Asian Markets Mostly Higher On Global Cues

RTTNews | 1061 gün önce
Asian Markets Mostly Higher On Global Cues

(RTTNews) - Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from the global markets on Friday, as fairly encouraging economic data from the U.S. and upbeat earnings updates from some top companies helped lift sentiment. Asian markets closed mostly mixed on Friday.

Traders also reacted positively to a slew of U.S. economic data, including a report showing retail sales jumped by more than expected in the month of June and U.S. consumer sentiment unexpectedly showed a modest improvement in the month of July.

The Australian stock market is modestly higher on Monday, recouping some of the losses in the previous session, with the benchmark S&P/ASX 200 staying above the 6,600 level, following the broadly positive cues from the global markets on Friday, boosted by gains in energy and materials stocks.

The benchmark S&P/ASX 200 Index is gaining 37.10 points or 0.56 percent to 6,642.70, after touching a high of 6,661.40 earlier. The broader All Ordinaries Index is up 41.90 points or 0.62 percent to 6,839.90. Australian stocks closed significantly lower on Friday.

Among the major miners, BHP Group is edging up 0.5 percent, OZ Minerals is gaining almost 3 percent, Rio Tinto is adding more than 1 percent, Fortescue Metals is up almost 1 percent and Mineral Resources is advancing 1.5 percent.

Oil stocks are mostly higher. Santos, Woodside Energy and Woodside Energy are gaining more than 1 percent each, while Origin Energy is adding almost 2 percent.

Among tech stocks, Afterpay owner Block is surging almost 4 percent and WiseTech Global is gaining more than 3 percent, while Xero is edging down 0.5 percent and Appen is down more than 2 percent. Zip is flat.

Gold miners are mostly higher. Gold Road Resources is losing almost 1 percent. Northern Star Resources, Newcrest Mining and Evolution Mining are edging up 0.2 to 0.4 percent, while Resolute Mining is adding almost 1 percent.

Among the big four banks, Commonwealth Bank is flat while Westpac is adding more than 1 percent and National Australia Bank is gaining almost 1 percent.

Shares in ANZ Banking are in a trading halt after Australia's fourth-largest lender offered to buy Australia's second-largest insurer Suncorp Group's banking unit for around A$4.9 billion. Suncorp shares are surging more than 6 percent. ANZ also withdrew from talks to buy software firm MYOB Group from private equity giant KKR & Co.

In the currency market, the Aussie dollar is trading at $0.681 on Monday.

The Japanese stock market is closed for Marine Day holiday. Japanese shares ended modestly higher on Friday to extend gains for a third straight session.

In the currency market, the U.S. dollar is trading in the lower 138 yen-range on Monday.

Elsewhere in Asia, South Korea and Hong Kong are up 1.4 and 1.1 percent, respectively. New Zealand, China, Singapore, Taiwan and Indonesia are higher by between 0.2 and 0.8 percent each. Malaysia is relatively flat.

On Wall Street, stocks showed a substantial move back to the upside during trading on Friday after trending lower over the past several sessions. With the strong upward move on the day, the Dow snapped a five-session losing streak.

The major averages saw further upside going into the close, ending the session at their best levels of the day. The Dow spiked 658.09 points or 2.2 percent to 31,288.26, the Nasdaq jumped 201.24 points or 1.8 percent to 11,452.42 and the S&P 500 surged 72.78 points or 1.9 percent to 3,863.16.

The major European markets all also showed substantial moves to the upside on the day. While the German DAX Index spiked 2.8 percent, the French CAC 40 Index surged by 2 percent and the U.K.'s FTSE 100 Index jumped by 1.7 percent.

Crude oil prices rose sharply on Friday, buoyed by reports that an increase in Saudi oil output is unlikely for now. West Texas Intermediate Crude oil futures for August ended higher by $1.81 or 1.9 percent at $97.59 a barrel. WTI crude futures shed nearly 7 percent in the week.

read more
Win Streak May Continue For South Korea Stock Market

Win Streak May Continue For South Korea Stock Market

The South Korea stock market has finished higher in seven straight sessions, collecting more than 225 points or 8.2 percent along the way. The KOSPI now rests just above the 2,920-point plateau and it's tipped to open in the green again on Friday.
RTTNews | 33 dakika önce
New Zealand Manufacturing PMI Data Due On Friday

New Zealand Manufacturing PMI Data Due On Friday

New Zealand will on Friday release May results for the manufacturing PMI from BusinessNZ, highlighting a light day for Asia-Pacific economic activity. In April, the PMI score was 53.9.
RTTNews | 1s 27 dakika önce
Taiwan Shares May Bounce Higher Again On Friday

Taiwan Shares May Bounce Higher Again On Friday

The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
RTTNews | 1s 50 dakika önce
Rebound Anticipated For Japan Stock Market

Rebound Anticipated For Japan Stock Market

The Japan stock market on Thursday ended the four-day winning streak in which it had climbed more than 860 points or 2.5 percent. The Nikkei 225 now sits just beneath the 38,175-point plateau although it may bounce higher again on Friday.
RTTNews | 1s 51 dakika önce
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | 5s 6 dakika önce
Canadian Market Up Slightly In Cautious Trade

Canadian Market Up Slightly In Cautious Trade

After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors. The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
RTTNews | 6s 50 dakika önce
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 9s 38 dakika önce
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 9s 41 dakika önce