Canadian Market Modestly Higher In Cautious Trade After Inflation Data

RTTNews | 1057 hari yang lalu
Canadian Market Modestly Higher In Cautious Trade After Inflation Data

(RTTNews) - The Canadian market is modestly higher a little past noon on Wednesday, recovering slightly thanks to strong buying in technology and healthcare sectors after a mild setback.

Stocks from the rest of the sectors are turning in a mixed performance amid cautious moves by investors after data showed an acceleration in consumer price inflation in the month of June.

The benchmark S&P/TSX Composite Index is up 29.70 points or 0.16% at 18,967.41. The index touched a low of 18,845.15 earlier in the session.

The Health Care Capped Index is up nearly 7%. Canopy Growth Corp (WEED.TO) is soaring 18.5%. Tilray Inc (TLRY.TO) is climbing 13.5% and Aurora Cannabis (ACB.TO) is surging 11.3%, Cronos Group (CRON.TO) is rising 8.5% and Bausch Health Companies (BHC.TO) is advancing 5.4%.

The Information Technology Capped Index is up 4% with stocks rising sharply, tracking gains in Nasdaq after Netflix's upbeat forecast. Hut 8 Mining (HUT.TO), extending recent gains, is up as much as 9.5%. Lightspeed Commerce (LSPD.TO) is surging 9% and Shopify Inc (SHOP.TO) is moving up 8.7%.

Tecsys (TCS.TO), Dye & Durham (DND.TO), Nuvei Corp (NVEI.TO), Magnet Forensics (MAGT.TO), BlackBerry (BB.TO), Enghouse Systems (ENGH.TO), Constellation Software (CSU.TO), Kinaxis (KXS.TO) and Quarterhill (QTRH.TO) are also up sharply.

Data from Statistics Canada showed the country's annual inflation rate accelerated to 8.1% in June of 2022, the highest since January 1983. However, that was below market expectations of 8.4%.

On a monthly basis, consumer prices rose 0.7%, below expectations of a 0.9% increase and down from the 1.4% jump in May.

Core consumer prices in Canada increased 6.2% in June of 2022 over the same month in the previous year. It is the highest core inflation rate since at least 1984.

Another data from Statistics Canada showed producer prices in Canada fell 1.1% month-over-month in June, following an upwardly revised 1.8% increase in May. It was the first slowdown in producer prices since August of last year. Year-on-year, producer prices rose by 14.3% in June, slowing from a 15.7% jump in the previous month.

The Raw Materials Price Index in Canada edged down 0.1% on a monthly basis in June of 2022, after rising 2.7% in May. Raw materials prices increased 32.4% in June, slowing slightly from a 37.6% increase a month earlier.

read more
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese market is trading notably lower on Thursday, snapping a four-session winning streak, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 38,200 level, with weakness across most sectors led by automakers, exporters and technology stocks. Financial stocks are the only bright spot.
RTTNews | 10 minit yang lalu
Indonesia Bourse May Extend Wednesday's Losses

Indonesia Bourse May Extend Wednesday's Losses

The Indonesia stock market on Wednesday ended the three-day winning streak in which it had gained almost 190 points or 2.7 percent. The Jakarta Composite Index now rests just above the 7,220-point plateau and the losses may accelerate on Thursday.
RTTNews | 18 minit yang lalu
Australian Market Slightly Higher

Australian Market Slightly Higher

The Australian market is trading slightly higher on Thursday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving a tad above the 8,600 level, with gains in gold miners and eergy partially offset by weakness in iron ore miners.
RTTNews | 31 minit yang lalu
Hong Kong Bourse May Hand Back Wednesday's Gains

Hong Kong Bourse May Hand Back Wednesday's Gains

The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of 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 24,360-point plateau and it's likely to remain rangebound on Thursday.
RTTNews | 33 minit yang lalu
Lower Open Anticipated For Taiwan Stock Market

Lower Open Anticipated For Taiwan Stock Market

The Taiwan stock market has moved higher in three straight sessions, accelerating more than 810 points or 3.6 percent along the way. The Taiwan Stock Exchange now sits just above the 22,470-point plateau although it's expected to open under water on Thursday.
RTTNews | 1j 18min yang lalu
Continued Consolidation Called For Singapore Shares

Continued Consolidation Called For Singapore Shares

The Singapore stock market has moved lower in two straight sessions, sinking more than 15 points or 0.4 percent along the way. The Straits Times Index now sits just beneath the 3,920-point plateau and it may take further damage on Thursday.
RTTNews | 1j 48min yang lalu
Renewed Selling Pressure Expected For Malaysia Shares

Renewed Selling Pressure Expected For Malaysia Shares

The Malaysia stock market has alternated between positive and negative finishes through the last four trading days since the end of 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 1,525-point plateau and it's likely to head south again on Thursday.
RTTNews | 2j 18min yang lalu
Japan Stock Market May Run Out Of Steam On Thursday

Japan Stock Market May Run Out Of Steam On Thursday

The Japan stock market has finished higher in four straight sessions, climbing more than 860 points or 2.5 percent along the way. The Nikkei 225 now sits just above the 38,420-point plateau although it's due for consolidation on Thursday.
RTTNews | 2j 33min yang lalu