技术峰会
Asian Markets A Sea Of Red
(RTTNews) - Asian stock markets are trading mostly lower on Monday, despite the broadly positive cues from Wall Street on Friday, as traders react to the smaller than expected size of China's fresh stimulus measures and the release of weak inflation data over the weekend that spurred new concerns over the recovery in the world's second-largest economy. Hong Kong market plunges almost 3 percent. Asian markets closed mixed on Friday.
The Australian stock market is trading notably lower on Monday, reversing some of the gains in the previous three sessions, despite the broadly positive cues from Wall Street on Friday. The benchmark SP/ASX 200 index is falling well below the 8,300.00 level, with weakness in iron ore miners and energy stocks amid tumbling prices of underlying commodities, partially offset by gains in gold miners and technology stocks.
The benchmark SP/ASX 200 Index is losing 35.30 points or 0.43 percent to 8,259.80, after hitting a low of 8,251.90 earlier. The broader All Ordinaries Index is down 38.30 points or 0.45 percent to 8,514.30. Australian stocks closed significantly higher on Friday.
Among the major miners, BHP Group and Rio Tinto are losing almost 4 percent each, while Fortescue Metals is slipping almost 5 percent and Mineral Resources is declining more than 3 percent.
Oil stocks are mostly lower. Beach energy is declining more than 1 percent, while Woodside Energy and Santos are losing almost 1 percent each. Origin Energy is edging up 0.2 percent.
Among tech stocks, Afterpay owner Block is gaining more than 1 percent, Appen is advancing almost 3 percent, Xero is up almost 1 percent, WiseTech Global is adding almost 2 percent and Zip is rising 4.5 percent.
Gold miners are mostly higher. Evolution Mining and Gold Road Resources are edging up 0.3 to 0.4 percent each, Northern Star Resources is gaining more than 2 percent and Newmont is adding more than 1 percent, while Resolute Mining is plummeting almost 28 percent after it confirmed that chief executive Terry Holohan has been detained by the military-controlled government of Mali in West Africa to discuss business practices.
Among the big four banks, and National Australia Bank and ANZ Banking are edging up 0.2 to 0.3 percent each, while Westpac is losing almost 1 percent. Commonwealth Bank is flat.
In other news, shares in Endeavour Group are sliding more than 5 percent after Dan Murphy's and BWS parent warned of lower profit in the second half amid flat sales in its stores and higher promotions.
Shares in Novonix are skyrocketing more than 11 percent after signing a supply deal with automotive company Stellantis to supply high-performance synthetic graphite for its North American battery production partners.
In the currency market, the Aussie dollar is trading at $0.659 on Monday.
The Japanese stock market is trading modestly lower on Monday, reversng to the gains in the previous session. The benchmark SP/ASX 200 is falling well above the 39,400 level, despite the broadly positive cues from Wall Street on Friday, with weakness across most sectors led by index heavyweights, financial and technology stocks.
The benchmark Nikkei 225 Index closed the morning session at 39,347.79, down 152.58 or 0.39 percent, after hitting a low of 39,315.61 earlier. Japanese shares ended modestly higher on Friday.
Market heavyweight SoftBank Group is gaining more than 1 percent, while Uniqlo operator Fast Retailing is edging down 0.4 percent. Among automakers, Honda is losing more than 1 percent, while Toyota is flat.
In the tech space, Screen Holdings is losing more than 1 percent and Tokyo Electron is declining more than 1 percent, while Advantest is edging up 0.5 percent.
In the banking sector, Sumitomo Mitsui Financial, Mizuho Financial and Mitsubishi UFJ Financial are losing almost 1 percent each.
The major exporters are mostly higher. Panasonic is gaining more than 4 percent and Sony is surging more than 6 percent each, while Canon and Mitsubishi Electric are edging down 0.1 to 0.2 percent each.
Among other major losers, Kawasaki Heavy Industries and Socionext are slipping more than 5 percent each, while Sumco, Nissan Motor and Kubota is losing almost 5 percent each. Secom is down more than 4 percent, while Hitachi Construction Machinery and Shiseido are declining almost 4 percent each. Mitsui Fudosan, Ajinomoto, Ricoh, Olympus, Taisei, Mitsubishi Materials and Daikin Industries are sliding more than 3 percent each.
Conversely, Furukawa Electric is skyrocketing almost 15 percent, DeNA is soaring almost 14 percent, Fujikura is surging more than 7 percent and Suzuki Motor is gaining more than 6 percent, while Sumitomo Electric Industries and Nissui are adding more than 3 percent each. Terumo is up almost 3 percent.
In the currency market, the U.S. dollar is trading in the lower 153 yen-range on Monday.
Elsewhere in Asia, Hong Kong is down 2.7 percent, while New Zealand, China, Singapore, South Korea, Malaysia, Indonesia and Taiwan are lower by between 0.1 and 1.0 percent each.
On Wall Street, stocks moved mostly higher over the course of the trading day on Friday extending the substantial rally seen over the past few sessions. With the continued upward move, the major averages all reached new record closing highs.
The major averages pulled back off their best levels going into the close but remained in positive territory. The Dow climbed 259.65 points or 0.6 percent to 43,988.99, the Nasdaq inched up 17.32 points or 0.1 percent to 19,286.78 and the SP 500 rose 22.44 points or 0.4 percent to 5,995.54.
Meanwhile, the major European markets all moved to the downside on the day. While the French CAC 40 Index tumbled by 1.2percent, the U.K.'s FTSE 100 Index and the German DAX Index both slide by 0.8 percent.
Crude oil prices fell sharply Friday on concerns about the outlook for demand due to data showing a drop in China's oil imports, and disappointment over the size of China's fresh stimulus measures. West Texas Intermediate Crude oil futures for December sank $1.98 or 2.7 percent at $70.38 a barrel; the contract gained 1 percent in the week.
