Asian Shares Mixed After Solid China Data

RTTNews | 1196天前

(RTTNews) - Asian stocks ended Wednesday's session on a mixed note as investors awaited the Federal Reserve's interest-rate decision later in the day for clues on how aggressive the U.S. central bank intends to be in the coming months.

Amid mounting concerns over inflation that is running at a four-decade high, investors are bracing for a more aggressive move than the 50-basis-point hike they'd broadly priced in.

Chinese and Hong Kong stocks advanced after a slew of Chinese data topped expectations. China's Shanghai Composite index ended up half a percent at 3,305.42, giving up some early gains. Hong Kong's Hang Seng index climbed 1.14 percent to 21,308.21.

Chinese factory activity rebounded slightly in May, retail sales fell less than expected in the month and fixed asset investment for the January to May period topped expectations due to relaxation of pandemic-related restrictions, data showed earlier in the day.

Japanese shares fell despite the Bank of Japan ramping up its bond-buying program and core machinery orders, an indicator of capital expenditure, posting a surprise double-digit growth in April.

The Nikkei average fell 1.14 percent to 26,326.16, ending at a more than one-month low and extending losses for a fourth straight session ahead of the Fed announcement. The broader Topix index closed 1.20 percent lower at 1,855.93.

Energy stocks underperformed after oil prices fell sharply on Tuesday on China demand concerns. Inpex Corp tumbled 3.7 percent, Japan Petroleum lost 4.6 percent and Idemitsu Kosan gave up 3.9 percent. Chip-making equipment manufacturers and retailers also suffered broad-based losses.

Seoul stocks lost ground after the government reported the country's unemployment rate ticked up 0.1 percentage point to 2.8 percent in May. The Kospi average plunged 1.83 percent to 2,447.38, hitting a fresh 19-month low to extend its losing streak to a seventh straight session.

Tech shares led losses, with Naver and Kakao plummeting 3-5 percent. K-pop powerhouse Hybe nosedived almost 25 percent after BTS announced an unexpected decision to suspend group projects.

Australian markets extended loses to a fourth day amid broad-based selling as RBA Governor Philip Lowe warned that inflation could reach 7 percent by the end of the year before easing.

The benchmark S&P/ASX 200 index closed 1.27 percent lower at 6,601, with technology and energy stocks pacing the declines. The broader All Ordinaries index fell 1.39 percent to 6,785.80. Woodside Energy Group, Xero and Block lost 3-7 percent.

New Zealand's benchmark S&P/NZX-50 index fluctuated before ending marginally lower for the day.

U.S. stocks ended mixed overnight after a measure of producer prices increased solidly in May, underscoring the ongoing threat to the economy from a bout of inflation.

The Dow dipped half a percent and the S&P 500 slipped 0.4 percent to extend losses for a fifth straight session, while the tech-heavy Nasdaq Composite index edged up 0.2 percent.

European Shares Seen Flat To Higher At Open

European stocks are seen opening broadly higher on Tuesday, even as the upside may remain capped amid ongoing volatility in the bond markets due to political uncertainty in France and Germany's plans to ramp up debt issuance.

RTTNews | 1小时9分钟前

European Economic News Preview: Eurozone Flash PMI Data Due

Flash composite purchasing managers' survey results from the euro area and the UK are the top economic news due on Tuesday. At 3.15 am ET, France's flash composite PMI survey results are due. The composite output index is forecast to edge up to 49.9 in September from 49.8 in the previous month.

RTTNews | 1小时25分钟前

Sensex, Nifty Extend Losses In Cautious Trade

Indian shares were a tad lower on Tuesday, with tariff worries and escalating tensions in Europe and the Middle East keeping investors on edge.

RTTNews | 2小时4分钟前

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending its early gains in mid-market trading on Tuesday, adding to the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level, with gains across most sectors led by mining and technology shares.

