China Shares Likely Rangebound On Thursday

RTTNews | 67 일 전

(RTTNews) - The China stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had collected almost 20 points or 0.6 percent. The Shanghai Composite Index now sits just shy of the 3,390-point plateau and it's expected to see little movement on Thursday.

The global forecast for the Asian markets is murky, as investors wait to see if there's any slowdown in the Iran/Israel conflict. The European and U.S. markets were mixed and little changed and the Asian markets figure to follow that lead.

The SCI finished barely higher on Wednesday as gains from the financial shares were offset by weakness from the property sector and a mixed picture from the resource stocks.

For the day, the index perked 1.40 points or 0.04 percent to finish at 3,388.81 after trading between 3,369.99 and 3,391.71. The Shenzhen Composite Index rose 0.58 points or 0.03 percent to end at 2,011.10.

Among the actives, Industrial and Commercial Bank of China climbed 1.12 percent, while Bank of China rallied 2.42 percent, Agricultural Bank of China strengthened 1.60 percent, China Merchants Bank fell 0.28 percent, Bank of Communications collected 0.39 percent, China Life Insurance tumbled 1.79 percent, Jiangxi Copper dipped 0.27 percent, Aluminum Corp of China (Chalco) eased 0.14 percent, Yankuang Energy retreated 1.76 percent, China Petroleum and Chemical (Sinopec) skidded 1.03 percent, China Shenhua Energy sank 0.71 percent, Gemdale dropped 0.80 percent, Poly Developments declined 1.35 percent, China Vanke slumped 1.38 percent and PetroChina and Huaneng Power were unchanged.

The lead from Wall Street offers little clarity as the major averages spent most of Wednesday's trade in positive territory before turning lower and ending mixed and little changed.

The Dow shed 44.14 points or 0.10 percent to finish at 42,171.66, while the NASDAQ rose 25.18 points or 0.13 percent to close at 19,546.27 and the S&P 500 eased 1.85 points or 0.03 percent to end at 5,980.87.

The lackluster day on Wall Street came after the Federal Reserve announced its widely expected decision to leave interest rates unchanged. Fed officials still seem to expect to two interest rate cuts this year, lowering the rate to a range of 4.0 percent to 3.75 percent by the end of 2025.

In economic news, the Labor Department said first-time claims for U.S. jobless benefits edged modestly lower last week. Also, the Commerce Department saw a steep drop by new residential construction in the U.S. in the month of May.

Crude oil price ticked higher on Wednesday as the Israel-Iran conflict, which began with Israeli airstrikes on June 12, entered the sixth straight day with casualties increasing on both sides. West Texas Intermediate crude for July delivery rose by $0.30 to settle at $75.15 per barrel.

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 | 39 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 | 54 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 9 분 전