Sensex, Nifty May See Gap-down Opening As US Recession Fears Mount

RTTNews | 176 dias atrás

(RTTNews) - Indian shares may succumb to heavy sell-off on Monday after the Nasdaq Composite slipped into a technical correction on Friday amid concerns that the U.S. Federal Reserve has made a serious error in keeping rates too high for too long and could lead the U.S. economy into a recession.

On the positive side, media reports suggest that the Finance Ministry is considering providing relief to homeowners by finetuning the new long-term capital gains (LTCG) provisions announced in this year's Budget that seek to remove indexation benefits for unlisted assets, including property and gold.

The release of HSBC PMI for the services sector, upcoming RBI interest rate decision, FII trading activity and the last batch of Q1 earnings announcements may influence trading sentiment as the week progresses.

Asian markets were deep in the red this morning, with Japan's Nikkei and South Korea's Kospi average falling over 5 percent each.

The Japanese yen surged past 145 per dollar for the first time since January and bonds rallied, with two-year Treasury yields falling 11 basis points on expectations of deeper interest-rate cuts by the Fed.

Gold eased slightly due to profit-taking activities while oil prices hovered near eight-month lows despite escalating Middle East tensions.

U.S. stocks tumbled on Friday as a weak July jobs report as well as disappointing earnings from the likes of Intel and Amazon ignited worries that the economy could be falling into a recession under the weight of the Federal Reserve's policy of high interest rates.

The 10-year Treasury yield fell to its lowest since December as data showed nonfarm payrolls grew by just 114,000 last month, down from a downwardly revised 179,000 jobs in June and below the 185,000 expected by economists. The unemployment rate increased to 4.3 percent, the highest since October 2021.

The tech-heavy Nasdaq Composite plunged 2.4 percent to its lowest closing level in two months, the S&P 500 shed 1.8 percent to hit a nearly two-month closing low and the Dow dipped 1.5 percent to snap a four-week winning streak.

European stocks fell on Friday to extend losses from the previous session as worries about weakening U.S. growth exacerbated a rout in tech shares.

The pan-European STOXX 600 plummeted 2.7 percent, hitting an over three-month low.

The German DAX lost 2.3 percent, France's CAC 40 gave up 1.6 percent and the U.K.'s FTSE 100 declined 1.3 percent.

Asian Markets Mixed In Holiday Trading

Asian stock markets are trading mixed on Tuesday, following the mixed cues from Wall Street overnight, as traders are reluctant to make any significant moves with most of the major markets in the region are closed for Lunar New Year holidays. They also remain cautious ahead of the monetary policy announcements from the Bank of Canada, the US Fed and the European Central Bank later in the week.

RTTNews | 5h 20min atrás

Australian Market Relatively Flat In Mid-market

The Australian stock market is relatively flat in mid-market trading on Tuesday after alternating across the unchanged line, after the gains in the previous session. The benchmark S&P/ASX 200 index is staying above the 8,400.00 level, with gains in iron ore miners and financial stocks partially offset by weakness in gold miners, energy and technology stocks.

RTTNews | 5h 51min atrás

Sensex, Nifty Seen Tad Higher At Open

Indian shares are seen opening a tad higher on Tuesday after two straight sessions of losses.

RTTNews | 5h 59min atrás

Japanese Market Sharply Lower

The Japanese stock market is trading sharply lower on Tuesday, extending the losses in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 falling to remain a tad above the 38,100 level, with weakness across most sectors led by index heavyweights and technology stocks. Financial stocks were the only bright spot.

RTTNews | 7h 15min atrás

Australian Market Slightly Higher

The Australian stock market is slightly higher on Tuesday after opening in the green and briefly slipping into the red, extending the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is the 8,400 level, with gains in iron ore miners and financial stocks partially offset by losses in gold miners, energy and technology stocks.

