | 5時28分前
U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.
RTTNews | 6時4分前
Eurozone Investor Confidence Strongest In A Year: Sentix

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.
RTTNews | 8時58分前