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European Shares Extend Losses On Growth Worries
(RTTNews) - European shares traded lower on Friday, extending steep losses from the previous session after U.S. President Donald Trump announced significantly harsher-than-expected tariffs.
Investors were also reacting to mixed economic readings from Germany and France.
German factory orders stagnated unexpectedly in February even though U.S. importers brought forward imports to beat the impending tariffs, Destaits reported today.
New orders in the manufacturing sector remained unchanged in February, reversing a 5.5 percent drop in January. Orders were forecast to grow 3.4 percent.
Elsewhere, French industrial production grew 0.7 percent month-on-month in February, in contrast to the 0.5 percent decrease in January, figures from the statistical office INSEE showed. Economists had forecast output to grow 0.5 percent.
Likewise, manufacturing output advanced 1.4 percent after a 0.5 percent drop in the previous month.
The pan European STOXX 600 was down nearly 2 percent at 512.84 after tumbling 2.6 percent on Thursday, the biggest daily loss in eight months.
The German DAX fell 1.9 percent, France's CAC 40 shed 1.5 percent and the U.K.'s FTSE 100 declined 1.6 percent.
Miners Anglo American, Antofagasta and Glencore plunged 5-6 percent as copper prices plummeted in London.
BP Plc shares fell 2.8 percent and Shell was down nearly 3 percent as oil prices fell nearly 2 percent today and remained on track for the worst week in months on concerns about a possible recession in the U.S. and other developed countries.
JPMorgan has raised the probability of a global recession this year to 60 percent, from a previous 40 percent.
AstraZeneca declined 1.3 percent, ASM International tumbled 3.5 percent and Infineon Technologies slumped 4.5 percent as U.S. President Trump said tariffs on pharmaceutical and semiconductor imports will be announced soon.
Sodexo SA plunged 4.2 percent after reporting a 3.5 percent rise in half-year revenue.
Gerresheimer plummeted 14 percent after reports said KKR has abandoned a private equity consortium discussing a takeover of the German speciality packaging company.
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Japanese Market Notably Higher
The Japanese stock market is trading notably higher on Tuesday, extending the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 moving up to near the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks were the only weak spot.
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22 minutes ago
Lower Open Anticipated For Indonesia Stock Market
Ahead of the long holiday weekend for Eid-al-Adha, the Indonesia stock market had moved higher in back-to-back sessions, gathering almost 70 points or 1 percent along the way. The Jakarta Composite Index now rests just above the 7,110-point plateau although it's likely to open under pressure on Tuesday.
The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
The JCI finished modestly higher on Thursday following gains from the financials and mixed performances from the resource and cement companies.
For the day, the index added 44.39 points or 0.63 percent to finish at 7,113.42 after trading between 7,083.89 and 7,136.64.
Among the actives, Bank CIMB Niaga sank 0.87 percent, while Bank Mandiri climbed 1.00 percent, Bank Negara Indonesia spiked 2.79 percent, Bank Central Asia shed 0.56 percent, Bank Rakyat Indonesia collected 0.49 percent, Indosat Ooredoo Hutchison added 0.48 percent, Indocement advanced 0.98 percent, Semen Indonesia tumbled 1.79 percent, Indofood Sukses Makmur dropped 0.91 percent, United Tractors perked 0.12 percent, Energi Mega Persada plunged 4.24 percent, Astra Agro Lestari retreated 1.26 percent, Aneka Tambang tanked 2.82 percent, Vale Indonesia plummeted 4.13 percent, Timah rallied 2.07 percent, Bumi Resources soared 2.50 percent and Astra International and Bank Danamon Indonesia were unchanged.
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30 minutes ago
Hong Kong Shares Tipped To Open In The Red On Tuesday
The Hong Kong stock market bounced higher again on Monday, one session after ending the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,180-point plateau although it may hand back those gains on Tuesday.
The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
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45 minutes ago
Australian Market Notably Higher
The Australian stock market is trading notably higher on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,550 level, with gains across most sectors led by technology and energy stocks. Gold miners were the only weak spot.
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50 minutes ago
China Stock Market Due For Consolidation On Tuesday
The China stock market has finished higher in five straight sessions, advancing more than 50 points or 1.5 percent along the way. The Shanghai Composite Index now sits just beneath the 3,400-point plateau although it's expected to open to the downside on Tuesday.
