Asian Shares Extend Losses On Worries About US Fiscal Position

RTTNews | 728 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
Thai Stock Market May Run Out Of Steam On Thursday

Thai Stock Market May Run Out Of Steam On Thursday

The Thai stock market has finished higher in three straight sessions, collecting more than 30 points or 2.5 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,245-point plateau although it may spin its wheels on Thursday.
RTTNews | 24 dakika önce
Australia Export Prices Sink 4.5% In Q2

Australia Export Prices Sink 4.5% In Q2

Export prices in Australia were down 4.5 percent on quarter and 3.3 percent on year in the second quarter of 2025, the Australian Bureau of Statistics said on Thursday.
RTTNews | 32 dakika önce
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday, snapping a four-session losing streak, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling below the 41,950 level, with gains in financial and technology stocks and a mixed performance in most other sectors.
RTTNews | 37 dakika önce
Australia Retail Sales Rise 1.2% In June

Australia Retail Sales Rise 1.2% In June

Retail sales in Australia were up a seasonally adjusted 1.2 percent on month in June, the Australian Bureau of Statistics said on Thursday - coming in at A$37.906 billion.
RTTNews | 37 dakika önce
Australia Building Approvals Jump 11.9% In June

Australia Building Approvals Jump 11.9% In June

The total number of building approvals issued in Australia was up a seasonally adjusted 11.9 percent on month in June, the Australian Bureau of Statistics said on Thursday - standing at 17,076.
RTTNews | 42 dakika önce
China Manufacturing PMI Slips In July

China Manufacturing PMI Slips In July

The manufacturing sector in China continued to contract in July, and at a faster rate, the latest survey from the National Bureau of Statistics showed on Thursday with a manufacturing PMI score of 49.3.
RTTNews | 49 dakika önce
Lower Open Called For Indonesia Stock Market

Lower Open Called For Indonesia Stock Market

The Indonesia stock market on Wednesday halted the five-day winning streak in which it had jumped more than 260 points or 2.8 percent. The Jakarta Composite Index now sits just beneath the 7,550-point plateau and it may tick lower again on Thursday.
RTTNews | 54 dakika önce
Australian Market Modestly Lower

Australian Market Modestly Lower

The Australian market is trading modestly lower on Thursday, reversing some of the gains in the previous three sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,750 level, with weakness cross most sectors led by mining and energy stocks.
RTTNews | 1s 1 dakika önce