RTTNews | 7h 34min atrás

Lower Open Anticipated For Thai Stock Market

The Thai stock market has finished lower in two of three trading days since the end of the two-day winning streak in which it had improved more than 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just above the 1,340-point plateau and it's looking at another soft start again on Tuesday. The global forecast for the Asian markets is weak, with oil and technology stocks expected to lead the way lower. The European and U.S. markets were mostly lower and the Asian bourses figure to follow suit. The SET finished modestly lower on Monday as losses from the consumer, property, resource, service and technology sectors were mitigated by support from the food, financial and industrial companies. For the day, the index dropped 13.13 points or 0.97 percent to finish at 1,340.94 after trading between 1,340.54 and 1,354.74. Volume was 6.938 billion shares worth 30.721 billion baht. There were 305 decliners and 174 gainers, with 187 stocks finishing unchanged. Among the actives, Thailand Airport tumbled 1.33 percent, while Asset World retreated 1.28 percent, Banpu added 0.94 percent, Bangkok Bank advanced 0.98 percent, Bangkok Dusit Medical skidded 0.85 percent, Bangkok Expressway spiked 2.26 percent, B. Grimm declined 1.27 percent, BTS Group increased 0.81 percent, CP All Public gained 0.45 percent, Charoen Pokphand Foods soared 3.60 percent, Energy Absolute skyrocketed 12.93 percent, Gulf stumbled 1.65 percent, Kasikornbank collected 0.32 percent, Krung Thai Bank rallied 2.21 percent, Krung Thai Card shed 0.49 percent, PTT Oil & Retail sank 0.86 percent, PTT Exploration and Production lost 0.82 percent, PTT Global Chemical dropped 0.89 percent, Siam Commercial Bank improved 0.81 percent, Siam Concrete slumped 0.96 percent, TTB Bank climbed 1.07 percent and SCG Packaging, Advanced Info, True Corporation, PTT and Thai Oil were unchanged.

RTTNews | 7h 38min atrás

Win Streak May End For Hong Kong Stock Market

The Hong Kong stock market has moved higher in two straight sessions, advancing almost 500 points or 2.5 percent along the way. The Hang Seng now sits just beneath the 20,200-point plateau although it may run out of steam on Tuesday. The global forecast for the Asian markets is weak, with oil and technology stocks expected to lead the way lower. The European and U.S. markets were mostly lower and the Asian bourses figure to follow suit. The Hang Seng finished modestly higher on Monday following gains from the financial shares, property stocks and technology companies. For the day, the index improved 131.58 points or 0.66 percent to finish at 20,197.77 after trading between 20,118.02 and 20,296.94. Among the actives, Alibaba Group and ENN Energy Holdings both soared 2.95 percent, while Alibaba Health Info advanced 1.17 percent, ANTA Sports gained 0.80 percent, China Life Insurance collected 0.41 percent, China Mengniu Dairy picked up 0.39 percent, China Resources Land rallied 1.72 percent, CITIC sank 0.45 percent, CNOOC climbed 1.19 percent, CSPC Pharmaceutical strengthened 1.58 percent, Galaxy Entertainment surged 3.31 percent, Haier Smart Home spiked 2.16 percent, Hang Lung Properties skyrocketed 4.37 percent, Henderson Land perked 0.23 percent, Hong Kong & China Gas improved 1.35 percent, Industrial and Commercial Bank of China jumped 1.71 percent, JD.com added 1.03 percent, Lenovo was up 0.21 percent, Li Auto accelerated 2.56 percent, Li Ning lost 0.25 percent, Meituan eased 0.20 percent, New World Development gathered 0.48 percent, Nongfu Spring oved up 0.14 percent, Techtronic Industries tumbled 1.42 percent, Xiaomi Corporation rose 0.68 percent and WuXi Biologics increased 1.21 percent.

RTTNews | 8h 8min atrás

Singapore Shares Likely To Open In The Red On Tuesday

The Singapore stock market has moved lower in consecutive trading days, easing almost 10 points or 0.3 percent in that span. The Straits Times Index now sits just beneath the 3,800-point plateau and it's expected to extend its losses again on Tuesday. The global forecast for the Asian markets is weak, with oil and technology stocks expected to lead the way lower. The European and U.S. markets were mostly lower and the Asian bourses figure to follow suit. The STI finished modestly lower on Monday following losses from the trusts, gains from the banks and mixed performances from the properties and industrials. For the day, the index lost 7.55 points or 0.20 percent to finish at 3,796.71 after trading between 3,790.75 and 3,806.06. Among the actives, CapitaLand Integrated Commercial Trust retreated 1.03 percent, while City Developments sank 0.40 percent, DBS Group collected 0.21 percent, DFI Retail added 0.44 percent, Genting Singapore tumbled 1.34 percent, Hongkong Land rallied 1.41 percent, Keppel DC REIT plummeted 7.93 percent, Keppel Ltd slumped 0.73 percent, Mapletree Industrial Trust plunged 2.73 percent, Oversea-Chinese Banking Corporation perked 0.12 percent, SATS dropped 0.58 percent, Seatrium Limited tanked 1.77 percent, SembCorp Industries lost 0.36 percent, Singapore Technologies Engineering jumped 1.46 percent, Thai Beverage declined 0.93 percent, Wilmar International skidded 0.65 percent, Yangzijiang Financial climbed 1.11 percent, Yangzijiang Shipbuilding strengthened 1.34 percent and Mapletree Pan Asia Commercial Trust, CapitaLand Investment, SingTel, Emperador, Mapletree Logistics Trust and Comfort DelGro were unchanged. The lead from Wall Street is pretty awful as the major averages opened under water on Monday. The Dow managed to climb into positive territory, but the NASDAQ and S&P 500 finished with heavy losses.

RTTNews | 8h 38min atrás

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