Asian Shares Mixed After China Rate Cut
(RTTNews) - Asian stocks turned in a mixed performance on Monday as China's central bank once again cut interest rates and the country's banks slashed borrowing costs to combat the country's stubborn economic slump. The dollar fell as global finance chiefs gather in Washington this week amid intense uncertainty over wars in the Middle East and Europe, and uncertainty around the U.S. presidential election. Gold reached another record high while oil prices recovered some ground, after having fallen nearly 8 percent last week on China demand concerns. Israel opened up a fresh military assault on Hezbollah's strongholds in Lebanon, a day after a drone exploded next to Prime Minister Benjamin Netanyahu's private home. Israel has already vowed to retaliate against Iran for a missile attack at the start of October. China's Shanghai Composite index ended 0.20 percent higher at 3,268.11 after a volatile session as the People's Bank of China cut the one- and five-year LPRs by 25 basis points to 3.1 percent and 3.6 percent, respectively. Hong Kong's Hang Seng index fell 1.57 percent to 20,478.46 as tech stocks declined and investors awaited earnings from prominent companies, including Ping An and HKEX. Japanese markets ended little changed on fading BoJ rate hike bets and ahead of the general election at the end of this week. The Nikkei average finished marginally lower at 38,954.60 while the broader Topix index settled 0.34 percent lower at 2,679.91. Seoul stocks eked out modest gains to snap a three-day losing streak. The Kospi average inched up 0.43 percent to 2,604.92, with Hyundai Motor, Korean Air and Jeju Air climbing 1-3 percent. Australian markets rose notably as higher commodity prices boosted mining and energy stocks. The benchmark S&P/ASX 200 jumped 0.74 percent to 8,344.40 while the broader All Ordinaries index closed 0.62 percent higher at 8,604.10. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.77 percent to 12,923.22, nearing the 13,000 points mark for the first time since 2021. U.S. stocks advanced on Friday as economic optimism prevailed, and markets gunned for a Donald Trump victory in the upcoming presidential elections. The Nasdaq gained 0.6 percent after streaming giant Netflix topped Wall Street estimates for subscriber additions. The Dow finished marginally higher and the S&P 500 added 0.4 percent to reach new record closing highs and seal six straight week of gains despite weak housing data.
Asian Shares Mixed As China Briefing Disappoints
(RTTNews) - Asian stocks ended mixed on Thursday, with Chinese and Hong Kong markets giving up early gains to end sharply lower after China announced supportive measures to prop up the country's troubled property sector, albeit on a small scale. The measures included expanding a "white list" of housing projects eligible for financing and increasing bank lending for such developments to 4 trillion yuan. The briefing from China's housing minister lacked substantial new measures, leaving investors skeptical regarding further economic growth ahead of third-quarter GDP data due on Friday. Gold ticked higher to hover near record levels in Asian trading even as speculation about a second Trump presidency and its potential inflationary effects contributed to a stronger dollar. The euro touched an 11-week low ahead of an expected rate cut by the European Central Bank. Oil slipped in choppy trading, extending declines for a fifth day on China demand concerns and worries over a global glut. China's Shanghai Composite index fell 1.05 percent to 3,169.38 as the housing policy briefing failed to impress markets. Hong Kong's Hang Seng dropped 1.02 percent to 20,079.10 as property developers slumped on investor disappointment. Japanese markets fell notably as data showed exports dropped for the first time in 10 months in September. The Nikkei average dipped 0.69 percent to 38,911.19 while the broader Topix index settled 0.11 percent lower at 2,687.83. Tech stocks extended their losses from Wednesday, with Tokyo Electron tumbling 3.2 percent. Seoul stocks ended little changed after a choppy session. The Kospi average finished marginally lower at 2,609.30 as foreign investors extended their selling streak to a second session. Top automaker Hyundai Motor slumped 4.7 percent and its smaller affiliate Kia Corp shed 2.7 percent. Australian markets rallied to record levels after the unemployment rate came in at 4.1 percent in September, slightly below the market consensus of 4.2 percent. The benchmark S&P/ASX 200 climbed 0.86 percent to 8,355.90 while the broader All Ordinaries index closed up 0.79 percent at 8,624.10. Financials topped the gainers list, with the big four banks rising between 1.3 percent and 2.6 percent. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index jumped 1.01 percent to 12,768.54. U.S. stocks closed higher overnight after upbeat earnings from Morgan Stanley and United Airlines. The Dow climbed 0.8 percent to a new record closing high, while the S&P 500 added half a percent and the tech-heavy Nasdaq Composite edged up 0.3 percent.
