China Stock Market Tipped To Open Under Pressure

RTTNews | 954 dni temu
China Stock Market Tipped To Open Under Pressure

(RTTNews) - The China stock market has moved lower in four straight trading days, slipping more than 70 points or 2.4 percent along the way. The Shanghai Composite Index now sits just above the 3,050-point plateau and it's likely to see continued consolidation on Tuesday.

The global forecast for the Asian markets continues to be soft on concerns about interest rates and the global economy. The European and U.S. markets were down again and the Asian markets, despite being badly oversold at this point, are expected to at least open in the red.

The SCI finished sharply lower on Monday following losses from the financial shares, resource stocks and oil companies, while the property sector was mixed.

For the day, the index slumped 37.14 points or 1.20 percent to finish at 3,051.23 after trading between 3,048.51 and 3,102.65. The Shenzhen Composite Index lost 14.69 points or 0.75 percent to end at 1,949.00.

Among the actives, Industrial and Commercial Bank of China slumped 1.14 percent, while Bank of China retreated 1.29 percent, China Construction Bank declined 1.42 percent, China Merchants Bank slumped 1.19 percent, Bank of Communications skidded 1.08 percent, China Life Insurance eased 0.19 percent, Jiangxi Copper plunged 4.58 percent, Aluminum Corp of China (Chalco) plummeted 6.14 percent, Yankuang Energy weakened 1.25 percent, PetroChina cratered 6.07 percent, China Petroleum and Chemical (Sinopec) tanked 4.47 percent, Huaneng Power sank 1.24 percent, Maanshan Iron & Steel tumbled 4.23 percent, China Shenhua Energy surrendered 2.63 percent, Gemdale jumped 1.72 percent, Poly Developments advanced 0.80 percent, China Vanke eased 0.40 percent and China Fortune Land was down 3.38 percent.

The lead from Wall Street continues to be negative as the major averages were unable to hold early support on Monday, accelerating to the downside as the day progressed.

The Dow tumbled 329.60 points or 1.11 percent to finish at 29.260.81, while the NASDAQ dropped 65.00 points or 0.60 percent to close at 10.802.92 and the S&P 500 fell 38.19 points or 1.03 percent to end at 3,655.04.

A continued surge in the value of the U.S. dollar contributed to the weakness on Wall Street, with the greenback hitting a record high versus the British pound.

Concerns about the outlook for the global economy also continued to weigh on the markets amid worries the increases in interest rates around the world will lead to a recession. The Fed and other central banks have indicated they plan to continue raising rates in an effort to combat stubbornly elevated inflation.

The extended weakness on Wall Street also came amid a spike in treasury yields, with the yield on the benchmark 10-year note soaring to a 12-year high.

Crude oil prices tumbled to near nine-month lows on Monday, extending losses from the previous session amid rising concerns about the outlook for fuel demand due to increasing possibility of a global recession. West Texas Intermediate Crude oil futures for November ended lower by $2.03 or 2.6 percent at $76.71 a barrel.

Closer to home, China will release August figures for industrial profits; in July, profits were up 0.80 percent on year and down 1.1 percent year-to-date.

read more
Sensex, Nifty Subdued In Early Trade

Sensex, Nifty Subdued In Early Trade

Indian shares were subdued on Thursday amid rising tensions between India and Pakistan and concerns about the outlook for the global economy.
RTTNews | 43 minut temu
Australian Market Swings To Slight Gains In Mid-market

Australian Market Swings To Slight Gains In Mid-market

The Australian market is turning its early losses to slight gains in mid-market moves on Thursday after opening in the red, 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 8,200 level, with gains in gold miners and technology stocks partially offset by weakness in financial stocks.
RTTNews | 1g 31 minut temu
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, amid optimism surrounding the upcoming U.S.-China trade talks to take place in Switzerland this week and China's new stimulus measures. Meanwhile, the US Fed left interest rates unchanged, and also warned of increasing risks of higher unemployment and higher inflation.
RTTNews | 1g 54 minut temu
Sensex, Nifty Likely To Open On Cautious Note

Sensex, Nifty Likely To Open On Cautious Note

Indian shares look set to open on a cautious note Thursday as Pakistan troops continue to resort to cross-border shelling along the Line of Control (LoC) in Kupwara district of Jammu and Kashmir for the second consecutive day.
RTTNews | 2g 25 minut temu
Japanese Market Modestly Lower

Japanese Market Modestly Lower

The Japanese market is trading modestly lower on Thursday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling well below the 36,700 level, with weakness in index heavyweights, exporters and financial stocks partially offset by gains in technology stocks.
RTTNews | 3g 16 minut temu
Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian market is trading slightly lower on Thursday, giving up some of the slight gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,200 level, with weakness in iron ore miners and financial stocks partially offset by gains in gold miners and technology stocks.
RTTNews | 3g 53 minut temu
Fed Leaves Interest Rates Unchanged, Warns Of Higher Unemployment, Inflation.

Fed Leaves Interest Rates Unchanged, Warns Of Higher Unemployment, Inflation.

The Federal Reserve on Wednesday announced its widely expected decision to leave interest rates unchanged, highlighting increased uncertainty about the economic outlook. The Fed said it decided to leave the target for the federal funds rate at 4.25 to 4.50 percent for the third straight meeting.
RTTNews | 10g 32 minut temu