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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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Singapore Bourse May Extend Thursday's Gains
The Singapore stock market on Thursday ended the two-day slide in which it had fallen more than 15 points or 0.4 percent. The Straits Times Index now sits just above the 3,920-point plateau and it's tipped to open to the upside again on Friday.
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Malaysia Stock Market May See Additional Support
The Malaysia stock market has ticked higher in consecutive trading days, gathering almost 10 points or 0.6 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,525-point plateau and it may add to its winnings again on Friday.
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Win Streak May Continue For South Korea Stock Market
The South Korea stock market has finished higher in seven straight sessions, collecting more than 225 points or 8.2 percent along the way. The KOSPI now rests just above the 2,920-point plateau and it's tipped to open in the green again on Friday.
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New Zealand Manufacturing PMI Data Due On Friday
New Zealand will on Friday release May results for the manufacturing PMI from BusinessNZ, highlighting a light day for Asia-Pacific economic activity. In April, the PMI score was 53.9.
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Taiwan Shares May Bounce Higher Again On Friday
The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
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Rebound Anticipated For Japan Stock Market
The Japan stock market on Thursday ended the four-day winning streak in which it had climbed more than 860 points or 2.5 percent. The Nikkei 225 now sits just beneath the 38,175-point plateau although it may bounce higher again on Friday.
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U.S. Dollar Weakens After Soft PPI Data
The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
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Canadian Market Up Slightly In Cautious Trade
After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors.
The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
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