Asian Shares Mixed As China COVID Cases Rise

RTTNews | 923 일 전

(RTTNews) - Asian stocks ended Tuesday's session on a mixed note amid concerns about the fate of China's zero-COVID policy and ahead of U.S. consumer inflation data due on Thursday that could influence the Federal Reserve's rate-hike narrative.

The dollar held steady as Americans head to the polls to determine which party will be in control of the U.S. Congress. Gold slipped on dollar strength while oil prices were little changed as investors weighed supply worries against recession fears.

China's Shanghai Composite index dropped 0.43 percent to 3,064.49 as the country grappled with its worst COVID-19 outbreak since May.

New coronavirus cases surged in Guangzhou and other Chinese cities, preventing the country from stamping out the virus and relaxing controls.

China's foreign exchange reserves rose nearly 0.8 percent in October from the previous month as the U.S. dollar weakened, according to data released by the State Administration of Foreign Exchange.

Hong Kong's Hang Seng index slipped 0.23 percent to 16,557.31, wiping out morning gains.

Japanese shares rallied to close near eight-week highs, with chip-related and other tech stocks leading the surge. The Nikkei average jumped 1.25 percent to 27,872.11, marking its highest close since Sept. 15. The broader Topix index ended 1.21 percent higher at 1,957.56.

Sony, Advantest, Tokyo Electron and Screen Holdings all rose about 3 percent while heavyweight SoftBank Group soared 5 percent.

Toshiba gave up 1.8 percent on a Nikkei report that private equity fund Japan Industrial Partners has submitted a bid to buy the conglomerate for $15 billion that lacks key commitments from banks.

Seoul stocks advanced on hopes of easing Fed policy. The Kospi average climbed 1.15 percent to 2,399.04 - extending gains for a third straight session.

Samsung Electronics, Kakao and Naver jumped 3-5 percent while Posco Chemical and LG Chem lost 1-2 percent.

Australian markets finished modestly higher despite weak readings on consumer sentiment and business confidence. The benchmark S&P ASX 200 rose 0.36 percent to 6,958.90 while the broader All Ordinaries index closed 0.29 percent higher at 7,150.10.

Across the Tasman, New Zealand's benchmark NZX-50 index fell 1.23 percent to 11,151.89 after a central bank survey showed inflation expectations in the country rose across the time curve in the fourth quarter of 2022.

U.S. stocks rose overnight to add to the strong gains posted last Friday as investors looked ahead to congressional mid-term elections on Tuesday and the release of inflation report on Thursday.

The Dow climbed 1.3 percent, the S&P 500 added 1 percent and the tech-heavy Nasdaq Composite rose 0.9 percent.

Thai Downgrades GDP Growth Outlook

Thailand's economy is projected to expand less than the previous estimate this year as trade tariffs are likely to dampen exports in the second half of the year, the National Economic and Social Development Council said Monday. Southeast Asia's second largest economy is forecast to grow in the range of 1.3 percent to 2.3 percent this year. This was down from the previous outlook of 2.3 percent-

RTTNews | 1 시간 42 분 전

European Shares Likely To Drift Lower On Concerns About US Debt

European stocks may open on a sluggish note Monday after Moody's downgraded the U.S. credit rating by one notch to Aa1 from Aaa, citing rising levels of government debt and interest payments.

RTTNews | 2 시간 4 분 전

Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Hayward, California-based Fijian Import & Export Co. Inc. is recalling around 127 pounds of ready-to-eat meat pie products from Australia that were not presented for import reinspection upon entry into the United States, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The recall involves 5.6-oz. plastic packages...

RTTNews | 2 시간 34 분 전

Sensex, Nifty Marginally Lower As IT Stocks Drag

Indian shares were flat to slightly lower on Monday, with IT stocks leading losses after a U.S. credit rating downgrade.

RTTNews | 3 시간 14 분 전

Australian Market Halves Early Losses In Mid-market

The Australian stock market is halving its early losses in mid-market trading on Monday, snapping an eight-session winning streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,300.00 level, with weakness in iron ore miners, energy and financial stocks partially offset by gains in gold miners.

RTTNews | 4 시간 13 분 전

Asian Markets Trade Mostly Lower

Asian stock markets are mostly lower on Monday, following the positive cues from Wall Street on Friday, as traders react to surprise downgrade of the US government's credit rating by one notch to Aa1 by Moody's Ratings, being the last of the three major credit rating agencies to downgrade it. They also react to China announcing anti-dumping duties on plastics from the U.S., EU, Japan and Taiwan.

RTTNews | 4 시간 29 분 전

Sensex, Nifty Seen Lower On US Debt Concerns

Indian shares look set to open lower on Monday as investors fret about the changing geo-political landscape in India's neighborhood as a new bonhomie between Bangladesh, China and Pakistan takes shape silently.

RTTNews | 5 시간 0 분 전

Thai Bourse May Reclaim 1,200-Point Plateau

The Thai stock market has alternated between positive and negative finishes through the last eight trading days since the end of the five-day winning streak in which it had advanced more than 50 points or 4.3 percent. The Stock Exchange of Thailand now sits just above the 1,195-point plateau and it's expected to open to the upside again on Monday.

RTTNews | 5 시간 41 분 전

EURUSD	1.12364	GBPUSD	1.33675	AUDUSD	0.64252
USDJPY	144.745	USDCAD	1.39508	USDCHF	0.83326

Advertisement

Asian Shares Mixed As China COVID Cases Rise