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Asian Shares Rise On Strong US Data, China Stimulus

RTTNews | 711 days ago

(RTTNews) - Asian stocks traded higher on Friday as strong U.S. economic data and more stimulus measures from major importer China helped ease concerns around global growth.

The dollar retained overnight gains while crude prices held near their highest level since early-November 2022 after China cut banks' cash requirements to release more liquidity into the Chinese economy and potentially shore up economic growth.

China's Shanghai Composite index was down 0.2 percent despite China's industrial output and retail sales figures for August coming in above expectations. Hong Kong's Hang Seng index was up 0.3 percent.

Japan's Nikkei average jumped 1.3 percent after the release of strong U.S. economic data and bets that the European Central Bank is done with rate hikes.

South Korea's Kospi average climbed nearly 1 percent while Australia's S&P ASX 200 jumped 1.6 percent, led by miners.

Across the Tasman, New Zealand's benchmark S&P NZX-50 index was marginally higher. U.S. stocks posted strong gains overnight as investors cheered better-than-expected retail sales data and the blowout debut of chip designer Arm.

A batch of economic data showed an uptick for producer price inflation, solid retail sales and an uptick in weekly jobless claims.

The Dow gained 1 percent to notch its biggest gain in a month, while the tech-heavy Nasdaq Composite and the S&P 500 both rose around 0.8 percent.

European stocks rose sharply on Thursday after the European Central Bank (ECB) piled on a 10th straight interest-rate increase but signaled a potential end to its rate-hike campaign aimed at curbing inflation.

The pan European STOXX 600 advanced 1.5 percent. The German DAX rallied 1 percent, France's CAC 40 jumped 1.2 percent and the U.K.'s FTSE 100 soared 2 percent.

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 | 49 minutes 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 | 1h 16min 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 | 1h 19min 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 | 1h 34min 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 | 1h 36min ago

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | 1h 49min ago

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected 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. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | 2h 19min ago

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains 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 48min ago

EURUSD	1.16331	GBPUSD	1.34626	AUDUSD	0.64804
USDJPY	147.597	USDCAD	1.38503	USDCHF	0.8049