Soft Start Anticipated For China Stock Market

RTTNews | 1060 dni temu
Soft Start Anticipated For China Stock Market

(RTTNews) - The China stock market on Monday ended the two-day slide in which it had dropped more than 55 points or 1.7 percent. The Shanghai Composite Index now sits just beneath the 3,280-point plateau although it's likely to see renewed selling pressure on Tuesday.

The global forecast for the Asian markets is mixed to lower, with profit taking expected amid concerns over the outlook for interest rates. The European markets were up and the U.S. bourses were down, and the Asian markets are tipped to trend generally lower as well.

The SCI finished sharply higher on Monday following gains from the financial shares, property stocks and resource and energy companies.

For the day, the index jumped 50.04 points or 1.55 percent to finish at 3,278.10 after trading between 3,226.23 and 3,278.47. The Shenzhen Composite Index climbed 31.96 points or 1.48 percent to end at 2,191.96.

Among the actives, Industrial and Commercial Bank of China advanced 0.92 percent, while Bank of China and Bank of Communications both collected 0.67 percent, China Construction Bank strengthened 1.46 percent, China Merchants Bank rallied 2.18 percent, China Life Insurance spiked 2.89 percent, Jiangxi Copper accelerated 4.25 percent, Aluminum Corp of China (Chalco) surged 5.71 percent, Yankuang Energy soared 5.38 percent, PetroChina improved 2.79 percent, China Petroleum and Chemical (Sinopec) jumped 1.99 percent, Huaneng Power climbed 4.56 percent, China Shenhua Energy advanced 2.62 percent, Gemdale skyrocketed 5.02 percent, Poly Developments perked 4.50 percent, China Vanke increased 1.59 percent, China Fortune Land gathered 3.86 percent and Beijing Capital Development gained 0.92 percent.

The lead from Wall Street ends up negative as the major averages couldn't hold on to early gains, sinking as the day progressed to close firmly in the red.

The Dow tumbled 215.65 points or 0.69 percent to finish at 31,072.61, while the NASDAQ sank 92.37 points or 0.81 percent to end at 11,360.05 and the S&P 500 lost 32.31 points or 0.84 percent to close at 3,830.85.

The early strength on Wall Street came as traders continued to pick up stocks at reduced levels, while positive sentiment was also generated in reaction to upbeat earnings news from Goldman Sachs (GS) and others.

Buying interest waned over the course of the session, however, as traders continued to worry about the economic outlook ahead of next week's Federal Reserve meeting.

In U.S. economic news, the National Association of Home Builders released a report showing a substantial deterioration in U.S. homebuilder confidence in the month of July.

Crude oil prices rose sharply Monday with traders assessing crude supply levels amid concerns over gas supply from Russia. A weak dollar also contributed significantly to the jump in oil prices. West Texas Intermediate crude oil futures for August ended higher by $5.01 or 5.1 percent at $102.60 a barrel.

read more
Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian stock market is trading slightly lower on Friday after opening in the green, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,600 level, with weakness is technology stocks partially offset by gains in gold miners and energy stocks.
RTTNews | 11 minut temu
China Stock Market May Add To Its Winnings On Friday

China Stock Market May Add To Its Winnings On Friday

The China stock market has moved higher in back-to-back sessions, collecting more than 15 points or 0.4 percent in that span. The Shanghai Composite Index now sits just above the 3,400-point plateau and it's expected to see continued strength on Friday.
RTTNews | 17 minut temu
Taiwan Shares May Bounce Higher Again On Friday

Taiwan Shares May Bounce Higher Again On Friday

The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
RTTNews | 47 minut temu
Singapore Bourse May Extend Thursday's Gains

Singapore Bourse May Extend Thursday's Gains

The Singapore stock market on Thursday ended the two-day slide in which it had fallen more than 15 points or 0.4 percent. The Straits Times Index now sits just above the 3,920-point plateau and it's tipped to open to the upside again on Friday.
RTTNews | 1g 17 minut temu
Malaysia Stock Market May See Additional Support

Malaysia Stock Market May See Additional Support

The Malaysia stock market has ticked higher in consecutive trading days, gathering almost 10 points or 0.6 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,525-point plateau and it may add to its winnings again on Friday.
RTTNews | 1g 47 minut temu
Win Streak May Continue For South Korea Stock Market

Win Streak May Continue For South Korea Stock Market

The South Korea stock market has finished higher in seven straight sessions, collecting more than 225 points or 8.2 percent along the way. The KOSPI now rests just above the 2,920-point plateau and it's tipped to open in the green again on Friday.
RTTNews | 2g 17 minut temu
New Zealand Manufacturing PMI Data Due On Friday

New Zealand Manufacturing PMI Data Due On Friday

New Zealand will on Friday release May results for the manufacturing PMI from BusinessNZ, highlighting a light day for Asia-Pacific economic activity. In April, the PMI score was 53.9.
RTTNews | 3g 11 minut temu
Taiwan Shares May Bounce Higher Again On Friday

Taiwan Shares May Bounce Higher Again On Friday

The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
RTTNews | 3g 34 minut temu