China Stock Market May Find Traction On Wednesday

RTTNews | 911 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
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 | 13 minit yang lalu
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 | 23 minit yang lalu
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 | 1j 24min yang lalu
CAC 40 Down 0.7% As Tariff Concerns Weigh

CAC 40 Down 0.7% As Tariff Concerns Weigh

French stocks are down in negative territory on Thursday as renewed concerns about tariffs and Middle East tensions weigh on sentiment.
RTTNews | 1j 33min yang lalu
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 | 2j 27min yang lalu
UK Economy Contracts Most Since 2023

UK Economy Contracts Most Since 2023

The UK economy contracted at the fastest pace in 18 months in April as the end of stamp duty holiday, tax hike on businesses and higher US trade tariffs damped the positive momentum seen at the start of the year. Real gross domestic product declined 0.3 percent month-on-month in April, following a growth of 0.2 percent in March, the Office for National Statistics reported Thursday.
RTTNews | 2j 57min yang lalu