Asian Shares End On Muted Note Amid Interest Rate Uncertainty
(RTTNews) - Asian stocks ended Wednesday's session on a muted note as China stock rally paused, and the Israel-Hamas ceasefire deal faced uncertainty.
The dollar regained momentum after Minneapolis Fed President Neel Kashkari cautioned that interest rates are likely to remain on hold for an extended period.
The dollar's strength weighed on bullion while oil prices fell over 1 percent in Asia trading after data from the American Petroleum Institute pointed to rising stockpiles.
Chinese markets fell on profit taking after rallying to over six-month highs on optimism over improving economic conditions and hopes regarding potential stimulus measures to revive the country's struggling property market.
The benchmark Shanghai Composite index dropped 0.61 percent to 3,128.48 ahead of April trade figures due on Thursday.
Hong Kong's Hang Seng index ended down 0.90 percent at 18,313.86, falling from an eight-month high earlier in the day.
Japanese markets led regional losses after climbing sharply to hit a three-week high in the previous session.
The Nikkei average tumbled 1.63 percent to 38,202.37 while the broader Topix index settled 1.45 percent lower at 2,706.43.
Mitsubishi Heavy Industries plummeted 7.3 percent and Ricoh lost 6.2 percent while Yokogawa Electric surged 8.7 percent and Nippon Yusen K.K added 4.1 percent. Toyota Motor dropped 0.6 percent after projecting a drop in fiscal-year profit.
Seoul stocks eked out modest gains, with the Kospi average closing up 0.39 percent at 2,745.05.
Australian markets ended marginally higher, extending gains for a fifth consecutive session as investors assessed the central bank's stance on easing monetary policy.
The benchmark S&P ASX 200 inched up 0.14 percent to 7,804.50 while the broader All Ordinaries index closed 0.14 percent higher at 8,076.70.
Lithium stocks soared, with Vulcan Energy rallying more than 10 percent and Liontown Resources adding 3.9 percent.
Across the Tasman, New Zealand's benchmark S&P NZX-50 index slipped 0.15 percent to 11,782.89.
Overnight, U.S. stocks gave up early gains to end on a flat note as investors awaited more clarity on when the Federal Reserve may start cutting interest rates.
The Dow finished marginally higher to extend gains for the fifth consecutive session and reach a one-month high.
The S&P 500 inched up 0.1 percent to close higher for a fourth straight session while the tech-heavy Nasdaq Composite slipped 0.1 percent.
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Higher Open Anticipated For Thai Stock Market
The Thai stock market on Monday ended the two-day losing streak in which it had slumped almost 10 points or 0.8 percent. The Stock Exchange of Thailand now sits just above the 1,450-point plateau and it's got a positive lead again for Tuesday's trade.
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.
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5h 28min ago
Indonesia Stock Market Due For Support On Tuesday
The Indonesia stock market has finished lower in four straight sessions, shedding almost 190 points or 2.5 percent along the way. The Jakarta Composite Index now rests just beneath the 7,135-point plateau although it may stop the bleeding 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 JCI finished modestly lower on Monday following losses from the financial shares and mixed performances from the cement and resource companies.
For the day, the index shed 26.98 points or 0.38 percent to finish at 7,134.28 after trading between 7,118.87 and 7,174.75.
Among the actives, Bank CIMB Niaga sank 0.84 percent, while Bank Mandiri fell 0.39 percent, Bank Danamon Indonesia shed 0.40 percent, Bank Negara Indonesia declined 0.81 percent, Bank Central Asia tumbled 1.72 percent, Bank Rakyat Indonesia tanked 2.68 percent, Indosat Ooredoo Hutchison dropped 0.88 percent, Indocement lost 0.72 percent, Semen Indonesia rose 0.28 percent, United Tractors surrendered 2.64 percent, Astra International dipped 0.20 percent, Energi Mega Persada rallied 3.15 percent, Astra Agro Lestari stumbled 2.70 percent, Aneka Tambang slid 0.36 percent, Jasa Marga slumped 0.44 percent, Vale Indonesia plunged 3.40 percent, Timah retreated 0.76 percent, Bumi Resources surged 2.68 percent and Bank Maybank Indonesia and Indofood Sukses Makmur were unchanged.
