TSX Ends At 4-month Low

RTTNews | 7h 20min ago

(RTTNews) - Canadian stocks closed sharply lower on Monday and the benchmark S&P/TSX Composite Index tumbled to a four-month low, as worries about global economic growth amid U.S. President Donald Trump's tariff moves weighed on the market.

In a Fox News interview on Sunday, Trump declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.

"There is a period of transition, because what we're doing is very big. We're bringing wealth back to America," Trump told the "Sunday Morning Futures" program.

Investors awaited the Bank of Canada's interest rate decision, due on Wednesday. The Canadian central bank is widely expected to lower interest rate by 25 basis points, amid trade uncertainty with the U.S. If the rate cut happens, then it will be the seventh concecutive reduction by the central bank.

The S&P/TSX Composite Index ended down 378.05 points or 1.53% at 24,380.71. The index tumbled to a low of 24,249.96 in the final hour.

Technology stocks were the major losers. The Information Technology Capped Index closed down 3.64%. BlackBerry, Shopify, Celestica, Computer Modelling Group, Coveo Solutions, Docebo, Lightspeed Commerce, Descartes Systems Group and Constellation Software ended lower by 3 to 7%.

The Materials Capped Index fell 2.6%. Methanex Corp shares tanked 12.5%. The company announced that its 1.8 million tonne methanol G3 plant in Geismar, Louisiana was impacted by an unplanned outage in late February.

Algoma Steel Group plunged 13.4%. Capstone Mining dropped nearly 11%. Aya Gold & Silver, Seabridge Gold, Ivanhoe Mines, Lundin Gold, Iamgold Corp, First Majestic Silver, Teck Resources, Equinox Gold, First Quantum Minerals and Torex Gold Resources lost 5 to 10%.

Real estate, industrials, financials and healthcare stocks also ended mostly lower. Consumer discretionary stocks eased as well, while communications shares found good support.

Communications stocks Telus Corp and BCE Inc. gained 2.1% each. Quebecor Inc closed 1.1% up.

Franco-Nevada Corp gained about 0.7%. The gold-focused royalty and streaming company, reported Monday that it turned around to a net income of $175.4 million in its fourth quarter from prior year's net loss of $982.5 million.

Australian Market Sharply Lower

The Australian stock market is trading sharply lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 7,900 level, with weakness across most sectors led by mining and technology stocks.

RTTNews | 4h 6min ago

No Help Yet For China Stock Market

The China stock market has moved lower in two straight sessions, retreating almost 15 points or 0.5 percent in that span. The SCI now sits just above the 3,365-point plateau although it's looking at another soft start again 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 | 4h 9min ago

More Pain Predicted For Taiwan Stock Market

The Taiwan stock market has finished lower in three straight sessions, shedding almost 420 points or 1.8 percent in that span. The Taiwan Stock Exchange now sits just above the 22,450-point plateau and it figures to open under water again 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. The TSE finished modestly lower again on Monday following mixed performances from the financial shares and technology stocks. For the day, the index slumped 116.92 points or 0.52 percent to finish at 22,459.15 after trading between 22,407.57 and 22,641.25. Among the actives, Cathay Financial and CTBC Financial both perked 0.16 percent, while Mega Financial collected 0.63 percent, Fubon Financial fell 0.22 percent, E Sun Financial improved 0.70 percent, Taiwan Semiconductor Manufacturing Company sank 0.70 percent, United Microelectronics Corporation rallied 2.04 percent, Largan Precision retreated 1.67 percent, Catcher Technology gained 0.73 percent, MediaTek plunged 4.78 percent, Novatek Microelectronics shed 0.37 percent, Formosa Plastics advanced 1.03 percent, Nan Ya Plastics climbed 1.05 percent, Asia Cement was up 0.11 percent and Hon Hai Precision was unchanged.

