Asian Shares Gain As Commodities Decline On Growth Worries

RTTNews | 1236 gün önce

(RTTNews) - Asian stocks found some support on Friday as a continuous decline in commodities from crude oil, to metals to cotton, helped ease fears around runaway inflation. The U.S. dollar slipped from recent highs, bond yields mostly fell and gold held steady while oil extended recent losses on concerns over a slowdown in fuel demand.

China's Shanghai Composite index closed 0.89 percent higher at 3,349.75 amid signs that the technology crackdown is softening. Hong Kong's Hang Seng index rallied 2.09 percent to 21,719.06 after China vowed more pro-growth policies.

Japanese shares advanced as tech stocks tracked overnight gains on Wall Street. The Nikkei average jumped 1.23 percent to 26,491.97 while the broader Topix index closed 0.81 percent higher at 1,866.72.

Chip-making equipment maker Tokyo Electron surged 4 percent, Advantest rallied 3.5 percent and Screen Holdings added 2.7 percent. Pharmaceutical company Shionogi & Co soared 5 percent on share buyback news.

The battered yen found some support after Japan's annual core consumer inflation topped the central bank's target for a second straight month in May but wage growth was subdued, casting doubt over the sustainability of cost-push inflation.

Seoul stocks rose sharply, a day after hitting a 19-month low on growing concerns about a recession. The Kospi average climbed 2.26 percent to settle at 2,366.60 as institutional investors bought beaten-down tech stocks.

Samsung Electronics rose 1.7 percent, SK Hynix gained 1.6 percent and Naver surged 5.8 percent.

Australian markets ended notably higher, helped by gains in technology stocks as commodity-related energy and mining stocks fell on recession concerns.

Buy now, pay later firm Zip Co jumped 21.6 percent and rival Block Inc climbed nearly 11 percent. Qantas Airways dropped 1.6 percent after slashing domestic flight schedules through March 2023.

The benchmark S&P/ASX 200 index rose 0.77 percent to 6,578.70 while the broader All Ordinaries index closed 1.06 percent higher at 6,762.40. New Zealand's stock market was closed for a public holiday.

U.S. stocks posted solid gains overnight and U.S. Treasury yields hit two-week lows as commodity prices continued to ease on worries about a possible global recession.

The Dow rose 0.6 percent, the tech-heavy Nasdaq Composite climbed 1.6 percent and the S&P 500 added 1 percent.

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and economic sentiment from Germany are the major economic reports due on Tuesday. At 2.00 am ET, the Office for National Statistics publishes UK labor market statistics. The jobless rate is forecast to rise to 4.9 percent in the three months to September from 4.8 percent in the preceding period.

RTTNews | 1s 17 dakika önce

European Shares Seen Higher As US Senate Passes Bill To End Shutdown

European stocks are seen opening on a positive note Tuesday after the U.S. Senate passed the funding bill to end the longest-running government shutdown in history.

RTTNews | 2s 26 dakika önce

Sensex, Nifty Modestly Lower In Cautious Trade

Indian shares were a tad lower on Tuesday despite firm cues from global markets and comments from U.S. President Donald Trump that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.

RTTNews | 3s 36 dakika önce

Australian Market Slips To Losses In Mid-market

The Australian stock market is slipping in to the red in mid-market trading on Tuesday after early gains, reversing some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,850 level, with weakness in financial and technology stocks partially offset by gains in mining and energy stocks.

RTTNews | 4s 39 dakika önce

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders react to further progress made towards ending the US government shutdown, with the US Senate commencing a series of votes on a package to reopen the government and end the longest shutdown on record. Asian markets closed mostly higher on Monday.

RTTNews | 4s 58 dakika önce

Sensex, Nifty Seen Opening Higher On Trade Deal Hopes

Indian shares look set to open on a positive note Tuesday after U.S. President Donald Trump indicated he would reduce the tariff rate on Indian goods "at some point," and that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.

RTTNews | 5s 31 dakika önce

Thai Shares Expected To Open To The Upside On Tuesday

The Thai stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,305-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | 6s 2 dakika önce

Rebound Tipped For Indonesia Stock Market

The Indonesia stock market on Monday snapped the three-day winning streak in which it had gained almost 160 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,390-point plateau although it's expected to see renewed support on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The JCI finished slightly lower on Monday as losses from the financials and telecoms were mitigated by support from the resource stocks and a mixed picture from the cement companies. For the day, the index eased 3.35 points or 0.04 percent to finish at the daily low of 8,391.24 after peaking at 8,478.15. Among the actives, Bank CIMB Niaga shed 0.57 percent, while Bank Mandiri fell 0.42 percent, Bank Danamon Indonesia collected 0.40 percent, Bank Negara Indonesia tumbled 1.78 percent, Bank Central Asia skidded 1.15 percent, Bank Rakyat Indonesia slumped 1.26 percent, Indosat Ooredoo Hutchison plunged 3.72 percent, Indocement improved 0.78 percent, Semen Indonesia plummeted 4.17 percent, Indofood Sukses Makmur slipped 0.35 percent, United Tractors rallied 1.36 percent, Energi Mega Persada surged 4.60 percent, Astra Agro Lestari dropped 0.96 percent, Aneka Tambang rose 0.34 percent, Vale Indonesia eased 0.22 percent, Timah soared 6.85 percent, Bumi Resources spiked 6.38 percent and Astra International was unchanged. The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

RTTNews | 6s 32 dakika önce

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