Dow, S&P 500 Post New Closing Highs; Nasdaq Settles Flat
(RTTNews) - U.S. stocks closed on a firm note on Monday, lifting the Dow and the SP 500 to new record highs, even as the Nasdaq settled flat with technology stocks turning in a subdued performance.
Investors remained optimistic that Donald Trump's policies such as tax reductions and deregulation will help boost corporate earnings.
The volume of business was somewhat thin in the absence of economic data, and due to a lack of significant triggers. Over the next few days, reports on consumer and producer price inflation are likely to attract attention along with reports on retail sales and industrial production this week.
The Dow, which climbed to 44,486.70, gave up some gains subsequently, but stayed firm right through the day's session to settle at 44,293.13, up 304.14 points or 0.69 percent from previous close. The SP 500 closed up 5.81 points or 0.1 percent at 6,001.35, after having advanced to a new high at 6,017.31. The Nasdaq, which spent much of the day's session in negative territory, eked out a small gain of 11.99 points or 0.06 percent, settling at 19,298.76.
Tesla climbed about 9 percent. Salesforce climbed more than 6 percent. PayPal rallied 4.7 percent. Starbucks closed up 3.2 percent and Airbnb gained 2.7 percent.
American Express, Goldman Sachs, United Health, JPMorgan Chase, Walt Disney, Alphabet, Home Depot, Mastercard, Cisco, Visa, Bank of America, Netflix and Nike gained 1 to 2.5 percent.
Apple Inc., Analog Devices, Micron Technoloy and Intel closed weak. Moderna dropped about 7 percent. Merck, Boeing, Nvidia, Amazon, Nvidia and Microsoft also ended notably lower.
In overseas trading, Asian stocks retreated on Monday as Beijing's latest stimulus fell short of investor expectations and weak inflation data dampened hopes for a significant recovery in the world's second largest economy.
The major European markets closed higher today with investors continuing to assess what could be in store for global markets during Trump's second term.
BoJ Cautious On Rate Hike Timing, October Summary Shows
(RTTNews) - The Bank of Japan board members said they need to be cautious on the timing of future rate hike, a summary of opinions showed on Monday.
"As the Bank has been expecting to raise the policy interest rate at a moderate pace, it has time to monitor the future course of the U.S. economy, including that after the presidential election," one member was quoted as saying at the October monetary policy meeting.
Another member said it is necessary to take time and exercise caution when raising the policy interest rate.
One board member said the BoJ should communicate effectively its core message that "if the outlook for economic activity and prices will be realized, the BoJ will continue to raise the policy interest rate accordingly."
At the October meeting, the board had maintained the key rate at around 0.25 percent, which was the highest since late 2008.
The bank had ended its negative interest rate policy in March and last lifted the benchmark rate in July to the current level.
Dow, S&P Climb To New Record Highs; Technology Stocks Decline
(RTTNews) - U.S. stocks are broadly higher on Monday, although the technology sector is seeing some weakness due to profit taking. The Dow and the SP 500 climb to new record highs this morning, and remain fairly well placed in positive territory.
Investors continue to cheer Donald Trump's win in the presidential election, and remain optimistic that his policies, such as tax reductions and deregulation, will help boost corporate earnings.
Due to a lack of economic data, the volume of business is somewhat thin. Reports on consumer and producer price inflation are likely to attract attention along with reports on retail sales and industrial production this week.
The Dow, which climbed to 44,486.70, was up 352.03 points or 0.8 percent at 44,341.02 a little while ago. The SP 500 was up 13.20 points or 0.23% at 6,008.74, after having advanced to 6,017.31 earlier in the session. The Nasdaq, which moved up to 19,366.07 at the start, was down 7.10 points or 0.05 percent at 19,279.68.
Tesla, Inc. shares are rising more than 8 percent. Salesforce. Inc, shares are gaining more than 5 percent. Wells Fargo is up 4.3 percent, and Blackstone is gaining 3.3 percent. Starbucks is advancing 3.2 percent.
Berkshire Hathaway, JP Morgan Chase, Visa Inc., Mastercard, Bank of America, T-Mobile, Accenture, Adobe Inc., American Express, Morgan Stanley, Caterpillar, Goldman Sachs, Walt Disney, Honeywell International and Nike are gaining 1 to 3 percent.
Intel Corp., Boeing, Micron Technology, Texas Instruments, Advanced Micro Devices, Merck, Meta Platforms, Apple Inc., Microsoft and Nvidia Corporation are down 1 to 4 percent.
In overseas trading, Asian stocks retreated on Monday as Beijing's latest stimulus fell short of investor expectations and weak inflation data dampened hopes for a significant recovery in the world's second largest economy.
The major European markets closed higher today with investors continuing to assess what could be in store for global markets during Trump's second term.
Bay Street May Open Higher
(RTTNews) - Canadian shares may open higher on Monday, tracking positive lead from European markets. However, weak crude oil and metal prices may weigh and limit market's upside. With a slew of key economic data due later in the week, the mood is likely to remain cautious.
The dollar hovers near four-month peak versus major peers on expectations of light regulation under Donal Trump and ahead of key U.S. inflation data and speeches by Federal Reserve officials, including Fed Chair Jerome Powell later in the week.
E L Financial Corporation Limited (ELF.TO) reported a consolidated shareholder's net income of $497 million or $146.56 per common share for the third quarter ended September 30, 2024, compared to a net loss of $57 million or $17.73 per common share for the same period in 2023.
The Canadian market ended lower on Friday as energy and materials stocks fell on weak commodity prices as the U.S. dollar climbed higher on bets the Federal Reserve will be less aggressive with regard to rate cuts during Donald Trump's second term.
Investors digested Canadian employment data, and a slew of corporate earnings announcements.
