Asian Shares Mixed; Chinese Markets Rally On Recovery Hopes

RTTNews | 33 dias atrás

(RTTNews) - Asian stocks ended mixed on Wednesday, with mainland Chinese stocks posting strong gains after GDP data for the first quarter beat expectations. Japanese markets led losses to end lower for a third day running due to concerns over rising bond yields and heightened tensions in the Middle East.

Uncertainty around rate cuts grew after Fed Chair Jerome Powell and Vice Chair Philip N Jefferson indicated that rates are likely to remain higher for longer.

Meanwhile, media reports suggested that Israel's response to Tehran could come 'as soon as Monday'.

The dollar held steady in Asian trading, keeping the yen near 34-year lows as traders recalibrated their rate cut expectations to September from June.

Gold retained its allure as a safe haven asset, trading above $2,380 per ounce. Oil prices slipped around half a percent on demand concerns as industry data showed U.S. crude stockpiles jumped more than expected last week.

China's Shanghai Composite index jumped 2.14 percent to 3,071.38 as the country's top securities regulator said there won't be a surge in delistings as a result of new stock exchange rules. Hong Kong's Hang Seng index finished marginally higher at 16,251.84.

Japanese markets fell for a third straight session due to uncertainty around the situation in the Middle East.

Investors ignored data showed that Japanese exports grew more than expected in March. The Nikkei average slumped 1.32 percent to 37,961.80, marking its lowest closing level since Feb. 14. The broader Topix index settled 1.26 percent lower at 2,663.15. Chip-testing equipment maker Advantest plunged 4.5 percent ahead of its earnings results due next week. Chemical firm Resonac Holdings surged 12 percent after raising its revenue forecast for 2024.

Seoul stocks fell sharply despite warnings from officials against extreme volatility in the won. The Kospi average dropped 0.98 percent to 2,584.18.

Australian markets ended marginally lower after Rio Tinto reported a 5 percent fall in its first-quarter iron ore shipments, missing estimates. Shares of the mining giant ended little changed while peer BHP gave up 1.2 percent ahead of its quarterly production figures due on Thursday.

Across the Tasman, New Zealand's benchmark S&P NZX-50 index rose 0.60 percent to 11,875.35 after data showed headline inflation slowed to its weakest in almost three years.

U.S. stocks fluctuated before ending narrowly mixed overnight. The S&P 500 slipped 0.2 percent to notch its third straight day of losses and the tech-heavy Nasdaq Composite eased 0.1 percent while the Dow rose 0.2 percent to snap a six-session losing streak.

Asian Markets Trade Mostly Lower

Asian stock markets are mostly lower on Tuesday, following the mixed cues from Wall Street overnight, amid lingering uncertainty about the outlook for interest rates, with some US Fed officials warning the central bank may still need to raise rates if inflation persists. Traders also seemed reluctant to make more significant bets ahead of the release of the minutes of the latest Fed meeting.

RTTNews | 4 h 39 min atrás

Japanese Market Slightly Higher

Adding the gains in the previous session, the Japanese stock market is slightly higher on Tuesday, with the Nikkei 225 moving above the 39,100 level, following the mixed cues from Wall Street overnight, with gains in some Index heavyweights and technology stocks.

RTTNews | 5 h 34 min atrás

Sensex, Nifty Seen Higher At Open

Indian shares are seen opening flat to higher on Tuesday despite mixed global cues, elevated geopolitical tensions and lingering uncertainty over the timing and pace of Fed rate cuts.

RTTNews | 5 h 36 min atrás

Thai Stock Market Called Higher On Tuesday

The Thai stock market on Monday ended the two-day winning streak in which it had picked up more than a dozen points or 0.9 percent. The Stock Exchange of Thailand now sits just beneath the 1,380-point plateau although it's expected to open to the upside on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.

RTTNews | 5 h 58 min atrás

RBA Minutes: Inflation Slowing Less Than Expected

Members of the Reserve Bank of Australia's Monetary Policy Board said that the country's economy was slowing and that inflation was declining less than expected, minutes from the central bank's May 7 meeting revealed on Tuesday.

RTTNews | 6 h 8 min atrás

Indonesia Shares May Reverse Monday's Losses

The Indonesia stock market on Monday snapped the three-day winning streak in which it had jumped more than 230 points or 3.3 percent. The Jakarta Composite Index now sits just beneath the 7,270-point plateau although it's expected to rebound on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside. The JCI finished modestly lower on Monday following losses from the financial shares and mixed performances from the cement and resource companies. For the day, the index sank 50.55 points or 0.69 percent to finish at 7,266.69 after trading between 7,243.01 and 7,374.55. Among the actives, Bank CIMB Niaga sank 0.80 percent, while Bank Mandiri plunged 3.80 percent, Bank Danamon Indonesia fell 0.37 percent, Bank Negara Indonesia plummeted 3.77 percent, Bank Central Asia tanked 2.82 percent, Bank Rakyat Indonesia stumbled 2.03 percent, Indosat Ooredoo Hutchison surrendered 3.48 percent, Indocement rose 0.36 percent, Semen Indonesia slumped 1.72 percent, Indofood Sukses Makmur climbed 1.22 percent, United Tractors accelerated 2.47 percent, Astra International retreated 1.25 percent, Energi Mega Persada soared 2.07 percent, Astra Agro Lestari strengthened 1.64 percent, Aneka Tambang rallied 2.16 percent, Vale Indonesia skyrocketed 7.52 percent, Timah lost 0.51 percent, Bumi Resources spiked 2.17 percent and Perusahaan Perseroan and Jasa Marga were unchanged.

RTTNews | 6 h 28 min atrás

Australian Market Modestly Lower

The Australian stock market is modestly lower on Tuesday after opening in the green, giving up some of the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 7,900 level, with weakness in iron ore miners and energy stocks are partially offset by gains in technology stocks.

RTTNews | 6 h 32 min atrás

Higher Open Called For Hong Kong Stock Market

The Hong Kong stock market has moved higher in three straight sessions, climbing almost 560 points or 3 percent along the way. The Hang Seng Index now sits just above the 19,630-point plateau and it may see additional support on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.

RTTNews | 6 h 43 min atrás

EURUSD	1.08558	GBPUSD	1.27061	AUDUSD	0.66564
USDJPY	156.478	USDCAD	1.36383	USDCHF	0.91091