China Shares Due For Support On Tuesday.

RTTNews | 17小时12分钟前

(RTTNews) - The China stock market has moved lower in consecutive trading days, sinking almost 15 points or 0.4 percent in that span. The Shanghai Composite Index now sits just above the 3,860-point plateau although it's expected to open to the upside on Tuesday.

The global forecast for the Asian markets is positive on an improving outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to follow suit.

The SCI finished slightly lower on Monday as losses from the financials were offset by gains from the properties and a mixed picture from the resource stocks.

For the day, the index slipped 10.09 points or 0.26 percent to finish at 3,860.50 after trading between 3,855.97 and 3,879.74. The Shenzhen Composite Index rose 8.94 points or 0.36 percent to end at 2,471.43.

Among the actives, Industrial and Commercial Bank of China slumped 0.67 percent, while Bank of China lost 0.37 percent, Agricultural Bank of China skidded 1.10 percent, China Merchants Bank sank 0.75 percent, Bank of Communications shed 0.42 percent, China Life Insurance dropped 0.84 percent, Jiangxi Copper stumbled 2.23 percent, Aluminum Corp of China (Chalco) rose 0.37 percent, Yankuang Energy jumped 1.90 percent, PetroChina advanced 0.92 percent, China Petroleum and Chemical (Sinopec) dipped 0.18 percent, Huaneng Power retreated 1.42 percent, China Shenhua Energy and Poly Developments both climbed 1.14 percent, Gemdale rallied 1.18 percent and China Vanke added 0.43 percent.

The lead from Wall Street is upbeat as the major averages opened higher on Monday and largely remained in the green throughout the trading day.

The Dow rose 49.23 points or 0.11 percent to finish at 45,883.45, while the NASDAQ jumped 207.65 points or 0.94 percent to end at a record 22,348.75 and the S&P 500 gained 30.99 points or 0.47 percent to close at 6,615.28, also a record.

The strength on Wall Street came following positive comments from President Donald Trump about trade talks between top U.S. and Chinese officials in Europe.

Traders also continued to look ahead to the Federal Reserve's monetary policy announcement on Wednesday. With recent data showing relatively subdued inflation and a weakening labor market, the Fed is widely expected to lower interest rates by at least a quarter-point.

Traders are likely to pay close attention to the Fed's accompanying statement as well as Fed Chair Jerome Powell's post-meeting comments for clues about the likelihood of further rate cuts.

Crude oil moved sharply higher on Monday amid brewing Middle East tensions and the heightening Russia-Ukraine war even as softening demand concerns surface. West Texas Intermediate crude for October delivery was up $0.58 or 0.93 percent at $63.27 per barrel.

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EURUSD	1.18693	GBPUSD	1.36609	AUDUSD	0.66866
USDJPY	146.343	USDCAD	1.37392	USDCHF	0.78586