Renewed Selling Pressure Expected For China Stock Market

RTTNews | 931 ngày trước
Renewed Selling Pressure Expected For China Stock Market

(RTTNews) - The China stock market on Tuesday halted the four-day losing streak in which it had stumbled more than 115 points or 3.9 percent. The Shanghai Composite Index now sits just beneath the 2,980-point plateau although it's likely to head south again on Wednesday.

The global forecast for the Asian markets is mixed to lower, with a dose of volatility as bargain hunting may give the oversold bourses a lift - but the gains may evaporate as the day progresses. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The SCI finished slightly higher on Tuesday following gains from the resource stocks and weakness from the financials, properties and oil companies.

For the day, the index rose 5.65 points or 0.19 percent to finish at 2,979.79 after trading between 2,953.50 and 2,986.91. The Shenzhen Composite Index added 11.50 points or 0.61 percent to end at 1,882.00.

Among the actives, Industrial and Commercial Bank of China rose 0.23 percent, while Bank of China fell 0.33 percent, China Merchants Bank retreated 1.26 percent, China Life Insurance climbed 1.12 percent, Jiangxi Copper advanced 0.86 percent, Aluminum Corp of China (Chalco) gained 0.74 percent, Yankuang Energy tanked 2.64 percent, PetroChina slumped 1.14 percent, China Petroleum and Chemical (Sinopec) lost 0.46 percent, Huaneng Power surged 6.33 percent, China Shenhua Energy stumbled 1.16 percent, Gemdale plummeted 5.26 percent, Poly Developments tumbled 2.35 percent, China Vanke plunged 4.39 percent, China Fortune Land dropped 1.23 percent and China Construction Bank and Bank of Communications were unchanged.

The lead from Wall Street ends up weak as the major averages saw considerable volatility on Tuesday, opening lower before rallying and then handing back the gains to finish mixed.

The Dow rose 36.31 points or 0.12 percent to finish at 29,239.19, while the NASDAQ tumbled 115.91 points or 1.10 percent to end at 10,426.19 and the S&P 500 sank 23.55 points or 0.65 percent to close at 3,588.84.

The early weakness on Wall Street was due to concerns about rising interest rates and the impact of high borrowing costs on corporate earnings and economic growth. A downward revision in the global economic growth forecast by the International Monetary Fund also weighed.

The markets rebounded when treasury yields ticked lower, but stocks faltered past mid-afternoon after the Bank of England said that its market intervention will be over soon.

Oil futures fell on Tuesday, extending losses from the previous session on concerns about outlook for energy demand amid the rising possibility of a global recession. A surge in COVID-19 cases in China and fears of further monetary policy tightening also weighed. West Texas Intermediate Crude oil futures for November sank $1.78 or 2 percent at $89.35 a barrel.

read more
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market moves on Wednesday, adding to the gains in the previous four sessions, with the benchmark S&P/ASX 200 moving up to near the 8,100 level, following the broadly positive cues from Wall Street overnight, with gains financial and technology stocks partially offset by weakness in energy stocks.
RTTNews | 57 phút trước
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, amid the ongoing uncertainty about the tariff war and fears of a global economic slowdown. There are also some positive developments on the trade front, with US Commerce Secretary Howard Lutnick telling CNBC the Trump administration has reached its first trade deal.
RTTNews | 1h 24phút trước
Sensex, Nifty Likely To Open On Cautious Note

Sensex, Nifty Likely To Open On Cautious Note

Indian shares may open on a cautious note Wednesday after a slew of U.S. companies suspended or tweaked their full year guidance and Samsung Electronics flagged macroeconomic uncertainties due to trade tensions and a slowdown in global growth.
RTTNews | 1h 49phút trước
Thai Stock Market May Extend Winning Streak

Thai Stock Market May Extend Winning Streak

The Thai stock market has moved higher in three straight sessions, gathering almost 25 points or 2 percent along the way. The Stock Exchange of Thailand now sits just above the 1,170-point plateau and it may tick higher again on Wednesday.
RTTNews | 2h 24phút trước
Additional Support Expected For Indonesia Stock Market

Additional Support Expected For Indonesia Stock Market

The Indonesia stock market has moved higher in three straight sessions, advancing almost 140 points or 2.2 percent along the way. The Jakarta Composite Index now rests just beneath the 6,750-point plateau and it may extend its gains again on Wednesday.
RTTNews | 2h 54phút trước
Japanese Market Slightly Higher

Japanese Market Slightly Higher

The Japanese stock market is trading slightly higher on Wednesday, extending the gains in the previous four sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving up to near the 35,900 level, with gains in exporters and financial stocks partially offset by weakness in automakers and technology stocks.
RTTNews | 2h 59phút trước
Hong Kong Shares Tipped To Open In The Green

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had jumped more than 1,000 points or 4.5 percent. The Hang Seng Index now sits just above the 22,000-point plateau and it may add to its winnings on Wednesday.
RTTNews | 3h 9phút trước
Australian Market Modestly Higher

Australian Market Modestly Higher

Australian shares are trading modestly higher on Wednesday, adding to the gains in the previous four sessions, with the benchmark S&P/ASX 200 moving up to near the 8,100 level, following the broadly positive cues from Wall Street overnight, with gains financial and technology stocks partially offset by weakness in energy stocks.
RTTNews | 3h 22phút trước