Higher Open Anticipated For China Stock Market

RTTNews | 651 gün önce
Higher Open Anticipated For China Stock Market

(RTTNews) - The China stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day slide in which it had slumped more than 70 points or 2.3 percent. The Shanghai Composite Index now sits just beneath the 3,100-point plateau and it's tipped to open in the green again on Tuesday.

The global forecast for the Asian markets is upbeat on an improved outlook for the economy and the outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The SCI finished sharply higher on Monday following gains from the financial shares, property stocks and resource companies.

For the day, the index climbed 34.56 points or 1.13 percent to finish at 3,098.64 after trading between 3,089.12 and 3,219.04.

Among the actives, Industrial and Commercial Bank of China improved 1.50 percent, while Bank of China collected 1.32 percent, China Construction Bank strengthened 1.66 percent, China Merchants Bank spiked 2.22 percent, Bank of Communications advanced 0.90 percent, China Life Insurance gathered 1.57 percent, Gemdale skyrocketed 6.56 percent, Poly Developments rallied 2.72 percent, China Vanke soared 4.54 percent, Jiangxi Copper jumped 1.23 percent, Aluminum Corporation of China (Chalco) gained 2.06 percent, Yankuang Energy accelerated 4.95 percent, Huaneng Power plunged 3.86 percent, China Petroleum & Chemical (Sinopec) rose 0.65 percent, PetroChina was up 1.56 percent and China Shenhua Energy perked 2.19 percent.

The lead from Wall Street is positive as the major averages opened higher on Monday, ebbed and flowed throughout the session but still ended solidly in positive territory.

The Dow jumped 213.08 points or 0.62 percent to finish at 34,559.98, while the NASDAQ spiked 114.48 points or 0.84 percent to close at 13,705.13 and the S&P 500 rallied 27.60 points or 0.63 percent to end at 4,433.31.

The higher open came after China put forth stimulus to ease market unrest and drive economic growth. Chinese authorities announced a slew of measures over the weekend to bolster the country's equity markets and fuel an increase in spending. The measures included a 50 percent reduction in stamp duty on stock trades and a slower pace of initial public offerings.

The markets also saw continued momentum after Fed Chair Jerome Powell expressed confidence in continued economic growth last week at Jackson Hole and reiterated the central bank's commitment to pull inflation back to the 2 percent target.

Crude oil prices edged higher on Monday on optimism that energy operations in the Gulf Coast of Florida may be affected by severe weather conditions this week. West Texas Intermediate Crude oil futures for October ended higher by $0.27 or 0.3 percent at $80.10 a barrel.

read more
U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.
RTTNews | 39 dakika önce
Eurozone Investor Confidence Strongest In A Year: Sentix

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.
RTTNews | 3s 33 dakika önce
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Tuesday morning with investors looking for directional clues as they await the outcome of the U.S.-China trade negotiations.
RTTNews | 4s 26 dakika önce
FTSE 100 Advances; Persimmon, Marks & Spencer Among Top Gainers

FTSE 100 Advances; Persimmon, Marks & Spencer Among Top Gainers

Despite data showing an increase in the nation's unemployment rate, U.K. stocks are up in positive territory a little past noon on Tuesday on selective buying amid some optimism over the ongoing U.S.-China trade talks in London.
RTTNews | 5s 0 dakika önce
CAC 40 Down Marginally In Cautious Trade

CAC 40 Down Marginally In Cautious Trade

French stocks are largely subdued on Tuesday as investors refrain from making significant moves while awaiting the outcome of the ongoing trade talks between U.S. and Chinese officials in London.
RTTNews | 5s 45 dakika önce
Sensex, Nifty End Choppy Session Narrowly Mixed

Sensex, Nifty End Choppy Session Narrowly Mixed

Indian shares fluctuated before ending little changed on Tuesday as investors waited for more details to emerge from the second day of ongoing U.S.-China trade negotiations in London.
RTTNews | 6s 28 dakika önce
Yen Recovers Amid BoJ Rate Hike Speculation

Yen Recovers Amid BoJ Rate Hike Speculation

The Japanese yen recovered from early lows against other major currencies in the European session on Tuesday, as traders speculate that the Bank of Japan (BoJ) will hike interest rates this year.
RTTNews | 6s 49 dakika önce