Asian Shares Mixed As China Concerns Persist
(RTTNews) - Asian stocks saw muted gains on Thursday, though Chinese and Hong Kong markets tumbled on worries of a possible trade war between China and the United States in the wake of Donald Trump's return to the White House. Longer-dated U.S. bond yields rose alongside the dollar while gold hit an eight-week low after some Federal Reserve officials shifted their attention back to inflation risks. It is feared that Trump's plan for lower taxes and higher tariffs will stoke inflation, result in larger U.S. deficits and reduce the Fed's scope to ease interest rates during 2025 and beyond. Oil prices were lower in Asian trading amid concerns about rising global output and slow demand growth. China's Shanghai Composite index fell 1.73 percent 30 3,379.84 as growth worries persisted despite the recent stimulus package. Hong Kong's Hang Seng index dipped 1.96 percent to 19,435.81 despite Beijing unveiling tax incentives on home and land transactions on Wednesday to shore up an ailing economy. Tech giant Tencent edged down marginally after Q3 revenue missed expectations. Peer JD.com plunged 4.7 percent and Alibaba gave up 2.9 percent. Japanese markets ended lower in choppy trade despite repeated verbal warnings by government officials about the abrupt decline of the yen, which hit a four-month low against the dollar. The Nikkei average fell 0.48 percent to 38,535.70 while the broader Topix index settled 0.27 percent lower at 2,701.22. Seoul stocks fluctuated before finishing on a flat note. The Kospi average finished marginally higher at 2,418.86. Shares of Samsung Electronics fell 1.4 percent to extend losses after falling to an over four-year low of under 51000 won ($36.24) Wednesday amid worries about the impact of U.S. tariffs under a new Donald Trump administration. Australian markets eked out modest gains after data showed the unemployment rate held steady at 4.1 percent last month but hiring gains slowed. The benchmark S&P/ASX 200 rose 0.37 percent to 8,224, led by banks as RBA Governor indicated that rate cuts are off the table until inflation aligns with target. Technology stocks also advanced, with Xero climbing 5.9 percent on reporting robust quarterly results. The broader All Ordinaries index closed 0.34 percent higher at 8,479.90. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index closed up 0.15 percent at 12,692.94. U.S. stocks fluctuated before ending mixed overnight as longer-dated Treasury yields rose amid expectations that the Fed may not reduce rates as much as previously thought. Data showed the consumer price index rose 0.2 percent for the fourth straight month in October, matching expectations. The annual rate of consumer price growth accelerated to 2.6 percent from 2.4 percent in September, while the core consumer price inflation rate stood at a three-month high of 3.3 percent, unchanged from September. The tech-heavy Nasdaq Composite shed 0.3 percent while the S&P 500 and the Dow crept up marginally.
Asian Shares Mixed As Investors Await China Policy Briefing
(RTTNews) - Asian stocks ended mixed on Friday as investors waited to see whether Beijing will deliver more fiscal stimulus at a press conference by the finance ministry on Saturday. The dollar weakened and gold prices surged as fresh signs of U.S. labor market weakness spurred hopes for more rate cuts. Oil eased after a rally in the previous session but was on course for a second straight weekly gain on concerns about crude oil supply disruptions stemming from tensions in West Asia. China's Shanghai Composite index fell 2.55 percent to 3,217.74 as investors awaited the details of the upcoming fiscal stimulus plans this weekend. Hong Kong markets remained closed on account of the Chung Yeung festival. Japanese markets advanced on hopes for solid earning after Uniqlo clothing chain Fast Retailing reported a stronger-than-expected net profit forecast for this business year the previous day. The Nikkei average rose 0.57 percent to 39,605.80, led by retailers and financials. The broader Topix index settled 0.24 percent lower at 2,706.20. Seoul stocks ended little changed, with the Kospi average closing marginally lower at 2,596.91, giving up early gains after the Bank of Korea cut interest rates for the first time in four years as anticipated and flagged there was room to reduce further. Australian markets ended slightly lower, with miners and banks underperforming. Gold miners surged supported by higher bullion prices. The benchmark S&P/ASX 200 slipped 0.10 percent to 8,214.50 while the broader All Ordinaries index finished marginally lower at 8,491.50. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index climbed 0.71 percent to 12,845.64 as a survey showed activity in the country's manufacturing sector edged up last month but remained firmly in contraction for the 19th consecutive month. U.S. stocks ended marginally lower overnight while longer-dated U.S. Treasury yields edged up in choppy trading, as data showed slightly stickier inflation for September and a big jump in the initial jobless claims to its highest level in a year last week. Data showed the annual rate of consumer price growth slowed to 2.4 percent in September from 2.5 percent in August while economists had expected the pace of price growth to slow to 2.3 percent. The annual rate of core consumer price growth accelerated to 3.3 percent from 3.2 percent in August. Investors also digested comments from Fed officials and looked forward to earnings from big banks. The Dow slipped 0.1 percent and the S&P 500 dipped 0.2 percent after hitting record closing highs the previous day. The tech-heavy Nasdaq Composite ended flat with a negative bias.
Asian Shares Mixed As Investors Await US Jobs Data
(RTTNews) - Asian stocks ended mixed on Friday, with Chinese and Hong Kong markets outperforming ahead of an annual economic policy meeting scheduled for next week. A cautious undertone prevailed ahead of a U.S. jobs report due later in the day that might shift expectations for Federal Reserve rate cuts. The dollar weakened, helping gold prices push higher in Asian trade. Oil drifted lower despite OPEC+'s decision to postpone the rollback of its oil production cuts. China's Shanghai Composite index jumped 1.05 percent to 3,404.08 ahead of a key economic policy meeting next week, where China's top leaders may discuss economic targets and additional stimulus plans for 2025. Hong Kong's Hang Seng index climbed 1.56 percent to 19,865.85. Japanese markets ended lower after data showed Japan's local wages grew at the fastest pace in 32 years in October, sparking hopes for BOJ rate hike. The Nikkei average dropped 0.77 percent to 39,091.17 while the broader Topix index settled 0.55 percent lower at 2,727.22. Seoul stocks ended notably lower as the leader of President Yoon Suk Yeol's own party backed impeachment, on which the National Assembly is set to vote on Saturday. The Kospi average dipped 0.56 percent to 2,428.16, logging a second weekly decline. Chipmaker Samsung Electronics rose 0.7 percent and peer SK Hynix tumbled 3.4 percent while battery maker LG Energy Solution rallied 2.2 percent. Australian markets declined, with tech, telcos and energy stocks leading losses. The benchmark S&P/ASX 200 fell 0.64 percent to 8,420.90 as investors factored in a weaker economic outlook. The broader All Ordinaries index closed down 0.63 percent at 8,689.30. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index dropped 0.68 percent to 12,809.59. U.S. stocks fluctuated before ending lower overnight. The S&P 500 and the tech-heavy Nasdaq Composite both slid around 0.2 percent after hitting new record highs earlier in the day. The Dow dipped 0.6 percent as United Health Group shares tumbled following the fatal shooting of CEO Brian Thompson outside a Manhattan hotel.