The benchmark SP/TSX Composite Index closed down 86.53 points or 0.35% at 24,759.40. The index, which touched a low of 24,679.72 and a high of 24,804.26 in the session, posted a gain of 2.1% in the week.
Asian stocks closed weak on Monday as Beijing's latest stimulus fell short of investor expectations and weak inflation data dampened hopes for a significant recovery in the world's second largest economy.
Concerns over U.S. dollar strength and international trade relationships also weighed on regional markets as the Republican Party edged closer to sweeping both chambers of the U.S. Congress.
European stocks are up firmly in positive territory on Monday, with inflation readings across Europe, U.S. and a preliminary reading of euro zone third quarter GDP awaited.
In commodities, West Texas Intermediate Crude oil futures are down $1.56 or 2.22% at $68.82 a barrel.
Gold futures are down $31.30 or 1.16% at $2,663.50 an ounce, while Silver futures are lower by $0.259 or 0.81% at $31.190 an ounce.
Continental Stock Up On Strong Q3 Profit; Cuts FY24 Sales View
(RTTNews) - Shares of Continental AG were gaining around 7 percent on the German trading after the automotive parts maker reported Monday significantly higher profit in its third quarter, mainly as Automotive sector was benefited by the measures taken to improve earnings.
Further, the company maintained fiscal 2024 adjusted margin outlook, but trimmed its sales forecast, after adjusting its outlook for ContiTech. Continental said it does not expect the industrial business to recover in the fourth quarter.
CEO Nikolai Setzer said, "Automotive is on track to fulfill the requirements for a spin-off by the end of 2025. This spin-off is still being evaluated. Furthermore, the measures we have defined and implemented to improve earnings are having the desired effect. … In this challenging year-end sprint, we aim to improve Automotive's earnings even further."
For the full year, Continental maintained group adjusted EBIT margin outlook of around 6 to 7 percent; as well as outlook for Automotive and Tires sectors.
However, the company now projects sales in the range of around 39.5 billion euros to 42.0 billion euros, lower than prior guidance range of 40.0 billion euros to 42.5 billion euros.
For the ContiTech group sector, Continental now expects sales of around 6.2 billion euros to 6.6 billion euros, down from earlier expected 6.6 billion euros to 7.0 billion euros. Adjusted EBIT margin for the sector would be around 5.8 to 6.3 percent, lower than previously expected 6.5 to 7.0 percent.
Continental expects the production of passenger cars and light commercial vehicles to decrease year-on-year.
Demand in the tire-replacement business is expected to pick up slightly in the second half of 2024 compared with the first six months, while the industrial business worldwide is expected to remain sluggish.
The Automotive group sector aims to make further gains in adjusted EBIT in the fourth quarter.
In the third quarter, net income was 486 million euros, a growth of 62.8 percent from 299 million euros in the prior year. Earnings per share were 2.43 euros, compared to 1.49 euros a year ago.
Adjusted operating result was 873 million euros, up 36.0 percent from last year's 642 million euros, corresponding to an adjusted EBIT margin of 8.9 percent, compared to 6.3 percent in the prior year.
The Automotive group sector was benefited by the measures such as reducing costs and adjusting prices, and the Tires group sector posted a good adjusted EBIT on the back of improved business in Europe.
Earnings in ContiTech, by contrast, were dented by continued weak industrial development in Europe and North America.
Third-quarter consolidated sales, meanwhile, fell 4 percent to 9.83 billion euros from prior year's 10.24 billion euros.
In the Automotive group sector, sales dropped 4.7 percent year-over-year to 4.8 billion euros, hampered primarily by declining markets. The ContiTech group sector's sales declined 10 percent to 1.5 billion euros, while the Tires group sector generated sales of 3.5 billion euros, up 1.9 percent.
The global production of passenger cars and light commercial vehicles fell around 5 percent to 21.6 million units from 22.6 million units a year ago.
At around 3.6 million units, vehicle production in Europe dropped 6 percent, while production in North America declined 5 percent to around 3.8 million vehicles. China posted a 3 percent decline, producing around 7.3 million vehicles in the third quarter.
On the XETRA in Germany, Continental shares were trading at 60.64 euros, up 7.3 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Trump Win Lifts Dollar Despite Fed-led Dip
(RTTNews) - A historic win for former President Donald Trump in the U.S. Presidential elections boosted the U.S. Dollar and lifted the Dollar Index for the 6th week in a row. Despite the Fed's rate cut weakening the greenback, the U.S. Dollar gained against the euro, the British pound, the Swedish krona as well as the Swiss franc during the week ended November 8. It however slipped against the Australian Dollar, the Japanese yen and the Canadian dollar.
The Dollar Index or DXY added 0.69 percent and touched a four-month high during the week ended November 8, amidst euphoria that followed Trump's commanding electoral victory. The second rate cut by the Fed as well as the signaling of future rate cuts however capped gains for the Dollar Index.
The Federal Reserve Open Markets Committee in its monetary policy review on Thursday unanimously decided to lower the target range for the federal funds rate by 0.25 percentage point to 4.5 to 4.75 percent. The FOMC, that seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run reiterated that the risks to achieving its employment and inflation goals were roughly in balance.
The Dollar Index which was at 104.28 on November 1 rallied to close at 105.00 on November 8. The week's trading range was slightly wider, with a low of 103.37 recorded on Tuesday and a high of 105.44 recorded on Wednesday.
The EUR/USD pair plunged more than a percent during the week ended November 8 amidst concerns about the potential impact of Trump administration's policies on Eurozone's exports, as well as the collapse of Germany's coalition govt. The pair slipped to 1.0718 on Friday from 1.0834 a week earlier. The past week's high of 1.0937 and low of 1.0681 were both recorded on Wednesday in the aftermath of the election result announcement in the U.S.
