Asian Shares Extend Losses On Worries About US Fiscal Position

RTTNews | 727 gün önce
Asian Shares Extend Losses On Worries About US Fiscal Position

(RTTNews) - Asian stocks traded mostly lower on Thursday, adding to steep losses in the previous session as the dollar surged and Treasury yields spiked following a U.S. credit rating downgrade from Fitch and better-than-expected ADP employment data.

Gold held near three-week lows while oil prices were up slightly after settling down about 2 percent in the U.S. trading session overnight.

U.S. private sector employment increased by 324000 jobs in July, well in advance of consensus forecast of 190,000 roles, and annual pay was up 6.2 percent year-over-year, adding to pressure on the Federal Reserve to maintain restrictive policy.

Investors also await Apple Inc. earnings due later today, with the iPhone maker expected to report its third consecutive year-over-year revenue decline. Amazon will also unveil its quarterly earnings later in the day.

Chinese shares fell, with the Shanghai Composite index falling around 0.2 percent after Morgan Stanley cut its rating on Chinese stocks. Hong Kong's Hang Seng index was down 0.1 percent.

Japan's Nikkei average was down over 1 percent as the yen held firm and data showed service sector activity in the country softened in July.

Seoul stocks were seeing modest losses, with the Kospi average down about 0.3 percent amid concerns about the recent rise in Treasury yields and the steepening of the yield curve.

Australian markets traded lower, with tech and commodity-related stocks pacing the declines. The benchmark S&P ASX 200 was down half a percent.

Across the Atlantic, New Zealand's benchmark S&P NZX-50 index was down 0.3 percent.

U.S. stocks and bonds suffered a wave of selling overnight after a surprise downgrade of the country's debt rating by Fitch, citing fiscal deterioration and repeated debt ceiling standoffs.

Also, data showed U.S. private sector employment jumped by much more than expected in July, reviving Fed rate hike bets.

The tech-heavy Nasdaq Composite plunged 2.2 percent while the Dow lost 1 percent and the S&P 500 gave up 1.4 percent.

European stocks also closed sharply lower on Wednesday amid worries about slowing global growth and the mounting cost to finance U.S. debt as interest rates rise.

The German DAX and the U.K.'s FTSE 100 both fell around 1.4 percent while France's CAC 40 shed 1.3 percent.

read more
U.S. GDP Rebounds In Q2 Amid Sharp Pullback By Imports

U.S. GDP Rebounds In Q2 Amid Sharp Pullback By Imports

The Commerce Department released a report on Wednesday showing the U.S. economy rebounded by more than expected in the second quarter of 2025. The report said real gross domestic product surged by 3.0 percent in the second quarter after falling by 0.5 percent in the first quarter. Economists had expected GDP to jump by 2.5 percent.
RTTNews | 11 dakika önce
U.S. Private Sector Job Growth Exceeds Estimates In July

U.S. Private Sector Job Growth Exceeds Estimates In July

Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by more than expected in the month of July. The report said private sector employment jumped by 104,000 jobs in July after slipping by a revised 23,000 jobs in June.
RTTNews | 26 dakika önce
Eurozone Economy Fares Better Than Expected In Q2

Eurozone Economy Fares Better Than Expected In Q2

The euro area economy logged better-than-expected growth in the second quarter but the pace of expansion slowed markedly as the first quarter performance was inflated after U.S. importers frontloaded their orders to reduce the cost burden of higher tariffs. Gross domestic product grew 0.1 percent sequentially, after rising 0.6 percent in the first quarter, preliminary flash estimate from Eurostat.
RTTNews | 59 dakika önce
Eurozone Economic Confidence Rises To 5-Month High

Eurozone Economic Confidence Rises To 5-Month High

Euro area economic sentiment improved to a five-month high in July largely driven by stronger confidence in industry, services and retail trade, survey data from the European Commission showed Wednesday. The economic sentiment index rose to 95.8 in July from 94.2 in the previous month. This was the highest reading since February and remained above forecast of 94.5.
RTTNews | 2s 19 dakika önce
FTSE 100 Down 0.3%; HSBC Holdings Slips On Lower Earnings

FTSE 100 Down 0.3%; HSBC Holdings Slips On Lower Earnings

The UK market, which moved modestly higher earlier in the session, is down in negative territory in early afternoon trades on Wednesday with stocks turning in a mixed performance as investors react to a slew of earnings announcements, and await the Federal Reserve's monetary policy announcement.
RTTNews | 2s 27 dakika önce