Asian Shares Retreat Ahead Of US CPI Data

RTTNews | il y a 40

(RTTNews) - Asian stocks declined on Wednesday as investors watched the latest updates on the Trump-Harris presidential debate and braced for U.S. consumer price inflation data that could influence the Federal Reserve's policy moves next week.

Analysts expect the headline CPI to have risen 0.2 percent month-on-month in August, unchanged from the previous month.

The dollar dropped while gold gained ground due to dovish Fed expectations. Current expectations lean towards a 25-bps cut, but that won't be enough to get ahead of the economy.

Oil prices rose more than 1 percent in Asian trading, after having dropped to near three years low in the New York session on concerns over a weak demand outlook.

Chinese markets hit a seven-month low as the U.S. House of Representatives approved BIOSECURE Act, restricting U.S. ties with specific Chinese biotech companies to safeguard national security.

The benchmark Shanghai Composite index fell 0.82 percent to 2,721.80. Hong Kong's Hang Seng index settled 0.73 percent lower at 17,108.71, after having fallen to a near one-month low earlier.

Japanese markets tumbled while the yen surged to an eight-month high after Bank of Japan board member Junko Nakagawa signaled readiness to raise rates further if the economy and inflation move in line with forecasts.

The Nikkei average fell 1.49 percent to 35,619.77 while the broader Topix index closed 1.78 percent lower at 2,530.67. Automakers Honda Motor, Toyota, Nissan and Mitsubishi Motors slumped 3-4 percent.

Seoul stocks ended lower for a seventh consecutive session due to selling by foreign investors. The Kospi average dropped 0.4 percent to 2,513.37, dragged down by financials and tech stocks.

Samsung Electronics gave up 2 percent, KB Financial Group plummeted 6 percent and Shinhan Financial Group plunged 6.2 percent.

Australian markets ended modestly lower after Reserve Bank of Australia Assistant Governor Sarah Hunter said the labor market is still tight relative to full employment.

The benchmark S&P/ASX 200 slipped 0.30 percent to 7,987.90, with banks and energy stocks leading losses. The broader All Ordinaries index settled 0.27 percent lower at 8,195.20.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index finished marginally lower at 12,632.35.

U.S. stocks fluctuated before closing mixed overnight ahead of the Harris-Trump debate and August's CPI inflation report.

The tech-heavy Nasdaq Composite gained 0.8 percent and the S&P 500 added half a percent to score back-to-back gains.

The Dow dipped 0.2 percent, pressured by a fall in oil prices to near three-year lows and a slew of cautious comments from American bank executives.

Hong Kong Shares Tipped To Open In The Red

The Hong Kong stock market headed south again on Monday, one session after halting the four-day losing streak in which it had stumbled almost 1,100 points or 5.2 percent. The Hang Seng Index now sits just above the 20,475-point plateau and it's looking at another soft start again on Tuesday. The global forecast for the Asian markets is negative with profit taking likely for many of the regions. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead.

RTTNews | il y a 4h 11min

Soft Start Predicted For China Stock Market

The China stock market has finished higher in back-to-back sessions, gathering almost 100 points or 3 percent along the way. The Shanghai Composite now sits just beneath the 3,270-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is negative with profit taking likely for many of the regions. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead. The SCI finished slightly higher on Monday following mixed performances from the property stocks and resource companies, while the financials and oil companies were down. For the day, the index rose 6.55 points or 0.20 percent to finish at 3,268.11 after trading between 3,239.10 and 3,300.66. The Shenzhen Composite Index jumped 30.10 points or 1.58 percent to end at 1,936.97. Among the actives, Industrial and Commercial Bank of China tanked 2.53 percent, while Bank of China declined 1.98 percent, China Construction Bank dropped 1.93 percent, China Merchants Bank lost 0.51 percent, Agricultural Bank of China stumbled 2.42 percent, China Life Insurance rose 0.21 percent, Jiangxi Copper jumped 1.90 percent, Aluminum Corp of China (Chalco) rallied 2.46 percent, Yankuang Energy strengthened 1.83 percent, PetroChina sank 0.94 percent, China Petroleum and Chemical (Sinopec) fell 0.30 percent, Huaneng Power shed 0.57 percent, China Shenhua Energy retreated 1.57 percent, Gemdale soared 2.43 percent, Poly Developments spiked 2.77 percent and China Vanke tumbled 1.92 percent.

RTTNews | il y a 4h 26min

Rally May Stall For Taiwan Stock Market

The Taiwan stock market has climbed higher in three straight sessions, advancing more than 530 points or 2.4 percent along the way. The Taiwan Stock Exchange now rests just above the 23,540-point plateau although it may run out of steam on Tuesday. The global forecast for the Asian markets is negative with profit taking likely for many of the regions. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead.

