Mild Rebound Anticipated For China Stock Market

RTTNews | 563 dias atrás
Mild Rebound Anticipated For China Stock Market

(RTTNews) - The China stock market headed south again on Friday, one session after ending the two-day slide in which it had declined almost 25 points or 0.8 percent. The Shanghai Composite Index now sits just above the 3,040-point plateau although it may tick higher again on Monday.

The global forecast for the Asian markets is cautiously optimistic on positive momentum regarding the outlook for interest rates. The European markets were up and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

The SCI finished modestly lower on Friday as losses from the properties and resource stocks were offset by gains from the oil companies and a mixed bag from the financial sector.

For the day, the index lost 20.89 points or 0.68 percent to finish at 3,040.97 after trading between 3,037.20 and 3,060.33. The Shenzhen Composite Index slumped 20.83 points or 1.08 percent to end at 1,900.59.

Among the actives, Bank of China added 0.51 percent, while China Construction Bank collected 0.63 percent, China Merchants Bank shed 0.46 percent, China Life Insurance retreated 1.20 percent, Jiangxi Copper fell 0.34 percent, Aluminum Corp of China (Chalco) dropped 0.88 percent, Yankuang Energy jumped 1.62 percent, PetroChina was up 0.14 percent, China Petroleum and Chemical (Sinopec) perked 0.18 percent, Huaneng Power tumbled 1.60 percent, China Shenhua Energy increased 0.32 percent, Gemdale sank 0.87 percent, Poly Developments eased 0.09 percent, China Vanke lost 0.41 percent and Industrial and Commercial Bank of China and Bank of Communications were unchanged.

The lead from Wall Street varies widely as the Dow opened higher on Friday and stayed that way, the NASDAQ opened lower and stayed that way and the S&P bounced back and forth across the line all day and finished barely higher.

The Dow gained 117.15 points or 0.33 percent to finish at 35,390.15, while the NASDAQ dipped 15.05 points or 0.11 percent to close at 14,250.85 and the S&P 500 perked 2.72 points or 0.06 percent to end at 4,559.34.

For the holiday-interrupted week, the Dow rose 1.3 percent, while the S&P 500 advanced 1.0 percent and the NASDAQ climbed 0.9 percent.

The choppy action on Wall Street came as many traders remained away from their desks following Thursday's holiday, with the markets closing three hours earlier than usual.

A lack of major U.S. economic data also kept some traders on the sidelines ahead of this week's reports on new home sales, consumer confidence, pending home sales and manufacturing activity.

Oil prices fell sharply Friday, with traders waiting on a crucial OPEC meeting this week as oil producers struggling to come to a consensus on production levels. West Texas Intermediate Crude oil futures for January ended lower by $1.56 or 2 percent at $75.54 a barrel.

Closer to home, China will see October numbers for industrial profits later this morning; in September, profits were down 9.0 percent year-to-date.

read more
Continued Consolidation Called For Singapore Shares

Continued Consolidation Called For Singapore Shares

The Singapore stock market has moved lower in two straight sessions, sinking more than 15 points or 0.4 percent along the way. The Straits Times Index now sits just beneath the 3,920-point plateau and it may take further damage on Thursday.
RTTNews | 15 minutos atrás
Renewed Selling Pressure Expected For Malaysia Shares

Renewed Selling Pressure Expected For Malaysia Shares

The Malaysia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had gained almost 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,525-point plateau and it's likely to head south again on Thursday.
RTTNews | 45 minutos atrás
Japan Stock Market May Run Out Of Steam On Thursday

Japan Stock Market May Run Out Of Steam On Thursday

The Japan stock market has finished higher in four straight sessions, climbing more than 860 points or 2.5 percent along the way. The Nikkei 225 now sits just above the 38,420-point plateau although it's due for consolidation on Thursday.
RTTNews | 1h 0min atrás
South Korea Shares Due For Consolidation

South Korea Shares Due For Consolidation

The South Korea stock market has finished higher in six straight sessions, collecting more than 210 points or 7.7 percent along the way. The KOSPI now rests just above the 2,900-point plateau although investors are likely to lock in gains on Thursday.
RTTNews | 1h 15min atrás
New Zealand Card Retail Sales Data Due On Thursday

New Zealand Card Retail Sales Data Due On Thursday

New Zealand will on Thursday release May figures for electronic card retail sales, highlighting a light day for Asia-Pacific economic activity. In April, sales were flat on month and down 0.3 percent on year.
RTTNews | 2h 15min atrás
Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

The Switzerland market ended modestly lower on Wednesday despite spending much of the day's trading session in positive territory. Although the market gained some ground in positive territory, reacting to news about U.S. and Chinese officials reaching a framework to implement the Geneva consensus following two days of discussions in London, the mood turned cautious later on in the session.
RTTNews | 6h 10min atrás
European Stocks Pare Early Gains, Close Mostly Lower

European Stocks Pare Early Gains, Close Mostly Lower

Despite U.S. and Chinese officials announcing an agreement in principle on a framework to ease trade disputes, European stocks failed to hold early gains and closed mostly lower on Wednesday, with the mood turning cautious as the plan is subject to approval by the presidents of the two nations.
RTTNews | 6h 29min atrás