Continued Consolidation Called For Taiwan Stock Market

RTTNews | 80 dias atrás

(RTTNews) - The Taiwan stock market on Monday snapped the five-day winning streak in which it had surged more than 1,300 points or 6.4 percent. The Taiwan Stock Exchange now sits just above the 20,530-point plateau and it may take further damage on Tuesday.

The global forecast for the Asian markets is soft on tariff concerns and sinking oil prices. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.

The TSE finished sharply lower on Monday following losses from the financial shares and technology stocks, while the plastics companies offered support.

For the day, the index stumbled 254.65 points or 1.23 percent to finish at 20,532.99 after trading between 20,320.80 and 20,885.54.

Among the actives, Cathay Financial and Fubon Financial both eased 0.16 percent, while Mega Financial strengthened 1.46 percent, CTBC Financial tanked 2.36 percent, First Financial sank 0.79 percent, E Sun Financial shed 0.54 percent, Taiwan Semiconductor Manufacturing Company retreated 1.26 percent, United Microelectronics Corporation slumped 1.31 percent, Largan Precision and Hon Hai Precision both surrendered 3.39 percent, Catcher Technology stumbled 2.04 percent, MediaTek fell 0.38 percent, Delta Electronics climbed 1.13 percent, Novatek Microelectronics advanced 0.97 percent, Formosa Plastics soared 3.74 percent, Nan Ya Plastics rallied 2.43 percent and Asia Cement jumped 1.56 percent.

The lead from Wall Street is negative as the major averages opened lower on Monday, rallied midday but turned lower into the finish to end in the red.

The Dow shed 98.60 points or 0.24 percent to finish at 41,218.83, while the NASDAQ dropped 133.49 points or 0.74 percent to close at 17,844.24 and the S&P 500 sank 36.29 points or 0.64 percent to end at 5,650.38.

The early pullback on Wall Street came as some traders looked to cash in on the recent strength in the markets, which had lifted the major averages to their best levels in a month.

Renewed trade concerns also weighed on stocks after President Donald Trump announced plans to impose a 100 percent tariff on movies produced in foreign countries.

However, early selling pressure waned following the release of a report from the Institute for Supply Management showing an unexpected increase in U.S. service sector activity in April.

Crude oil futures moved sharply lower on Monday to a four-year low after several members of OPEC+ agreed to increase oil production for a second month. West Texas Intermediate crude for June delivery tumbled $1.16 or 2 percent to $57.13 a barrel.

Russia Slashes Interest Rates Again On Easing Price Pressures

Russia's central bank lowered the key interest rate massively for a second policy session in a row on Friday after policymakers assessed that inflationary pressures are declining and the economy is on a return to balanced growth.

RTTNews | 1 h 53 min atrás

Bay Street Seen Opening With Negative Bias

Canadian shares are likely to open with a slightly negative bias Friday morning, weighed down by uncertainty about tariffs, and lower bullion prices. Investors are also likely to react to earnings updates. The market is likely to move in a tight range for much of the day's trading session.

RTTNews | 3 h 3 min atrás

UK Retail Sales Rebound As Warm Weather Boosts Spending

UK retail sales recovered in June as warm weather boosted consumer spending but consumer sentiment weakened amid fears of possible tax rate hikes, data showed Friday. Retail sales grew 0.9 percent on a monthly basis, in contrast to the revised 2.8 percent drop in May, the Office for National Statistics reported. However, this was weaker than economists' forecast of 1.2 percent gain.

RTTNews | 3 h 20 min atrás

FTSE 100 Sheds Ground After Six-day Winning Streak

After posting gains in the previous six sessions, the U.K. market is down in negative territory on Friday with data showing a less than expected increase in retail sales, and a drop in consumer sentiment weighing on stocks.

RTTNews | 3 h 34 min atrás

Volkswagen Stock Up On Volume Growth, Despite Weak Q2 Profit, Outlook Cut

Shares of Volkswagen Group were gaining around 4 percent in the German trading after the automajor reported Friday slightly higher sales volume in the second quarter, even though profit and revenues were lower and the firm trimmed fiscal 2025 outlook. The latest results were hit partly by higher sales of lower-margin all-electric models, as well as increased US import tariffs and restructuring...

RTTNews | 4 h 59 min atrás