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5h 58min ago
Australian Market Significantly Higher
Adding to the gains in the previous three sessions, the Australian stock market is trading significantly higher on Tuesday, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,300 level, with gains across most sectors led by energy and mining stocks amid upbeat commodity prices.
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6h 12min ago
Hong Kong Stock Market May Extend Monday's Gains
The Hong Kong stock market on Monday snapped the six-day losing streak in which it had plummeted more than 1,610 points or 7.6 percent. The Hang Seng Index now sits just above the 19,575-point plateau and it's expected to open to the upside 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 Hang Seng finished modestly higher on Monday following gains from the financial shares and entertainment stocks, while the property and technology companies were mixed.
For the day, the index advanced 150.27 points or 0.77 percent to finish at 19,576.61 after trading between 19,470.43 and 19,781.08.
Among the actives, Alibaba Group slumped 1.03 percent, while Alibaba Health Info slid 0.26 percent, ANTA Sports fell 0.31 percent, China Life Insurance collected 1.30 percent, China Mengniu Dairy dropped 0.83 percent, China Resources Land advanced 1.06 percent, CITIC rallied 1.37 percent, CNOOC climbed 1.31 percent, CSPC Pharmaceutical and Techtronic Industries both dipped 0.19 percent, Galaxy Entertainment added 0.31 percent, Haier Smart Home plummeted 3.04 percent, Hang Lung Properties sank 0.47 percent, Henderson Land retreated 1.20 percent, Hong Kong & China Gas skidded 1.00 percent, Industrial and Commercial Bank of China soared 3.04 percent, JD.com surged 3.62 percent, Lenovo plunged 2.07 percent, Li Auto improved 0.74 percent, Li Ning shed 0.37 percent, Meituan lost 0.35 percent, New World Development tumbled 1.52 percent, Nongfu Spring jumped 1.94 percent, Xiaomi Corporation spiked 2.86 percent and WuXi Biologics declined 1.07 percent.
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6h 13min ago
China Bourse May Halt Losing Streak On Tuesday
The China stock market has finished lower in three straight sessions, slumping almost 120 points or 3.7 percent along the way. The Shanghai Composite now sits just beneath the 3,325-point plateau although it's due for support 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 SCI finished slightly lower on Monday as losses from the resource stocks were mitigated by support from the financial shares and properties.
For the day, the index slipped 6.88 points or 0.,21 percent to finish at 3,323.85 after trading between 3,309.01 and 3,386.90. The Shenzhen Composite Index stumbled 43.83 points or 2.18 percent to end at 1,966.78.
Among the actives, Industrial and Commercial Bank of China accelerated 2.31 percent, while Bank of China spiked 2.88 percent, China Construction Bank climbed 1.01 percent, China Merchants Bank rose 0.21 percent, Agricultural Bank of China collected 2.13 percent, China Life Insurance was up 0.09 percent, Jiangxi Copper fell 0.23 percent, Aluminum Corp of China (Chalco) tumbled 2.26 percent, Yankuang Energy improved 0.58 percent, PetroChina and China Vanke both strengthened 1.49 percent, China Petroleum and Chemical (Sinopec) gained 0.63 percent, Huaneng Power rallied 1.40 percent, China Shenhua Energy soared 3.21 percent, Gemdale jumped 1.90 percent and Poly Developments added 0.69 percent.
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6h 28min ago
Taiwan Shares May Bounce Higher Again On Tuesday
The Taiwan stock market turned lower again on Monday, one session after ending the four-day losing streak in which it had tumbled almost 850 points or 3.6 percent. The Taiwan Stock Exchange now rests just beneath the 22,550-point plateau and it may see additional support on Tuesday.
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6h 58min ago
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.
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7h 28min 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.
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7h 58min ago