Asian Shares Mixed As Tariff Concerns Persist
(RTTNews) - Asian stocks turned in a mixed performance on Wednesday as official data showed China's industrial profits fell again in October but less sharply than in September. Regional gains were limited by tariff worries as U.S. President-elect Donald Trump picked another China sceptic, Jamieson Greer, to serve as the United States Trade Representative (USTR) and appointed Kevin A Hassett as the director of the White House National Economic Council, key figures in implanting the new administration's economic agenda. Jamieson played a key role during Trump's first term in imposing tariffs on China and others to combat unfair trade practices and replacing the failed NAFTA deal with USMCA. Hassett played a crucial role in helping design and pass the Tax Cuts and Jobs Act of 2017. The dollar was muted in Asian trading amid anxiety about Trump's plans and ahead of the release of U.S. October Core Personal Consumption Expenditures (Core PCE) - Price Index later in the day. Oil and gold prices traded higher as investors assessed the potential impact of a ceasefire deal between Israel and Hezbollah. China's Shanghai Composite index rallied 1.53 percent to 3,309.78 after data showed industrial profit decline eased to 10 percent year-on-year in October from 27.1 percent the previous month. Hong Kong's Hang Seng index jumped 2.32 percent to 19,603.13, rebounding from a two-month low. Japanese markets retreated as a stronger yen weighed on automotive stocks such as Honda Motor, Toyota and Nissan, which fell 3-5 percent. Traders also fretted about the impact of U.S. President-elect Donald Trump's tariff pledges. The Nikkei average fell 0.80 percent to close at 38,134.97 and the broader Topix index finished 0.90 percent lower at 2,665.34. Seoul stocks ended lower, with the Kospi average closing down 0.69 percent at 2,503.06. Chip-related stocks declined, with Samsung Electronics tumbling 3.4 percent and SK Hynix plunging 5 percent due to elevated uncertainty surrounding the U.S. CHIPS Act. Australian markets advanced after data showed consumer price inflation rate in the country stayed at a three-year low in October, prompting analysts to predict a possible 25 basis point cut by May 2025. The benchmark S&P/ASX 200 climbed 0.57 percent to 8,406.70 while the broader All Ordinaries index settled 0.55 percent higher at 8,659.60. Online travel company Web Travel Group jumped 13.5 percent after unveiling its half-year results. Among financials, Commonwealth Bank of Australia and QBE Insurance both rose over 2 percent. Across the Tasman, New Zeeland's benchmark S&P/NZX-50 index jumped 0.76 percent to 13,212.92 as the country's central bank slashed its interest rate by 50 basis points, marking a third straight cut to its benchmark rate, and flagged more substantial easing to boost its struggling economy. U.S. stocks rose overnight as Donald Trump threatened to impose increased tariffs on Mexico, Canada, and China to combat illegal immigration and drugs. Meanwhile, the minutes of the Federal Reserve's latest monetary policy meeting showed that officials favor a gradual approach to lowering rates if economic data come in "about as expected, with inflation continuing to move down sustainably to 2 percent and the economy remaining near maximum employment." The Dow rose 0.3 percent to log another new record closing high and the S&P 500 gained 0.6 percent to extend gains for the seventh straight session while the tech-heavy Nasdaq Composite added 0.6 percent.
Asian Shares Mixed In Lackluster Trade
(RTTNews) - Asian stocks ended mixed on Thursday as traders took stock of the political crises in France and South Korea as well as comments by Federal Reserve Chair Jerome Powell indicating that the U.S. central bank will cut rates again when it meets later this month. Chinese shares ended on a firm note as investors awaited cues from an upcoming annual policy meeting that could roll out new stimulus measures. The benchmark Shanghai Composite index rose 0.12 percent to 3,368.86 while Hong Kong's Hang Seng index fell 0.92 percent to 19,560.44. Japanese stocks rose modestly to extend gains for a fourth day running as tech stocks tracked their U.S. peers higher. The Nikkei average ended the session up 0.30 percent at 339,395.60, paring some initial gains. The broader Topix index settled marginally higher at 2,742.24. Advantest surged 3.4 percent and SoftBank Group added 1.2 percent. The yen saw modest gains amid expectations for a Bank of Japan interest-rate hike this month. Seoul stocks extended losses from the previous session as opposition parties moved to impeach President Yoon Suk Yeol after short-lived martial law declaration that stunned the nation. The Kospi average dropped 0.90 percent to 2,441.85. Automaker Hyundai Motor and leading battery maker LG Energy Solution both fell around 2 percent while market behemoth Samsung Electronics rose 1.1 percent and No. 2 chipmaker SK Hynix rallied 3 percent. Australian markets advanced, led by gold miners and technology companies. The benchmark S&P/ASX 200 edged up by 0.15 percent to 8,474.90 while the broader All Ordinaries index settled 0.18 percent higher at 8,744.50. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index finished marginally higher at 12,896.95. U.S. stocks rose overnight to reach new record highs after ending mixed for two straight days. The tech-heavy Nasdaq Composite climbed 1.3 percent, the Dow gained 0.7 percent and the S&P 500 edged up by 0.6 percent following upbeat results from Salesforce and Marvell Technology, and positive comments by Federal Reserve Chair Jerome Powell on the growth and inflation outlook. Weaker-than-expected private sector employment and service sector activity data also contributed to optimism about the outlook for interest rates.