The sterling edged down 0.04 percent during the week ended November 8 that saw Bank of England deliver its second rate cut since 2020. As widely expected, the Bank of England slashed rates by 25 basis points to 4.75 percent from 5 percent. The GBP/USD pair declined to 1.2921 on November 8 from 1.2926 a week earlier. The week's high of 1.3047 and low of 1.2832 were both recorded on Wednesday as markets digested Trump's resounding electoral victory.
The hawkish pause by the Reserve Bank of Australia on Tuesday helped the Aussie record gains of more than 0.30 percent against the U.S. Dollar during the week ended November 8. The RBA maintained rates steady for an eighth meeting in a row as it awaits more evidence that inflation would soon return to its preferred target range. From the level of 0.6559 recorded on November 1, the AUD/USD pair rose to 0.6580. The pair touched a high of 0.6687 on Thursday and a low of 0.6510 on Wednesday.
The yen rallied amidst uncertainty over Bank of Japan's monetary policy outlook and fears of regulatory intervention in the currency market. Minutes of the recent meeting of the Bank of Japan released on Tuesday showed policymakers split on the question of more rate hikes. The USD/JPY slipped during the week ended November 8, closing at 152.63 on Friday versus 152.98 on November 1. The pair ranged between the low of 151.27 on Wednesday and the high of 154.71 on Thursday, the highest level since July.
At the onset of the new week, the 6-currency DXY has rallied to 105.53 as markets price in the potential impact of Donald Trump's policies on taxation, inflation and the headroom available to the Fed for further monetary easing. Crucial data including consumer price inflation, producer price inflation and retail sales as well as a speech by Jerome Powell are scheduled for the week.
The EUR/USD pair has declined to a more than four month low of 1.0650 amidst renewed tariff worries. The GBP/USD pair has decreased to 1.2879. The AUD/USD pair is flat at 0.6580 amidst disappointment over the extent of stimulus measures from China. Amidst the yen's weakness, the USD/JPY pair has jumped to 153.84.
Technology, Financials Shares Lifting Canadian Market
(RTTNews) - The Canadian market is notably higher in late morning trade on Monday with investors continuing to react positively to Donald Trump's win in the U.S. Presidential Election.
Stocks from technology, financials and utilities sectors are contributing significantly to the climb up north. to benefit from the upward momentum generated in reaction to former President Donald Trump's decisive victory in the U.S. presidential election.
Several stocks from industrials and consumer sectors are also notably higher. Materials stocks are down sharply due to weak metal prices.
The benchmark SP/TSX Composite Index is up 95.50 points or 0.4% at 24,854.90 nearly half an hour before noon.
The Information Technology Capped Index is rising more than 2%. Bitfarms (BITF.TO), the top gainer in the index is up nearly 15%. BlackBerry (BB.TO) is up 6.5%.
Shopify Inc (SHOP.TO) is gaining about 4.2%. Lightspeed Commerce (LSPD.TO), Converge Technology Solutions (CTS.TO), Coveo Solutions (CVO.TO), Constellation Software (CSU.TO), Open Text Corporation (OTEX.TO), Dye Durham (DND.TO) are up 1.3 to 3.3%.
In the financials sector, Onex Corp (ONEX.TO) is up 3.5% and Brookfield Corporation (BN.TO) is gaining about 3.1%. Manulife Financial (MFC.TO) and Brookfield Asset Management (BAM.TO) are rising 2.5% and 2.3%, respectively.
Algonquin Power Utilities (AQN.TO), up 4%, is the top gainer in the Utilities Index. Brookfield Infra Partners (BIP.UN.TO) and Emera Incorporated (EMA.TO) are up 2.8% and 2%, respectively.
The Materials Capped Index is down 4.4%. Iamgold Corp (IMG.TO) is down more than 10% and Seabridge Gold (SEA.TO) is down nearly 10%. Kinross Gold (K.TO), Osisko Gold Royalties (OR.TO), Equinox Gold Corp (EQX.TO), Eldorado Gold (ELD.TO), MAG Silver Corp (MAG.TO) and Silvercrest Metals (SIL.TO) are declining 6 to 9%.
Wheaton Precious Metals (WPM.TO), K92 Mining Inc (KNT.TO), Pan American Silver Corp (PAAS.TO), Agnico Eagle Mines (AEM.TO), Lundin Gold (LUG.TO), Hudbay Minerals (HBM.TO), Wesdom Gold Mines (WES.TO), B2Gold Corp (BTO.TO) and Barrick Gold Corp (ABX.TO) are also down sharply.
European Stocks Close On Firm Note
(RTTNews) - European stocks closed on a positive note on Monday as investors continued to assess the potential impact of Donald Trump's second term as U.S. President on global financial markets and on the geopolitical front.
Markets also looked ahead to a slew of key economic data this week, including U.S. inflation data, Germany's inflation report and U.K. GDP data.
The pan European Stoxx 600 climbed 1.13%. The U.K.'s FTSE 100 gained 0.65%, Germany's DAX and France's CAC 40 ended higher by 1.21% and 1.2%, respectively, while Switzerland's SMI closed up 0.89%.
Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Ireland, Netherlands, Norway, Portugal, Russia, Spain, Sweden and Turkiye closed higher.
Iceland and Poland ended on a weak note.
Shares of defense companies moved up on expectations of increased defense expenditure in the U.S and other developing countries during Trump's presidency.
China-related luxury firms gained after China announced a five-year package totaling 10 trillion yuan ($1.4 trillion) to tackle local government debt problems.
In the UK market, Croda International rallied about 5.3% after the company agreed to buy back £1 billion of shares from the government.
Natwest Group gained 4% after it agreed to buy back £1 billion of shares from the government.
