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Asian Markets Cheer China's Stimulus

RTTNews | 578 days ago

(RTTNews) - Equity markets in Asia closed on a strong positive note tracking the euphoria generated by China's surprise announcement of a 50-basis points cut in the reserve requirement for banks. The resultant liquidity infusion into the economy is seen supporting a fragile recovery.

China's Shanghai Composite Index surged 3.03 percent to finish trading at 2,906.11. The day's trading ranged between 2,906.79 and 2,821.71. The Shenzhen Component Index also added 2 percent to close at 8,856.22.

The Japanese benchmark Nikkei 225 added 10 points or 0.03 percent to end trading at 36,236.47. The day's trading range was between 36,312.36 and 35,912.54.

DIC Corp was the top gainer with a surge of 5.5 percent followed by Nippon Paper Industries that added 4.9 percent. Mitsubishi Materials Corp, Furukawa Electric and Fuji Electric, all gained more than 3 percent.

Recruit Holdings, Shionogi, Chugai Pharmaceutical, Kikkoman Corp, Suzuki Motor Corp, all slipped more than 2 percent.

The Hang Seng Index of the Hong Kong Stock Exchange added 312 points or 1.96 percent from the previous close to finish trading at 16,211.96. The day's trading range was between a high of 16,254.93 and a low of 15,828.93.

Korean Stock Exchange's Kospi Index edged up 0.03 percent to close trading at 2,470.34. The day's trading range was between 2,452.36 and 2,474.01.

Australia's S&P/ASX200 closed trading at 7,555.40, gaining 36 points or 0.48 percent. The day's trading range was between 7,519.20 and 7,558.80.

Weebit Nano surged 8.8 percent, followed by Mineral Resources that rallied 7.1 percent. Resmed rallied 6.4 percent. Mining business Incitec Pivot and healthcare equipment business Nanosonics, both added more than 4 percent.

Domino's Pizza Enterprises tumbled 31 percent after first-half profits missed estimates. Sayona Mining plunged 9.1 percent. Core Lithium and Block, both slipped more than 5 percent. Homeco Daily Needs REIT erased 4.8 percent.

The NZX 50 of the New Zealand Stock Exchange added 33 points or 0.28 percent to close trading at 11,889.63, versus the previous close of 11,856.61. The index closed near a 6-month high amidst relief at the annual inflation readings touching a more than two-year low. Trading ranged between 11,788.76 and 11,889.63.

Synlait Milk topped gains with a surge of 3.5 percent. NZX, Goodman Property Trust, Precinct Properties NZ, all gained more than 2 percent. Summerset Group Holdings also added close to 2 percent.

Sky Network Television slipped 2.5 percent. Pacific Edge, Fonterra Shareholders Fund, Oceania Healthcare and KMD Brands, all declined more than 1 percent.

Wall Street had closed on a mixed note on Wednesday amidst strong earning updates, especially from the tech sector. Nasdaq Composite added 0.36 percent to close at 15,481.92 whereas the Dow Jones Industrial Average slipped 0.26 percent to finish trading at 37,806.39.

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 | 28 minutes ago

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

RTTNews | 49 minutes ago

Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

RTTNews | 1h 20min ago

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 | 2h 0min ago

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 | 2h 27min ago

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 | 2h 30min ago

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 | 2h 45min ago

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 | 2h 47min ago

EURUSD	1.16255	GBPUSD	1.34516	AUDUSD	0.6473
USDJPY	147.793	USDCAD	1.38582	USDCHF	0.80569