Continued Consolidation Likely For Hong Kong Shares

RTTNews | 194 days ago

(RTTNews) - The Hong Kong stock market has moved lower in consecutive trading days, slumping more than 260 points or 1.4 percent in that span. The Hang Seng Index now sits just above the 18,310-point plateau and it's looking at another soft start for Thursday's trade.

The global forecast for the Asian markets is uninspired thanks to uncertainty over the outlook for interest rates. The European markets were slightly higher and the U.S. bourses were mixed and flat and the Asian markets figure to follow the latter lead.

The Hang Seng finished modestly lower on Wednesday following losses from the financial shares, property stocks and technology companies.

For the day, the index stumbled 165.51 points or 0.90 percent to finish at 18,313.86 after trading between 18,298.36 and 18,606.56.

Among the actives, Alibaba Group slumped 2.43 percent, while Alibaba Health Info added 0.33 percent, ANTA Sports retreated 2.55 percent, China Life Insurance declined 2.50 percent, China Mengniu Dairy tumbled 3.50 percent, China Resources Land plunged 5.20 percent, CITIC dropped 1.94 percent, Country Garden plummeted 5.68 percent, CSPC Pharmaceutical dipped 0.15 percent, Galaxy Entertainment slid 0.94 percent, Hang Lung Properties tanked 4.05 percent, Henderson Land lost 1.63 percent, Hong Kong & China Gas fell 0.97 percent, Industrial and Commercial Bank of China was down 0.46 percent, JD.com eased 0.32 percent, Lenovo slipped 0.53 percent, Li Ning sank 1.88 percent, Meituan shed 1.73 percent, New World Development surrendered 3.70 percent, Techtronic Industries stumbled 3.13 percent, Xiaomi Corporation surged 6.47 percent, WuXi Biologics skidded 2.08 percent and CNOOC was unchanged.

The lead from Wall Street offers little clarity as the major averages opened lower but ultimately wound up mixed and little changed.

The Dow added 172.13 points or 0.44 percent to finish at 39,056.39, while the NASDAQ sank 29.80 points or 0.18 percent to close at 16,302.76 and the S&P 500 eased 0.03 points or 0.00 percent to end at 5,187.67.

The choppy trading on Wall Street came amid lingering uncertainty about the outlook for interest rates following Tuesday's remarks by Minneapolis Federal Reserve President Neel Kashkari.

Kashkari suggested interest rates may need to remain at current levels for an extended period and said he couldn't rule out another rate increase.

The Federal Reserve is still widely expected to lower rates sometime in the third quarter, however, with CME Group's FedWatch Tool currently indicating an 83.5 percent chance rates will be lower by September.

Oil futures settled higher on Wednesday after data from the Energy Information Administration (EIA) showed crude inventories rose last week. West Texas Intermediate Crude oil futures for June ended higher by $0.61 or 0.78 percent at $78.99 per barrel.

Rebound Anticipated For Singapore Stock Market

The Singapore stock market on Monday ended the three-day winning streak in which it had collected more than 30 points or 0.8 percent. The Straits Times Index now sits just above the 3,730-point plateau although it's likely to bounce higher again on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The STI finished modestly lower on Monday following mixed performances from the financial shares, property stocks and industrial issues. For the day, the index lost 12.15 points or 0.32 percent to finish at 3,732.55 after trading between 3,727.94 and 3,754.82. Among the actives, CapitaLand Integrated Commercial Trust skidded 1.01 percent, while CapitaLand Investment advanced 0.72 percent, City Developments added 0.39 percent, DBS Group retreated 1.26 percent, DFI Retail surged 3.42 percent, Hongkong Land tanked 2.14 percent, Keppel DC REIT sank 0.45 percent, Keppel Ltd rose 0.30 percent, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust rallied 0.81 percent, SATS plunged 2.60 percent, Seatrium Limited declined 1.08 percent, SembCorp Industries tumbled 1.37 percent, Singapore Technologies Engineering plummeted 5.52 percent, SingTel dropped 0.63 percent, Thai Beverage jumped 0.97 percent, Wilmar International spiked 1.31 percent, Yangzijiang Shipbuilding slumped 0.79 percent and Emperador, Genting Singapore, Yangzijiang Financial, Frasers Logistics & Commercial Trust, Oversea-Chinese Banking Corporation, Frasers Centrepoint Trust, Mapletree Logistics Trust and Comfort DelGro were unchanged.

RTTNews | 5h 25min ago

Malaysia Stock Market Poised To Open To The Upside On Tuesday

The Malaysia stock market on Monday snapped the two-day slide in which it had slumped almost 20 points or 1.2 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it's tipped to open in the green again on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The KLCI finished modestly higher on Monday following gains from the telecoms and plantations, while the financial and industrial sectors were mixed. For the day, the index improved 11.60 points or 0.73 percent to finish at 1,604.04 after trading between 1,591.49 and 1,605.41. Among the actives, Axiata rallied 1.34 percent, while Celcomdigi strengthened 1.20 percent, CIMB Group was up 0.24 percent, Genting gained 0.53 percent, Genting Malaysia jumped 1.42 percent, IHH Healthcare eased 0.14 percent, IOI Corporation accelerated 1.53 percent, Kuala Lumpur Kepong gathered 0.46 percent, Maxis surged 3.78 percent, Maybank dipped 0.19 percent, MISC sank 0.66 percent, MRDIY added 0.55 percent, Nestle Malaysia slid 0.20 percent, Petronas Chemicals fell 0.22 percent, PPB Group dropped 0.70 percent, Press Metal skyrocketed 6.59 percent, Public Bank collected 0.67 percent, QL Resources improved 0.84 percent, RHB Bank rose 0.47 percent, Sime Darby perked 0.45 percent, SD Guthrie soared 2.29 percent, Sunway spiked 1.72 percent, Telekom Malaysia increased 0.48 percent, Tenaga Nasional climbed 1.13 percent, YTL Corporation shed 0.51 percent and YTL Power was unchanged. The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.

RTTNews | 5h 55min ago

South Korea Shares May Add To Their Winnings On Tuesday

The South Korea stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had plunged almost 250 points or 5.8 percent. The KOSPI now sits just beneath the 2,470-point plateau and it may tick higher again on Tuesday.

RTTNews | 6h 25min ago

Energy, Mining Stocks Lift TSX

The Canadian market closed on a firm note on Monday, lifted by gains in energy and materials stocks as commodity prices climbed higher amid an escalation in the Russia - Ukraine war.

RTTNews | 6h 28min ago

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its November 5 monetary policy meeting, highlighting a light day for Asia-Pacific economic activity.

RTTNews | 6h 55min ago

Dollar Slips Against Major Counterparts

The U.S. dollar drifted lower on Monday as bond yields fell, and the Euro gained in strength after European Central Bank Governing Council member Nagel said central banks may have to raise rates in the event of inflationary pressures rise.

RTTNews | 7h 16min ago

Canadian Market Modestly Higher, Looks Headed For Positive Close

The Canadian market is up in positive territory Monday afternoon with energy and materials shares recording strong gains thanks to higher commodity prices. The mood remains a bit cautious amid concerns about geopolitical tensions, and uncertainty about the Federal Reserve's monetary policy moves.

RTTNews | 9h 31min ago

Swiss Market Ends Marginally Up

The Switzerland market closed marginally up on Monday after spending much of the day's session in negative territory. It was a lackluster session with investors looking for directional cues and refraining from making significant moves.

RTTNews | 10h 26min ago

EURUSD	1.05923	GBPUSD	1.26752	AUDUSD	0.65028
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