Asian Shares Decline After Mixed China Data

RTTNews | 657 일 전

(RTTNews) - Asian stocks declined on Tuesday, with a resurgence in U.S, Treasury yields and mixed China data weighing on investor sentiment.

The dollar bounced back amidst signs of an ease off in geopolitical tensions after Israel said it would consider "tactical little pauses" in fighting to allow the entry of aid or the exit of hostages from the Gaza Strip.

Bond yields steadied after climbing overnight as Minneapolis Federal Reserve Bank President Neel Kashkari said he's not convinced rate hikes are over.

Gold nursed losses while oil prices were down over 1 percent in Asian trading.

China's Shanghai Composite index recouped early losses to finish marginally lower at 3,057.27 as October trade data painted a mixed picture of the world's second largest economy. Hong Kong's Hang Seng index fell 1.65 percent to 17,670.16.

China's exports shrank 6.4 percent year-on-year in October, while imports unexpectedly grew 3.0 percent to snap 11 straight months of decline, official data showed in a sign that recovery in the world's second-largest economy remains uneven despite a series of government stimulus measures.

Japanese shares fell sharply as investors booked profit after recent string of gains. The Nikkei average dropped 1.34 percent to 32,271.82, snapping a four-session winning streak after having hit over a one-month high the previous day. The broader Topix index settled 1.17 percent lower at 2,332.91.

Tech stocks such as Advantest and Tokyo Electron gave up 1-2 percent while Uniqlo brand owner Fast Retailing lost about 1 percent.

Food maker Ajinomoto plunged 10.2 percent despite raising its annual net profit forecast. Machinery maker Hitachi Zosen rallied 4.3 percent after lifting its annual profit forecast.

South Korea's Kospi average tumbled 2.33 percent to close at 2,443.96 after rallying by the most in over three years on Monday due to the reimposition of a ban on short selling.

Australian markets finished modestly lower after the Reserve Bank of Australia lifted the official cash rate by 25 bps to 4.35 percent, as widely expected, in its bid to control persisting inflation.

The benchmark S&P/ASX 200 slipped 0.29 percent to 6,977.10 while the broader All Ordinaries index closed 0.22 percent lower at 7,176.60.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index ended down 0.33 percent at 11,223.86.

U.S. stocks eked out modest gains overnight after last week's strong rally on hopes the Fed is done with its monetary tightening.

The tech-heavy Nasdaq Composite inched up 0.3 percent to notch seven days of gains for the first time since January while the Dow and the S&P 500 edged up 0.1 percent and 0.2 percent respectively to extend gains for a sixth day.

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains 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 | 37 분 전

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside 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 | 1 시간 7 분 전

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral 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. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | 1 시간 22 분 전

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation 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 | 1 시간 37 분 전