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DAX Slips As Inflation Rises
(RTTNews) - German stocks fell on Tuesday after data showed German consumer price inflation accelerated somewhat amid a rebound in energy costs, as initially estimated in December.
The consumer price index registered an annual increase of 3.7 percent in December, following a 3.2 percent rise in November, Destatis said. That was in line with the flash data published on January 4.
Inflation, based on the harmonized index of consumer prices, also accelerated to 3.8 percent in December from 2.3 percent a month ago, in line with the flash data.
The benchmark DAX was down 102 points, or 0.6 percent, at 16,520 after losing half a percent in the previous session.
Luxury fashion brand HUGO BOSS plunged 10 percent after Q4 EBIT missed estimates.
Wind turbine maker Nordex edged down slightly despite reporting a significant growth in order intake in the fourth quarter and fiscal 2023.
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Malaysia Stock Market Expected To Open To The Upside On Wednesday
The Malaysia stock market on Tuesday wrote a finish to the three-day winning streak in which it had collected almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,580-point plateau although it's likely to rebound on Wednesday.
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Japan Stock Market May See Renewed Support
The Japan stock market on Tuesday halted the two-day winning streak in which it had advanced almost 200 points or 0.5 percent. The Nikkei 225 now rests just beneath the 42,400-point plateau although it's expected to open in the green on Wednesday.
The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.
The Nikkei finished sharply lower on Tuesday following losses from the financial shares, technology stocks and automobile producers.
For the day, the index slumped 413.42 points or 0.97 percent to finish at 42,394.40 after trading between 42,137.62 and 42,703.27.
Among the actives, Nissan Motor plummeted 6.25 percent, while Mazda Motor added 0.40 percent, Toyota Motor retreated 1.41 percent, Honda Motor tumbled 1.71 percent, Softbank Group dropped 0.91 percent, Mitsubishi UFJ Financial sank 0.72 percent, Mizuho Financial shed 0.45 percent, Sumitomo Mitsui Financial skidded 1.01 percent, Mitsubishi Electric tumbled 1.91 percent, Sony Group declined 1.87 percent, Panasonic Holdings slumped 1.11 percent and Hitachi contracted 1.63 percent.
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Rebound Tipped For South Korea Stock Market
The South Korea stock market on Tuesday ended the three-day winning streak in which it had improved almost 80 points or 2.6 percent. The KOSPI now sits just shy of the 3,180-point plateau although it may reverse those losses on Wednesday.
The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.
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Australia Construction Work Data Due On Wednesday
Australia will on Wednesday see Q2 numbers for construction work done, highlighting a light day for Asia-Pacific economic activity.
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U.S. Dollar Falls Against Majors
The U.S. dollar dropped against its major counterparts in the New York session on Tuesday.
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TSX Modestly Higher As Financials, Mining Stocks Move Up
Despite concerns about global trade, and political uncertainty in Europe, the Canadian market is modestly higher Tuesday afternoon, supported by gains in materials, industrials and financials sectors.
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Swiss Market Settles Weak
After opening with a big negative gap Tuesday morning, the Swiss market gradually recovered some lost ground, and even managed a brief spell in positive territory midway through the session, but failed to sustain momentum and finally ended the day's session in the red.
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European Stocks Close Lower On Political Concerns, Tariff Worries
European stocks closed weak on Tuesday, weighed down by political uncertainty in France, and lingering concerns about tariffs and their impact on global economic growth.
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