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CAC 40 Slightly Higher After PMI Data
(RTTNews) - French stocks were higher on Thursday amid expectations that the rate-hike cycle has ended globally, and rate cuts might begin next year.
The downside remained capped after a survey showed French business activity contracted again in November.
The HCOB flash November composite PMI - which comprises both the services and manufacturing sectors - slipped to 44.5 points from 44.6 in October.
Meanwhile, Eurozone business activity fell again in the month, stoking recession fears.
The PMI covering the bloc's overall economic health edged up to 47.1 from October's near three-year low of 46.5.
The benchmark CAC 40 was up 13 points, or 0.2 percent, at 7,274 after gaining 0.4 percent the previous day.
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Continued Consolidation Called For Singapore Shares
The Singapore stock market has moved lower in two straight sessions, sinking more than 15 points or 0.4 percent along the way. The Straits Times Index now sits just beneath the 3,920-point plateau and it may take further damage on Thursday.
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Renewed Selling Pressure Expected For Malaysia Shares
The Malaysia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had gained almost 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,525-point plateau and it's likely to head south again on Thursday.
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Japan Stock Market May Run Out Of Steam On Thursday
The Japan stock market has finished higher in four straight sessions, climbing more than 860 points or 2.5 percent along the way. The Nikkei 225 now sits just above the 38,420-point plateau although it's due for consolidation on Thursday.
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South Korea Shares Due For Consolidation
The South Korea stock market has finished higher in six straight sessions, collecting more than 210 points or 7.7 percent along the way. The KOSPI now rests just above the 2,900-point plateau although investors are likely to lock in gains on Thursday.
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New Zealand Card Retail Sales Data Due On Thursday
New Zealand will on Thursday release May figures for electronic card retail sales, highlighting a light day for Asia-Pacific economic activity. In April, sales were flat on month and down 0.3 percent on year.
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U.S. Dollar Declines After Softer-than-expected Inflation Data
The U.S. dollar dropped against its major counterparts in the New York session on Wednesday, as the consumer price index came in softer than expected in May.
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Swiss Market Fails To Hold Early Gains, Settle Modestly Lower
The Switzerland market ended modestly lower on Wednesday despite spending much of the day's trading session in positive territory.
Although the market gained some ground in positive territory, reacting to news about U.S. and Chinese officials reaching a framework to implement the Geneva consensus following two days of discussions in London, the mood turned cautious later on in the session.
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European Stocks Pare Early Gains, Close Mostly Lower
Despite U.S. and Chinese officials announcing an agreement in principle on a framework to ease trade disputes, European stocks failed to hold early gains and closed mostly lower on Wednesday, with the mood turning cautious as the plan is subject to approval by the presidents of the two nations.
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