RTTNews | 3小时13分钟前

Asian Markets Mixed Amid Cautious Trades

Asian markets are trading mixed on Tuesday, following the positive cues from Wall Street overnight, as traders remain optimistic about the outlook for the markets amid expectations of further interest rate cuts by the US Fed. Some traders are also looking to cash in on the recent strength in the markets. However, escalating tensions in Europe and the Middle East are weighing on market sentiment.

RTTNews | 3小时38分钟前

Sensex, Nifty Seen Lower At Open

Indian shares look set to open on a weak note on Tuesday as investors keep a close eye on ongoing trade talks with the U.S. as well as escalating tensions in Europe and the Middle East, with EU targeting Russian supplies and Ukraine intensifying its attacks on Russian energy infrastructure.

RTTNews | 4小时9分钟前

Higher Open Called For Thai Stock Market

The Thai stock market has moved lower in four straight sessions, shedding more than 25 points or 1.9 percent along the way. The Stock Exchange of Thailand now sits just above the 1,280-point plateau although it's due for support 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 SET finished modestly lower on Monday following losses from the food, finance, industrial, property, resource, service and technology sectors. For the day, the index lost 10.18 points or 0.79 percent to finish at the daily low of 1,282.54 after peaking at 1,296.42. Volume was 8.171 billion shares worth 31.595 billion baht. There were 356 decliners and 128 gainers, with 167 stocks finishing unchanged. Among the actives, Advanced Info lost 0.68 percent, while Thailand Airport crashed 0.64 percent, Asset World sank 0.83 percent, Banpu plunged 2.48 percent, Bangkok Bank collected 0.68 percent, Bangkok Expressway eased 0.97 percent, BTS Group gave up 1.24 percent, CP All Public dipped 0.52 percent, Charoen Pokphand Foods dropped 0.86 percent, Energy Absolute declined 1.64 percent, Gulf weakened 1.63 percent, Kasikornbank and PTT Global Chemical both slumped 0.91 percent, Krung Thai Bank skidded 0.99 percent, Krung Thai Card retreated 1.64 percent, PTT Oil & Retail fell 0.72 percent, PTT slid 0.75 percent, PTT Exploration and Production was down 0.87 percent, SCG Packaging tanked 2.69 percent, Siam Commercial Bank added 0.40 percent, Siam Concrete tumbled 1.77 percent, Thai Oil plummeted 2.70 percent, True Corporation contracted 0.93 percent, TTB Bank shed 0.53 percent and B. Grimm and Bangkok Dusit Medical were unchanged.

RTTNews | 4小时40分钟前

Indonesia Bourse Likely To Remain Rangebound

The Indonesia stock market has finished lower in two of three trading days since the end of the seven-day winning streak in which it had surged almost 400 points or 5 percent. The Jakarta Composite Index sits just above the 8,040-point plateau and it figures to hold steady in that neighborhood 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 JCI finished slightly lower on Monday as losses from the financial shares and telecoms were mitigated by support from the resource and cement companies. For the day, the index dipped 11.08 points or 0.14 percent to finish at 8,040.04 after trading between 8,005.35 and 8,087.93. Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri advanced 0.91 percent, Bank Danamon Indonesia collected 0.85 percent, Bank Negara Indonesia retreated 1.41 percent, Bank Central Asia and Astra Agro Lestari both dropped 0.96 percent, Bank Rakyat Indonesia tanked 2.12 percent, Indosat Ooredoo Hutchison retreated 1.59 percent, Indocement improved 0.72 percent, Semen Indonesia strengthened 1.39 percent, Indofood Sukses Makmur rose 0.32 percent, Astra International shed 0.44 percent, Energi Mega Persada surged 7.14 percent, Aneka Tambang rallied 3.77 percent, Vale Indonesia soared 3.71 percent, Timah spiked 5.00 percent, Bumi Resources skyrocketed 6.14 percent and United Tractors was unchanged.

RTTNews | 5小时10分钟前

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