Rolls-Royce Holdings and Sage Group gained 3.4% and 3.2%, respectively.Lloyds Banking Group, ICG, DCC, Scottish Mortgage, Vistry Group, MG, United Utilities, Airtel Africa, Smith Nephew, IAG, 3i Group, Entain and Standard Chartered ended higher by 1.8 to 2.75%.
Schrodders moved up sharply after announcing it will reduce the size of its executive committee to streamline the firm and improve its performance after its quarterly trading update last week showed a marked outflow of funds and drove shares to sink by nearly 14%.
Endeavour Mining closed nearly 6% down. Fresnillo ended down 3.4%. Sainsbury (J) ended lower by 2.3%. Rio Tinto, Antofagasta, Anglo American Plc, Marks Spencer and Glencore lost 1.6 to 2%.
In the German market, Continental soared more than 10% buoyed by strong third-quarter core earnings. Rheinmetall, Infineon, Deutsche Bank, HeidelbergCement, Puma, Siemens Energy, Hannover Rueck, Commerzbank and BASF gained 2 to 4.3%.
Hannover Rueck shares moved higher after the reinsurer raised its full-year 2024 profit target to €2.3bn.
Daimler Truck Holding, Fresenius and Siemens Healthineers closed down 0.5 to 1.1%.
In the French market, Saint Gobain, Schneider Electric, Michelin, Legrand, Safran, Unibail Rodamco and Airbus Group climbed 2 to 4%.
Stellantis, BNP Paribas, Essilor, Kering, Vinci, Veolia, Eurofins Scientific, Air Liquide, Credit Agricole, Societe Genarale, Thales, Capgemini, AXA and Engie gained 1 to 1.8%.
STMicroElectronics closed down 1.7%. Carrefour, Vivendi, ArcelorMittal and Hermes International also closed weak.
U.S. Dollar Advances Ahead Of Key Inflation Data
(RTTNews) - The U.S. dollar climbed against its major counterparts in the New York session on Monday, as investors await upcoming U.S. inflation data and speeches by Federal Reserve officials for additional clues to the Fed's rate trajectory.
U.S. reports on consumer and producer prices, retail sales and industrial production due later in the week may provide further insights into the health of the world's largest economy as the Presidency and Senate falls into Republican hands, presenting a clear path for Trump to enact any major policy changes.
Trump won a second term as president on a platform of steep import taxes, including tariffs as high as 60 percent on China. The focus is now on how quickly Trump will implement his fiscal and protectionist trade policies.
Federal Reserve Bank of Minneapolis President Neel Kashkari indicated at the weekend that tariffs would hurt long-term inflation if global trade partners were to strike back.
According to CME Fedwatch, traders currently bet on a 65.9 percent chance for a 25-basis point rate cut in December, and a 34.1 percent chance that rates will remain unchanged.
The greenback climbed to near a 7-month high of 1.0628 against the euro and a 5-day high of 1.2855 against the pound, off its early lows of 1.0727 and 1.2925, respectively. The next possible resistance for the currency is seen around 1.06 against the euro and 1.26 against the pound.
The greenback advanced to a 4-day high of 153.94 against the yen and a 3-1/2-month high of 0.8808 against the franc, from its early lows of 152.61 and 0.8751, respectively. The currency is poised to challenge resistance around 156.00 against the yen and 0.89 against the franc.
The greenback touched 1.3950 against the loonie, setting a 5-day high. If the currency rises further, it is likely to test resistance around the 1.40 region.
The greenback recovered to 0.6565 against the aussie and 0.5952 against the kiwi, reversing from its early lows of 0.6598 and 0.5977, respectively. The currency is likely to locate resistance around 0.64 against the aussie and 0.58 against the kiwi.
Swiss Market Ends On Bright Note
(RTTNews) - The Switzerland market ended on a bright note on Monday after staying firm right through the day's session, amid optimism about strong corporate performance and expectations of further monetary easing by global central banks.
The benchmark SMI, which climbed to 11,952.06 around mid morning, ended the day with a gain of 105.07 points or 0.89% at 11,902.79.
Swiss Re climbed 3.55% after UBS raised the stock's rating to "buy" and the target price to 136 Swiss francs from 106 francs.
Sika, Partners Group, UBS Group, Holcim and Givaudan gained 1.5 to 2.1%.
Zurich Insurance Group, ABB and Sandoz Group ended higher by 1.2 to 1.35%. Alcon, Roche Holding, Swatch Group, Straumann Holding, Richemon, VAT Group, SGS, Sonova, Adecco and Lonza Group also posted strong gains.
Kuehne + Nagel closed down 1.1%. SIG Group lost 0.7% and Julius Baer edged down marginally.
Sensex, Nifty Set For Muted Open
(RTTNews) - Indian shares are set for a muted open Tuesday despite firm cues from overseas markets and a sharp fall in oil prices in the U.S. trading session overnight.
FMCG stocks could be in focus after Britannia Industries reported a 9 percent fall in Q2 consolidated net profit.
Earnings from NMDC, Shree Cement, Hindustan Copper, Bank of India, Hindalco and ONGC will also remain on investors' radar.
Benchmark indexes Sensex and Nifty fluctuated before ending narrowly mixed on Monday.
The rupee settled at 84.38 against the dollar after falling to a new record low of 84.39 earlier in the day amid FII selloff.
Asian markets traded mixed this morning as investors seek clarity on U.S. President-elect Donald Trump's policy proposals and await key U.S. inflation reading this week for directional cues.
The U.S. dollar held close to a four-month peak versus major peers while oil held the biggest drop in two weeks on China demand concerns.
Gold was little changed after falling more than 2 percent on Monday, weighed down by the dollar's continued rise.
U.S. stocks extended last week's rally overnight amid optimism on proposed tax cuts and deregulation during Trump's second term.
The Dow and the SP 500 rose 0.7 percent and 0.1 percent, respectively to reach new record highs while the tech-heavy Nasdaq Composite ended little changed.
