China Shares May Take Further Damage On Wednesday

RTTNews | 723 gün önce

(RTTNews) - The China stock market on Tuesday snapped the two-day winning streak in which it had climbed almost 75 points or 2.3 percent. The Shanghai Composite Index now sits just above the 3,290-point plateau and it's looking at a soft start again on Wednesday.

The global forecast for the Asian markets is negative, with oil and technology stocks likely to lead the way lower. The European markets were down and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

The SCI finished barely lower on Tuesday as losses from the properties were offset by gains from the oil companies and a mixed picture from the financial sector.

For the day, the index eased 0.09 points or 0.00 percent to finish at 3,290.95 after trading between 3,279.57 and 3,305.34. The Shenzhen Composite Index shed 7.75 points or 0.37 percent to end at 2,061.76.

Among the actives, Industrial and Commercial Bank of China rose 0.21 percent, while Bank of China collected 0.51 percent, China Construction Bank perked 0.16 percent, China Merchants Bank retreated 1.60 percent, Bank of Communications fell 0.34 percent, China Life Insurance eased 0.05 percent, Jiangxi Copper climbed 1.05 percent, Aluminum Corp of China (Chalco) shed 0.63 percent, Yankuang Energy lost 0.45 percent, PetroChina rallied 2.02 percent, China Petroleum and Chemical (Sinopec) strengthened 1.13 percent, Huaneng Power surged 4.07 percent, China Shenhua Energy was up 0.21 percent, Gemdale plunged 2.67 percent, Poly Developments dipped 0.14 percent, China Vanke slumped 1.05 percent and China Fortune Land tanked 2.21 percent.

The lead from Wall Street is weak as the major averages opened mixed on Tuesday and finished the same way.

The Dow advanced 71.15 points or 0.20 percent to finish at 35,630.68, while the NASDAQ sank 62.11 points or 0.43 percent to close at 14,283.91 and the S&P 500 fell 12.23 points or 0.27 percent to end at 4,576.73.

The modest weakness on Wall Street may partly have reflected profit taking, as some traders looked to cash in on the strong gains posted last month.

Overall trading activity remained somewhat subdued, however, as traders continued to look ahead to Friday's closely watched monthly jobs report.

In U.S. economic news, the Institute for Supply Management said U.S. manufacturing activity contracted for the ninth consecutive month in July. Also, the Commerce Department said construction spending rose slightly less than expected in June.

Crude oil futures ended lower on Tuesday thanks to a firm dollar and data showing a slowdown in global manufacturing activity. West Texas Intermediate Crude oil futures for September ended lower by $0.43 at $81.37 a barrel.

Russia Slashes Interest Rates Again On Easing Price Pressures

Russia's central bank lowered the key interest rate massively for a second policy session in a row on Friday after policymakers assessed that inflationary pressures are declining and the economy is on a return to balanced growth.

RTTNews | 2s 53 dakika önce

Bay Street Seen Opening With Negative Bias

Canadian shares are likely to open with a slightly negative bias Friday morning, weighed down by uncertainty about tariffs, and lower bullion prices. Investors are also likely to react to earnings updates. The market is likely to move in a tight range for much of the day's trading session.

RTTNews | 4s 3 dakika önce

UK Retail Sales Rebound As Warm Weather Boosts Spending

UK retail sales recovered in June as warm weather boosted consumer spending but consumer sentiment weakened amid fears of possible tax rate hikes, data showed Friday. Retail sales grew 0.9 percent on a monthly basis, in contrast to the revised 2.8 percent drop in May, the Office for National Statistics reported. However, this was weaker than economists' forecast of 1.2 percent gain.

RTTNews | 4s 20 dakika önce

FTSE 100 Sheds Ground After Six-day Winning Streak

After posting gains in the previous six sessions, the U.K. market is down in negative territory on Friday with data showing a less than expected increase in retail sales, and a drop in consumer sentiment weighing on stocks.

RTTNews | 4s 34 dakika önce

Volkswagen Stock Up On Volume Growth, Despite Weak Q2 Profit, Outlook Cut

Shares of Volkswagen Group were gaining around 4 percent in the German trading after the automajor reported Friday slightly higher sales volume in the second quarter, even though profit and revenues were lower and the firm trimmed fiscal 2025 outlook. The latest results were hit partly by higher sales of lower-margin all-electric models, as well as increased US import tariffs and restructuring...

RTTNews | 5s 59 dakika önce