Indian Shares Tumble On US Rate Hike Concerns

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Indian Shares Tumble On US Rate Hike Concerns

(RTTNews) - Indian shares opened lower on Thursday, mirroring weak global cues on concerns about aggressive interest rate hikes by the U.S. Federal Reserve.

The dollar spiked and Treasury yields hit fresh highs after Cleveland Fed President Loretta Mester said policy makers should raise rates beyond 4 percent and deliver no rate cuts in 2023.

The benchmark S&P/BSE Sensex fell 490 points, or 0.8 percent, to 59,050 in early trade, while the broader NSE Nifty index was down 150 points, or 0.8 percent, at 17,610.

IT, financials and metal stocks were among the worst hit, with Infosys, SBI Life, TCS and Hindalco losing 2-3 percent.

ONGC fell 2.4 percent as oil extended recent losses on concerns over lower China demand.

SpiceJet slumped 6.5 percent after widening its quarterly net loss.

Tata Motors edged up slightly after it completed the acquisition of 100 percent stake in Tata Marcopolo Motors Limited.

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Taiwan Shares Due For Support On Wednesday

Taiwan Shares Due For Support On Wednesday

The Taiwan stock market has finished lower in four straight sessions, dropping more than 460 points or 2.2 percent in that span. The Taiwan Stock Exchange now sits just above the 21,330-point plateau, although it's likely to see bargain hunting on Wednesday.
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Singapore Bourse May Reclaim 3,900-Point Level

Singapore Bourse May Reclaim 3,900-Point Level

The Singapore 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 risen just 6 points or 0.15 percent. The Straits Times Index now sits just shy of the 3,900-point plateau and it's expected to open higher again on Wednesday.
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Malaysia Stock Market Tipped To Open In The Green

Malaysia Stock Market Tipped To Open In The Green

The Malaysia stock market has moved lower in back-to-back sessions, slipping almost 10 points or 0.7 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,525-point plateau although it's due for support on Wednesday.
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Win Streak May Continue For Japan Stock Market

Win Streak May Continue For Japan Stock Market

The Japan stock market has tracked higher in three straight sessions, accelerating almost 750 points or 2 percent along the way. The Nikkei 225 now sits just shy of the 27,725-point plateau and it may add to its winnings again on Wednesday.
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KOSPI Expected To Erase Tuesday's Losses

KOSPI Expected To Erase Tuesday's Losses

The South Korea stock market headed south again on Tuesday, one day after ending the two-day slide in which it had given up almost 35 points or 1.4 percent. The KOSPI now rests just above the 2,635-point plateau although it's expected to rebound again on Wednesday.
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New Zealand Rate Decision On Tap For Wednesday

New Zealand Rate Decision On Tap For Wednesday

The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and the announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The RBNZ is widely expected to trim its Official Cash Rate by 25 basis points, to 3.25 percent from 3.50 percent.
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U.S. Dollar Strengthens On Trump's Tariff Delay

U.S. Dollar Strengthens On Trump's Tariff Delay

The U.S. dollar was higher against its major counterparts in the New York session on Tuesday amid easing trade tensions between the U.S. and the European Union.
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European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European stocks closed on a positive note on Tuesday, continuing to benefit from U.S. President Donald Trump's decision to amid slightly easing concerns about a potential trade war following U.S. President Donald Trump's decision decision to wait till July 9th to implement the 50% tariffs he had threatened to impose on imports from the European Union.
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