Soft Start Predicted For China Stock Market

RTTNews | 939 dias atrás
Soft Start Predicted For China Stock Market

(RTTNews) - The China stock market on Wednesday halted the two-day slide in which it had dropped more than 30 points or 1 percent. The Shanghai Composite Index now rests just above the 3,175-point plateau although it's likely to turn lower again on Thursday.

The global forecast for the Asian markets is soft on renewed concerns over the outlook for interest rates. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.

The SCI finished barely higher on Wednesday as gains from the resource and energy stocks were offset by weakness from the properties and a mixed picture from the financial sector.

For the day, the index perked 0.20 points or 0.01 percent to finish at 3,176.53 after trading between 3,168.59 and 3,189.83. The Shenzhen Composite Index fell 1.77 points or 0.09 percent to end at 2,048.61.

Among the actives, Industrial and Commercial Bank of China dipped 0.23 percent, while China Construction Bank fell 0.36 percent, China Merchants Bank rallied 2.13 percent, Bank of Communications collected 0.21 percent, China Life Insurance eased 0.20 percent, Jiangxi Copper added 0.63 percent, Aluminum Corp of China (Chalco) climbed 1.06 percent, Yankuang Energy strengthened 1.48 percent, PetroChina improved 0.78 percent, China Petroleum and Chemical (Sinopec) lost 0.45 percent, Huaneng Power shed 0.58 percent, China Shenhua Energy gained 0.59 percent, Gemdale retreated 1.35 percent, Poly Developments slumped 1.19 percent, China Vanke skidded 1.18 percent, China Fortune Land tumbled 2.20 percent, Beijing Capital Development sank 0.84 percent and Bank of China was unchanged.

The lead from Wall Street ends up negative as the major averages opened higher on Wednesday and stayed that way before tumbling after the Federal Reserve's monetary policy announcement.

The Dow dropped 142.29 points or 0.42 percent to finish at 33,966.35, while the NASDAQ sank 85.93 points or 0.76 percent to close at 11,170.89 and the S&P 500 lost 24.33 points or 0.61 percent to end at 3,995.32.

The lower close on Wall Street came after the Fed announced its widely expected decision to slow the pace of interest rate increases but still signaled further rate hikes ahead.

After raising interest rates by 75 basis points at four consecutive meetings, the Fed announced its decision to raise interest rates by 50 basis points to a target range of 4.25 to 4.50 percent.

But the central bank reiterated that it anticipates ongoing increases in rates will be appropriate. The economic projections provided along with the announcement now suggest the Fed expects rates to be raised higher than forecast in September.

Crude oil prices climbed higher on Wednesday, lifted by an upward revision in demand forecast by the International Energy Agency due to the shutdown of the Keystone pipeline following a massive leak. West Texas Intermediate Crude oil futures for January ended higher by $1.89 or 2.5 percent at $77.28 a barrel.

Closer to home, China will see November data for industrial production, retail sales, fixed asset investment, house prices and unemployment later today.

Industrial production is expected to rise 3.6 percent, down from 5.0 percent in October. Retail sales are tipped to slip an annual 3.7 percent after easing 0.5 percent in the previous month. FAI is called higher by 5.6 percent on year, slowing from 5.8 percent a month earlier. In October, the jobless rate was 5.5 percent and house prices rose an annual 1.6 percent.

read more
UK Economy Contracts For Second Straight Month

UK Economy Contracts For Second Straight Month

The UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in meeting her self-imposed borrowing rules. Gross domestic product fell unexpectedly by 0.1 percent in May, following a 0.3 percent drop in April, data from the Office for National Statistics revealed on Friday.
RTTNews | 13 minutos atrás
CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

French stocks are notably lower on Friday, weighed down by losses in automobile and luxury sectors. The mood in the market is a bit bearish, in line with other major markets in Europe, amid renewed worries about tariffs.
RTTNews | 20 minutos atrás
DAX Down Sharply As Stocks Tumble On Tariff Concerns

DAX Down Sharply As Stocks Tumble On Tariff Concerns

German stocks are down sharply on Friday as trade war concerns hurt sentiment following U.S. President Donald Trump imposing a 35% tariff on Canadian imports, effective August 1.
RTTNews | 43 minutos atrás
Walmart Recalls 850K Ozark Trail Water Bottles

Walmart Recalls 850K Ozark Trail Water Bottles

Retain giant Walmart Inc. is recalling about 850,000 Ozark Trail 64 oz Stainless Steel Insulated Water Bottles as the lid can suddenly pop off with force, causing injury, according to the U.S. Consumer Product Safety Commission. The recall includes Water Bottles sold under model number 83-662. These silver stainless-steel bottles feature a black one-piece screw-on lid.
RTTNews | 55 minutos atrás
European Shares Decline As Tariff Worries Return To Haunt

European Shares Decline As Tariff Worries Return To Haunt

European stocks fell on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian imports, starting Aug. 1, in a dramatic escalation of a trade war with the United States' closest ally over the country's alleged role in fentanyl flows.
RTTNews | 2h 2min atrás
Asian Shares Mostly Lower As Trump Ups Tariff Ante

Asian Shares Mostly Lower As Trump Ups Tariff Ante

Asian shares ended mostly lower in cautious trade on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20 percent on most trading partners that haven't got letters yet.
RTTNews | 2h 27min atrás
Yen Retreats Against Majors

Yen Retreats Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Friday.
RTTNews | 2h 55min atrás