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Asian Shares Mixed Ahead Of Fed Meeting

RTTNews | 1049 days ago

(RTTNews) - Asian stocks struggled for direction before ending mixed on Tuesday as investors braced for a busy week of earnings and economic data in the United States.

Fears about economic growth continued to weigh after top U.S. retailer Walmart struck a downbeat tone on the health of the U.S. consumer. Tech heavyweights Apple, Meta, Microsoft and Amazon are due to report their financial results this week.

The dollar held just below multi-decade highs while oil prices rose nearly 2 percent in Asian trade, adding to overnight gains on expectations that Russia's reduction in natural gas supply to Europe could encourage a switch to crude.

The U.S. Federal Reserve is expected to raise rates by 75 basis points on Wednesday, with investors looking for clues about the future pace or rate hikes.

The second quarter GDP figure for the U.S. is scheduled to be released on Thursday and a negative print would mean that the world's largest economy is in a technical recession.

China's Shanghai Composite index rose 0.83 percent to 3,277.44 after reports that government authorities plan to establish a bailout fund for certain property developers.

Hong Kong's Hang Seng index rallied 1.67 percent to 20,905.88. Alibaba Group shares surged 4.8 percent after the world's biggest e-commerce company said it would apply to elevate the status of its Hong Kong-traded shares to make them more accessible to mainland Chinese buyers.

Japanese shares ended lower as the minutes of Bank of Japan's June meeting cited the need to watch the impact of financial and forex market moves on the economy and prices.

The Nikkei average slipped 0.16 percent to 27,655.21 while the broader Topix index closed marginally lower at 1,943.17. Shipping and pharma stocks led losses while heavyweight SoftBank Group jumped 3.2 percent.

Seoul stocks rose modestly to extend gains for a second straight session after data showed GDP growth unexpectedly picked up in the second quarter. The Kospi average edged up 0.39 percent to settle at 2,412.96.

Australian markets ended slightly higher ahead of inflation data due on Wednesday. The benchmark S&P ASX 200 rose 0.26 percent to 6,807.30 while the broader All Ordinaries index closed 0.27 percent higher at 7,025.20.

Mining and energy stocks topped the gainers list on the back of higher iron ore and crude prices.

Across the Tasman, New Zealand's S&P NZX-50 index dropped 0.29 percent to 11,166.56. U.S. stocks ended mixed overnight as investors looked ahead to a busy week of earnings. The tech-heavy Nasdaq Composite shed 0.4 percent, while the Dow edged up 0.3 percent and the S&P 500 inched up 0.1 percent.

FDA, CDC Probe Salmonella Outbreak As Around 1.70 Mln Dozen Brown Eggs Recalled

The U.S. Food and Drug Administration and the Centers for Disease Control and Prevention or CDC are investigating a Salmonella Enteritidis outbreak linked to brown eggs that sickened nearly 79 across 7 states. Associated with the ongoing probe, August Egg Co. recalled around 1.70 million dozen brown cage-free and brown certified organic eggs sold through Walmart and other retail locations.

RTTNews | 3h 13min ago

Bay Street May Open Slightly Higher

Canadian shares may open slightly higher on Monday amid optimism about some positive progress in U.S.-China trade talks. Energy stocks are likely to find some support on higher crude oil prices.. The U.S.-China discussions will aim to resolve some major trade disputes between the two major economies.

RTTNews | 5h 5min ago

FTSE 100 Down Marginally At Noon

The U.K. market is down marginally at noon on Monday with investors mostly making cautious moves amid a lack of triggers. The focus is on trade talks between the U.S. and Chinese officials in London. Weak Chinese exports data weighs on sentiment.

RTTNews | 6h 16min ago

CAC 40 Down Slightly In Lackluster Trade

French stocks are down slightly in lackluster trade on Monday with investors refraining from making significant moves as they await the high-level trade talks between U.S. and Chinese officials in London later in the day.

RTTNews | 6h 38min ago

DAX Down Over 0.5% In Cautious Trade

German stocks are down in negative territory on Monday as investors make cautious moves while awaiting crucial talks between U.S. and Chinese officials in London later in the day. The discussions will aim to resolve some major trade disputes between the two major economies. Treasury Secretary Scott Bessent leads the U.S. delegation in the high-level trade talks.

RTTNews | 6h 58min ago

Sensex, Nifty End Modestly Higher; Banks And Financials Surge

Indian shares eked out modest gains on Monday as top officials from the U.S. and China meet in London later in the day to resolve their differences and ease rare-earth mineral tensions.

RTTNews | 7h 8min ago

Church & Dwight Recalls All Lots Of Zicam Nasal, Orajel Teething Swabs

Church & Dwight Co., Inc. has called back all lots of Zicam nasal swabs and Orajel baby teething swabs citing potential microbial contamination, according to the U.S. Food and Drug Administration. Cold remedy nasal swabs are a zinc-free, homeopathic cold remedy swab designed to shorten the duration of the common cold

RTTNews | 7h 36min ago

European Shares Little Changed Before Sino-US Trade Talks

European stocks were subdued on Monday as top officials from the U.S. and China meet in London later in the day to resolve their differences and ease rare-earth mineral tensions.

RTTNews | 8h 17min ago

EURUSD	1.14241	GBPUSD	1.35579	AUDUSD	0.65224
USDJPY	144.425	USDCAD	1.36745	USDCHF	0.82102