RTTNews | 4h 39min ago

Japan Household Spending Adds 0.8% On Year In January

The average of household spending in Japan was up 0.8 percent on year in January, the Ministry of Internal Affairs and Communications said on Tuesday - coming in at 305,521 yen.

RTTNews | 4h 54min ago

Japan GDP Adds 0.6% On Quarter In Q4

Japan's gross domestic product expanded a seasonally adjusted 0.6 percent on quarter in the fourth quarter of 2024, the Cabinet Office said in Tuesday's second preliminary estimate.

RTTNews | 4h 59min ago

Singapore Stock Market Poised To Open Under Water On Tuesday

The Singapore stock market has tracked lower in back-to-back sessions, sinking almost 20 points or 0.5 percent along the way. The Straits Time Index now sits just beneath the 3,900-point plateau and the losses may accelerate 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. The STI finished modestly lower on Monday following losses among the financial shares, property stocks and industrial issues. For the day, the index fell 15.41 points or 0.39 percent to finish at the daily low of 3,899.07 after peaking at 3,922.66. Among the actives, CapitaLand Investment sank 0.77 percent, while City Developments declined 1.19 percent, Comfort DelGro shed 0.68 percent, DBS Group eased 0.28 percent, Frasers Logistics & Commercial Trust spiked 1.79 percent, Genting Singapore rallied 1.41 percent, Hongkong Land stumbled 1.79 percent, Keppel DC REIT added 0.49 percent, Keppel Ltd slid 0.44 percent, Mapletree Industrial Trust advanced 1.00 percent, Mapletree Logistics Trust skidded 0.80 percent, Oversea-Chinese Banking Corporation lost 0.64 percent, Seatrium Limited jumped 1.43 percent, SembCorp Industries retreated 1.27 percent, Singapore Technologies Engineering slumped 1.14 percent, SingTel tumbled 1.75 percent, UOL Group climbed 1.38 percent, Venture Corporation rose 0.24 percent, Wilmar International fell 0.61 percent, Yangzijiang Financial dropped 0.78 percent, Yangzijiang Shipbuilding dipped 0.42 percent and Thai Beverage, Mapletree Pan Asia Commercial Trust, DFI Retail, Frasers Centrepoint Trust, CapitaLand Integrated Commercial Trust, Emperador and SATS were unchanged.

RTTNews | 5h 9min ago

Losing Streak May Continue For Malaysia Stock Market

The Malaysia stock market has tracked lower in three straight sessions, slumping almost 30 points or 2 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,535-point plateau and it may take further damage again 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 | 5h 39min ago

Japan Stock Market Tipped To Open In The Red

The Japanese stock market rebounded on Monday, one session after snapping the two-day winning streak in which it had rallied more than 370 points or 1 percent. The Nikkei 225 now rests just shy of the 37,030-point plateau although it figures to head south again 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. The Nikkei finished modestly higher on Monday following gains from the automobile producers, weakness from the technology stocks and a mixed picture from the financial shares. For the day, the index added 141.10 points or 0.38 percent to finish at 37,028.27 after trading between 36,705.02 and 37,113.48. Among the actives, Nissan Motor retreated 1.46 percent, while Mazda Motor added 0.68 percent, Toyota Motor advanced 0.93 percent, Honda Motor accelerated 0.91 percent, Softbank Group strengthened 1.43 percent, Mitsubishi UFJ Financial eased 0.13 percent, Mizuho Financial declined 1.53 percent, Sumitomo Mitsui Financial skidded 1.17 percent, Mitsubishi Electric tumbled 1.60 percent, Sony Group tanked 3.11 percent, Panasonic Holdings slumped 1.57 percent and Hitachi surrendered 2.81 percent.

RTTNews | 5h 54min ago

EURUSD	1.0848	GBPUSD	1.28795	AUDUSD	0.62668
USDJPY	146.651	USDCAD	1.44371	USDCHF	0.87795

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TSX Ends At 4-month Low