European stocks closed on a firm note Monday ahead of a busy week of top-tier economic data.
The pan European STOXX 600 climbed 1.1 percent, logging its biggest single-day gain in six weeks as defense stocks surged on expectations of increased military spending in the U.S. and other countries under a Trump U.S. presidency.
The German DAX and France's CAC 40 both rallied around 1.2 percent while the U.K.'s FTSE 100 gained 0.7 percent.
Hong Kong Stock Market Tipped To Open In The Green
(RTTNews) - The Hong Kong stock market has moved lower in two straight sessions, slumping more than 525 points or 2.6 percent along the way. The Hang Seng Index now sits just above the 20,425-point plateau although it may halt its slide on Tuesday.
The global forecast for the Asian markets is positive, mostly on inertia following the U.S. election. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The Hang Seng finished sharply lower on Monday following losses among the financials, properties and oil companies, while the technology stocks were mixed.
For the day, the index tumbled 301.26 points or 1.45 percent to finish at 20,426.93 after trading between 20,151.38 and 20,505.01.
Among the actives, Alibaba Group rose 0.11 percent, while Alibaba Health Info added 0.93 percent, ANTA Sports shed 1.40 percent, China Life Insurance plummeted 4.02 percent, China Mengniu Dairy lost 1.30 percent, China Resources Land stumbled 2.24 percent, CITIC dropped 1.50 percent, CNOOC surrendered 2.59 percent, Galaxy Entertainment slid 0.96 percent, Haier Smart Home fell 1.07 percent, Hang Lung Properties retreated 2.06 percent, Hong Kong China Gas gained 0.33 percent, Industrial and Commercial Bank of China declined 2.05 percent, JD.com tumbled 2.32 percent, Lenovo jumped 1.93 percent, Li Auto was down 0.47 percent, Li Ning weakened 1.96 percent, Meituan tanked 3.23 percent, New World Development skidded 1.51 percent, Nongfu Spring plunged 3.86 percent, Techtronic Industries sank 1.46 percent, Xiaomi Corporation rallied 3.53 percent, WuXi Biologics slumped 1.75 percent and CSPC Pharmaceutical, Henderson Land and CLP Holdings were unchanged.
The lead from Wall Street is cautiously optimistic as the major averages opened higher on Monday and spent most of the day hugging line before finishing with mild gains that were all fresh record closing highs.
The Dow jumped 304.14 points or 0.69 percent to finish at 44,294.13, while the NASDAQ rose 11.99 points or 0.06 percent to close at 19,298.76 and the SP 500 added 5.81 points or 0.10 percent to end at 6,001.35.
Investors remained optimistic that Donald Trump's policies such as tax reductions and deregulation will help boost corporate earnings.
Oil futures closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.
Japanese Market Significantly Higher
(RTTNews) - The Japanese stock market is significantly higher on Tuesday, adding the gains in the previous two sessions, with the Nikkei 225 moving above the 39,800 level, following the broadly positive cues from Wall Street overnight, with gains in index heavyweights, exporters and financial stocks partially offset by weakness in technology stocks.
The benchmark Nikkei 225 Index is up 281.74 points or 0.71 percent at 39,815.06, after touching a high of 39,866.72 earlier. Japanese shares ended slightly higher on Monday.
Market heavyweight SoftBank Group is gaining almost 1 percent and Uniqlo operator Fast Retailing is adding almost 2 percent. Among automakers, Honda is gaining 1.5 percent and Toyota is adding more than 3 percent.
In the tech space, Advantest is losing more than 2 percent, Screen Holdings is declining almost 3 percent and Tokyo Electron is slipping almost 2 percent.
In the banking sector, Mitsubishi UFJ Financial and Mizuho Financial are gaining more than 2 percent each, while Sumitomo Mitsui Financial is adding almost 2 percent.
The major exporters are mostly higher. Panasonic is gaining almost 3 percent, Mitsubishi Electric is edging up 0.1 percent and Canon is adding almost 2 percent, while Sony is edging down 0.4 percent.
Among the other major gainers, Renesas Electronics is soaring almost 10 percent, Furukawa Electric is surging almost 8 percent and Recruit Holdings is advancing more than 5 percent, while Mitsubishi Motors, Nissan Motor, Suzuki Motor and Bridgestone are gaining almost 5 percent each. Tokyo Tatemono, Rakuten Group and TDK are adding more than 4 percent each, while Nissan Chemical, Isuzu Motors and Japan Steel Works are up almost 4 percent each.
Conversely, Dowa Holdings is plunging almost 7 percent, DeNA is losing more than 5 percent, Chiba Bank and Lasertec are declining almost 3 percent each.
In economic news, the M2 money stock was up 1.2 percent on year in October, the Bank of Japan said on Tuesday - coming in at 1,249.8 trillion yen. That was shy of expectations for an increase of 1.5 percent but was unchanged from the September reading following a downward revision from 1.3 percent. The M3 money stock was up an annual 0.7 percent for the second straight month, while the L money stock increased 3.2 percent on year for the third straight month.
In the currency market, the U.S. dollar is trading in the lower 153 yen-range on Tuesday.
On Wall Street, stocks closed on a firm note on Monday, lifting the Dow and the SP 500 to new record highs, even as the Nasdaq settled flat with technology stocks turning in a subdued performance.
The Dow settled at 44,293.13, up 304.14 points or 0.69 percent from previous close, the SP 500 closed up 5.81 points or 0.1 percent at 6,001.35 and the Nasdaq eked out a small gain of 11.99 points or 0.06 percent, settling at 19,298.76.
The major European markets also moved to the upside on the day. The U.K.'s FTSE 100 gained 0.65 percent, Germany's DAX and France's CAC 40 ended higher by 1.21 percent and 1.2 percent, respectively,
Crude oil closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.
