Bay Street Likely To Open On Firm Note

RTTNews | 951 gün önce

(RTTNews) - Higher Canadian and U.S. stock futures and firm commodity prices point to a start on Bay Street Tuesday morning.

Oil prices have rebounded on dollar's mild retreat, and supply curbs in the U.S. Gulf of Mexico ahead of Hurricane Ian.

Most of the markets in Asia and Europe recovered on bargain hunting after recent losses.

After a weak start, the Canadian market recovered and saw a brief spell in positive territory Monday morning, but faltered soon and then spent the rest of the day's session in the red.

The mood in the market was quite bearish amid rising fears the aggressive monetary tightening by the Federal Reserve and several other central banks could push the global economy into a recession.

The benchmark S&P/TSX Composite Index, which plunged to a new 52-week low, ended with a loss of 153.94 points or 0.83% at 18,327.04, off the day's low of 18,273.00.

Asian stocks closed broadly higher on Tuesday after recent string of losses on worries that efforts by central banks to curb inflation may trigger a global inflation.

The Chinese market gained after the People's Bank of China injected about $24.7 billion of liquidity via repo market operations to maintain liquidity in the banking system ahead of he quarter's end.

European stocks rebounded on Tuesday, as the dollar paused for breath and U.K. ten-year gilt yields slipped back after their recent surges.

The euro rose and the British pound stabilized after the Bank of England (BoE) vowed it "will not hesitate" to change interest rates by as much as needed, intending to reassure markets unnerved by last Friday's budget.

The BoE governor said the central bank is closely monitoring the weakness in the pound amid the turmoil in markets which saw the pound fall to a record low against the dollar.

In commodities trading, West Texas Intermediate Crude oil futures are up $1.10 or 1.43% at $77.81 a barrel.

Gold futures are gaining $14.20 or 0.87% at $1,647.60 an ounce, while Silver futures are up $0.270 or 1.46% at $18.750 an ounce.

Hong Kong Bourse May Spin Its Wheels On Tuesday

Ahead of Monday's holiday for the buddha's birthday, the Hong Kong stock market had finished higher in three straight sessions, collecting almost 550 points or 2.4 percent along the way. The Hang Seng Index now sits just above the 22,500-point plateau although the rally may stall on Tuesday.

RTTNews | 18 dakika önce

China Shares May Return To The Downside

Ahead of the long holiday weekend, the China stock market had finished lower in four straight sessions, sliding more than 20 points or 0.7 percent along the way. The Shanghai Composite Index now sits just beneath the 3,280-point plateau and it may open under pressure again on Tuesday.

RTTNews | 48 dakika önce

Continued Consolidation Called For Taiwan Stock Market

The Taiwan stock market on Monday snapped the five-day winning streak in which it had surged more than 1,300 points or 6.4 percent. The Taiwan Stock Exchange now sits just above the 20,530-point plateau and it may take further damage on Tuesday.

RTTNews | 1s 18 dakika önce

Rally May Stall For Singapore Stock Market

The Singapore stock market has moved higher in three straight sessions, advancing almost 50 points or 1.3 percent along the way. The Straits Times Index now sits just above the 3,850-point plateau although it may run out of steam on Tuesday.

RTTNews | 1s 48 dakika önce

Malaysia Bourse May Extend Monday's Losses

The Malaysia stock market on Monday snapped the two-day winning streak in which it had collected more than 25 points or 1.6 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,540-point plateau and the losses may accelerate on Tuesday.

RTTNews | 2s 18 dakika önce