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Higher Open Expected For Singapore Stock Market
The Singapore stock market turned lower again on Wednesday, one day after ending the two-day losing streak in which it had fallen almost 20 points or 0.6 percent. The Straits Times Index now sits just beneath the 3,140-point plateau although it's tipped to open in the green again on Thursday.
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Malaysia Shares Tipped To See Renewed Support On Thursday
The Malaysia stock market headed south again on Wednesday, one day after snapping the two-day slide in which it had eased less than a single point or 0.1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,530-point plateau although the market is expected to rebound on Thursday.
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Rebound Anticipated For South Korea Stock Market
The South Korea stock market on Wednesday snapped the three-day winning streak in which it had collected almost 75 points or 2.9 percent. The KOSPI market now rests just above the 2,620-point plateau although it's expected to bounce higher again on Thursday.
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Japan GDP Data Due On Thursday
Japan will on Thursday release preliminary Q4 numbers for gross domestic product, highlighting a busy day for Asia-Pacific economic activity. GDP is expected to add 0.2 percent on quarter and fall 1.0 percent on year after slipping 0.7 percent on quarter and 2.9 percent on year.
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TSX Rises 1.5% As Stocks Rebound On Bargain Hunting
The Canadian market ended on a buoyant note on Wednesday, with stocks rebounding from previous session's losses, thanks to hectic bargain hunting. Positive lead from U.S. and European markets helped as well.
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Dollar Turns Weak Against Major Rivals As Market Awaits More Economic Data
The U.S. dollar shed ground against most of its major counterparts on Wednesday, giving up some recent gains, as investors looked ahead to the next batch of U.S. economic data, due later in the week.
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Canadian Market Notably Higher As Stocks Rise On Bargain Hunting
Canadian stocks are notably higher Wednesday afternoon, with investors indulging in some bargain hunting after the sharp setback in the previous session. Positive cues from Wall Street and firm European stock, as well as some encouraging earnings updates are also contributing to market's rise.
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Swiss Market Ends On Firm Note
The Switzerland stock market started off on a flat note on Wednesday, but gained in strength as the day progressed and finally closed moderately higher. Positive global cues and a slew of strong earnings updates helped underpin sentiment.
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European Stocks Close Higher On Bargain Hunting, Strong Earnings Updates
European stocks closed lower on Wednesday, due largely to bargain hunting at scores of counters after the setback in the previous session due to hotter-than-expected U.S. consumer price inflation data.
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Australian Dollar Climbs Against Majors
The Australian dollar was higher against its major counterparts in the New York session on Wednesday, as U.S. stocks rebounded following a sell-off in the previous session.
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Progressive Corp. Reports January Profit Of $701 Mln
Insurer Progressive Corp. (PGR) reported that January 2024 net income was $700.7 million or $1.18 per share and net premiums written for the month were $5.50 billion and net premiums earned were $5.39 billion.
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Eurozone GDP Flatlines As Estimated
The euro area economy came to a standstill at the end of 2023 as initially estimated, but with nil growth the single currency bloc managed to escape a technical recession.
Gross domestic product posted nil growth in the fourth quarter after shrinking 0.1 percent in the preceding period, the flash estimate from Eurostat showed Wednesday.
At the same time, GDP gained 0.1 percent.
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UK's Stable Inflation Raises Hopes Of Rate Cut
UK consumer price inflation remained stable unexpectedly in January raising hopes of an interest rate cut from the Bank of England as early as June. Data from the Office for National Statistics published on Wednesday revealed that the consumer price index, or CPI, advanced 4.0 percent on a yearly basis, the same rate as seen in December. Inflation was forecast to climb to 4.1 percent.
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