Asian Shares Advance As China Boosts Liquidity Injection

RTTNews | 570 일 전
Asian Shares Advance As China Boosts Liquidity Injection

(RTTNews) - Asian stocks rose on Monday amid bets that global central banks will start cutting interest rates next year to support uneven economic recovery.

The upside, however, remained capped ahead of key quarterly earnings from NVIDIA Corporation and the release of the Federal Reserve's minutes from its November meeting due this week.

The dollar held below over two-month lows and gold was unhanged while oil extended Friday's rally on expectations of production cuts by Saudi Arabia and Russia in the coming days.

China's Shanghai Composite index rose 0.46 percent to 3,068.32 after the country's central bank kept its loan prime rate near record lows, as widely expected, and also added liquidity into markets via reverse repos.

Property stocks rebounded after China's central bank and financial regulators pledged on Friday to ensure financing support for the beleaguered real estate sector.

Hong Kong's Hang Seng index jumped 1.86 percent to 17,778.07 after two days of steep losses.

Japanese shares reversed course to end lower, dragged down by automakers and chip-related stocks.

The Nikkei average briefly hit a 33-year high before ending down 0.59 percent at 33,388.03 due to profit taking after recent strong gains.

The broader Topix index settled 0.77 percent lower at 2,372.60. Honda Motor and Toyota both fell around 4 percent amid the yen's gains against the dollar.

Semiconductor test equipment supplier Advantest dropped 1.6 percent and Tokyo Electron declined 0.9 percent.

Panasonic Holdings jumped 5 percent to extend Friday's rally after announcing a sale of a stake in its automotive systems business.

Casualty insurer Tokio Marine Holdings surged 5.6 percent on share buyback news.

Seoul stocks advanced, with the Kospi average finishing 0.86 percent higher at 2,491.20. SK Hynix, which supplies memory chips, gained 1.2 percent.

Australian markets ended slightly higher as investors awaited the release of minutes of the Reserve Bank of Australia's November meeting on Tuesday for clues on the central bank's policy stance.

The benchmark S&P ASX 200 edged up 0.13 percent to 7,058.40, led by banks and energy stocks. The broader All Ordinaries index closed 0.11 percent higher at 7,268.70.

Across the Tasman, New Zealand's benchmark S&P NZX-50 index closed up 0.27 percent at 11,207.46.

U.S. stocks finished slightly higher on Friday as bond yields fell further on dovish Fed expectations. In economic news, reports on housing starts and building permits painted a positive picture of the world's largest economy.

The S&P 500 inched up 0.1 percent to clinch a third straight winning week and reach its best closing level in well over two months. The Dow and the tech-heavy Nasdaq Composite both saw marginal gains.

read more
Taiwan Shares May Bounce Higher Again On Friday

Taiwan Shares May Bounce Higher Again On Friday

The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
RTTNews | 11 분 전
Rebound Anticipated For Japan Stock Market

Rebound Anticipated For Japan Stock Market

The Japan stock market on Thursday ended the four-day winning streak in which it had climbed more than 860 points or 2.5 percent. The Nikkei 225 now sits just beneath the 38,175-point plateau although it may bounce higher again on Friday.
RTTNews | 12 분 전
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | 3 시간 27 분 전
Canadian Market Up Slightly In Cautious Trade

Canadian Market Up Slightly In Cautious Trade

After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors. The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
RTTNews | 5 시간 11 분 전
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 7 시간 58 분 전
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 8 시간 2 분 전
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | 8 시간 45 분 전
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 9 시간 11 분 전