Asian Shares Decline On Growth Worries

RTTNews | Před 999 dny
Asian Shares Decline On Growth Worries

(RTTNews) - Asian stocks declined on Thursday as data showed the region's factory hubs saw further easing in demand in August.

Hawkish comments from another Federal Reserve official on inflation and the pace of future rate rises also weighed on sentiment.

The dollar rose to a fresh 24-year high against the yen while oil extended losses on concerns over the ailing state of the global economy.

China's Shanghai Composite index dropped 0.54 percent to 3,184.98 after a private survey showed the country's manufacturing sector slipped into contraction for the first time in three months in August amid weakening demand. Hong Kong's Hang Seng index plunged 1.79 percent to 19,597.31.

Japanese shares tumbled to hit a one-month low after a survey showed the country's manufacturing activity grew at its weakest rate in nearly a year in August.

The Nikkei average plummeted 1.53 percent to 27,661.47 while the broader Topix index ended 1.41 percent lower at 1,935.49.

Chip giants Tokyo Electron, Screen Holdings and Advantest lost 3-4 percent after reports that the U.S. has begun to impose fresh restrictions on exports of advanced chips necessary for AI-related applications to Russia and China.

Uniqlo clothing store owner Fast Retailing gave up 1.5 percent and technology investor SoftBank Group shed 0.9 percent.

Nippon Steel gained 1.3 percent after reports that Toyota Motor has agreed to raise the price of steel materials used for cars. Toyota shares gave up 2.3 percent.

Seoul stocks tumbled and the Korean won hit a 13-year low against the dollar after data showed the country's export growth slowed in August. The Kospi average fell 2.28 percent to 2,415.61, dragged down by tech and bio shares. Samsung Electronics, SK Hynix, Samsung SDI plunged 2-4 percent.

Australian markets closed lower, led by losses in the technology, materials and energy sectors. Growth worries resurfaced after data showed activity across Australia's manufacturing sector cooled in August.

The benchmark S&P/ASX 200 fell 2.02 percent to 6,845.60 while the broader All Ordinaries index ended 2.02 percent lower at 7,079.90. Mining giant BHP Group sank 7.6 percent on going ex-dividend.

Across the Tasman, New Zealand's benchmark NZX-50 index finished marginally higher at 11,609.82. Heavyweight Fisher & Paykel Healthcare advanced 1.5 percent after announcing plans to spend $275m on a 105-hectare site in South Auckland.

U.S. stocks came under pressure for the fourth straight session overnight, as the ADP private payrolls report suggested a shift toward a more conservative pace of hiring in August and Cleveland Fed President Loretta Mester said policy makers should raise rates beyond 4 percent and deliver no rate cuts in 2023.

The Dow gave up 0.9 percent, the S&P 500 slipped 0.8 percent and the tech-heavy Composite index declined 0.6 percent.

read more
U.S. Dollar Strengthens On Trump's Tariff Delay

U.S. Dollar Strengthens On Trump's Tariff Delay

The U.S. dollar was higher against its major counterparts in the New York session on Tuesday amid easing trade tensions between the U.S. and the European Union.
RTTNews | Před 37 minutami
European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European stocks closed on a positive note on Tuesday, continuing to benefit from U.S. President Donald Trump's decision to amid slightly easing concerns about a potential trade war following U.S. President Donald Trump's decision decision to wait till July 9th to implement the 50% tariffs he had threatened to impose on imports from the European Union.
RTTNews | Před 2 h 5 min
U.S. Consumer Confidence Rebounds Much More Than Expected In May

U.S. Consumer Confidence Rebounds Much More Than Expected In May

A report released by the Conference Board on Tuesday showed a substantial improvement by U.S. consumer confidence in the month of May. The Conference Board said its consumer confidence index spiked to 98.0 in May after plunging to a downwardly revised 85.7 in April.
RTTNews | Před 4 h 46 min
U.S. Durable Goods Orders Plunge 6.3% In April As Aircraft Orders Plummet

U.S. Durable Goods Orders Plunge 6.3% In April As Aircraft Orders Plummet

With orders for transportation equipment pulling back sharply, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of April. The Commerce Department said durable goods orders tumbled by 6.3 percent in April after surging by a downwardly revised 7.6 percent in March.
RTTNews | Před 4 h 57 min
Bay Street Seen Opening Higher Again

Bay Street Seen Opening Higher Again

Canadian shares are likely to extend recent gains on Tuesday following U.S. President Donald Trump's decision to wait till July 9th to implement the 50% tariffs he had threatened to impose on imports from the European Union.
RTTNews | Před 6 h 24 min
U.S. Durable Goods Orders Pull Back Sharply In April

U.S. Durable Goods Orders Pull Back Sharply In April

With orders for transportation equipment pulling back sharply, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of April.
RTTNews | Před 6 h 25 min
Eurozone Economic Sentiment Rises More Than Forecast

Eurozone Economic Sentiment Rises More Than Forecast

Eurozone economic confidence strengthened more than expected in May as manufacturers, consumers and retailers showed signs of recovery, survey data from the European Commission revealed on Tuesday. The Economic Sentiment Indicator climbed to 94.8 from 93.8 in April. The reading was above forecast of 94.0. The rise in the ESI was primarily driven by the improvements in the industry, retail trad
RTTNews | Před 6 h 43 min