The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
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1h 0min ago
Taiwan Bourse May Hand Back Monday's Gains
The Taiwan stock market found renewed support on Monday, one session after ending the three-day winning streak in which it had jumped almost 680 points or 3.2 percent. The Taiwan Stock Exchange now sits just above the 21,790-point plateau although it may head south again on Tuesday.
The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
The TSE finished modestly higher on Monday following gains from the financial shares, technology stocks and plastics companies.
For the day, the index gained 129.63 points or 0.60 percent to finish at 21,790.29 after trading between 21,717.52 and 21,866.27.
Among the actives, Cathay Financial and CTBC Financial both collected 0.16 percent, while Mega Financial slid 0.25 percent, First Financial gained 0.55 percent, E Sun Financial improved 0.65 percent, Taiwan Semiconductor Manufacturing Company rallied 1.01 percent, United Microelectronics Corporation strengthened 1.44 percent, Hon Hai Precision climbed 0.98 percent, Largan Precision advanced 0.86 percent, Catcher Technology fell 0.24 percent, MediaTek increased 0.39 percent, Delta Electronics added 0.38 percent, Novatek Microelectronics dipped 0.20 percent, Nan Ya Plastics perked 0.17 percent, Asia Cement rose 0.24 percent and Formosa Plastics and Fubon Financial were unchanged.
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1h 30min ago
Singapore Shares May See Profit Taking On Tuesday
The Singapore stock market has climbed higher in five straight sessions, collecting more than 40 points or 1 percent along the way. The Straits Times Index now sits just above the 3,935-point plateau although it may be due for consolidation on Tuesday.
The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
The STI finished barely higher on Monday following gains from the retailers and mixed performances from the financial shares, property stocks and industrial issues.
For the day, the index was up 2.03 points or 0.05 percent to finish at 3,936.32 after trading between 3,930.76 and 3,945.92.
Among the actives, CapitaLand Ascendas REIT and CapitaLand Investment both declined 0.39 percent, while CapitaLand Integrated Commercial Trust lost 0.47 percent, City Developments stumbled 1.14 percent, Comfort DelGro improved 0.71 percent, DBS Group advanced 0.82 percent, DFI Retail surged 5.26 percent, Hongkong Land added 0.37 percent, Keppel DC REIT fell 0.45 percent, Keppel Ltd dropped 0.70 percent, Oversea-Chinese Banking Corporation collected 0.55 percent, SATS shed 0.64 percent, SembCorp Industries retreated 0.88 percent, Singapore Technologies Engineering tumbled 1.01 percent, SingTel slumped 0.77 percent, Yangzijiang Financial sank 0.68 percent, Yangzijiang Shipbuilding was down 0.44 percent and Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, Genting Singapore, Thai Beverage, Wilmar International, Seatrium Limited and Frasers Logistics & Commercial Trust were unchanged.
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2h 0min ago
Malaysia Shares Likely To Remain Rangebound
The Malaysia stock market ticked higher again on Monday, one session after snapping the two-day winning streak in which it had gained almost 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,520-point plateau and it's expected to remain in that neighborhood again on Tuesday.
The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
The KLCI finished slightly higher on Monday following gains from the plantation stocks and mixed performances from the financials and telecoms.
For the day, the index perked 2.62 points or 0.17 percent to finish at 1,519.41 after trading between 1,518.03 and 1,521.64.
Among the actives, 99 Speed Mart Retail rose 0.48 percent, while Axiata increased 0.50 percent, Celcomdigi shed 0.52 percent, CIMB Group advanced 0.73 percent, Gamuda stumbled 1.47 percent, Hong Leong Financial eased 0.12 percent, IHH Healthcare added 0.58 percent, IOI Corporation perked 0.27 percent, Maxis slumped 0.83 percent, Maybank dipped 0.21 percent, MISC spiked 1.32 percent, Nestle Malaysia tumbled 1.79 percent, Petronas Chemicals soared 3.08 percent, Petronas Dagangan retreated 1.71 percent, Petronas Gas fell 0.22 percent, PPB Group rallied 1.10 percent, Press Metal climbed 0.81 percent, QL Resources surged 3.66 percent, RHB Bank collected 0.16 percent, Sime Darby sank 0.56 percent, SD Guthrie gathered 0.44 percent, Sunway improved 0.62 percent, Telekom Malaysia dropped 0.61 percent, Tenaga Nasional gained 0.56 percent, YTL Corporation declined 1.46 percent, YTL Power lost 0.28 percent and Kuala Lumpur Kepong, MRDIY and Public Bank were unchanged.
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2h 30min ago