Asian Shares Mixed With China NPC Meeting In Focus
(RTTNews) - Asian stocks ended mixed on Friday after the Bank of England and the U.S. Federal Reserve cut interest rates by a quarter point. Focus shifted to stimulus announcements from China later in the day as the meeting in the Standing Committee of the National People's Congress ends. The dollar sagged in Asian trading after Fed Chair Jerome Powell said the central bank will evaluate data to adjust the "pace and destination" of rates. Gold prices were notably lower after rising more than 1 percent on Thursday. Oil prices dipped but were on track for a weekly gain. Chinese and Hong Kong markets ended lower as investors awaited details of a much-anticipated economic stimulus package to rev up the slowing Chinese economy. China's Shanghai Composite ended down 0.53 percent at 3,452.30 after a choppy session. Hong Kong's Hang Seng fell 1.07 percent to 20,728.19, giving up early gains. Japanese markets eked out modest gains as tech stocks followed their U.S. peers higher. The upside was capped by weak household spending data and a relatively stronger yen. The Nikkei average edged up by 0.30 percent to 39,500.37 while the broader Topix index finished marginally lower at 2,742.15. AI-focused startup investor SoftBank Group gained 1.6 percent and Tokyo Electron added 0.9 percent. Nissan Motor shares slumped more than 6 percent as the automaker announced plans to cut 9000 jobs and 20 percent of its global manufacturing capacity after net income plummeted in the first half. Seoul stocks ended slightly lower on lingering concerns regarding a second presidential term for Donald Trump. The Kospi average slid 0.14 percent to 2,561.15. Australian markets climbed to over a two-week high, with mining and gold stocks leading the surge. The benchmark S&P/ASX 200 jumped 0.84 percent to 8,295.10 while the broader All Ordinaries index closed up 0.84 percent at 8,552.60. Lender ANZ rose 1.3 percent despite posting a 9 percent drop in annual profit. Across the Tasman, New Zealand's benchmark S&P/NZX 50 index jumped 1.50 percent to 12,770.33. U.S. stocks closed higher overnight while Treasury yields fell alongside the dollar after the Fed delivered a 25-basis point interest-rate cut and signaled no intention to skip cutting rates. Fed Chair Jerome Powell stressed during his post-meeting press conference that rates are not on "any preset course" and that the central bank will make future decisions "meeting by meeting" to deal with the risks to both sides of the dual mandate. Investors also prepared for a "Trump 2.0 era" and "America First" economic stance, but there were some concerns about the effect planned tariff increases will have on inflation and interest rates. The tech-heavy Nasdaq Composite surged 1.5 percent, and the S&P 500 added 0.7 percent to score the second record finish in a row while the Dow finished marginally lower.
Asian Shares Mixed; China Leads Gains On Stimulus Hopes
(RTTNews) - Asian stocks ended mixed on Friday, with a stronger yen amid BOJ rate hike bets weighing on Japanese markets while Chinese stocks logged strong gains on stimulus expectations, heading into a key economic meeting next month. The Japanese yen briefly breached the key level of 150 against the dollar after core inflation in the capital region came in above the 2 percent target, boosting expectations for an interest rate hike in the near-term. On the contrary, Japanese industrial production and retail sales registered weaker-than-expected growth in November. The dollar fell alongside yields, helping gold prices push higher by nearly 1 percent in Asian trade. Brazil's real tumbled to a record low due to uncertainty over the fiscal outlook. Oil prices drifted lower after OPEC+ announced a postponement of its highly anticipated meeting to discuss production strategies. China's Shanghai Composite index rallied 0.93 percent to 3,326.46 amid speculation that Beijing will provide more support for the economy at a key policy meeting in December. Also, in a significant move, Beijing said it will extend tariff exemptions for the import of some U.S. products until Feb. 28, 2025, signifying a potential easing in trade barriers amid U.S. trade tensions. Hong Kong's Hang Seng index edged up by 0.29 percent to 19,423.61 after a choppy session. Japanese markets declined as the yen strengthened on BOJ rate hike speculation in response to hotter-than-expected inflation data. Markets, however, ended off their day's lows after reports that Japan may delay a decision on raising taxes to help cover rising defense spending. The Nikkei average closed 0.37 percent lower at 38,208.03 and fell 0.2 percent for the week, marking its third consecutive week of losses. The broader Topix index settled 0.24 percent lower at 2,680.71. Exporters Sony, Toyota Motor and Nissan shed 2-4 percent while tech stocks like SoftBank and Tokyo Electron dripped 1-2 percent. Seoul stocks fell the most in the region, a day after the Bank of Korea surprised markets with an interest-rate cut, citing slower-than-expected economic growth. An increasingly tense geopolitical environment on the Korean Peninsula also weighed on investors' risk appetite, sending the benchmark Kospi down 1.95 percent to 2,455.91. Australian markets finished marginally lower and bond yields fell across the curve as Reserve Bank Governor Michele Bullock warned of prolonged restrictive monetary policy, saying inflation is "too high" to consider interest-rate cuts. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index inched up 0.10 percent to close at 13,066.92. U.S. markets were closed Thursday for the Thanksgiving holiday and will open for half a day today.
