Asian Shares Gain As Commodities Decline On Growth Worries

RTTNews | 1235 hari yang lalu

(RTTNews) - Asian stocks found some support on Friday as a continuous decline in commodities from crude oil, to metals to cotton, helped ease fears around runaway inflation. The U.S. dollar slipped from recent highs, bond yields mostly fell and gold held steady while oil extended recent losses on concerns over a slowdown in fuel demand.

China's Shanghai Composite index closed 0.89 percent higher at 3,349.75 amid signs that the technology crackdown is softening. Hong Kong's Hang Seng index rallied 2.09 percent to 21,719.06 after China vowed more pro-growth policies.

Japanese shares advanced as tech stocks tracked overnight gains on Wall Street. The Nikkei average jumped 1.23 percent to 26,491.97 while the broader Topix index closed 0.81 percent higher at 1,866.72.

Chip-making equipment maker Tokyo Electron surged 4 percent, Advantest rallied 3.5 percent and Screen Holdings added 2.7 percent. Pharmaceutical company Shionogi & Co soared 5 percent on share buyback news.

The battered yen found some support after Japan's annual core consumer inflation topped the central bank's target for a second straight month in May but wage growth was subdued, casting doubt over the sustainability of cost-push inflation.

Seoul stocks rose sharply, a day after hitting a 19-month low on growing concerns about a recession. The Kospi average climbed 2.26 percent to settle at 2,366.60 as institutional investors bought beaten-down tech stocks.

Samsung Electronics rose 1.7 percent, SK Hynix gained 1.6 percent and Naver surged 5.8 percent.

Australian markets ended notably higher, helped by gains in technology stocks as commodity-related energy and mining stocks fell on recession concerns.

Buy now, pay later firm Zip Co jumped 21.6 percent and rival Block Inc climbed nearly 11 percent. Qantas Airways dropped 1.6 percent after slashing domestic flight schedules through March 2023.

The benchmark S&P/ASX 200 index rose 0.77 percent to 6,578.70 while the broader All Ordinaries index closed 1.06 percent higher at 6,762.40. New Zealand's stock market was closed for a public holiday.

U.S. stocks posted solid gains overnight and U.S. Treasury yields hit two-week lows as commodity prices continued to ease on worries about a possible global recession.

The Dow rose 0.6 percent, the tech-heavy Nasdaq Composite climbed 1.6 percent and the S&P 500 added 1 percent.

Australian Market Slips To Losses In Mid-market

The Australian stock market is slipping in to the red in mid-market trading on Tuesday after early gains, reversing some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,850 level, with weakness in financial and technology stocks partially offset by gains in mining and energy stocks.

RTTNews | 1j 2min yang lalu

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders react to further progress made towards ending the US government shutdown, with the US Senate commencing a series of votes on a package to reopen the government and end the longest shutdown on record. Asian markets closed mostly higher on Monday.

RTTNews | 1j 22min yang lalu

Sensex, Nifty Seen Opening Higher On Trade Deal Hopes

Indian shares look set to open on a positive note Tuesday after U.S. President Donald Trump indicated he would reduce the tariff rate on Indian goods "at some point," and that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.

RTTNews | 1j 54min yang lalu

Thai Shares Expected To Open To The Upside On Tuesday

The Thai stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,305-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | 2j 25min yang lalu

Rebound Tipped For Indonesia Stock Market

The Indonesia stock market on Monday snapped the three-day winning streak in which it had gained almost 160 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,390-point plateau although it's expected to see renewed support on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The JCI finished slightly lower on Monday as losses from the financials and telecoms were mitigated by support from the resource stocks and a mixed picture from the cement companies. For the day, the index eased 3.35 points or 0.04 percent to finish at the daily low of 8,391.24 after peaking at 8,478.15. Among the actives, Bank CIMB Niaga shed 0.57 percent, while Bank Mandiri fell 0.42 percent, Bank Danamon Indonesia collected 0.40 percent, Bank Negara Indonesia tumbled 1.78 percent, Bank Central Asia skidded 1.15 percent, Bank Rakyat Indonesia slumped 1.26 percent, Indosat Ooredoo Hutchison plunged 3.72 percent, Indocement improved 0.78 percent, Semen Indonesia plummeted 4.17 percent, Indofood Sukses Makmur slipped 0.35 percent, United Tractors rallied 1.36 percent, Energi Mega Persada surged 4.60 percent, Astra Agro Lestari dropped 0.96 percent, Aneka Tambang rose 0.34 percent, Vale Indonesia eased 0.22 percent, Timah soared 6.85 percent, Bumi Resources spiked 6.38 percent and Astra International was unchanged. The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

RTTNews | 2j 55min yang lalu

Japanese Market Significantly Higher

The Japanese stock market is trading significantly higher on Tuesday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 51,350 level, with gains in index heavyweights, financial and technology and stocks.

RTTNews | 3j 9min yang lalu

Higher Open Predicted For Hong Kong Stock Market

The Hong Kong stock market has moved higher in two of three trading days since the end of the two-day slide in which it had dropped more than 220 points or 0.8 percent. The Hang Seng Index now rests just beneath the 26,650-point plateau and it's expected to open to the upside again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | 3j 10min yang lalu

Additional Support Likely For China Stock Market

The China stock market bounced higher again on Monday, one session after halting the two-day winning streak in which it had advanced more than 45 points or 1.1 percent. The Shanghai Composite Index now sits just beneath the 4,020-point plateau The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The SCI finished modestly higher on Monday following gains from the financial shares, property stocks and resource companies. For the day, the index gained 21.04 points or 0.53 percent to finish at 4,018.60 after trading between 3,990.84 and 4,018.70. The Shenzhen Composite Index added 10.15 points or 0.40 percent to end at 2,529.44. Among the actives, Industrial and Commercial Bank of China advanced 0.87 percent, while Bank of China rose 0.35 percent, Agricultural Bank of China rallied 2.12 percent, China Merchants Bank added 0.49 percent, Bank of Communications collected 0.82 percent, China Life Insurance jumped 1.95 percent, Jiangxi Copper improved 0.95 percent, Aluminum Corp of China (Chalco) soared 3.26 percent, Yankuang Energy vaulted 1.88 percent, PetroChina strengthened 1.65 percent, China Petroleum and Chemical (Sinopec) fell 0.27 percent, Huaneng Power perked 0.24 percent, China Shenhua Energy gained 0.94 percent, Gemdale spiked 2.33 percent, Poly Developments increased 1.25 percent and China Vanke climbed 1.29 percent.

RTTNews | 3j 25min yang lalu

EURUSD	1.15577	GBPUSD	1.31683	AUDUSD	0.65281
USDJPY	154.244	USDCAD	1.40325	USDCHF	0.80491