China Stock Market Overdue For Consolidation

RTTNews | 547日前

(RTTNews) - The China stock market has moved higher in eight straight sessions, surging more than 300 points or 10.9 percent along the way. The Shanghai Composite Index now rests just above the 3,000-point plateau although investors may lock in gains on Monday.

The global forecast for the Asian markets is cautiously optimistic on optimism over earnings, although profit taking may take hold later in the day. The European and U.S. markets saw mostly modest gains and the Asian bourses figure to follow that lead.

The SCI finished modestly higher again on Friday following gains from the financial shares, property stocks and resource companies.

For the day, the index gained 16.52 points or 0.55 percent to finish at 3,004.88 after trading between 2,979.97 and 3,009.14.

Among the actives, Industrial and Commercial Bank of China climbed 1.11 percent, while Bank of China advanced 0.88 percent, China Construction Bank collected 0.56 percent, China Merchants Bank added 0.46 percent, Bank of Communications rallied 1.41 percent, China Life rose 0.16 percent, Jiangxi Copper spiked 2.14 percent, Aluminum Corporation of China (Chalco) strengthened 1.15 percent, Yankuang Energy shed 0.66 percent, China Petroleum and Chemical (Sinopec) sank 0.78 percent, Petrochina retreated 1.52 percent, China Shenhua Energy plunged 2.40 percent, Gemdale jumped 1.87 percent, Poly Development perked 0.10 percent, China Vanke gained 0.49 percent, Haitong Securities improved 0.33 percent, Wanhua Chemical Group slumped 1.50 percent and Huaneng Power was unchanged.

The lead from Wall Street is uninspired as the major averages opened solidly higher on Friday but faded as the day progressed, with the NASDAQ finishing in the red.

The Dow added 62.43 points or 0.16 percent to finish at 39,131.53, while the NASDAQ sank 44.78 points or 0.28 percent to close at 15,996.82 and the S&P 500 rose 1.77 points or 0.03 percent to end at 5,088.80.

For the holiday-shortened week, the S&P 500 surged 1.7 percent, the NASDAQ jumped 1.4 percent and the Dow advanced 1.3 percent.

The early upward move reflected an extension of the rally seen in during Thursday's session, which came on the heels of upbeat earnings news from AI darling Nvidia (NVDA).

Buying interest waned shortly after the start of trading, however, as traders took a breather following Thursday's surge.

Crude oil futures settled sharply lower on Friday as concerns about the outlook for demand and the recent data showing a jump in U.S. crude inventories weighed on prices. West Texas Intermediate Crude oil futures for April dropped $2.12 or 2.65 percent at $76.49 a barrel.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, giving up the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,950 level, with weakness in iron ore miners and a mixed performance across most other sectors.

RTTNews | 1時20分前

Asian Markets Track Wall Street Lower

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RTTNews | 1時41分前

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RTTNews | 2時11分前

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2時52分前

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 3時19分前

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 3時22分前

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 3時37分前

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 3時39分前

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