More Pain Predicted For China Stock Market

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(RTTNews) - The China stock market has alternated between positive and negative finishes through the last six trading days since the end of the three-day losing streak in which it had slumped almost 55 points or 1.7 percent. The Shanghai Composite Index now sits just beneath the 3,190-point plateau and it's tipped to open under pressure again on Wednesday.

The global forecast for the Asian markets is soft on rising geopolitical tensions between the United States and China, and concerns that the economy is slowing. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

The SCI finished sharply lower on Tuesday following losses from the financials, properties and resource and energy companies.

For the day, the index plunged 73.69 points or 2.26 percent to finish at 3,186.27 after trading between 3,155.19 and 3,231.26. The Shenzhen Composite Index tanked 64.32 points or 2.92 percent to end at 2,138.17.

Among the actives, Industrial and Commercial Bank of China lost 0.46 percent, while Bank of China shed 0.66 percent, China Construction Bank dropped 0.90 percent, China Merchants Bank tumbled 1.77 percent, Bank of Communications fell 0.44 percent, China Life Insurance tanked 3.38 percent, Jiangxi Copper declined 2.66 percent, Aluminum Corp of China (Chalco) plummeted 4.54 percent, Yankuang Energy retreated 1.52 percent, PetroChina surrendered 1.92 percent, China Petroleum and Chemical (Sinopec) sank 0.73 percent, Huaneng Power plunged 4.28 percent, China Shenhua Energy stumbled 1.65 percent, Gemdale slumped 3.16 percent, Poly Developments skidded 1.29 percent, China Vanke dropped 2.07 percent and China Fortune Land was down 2.76 percent.

The lead from Wall Street is negative as the major averages opened deep in the red on Tuesday, pared some of the losses but still closed well in negative territory.

The Dow plummeted 402.23 points or 1.23 percent to finish at 32,396.17, while the NASDAQ dipped 20.22 points or 0.16 percent to close at 12,348.76 and the S&P 500 sank 27.44 points or 0.67 percent to end at 4,091.19.

The weakness that emerged on Wall Street came as tensions climbed the U.S. and China due to U.S. House Speaker Nancy Pelosi's visit to Taiwan.

In economic news, the Labor Department said the number of job openings in the United States fell by 605,000 from a month earlier to 10.7 million in June, the lowest in nine months and below market expectations of 11 million.

Crude oil futures settled higher Tuesday, with traders weighing demand and supply prospects and looking ahead to this week's OPEC+ meeting. West Texas Intermediate Crude oil futures for September ended higher by $0.53 or 0.6 percent at $94.42 a barrel.

Closer to home, China also will see July results for its services and composite indexes from Caixin later this morning; in June, their scores were 54.5 and 55.3, respectively.

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

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Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

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Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

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Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

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Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2h 7minuter sedan

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2h 22minuter sedan

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

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China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | 2h 37minuter sedan

EURUSD	1.16297	GBPUSD	1.34561	AUDUSD	0.64762
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