Asian Shares Climb On Rate Cut Optimism

RTTNews | 503天前

(RTTNews) - Asian stocks advanced on Tuesday amid expectations that the U.S. Federal Reserve will start cutting interest rates later this year.

The yen was under pressure, helping lift Japanese markets to a three-week high.

The Aussie dollar slipped, and bonds rallied as the Reserve Bank of Australia held interest rates steady as widely expected and sounded less hawkish on the policy outlook than many had feared.

Elsewhere in China, data showed the country recorded high tourism figures during the Labour Day holiday, beating pre-pandemic levels.

Shenzhen and Wuhan have further eased home purchase restrictions to boost sales as the property market slump continued over the May Day public holiday.

Gold slipped in Asian trading following hawkish comments from a couple of Fed officials.

Oil prices held steady as Israel rejected a statement from Hamas that it had accepted a cease-fire proposal to end the fighting in Gaza.

China's Shanghai Composite index ended up 0.22 percent at 3,147.74, reversing an early slide. Hong Kong's Hang Seng index dropped 0.53 percent to 18,479.37 after a 10-day winning streak.

Japanese markets rallied as trading resumed after a holiday. The Nikkei average jumped 1.57 percent to 38,835.10, marking a three-week closing high as the yen continued to weaken despite warnings from authorities that they would act in the event of volatility. The broader Topix index settled 0.65 percent higher at 2,746.22.

Tech stocks topped the gainers list after Apple posted stronger-than-expected sales last quarter. Advantest rose 2.3 percent, SoftBank Group rallied 3.7 percent, Tokyo Electron jumped 5.2 percent and Disco Corp soared 8.9 percent. Nikkei heavyweight Fast Retailing gained 3.2 percent.

A private survey showed earlier in the day that Japanese service sector activity grew at the fastest pace in eight months in April as a result of rising business and consumer spending.

Seoul stocks climbed, with the Kospi average rallying 2.16 percent to 2,734.36 in catch-up trade as trading resumed after a long holiday weekend. Tech stocks surged, with Samsung Electronics gaining 4.8 percent and SK Hynix adding 3.7 percent.

Australian markets saw their biggest gain in three months after the RBA rate decision. The benchmark S&P ASX 200 rose 1.44 percent to 7,793.30 while the broader All Ordinaries index closed up 1.42 percent at 8,065.50.

Gains were seen across the board. Power producer AGL Energy soared 7.4 percent after hiking its profit guidance for FY2024. Lender ANZ finished marginally higher despite first-half earnings coming in below estimates.

Across the Tasman, New Zealand's benchmark S&P NZX-50 index slipped 0.17 percent to 11,800.78.

U.S. stocks rose overnight amid solid first-quarter earnings reports and hopes for interest rate cuts before the end of the year.

The tech-heavy Nasdaq Composite surged 1.2 percent and the S&P 500 added 1 percent while the Dow inched up half a percent to post its fourth consecutive daily gain.

Singapore Stock Market Overdue For Support On Tuesday

The Singapore stock market has finished lower in seven straight sessions, slumping more than 55 points or 1.3 percent along the way. The Straits Times Index now sits just beneath the 4,300-point plateau although it may find traction on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The STI finished slightly lower again on Monday following losses from the financial shares and mixed performances from the property stocks and industrial issues. For the day, the index dipped 5.34 points or 0.12 percent to finish at 4,297.37 after trading between 4,291.99 and 4,315.70. Among the actives, CapitaLand Integrated Commercial Trust shed 0.44 percent, while CapitaLand Investment tumbled 1.11 percent, City Developments jumped 1.19 percent, Comfort DelGro sank 0.67 percent, DBS Group lost 0.34 percent, DFI Retail Group and Venture Corporation both rallied 1.58 percent, Genting Singapore advanced 0.66 percent, Hongkong Land plunged 3.42 percent, Keppel Ltd improved 0.57 percent, Oversea-Chinese Banking Corporation was down 0.12 percent, Seatrium Limited tanked 1.68 percent, SembCorp Industries fell 0.33 percent, Singapore Technologies Engineering increased 0.47 percent, SingTel stumbled 1.59 percent, Thai Beverage climbed 1.09 percent, United Overseas Bank eased 0.06 percent, UOL Group slipped 0.13 percent, Yangzijiang Financial surged 1.67 percent, Yangzijiang Shipbuilding dropped 0.91 percent and Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, CapitaLand Ascendas REIT, Keppel DC REIT, Wilmar International, SATS and Frasers Logistics & Commercial Trust were unchanged. The lead from Wall Street is mildly positive as the major averages opened in the red on Monday but quickly bounced higher and continued to trend that way throughout the session, ending near daily highs.

