Asian Shares Advance As China Boosts Liquidity Injection

RTTNews | 569 days ago
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
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 3h 5min ago
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 4h 7min ago
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | 4h 31min ago
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 5h 0min ago
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | 5h 31min ago
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | 5h 57min ago
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | 6h 1min ago