Asian Shares Fall Amid Rate Concerns, Political Unrest In Russia

RTTNews | 799 dagar sedan

(RTTNews) - Asian stocks ended mostly lower on Monday, with interest-rate worries and geopolitical tensions in focus.

Investors waited for more clarity after an abortive weekend mutiny by Russian mercenaries.

A softer dollar helped gold push higher while oil prices rose on fears that ongoing political issues in Russia may impact supply.

Chinese and Hong Kong stocks fell as tourism and mobility data during the three-day Dragon Boat Festival pointed to weak economic recovery.

China's Shanghai Composite index tumbled 1.48 percent to 3,150.62 as traders returned to their desks after a long holiday weekend.

Hong Kong's Hang Seng index settled 0.51 percent lower at 18,794.13 on disappointment over a lack of big stimulus package to boost Chinese growth.

Japanese shares ended lower for a third consecutive session after the summary of opinions of the Bank of Japan's (BOJ) June policy meeting showed that a board member hinted at the need to discuss the yield curve control policy.

The Nikkei average fluctuated before closing 0.25 percent lower at 32,698.81. The broader Topix index edged down 0.20 percent to close at 2,260.17, with chip-related stocks such as Advantest and Tokyo Electron falling around 1 percent each.

JSR Corp jumped 21.7 percent after receiving a multibillion-dollar buyout offer from state-backed Japan Investment Corp.

The safe-haven yen rose marginally after Japan's top currency diplomat Masato Kanda said that the recent yen moves were "rapid" and authorities will respond appropriately to excessive currency moves.

Seoul stocks advanced, led by gains among automakers and tech stocks. The Kospi average rose 0.47 percent to 2,582.20, recovering from an early slide. Samsung Electronics gained 1.1 percent and Kia Motor Corp rallied 2.5 percent.

Australian stocks ended in the red, with banks and commodity stocks underperforming ahead of domestic inflation data due later in the week. Upcoming jobs and retail sales data also remained on investors' radar.

The benchmark S&P/ASX 200 index dropped 0.29 percent to 7,078.70, extending losses to a fourth consecutive session. The broader All Ordinaries index finished 0.30 percent lower at 7,264.10.

Gold miners Newcrest and Northern Star Resources climbed 1-2 percent as bullion prices benefited from a weaker dollar.

Grocery wholesaler and distributor Metcash soared 4.7 percent after delivering strong annual results.

Across the Tasman, New Zealand's benchmark S&P/NZX 50 index declined 0.84 percent to 11,638.68.

U.S. stocks ended lower on Friday amid worries that more interest rate hikes by the Federal Reserve would tip the world's largest economy into a recession.

The tech-heavy Nasdaq Composite tumbled 1 percent to snap an eight-week winning streak and post its worst weekly performance since March.

The S&P 500 declined 0.8 percent to snap five consecutive weeks of gains while the Dow declined 0.7 percent to end a three-week positive run.

Swiss Shares Extend Losing Streak

The Swiss stock market closed under pressure again on Tuesday, stretching its losing streak to three sessions while giving up more than 130 points or 1.1 percent in that span.

RTTNews | 2h 27minuter sedan

Eurozone Inflation Path Suggests ECB Unlikely To Cut Rates Further

Euro area inflation modestly accelerated to a four-month high, and the core figure was steady around the 2 percent target in August as a slight slowing in both food price growth and services inflation was offset by a smaller decline in energy prices, which suggests that the European Central Bank is set to hold interest rates steady in future policy sessions.

RTTNews | 2h 33minuter sedan

European Markets Finish In The Red On Tuesday

The major European markets finished firmly under water on Tuesday after Eurostat data showed Eurozone inflation rose to 2.1 percent last month, climbing above the European Central Bank's 2 percent target for the first time since April driven by higher prices for food, alcohol and tobacco.

RTTNews | 2h 40minuter sedan

U.S. Construction Spending Unexpectedly Edges Lower In July

A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.

RTTNews | 4h 41minuter sedan