Asian Shares Decline On Soft US Data

RTTNews | 616日前
Asian Shares Decline On Soft US Data

(RTTNews) - Asian stocks declined on Friday as softer U.S. data and declining oil prices stoked concerns about the global economic outlook.

The dollar was set for a weekly slide, helping bullion prices push higher. Crude prices were little changed in Asian trade after plunging nearly 5 percent on Thursday amid signs of increasing supplies and fears of worsening global demand.

China's Shanghai Composite index recovered from an early slide to close 0.11 percent higher at 3,054.37, helped by the apparent easing of tensions between the United States and China.

Hong Kong's Hang Seng index fell 2.12 percent to 17,454.19 due to heavy losses in the tech sector.

Alibaba Group Holding shares plummeted 10 percent after the company scrapped plans to spin off its cloud business, citing uncertainties over the supply of chips needed for artificial intelligence development.

Japanese shares bucked the weak trend to end higher after Bank of Japan Governor Kazuo Ueda said that the economy is recovering moderately, and the central bank will move carefully on raising interest rates.

The Nikkei average rose 0.48 percent to 33,585.20 while the broader Topix index settled 0.95 percent higher at 2,391.05.

Aviation stocks rebounded after falling in the previous session on disappointing tourism data. ANA Holdings rallied 3.2 percent and Japan Airlines added 2.4 percent.

Seoul stocks fell notably to snap a three-day winning streak amid signs the U.S. economy is cooling. The Kospi average fell 0.74 percent to 2,469.85.

Battery makers succumbed to selling pressure following losses from Tesla. LG Energy Solution fell 2.4 percent and Samsung SDI gave up 2.4 percent.

Australian markets edged down slightly as strong domestic labor market data revived rate hike fears. The benchmark S&P ASX 200 slid 0.13 percent to 7,049.40, dragged down by financials and energy stocks.

Gold miners advanced, with Ramelius Resources and Evolution Mining rallying 3-4 percent. The broader All Ordinaries index ended 0.12 percent lower at 7,261.

Across the Tasman, New Zealand's benchmark S&P NZX-50 index closed 0.48 percent lower at 11,176.97.

U.S. stocks ended narrowly mixed overnight as investors digested a string of weak economic data and disappointing forecasts from Cisco and Walmart.

A measure of U.S. jobless claims rose to a three-month high last week, retail sales fell for the first time in seven months in October and industrial production fell more than expected in the month, adding to expectations for Fed rate cuts.

The Dow slipped 0.1 percent to snap a four-day winning streak while the tech-heavy Nasdaq Composite and the S&P 500 both finished marginally higher.

read more
Canadian Stocks Climb As U.S.-Canada Talks Continue

Canadian Stocks Climb As U.S.-Canada Talks Continue

Canada's stock market scaled a new high on Friday as traders expressed optimism in the continuing high-level U.S.-Canada trade negotiations even as August 1 deadline is closing in.
RTTNews | 3時14分前
Gold Slips As U.S. Tariff Concerns Start To Ease

Gold Slips As U.S. Tariff Concerns Start To Ease

Gold prices fell modestly on Friday as investors see a glimpse of positivity with news of more countries signing deals with the US coming in and other major US trading partners brainstorming with their US counterparts to secure a deal before August 1.
RTTNews | 3時22分前
Crude Falls As Chevron Allowed To Start Operations In Venezuela

Crude Falls As Chevron Allowed To Start Operations In Venezuela

Crude oil fell on Friday on reports that the U.S. might allow partners of Venezuela's state-run PDVSA to resume operations, sparking concerns of over-supply. Earlier in the day, crude oil traded in the positive territory as the U.S. signed a spate of trade deals with its major trading partners in the past few days.
RTTNews | 3時25分前
U.S. Dollar Firms On Easing Trade Tensions

U.S. Dollar Firms On Easing Trade Tensions

The U.S. dollar advanced against its major counterparts in the New York session on Friday, as investors awaited trade talks between the country and key trading partners.
RTTNews | 4時59分前
Swiss Market Ends Notably Lower

Swiss Market Ends Notably Lower

The Switzerland market ended notably lower on Friday as uncertainty about Trump administration's tariff decisions and a few disappointing earnings updates weighed on sentiment.
RTTNews | 8時29分前
Russia Slashes Interest Rates Again On Easing Price Pressures

Russia Slashes Interest Rates Again On Easing Price Pressures

Russia's central bank lowered the key interest rate massively for a second policy session in a row on Friday after policymakers assessed that inflationary pressures are declining and the economy is on a return to balanced growth.
RTTNews | 12時3分前
Bay Street Seen Opening With Negative Bias

Bay Street Seen Opening With Negative Bias

Canadian shares are likely to open with a slightly negative bias Friday morning, weighed down by uncertainty about tariffs, and lower bullion prices. Investors are also likely to react to earnings updates. The market is likely to move in a tight range for much of the day's trading session.
RTTNews | 13時13分前