Rally May Stall For China Stock Market

RTTNews | il y a 9h 36min
Rally May Stall For China Stock Market

(RTTNews) - The China stock market has finished higher in three straight sessions, collecting nearly 60 points or 1.8 percent along the way. The Shanghai Composite now sits just above the 3,460-point plateau although it may run out of steam on Friday.

The global forecast for the Asian markets is soft, with oil and technology shares likely to lead the way lower. The European markets were mixed and flat and the U.S. bourses were down and the Asian markets figure to split the difference.

The SCI finished modestly higher again on Thursday following gains from the financial shares and property stocks, while the resource companies were mixed.

For the day, the index gained 29.01 points or 0.85 percent to finish at 3,461.50 after trading between 3,425.98 and 3,464.12. The Shenzhen Composite Index improved 21.98 points or 1.05 percent to end at 2,112.90.

Among the actives, Industrial and Commercial Bank of China jumped 1.74 percent, while Bank of China improved 1.36 percent, China Construction Bank strengthened 1.22 percent, China Merchants Bank collected 1.31 percent, Agricultural Bank of China increased 1.21 percent, China Life Insurance spiked 2.06 percent. Jiangxi Copper advanced 0.83 percent, Aluminum Corp of China (Chalco) lost 0.38 percent, Yankuang Energy fell 0.33 percent, China Petroleum and Chemical (Sinopec) gathered 0.31 percent, Huaneng Power rose 0.28 percent, China Shenhua Energy shed 0.62 percent, Gemdale rallied 1.28 percent, Poly Developments gained 0.49 percent, China Vanke added 0.46 percent and PetroChina was unchanged.

The lead from Wall Street is negative as the major averages opened mixed on Thursday but quickly headed south and remained in the red for the balance of day, ending near session lows.

The Dow dropped 234.44 points or 0.64 percent to finish at 43,914.12, while the NASDAQ sank 132.05 points or 0.66 percent to close at 19,769.84 and the S&P 500 lost 32.94 points or 0.54 percent to end at 6,051.25.

The weakness on Wall Street came as traders looked to cash in on the strong performance seen on Wednesday, when the tech-heavy NASDAQ closed above 20,000 for the first time ever.

Some negative sentiment was also generated in reaction to a Labor Department report showing producer prices in the U.S. increased by more than expected in the month of November.

While the Federal Reserve is still widely expected to lower interest rates next week, the data has raised some concerns about how quickly the central bank will cut rates early next year.

Oil futures closed lower Thursday after three days of gains after the International Energy Agency's forecast that the oil market will see excess supply next year. West Texas Intermediate Crude oil futures for January fell $0.27 or 0.4 percent at $70.02 a barrel.

read more
Sensex, Nifty Fall On Global Jitters; Metal Stocks Hit Hard

Sensex, Nifty Fall On Global Jitters; Metal Stocks Hit Hard

Indian shares opened lower on Friday after the readout from a high-level economic policy meeting in Beijing offered another round of strong language about helping the economy but lacked detail about policy or stimulus moves.
RTTNews | il y a 6h 3min
Asian Markets Tracks Wall Street Lower

Asian Markets Tracks Wall Street Lower

Asian stock markets are trading mostly lower on Friday, following the broadly negative cues from Wall Street overnight, as traders are now concerned about how quickly the US Fed will continue to lower interest rates next year after a report showed producer prices in the U.S. increased by more than expected in the month of November. Asian markets ended mixed on Thursday.
RTTNews | il y a 7h 19min
Sensex, Nifty Seen Drifting Lower On Weak Asian Cues

Sensex, Nifty Seen Drifting Lower On Weak Asian Cues

Indian shares are seen opening on a sluggish note Friday amid weak global cues and concerns over rising crude oil prices as investors weigh the prospect for tighter U.S. sanctions against Iran and Russia.
RTTNews | il y a 7h 58min
Japanese Market Significantly Lower

Japanese Market Significantly Lower

Snapping a four-session winning streak, the Japanese stock market is significantly lower on Friday, following the broadly negative cues from Wall Street overnight. The benchmark Nikkei 225 is falling below the 39,500 level, with weakness across most sectors led by index heavyweights, technology and financial stocks.
RTTNews | il y a 8h 24min
Thai Stock Market Likely To Extend Losing Streak

Thai Stock Market Likely To Extend Losing Streak

The Thai stock market has finished lower in three straight sessions, slipping more than a dozen points or 0.9 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,440-point plateau and it may take further damage again on Friday.
RTTNews | il y a 8h 36min
Indonesia Stock Market Tipped To Open In The Red

Indonesia Stock Market Tipped To Open In The Red

The Indonesia stock market on Thursday wrote a finish to the four-day winning streak in which it had rallied almost 150 points or 2.2 percent. The Jakarta Composite Index now sits just beneath the 7,400-point plateau and it's expected to extend its losses on Friday.
RTTNews | il y a 9h 6min
Australian Market Notably Lower

Australian Market Notably Lower

The Australian stock market is notably lower on Friday, extending the losses in the previous three sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,300 level, with weakness across most sectors led by mining and technology stocks.
RTTNews | il y a 9h 21min