Asian Shares Mixed Ahead Of Fed Chair's Testimony

RTTNews | il y a 721

(RTTNews) - Asian stocks ended mixed on Tuesday, the dollar treaded water and bond yields eased amid bets that Fed Chair Jerome Powell will sound less hawkish during a two-day testimony before Congress, being later in the day.

Chinese and Hong Kong markets ended sharply lower after China's new foreign minister Qin Gang warned of a potential conflict with the U.S. if Washington does not soften its rhetoric against China.

On the sidelines of the "two sessions" political gathering, he outlined China's foreign policy agenda for the coming years. He signaled closer ties with Russia and termed thee relationship with the U.S. and its allies as a source of tension and conflict.

Meanwhile, China's exports and imports continued their recent declines at the start of the year, combined figures for January and February showed.

China's Shanghai Composite index fell 1.11 percent to 3,285.10 while Hong Kong's Hang Seng index shed 0.33 percent to settle at 20,534.48.

Japanese shares eked out modest gains to reach a three-month high after data showed real wages dropped at the fastest pace since 2014 in January due to high inflation, putting less impetus on the central bank to tighten its ultra-loose policy.

The Nikkei average rose 0.25 percent to 28,309.16 ahead of the final policy meeting for Bank of Japan Governor Haruhiko Kuroda on Thursday and Friday. The broader Topix index closed 0.42 percent higher at 2,044.98.

Higher oil prices boosted energy stocks, with Inpex Corp and Japan Petroleum climbing 3 percent and 1.8 percent, respectively.

Seoul markets swung between gains and losses before finishing marginally higher. Tech heavyweights Samsung Electronics and SK Hynix dropped 1.3 percent and 0.9 percent, respectively while battery maker LG Energy Solutions jumped 3.5 percent and chemical firm LG Chem added 1.9 percent.

South Korea's GDP contracted 0.4 percent sequentially in the fourth quarter, revised central bank data showed earlier today, matching the advance estimate released in January.

Australian stocks rose while the Aussie dollar and government bond yields slid after Reserve Bank Governor Philip Lowe said there were indications that inflation had peaked in the country.

The Reserve Bank of Australia softened its hawkish forward guidance after lifting its cash rate 25 basis points to 3.60 percent, the 10th straight move since last May.

Investors shrugged off mixed trade balance and retail sales data. The benchmark S&P/ASX 200 gained 0.49 percent to finish at 7,364.70 while the broader All Ordinaries index ended 0.49 percent higher at 7,562.70. Mining stocks underperformed after Beijing set its lowest growth target ever.

InvoCare shares soared 35 percent after the funeral services provider received a non-binding takeover offer of $1.81 billion from asset manager TPG Global LLC.

Across the Tasman, New Zealand's benchmark S&P/NZX 50 index settled marginally higher at 11,919.56.

Overnight, U.S. stocks gave up early gains to end narrowly mixed, tracking a rebound in U.S. Treasury yields.

The tech-heavy Nasdaq Composite finished 0.1 percent lower while the Dow and the S&P 500 managed to finish in positive territory.

Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Tuesday, following the mixed cues from Wall Street overnight, as traders remain concerned about the lingering US tariff threats and uncertainty about the outlook for global economic growth. US President Donald Trump directed a top government committee to limit Chinese investment in energy, technology, and other vital U.S. industries.

RTTNews | il y a 5h 45min

Australian Market Maintains Early Losses In Mid-market

The Australian stock market is maintain its early losses in mid-market trading on Tuesday, reversing the slight gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,300 level, with weakness across most sectors led by mining and technology stocks.

RTTNews | il y a 6h 27min

Sensex, Nifty Set For A Muted Start As Tariff Worries Mount

Indian shares may open on a flat note Tuesday after suffering heavy losses in the previous session.

RTTNews | il y a 6h 37min

Thai Bourse May Open Under Pressure On Tuesday.

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 risen just over 5 points or 0.4 percent. The Stock Exchange of Thailand now sits just above the 1,235-point plateau and it's looking at a lower open again on Tuesday. The global forecast for the Asian markets is negative on growing U.S. tariff concerns. The European and U.S. markets were mostly lower and the Asian markets are also expected to open under pressure. The SET finished modestly lower on Monday as losses from the finance, property, resource, services and technology sectors were mitigated by support from the food, consumer and industrial companies. For the day, the index sank 10.36 points or 0.83 percent to finish at 1,235.85 after trading between 1,227.42 and 1,242.50. Volume was 8.853 billion shares worth 42.248 billion baht. There were 334 decliners and 170 gainers, with 159 stocks finishing unchanged. Among the actives, Thailand Airport plunged 3.45 percent, while Asset World shed 0.64 percent, Bangkok Bank retreated 1.29 percent, Bangkok Dusit Medical gained 0.43 percent, Bangkok Expressway slumped 1.54 percent, B. Grimm improved 0.79 percent, BTS Group declined 1.61 percent, CP All Public lost 0.48 percent, Charoen Pokphand Foods rallied 2.22 percent, Energy Absolute sank 0.73 percent, Gulf tanked 2.83 percent, Kasikornbank dropped 0.94 percent, Krung Thai Bank tumbled 1.67 percent, Krung Thai Card collected 0.49 percent, PTT Oil & Retail surrendered 2.46 percent, PTT Exploration and Production skidded 1.19 percent, PTT Global Chemical climbed 1.09 percent, Siam Commercial Bank fell 0.40 percent, Siam Concrete added 0.35 percent, Thai Oil jumped 1.98 percent, True Corporation plummeted 6.25 percent and TTB Bank, SCG Packaging, Advanced Info, Banpu and PTT were unchanged. The lead from Wall Street is soft as the major averages opened higher on Monday but faded quickly and finished mixed.

