Asian Shares Climb As Fed Hike Bets Ease

RTTNews | 958天前

(RTTNews) - Asian stocks advanced on Wednesday as weak U.S. data released overnight boosted expectations of a less hawkish Federal Reserve.

Investors are pricing in a smaller rate hike in December after a 75-basis point hike in November. Third-quarter U.S. GDP data, due later this week, is expected to offer more clues on the economic and rate outlook.

Regional stocks gave up some early gains in the wake of unexpectedly weak earnings from technology giants Alphabet Inc and Microsoft.

Chinese and Hong Kong stocks rose notably, recovering further from a sharp selloff earlier this week on concerns that President Xi Jinping will continue with his ideology-driven approach at the cost of economic growth.

China's Shanghai Composite index rose 0.78 percent to 2,999.50 while Hong Kong's Hang Seng index gained 1.0 percent to close at 15,317.67.

Japanese shares rose for the third consecutive session to reach a seven-week high. The Nikkei average climbed 0.67 percent to 27,431.84 while the broader Topix index ended 0.58 percent higher at 1,918.21.

Denka shares surged 6.4 percent after the chemical products manufacturer announced it would exit its cement business. Shipping companies led losses, with Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha both falling around 3 percent.

The Japanese yen continued weakening against the dollar as traders extended beets against currency market intervention by the government. Yields fell sharply after the Bank of Japan again said it would increase bond buying operations.

Seoul stocks gained on hopes for slower U.S. rate hikes. The Kospi average inched up 0.65 percent to 2,249.56. Samsung Electronics and Samsung SDI both rose about 3 percent. Battery maker LG Energy Solution jumped 3.5 percent after reporting a turnaround in the third-quarter earnings.

Australian markets ended off their day's highs after data showed inflation reached a 32-year high last quarter, pointing to more economic ructions and putting additional pressure on the Reserve Bank to raise interest rates further.

The benchmark S&P/ASX 200 index inched up 0.18 percent to 6,810.90 while the broader All Ordinaries index closed 0.16 percent higher at 7,005.10.

Coles Group, the second-largest supermarket chain in the country, fell 2.7 percent after it flagged rising cost pressures due to elevated inflation and adverse weather. Across the Tasman, New Zealand's benchmark S&P NZX-50 index rallied 1.32 percent to 11,046.50.

Overnight, U.S. stocks rallied to score a three-day winning streak after a sharp pullback by Treasury yields and better than expected third quarter earnings from the likes of General Motors and Coca-Cola.

The Dow rose 1.1 percent, the tech-heavy Nasdaq Composite jumped 2.3 percent and the S&P 500 added 1.6 percent to reach their best closing levels in over a month as weak data on housing prices and consumer confidence stoked hopes the Fed will slow its aggressive pace of interest rate hikes.

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 | 1小时39分钟前

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 | 1小时45分钟前

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 | 2小时25分钟前

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 | 3小时50分钟前

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 | 4小时6分钟前

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 | 5小时13分钟前

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 | 5小时50分钟前

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 | 8小时44分钟前

EURUSD	1.1423	GBPUSD	1.34922	AUDUSD	0.65243
USDJPY	144.845	USDCAD	1.36701	USDCHF	0.82217

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Asian Shares Climb As Fed Hike Bets Ease