Asian Shares Mixed; Chinese And Hong Kong Markets Underperform
(RTTNews) - Asian stocks ended mixed in thin cautious trade on Thursday amid the Thanksgiving holiday in the U.S. Amid much uncertainty about U.S. President-elect Donald Trump's tariff policies and the Federal Reserve's interest-rate path, investors looked ahead to a key economic meeting of Chinese policymakers next month, where there could be more stimulus actions to boost the struggling economy. China's Shanghai Composite index dropped 0.43 percent to 3,295.70 due to prevailing uncertainty around U.S. policies against China. Hong Kong's Hang Seng index fell 1.20 percent to 19,366.96. Japanese markets swung between gains and losses before finishing notably higher as the dollar rebounded back up to the lower 151-yen range and reports emerged that U.S. restrictions on sales of semiconductor technology and AI memory chips to China would not be as severe as previously expected. The Nikkei average rose 0.56 percent to 38,349.06 while the broader Topix index settled 0.82 percent higher at 2,687.28. Seoul stocks fluctuated before ending on a flat note as the Bank of Korea cut its key policy rate for a second consecutive meeting and lowered its growth forecasts, citing weaker global demand, higher tariffs and more policy uncertainty. The Kospi average finished marginally higher at 2,504.67 despite heavy selling in the tech space. Samsung Electronics dropped 1.4 percent and SK Hynix slumped 4.3 percent while LG Chem added 1.3 percent. Australian markets soared to new highs, helped by a sustained rally in the banking sector. The benchmark S&P/ASX 200 rose 0.45 percent to 8,444.30 while the broader All Ordinaries index settled 0.47 percent higher at 8,700. Commonwealth Bank of Australia, the country's biggest bank, rose 0.6 percent to extend recent sharp gains while Westpac added 0.8 percent, and NAB climbed 0.9 percent. Healthcare stocks extended gains for a fifth consecutive session, with biotech CSL adding 1.6 percent. Across the Tasman, New Zealand's benchmark S&P/NZX 50 index fell 1.21 percent to 13,053.56. Fisher & Paykel Healthcare declined 1.5 percent after the respiratory care business posted half-year profits and revenues at the lower end of guidance. U.S. stocks retreated from record highs overnight as PC makers Dell Technologies (DELL) and HP Inc. (HPQ) provided disappointing earnings guidance and new data showed an uptick in inflation. The annual rate of growth in the PCE price index accelerated to 2.3 percent in October from 2.1 percent in September, while the core personal consumption expenditure index climbed 2.8 percent from the corresponding period last year, reaching a six-month high, the Commerce Department said. In other economic news, the American economy expanded at a healthy 2.8 percent annual pace from July through September while weekly jobless claims fell again last week, separate reports showed. The S&P 500 slid 0.4 percent to snap a seven-session winning streak and the tech-heavy Nasdaq Composite shed 0.6 percent while the Dow dipped 0.3 percent to end a three-day streak of record highs.
Asian Shares Mixed; Nikkei Underperforms
(RTTNews) - Asian stocks ended mixed on Wednesday and the U.S. dollar index surpassed 104 mark, tracking elevated U.S. treasury yields amid easing expectations of aggressive Federal Reserve rate cuts and fears the U.S. may be heading toward fiscal collapse. Gold reached a new record high while oil prices fell after industry data showed U.S. crude inventories swelled more than expected. Chinese shares eked out modest gains after reports emerged that the government may deploy as much as 2 trillion yuan (US$280 billion) to establish a stock market stabilization fund. The benchmark Shanghai Composite index rose 0.52 percent to 3,302.80 while Hong Kong's Hang Seng index rallied 1.27 percent to 20,760.15. Japanese markets lost ground as investors were reluctant to place major bets ahead of the country's upcoming lower house election. Sentiment was also dented by rising Treasury yields due to shifting expectations around how fast and deep the Federal Reserve will cut rates. The Nikkei average fell 0.80 percent to 38,104.86 after media polls suggested that the ruling Liberal Democratic Party (LDP) and its coalition partner Komeito may lose their majority in the election. The broader Topix index settled 0.55 percent lower at 2,636.96. Staffing agency Recruit Holdings slumped 4.9 percent and Uniqlo-owner Fast Retailing dropped 1.7 percent while automakers Honda Motor and Toyota surged 2-3 percent on the back of a weaker yen. Tokyo Metro shares jumped 45 percent on the first day of trading for the company. Seoul stocks rose sharply, with automakers and technology stocks leading the rally. The Kospi average jumped 1.12 percent to 2,599.62. Market bellwether Samsung Electronics jumped 2.4 percent while No. 2 chipmaker SK Hynix surged 4.4 percent. Top carmaker Hyundai Motor gained 2.8 percent. Australian markets finished marginally higher, led by consumer staple stocks. The benchmark S&P/ASX 200 edged up 0.13 percent to 8,216 while the broader All Ordinaries index ended marginally up at 8,476.30. Supermarket operator Woolworths advanced 1.6 percent and Coles Group added 1.4 percent as their lawyers began defending allegations of dodgy discount behaviour in the Federal Court. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index dropped 0.20 percent to 12,787.60. U.S. stocks ended narrowly mixed overnight as Treasury yields continued to climb on prospects for a slower pace of Federal Reserve rate cuts and amid concerns about the possible fiscal impact of U.S. presidential election results. The Dow and the S&P 500 finished marginally lower while the tech-heavy Nasdaq Composite edged up 0.2 percent.