RTTNews | il y a 7h 6min

Indonesia Stock Market May Give Up Support At 6,700 Points

The Indonesia stock market headed south again on Monday, one session after ending the two-day losing streak in which it had given up more than 85 points or 1.2 percent. The Jakarta Composite Index now sits just beneath the 6,750-point plateau and it's looking at a soft start again on Tuesday. The global forecast for the Asian markets is negative on growing U.S. tariff concerns. The European and U.S. markets were mostly lower and the Asian markets are also expected to open under pressure. The JCI finished modestly lower on Monday following losses from the telecoms, financial shares and cement companies, while the resource stocks were mixed. For the day, the index lost 53.40 points or 0.78 percent to finish at 6,749.60 after trading between 6,732.41 and 6,818.79. Among the actives, Bank CIMB Niaga tumbled 1.74 percent, while Bank Mandiri dropped 0.99 percent, Bank Danamon Indonesia skidded 1.19 percent, Bank Negara Indonesia 2.33 percent, Bank Central Asia sank 0.83 percent, Bank Rakyat Indonesia collected 0.77 percent, Indosat Ooredoo Hutchison surrendered 3.18 percent, Indocement stumbled 2.44 percent, Semen Indonesia fell 0.36 percent, Indofood Sukses Makmur rallied 2.60 percent, United Tractors jumped 1.73 percent, Astra International slumped 1.05 percent, Energi Mega Persada plunged 3.81 percent, Aneka Tambang improved 1.23 percent, Jasa Marga retreated 1.44 percent, Vale Indonesia plummeted 3.61 percent, Timah strengthened 1.46 percent, Bumi Resources declined 1.82 percent and Bank Maybank Indonesia and Astra Agro Lestari were unchanged.

RTTNews | il y a 7h 36min

Japanese Market Significantly Lower

The Japanese stock market is significantly lower in post-holiday trading on Tuesday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight, with the Nikkei 225 falling below the 38,400 level, with weakness across most sectors led by index heavyweights and technology stocks.

RTTNews | il y a 7h 40min

Hong Kong Shares Tipped To Open In The Red

The Hong Kong stock market turned lower again on Monday, one session after ending the two-day slide in which it had dropped almost 470 points or 2.1 percent. The Hang Seng Index now sits just above the 23,340-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is negative on growing U.S. tariff concerns. The European and U.S. markets were mostly lower and the Asian markets are also expected to open under pressure. The Hang Seng finished modestly lower on Monday as losses from the technology and financial shares were offset by support from the property sector. For the day, the index slumped 136.31 points or 0.58 percent to finish at 23,341.61 after trading between 23,221.57 and 23,688.45. Among the actives, Alibaba Group slumped 2.02 percent, while Alibaba Health Info plunged 5.13 percent, ANTA Sports accelerated 3.84 percent, China Life Insurance rallied 3.82 percent, China Mengniu Dairy soared 4.69 percent, China Resources Land increased 1.80 percent, CITIC perked 0.11 percent, CNOOC tumbled 2.27 percent, CSPC Pharmaceutical gained 1.00 percent, Galaxy Entertainment spiked 4.41 percent, Haier Smart Home strengthened 3.00 percent, Hang Lung Properties improved 2.20 percent, Henderson Land added 1.70 percent, Hong Kong & China Gas rose 0.99 percent, Industrial and Commercial Bank of China sank 0.36 percent, JD.com fell 0.31 percent, Lenovo tanked 4.56 percent, Li Auto stumbled 2.93 percent, Li Ning jumped 3.02 percent, Meituan advanced 2.21 percent, New World Development surged 6.77 percent, Nongfu Spring climbed 2.37 percent, Techtronic Industries retreated 1.55 percent, Xiaomi Corporation dipped 0.19 percent and WuXi Biologics plummeted 9.04 percent. The lead from Wall Street is soft as the major averages opened higher on Monday but faded quickly and finished mixed.

RTTNews | il y a 7h 51min

Australian Market Significantly Lower

The Australian stock market is significantly lower on Tuesday, reversing the slight gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,300 level, with weakness across most sectors led by mining and technology stocks.

RTTNews | il y a 8h 1min

EURUSD	1.0474	GBPUSD	1.26331	AUDUSD	0.63532
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