Asian Shares Mixed After Dismal China GDP Data

RTTNews | 1061 дней спустя
Asian Shares Mixed After Dismal China GDP Data

(RTTNews) - Asian stocks ended mixed on Friday as China GDP growth data missed forecasts and two Fed officials played down the bet for a 100-bps rate hike at the U.S. central bank's July 26-27 meeting.

Chinese shares fell sharply after official data showed GDP grew 0.4 percent year-on-year in the second quarter, missing expectations for 1 percent growth.

However, retail sales rose 3.1 percent in June to recover from a prior slump.

The benchmark Shanghai Composite index slumped 1.64 percent to 3,228.06 while Hong Kong's Hang Seng index closed 2.19 percent lower at 20,297.72.

Alibaba Group Holding shares plummeted 6 percent after reports that the tech giant's executives had been called in for meetings with Chinese officials over the theft of a vast police database.

Japanese shares advanced to extend gains for a third straight session. The Nikkei average rose 0.54 percent to 26,788.47, with Uniqlo parent Fast Retailing rising 8.7 percent and video game maker Nintendo rallying 3.2 percent. The broader Topix index ended marginally lower at 1,892.50.

Kansai Electric Power gained 2.4 percent and Chubu Electric Power added 1.8 percent after Prime Minister Fumio Kishida said the government will do what it can to ensure as many as nine reactors are online this winter.

Seoul stocks eked out modest gains, with automakers and technology companies pacing the gainers. The Kospi average closed 0.37 percent higher at 2,330.98 while the Korean won hit the lowest level in over 13 years against the U.S. dollar.

Samsung Electronics climbed 4.4 percent and SK Hynix jumped 5 percent after TSMC announced its net profit soared 76 percent to a record level in the April-June quarter.

Australian markets fell notably, dragged down by miners after Rio Tinto flagged dismal second-half earnings. The benchmark S&P ASX 200 fell 0.68 percent to 6,605.60 while the broader All Ordinaries index closed 0.74 percent lower at 6,798.

Rio Tinto shares tumbled 2.9 percent, rival BHP lost 3.5 percent and Fortescue Metals Group plunged 6.2 percent. Gold miners Newcrest and Northern Star gave up 3-4 percent.

Across the Tasman, New Zealand's NZX-50 index dropped 0.58 percent to 11.122.61 on growth worries after a survey showed the country's manufacturing sector fell back into contraction territory in June.

Jewelry retailer Michael Hill jumped 3.7 percent after reporting improves sales and margins in the June quarter.

Singapore's Straits Times index edged up slightly after the country's central bank tightened its monetary policy in an off-cycle move.

U.S. stocks climbed well off their worst levels of the day on Thursday but still ended broadly lower, reflecting disappointing earnings news from financial giants JPMorgan Chase and Morgan Stanley.

A key measure of U.S. wholesale and business prices increased more than expected in June and new claims for unemployed benefits hit an eight-month high last week, adding to fears of a possible recession.

The Dow ended half a percent lower and the S&P 500 edged down 0.3 percent while the tech-heavy Nasdaq Composite finished on a flat note.

read more
Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.
RTTNews | 41 минут назад
European Stocks Close On Mixed Note

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.
RTTNews | 57 минут назад
TSX Up Marginally; Energy Stocks Rise

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.
RTTNews | 2ч 4мин назад
U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.
RTTNews | 2ч 40мин назад
Eurozone Investor Confidence Strongest In A Year: Sentix

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.
RTTNews | 5ч 34мин назад
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Tuesday morning with investors looking for directional clues as they await the outcome of the U.S.-China trade negotiations.
RTTNews | 6ч 27мин назад
FTSE 100 Advances; Persimmon, Marks & Spencer Among Top Gainers

FTSE 100 Advances; Persimmon, Marks & Spencer Among Top Gainers

Despite data showing an increase in the nation's unemployment rate, U.K. stocks are up in positive territory a little past noon on Tuesday on selective buying amid some optimism over the ongoing U.S.-China trade talks in London.
RTTNews | 7ч 1мин назад
CAC 40 Down Marginally In Cautious Trade

CAC 40 Down Marginally In Cautious Trade

French stocks are largely subdued on Tuesday as investors refrain from making significant moves while awaiting the outcome of the ongoing trade talks between U.S. and Chinese officials in London.
RTTNews | 7ч 46мин назад