Asian Shares Mixed; Nikkei Underperforms After BoJ Ueda's Comments
(RTTNews) - Asian stocks turned in a mixed performance on Monday due to renewed concerns over Trump's potential tariffs and uncertainty over Fed's policy. The dollar rose against the yen in Asian trading and oil eked out modest gains amid signs of escalating tensions between Russia and Ukraine. Gold rose nearly 1 percent after witnessing a sharp decline last week. China's Shanghai Composite index ended 0.21 percent lower at 3,323.85, giving up early gains. Hong Kong's Hang Seng rose 0.77 percent to 19,576.61 after China's securities regulator said it will expand the scope of stock eligible to trade via Stock Connect. Japanese markets fell sharply as Bank of Japan Governor Kazuo Ueda affirmed that the door remains open to more rate hikes and the central bank is seeking more clarity on U.S. economic policy under the incoming administration of President-elect Donald Trump. Investors also digested downbeat data showing that Japan's core machinery orders fell for a second consecutive quarter. The Nikkei average dipped 1.09 percent to 38,220.85 while the broader Topix index settled 0.73 percent lower at 2,691.76. Pharmaceutical stocks fell the most after Trump nominated vaccine skeptic Robert F Kennedy as the U.S. Secretary for Health and Human Service. Seoul stocks rallied, with the Kospi average closing up 2.16 percent at 2,469.07. Samsung Electronics jumped 6 percent after the country's biggest firm announced surprise stock buyback plan. Australian markets ended modestly higher, led by miners and consumer staple stocks. The benchmark S&P/ASX 200 edged up by 0.18 percent to 8,300.20 while the broader All Ordinaries index rose 0.18 percent to 8,554.40. Uranium stocks Boss Energy and Deep Yellow surged over 7 percent each after Russia over the weekend banned enriched energy exports to the United States. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index finished 0.63 percent higher at 12,764.65 after services PMI improved in October. U.S. stocks fell sharply on Friday and the yield on the 10-year note touched a six-month high as recent economic data on inflation and retail sales coupled with comments from senior Fed officials, including Chair Jerome Powell, weakened the case for a December rate cut by the Federal Reserve. Data showed earlier in the day that sales at retailers rose solidly in October, suggesting the economy still has plenty of momentum heading into the holiday shopping season. Another report showing unexpected gains in both import and export prices added to worries about sticky inflation. The tech-heavy Nasdaq Composite plunged 2.2 percent, the S&P dropped 1.3 percent and the Dow shed 0.7 percent.
Asian Shares Mostly Higher On Bessent Pick For US Treasury
(RTTNews) - Most Asian stocks rose on Monday, the dollar dipped, and bond yields declined after U.S. President-elect Donald Trump has chosen wealthy hedge fund manager Scott Bessent to be his Treasury secretary. Bessent's reputation for stability and his past advocacy for gradual economic policies have calmed market nerves. Oil prices traded lower in Asian trading and gold prices were down nearly 2 percent after reports emerged that Israel and Lebanon based Hezbollah militant group are on cusp of a ceasefire deal. China's Shanghai Composite index slipped 0.11 percent to 3,263.76 after a choppy session as investors awaited the release of NBS PMI data this week for impacts on business conditions from recent stimulus and tariff worries. Hong Kong's Hang Seng index ended down 0.41 percent at 19,150.99, giving up initial gains. China's central bank today left the rate on medium-term lending facility unchanged after cutting the rate in September. Japanese markets posted strong gains on optimism around the U.S. economy. The Nikkei average climbed 1.30 percent to 38,780.14 ahead of November inflation numbers from the capital city of Tokyo, due to be released later in the week. The broader Topix index settled 0.71 percent higher at 2,715.60, with tech giants SoftBank Group and Tokyo Electron rising 3.4 percent and 4 percent, respectively. Uniqlo owner Fast Retailing surged 3.5 percent. Seoul stocks ended sharply higher ahead of Bank of Korea's interest-rate decision on Wednesday. The Kospi average rallied 1.32 percent to 2,534.34, led by tech and battery stocks. Samsung Electronics jumped 3.4 percent and LG Energy Solutions added 3.6 percent. Australian markets eked out modest gains as falling yields boosted property, technology and consumer stocks. The benchmark S&P/ASX 200 rose 0.28 percent to 8,417.60 ahead of inflation readings for October scheduled to be released on Wednesday. The broader All Ordinaries index ended up 0.33 percent at 8,661.20. SG Fleet Group shares soared 18.4 percent after the vehicle fleet management and leasing group confirmed that it is in discussions regarding a A$1.2 billion ($785 million) buyout offer from private equity group Pacific Equity Partners. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index jumped 1.18 percent to 13,196.08 ahead of the Reserve Bank of New Zealand's interest-rate decision on Wednesday, with a 50-bps rate cut fully priced in by markets. U.S. stocks rose on Friday and posted strong gains for the week, partly offsetting the sharp pullback seen in the previous week. The Dow jumped 1 percent to reach a new record closing high and the S&P 500 rose 0.4 percent to extend gains for the fifth day running while the tech-heavy Nasdaq Composite edged up by 0.2 percent.
Asian Shares Mostly Lower As Yields Climb
(RTTNews) - Asian stocks ended broadly lower on Tuesday as Middle East tensions persisted and rising bond yields made investors rethink about rate cut chances. The dollar index remained elevated and approached the next psychological mark of 104, supported by strong U.S. treasury yields. Gold held near record levels amid geopolitical uncertainties and ahead of the U.S. election that's less than two weeks away. Oil prices fell about 1 percent in Asian trade on concerns about slowing demand growth in China. Chinese and Hong Kong markets ended with modest gains after the People's Bank of China conducted its first operation of the Securities, Funds, and Insurance Companies Swap Facility (SFISF), aiming to leverage the role of financial institutions better in stabilizing China's capital market. China's Shanghai Composite index rose 0.54 percent to 3,285.87 while Hong Kong's Hang Seng index edged up 0.10 percent to 20,498.95. Japanese stocks tumbled amid concerns the ruling party may lose its lower house majority in the Oct. 27 election. The Nikkei average fell 1.39 percent to 38,411.96 while the broader Topix index settled 1.06 percent lower at 2,651.47. Tech stocks suffered heavy losses, with Advantest and Tokyo Electron falling around 3 percent each. Uniqlo-brand owner Fast Retailing lost 3.2 percent. Seoul stocks fell sharply on the back of selling by foreign investors. The Kospi average ended 1.31 percent lower at 2,570.70. Australian markets lost ground, with banks and miners leading losses on higher U.S. Treasury yields. The benchmark S&P/ASX 200 dipped 1.66 percent to 8,205.70 while the broader All Ordinaries index finished down 1.57 percent at 8,469. Wise Tech Global surged 2.8 percent after settling a lawsuit involving its CEO. Coal miners performed well, with Yancoal Australia climbing 3 percent and Stanmore Resources rallying 3.4 percent on China stimulus optimism. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index dropped 0.85 percent to 12,813.15. U.S. stocks ended mostly lower overnight as bond yields jumped and investors geared up for key earnings. In economic news, data showed the leading economic index fell more than expected in September. The 10- and 30-year Treasury yields hit almost three-month closing highs on growing worries about the prospects of a rising U.S. deficit and fears about higher-for-longer interest rates. The Dow gave up 0.8 percent to log its biggest fall in two weeks and snap a three-session winning streak. The S&P 500 slid 0.2 percent while the tech-heavy Nasdaq Composite edged up 0.3 percent.
