Asian Shares Plummet On Inflation, Recession Concerns

RTTNews | 63 ngày trước
Asian Shares Plummet On Inflation, Recession Concerns

(RTTNews) - Asian stocks plummeted on Monday as a global sell-off deepened and investors fled to the relatively safe-haven assets such as bonds, the Japanese yen and the Swiss Franc on signs that the Trump's administration is unlikely to soften its sweeping tariff regime.

Profit taking wiped some shine off bullion while oil prices hit a four-year low on demand concerns, with Saudi Arabia slashing its flagship crude price by the most in more than two years.

China's Shanghai Composite index slumped 7.34 percent to 3,096.58 due to panic selling as fears of a global trade war mounted following Beijing's retaliation against Trump's sweeping tariffs.

China slammed U.S. tariffs as 'economic bullying' that is 'inconsistent with international trade rules' and urged the U.S. to resolve trade differences through consultation in an equal, respectful and mutually beneficial manner.

Meanwhile, People's Daily, the flagship newspaper of the Communist Party, said in a front-page commentary published today that the government has room to ease borrowing costs and reserve rules for lenders if needed to defend its economy against the tariffs.

Hong Kong's Hang Seng index plummeted 13.22 percent to 19,828.30, with financials and technology stocks taking a beating.

Japanese markets fell sharply as Trump reiterated his resolve on tariffs and indicated he wasn't concerned about the massive selloffs.

The Nikkei average plunged 7.83 percent to 31,136.58 while the broader Topix index settled 7.79 percent lower at 2,288.66.

Banks were among the hardest hit, with Mizuho Financial Group and Mitsubishi UFJ Financial Group both falling over 10 percent on global growth concerns.

Seoul stocks nosedived, with the Kospi average ending down 5.57 percent at 2,328.20 to extend losses for a fourth day running.

Australian markets fell the most in more than a year, with banks and miners leading the rout. Australian Treasurer Jim Chalmers said spiraling trade tensions had "crushed confidence in markets".

"When confidence craters, markets crash and that's what we've seen as a result of the U.S. administration's self-defeating tariffs policy," he said.

The benchmark S&P/ASX 200 slumped 4.23 percent to 7,343.30 while the broader All Ordinaries index closed 4.12 percent lower at 7,524.30.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index fell 3.68 percent to 11,775.88.

U.S. stock market turmoil deepened on Friday as China hit back at tariffs announced by President Donald Trump, raising the likelihood of an extended trade war that could cut into corporate profits and stall economic growth.

Federal Reserve Chair Jerome Powell said in remarks at a business journalist conference that it is becoming clear that the tariff increases will be significantly larger than expected and the same is likely to be true of the economic effects, which will include higher inflation and slower growth.

He, however indicated the central bank will wait for greater clarity before considering any adjustments to interest rates.

The S&P 500 plummeted 6 percent, capping the worst week for the U.S. stock market since the early days of the Covid pandemic in March 2020 and reaching an 11-month closing low.

The tech-heavy Nasdaq Composite plunged 5.8 percent to enter a bear market. The Dow tumbled 5.5 percent, putting its two-day decline at nearly 4,000 points.

read more
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid easing trade war tensions between the US and China after the two superpowers began high-level trade talks in London, with negotiations expected to continue on Tuesday. The tariff war between the two countries has already rattled the global economy.
RTTNews | 41 phút trước
Sensex, Nifty Seen Higher At Open As Sino-US Talks Continue

Sensex, Nifty Seen Higher At Open As Sino-US Talks Continue

Indian shares look set to open on a positive note Tuesday as top officials from the U.S. and China continue their trade talks for a second day today to resolve their differences and ease tensions over rare-earth minerals and technology shipments.
RTTNews | 1h 8phút trước
Thai Bourse May Extend Losing Streak

Thai Bourse May Extend Losing Streak

The Thai stock market has ticked lower in back-to-back sessions, slipping more than 5 points or 0.4 percent along the way. The Stock Exchange of Thailand now rests just above the 1,135-point plateau and it may take further damage on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
RTTNews | 1h 39phút trước
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Tuesday, extending the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 moving up to near the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks were the only weak spot.
RTTNews | 2h 1phút trước
Lower Open Anticipated For Indonesia Stock Market

Lower Open Anticipated For Indonesia Stock Market

Ahead of the long holiday weekend for Eid-al-Adha, the Indonesia stock market had moved higher in back-to-back sessions, gathering almost 70 points or 1 percent along the way. The Jakarta Composite Index now rests just above the 7,110-point plateau although it's likely to open under pressure on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference. The JCI finished modestly higher on Thursday following gains from the financials and mixed performances from the resource and cement companies. For the day, the index added 44.39 points or 0.63 percent to finish at 7,113.42 after trading between 7,083.89 and 7,136.64. Among the actives, Bank CIMB Niaga sank 0.87 percent, while Bank Mandiri climbed 1.00 percent, Bank Negara Indonesia spiked 2.79 percent, Bank Central Asia shed 0.56 percent, Bank Rakyat Indonesia collected 0.49 percent, Indosat Ooredoo Hutchison added 0.48 percent, Indocement advanced 0.98 percent, Semen Indonesia tumbled 1.79 percent, Indofood Sukses Makmur dropped 0.91 percent, United Tractors perked 0.12 percent, Energi Mega Persada plunged 4.24 percent, Astra Agro Lestari retreated 1.26 percent, Aneka Tambang tanked 2.82 percent, Vale Indonesia plummeted 4.13 percent, Timah rallied 2.07 percent, Bumi Resources soared 2.50 percent and Astra International and Bank Danamon Indonesia were unchanged.
RTTNews | 2h 9phút trước
Hong Kong Shares Tipped To Open In The Red On Tuesday

Hong Kong Shares Tipped To Open In The Red On Tuesday

The Hong Kong stock market bounced higher again on Monday, one session after ending 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 24,180-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
RTTNews | 2h 24phút trước
Australian Market Notably Higher

Australian Market Notably Higher

The Australian stock market is trading notably higher on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,550 level, with gains across most sectors led by technology and energy stocks. Gold miners were the only weak spot.
RTTNews | 2h 29phút trước
China Stock Market Due For Consolidation On Tuesday

China Stock Market Due For Consolidation On Tuesday

The China stock market has finished higher in five straight sessions, advancing more than 50 points or 1.5 percent along the way. The Shanghai Composite Index now sits just beneath the 3,400-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
RTTNews | 2h 39phút trước