TSX Down Nearly 2% As Stocks Tumble On Growth Worries

RTTNews | 9h 58min atrás

(RTTNews) - The Canadian market is languishing deep down in negative territory in late afternoon trades on Monday due to heavy selling across the board amid rising fears of a recession in the U.S. and uncertainty about the outlook for global economic growth.

U.S. President Donald Trump in a Fox News interview on Sunday declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.

"There is a period of transition, because what we're doing is very big. We're bringing wealth back to America," Trump told the "Sunday Morning Futures" program.

Investors look ahead to the Bank of Canada's interest rate decsion on Wednesday.

The benchmark S&P/TSX Composite Index was down 488.51 points or 1.97% at 24,270.25 a little while ago.

Technology, materials, industrials, real estate and financials shares are among the major losers. Communications stocks are bucking the trend, with several stocks in the sector making notable progress up north.

Methanex is plunging more than 14%. The company announced that its 1.8 million tonne methanol G3 plant in Geismar, Louisiana was impacted by an unplanned outage in late February.

Whitecap Resources, Aritzia, Lundin Gold, BlackBerry, Teck Resources, Shopify, First Quantum Minerals, Celestica, Bombardier and Equinox Gold are some of the big losers.

Franco-Nevada Corp is gaining about 1.5%. The gold-focused royalty and streaming company, reported Monday that it turned around to a net income of $175.4 million in its fourth quarter from prior year's net loss of $982.5 million.

Earnings per share were $0.91, compared to loss per share of $5.11 a year ago. Adjusted net income was $183.3 million, compared to $172.9 million last year. Adjusted net income per share were $0.95, compared to prior year's $0.90.

Crescent Point Energy is soaring 18%. Corus Entertainment is up 5.3% and Keyera is gaining 3.2%. Brookfield Renewable, AltaGas, Algonquine Power, and BCE are up 2 to 3%.

No Help Yet For China Stock Market

The China stock market has moved lower in two straight sessions, retreating almost 15 points or 0.5 percent in that span. The SCI now sits just above the 3,365-point plateau although it's looking at another soft start again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.

RTTNews | 4h 6min atrás

More Pain Predicted For Taiwan Stock Market

The Taiwan stock market has finished lower in three straight sessions, shedding almost 420 points or 1.8 percent in that span. The Taiwan Stock Exchange now sits just above the 22,450-point plateau and it figures to open under water again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The TSE finished modestly lower again on Monday following mixed performances from the financial shares and technology stocks. For the day, the index slumped 116.92 points or 0.52 percent to finish at 22,459.15 after trading between 22,407.57 and 22,641.25. Among the actives, Cathay Financial and CTBC Financial both perked 0.16 percent, while Mega Financial collected 0.63 percent, Fubon Financial fell 0.22 percent, E Sun Financial improved 0.70 percent, Taiwan Semiconductor Manufacturing Company sank 0.70 percent, United Microelectronics Corporation rallied 2.04 percent, Largan Precision retreated 1.67 percent, Catcher Technology gained 0.73 percent, MediaTek plunged 4.78 percent, Novatek Microelectronics shed 0.37 percent, Formosa Plastics advanced 1.03 percent, Nan Ya Plastics climbed 1.05 percent, Asia Cement was up 0.11 percent and Hon Hai Precision was unchanged.

RTTNews | 4h 36min atrás

Japan Household Spending Adds 0.8% On Year In January

The average of household spending in Japan was up 0.8 percent on year in January, the Ministry of Internal Affairs and Communications said on Tuesday - coming in at 305,521 yen.

RTTNews | 4h 51min atrás

Japan GDP Adds 0.6% On Quarter In Q4

Japan's gross domestic product expanded a seasonally adjusted 0.6 percent on quarter in the fourth quarter of 2024, the Cabinet Office said in Tuesday's second preliminary estimate.

RTTNews | 4h 56min atrás

Singapore Stock Market Poised To Open Under Water On Tuesday

The Singapore stock market has tracked lower in back-to-back sessions, sinking almost 20 points or 0.5 percent along the way. The Straits Time Index now sits just beneath the 3,900-point plateau and the losses may accelerate on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The STI finished modestly lower on Monday following losses among the financial shares, property stocks and industrial issues. For the day, the index fell 15.41 points or 0.39 percent to finish at the daily low of 3,899.07 after peaking at 3,922.66. Among the actives, CapitaLand Investment sank 0.77 percent, while City Developments declined 1.19 percent, Comfort DelGro shed 0.68 percent, DBS Group eased 0.28 percent, Frasers Logistics & Commercial Trust spiked 1.79 percent, Genting Singapore rallied 1.41 percent, Hongkong Land stumbled 1.79 percent, Keppel DC REIT added 0.49 percent, Keppel Ltd slid 0.44 percent, Mapletree Industrial Trust advanced 1.00 percent, Mapletree Logistics Trust skidded 0.80 percent, Oversea-Chinese Banking Corporation lost 0.64 percent, Seatrium Limited jumped 1.43 percent, SembCorp Industries retreated 1.27 percent, Singapore Technologies Engineering slumped 1.14 percent, SingTel tumbled 1.75 percent, UOL Group climbed 1.38 percent, Venture Corporation rose 0.24 percent, Wilmar International fell 0.61 percent, Yangzijiang Financial dropped 0.78 percent, Yangzijiang Shipbuilding dipped 0.42 percent and Thai Beverage, Mapletree Pan Asia Commercial Trust, DFI Retail, Frasers Centrepoint Trust, CapitaLand Integrated Commercial Trust, Emperador and SATS were unchanged.

RTTNews | 5h 6min atrás

Losing Streak May Continue For Malaysia Stock Market

The Malaysia stock market has tracked lower in three straight sessions, slumping almost 30 points or 2 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,535-point plateau and it may take further damage again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.

RTTNews | 5h 36min atrás

Japan Stock Market Tipped To Open In The Red

The Japanese stock market rebounded on Monday, one session after snapping the two-day winning streak in which it had rallied more than 370 points or 1 percent. The Nikkei 225 now rests just shy of the 37,030-point plateau although it figures to head south again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The Nikkei finished modestly higher on Monday following gains from the automobile producers, weakness from the technology stocks and a mixed picture from the financial shares. For the day, the index added 141.10 points or 0.38 percent to finish at 37,028.27 after trading between 36,705.02 and 37,113.48. Among the actives, Nissan Motor retreated 1.46 percent, while Mazda Motor added 0.68 percent, Toyota Motor advanced 0.93 percent, Honda Motor accelerated 0.91 percent, Softbank Group strengthened 1.43 percent, Mitsubishi UFJ Financial eased 0.13 percent, Mizuho Financial declined 1.53 percent, Sumitomo Mitsui Financial skidded 1.17 percent, Mitsubishi Electric tumbled 1.60 percent, Sony Group tanked 3.11 percent, Panasonic Holdings slumped 1.57 percent and Hitachi surrendered 2.81 percent.

RTTNews | 5h 51min atrás

Renewed Consolidation Called For South Korea Shares

The South Korea stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had advanced almost 50 points or 2 percent. The KOSPI now sits just above the 2,570-point plateau although it's likely to hand back those gains on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.

RTTNews | 6h 6min atrás

EURUSD	1.08472	GBPUSD	1.28797	AUDUSD	0.6269
USDJPY	146.712	USDCAD	1.44372	USDCHF	0.87817

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TSX Down Nearly 2% As Stocks Tumble On Growth Worries