Sensex, Nifty Tumble On Earnings Disappointment
(RTTNews) - Indian shares tumbled on Tuesday amid lingering concerns over FII outflows and disappointment stemming from a weak earnings season.
Sluggish cues from Asia and Europe also dented sentiment as traders awaited clarity on U.S. President-elect Donald Trump's policy proposals on global geopolitics, U.S.-China relations, NATO, immigration, and economic policies.
The U.S. dollar held near a four-month high as the narrative shifted from risk-off hedging to an 'America First' stance' under Trump's presidency.
It is feared that Trump's proposed policies on tariffs could fuel inflation and keep U.S. interest rates higher for longer.
The benchmark SP/BSE Sensex fell 820.97 points, or 1.03 percent, to 78,675.18, with rate-sensitive auto, banking and financial services stocks facing heavy selling pressure.
The broader NSE Nifty index closed at 23,883.45, down 257.85 points, or 1.07 percent, from its previous close.
Britannia Industries plummeted 7.3 percent after the FMCG firm reported a 9 percent fall in Q2 consolidated net profit.
HDFC Bank, Asian Paints, NTPC and BEL all fell around 3 percent.
Thai Shares Due For Support On Tuesday
(RTTNews) - The Thai stock market has moved lower in consecutive trading days, slumping more than a dozen points or 0.8 percent along the way. The Stock Exchange of Thailand now sits just above the 1,455-point plateau and it's expected to open to the upside on Tuesday.
The global forecast for the Asian markets is positive, mostly on inertia following the U.S. election. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The SET finished modestly lower on Monday following losses from the food, consumer, finance, industrial, property, resource and service sectors.
For the day, the index shed 8.22 points or 0.56 percent to finish at 1,456.47 after trading between 1,452.81 and 1,465.29. Volume was 14.504 billion shares worth 39.777 billion baht. There were 381 decliners and 144 gainers, with 141 stocks finishing unchanged.
Among the actives, Advanced Info gained 0.71 percent, while Thailand Airport dipped 0.41 percent, Asset World surrendered 2.76 percent, Bangkok Bank retreated 1.35 percent, B. Grimm slumped 0.94 percent, BTS Group was down 1.61 percent, CP All Public slid 1.17 percent, Charoen Pokphand Foods dropped 0.82 percent, Energy Absolute tumbled 2.94 percent, Gulf weakened 1.54 percent, Kasikornbank sank 0.67 percent, Krung Thai Bank skidded 0.95 percent, Krung Thai Card climbed 1.08 percent, PTT lost 0.75 percent, PTT Exploration and Production fell 1.18 percent, PTT Global Chemical plunged 4.63 percent, SCG Packaging tanked 2.98 percent, Siam Commercial Bank shed 0.87 percent, Siam Concrete added 0.51 percent, Thai Oil plummeted 2,34 percent, TTB Bank stumbled 1.68 percent and True Corporation, Banpu, PTT Oil Retail, Bangkok Dusit Medical and Bangkok Expressway were unchanged.
The lead from Wall Street is cautiously optimistic as the major averages opened higher on Monday and spent most of the day hugging line before finishing with mild gains that were all fresh record closing highs.
The Dow jumped 304.14 points or 0.69 percent to finish at 44,294.13, while the NASDAQ rose 11.99 points or 0.06 percent to close at 19,298.76 and the SP 500 added 5.81 points or 0.10 percent to end at 6,001.35.
Investors remained optimistic that Donald Trump's policies such as tax reductions and deregulation will help boost corporate earnings.
Oil futures closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.
China Bourse May Extend Monday's Gains
(RTTNews) - The China stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had spiked more than 110 points or 3.3 percent. The Shanghai Composite now sits just above the 3,470-point plateau and it may open higher again on Tuesday.
The global forecast for the Asian markets is positive, mostly on inertia following the U.S. election. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The SCI finished modestly higher as weakness from the financials and properties limited the upside of the broader market.
For the day, the index gained 17.77 points or 0.51 percent to finish at 3,470.07 after trading between 3,416.73 and 3,471.12. The Shenzhen Composite Index jumped 38.89 points or 1.86 percent to end at 2,133.57.
Among the actives, Industrial and Commercial Bank of China skidded 1.15 percent, while Bank of China dropped 1.03 percent, China Construction Bank slumped 1.25 percent, China Merchants Bank retreated 1.21 percent, Agricultural Bank of China declined 1.47 percent, China Life Insurance plunged 3.19 percent, Jiangxi Copper shed 0.47 percent, Aluminum Corp of China (Chalco) weakened 1.29 percent, Yankuang Energy stumbled 1.64 percent, PetroChina tanked 1.94 percent, China Petroleum and Chemical (Sinopec) sank 1.58 percent, Huaneng Power added 0.41 percent, China Shenhua Energy surrendered 2.02 percent, Poly Developments and Gemdale both plummeted 2.42 percent and China Vanke was down 2.21 percent.
The lead from Wall Street is cautiously optimistic as the major averages opened higher on Monday and spent most of the day hugging line before finishing with mild gains that were all fresh record closing highs.
The Dow jumped 304.14 points or 0.69 percent to finish at 44,294.13, while the NASDAQ rose 11.99 points or 0.06 percent to close at 19,298.76 and the SP 500 added 5.81 points or 0.10 percent to end at 6,001.35.
Investors remained optimistic that Donald Trump's policies such as tax reductions and deregulation will help boost corporate earnings.
Oil futures closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.
Asian Markets Traded Mixed
(RTTNews) - Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as the markets are nervous as they seek clarity on U.S. President-elect Donald Trump's policy proposals, including increased tariffs, and await key U.S. inflation reading later in the week for directional cues. Asian markets closed mostly lower on Monday.
