Winning Streak May Continue For China Stock Market

RTTNews | 932 วันที่ผ่านมา

(RTTNews) - The China stock market has tracked higher in back-to-back sessions, gathering more than 80 points or 2.6 percent along the way. The Shanghai Composite Index now sits just beneath the 3,350-point plateau and it may stretch its winning streak on Monday.

The global forecast for the oversold Asian markets is broadly positive, with the oil, technology and financial sectors expected to lead the way higher. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The SCI finished modestly higher on Friday following gains from the insurance companies, weakness from the properties and financials and a mixed performance from the energy companies.

For the day, the index advanced 29.60 points or 0.89 percent to finish at 3,349.75 after trading between 3,322.95 and 3,356.71. The Shenzhen Composite Index climbed 28.66 points or 1.32 percent to end at 2,192.67.

Among the actives, Industrial and Commercial Bank of China shed 0.63 percent, while China Construction Bank lost 0.50 percent, China Merchants Bank rose 0.15 percent, Bank of Communications fell 0.40 percent, China Life Insurance climbed 1.34 percent, Ping An Insurance improved 1.10 percent, Jiangxi Copper retreated 1.63 percent, Aluminum Corp of China (Chalco) slid 0.42 percent, Yankuang Energy declined 1.50 percent, PetroChina skidded 1.11 percent, China Petroleum and Chemical (Sinopec) perked 0.25 percent, Huaneng Power jumped 1.79 percent, China Shenhua Energy sank 0.51 percent, Gemdale plunged 2.67 percent, Poly Developments tanked 2.05 percent, China Vanke slumped 1.24 percent, Beijing Capital Development stumbled 1.02 percent and Bank of China was unchanged.

The lead from Wall Street is upbeat as the major averages opened sharply higher on Friday and remained that way throughout the trading day.

The Dow surged 823.28 points or 2.68 percent to finish at 31,500.68, while the NASDAQ rallied 375.42 points or 3.34 percent to end at 11,607.62 and the S&P 500 jumped 116.01 points or 3.06 percent to close at 3,911.74.

For the holiday-shortened week, the NASDAQ soared by 7.5 percent, while the S&P 500 and the Dow spiked by 6.4 percent and 5.4 percent, respectively.

Traders continue to express concerns about inflation, interest rates and a potential recession but may feel to sell-off earlier this month was overdone.

On the U.S. economic front, the Commerce Department unexpectedly reported a significant rebound in new home sales in May. Also, the University of Michigan said consumer sentiment in the U.S. tumbled more than expected in June.

Crude oil prices rose sharply on Friday on optimism for continued high demand for energy and tight supply. West Texas Intermediate Crude oil futures for August ended higher by $3.35 or 3.2 percent at $107.62 a barrel. WTI futures shed 1.8 percent in the week.

Closer to home, China will on Monday release May figures for industrial profits later today; in April, profits were down 8.6 percent on month and up 3.5 percent on year.

Indian Shares Likely To Open On Positive Note

Higher GIFT Nifty futures point to a positive start for Indian shares on Tuesday. Investors are also likely to react positively to data showing a drop in consumer price inflation in the month of December. Some bargain hunting is likely as well after four successive days of declines.

RTTNews | 5 ชม. 3 นาทีที่ผ่านมา

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Tuesday, after snapping the three-session losing streak, with the benchmark S&P/ASX 200 index moving above the 8,200.00 level, with gains in mining and energy stocks partially offset by weakness in financial and technology stocks.

RTTNews | 5 ชม. 13 นาทีที่ผ่านมา

Thai Shares Poised To Open To The Upside On Tuesday

The Thai stock market moved lower again on Monday, one session after halting the two-day slide in which it had stumbled almost 30 points or 2.2 percent. The Stock Exchange of Thailand now sits just beneath the 1,355-point plateau and it may find renewed support on Tuesday. The global forecast for the Asian markets is murky, with support from the oil companies likely offset by weakness from the technology shares. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference. The SET finished sharply lower on Monday following losses from the food, consumer, property, service and technology sectors, while the financials offered support. For the day, the index dropped 13.65 points or 1.00 percent to finish at 1,354.34 after trading between 1,349.02 and 1,362.14. Volume was 9.462 billion shares worth 43.022 billion baht. There were 342 decliners and 146 gainers, with 178 stocks finishing unchanged. Among the actives, Advanced Info fell 0.35 percent, while Thailand Airport plummeted 3.00 percent, Asset World plunged 3.66 percent, Banpu surged 4.81 percent, Bangkok Bank jumped 1.64 percent, Bangkok Dusit Medical increased 0.84 percent, Bangkok Expressway lost 2.14 percent, B. Grimm declined 1.16 percent, BTS Group gained 1.69 percent, CP All Public tumbled 1.80 percent, Charoen Pokphand Foods retreated 1.36 percent, Energy Absolute cratered 10 percent, Gulf shed 0.85 percent, Kasikornbank strengthened 1.57 percent, Krung Thai Bank collected 1.38 percent, Krung Thai Card dropped 0.99 percent, PTT Exploration and Production spiked 2.01 percent, PTT Global Chemical sank 0.87 percent, SCG Packaging climbed 1.13 percent, Siam Commercial Bank improved 1.68 percent, Siam Concrete stumbled 1.62 percent, Thai Oil accelerated 2.00 percent, True Corporation slumped 1.79 percent, TTB Bank rallied 2.22 percent and PTT Oil & Retail and PTT were unchanged.