RTTNews | 35分钟前

South Korea Producer Prices Slip 0.1% In August

Producer prices in South Korea were down a seasonally adjusted 0.1 percent on month in August, the Bank of Korea said on Tuesday - after rising 0.4 percent in July.

RTTNews | 45分钟前

Australia Manufacturing PMI Slips To 51.6 - S&P Global

The manufacturing sector in Australia continued to expand in September, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 51.6.

RTTNews | 50分钟前

Malaysia Stock Market May See Additional Support On Tuesday

The Malaysia stock market on Monday ended the two-day slide in which it had fallen almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it may add to its winnings on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The KLCI finished slightly higher on Monday following gains from the financial shares, losses from the telecoms and a mixed picture from the plantation stocks. For the day, the index rose 5.11 points or 0.32 percent to finish at 1,603.34 after trading between 1,596.46 and 1,604.31. Among the actives, 99 Speed Mart Retail sank 0.76 percent, while AMMB Holdings jumped 1.26 percent, Axiata plunged 2.95 percent, Celcomdigi slumped 1.06 percent, CIMB Group strengthened 1.11 percent, Gamuda surged 3.08 percent, IHH Healthcare and Maybank both added 0.41 percent, IOI Corporation eased 0.26 percent, Kuala Lumpur Kepong lost 0.50 percent, Maxis was down 0.27 percent, MISC dropped 0.93 percent, MRDIY soared 1.91 percent, Nestle Malaysia spiked 1.88 percent, Petronas Chemicals increased 0.45 percent, Petronas Dagangan plummeted 3.04 percent, Petronas Gas retreated 1.08 percent, PPB Group slipped 0.39 percent, Press Metal shed 0.53 percent, Public Bank improved 0.71 percent, QL Resources tanked 2.05 percent, RHB Bank collected 0.61 percent, Sime Darby stumbled 2.33 percent, SD Guthrie advanced 0.95 percent, Sunway rallied 1.86 percent, Telekom Malaysia fell 0.42 percent, Tenaga Nasional rose 0.30 percent, YTL Corporation gained 0.37 percent and YTL Power climbed 0.96 percent. The lead from Wall Street is mildly positive as the major averages opened in the red on Monday but quickly bounced higher and continued to trend that way throughout the session, ending near daily highs.

RTTNews | 1小时5分钟前

KOSPI May Extend Its Gains On Tuesday

The South Korea stock market has alternated between positive and negative finishes through the last four trading days since the end of the 11-day winning streak in which it had surged more than 300 points or 9.6 percent. Now at a fresh record closing high, the KOSPI sits just beneath the 3,470-point plateau and it may tick higher again on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The KOSPI finished modestly higher on Monday following gains from the automobile producers and mixed performances from the financial shares, chemicals and technology stocks. For the day, the index added 23.41 points or 0.68 percent to finish at 3,468.65 after trading between 3,458.87 and 3,482.25. Volume was 280.84 million shares worth 11.84 trillion won. There were 545 decliners and 332 gainers. Among the actives, Shinhan Financial fell 0.43 percent, while KB Financial collected 0.34 percent, Hana Financial dipped 0.33 percent, Samsung Electronics surged 4.77 percent, Samsung SDI rallied 2.82 percent, LG Electronics improved 0.76 percent, SK Hynix shed 0.57 percent, Naver sank 0.85 percent, LG Chem jumped 1.69 percent, Lotte Chemical lost 0.76 percent, SK Innovation perked 0.19 percent, POSCO Holdings dropped 0.88 percent, SK Telecom slumped 0.72 percent, KEPCO advanced 0.98 percent, Hyundai Mobis strengthened 1.46 percent, Hyundai Motor accelerated 1.87 percent and Kia Motors rose 0.30 percent.

RTTNews | 1小时35分钟前

U.S. Dollar Declines Amid Rate Cut Hopes

The U.S. dollar weakened against its major counterparts in the New York session on Monday, amid growing expectations of future rate cuts from the Federal Reserve.

RTTNews | 2小时2分钟前

Singapore Inflation Data Due On Tuesday

Singapore will on Tuesday release August numbers for consumer prices, highlighting a modest day for Asia-Pacific economic activity. In July, overall inflation was down 0.5 percent on month and up 0.6 percent on year, while core CPI rose an annual 0.5 percent,

RTTNews | 2小时35分钟前

Swiss Market Settles Marginally Up

The Switzerland market ended marginally up on Monday, despite struggling a bit early on in the session, and then for a few minutes in the final hour.

RTTNews | 6小时43分钟前

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