Asian Shares Climb As Fed Hike Bets Ease

RTTNews | 957 gün önce

(RTTNews) - Asian stocks advanced on Wednesday as weak U.S. data released overnight boosted expectations of a less hawkish Federal Reserve.

Investors are pricing in a smaller rate hike in December after a 75-basis point hike in November. Third-quarter U.S. GDP data, due later this week, is expected to offer more clues on the economic and rate outlook.

Regional stocks gave up some early gains in the wake of unexpectedly weak earnings from technology giants Alphabet Inc and Microsoft.

Chinese and Hong Kong stocks rose notably, recovering further from a sharp selloff earlier this week on concerns that President Xi Jinping will continue with his ideology-driven approach at the cost of economic growth.

China's Shanghai Composite index rose 0.78 percent to 2,999.50 while Hong Kong's Hang Seng index gained 1.0 percent to close at 15,317.67.

Japanese shares rose for the third consecutive session to reach a seven-week high. The Nikkei average climbed 0.67 percent to 27,431.84 while the broader Topix index ended 0.58 percent higher at 1,918.21.

Denka shares surged 6.4 percent after the chemical products manufacturer announced it would exit its cement business. Shipping companies led losses, with Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha both falling around 3 percent.

The Japanese yen continued weakening against the dollar as traders extended beets against currency market intervention by the government. Yields fell sharply after the Bank of Japan again said it would increase bond buying operations.

Seoul stocks gained on hopes for slower U.S. rate hikes. The Kospi average inched up 0.65 percent to 2,249.56. Samsung Electronics and Samsung SDI both rose about 3 percent. Battery maker LG Energy Solution jumped 3.5 percent after reporting a turnaround in the third-quarter earnings.

Australian markets ended off their day's highs after data showed inflation reached a 32-year high last quarter, pointing to more economic ructions and putting additional pressure on the Reserve Bank to raise interest rates further.

The benchmark S&P/ASX 200 index inched up 0.18 percent to 6,810.90 while the broader All Ordinaries index closed 0.16 percent higher at 7,005.10.

Coles Group, the second-largest supermarket chain in the country, fell 2.7 percent after it flagged rising cost pressures due to elevated inflation and adverse weather. Across the Tasman, New Zealand's benchmark S&P NZX-50 index rallied 1.32 percent to 11,046.50.

Overnight, U.S. stocks rallied to score a three-day winning streak after a sharp pullback by Treasury yields and better than expected third quarter earnings from the likes of General Motors and Coca-Cola.

The Dow rose 1.1 percent, the tech-heavy Nasdaq Composite jumped 2.3 percent and the S&P 500 added 1.6 percent to reach their best closing levels in over a month as weak data on housing prices and consumer confidence stoked hopes the Fed will slow its aggressive pace of interest rate hikes.

Australian Market Doubles Early Gains In Mid-market

The Australian stock market is doubling its early gains in mid-market trading on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,600 level, with gains in iron ore miners, financial, technology and energy stocks partially offset by weakness in gold miners.

RTTNews | 18 dakika önce

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid easing trade war tensions between the US and China after the two superpowers began high-level trade talks in London, with negotiations expected to continue on Tuesday. The tariff war between the two countries has already rattled the global economy.

RTTNews | 59 dakika önce

Sensex, Nifty Seen Higher At Open As Sino-US Talks Continue

Indian shares look set to open on a positive note Tuesday as top officials from the U.S. and China continue their trade talks for a second day today to resolve their differences and ease tensions over rare-earth minerals and technology shipments.

RTTNews | 1s 27 dakika önce

Thai Bourse May Extend Losing Streak

The Thai stock market has ticked lower in back-to-back sessions, slipping more than 5 points or 0.4 percent along the way. The Stock Exchange of Thailand now rests just above the 1,135-point plateau and it may take further damage on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

RTTNews | 1s 58 dakika önce

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Tuesday, extending the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 moving up to near the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks were the only weak spot.

RTTNews | 2s 19 dakika önce

Lower Open Anticipated For Indonesia Stock Market

Ahead of the long holiday weekend for Eid-al-Adha, the Indonesia stock market had moved higher in back-to-back sessions, gathering almost 70 points or 1 percent along the way. The Jakarta Composite Index now rests just above the 7,110-point plateau although it's likely to open under pressure on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference. The JCI finished modestly higher on Thursday following gains from the financials and mixed performances from the resource and cement companies. For the day, the index added 44.39 points or 0.63 percent to finish at 7,113.42 after trading between 7,083.89 and 7,136.64. Among the actives, Bank CIMB Niaga sank 0.87 percent, while Bank Mandiri climbed 1.00 percent, Bank Negara Indonesia spiked 2.79 percent, Bank Central Asia shed 0.56 percent, Bank Rakyat Indonesia collected 0.49 percent, Indosat Ooredoo Hutchison added 0.48 percent, Indocement advanced 0.98 percent, Semen Indonesia tumbled 1.79 percent, Indofood Sukses Makmur dropped 0.91 percent, United Tractors perked 0.12 percent, Energi Mega Persada plunged 4.24 percent, Astra Agro Lestari retreated 1.26 percent, Aneka Tambang tanked 2.82 percent, Vale Indonesia plummeted 4.13 percent, Timah rallied 2.07 percent, Bumi Resources soared 2.50 percent and Astra International and Bank Danamon Indonesia were unchanged.

RTTNews | 2s 28 dakika önce

Hong Kong Shares Tipped To Open In The Red On Tuesday

The Hong Kong stock market bounced higher again on Monday, one session after ending the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,180-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

RTTNews | 2s 43 dakika önce

Australian Market Notably Higher

The Australian stock market is trading notably higher on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,550 level, with gains across most sectors led by technology and energy stocks. Gold miners were the only weak spot.

RTTNews | 2s 48 dakika önce

EURUSD	1.14029	GBPUSD	1.35424	AUDUSD	0.65282
USDJPY	144.825	USDCAD	1.37015	USDCHF	0.82235

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Asian Shares Climb As Fed Hike Bets Ease