Hong Kong Stock Market May Open Under Pressure On Wednesday

RTTNews | 63 dias atrás
Hong Kong Stock Market May Open Under Pressure On Wednesday

(RTTNews) - The Hong Kong stock market on Tuesday wrote a finish to the two-day winning streak in which it had rallied more than 850 points or 4.2 percent. The Hang Seng Index now sits just above the 20,310-point plateau and it's looking at another soft start again on Wednesday.

The global forecast for the Asian markets is negative, with weakness expected from the computer, semiconductor and housing sectors. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

The Hang Seng finished modestly lower on Tuesday following losses from the oil and insurance companies and mixed performance from the technology and property sectors.

For the day, the index slumped 102.81 points or 0.50 percent to finish at 20,311.28 after trading between 20,308.86 and 21,070.05.

Among the actives, Alibaba Group shed 0.35 percent, while Alibaba Health Info retreated 1.83 percent, ANTA Sports sank 0.90 percent, China Life Insurance plunged 3.21 percent, China Resources Land tumbled 2.23 percent, CITIC skidded 1.41 percent, CNOOC slumped 1.66 percent, CSPC Pharmaceutical declined 1.75 percent, Galaxy Entertainment added 0.55 percent, Haier Smart Home dropped 1.22 percent, Hang Lung Properties gathered 0.15 percent, Henderson Land fell 0.20 percent, Hong Kong & China Gas increased 0.50 percent, JD.com improved 0.72 percent, Lenovo advanced 0.85 percent, Li Auto stumbled 2.01 percent, Li Ning rose 0.34 percent, Meituan perked 0.06 percent, New World Development gained 0.45 percent, Nongfu Spring tanked 2.71 percent, Techtronic Industries lost 0.26 percent, WuXi Biologics plummeted 3.89 percent and China Mengniu Dairy, Industrial and Commercial Bank of China and Xiaomi Corporation were unchanged.

The lead from Wall Street is soft as the major averages opened flat on Tuesday and hugged the line for most of the session before sinking firmly into the red late in the day.

The Dow dropped 154.10 points or 0.35 percent to finish at 44,247.83, while the NASDAQ sank 49.45 points or 0.25 percent to close at 19,687.24 and the S&P 500 fell 17.94 points or 0.30 percent to end at 6,034.91.

The weakness that emerged on Wall Street came as traders continued to cash in on recent strength in the markets ahead of the release of the Labor Department's closely watched report on consumer price inflation later today.

While the Federal Reserve is widely expected to lower rates by another 25 basis points next week, the data could impact the outlook for future rate cuts by the central bank.

CME Group's FedWatch Tool is currently indicating an 86.1 percent chance the Fed will lower rates by a quarter point next week but a 69.1 percent chance the central bank will then leave rates unchanged in late January.

Oil futures settled higher on Tuesday amid hopes that demand from China will increase following recent stimulus measures announced by the Chinese government. West Texas Intermediate Crude oil futures for January closed up $0.22 or 0.32 percent at $68.59 a barrel.

read more
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Wednesday.
RTTNews | 5 h 15 min atrás
European Shares Likely To Open On Steady Note Before US Inflation Test

European Shares Likely To Open On Steady Note Before US Inflation Test

European stocks look set to open on a firm note Wednesday as investors await U.S. CPI data and Fed Chair Jerome Powell's testimony before the House Financial Services Committee later in the day for more insight on interest rates, trade tariffs and economic outlook.
RTTNews | 6 h 52 min atrás
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Wednesday, following the mixed cues from Wall Street overnight, as traders remain cautious amid raising fears of a brewing global trade war and its impact on inflation. They also reacted to US Fed Chair Jerome Powell's cautious remarks on interest-rate cuts and awaited the release of U.S. CPI data for additional clues on future monetary policy.
RTTNews | 8 h 56 min atrás
Australian Market Turns To Green In Mid-market

Australian Market Turns To Green In Mid-market

The Australian stock market turns to green in mid-market trading on Wednesday after opening in the red, extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,500 level, following the mixed cues from Wall Street overnight, with gains in energy and financial stocks partially offset by weakness in mining and technology stocks.
RTTNews | 9 h 25 min atrás
Sensex, Nifty Set For Muted Open

Sensex, Nifty Set For Muted Open

Indian shares look set to open on a positive note Wednesday, though volatility cannot be ruled out in the wake of lingering concerns over ongoing foreign fund outflows, signs of slowing corporate earnings growth and geopolitical tensions involving Israel and Hamas.
RTTNews | 9 h 48 min atrás
Indonesia Stock Market May End Losing Streak

Indonesia Stock Market May End Losing Streak

The Indonesia stock market has finished lower in five straight sessions, slumping more than 540 points or 7.9 percent in that span. The Jakarta Composite Index now sits just above the 6,530-point plateau and it's overdue for support on Wednesday.
RTTNews | 10 h 53 min atrás
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is modestly higher in post-holiday trading on Wednesday, adding to the gains in the previous two sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving well above the 38,800 level, with gains index heavyweights, exporter and technology stocks partially offset by weakness in automakers and financial stocks.
RTTNews | 10 h 59 min atrás