Oversold Hang Seng Still Looking At Negative Open

RTTNews | 643 gün önce
Oversold Hang Seng Still Looking At Negative Open

(RTTNews) - The Hong Kong stock market has finished lower in four straight sessions, tumbling almost 1,000 points or 7 percent along the way. The Hang Seng Index now rests just above the 15,275-point plateau and it's expected to take further damage again on Thursday.

The global forecast for the Asian markets is negative on pessimism over the outlook for interest rates. The European and U.S. markets were down and the Asian bourses are expected to open in similar fashion.

The Hang Seng finished with huge losses on Wednesday and damage across the board, especially among the technology and property sectors.

For the day, the index plummeted 589.02 points or 3.71 percent to finish at 15,276.90 after trading between 15,194.94 and 15,764.38.

Among the actives, Alibaba Group fell 4.02 percent, while Alibaba Health Info plummeted 8.57 percent, ANTA Sports declined 6.15 percent, China Life Insurance shed 4.48 percent, China Mengniu Dairy sank 4.56 percent, China Resources Land lost 4.34 percent, CITIC and Henderson Land both skidded 4.97 percent, CNOOC gave up 2.37 percent, Country Garden surrendered 6.29 percent, CSPC Pharmaceutical diminished 1.96 percent, Galaxy Entertainment dipped 2.76 percent, Hang Lung Properties plunged 7.14 percent, Hong Kong & China Gas slid 3.97 percent, Industrial and Commercial Bank of China was down 2.47 percent, JD.com retreated 6.05 percent, Lenovo slipped 3.63 percent, Li Ning tumbled 6.21 percent, Meituan tanked 6.97 percent, New World Development slumped 5.64 percent, Techtronic Industries eased 1.42 percent, Xiaomi Corporation dropped 4.92 percent and WuXi Biologics stumbled 5.25 percent.

The lead from Wall Street is weak as the major averages opened sharply lower on Wednesday and stayed that way, although they managed to finish well off session lows.

The Dow dropped 94.45 point or 0.25 percent to finish at 37,266.67, while the NASDAQ slumped 88.72 points or 0.59 percent to close at 14,855.62 and the S&P 500 lost 26.77 points or 0.56 percent to end at 4,739.21.

The early weakness on Wall Street reflected ongoing uncertainty about the outlook for interest rates amid recent concerns the Federal Reserve won't lower rates as early as previously hoped.

Adding to worries the Fed will hold off on cutting rates, the Commerce Department released a report showing U.S. retail sales increased by more than expected in December.

A separate report from the Federal Reserve also showed an unexpected uptick in U.S. industrial production last month.

Crude oil futures settled higher on Wednesday, although concerns about the outlook for oil demand and a firm dollar limited the uptick in oil prices. West Texas Intermediate crude oil futures for February rose $0.16 at $72.56 a barrel.

read more
Narrow Trading Range Expected For Malaysia Shares

Narrow Trading Range Expected For Malaysia Shares

The Malaysia stock market bounced higher again on Tuesday, one session after snapping the two-day winning streak in which it had picked up less than a point. The Kuala Lumpur Composite Index now sits just above the 1,615-point plateau and it's likely to hold steady in that neighborhood on Wednesday.
RTTNews | 24 dakika önce
Japan Shares May Run Out Of Steam On Wednesday

Japan Shares May Run Out Of Steam On Wednesday

The Japanese stock market has moved higher in two straight sessions, advancing more than 1,730 points or 3.4 percent along the way. The Nikkei 225 now sits just above the 49,300-point plateau although it's likely to see profit taking on Wednesday.
RTTNews | 39 dakika önce
KOSPI Overdue For Profit Taking On Wednesday

KOSPI Overdue For Profit Taking On Wednesday

The South Korea stock market has tracked higher in five straight sessions, accelerating more than 260 points or 7 percent in that span. Now at another fresh record closing high, the KOSPI rests just beneath the 3,825-point plateau although investors figure to lock in gains on Wednesday.
RTTNews | 54 dakika önce
Japan Trade Data On Tap For Wednesday

Japan Trade Data On Tap For Wednesday

Japan will on Wednesday release September figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.
RTTNews | 1s 54 dakika önce
Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

Despite staging a recovery in the final hour of the day's trading session, the Switzerland market ended marginally down on Tuesday.
RTTNews | 5s 43 dakika önce
European Stocks Close Mostly Higher

European Stocks Close Mostly Higher

European markets closed mostly higher on Tuesday, supported by gains in defense sector amid renewed concerns about tensions in the Middle East, and a lack of progress in Russia-Ukraine peace efforts. Slightly easing U.S.-China trade tensions, and expectations of a resolution to the government shutdown in the U.S. aided sentiment.
RTTNews | 6s 6 dakika önce