Soft Start Called For China Stock Market

RTTNews | 82日前
Soft Start Called For China Stock Market

(RTTNews) - The China stock market on Wednesday ended the three-day losing streak in which it had retreated more than 100 points or 3 percent. The Shanghai Composite Index now rests just above the 3,380-point plateau although it's expected to open in the red on Thursday.

The global forecast for the Asian markets suggests major consolidation on the deteriorating outlook for interest rates. The European markets were mixed and flat and the U.S. bourses were sharply lower and the Asian markets figure to follow the latter lead.

The SCI finished modestly higher on Wednesday as gains from the financials and energy companies were capped by weakness from the resource stocks.

For the day, the index gained 20.72 points or 0.62 percent to finish at 3,382.21 after trading between 3,371.30 and 3,396.46. The Shenzhen Composite Index improved 11.75 points or 0.58 percent to end at 2,025.53.

Among the actives, Industrial and Commercial Bank of China rallied 1.23 percent, while China Construction Bank collected 0.71 percent, China Merchants Bank jumped 1.77 percent, China Life Insurance gathered 0.22 percent, Jiangxi Copper shed 0.57 percent, Aluminum Corp of China (Chalco) dipped 0.14 percent, Yankuang Energy perked 0.21 percent, PetroChina rose 0.35 percent, China Petroleum and Chemical (Sinopec) climbed 1.09 percent, Huaneng Power strengthened 1.42 percent, China Shenhua Energy added 0.61 percent, Gemdale skidded 1.03 percent, Poly Developments eased 0.11 percent and China Vanke, Agricultural Bank of China and Bank of China were unchanged.

The lead from Wall Street is brutal as the major averages opened flat on Wednesday and stayed that way for most of the session before plummeting after the FOMC's interest rate statement.

The Dow crashed 1,123.03 points or 2.58 percent to finish at 42,326.87, while the NASDAQ tanked 716.37 points or 3.56 percent to close at 19,392.69 and the S&P 500 sank 178.45 points or 2.95 percent to end at 5,872.16.

The sell-off on Wall Street came after the Federal Reserve announced its widely expected decision to lower interest rates by a quarter-point but forecast fewer than previously estimated rate cuts next year.

With the rate cut almost universally expected, the focus of the announcement was on Fed officials' latest economic projections. The latest projections suggest rates will be in a range of 3.75 to 4.0 percent by the end of 2025 compared to the range of 3.25 to 3.50 percent forecast in September.

Assuming the Fed lowers rates by a quarter-point, the projections point to just two rate cuts next year compared to the four previously forecast as Fed officials expect inflation to come in hotter than previously estimated in 2025.

Crude oil prices climbed higher on Wednesday, rebounding from recent losses after data showed a drop in crude inventories and an increase in gasoline stockpiles last week. West Texas Intermediate Crude oil futures for January closed up $0.50 or 0.71 percent at $70.58 a barrel.

read more
Asian Markets A Sea Of Red

Asian Markets A Sea Of Red

Asian stock markets are a sea of red on Tuesday, following the broadly negative cues from Wall Street overnight, amid increasing worries the U.S. is headed for a recession and concerns over the health of the world economy following the likely impact of President Donald Trump's tariffs and trade policies. Asian markets closed mostly higher on Monday.
RTTNews | 6時25分前
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian stock market is trimming its early losses in mid-market trading on Tuesday, but extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 7,900 level, with weakness is mining and technology stocks partially offset by gains in energy and financial stocks.
RTTNews | 6時57分前
Lower Open Called For Thai Stock Market

Lower Open Called For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day slide in which it had tumbled almost 40 points or 3.2 percent. The Stock Exchange of Thailand now sits just above the 1,175-point plateau and it figures to see continued consolidation on Tuesday.
RTTNews | 7時42分前
Losses May Accelerate For Indonesia Stock Market

Losses May Accelerate For Indonesia Stock Market

The Indonesia stock market on Monday ended the three-day winning streak in which it had surged more than 350 points or 5.4 percent. The Jakarta Composite Index now sits just beneath the 6,600-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.
RTTNews | 8時12分前
Japanese Market Sharply Lower, Down 2.6%

Japanese Market Sharply Lower, Down 2.6%

The Japanese stock market is trading sharply lower on Tuesday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling well below the 36,100 level, with weakness across most sectors led by index heavyweights, exporters and technology stocks.
RTTNews | 8時14分前