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Amended: DAX Little Changed As GDP Contracts
(RTTNews) - German stocks were little changed on Friday after official data showed the German economy contracted slightly in the third quarter compared with the previous three months.
GDP declined 0.1 percent sequentially, confirming a first estimate, published in late October as the country languishes in a likely recession.
The German lfo business climate data for November is awaited later in the day.
The benchmark DAX was marginally higher at 15,998 after closing 0.2 percent higher in the previous session.
Tech stocks declined, with Infineon Technologies falling around half a percent as Treasury yields climbed on expectations that U.S. interest rates will remain elevated for longer. DAX Continental AG rallied 2.4 percent after Barclays upgraded shares of the automotive parts maker to "overweight."
(Amended: Corrected to remove duplicate headline)
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Little Movement Seen For Malaysia Stock Market
The Malaysia stock market has alternated between positive and negative finishes through the last seven trading days since the end of the two-day winning streak in which it had gathered almost 10 points or 0.6 percent. The Kuala Lumpur Composite Index now sits just above the 1,515-point plateau and it's expected to remain rangebound again on Tuesday.
The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
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Japan Stock Market Poised To End Losing Streak
The Japan stock market has finished lower in three straight sessions, stumbling more than 530 points or 1.4 percent along the way. The Nikkei 225 now rests just above the 38,350-point plateau although it may stop the bleeding on Tuesday.
The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The Nikkei finished modestly lower on Monday following losses from the financial shares, technology stocks and automobile producers.
For the day, the index dipped 49.14 points or 0.13 percent to finish at 38,354.09 after trading between 38,026.32 and 38,368.22.
Among the actives, Nissan Motor shed 0.46 percent, while Mazda Motor stumbled 2.01 percent, Toyota Motor fell 0.36 percent, Honda Motor retreated 1.23 percent, Mitsubishi UFJ Financial dropped 0.92 percent, Mizuho Financial lost 0.58 percent, Sumitomo Mitsui Financial eased 0.06 percent, Sony Group tanked 2.13 percent, Panasonic Holdings sank 0.67 percent, Hitachi declined 1.63 percent and Softbank Group was unchanged.
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Rebound Anticipated For South Korea Stock Market
The South Korea stock market on Monday snapped the five-day winning streak in which it had rallied almost 130 points or 4.3 percent to a three-year high. The KOSPI now rests just above the 3,010-point plateau although it's likely to bounce higher again on Tuesday.
The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
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Malaysia Inflation Data Due On Tuesday
Malaysia will on Tuesday release May data for consumer prices, highlighting a light day for Asia-Pacific economic activity. In April, inflation was up 0.1 percent on month and 1.4 percent on year.
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U.S. Dollar Lower After Fed Bowman's Comments
The U.S. dollar dropped against its major counterparts in the New York session on Monday, following dovish comments from Federal Reserve Governor Michelle Bowman.
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Swiss Stock Market Extends Losing Streak
The Swiss stock market spent all of Monday bouncing back and forth across the unchanged line, but a late swoon saw the SMI extend its losing streak to seven sessions - costing it more than 465 points or 4 percent in that span.
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European Stock Market Sink On Monday
European stocks finished modestly lower on Monday as investors waited for Iran's response to the weekend U.S. air strikes on its nuclear sites.
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Tesla Stock Gains As Robotaxi Hits On Austin Roads
Tesla Inc. officially launched its highly anticipated Robotaxi driverless taxi service in Austin, Texas, on Sunday. Currently, the company is providing service in limited areas of Austin. The vehicles were confined to certain streets, and the riders reportedly included investors and social-media influencers who live-streamed their trips. On the Nasdaq, Tesla shares are currently gaining around 7
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