China Shares Tipped To Open In The Green On Tuesday

RTTNews | 154天前

(RTTNews) - The China stock market has moved lower in back-to-back sessions, dropping almost 40 points or 1.2 percent along the way. The Shanghai Composite Index now sits just above the 3,335-point plateau although it may open to the upside on Tuesday.

The global forecast for the Asian markets is cautiously optimistic, with bargain hunting likely on the menu after heavy selling in the previous sessions. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to follow the latter lead.

The SCI finished modestly lower on Monday as losses from the property and resource companies were mitigated by support from the financial sector.

For the day, the index lost 15.56 points or 0.46 percent to finish at 3,335.75 after trading between 3,317.74 and 3,361.74. The Shenzhen Composite Index sank 21.07 points or 1.04 percent to end at 2,005.11.

Among the actives, Industrial and Commercial Bank of China was up 0.15 percent, while Bank of China collected 1.82 percent, China Construction Bank soared 3.64 percent, China Merchants Bank perked 0.16 percent, Agricultural Bank of China climbed 1.57 percent, China Life Insurance shed 0.48 percent, Jiangxi Copper declined 1.87 percent, Aluminum Corp of China (Chalco) retreated 1.58 percent, Yankuang Energy tumbled 2.13 percent, PetroChina spiked 2.60 percent, China Petroleum and Chemical (Sinopec) fell 0.45 percent, Huaneng Power jumped 1.91 percent, China Shenhua Energy rallied 1.37 percent, Gemdale surrendered 2.79 percent, Poly Developments stumbled 2.25 percent and China Vanke dropped 0.98 percent.

The lead from Wall Street is positive as the major averages opened lower on Monday but tracked higher throughout the session to finish mixed.

The Dow jumped 417.86 points or 1.00 percent to finish at 42,001.76, the NASDAQ dipped 23.70 points or 0.14 percent to close at 17,299.29 and the S&P 500 added 30.91 points or 0.55 percent to end at 5,611.85.

The early weakness on Wall Street came amid ongoing concerns about the impact of President Donald Trump's reciprocal tariffs on U.S. trade partners, which are set to begin Wednesday

Traders worry Trump's tariffs and possible retaliatory actions by targeted countries will fuel inflation, keep interest rates elevated and drag down global economic growth.

On the U.S. economic front, MNI Indicators released a report showing an unexpected increase by its reading on Chicago-area business activity in the month of March.

Crude oil prices ticked higher on Monday on concerns that supply may not be able to keep up with demand. West Texas Intermediate for May delivery was up $0.17 or 0.25 percent to $69.53 per barrel.

Swiss Shares Extend Losing Streak

The Swiss stock market closed under pressure again on Tuesday, stretching its losing streak to three sessions while giving up more than 130 points or 1.1 percent in that span.

RTTNews | 2小时48分钟前

Eurozone Inflation Path Suggests ECB Unlikely To Cut Rates Further

Euro area inflation modestly accelerated to a four-month high, and the core figure was steady around the 2 percent target in August as a slight slowing in both food price growth and services inflation was offset by a smaller decline in energy prices, which suggests that the European Central Bank is set to hold interest rates steady in future policy sessions.

RTTNews | 2小时53分钟前

European Markets Finish In The Red On Tuesday

The major European markets finished firmly under water on Tuesday after Eurostat data showed Eurozone inflation rose to 2.1 percent last month, climbing above the European Central Bank's 2 percent target for the first time since April driven by higher prices for food, alcohol and tobacco.

RTTNews | 3小时0分钟前

U.S. Construction Spending Unexpectedly Edges Lower In July

A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.

RTTNews | 5小时1分钟前