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DAX Slips Into Red As Yields Rise After BOJ Policy Tweak
(RTTNews) - German stocks declined on Friday as bond yields climbed after the Bank of Japan eased controls on its government bond market.
The downside remained capped after official data showed the German economy stabilized in the second quarter after two consecutive contractions.
GDP remained flat in the second quarter, following a 0.1 percent drop in the first quarter and 0.4 percent decline in the fourth quarter of 2022, Destatis reported. GDP was expected to climb 0.1 percent.
On a yearly basis, price-adjusted GDP dropped 0.6 percent in contrast to the 0.1 percent rise a quarter ago.
Calendar-adjusted GDP was down 0.2 percent, the same rate of fall as reported in the first quarter.
The benchmark DAX was down 66 points, or 0.4 percent, at 16,339 after climbing 1.7 percent in the previous session.
In corporate news, energy networks operator E. ON rose half a percent after reporting higher profit in the first six months of the year and raising its full-year guidance. Chemical company BASF was down 0.6 percent after sales declined by 24.7 percent in the second quarter of 2023.
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Japan Shares May Extend Monday's Gains
The Japan stock market has moved higher in two of three trading days since the end of the two-day slide in which it had plunged nearly 2,200 points or 4.2 percent. The Nikkei 225 now rests just above the 50,900-point plateau and it may add to its winnings on Tuesday.
The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.
The Nikkei finished sharply higher on Monday following gains from the financial shares and technology stocks, while the automobile producers were mixed.
For the day, the index jumped 635.39 points or 1.26 percent to finish at 50,911.76 after trading between 50,392.44 and 50,969.50.
Among the actives, Nissan Motor accelerated 2.11 percent, while Mazda Motor stumbled 2.06 percent, Toyota Motor rose 0.42 percent, Honda Motor plunged 4.67 percent, Softbank Group spiked 2.56 percent, Mitsubishi UFJ Financial and Mizuho Financial both collected 0.67 percent, Sumitomo Mitsui Financial added 0.65 percent, Mitsubishi Electric gathered 0.33 percent, Sony Group improved 0.59 percent, Panasonic Holdings perked 0.15 percent and Hitachi rallied 2.15 percent.
The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.
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KOSPI May Break Through 4,100-Point Barrier
The South Korea stock market has tracked higher in two of three trading days since the end of the two-day slide in which it had plummeted almost 220 points or 5 percent. The KOSPI sits just beneath the 4,075-point plateau and it's tipped to open in the green again on Tuesday.
The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.
The KOSPI finished sharply higher on Monday with gains across the board, especially among the financial shares, technology stocks and industrials.
For the day, the index surged 119.48 points or 3.02 percent to finish at 4,073.24 after trading between 3,984.24 and 4,092.91. Volume was 334 million shares worth 16.5 trillion won. There were 804 gainers and 98 decliners.
Among the actives, Shinhan Financial collected 1.81 percent, while KB Financial spiked 4.28 percent, Hana Financial vaulted 4.57 percent, Samsung Electronics jumped 2.76 percent, Samsung SDI strengthened 2.94 percent, LG Electronics climbed 1.47 percent, SK Hynix rallied 4.48 percent, LG Chem expanded 3.93 percent, Lotte Chemical skyrocketed 7.12 percent, SK Innovation accelerated 3.97 percent, POSCO Holdings improved 1.51 percent, SK Telecom added 0.94 percent, KEPCO soared 4.88 percent, Hyundai Mobis gained 3.62 percent, Hyundai Motor increased 2.46 percent, Kia Motors surged 3.27 percent and Naver was unchanged.
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Japan Current Account Data Due On Tuesday
Japan will on Tuesday release September figures for current account, highlighting a modest day for Asia-Pacific economic activity. The current account surplus is seen at 2.26 trillion yen, down from 246.35 trillion yen in the previous month.
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Swiss Market Settles On Buoyant Note
The Switzerland market turned in a fine performance on Monday, in line with markets across the globe, amid hopes the U.S. government shutdown will end soon.
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European Markets Close On Strong Note On Hopes Of End To US Government Shutdown
European stocks closed on a strong note on Monday and most of the major markets rebounded from multi-week lows posted in the previous session, as rising prospects of an end to the government shutdown in the U.S., helped underpin sentiment.
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Technology, Materials Stocks Climb Higher; TSX Up Over 1%
After with a strong positive gap and moving further up north, the Canadian market remains high up in positive territory around noon on Monday with stocks from materials and technology sectors scoring impressive gains.
The mood in the market is quite bullish amid prospects of an end to the US government shutdown.
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Bay Street Looks Set To Open On Firm Note
Canadian stocks are likely to open on a firm note on Monday, riding on higher commodity prices and prospects of an end to the government shutdown in the U.S.
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Dollar Declines Amidst Uncertain Fed Policy Outlook
The U.S. Dollar slipped during the week ended November 7 amidst uncertainty surrounding the Fed's monetary policy outlook.
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