DAX Tumbles On Growth Worries; Banks Worst Hit

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DAX Tumbles On Growth Worries; Banks Worst Hit

(RTTNews) - German stocks fell sharply on Monday and Eurozone bond yields rose as last week's red-hot inflation data stoked expectations of aggressive interest rate hikes by the European Central Bank.

Meanwhile, German manufacturing activity contracted for a third month in a row in September, a survey showed earlier today, adding to worries over a looming recession. S&P Global's final Purchasing Managers' Index (PMI) for manufacturing, which accounts for about a fifth of Germany's economy, dropped to 47.8, marking the lowest level since June 2020 and down from 49.1 in August.

The benchmark DAX fell 160 points, or 1.3 percent, to 11,954 after climbing 1.2 percent on Friday.

Lender Commerzbank lost 4.3 percent and Deutsche Bank plummeted 4.7 percent on concerns about Swiss bank Credit Suisse's liquidity and capital position.

United Internet fell about 1 percent despite the company confirming its FY sales forecast.

RWE AG, an energy firm, rose over 1 percent after it agreed to buy Con Edison's Clean Energy Businesses for an enterprise value of $6.8 billion.

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Singapore Bourse May Hand Back Thursday's Gains

Singapore Bourse May Hand Back Thursday's Gains

The Singapore stock market on Thursday wrote a finish to the five-day losing streak in which it had stumbled almost 115 points or 3 percent. The Straits Tines Index now rests just above the 3,800-point plateau although it may face renewed selling pressure on Friday.
RTTNews | 5घंटे 2 मिनट पहले
Losing Streak May Continue For Malaysia Stock Market

Losing Streak May Continue For Malaysia Stock Market

The Malaysia stock market has finished lower in four straight sessions, slipping almost 50 points or 2.6 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,555-point plateau and it may take further damage again on Friday.
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Japan Stock Market May See Renewed Consolidation

The Japanese stock market on Thursday ended the five-day losing streak in which it had plummeted more than 1,630 points or 4.3 percent. The Nikkei 225 now rests just above the 38,570-point plateau although it may hand back those gains on Friday.
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South Korea Shares Likely To Remain Rangebound

South Korea Shares Likely To Remain Rangebound

The South Korea stock market has moved higher in two of three trading days since the end of the two-day slide in which it had fallen almost 35 points or 1.4 percent. The KOSPI now sits just above the 2,525-point plateau although it figures to head south again on Friday.
RTTNews | 6घंटे 2 मिनट पहले
China Data On Tap For Friday

China Data On Tap For Friday

China is scheduled to release a batch of data on Friday, headlining a modest day for Asia-Pacific economic activity. On tap are Q4 numbers for GDP and December figures for industrial production, retail sales, fixed asset investment and unemployment.
RTTNews | 6घंटे 32 मिनट पहले
New Zealand Manufacturing PMI Improves To 45.9 - BusinessNZ

New Zealand Manufacturing PMI Improves To 45.9 - BusinessNZ

The manufacturing sector in New Zealand continued to contract in December, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 45.9.
RTTNews | 6घंटे 45 मिनट पहले
TSX Closes Higher For 3rd Straight Day

TSX Closes Higher For 3rd Straight Day

Canadian stocks closed higher on Thursday, extending gains to a third straight session, with investors shifting their focus to earnings updates and expecting a couple of rate cuts by the Federal Reserve this year.
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