Asian Shares Gain As US Debt Default Worries Ebb

RTTNews | 740 ngày trước

(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.

Japan Producer Price Data Due On Wednesday

Japan will on Tuesday release May figures for producer prices, highlighting a light day for Asia-Pacific economic activity. In April, producer prices were up 0.2 percent on month and 4.0 percent on year.

RTTNews | 11 phút trước

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 1h 58phút trước

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 2h 4phút trước

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 2h 44phút trước

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 4h 9phút trước

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 4h 25phút trước

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 5h 32phút trước

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 | 6h 9phút trước

EURUSD	1.14277	GBPUSD	1.35016	AUDUSD	0.65241
USDJPY	144.861	USDCAD	1.36719	USDCHF	0.82255

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Asian Shares Gain As US Debt Default Worries Ebb