Asian Shares Decline On China Concerns

RTTNews | 973天前

(RTTNews) - Asian stocks fell on Thursday amid concerns about the rapid spread of COVID infections in China and fears about the potential for new variants to emerge.

Several countries including the United States, Japan, Italy Taiwan and India have imposed new restrictions mandating COVID-19 tests for passengers arriving from China. Investors also assessed the likelihood of a U.S. recession in 2023 due to the Fed's aggressive policy tightening to tame inflation.

China's Shanghai Composite index dropped 0.44 percent to 3,073.70 as infections continued to spread in most parts of the country, greatly disrupting the normal work schedule.

Hong Kong's Hang Seng index fell 0.79 percent to 19,741.14 on worries about the impact of the current COVID surge in China on global supply chains and inflation.

Japanese shares tumbled, dragged down by technology stocks. The Nikkei average hit its lowest levels in nearly three months before ending 0.94 percent lower at 26,093.67.

The broader Topix index ended down 0.72 percent at 1,895.27. Heavyweight SoftBank hit its lowest level since Oct. 19 before ending 1.6 percent lower.

Seoul stocks slumped to reach two-month lows as initial optimism over China reopening faded. The Kospi average fell 1.93 percent to 2,236.40 after the release of mixed industrial production and retail sales data. Large-cap stocks such as SK Hynix, Hyundai Motor and Samsung Electronics lost 1-2 percent.

Australian markets ended at seven-week lows, dragged down by financials and energy stocks. The benchmark S&P/ASX 200 slipped 0.94 percent to 7,020.10 while the broader All Ordinaries index settled 0.89 percent lower at 7,197.30.

Prime Minister Anthony Albanese said today the country would not make any changes to its rules around allowing travelers from China into the country, despite some countries making mandatory COVID tests a requirement.

Across the Tasman, New Zealand's benchmark S&P NZX-50 index finished marginally lower at 11,538.45.

U.S. stocks fell sharply overnight, with recession fears and growing concerns around COVID re-emergence weighing on markets heading into 2023.

The tech-heavy Nasdaq Composite lost 1.4 percent to hit a 2022 closing low while the S&P 500 shed 1.2 percent and the Dow declined 1.1 percent.

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.

RTTNews | 1小时17分钟前

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.

RTTNews | 1小时32分钟前

Sensex, Nifty Set To Open Lower As New U.S. Tariffs Take Effect

Indian shares may open on a weak note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect on Wednesday.

RTTNews | 2小时3分钟前

Swiss Market Settles Modestly Higher

The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters. The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.

RTTNews | 2小时15分钟前

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.

RTTNews | 2小时23分钟前

Thai Bourse May Halt Losing Streak On Thursday

The Thai stock market has moved lower in back-to-back sessions, slipping almost 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,250-point plateau although it may stop the bleeding on Thursday.

RTTNews | 2小时32分钟前

Australian Market Slightly Lower

The Australian market is slightly lower in choppy trading on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.

RTTNews | 2小时40分钟前

Indonesia Shares Tipped To Open In The Green

The Indonesia stock market has moved higher in two of three trading days since the end of the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,935-point plateau and it may add to its winnings on Thursday.

RTTNews | 3小时2分钟前

EURUSD	1.16409	GBPUSD	1.35072	AUDUSD	0.65134
USDJPY	147.132	USDCAD	1.37782	USDCHF	0.80143