Japan Shares Tipped To Open Under Pressure

RTTNews | 66 days ago
Japan Shares Tipped To Open Under Pressure

(RTTNews) - The Japanese stock market has finished lower in back-to-back sessions, tumbling almost 1,950 points or 5.5 percent along the way. The Nikkei 225 now rests just above the 33,780-point plateau and it may take further damage on Monday.

The global forecast for the Asian markets is broadly negative on trade war concerns after China announced retaliatory tariffs on U.S. goods in reaction to President Donald Trump's new levies. The European and U.S. markets were sharply lower and the Asian bourses are also expected to open under pressure.

The Nikkei finished sharply lower again on Friday with damage across the board, especially among the financial shares, technology stocks and automobile producers.

For the day, the index plummeted 955.35 points or 2.75 percent to finish at 33,780.58 after trading between 33,259.76 and 34,320.11.

Among the actives, Nissan Motor dropped 5.51 percent, while Mazda Motor sank 5.98 percent, Toyota Motor retreated 4.41 percent, Honda Motor surrendered 5.45 percent, Softbank Group crashed 7.19 percent, Mitsubishi UFJ Financial plummeted 8.48 percent, Mizuho Financial cratered 11.24 percent, Sumitomo Mitsui Financial plunged 8.03 percent, Mitsubishi Electric declined 4.55 percent, Sony Group tumbled 4.76 percent, Panasonic Holdings slumped 4.07 percent and Hitachi stumbled 5.83 percent.

The lead from Wall Street remains brutal as the major averages opened with heavy losses and remained deep in the red throughout the session.

The Dow plummeted 2,231.07 points or 5.50 percent to finish at 38,314.86, while the NASDAQ tumbled 962.82 points or 5.82 percent to close at 15,587.79 and the S&P 500 plunged 322.44 points or 5.97 percent to end at 5,074.08.

The extended nosedive on Wall Street came amid ongoing concerns about a global trade war, triggered by the tariff polices Trump announced last week.

China announced a 34 percent tariff will be imposed on all imported goods from the U.S. as of April 10, while Canada and the European Union are also preparing countermeasures.

Federal Reserve Chair Jerome Powell said in remarks that the tariff increases will be significantly larger than expected and the same is likely to be true of the economic effects, which will include higher inflation and slower growth.

Crude oil prices showed another substantial move to the downside on Friday on continuing concerns about the impact a global trade war will have on fuel demand. West Texas Intermediate for May delivery plunged $4.95 or 7.4 percent to $62 a barrel, a three-year low.

Closer to home, Japan will see preliminary February results for its leading and coincident indexes; in January, the leading index was up 0.4 percent on month, while the coincident was up 0.1 percent.

read more
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 33 minutes ago
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
RTTNews | 52 minutes ago
FTSE 100 Recovers After Weak Start, Up Marginally

FTSE 100 Recovers After Weak Start, Up Marginally

After opening on a negative note amid trade tensions and data showing a contraction in the nation's GDP growth in April, U.K. stocks recovered some lost ground on Thursday. Still, amid uncertainty about China and the U.S. agreeing on a concrete trade deal anytime soon, and lingering concerns about the European Union finalizing a trade deal before the July 8 deadline, the mood in the market remain
RTTNews | 1h 3min ago
GameStop Shares Plunge After Plan To Raise $1.75 Bln

GameStop Shares Plunge After Plan To Raise $1.75 Bln

Shares of GameStop Corp. plunged around 11 percent in the extended trading on Wednesday and are currently trading 13 percent lower in the pre-market activity on the NYSE, after the company announced plan to raise $1.75 billion again in private offering, probably for Bitcoin purchase. GameStop's shares had declined sharply in March after the firm announced a $1.3 billion private offering.
RTTNews | 2h 4min ago
DAX Down Sharply As Trade Concerns, Middle East Tensions Hurt Sentiment

DAX Down Sharply As Trade Concerns, Middle East Tensions Hurt Sentiment

German stocks are notably lower on Thursday, weighed down by trade tensions and escalating tensions in the Middle East. Amid a lack of specifics in the much talked about framework agreement, it is feared that the U.S.-China trade tensions may not subside any significantly for now.
RTTNews | 3h 6min ago