China Stock Market Has Firm Lead For Wednesday's Trade

RTTNews | 7h 27min ago
China Stock Market Has Firm Lead For Wednesday's Trade

(RTTNews) - The China stock market has moved higher in two consecutive trading days, accelerating more than 110 points or 3.3 percent in that span. The Shanghai Composite now sits just above the 3,385-point plateau and it's expected to open higher again on Wednesday.

The global forecast for the Asian markets is upbeat thanks to optimism over the U.S. presidential election. The European markets were mixed and the U.S. markets were up and the Asian markets figure to follow the latter lead.

The SCI finished sharply higher on Tuesday following gains from the financial shares, property stocks and resource companies.

For the day, the index rallied 76.78 points or 2.32 percent to finish at the daily high of 3,386.99 after moving as low as 3,302.05. The Shenzhen Composite Index soared 63.55 points or 3.20 percent to end at 2,047.77.

Among the actives, Industrial and Commercial Bank of China collected 0.33 percent, while Bank of China gathered 0.41 percent, China Construction Bank perked 0.37 percent, China Merchants Bank increased 0.85 percent, Agricultural Bank of China rose 0.42 percent, China Life Insurance surged 6.42 percent, Jiangxi Copper and Aluminum Corp of China (Chalco) both rallied 2.15 percent, Yankuang Energy climbed 1.08 percent, PetroChina advanced 0.98 percent, China Petroleum and Chemical (Sinopec) gained 0.64 percent, Huaneng Power improved 0.83 percent, China Shenhua Energy added 0.69 percent, Gemdale soared 4.24 percent, Poly Developments spiked 2.39 percent and China Vanke accelerated 2.98 percent

The lead from Wall Street is broadly positive as the major averages opened higher on Tuesday and picked up steam as the day progressed, ending near session highs.

The Dow rallied 427.28 points or 1.02 percent to finish at 42,221.88, while the NASDAQ surged 259.19 points or 1.43 percent to close at 18,439.17 and the S&P 500 jumped 70.07 points or 1.23 percent to end at 5.782.76.

The rally on Wall Street reflected optimism the stock market and the U.S. economy in general will continue to perform well regardless of the results of the elections.

Polls show an extremely tight race between Vice President Kamala Harris and former President Donald Trump, suggesting the outcome of the presidential election may not be known by the end of the night.

In economic news, the Institute for Supply Management said service sector activity grew at an accelerated rate in October. Also, the Commerce Department noted a significant increase in the size of the U.S. trade deficit in September, as imports surged and exports slumped.

Oil futures settled higher on Tuesday, extending gains from the previous session as traders reacted positively to OPEC's decision to delay production increases, while a weaker dollar also supported prices. West Texas Intermediate Crude oil futures for December closed up $0.52 or 0.73 percent at $71.99 a barrel.

read more
Sensex, Nifty Seen Opening Up As US Election Results Trickle In

Sensex, Nifty Seen Opening Up As US Election Results Trickle In

Indian shares are likely to open a tad higher on Wednesday as new U.S. data signaled a solid economy and Republican candidate Donald Trump surged ahead of Democratic candidate Kamala Harris in the early U.S. presidential election results.
RTTNews | 5h 51min ago
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese stock market is trading sharply higher on Wednesday, adding to the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 39,000 mark, with gains across most sectors led by financial and technology stocks.
RTTNews | 6h 0min ago
Additional Support Predicted For Thai Stock Market

Additional Support Predicted For Thai Stock Market

The Thai stock market on Tuesday snapped the two-day slide in which it had eased just over 3 points or 0.2 percent. The Stock Exchange of Thailand now sits just above the 1,480-point plateau and it's tipped to open higher again on Wednesday.
RTTNews | 6h 27min ago
Indonesia Bourse May Crack Resistance At 7,500 Points

Indonesia Bourse May Crack Resistance At 7,500 Points

The Indonesia stock market on Tuesday ended the two-day slide in which it had slumped almost 100 points or 1.4 percent. The Jakarta Composite Index now rests just above the 7,490-point plateau and it may extend its gains on Wednesday.
RTTNews | 6h 57min ago
Australian Market Significantly Higher

Australian Market Significantly Higher

Australian shares are trading significantly higher on Wednesday, reversing the losses in the previous session, with the benchmark S&P/ASX 200 moving a tad above the 8,200 level, following the broadly positive cues from Wall Street overnight, with gains across all sectors led by technology and financial stocks.
RTTNews | 6h 57min ago
Higher Open Predicted For Hong Kong Stock Market

Higher Open Predicted For Hong Kong Stock Market

The Hong Kong stock market has moved higher in three straight sessions, advancing almost 700 points or 3.4 percent along the way. The Hang Seng Index now sits just above the 21,000-point plateau and it's got a positive lead again for Wednesday's trade.
RTTNews | 7h 12min ago
Taiwan Shares Tipped To Open In The Green

Taiwan Shares Tipped To Open In The Green

The Taiwan stock market has moved higher in back-to-back sessions, gathering more than 325 points or 1.5 percent along the way. The Taiwan Stock Exchange now rests just above the 23,100-point plateau and it's expected open to the upside again on Wednesday.
RTTNews | 7h 57min ago