Swiss Market Ends Lower On Weak Data

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(RTTNews) - The Switzerland stock market ended on a weak note on Tuesday, hurt by disappointing consumer confidence data.

Survey results from the State Secretariat for Economic Affairs, or SECO, showed Swiss consumer confidence weakened to the lowest level since the survey began in 1972.

The report said the consumer confidence index fell more-than-expected to -46.6 in the fourth quarter from -41.7 in the preceding period. Economists had expected the reading to come in at -43.0.

The benchmark SMI, which fell into negative territory around mid afternoon after staying positive till then, ended the session with a loss of 44.28 points or 0.41% at 10,783.65. The index, which climbed to 10,926.54 in early trades, dropped to a low of 10,755.33 later in the day.

Lonza Group shares dropped more than 5%. Givaudan ended 1.6% down, while Geberit, Swisscom, Sika and Roche Holding lost 0.9 to 1.1%.

Sonova, Nestle and Zurich Insurance Group also closed weak.

Credit Suisse climbed about 1.7% after the Swiss lender confirmed an extraordinary general meeting will take place on November 23 to approve a proposed capital increase.

Richemont rallied nearly 3.25%. UBS Group, Logitech, ABB and Swiss Re gained 0.4 to 0.6%.

In the Mid Price Index, Bachem Holding ended lower by nearly 4%. Tecan Group drifted down nearly 3%. Ems Chemie Holding, Barry Callebaut, Clariant and Temenos Group lost 1.6 to 2%.

Zur Rose surged 3.77%, Swatch Group advanced 3.15%, and AMS gained about 2.5%.

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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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

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Indonesia Bourse May Hand Back Monday's Gains

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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.

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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.

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