China Stock Market May Find Traction On Wednesday

RTTNews | 910 hari yang lalu
China Stock Market May Find Traction On Wednesday

(RTTNews) - The China stock market headed has finished lower in two straight sessions, sinking more than 30 points or 1 percent along the way. The Shanghai Composite Index now rests just above the 3,175-point plateau although it's likely to open higher on Wednesday.

The global forecast for the Asian markets is positive ahead of the Federal Reserve's monetary policy announcement later today. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The SCI finished barely lower on Tuesday following mixed performances from the property and resource stocks, while the financials offered support.

For the day, the index dipped 2.72 points or 0.09 percent to finish at 3,176.33 after trading between 3,171.48 and 3,187.20. The Shenzhen Composite Index lost 11.50 points or 0.56 percent to end at 2,050.37.

Among the actives, Industrial and Commercial Bank of China improved 0.70 percent, while Bank of China advanced 0.96 percent, China Construction Bank strengthened 1.62 percent, China Merchants Bank climbed 0.98 percent, Bank of Communications collected 0.42 percent, China Life Insurance rose 0.31 percent, Jiangxi Copper gathered 1.15 percent, Aluminum Corp of China (Chalco) dipped 0.21 percent, Yankuang Energy jumped 1.83 percent, PetroChina perked 0.20 percent, Huaneng Power added 0.59 percent, China Shenhua Energy gained 0.77 percent, Gemdale skidded 1.15 percent, Poly Developments rallied 1.33 percent, China Vanke was up 0.15 percent, Beijing Capital Development sank 1.00 percent and China Petroleum and Chemical (Sinopec) was unchanged.

The lead from Wall Street is upbeat as the major averages opened sharply higher on Tuesday, faded as the day progressed but still finished in the green.

The Dow climbed 103.60 points or 0.30 percent to finish at 34,108.64, while the NASDAQ jumped 113.08 points or 1.01 percent to close at 11,256.81 and the S&P 500 gained 29.09 points or 0.73 percent to end at 4,019.65.

The early rally on Wall Street followed the release of a Labor Department report showing consumer prices in the U.S. inched up less than expected in November.

Buying interest waned over the course of the morning, however, as traders seemed reluctant to make significant beats ahead of the Fed's rate decision later today. The Fed is widely expected to raise interest rate by another 50 basis points, with traders likely to pay close attention to the accompanying statement for clues about the outlook for future rate hikes.

Crude oil prices rose sharply on Tuesday due to concerns about supply disruptions amid the ongoing shutdown of the Keystone pipeline following a massive leak last week, while a weak dollar also supported oil prices. West Texas Intermediate Crude oil futures for January ended higher by $2.22 or 3 percent at $75.39 a barrel.

Closer to home, China will provide November numbers for foreign direct investment later today; in October, FDI was up 14.4 percent on year.

read more
European Shares Seen Tad Lower At Open

European Shares Seen Tad Lower At Open

European stocks may drift lower on Wednesday as market participants assess the outcome of U.S.-China trade negotiations.
RTTNews | 40 minit yang lalu
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 1j 51min yang lalu
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 2j 52min yang lalu
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | 3j 17min yang lalu
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 3j 46min yang lalu
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | 4j 17min yang lalu
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | 4j 43min yang lalu
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | 4j 47min yang lalu