Asian Shares Mostly Lower On US Election Uncertainty
(RTTNews) - Asian stocks ended mostly lower on Thursday as rising yields on uncertainty over the U.S. election outcome weighed on the tech sector. Tesla's forecast-beating earnings provided some comfort for investors, helping limit regional losses. The dollar held near three-month highs on increased expectations of a possible return of Donald Trump to the White House and growing bets the Federal Reserve may be more restrained in their easing pace. Gold drifted higher amid safe-haven demand as Middle East tensions persisted. Oil prices were up more than 1 percent in Asian trading after retreating on Wednesday on data showing a larger than expected increase in crude oil inventories in the U.S. China's Shanghai Composite index dropped 0.68 percent to 3,280.26 on concerns the U.S.-China tech war ma heat up - no matter whether Donald Trump or Kamala Harris wins the November 5 presidential election. Hong Kong's Hang Seng index fell 1.30 percent to 20,489.62. Japanese markets reversed early losses to end modestly higher and the yen weakened across the board after Bank of Japan governor Kazuo Ueda said it is becoming difficult to judge how large future rises in borrowing costs will be. Earlier in the day, a private survey showed Japan's factory activity contracted for the fourth straight month in October on subdued demand and weak orders. The Nikkei average edged up 0.10 percent to 38,143.29 while the broader Topix index settled marginally lower at 2,635.57. Seoul stocks fell notably as data revealed South Korea narrowly avoided a technical recession in Q3. The Kospi average dipped 0.72 percent to 2,581.03. Korea Zinc shares jumped nearly 30 percent on the heels of the company's tender offer for its own shares, which concluded the previous day. Australian markets ended slightly lower after the PMI manufacturing index hit a 53-moth low in October. The benchmark S&P/ASX 200 slipped 0.12 percent to 8,206.30 while the broader All Ordinaries index closed 0.26 percent lower at 8,453.90. Tech shares led losses, with WiseTech Global falling 6.3 percent. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index inched up 0.21 percent to close at 12,814.07. U.S. stocks fell overnight as rising bond yields and uncertainty about the outcome of the Nov. 5 presidential election triggered a sell-off in the world's largest technology companies. The 10-year yield rose to its highest level in almost three months amid bets the Federal Reserve will take a more measured approach on rate cuts. The Dow dropped 1 percent and the S&P 500 declined 0.9 percent to extend losses into a third straight day, while the tech-heavy Nasdaq Composite tumbled 1.6 percent.
Asian Shares Rise Ahead Of Chinese Stimulus Meeting
(RTTNews) - Asian stocks rose in thin trade on Monday, with Japanese markets closed for Culture Day holiday. Regional gains were impressive despite persisting Middle East tensions and anxiety ahead of this week's U.S. presidential election and the Federal Reserve's interest-rate decision. The dollar slipped as weaker than expected U.S. jobs data pointed a cooling labor market. Gold edged up as Iran and Azerbaijan began two days of joint naval exercises in the Caspian Sea. Iran's Supreme Leader Ayatollah Ali Khamenei has vowed that Israel and the U.S. would face a "teeth-breaking response" for their actions against the country. The Wall Street Journal reported that Iran is planning a complex attack on Israel, which may include missiles with high-powered warheads. Both WTI and Brent crude contracts jumped around 2 percent in Asian trade after OPEC+ agreed to push back its December production increase by one month. China's Shanghai Composite index rallied 1.17 percent to 3,310.21 as investors looked ahead to a meeting of China's National People's Congress that is expected to unveil a new fiscal stimulus package focused on stabilizing the economy through local government debt swaps and injections of capital into banks. Hong Kong's Hang Seng index edged up by 0.30 percent to 20,567.52 on hopes for fresh policy measures from Beijing to boost consumer consumption. Seoul stocks logged strong gains after the country's opposition Democratic Party leader agreed to support the government's move to scrap a scheme to tax profits on stock investments. The Kospi average jumped 1.83 percent to close at 2,588.97. Chipmaker Samsung Electronics rose 0.7 percent while peer SK Hynix surged 6.5 percent and battery maker LG Energy Solution climbed 3.3 percent. Australian markets advanced, led by banks and healthcare stocks ahead of the Reserve Bank of Australia's upcoming policy meeting. The benchmark S&P/ASX 200 rose 0.56 percent to 8,164.60 while the broader All Ordinaries index settled 0.51 percent higher at 8,422.80. Westpac gained 0.9 percent as the banking major increased its share buyback program by an additional A$1 billion. Mineral Resources plummeted 9.6 percent on news that managing director Chris Ellison will step down after the board found he used the company's resources for his personal benefits. Across the Tasman Sea, New Zealand's benchmark S&P/NZX-50 index edged up by 0.25 percent to 12,590.60. U.S. stocks ended firmly in positive territory on Friday as upbeat earnings news from Amazon and Intel helped investors look past a disappointing jobs report. Data showed the U.S. economy added just 12,000 jobs in October, marking the weakest level of jobs creation since December 2020 after a downwardly revised 223,000 jobs in September, impacted by hurricanes and labor strikes. The jobless rate held at 4.1 percent, in line with estimates. The tech-heavy Nasdaq Composite jumped 0.8 percent, the Dow gained 0.7 percent and the S&P 500 added 0.4 percent.
