Asian Shares Muted Before Trump's New Tariff Announcement

RTTNews | 71 hari yang lalu
Asian Shares Muted Before Trump's New Tariff Announcement

(RTTNews) - Asian stocks ended on a muted note on Wednesday as caution prevailed ahead of U.S. President Donald Trump's sweeping tariffs announcement expected later in the day.

Treasury yields advanced after a multi-day drop and the dollar held steady, pushing gold prices down from new record highs reached earlier this week.

Oil extended losses on concerns that new U.S. tariffs may drag on global growth and weigh on fuel demand.

China's Shanghai Composite finished marginally higher at 3,350.13 after a choppy session. Hong Kong's Hang Seng index gave up early gains to end marginally down at 23,202.53.

Japanese markets ended slightly higher after a choppy session. The Nikkei average rose 0.28 percent to 35,725.87 while the broader Topix index settled 0.43 percent lower at 2,650.29.

Uniqlo-owner Fast Retailing rallied 3.7 percent and chip-testing equipment maker Advantest climbed 2.6 percent while energy stocks tracked crude prices lower.

Seoul stocks fell notably, with the Kospi average ending down 0.62 percent at 2,505.86. Hyundai Motor, Hyundai Steel and Posco Holdings gave up 1-3 percent.

Australian markets edged up slightly, with property developers, financials and technology stocks pacing the gainers. Mining and energy stocks fell, limiting overall gains in the broader market.

The benchmark S&P/ASX 200 ended up 0.12 percent at 7,934.50 while the broader All Ordinaries index finished marginally higher at 8,133.10.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index ended flat with a positive bias at 12,320.19.

U.S. stocks fluctuated before finishing higher overnight ahead of the impending tariff announcements, with the Washington Post noting that White House aides have drafted a proposal to impose tariffs of around 20 percent on most imports to the United States, but several options are on the table.

Investors shrugged off data that showed activity in the U.S. manufacturing sector contracted in March after two consecutive months of expansion.

Job openings fell in February, but layoffs remained subdued, adding to evidence of a gradually cooling labor market.

The tech-heavy Nasdaq Composite surged 0.9 percent and the S&P 500 rose 0.4 percent after hitting six-month intraday lows on Monday. The Dow finished marginally lower.

read more
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | 38 minit yang lalu
Canadian Market Up Slightly In Cautious Trade

Canadian Market Up Slightly In Cautious Trade

After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors. The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
RTTNews | 2j 22min yang lalu
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

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. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 5j 9min yang lalu
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 5j 12min yang lalu
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | 5j 56min yang lalu
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 | 6j 22min yang lalu
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 | 6j 41min yang lalu