RTTNews | 6 ชม. 5 นาทีที่ผ่านมา

Japanese Market Sharply Lower

The Japanese stock market is modestly lower in post-holiday trading on Tuesday, extending the loses in the previous three sessions, with the Nikkei 225 falling well below the 38,700 level, following the mixed cues from Wall Street overnight, with weakness across most sectors led by index heavyweights, financial and technology stocks.

RTTNews | 6 ชม. 31 นาทีที่ผ่านมา

Rebound Anticipated For Indonesia Stock Market

The Indonesia stock market headed south again on Monday, one session after ending the two-day slide in which it had slumped almost 20 points or 0.3 percent. The Jakarta Composite Index now sits just above the 7,015-point plateau although it's expected to open in the green on Tuesday. The global forecast for the Asian markets is murky, with support from the oil companies likely offset by weakness from the technology shares. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference. The JCI finished sharply lower on Monday following losses from the cement and financial sectors, while the resource stocks came in mixed. For the day, the index slumped 71.99 points or 1.02 percent to finish at 7,016.88 after trading between 6,986.59 and 7,089.57. Among the actives, Bank CIMB Niaga skidded 1.16 percent, while Bank Mandiri retreated 1.34 percent, Bank Danamon Indonesia fell 0.40 percent, Bank Negara Indonesia surrendered 3.22 percent, Bank Central Asia shed 0.51 percent, Bank Rakyat Indonesia plunged 3.99 percent, Bank Maybank Indonesia dropped 0.98 percent, Indosat Ooredoo Hutchison rose 0.42 percent, Indocement tanked 3.17 percent, Semen Indonesia stumbled 2.01 percent, United Tractors climbed 1.20 percent, Astra International declined 3.06 percent, Energi Mega Persada rallied 2.48 percent, Astra Agro Lestari strengthened 1.69 percent, Aneka Tambang advanced 1.02 percent, Jasa Marga tumbled 2.00 percent, Timah surged 3.88 percent, Bumi Resources plummeted 4.10 percent and Indofood Sukses Makmur and Vale Indonesia were unchanged.

RTTNews | 6 ชม. 35 นาทีที่ผ่านมา

Hang Seng Tipped To Halt Its Slide On Tuesday

The Hong Kong stock market has finished lower in six straight sessions, retreating almost 900 points or 4.7 percent along the way. The Hang Seng Index now sits just above the 18,870-point plateau although it's expected to find some traction on Tuesday. The global forecast for the Asian markets is murky, with support from the oil companies likely offset by weakness from the technology shares. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference. The Hang Seng finished sharply lower on Monday following losses from the financial shares, property stocks and technology companies. For the day, the index retreated 190.15 points or 1.00 percent to finish at 18,874.14 after trading between 18,671.49 and 18,929.12. Among the actives, Alibaba Group tumbled 1.88 percent, while Alibaba Health Info surged 2.85 percent, ANTA Sports was down 0.13 percent, China Life Insurance and Techtronic Industries both lost 0.76 percent, China Mengniu Dairy shed 0.92 percent, China Resources Land spiked 2.09 percent, CITIC added 0.24 percent, CNOOC soared 2.23 percent, CSPC Pharmaceutical slid 0.46 percent, Galaxy Entertainment surrendered 2.29 percent, Haier Smart Home plummeted 6.83 percent, Hang Lung Properties declined 1.83 percent, Henderson Land slumped 1.79 percent, Hong Kong & China Gas skidded 1.50 percent, Industrial and Commercial Bank of China dipped 0.41 percent, JD.com dropped 1.45 percent, Lenovo fell 0.75 percent, Li Auto tanked 3.01 percent, Li Ning sank 1.08 percent, Meituan retreated 1.93 percent, New World Development plunged 5.18 percent, Nongfu Spring rallied 2.14 percent, Xiaomi Corporation stumbled 2.24 percent and WuXi Biologics weakened 1.74 percent.

RTTNews | 6 ชม. 50 นาทีที่ผ่านมา

Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Tuesday, snapping the three-session losing streak, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,200 level, with gains in iron ore miners and energy stocks partially offset by weakness in gold miners, financial and technology stocks.

RTTNews | 7 ชม. 2 นาทีที่ผ่านมา

China Stock Market Due For Support On Tuesday

The China stock market has moved lower in three straight sessions, slumping almost 70 points or 2.3 percent in that span. The Shanghai Composite Index now sits just above the 3,160-point plateau although it's expected to open to the upside on Tuesday. The global forecast for the Asian markets is murky, with support from the oil companies likely offset by weakness from the technology shares. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference. The SCI finished slightly lower on Monday following losses from the financials, gains from the properties and mixed performances from the energy and resource stocks. For the day, the index slipped 7.77 points or 0.25 percent to finish at 3,160.75 after trading between 3,140.98 and 3,172.70. The Shenzhen Composite Index rose 1.18 points or 0.06 percent to end at 1,838.46. Among the actives, Industrial and Commercial Bank of China skidded 1.05 percent, while Bank of China tumbled 1.83 percent, China Construction Bank surrendered 1.89 percent, China Merchants Bank collected 0.23 percent, Agricultural Bank of China retreated 1.37 percent, China Life Insurance shed 0.61 percent, Jiangxi Copper jumped 1.91 percent, Aluminum Corp of China (Chalco) rallied 2.06 percent, PetroChina improved 1.37 percent, China Petroleum and Chemical (Sinopec) declined 1.27 percent, Huaneng Power added 0.64 percent, China Shenhua Energy sank 0.74 percent, Gemdale soared 2.36 percent, Poly Developments spiked 1.89 percent, China Vanke climbed 1.05 percent and Yankuang Energy was unchanged.

RTTNews | 7 ชม. 5 นาทีที่ผ่านมา

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