Asian Shares Rise On China Optimism
(RTTNews) - Asian stocks ended mostly higher on Tuesday after Chinese Premier Li Qiang expressed confidence that his government can pull off an economic recovery. Additionally, a private survey showed China's services activity expanded at the fastest pace in three months in October. The dollar was on the defensive and gold was little changed as the U.S. presidential election got underway, with polls predicting a tight race. Oil prices were subdued in Asian trade after rallying almost 3 percent on Monday following OPEC+'s decision to delay restoring barrels to the market. China's Shanghai Composite index jumped 2.32 percent to 3,386.99 and Hong Kong's Hang Seng index added 2.14 percent to close at 21,006.97 after Chinese Premier Li Qiang said he is confident of meeting this year's growth target and that there was room for more stimulus. Observers hope a specific figure for the stimulus could emerge from this week's meeting of the Standing Committee of National People's Congress, the top body of China's rubber stamp parliament. There was also some cheer on the data front. China's service activity expanded at the fastest pace since July, a private survey showed today in a sign that consumer demand may be on the mend. Japanese markets rallied as trading resumed after a long holiday weekend. The Nikkei average climbed 1.11 percent to 38,474.90 while the broader Topix index settled 0.76 percent higher at 2,664.26. Nintendo shares fell 3.9 percent. The gaming company today cut its annual operating profit forecast by 10 percent to 360 billion yen ($2.36 billion), as its ageing Switch console loses steam. Seoul stocks ended lower as caution crept in ahead of the U.S. election and the Federal Reserve's interest-rate decision due later this week, with the U.S. central bank widely expected to cut its main interest rate for a second straight time. Geopolitical tensions also weighed after North Korea launched a salvo of ballistic missiles towards the sea off the east coast of the Korean Peninsula. The Kospi average dropped 0.47 percent to 2,576.88. Data showed earlier today that South Korea's October headline inflation slowed further to the weakest level in almost four years. Australian markets fell slightly as the Reserve Bank of Australia held the official cash rate at 4.35 percent and signaled no immediate plans for rate cuts. The benchmark S&P/ASX 200 dipped 0.40 percent to 8,131.80, with financials and consumer stocks leading losses. The broader All Ordinaries index closed 0.42 percent lower at 8,387.80. Domino's Pizza Enterprises slumped 6.3 percent after an announcement that long-time chief executive and managing director Don Meij will retire effective 6 November. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.54 percent to 12,658.30. U.S. stocks drifted lower overnight as investors refrained from making big bets ahead of the presidential election and the Fed's interest-rate decision. The Dow shed 0.6 percent, while the tech-heavy Nasdaq Composite and the S&P 500 both dipped around 0.3 percent.
Asian Shares Rise; Nikkei Outperforms On Weaker Yen
(RTTNews) - Asian stocks rose broadly on Monday, with Japanese markets leading regional gains after the country's ruling Liberal Democratic party lost its majority in Parliament's lower house in weekend elections, triggering a sharp fall in the yen to a three-month low and boosting export-related shares. The dollar firmed up and gold inched lower amid heightened global uncertainties and ahead of key U.S. inflation, GDP and labor market data due later in the week. Oil prices were down more than 4 percent in Asian trading after Israel's attack on Iran at the weekend avoided oil and nuclear facilities and Tehran signaled a measured response. China's Shanghai Composite index rose 0.68 percent to 3,322.20 ahead of key economic activity readings due this week. Investors shrugged off data that showed China's industrial profits in September dropped at its fastest pace since the pandemic. Hong Kong's Hang Seng index finished marginally higher at 20,599.36 after a volatile session. Japanese markets logged strong gains as a weaker yen lifted exporters like Honda Motor, Toyota, Sony and Nintendo up by 2-4 percent. The Nikkei average jumped 1.82 percent to 38,605.53 as the ruling party defeat had been greatly factored in by markets. The broader Topix index closed 1.51 percent higher at 2,657.78. Seoul stocks rallied on the back of gains in the technology sector, with heavyweight Samsung Electronics rising 3.9 percent. Korea Zinc jumped 3.8 percent after announcing it has secured 9.85 percent of the company's shares in a $1.5 billion buyback. The Kospi average closed up 1.13 percent at 2,612.43. Australian markets ended modestly higher as financials lagged behind, offsetting gains in the mining sector propelled by spiking iron ore prices. The benchmark S&P/ASX 200 inched up 0.12 percent to 8,221.50 ahead of upcoming domestic inflation data. The broader All Ordinaries index settled 0.13 percent higher at 8,478.20. The New Zealand market was closed for Labour Day holiday. U.S. stocks ended mixed on Friday as investors braced for a busy week of earnings and economic data releases. Adding to optimism over the economic outlook, a survey showed U.S. consumer sentiment unexpectedly improved in October. The Dow shed 0.6 percent to close lower for the fifth straight day and the S&P 500 edged down marginally while the tech-heavy Nasdaq Composite gained 0.6 percent due to strong performance of Tesla shares.
AT＆T Q1营收439.39亿美元，设备营收同比增长45.2％
其他数据方面，AT&T 移动业务营收为同比增长 9.4%，其中服务营收增长 0.6%，设备营收增长 45.2%。后付费用户净增 823,000，后付费电话用户净增 595,000，后付费电话用户流失率为 0.76%；前付费电话用户净增 207,000。展望未来，该公司预计 2021 年全年综合营收同比增幅在 1% 左右；调整后每股收益同比持平；总资本投资约为 220 亿美元，资本支出约为 170 亿美元；自由现金流约为 260 亿美元，全年派息率将约为 50%。
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