Asian Markets Mostly Lower Amid Cautious Trades

RTTNews | 654 days ago
Asian Markets Mostly Lower Amid Cautious Trades

(RTTNews) - Despite the broadly positive cues from Wall Street overnight, Asian stock markets are trading mostly lower, as traders remain cautious and await inflation data from across the region for directional cues. Inflation data from Singapore, Australia and Japan's Tokyo region are due later this week. The strength of the US dollar against major currencies in the region also weighed mostly lower on the markets. Asian markets closed mixed on Monday.

After ending with slight gains in the previous two sessions, the Australian stock market is notably lower on Tuesday, with the benchmark S&P/ASX 200 staying below the 7,100 level, despite the broadly positive cues from Wall Street overnight, with weakness across most sectors led by mining and technology stocks. Traders also cautiously await domestic inflation data due on Wednesday.

The benchmark S&P/ASX 200 Index is losing 50.70 points or 0.72 percent to 7,025.80, after hitting a low of 7,023.80 earlier. The broader All Ordinaries Index is down 50.60 points or 0.70 percent to 7,247.80. Australian stocks closed slightly higher on Monday.

Among the major miners, BHP Group and Fortescue Metals are losing more than 1 percent each, while Rio Tinto is down almost 1 percent. Mineral Resources is edging up 0.3 percent. Oil stocks are mostly lower. Santos, Origin Energy and Woodside Energy are edging down 0.2 to 0.4 percent each, while Beach energy is flat. Among tech stocks, Xero is slipping almost 1 percent, WiseTech Global is losing almost 2 percent and Zip is declining more than 1 percent. Afterpay owner Block and Appen are flat. Gold miners are mostly lower. Northern Star resources and Newcrest Mining are losing more than 1 percent each, while Evolution Mining and Gold Road Resources are down almost 1 percent each. Resolute Mining is adding almost 1 percent. Among the big four banks, National Australia Bank, Commonwealth Bank and ANZ Banking are edging down 0.2 to 0.4 percent each, while Westpac is losing almost 1 percent.

In other news, shares in Pro Medicus are surging almost 10 percent after the imaging company won a $140 million contract with US-based Baylor Scott & White Health.

In the currency market, the Aussie dollar is trading at $0.642 on Tuesday.

Paring the gains in the previous session, the Japanese stock market is significantly lower on Tuesday, with the Nikkei 225 falling below the 32,400 level, despite the broadly positive cues from Wall Street overnight, with losses across most sectors, led by technology stocks. Financial stocks were the only bright spot.

The benchmark Nikkei 225 Index closed the morning session at 32,379.85, down 298.77 points or 0.91 percent, after hitting a low of 32,366.23 earlier. Japanese shares ended significantly higher on Monday.

Market heavyweight SoftBank Group is edging down 0.4 percent and Uniqlo operator Fast Retailing is losing almost 1 percent. Among automakers, Honda is edging down 0.1 percent and Toyota is declining more than 1 percent.

In the tech space, Advantest is losing almost 2 percent, while Screen Holdings and Tokyo Electron are declining almost 3 percent each.

In the banking sector, Sumitomo Mitsui Financial is gaining almost 2 percent, Mitsubishi UFJ Financial is adding almost 1 percent and Mizuho Financial are edging up 0.5 percent.

The major exporters are mostly lower. Canon and Sony are losing almost 1 percent each, while Panasonic is declining more than 1 percent. Mitsubishi Electric is edging up 0.2 percent.

Among the other major lowers, Eisai is losing more than 4 percent and Daiichi Sankyo is slipping almost 4 percent, while NTT Data and NEXON are declining almost 3 percent each.

Conversely, Japan Exchange Group and T&D Holdings are gaining more than 3 percent each.

In the currency market, the U.S. dollar is trading in the higher 148 yen-range on Tuesday.

Elsewhere in Asia, South Korea is down 1.3 percent, while New Zealand, China, Hong Kong, Singapore, Malaysia, Taiwan and Indonesia are lower by between 0.1and 0.8 percent each.

On Wall Street, stocks showed a lack of direction over the course of the trading session on Monday following the sell-off seen last week. The major averages spent the day bouncing back and forth across the unchanged line before closing in positive territory.

The major averages moved to the upside going into the close of trading. The Nasdaq climbed 59.51 points or 0.5 percent to 13,271.32, the S&P 500 rose 17.38 points or 0.4 percent to 4,337.44 and the Dow inched up 43.04 points or 0.1 percent to 34,006.88.

Meanwhile, the major European markets all moved to the downside on the day. While the German DAX Index slumped 1.0 percent, the French CAC 40 Index slid by 0.9 percent and the U.K.'s FTSE 100 Index fell by 0.8 percent.

Crude oil prices settled lower on Monday, as concerns about energy demand and interest rates offset optimism about a tighter supply outlook. West Texas Intermediate Crude oil futures for November ended down $0.35 or about 0.4 percent at $89.68 a barrel.

read more
Australian Market Slips To Modest Losses In Mid-market

Australian Market Slips To Modest Losses In Mid-market

The Australian stock market is slipping to modest losses in mid-market moves on Friday after opening in the green, 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 below the 8,600 level, with weakness in gold miner and energy stocks partially offset by gains in iron ore miner stocks.
RTTNews | 16 minutes ago
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, as traders hope for an end to the tariff uncertainty after US President Donald Trump confirmed he will not extend the August 1 deadline for striking trade deals, though he continues to threaten higher reciprocal tariffs on various sectors and countries.
RTTNews | 23 minutes ago
Thai Stock Market Tipped To End Losing Streak

Thai Stock Market Tipped To End Losing Streak

Ahead of Thursday's holiday for Asarnha Bucha Day, the Thai stock market had moved lower in consecutive trading days, sinking more than a dozen points or 1 percent along the way. The Stock Exchange of Thailand now sits just above the 1,110-point plateau although it may stop the bleeding on Friday.
RTTNews | 1h 15min ago
Higher Open Called For Indonesia Stock Market

Higher Open Called For Indonesia Stock Market

The Indonesia stock market has moved higher in four straight sessions, gathering almost 140 points or 2 percent along the way. The Jakarta Composite Index now sits just above the 7,000-point plateau and it's looking at a steady start again on Friday.
RTTNews | 2h 8min ago
Japanese Market Modestly Higher

Japanese Market Modestly Higher

Reversing the losses in the previous session, the Japanese market is modestly higher on Friday, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 39,700 level, with gains in exporters and technology stocks.
RTTNews | 2h 18min ago
Hong Kong Shares Tipped To Open In The Green

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market has moved higher in two of three trading days since the end of the three-day losing streak in which it had dropped more than 330 points or 1.4 percent. The Hang Seng Index now sits just beneath the 24,030-point plateau and it may see additional support on Friday.
RTTNews | 2h 23min ago
Australian Market Slightly Higher

Australian Market Slightly Higher

The Australian stock market is trading slightly higher on Friday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying just below the 8,600 level, with gains in iron ore miner stocks partially offset by weakness in gold miner and financial stocks.
RTTNews | 2h 38min ago