Asian Shares Gain As US Debt Default Worries Ebb

RTTNews | 741 ngày trước
Asian Shares Gain As US Debt Default Worries Ebb

(RTTNews) - Asian stocks rose broadly on Thursday as fears of a U.S. debt default eased, and a private survey showed China's factory activity unexpectedly swung to growth in May from decline.

The U.S. House of Representatives approved a debt ceiling and budget cuts package on Wednesday. The bill now heads to the Senate with passage expected by weekend.

The China Caixin/S&P Global manufacturing PMI rose to 50.9 in May from 49.5 in April, helping ease concerns that China's economic recovery was stalling.

Elsewhere, Japan's manufacturing PMI was finalized at 50.6 in May, up from April's 49.5 and marking the first expansionary reading since October 2022.

South Korea's factory activity shrank for an 11th consecutive month in the month and Australia's manufacturing industry continued to see a downturn.

The dollar came off its recent highs after a couple of Fed speakers signaled the U.S. central bank could skip a hike at its June meeting. Oil prices inched up slightly after two days of heavy losses.

China's Shanghai Composite index fluctuated before ending marginally higher at 3,204.63. Hong Kong's Hang Seng index ended little changed at 18,216.91.

Japanese shares rose notably after losses in the previous session due to portfolio adjustments at the end of the month.

The Nikkei average climbed 0.84 percent to 31,148.0, after having snapped a four-day winning streak in the previous session. The broader Topix index ended 0.88 percent higher at 2,149.29.

Daikin Industries, Japan Steel Works and SoftBank rallied 3-5 percent. Toyota Motor advanced 1.8 percent after the automaker said it would invest USD 2.1 billion more in its new U.S. battery plant in North Carolina.

Seoul stocks ended slightly lower to extend losses for a second day running. The Kospi average slid 0.31 percent to 2,569.17, dragged down by tech and auto shares. LG Energy Solution lost 2.5 percent, Hyundai Motor declined 1.3 percent and its affiliate Kia fell 2 percent.

Australian markets eked out modest gains led by gold miners and energy stocks. The benchmark S&P/ASX 200 rose 0.27 percent to 7,110.80 as investors looked ahead to RBA's interest-rate decision scheduled for next week. The broader All Ordinaries index settled 0.24 percent higher at 7,290.70.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index climbed 0.87 percent to 11,916.13 after a survey revealed business confidence in the country increased in May due to a bounce in a number of activity indicators.

U.S. stocks declined overnight as investors awaited the crucial vote on a bipartisan deal to suspend the government debt ceiling and set federal funding limits.

In economic releases, job openings rose unexpectedly in April, giving the Federal Reserve more reason to raise interest rates further if inflation stays high.

The Dow eased 0.4 percent, while the S&P 500 and the tech-heavy Nasdaq Composite both fell around 0.6 percent.

read more
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese market is trading notably lower on Thursday, snapping a four-session winning streak, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 38,200 level, with weakness across most sectors led by automakers, exporters and technology stocks. Financial stocks are the only bright spot.
RTTNews | 16 phút trước
Indonesia Bourse May Extend Wednesday's Losses

Indonesia Bourse May Extend Wednesday's Losses

The Indonesia stock market on Wednesday ended the three-day winning streak in which it had gained almost 190 points or 2.7 percent. The Jakarta Composite Index now rests just above the 7,220-point plateau and the losses may accelerate on Thursday.
RTTNews | 24 phút trước
Australian Market Slightly Higher

Australian Market Slightly Higher

The Australian market is trading slightly higher on Thursday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving a tad above the 8,600 level, with gains in gold miners and eergy partially offset by weakness in iron ore miners.
RTTNews | 36 phút trước
Hong Kong Bourse May Hand Back Wednesday's Gains

Hong Kong Bourse May Hand Back Wednesday's Gains

The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,360-point plateau and it's likely to remain rangebound on Thursday.
RTTNews | 39 phút trước
Lower Open Anticipated For Taiwan Stock Market

Lower Open Anticipated For Taiwan Stock Market

The Taiwan stock market has moved higher in three straight sessions, accelerating more than 810 points or 3.6 percent along the way. The Taiwan Stock Exchange now sits just above the 22,470-point plateau although it's expected to open under water on Thursday.
RTTNews | 1h 24phút trước
Continued Consolidation Called For Singapore Shares

Continued Consolidation Called For Singapore Shares

The Singapore stock market has moved lower in two straight sessions, sinking more than 15 points or 0.4 percent along the way. The Straits Times Index now sits just beneath the 3,920-point plateau and it may take further damage on Thursday.
RTTNews | 1h 54phút trước
Renewed Selling Pressure Expected For Malaysia Shares

Renewed Selling Pressure Expected For Malaysia Shares

The Malaysia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had gained almost 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,525-point plateau and it's likely to head south again on Thursday.
RTTNews | 2h 24phút trước
Japan Stock Market May Run Out Of Steam On Thursday

Japan Stock Market May Run Out Of Steam On Thursday

The Japan stock market has finished higher in four straight sessions, climbing more than 860 points or 2.5 percent along the way. The Nikkei 225 now sits just above the 38,420-point plateau although it's due for consolidation on Thursday.
RTTNews | 2h 39phút trước