RTTNews | il y a 4h 56min

Singapore Stock Market May Give Up Support At 3,600 Points

The Singapore stock market on Monday ended the two-day winning streak in which it had advanced almost 50 points or 1.4 percent. The Straits Times Index now sits just shy of the 3,615-point plateau and it may take further damage on Tuesday. The global forecast for the Asian markets is negative with profit taking likely for many of the regions. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead. The STI finished modestly lower on Monday following losses from the industrials and financials, while the property sector was mixed. For the day, the index sank 25.61 points or 0.70 percent to finish at 3,614.58 after trading between 3,612.02 and 3,640.28. Among the actives, CapitaLand Integrated Commercial Trust slumped 0.94 percent, while CapitaLand Investment shed 0.67 percent, City Developments added 0.76 percent, Comfort DelGro gained 0.69 percent, DBS Group tumbled 1.36 percent, DFI Retail Group urged 2.28 percent, Emperador climbed 1.18 percent, Genting Singapore rose 0.59 percent, Hongkong Land plunged 1.99 percent, Keppel DC REIT jumped 1.33 percent, Keppel Ltd fell 0.31 percent, Mapletree Industrial Trust dropped 0.81 percent, Oversea-Chinese Banking Corporation and Yangzijiang Shipbuilding both sank 0.78 percent, Seatrium Limited lost 0.51 percent, SembCorp Industries slid 0.18 percent, Singapore Technologies Engineering plummeted 2.08 percent, SingTel stumbled 1.23 percent, Thai Beverage advanced 0.93 percent, UOL Group was up 0.18 percent, Wilmar International rallied 1.22 percent and Mapletree Pan Asia Commercial Trust, Mapletree Logistics Trust, SATS and Yangzijiang Financial were unchanged.

RTTNews | il y a 5h 26min

Malaysia Bourse May Extend Monday's Losses

The Malaysia stock market on Monday ended the two-day winning streak in which it had picked up almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,645-point plateau and the losses may accelerate on Tuesday. The global forecast for the Asian markets is negative with profit taking likely for many of the regions. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead. The KLCI finished barely lower on Monday following mixed performances from the financial shares, property stocks, industrials and telecoms. For the day, the index eased 0.31 points or 0.02 percent to finish at 1,645.68 after trading between 1,642.52 and 1,648.05. Among the actives, Celcomdigi slumped 0.83 percent, while CIMB Group collected 0.61 percent, Genting added 0.49 percent, IHH Healthcare perked 0.14 percent, Kuala Lumpur Kepong retreated 0.94 percent, Maxis dropped 0.54 percent, MISC increased 0.52 percent, MRDIY tumbled 1.36 percent, Nestle Malaysia tanked 1.64 percent, Petronas Chemicals jumped 1.07 percent, Petronas Dagangan rallied 2.23 percent, Petronas Gas climbed 0.91 percent, PPB Group improved 0.70 percent, Press Metal advanced 0.83 percent, RHB Bank fell 0.16 percent, Sime Darby sank 0.41 percent, SD Guthrie gained 0.21 percent, Sunway lost 0.22 percent, Telekom Malaysia rose 0.15 percent, Tenaga Nasional shed 0.27 percent, YTL Corporation plummeted 3.03 percent, YTL Power plunged 2.56 percent and Axiata, Public Bank, QL Resources, Genting Malaysia, IOI Corporation and Maybank were unchanged.

RTTNews | il y a 5h 56min

South Korea Bourse May Hand Back Monday's Gains

The South Korea stock market on Monday snapped the three-day slide in which it had slumped almost 40 points or 1.6 percent. The KOSPI now sits just above the 2,600-point plateau although it may see renewed selling pressure on Tuesday. The global forecast for the Asian markets is negative with profit taking likely for many of the regions. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead. The KOSPI finished modestly higher on Monday following gains from the chemical companies and a mixed performance from the financials and technology stocks. For the day, the index added 11.1 points or 0.43 percent to finish at 2,604.92 after trading between 2,594.05 and 2,618.71. Volume was 235.86 million shares worth 7.6 trillion won. There were 434 gainers and 427 decliners. Among the actives, Shinhan Financial retreated 1.24 percent, while KB Financial dropped 0.95 percent, Hana Financial skidded 1.07 percent, Samsung Electronics fell 0.34 percent, Samsung SDI rallied 1.36 percent, LG Electronics dipped 0.10 percent, SK Hynix jumped 1.92 percent, LG Chem added 0.61 percent, Lotte Chemical spiked 2.79 percent, SK Innovation accelerated 2.05 percent, POSCO shed 0.43 percent, SK Telecom perked 0.18 percent, KEPCO advanced 0.95 percent, Hyundai Mobis was down 0.20 percent, Hyundai Motor climbed 1.07 percent, Kia Motors eased 0.11 percent and Naver was unchanged.

RTTNews | il y a 6h 26min

TSX Turns Weak After Hitting New High, Ends 0.4% Down

The Canadian market rose to a new record high Monday morning, but retreated soon and stayed weak right through the session as investors turned cautious ahead of earnings updates and some key economic events, including the Bank of Canada's monetary policy meeting due this week.

RTTNews | il y a 7h 34min

New Zealand Trade Data Due On Tuesday

New Zealand will on Tuesday release September figures for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.

RTTNews | il y a 7h 56min

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