Asian Shares Mixed As China Data Disappoints

RTTNews | Pred 741 dňami

(RTTNews) - Asian stocks ended mixed on Tuesday as a broad array of Chinese economic data missed expectations and the country's central bank cut a key interest rate in an effort to boost flagging growth.

While the yen hit its lowest level since November, the dollar index eased from a five-week high hit in the previous session.

Gold hovered near five-month lows while oil extended overnight losses on China demand concerns.

China's Shanghai Composite index fluctuated before finishing marginally lower at 3,176.18 as investors reacted to weak July consumer and business activity figures and the central bank's decision to cut two key interest rates to shore up the struggling economy.

Hong Kong's Hang Seng index fell 1.03 percent to 18,581.11 on concerns about China's frozen property sector and the outsized exposure of China's shadow banks.

China's industrial output and retail sales slowed last month, and fixed-asset investment growth also lost more momentum, suggesting that more support is needed to revitalize flagging economic growth.

Japanese shares advanced after data showed GDP grew for a third straight quarter in the April-June period, helped by brisk auto exports and tourist arrivals.

The Nikkei average rose 0.56 percent to 32,238.89 as chip-related shares followed their U.S. peers higher. The broader Topix index settled 0.41 percent higher at 2,290.31.

Advantest, Tokyo Electron and Screen Holdings gained between 1.7 percent and 1.9 percent. Sensor maker TDK added 2.5 percent.

Australian markets eked out modest gains as a surprise fall in wages growth in the year to June added to the case for the Reserve Bank to keep rates on hold.

The benchmark S&P ASX 200 rose 0.38 percent to 7,305 while the broader All Ordinaries index ended 0.36 percent higher at 7,520.40.

Healthcare stocks paced the gainers, with heavyweight CSL climbing 3.7 percent after posting a 10 percent rise in its full-year underlying profit. Cochlear surged 5.7 percent and Pro Medicus rallied 4.2 percent.

Across the Tasman, New Zealand's benchmark S&P NZX-50 index ended marginally lower at 11820.74. Markets in South Korea and India were closed for holidays.

U.S. stocks rose overnight, with technology stocks leading the surge on growing hopes of a soft landing in the U.S. economy and a rating upgrade of Nvidia by Morgan Stanley.

The Dow edged up marginally, the S&P 500 added 0.6 percent and the tech-heavy Nasdaq Composite surged 1 percent.

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | Pred 36 minútami

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | Pred 52 minútami

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | Pred 1 h 7 min