DAX Retreats On Growth, Inflation Concerns

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DAX Retreats On Growth, Inflation Concerns

(RTTNews) - German stocks fell sharply on Thursday amid worries that aggressive rate hikes by the Federal Reserve and other central banks in Europe and Asia will dent economic growth.

Germany's manufacturing sector contracted for a second month in a row in August, a survey showed earlier today, while retail sales rose unexpectedly in July as a result of a COVID-free summer tourism season.

Germany's central bank head said Wednesday that "inflation rates will not come back to their target by themselves" and the European Central Bank should act "decisively" to preserve the credibility of its inflation target.

The benchmark DAX was down 183 points, or 1.4 percent, at 12,651 after declining 1 percent in the previous session.

Flag carrier Deutsche Lufthansa fell nearly 3 percent after a pilots' trade union decided on a day-long strike for Friday, September 2, following a warning strike by ground staff in July,

Tech stocks were losing ground, with Infineon down 2.5 percent.

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Sensex, Nifty Seen Little Changed Before RBI's Rate Decision

Sensex, Nifty Seen Little Changed Before RBI's Rate Decision

Indian shares look set to open on a flat note Friday as investors await the Reserve Bank of India's (RBI) monetary policy decision later in the day, with the central bank widely expected to cut interest rates by 25 basis points for the third consecutive time.
RTTNews | 1h 57minuter sedan
Asian Shares Muted In Lackluster Trade

Asian Shares Muted In Lackluster Trade

Asian stocks were mixed in lackluster trade on Friday despite U.S. President Donald Trump describing a phone call with his Chinese counterpart as "very good" and saying it "resulted in a very positive conclusion for both countries."
RTTNews | 2h 4minuter sedan
Thai Stock Market May Head South Again On Friday

Thai Stock Market May Head South Again On Friday

The Thai stock market on Thursday ended the two-day slide in which it had slumped more than 30 points or 2.4 percent. The Stock Exchange of Thailand now rests just above the 1,140-point plateau although it may tick lower again on Friday.
RTTNews | 3h 2minuter sedan
China Shares Due For Consolidation On Friday

China Shares Due For Consolidation On Friday

The China stock market has finished higher in three straight sessions, advancing more than 35 points or 1.1 percent along the way. The Shanghai Composite Index now sits just above the 3,375-point plateau although it's looking at a soft start on Friday.
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Hong Kong Bourse May Spin Its Wheels On Friday

Hong Kong Bourse May Spin Its Wheels On Friday

The Hong Kong stock market has moved higher in three consecutive sessions, accelerating almost 750 points or 3.5 percent along the way. The Hang Seng Index now sits just above the 23,900-point plateau although it's likely to be stuck in neutral on Friday.
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Profit Taking Expected For Taiwan Stock Market

Profit Taking Expected For Taiwan Stock Market

The Taiwan stock market has moved higher in three straight sessions, accelerating almost 680 points or 3.2 percent along the way. The Taiwan Stock Exchange now sits just beneath the 21,675-point plateau although investors may cash in on Friday.
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Japan Household Spending Sinks 1.8% In April

Japan Household Spending Sinks 1.8% In April

The average of household spending in Japan was down a seasonally adjusted 1.8 percent on month in April, the Ministry of Internal Affairs and Communications said on Friday - coming in at 325,717 yen.
RTTNews | 4h 47minuter sedan
Rally May Stall For Malaysia Stock Market

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in two straight sessions, collecting almost 15 points or 1 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,520-point plateau although it may run out steam on Friday.
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