Though the markets are optimistic that Trump's policies such as tax reductions and deregulation will help boost corporate earnings, they see an uptick in inflation amid proposed increase in tariffs that will complicate the US Fed's interest-rate plans.
Extending the losses in the previous session, the Australian stock market is trading modestly lower on Tuesday, despite the broadly positive cues from Wall Street overnight. The benchmark SP/ASX 200 is falling to near the 8,200 level, with weakness in mining stocks amid tumbling metal prices.
The benchmark SP/ASX 200 Index is losing 32.10 points or 0.39 percent to 8,234.10, after hitting a low of 8,215.80 earlier. The broader All Ordinaries Index is down 28.10 points or 0.33 percent to 8,490.80. Australian stocks closed modestly lower on Monday.
Among the major miners, BHP Group is losing almost 2 percent, Rio Tinto is declining almost 3 percent and Fortescue Metals is declining more than 1 percent, while Mineral Resources is edging up 0.4 percent.
Oil stocks are mostly higher. Origin Energy is gaining almost 1 percent, while Woodside Energy, Beach energy and Santos are edging up 0.4 to 0.1 percent each.
Among tech stocks, Appen, Zip, Xero and WiseTech Global are edging up 0.2 to 0.4 percent each, while Afterpay owner Block is soaring almost 11 percent, mirroring gains in the stock's US-listed shares after a bullish analyst note from Piper Sandler.
Gold miners are mostly higher. Gold Road Resources and Evolution Mining are losing almost 5 percent each, while Resolute Mining and Northern Star resources are declining more than 3 percent each. Newmont is plunging more than 5 percent.
Among the big four banks, Commonwealth Bank is edging up 0.1 percent and ANZ Banking is gaining almost 1 percent, while Westpac is edging down 0.4 percent and National Australia Bank is losing more than 3 percent.
In other news, shares in Paladin Energy are tumbling almost 25 percent after the uranium producer lowered its FY25 guidance, citing operational challenges and delays in ramping up production.
In the currency market, the Aussie dollar is trading at $0.656 on Tuesday.
The Japanese stock market is notably higher on Tuesday, adding the gains in the previous two sessions, with the Nikkei 225 moving above the 39,800 level, following the broadly positive cues from Wall Street overnight, with gains in index heavyweights, exporters and financial stocks partially offset by weakness in technology stocks.
The benchmark Nikkei 225 Index closed the morning session at 39,748.13, up 214.81 points or 0.54 percent, after touching a high of 39,866.72 earlier. Japanese shares ended slightly higher on Monday.
Market heavyweight SoftBank Group is gaining almost 1 percent and Uniqlo operator Fast Retailing is adding almost 2 percent. Among automakers, Honda is gaining 1.5 percent and Toyota is adding more than 3 percent.
In the tech space, Advantest is losing more than 2 percent, Screen Holdings is declining almost 3 percent and Tokyo Electron is slipping almost 2 percent.
In the banking sector, Mitsubishi UFJ Financial and Mizuho Financial are gaining more than 2 percent each, while Sumitomo Mitsui Financial is adding almost 2 percent.
The major exporters are mostly higher. Panasonic is gaining almost 3 percent, Mitsubishi Electric is edging up 0.1 percent and Canon is adding almost 2 percent, while Sony is edging down 0.4 percent.
Among the other major gainers, Renesas Electronics is soaring almost 10 percent, Furukawa Electric is surging almost 8 percent and Recruit Holdings is advancing more than 5 percent, while Mitsubishi Motors, Nissan Motor, Suzuki Motor and Bridgestone are gaining almost 5 percent each. Tokyo Tatemono, Rakuten Group and TDK are adding more than 4 percent each, while Nissan Chemical, Isuzu Motors and Japan Steel Works are up almost 4 percent each.
Conversely, Dowa Holdings is plunging almost 7 percent, DeNA is losing more than 5 percent, Chiba Bank and Lasertec are declining almost 3 percent each.
In economic news, the M2 money stock was up 1.2 percent on year in October, the Bank of Japan said on Tuesday - coming in at 1,249.8 trillion yen. That was shy of expectations for an increase of 1.5 percent but was unchanged from the September reading following a downward revision from 1.3 percent. The M3 money stock was up an annual 0.7 percent for the second straight month, while the L money stock increased 3.2 percent on year for the third straight month.
In the currency market, the U.S. dollar is trading in the higher 153 yen-range on Tuesday.
Elsewhere in Asia, Taiwan is down 1.7 percent, while, Hong Kong, Singapore and South Korea are lower by between 0.5 and 0.7 percent each. New Zealand, China, Malaysia and Indonesia Korea are higher by between 0.1 and 0.3 percent each.
On Wall Street, stocks closed on a firm note on Monday, lifting the Dow and the SP 500 to new record highs, even as the Nasdaq settled flat with technology stocks turning in a subdued performance.
The Dow settled at 44,293.13, up 304.14 points or 0.69 percent from previous close, the SP 500 closed up 5.81 points or 0.1 percent at 6,001.35 and the Nasdaq eked out a small gain of 11.99 points or 0.06 percent, settling at 19,298.76.
The major European markets also moved to the upside on the day. The U.K.'s FTSE 100 gained 0.65 percent, Germany's DAX and France's CAC 40 ended higher by 1.21 percent and 1.2 percent, respectively,
Crude oil closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.
Japan Money Stock Data Due On Tuesday
(RTTNews) - Japan will on Tuesday see October numbers for its M2 money stock, highlighting a light day for Asia-Pacific economic activity. M2 is expected to rise 1.5 percent on year, up from 1.3 percent in September.
Australia will see October results for the surveys of business confidence and conditions from National Australia Bank, as well as Westpac's November index for consumer sentiment. In September, business conditions were as +7 and confidence was at -2; in October, the Westpac index jumped 6.2 percent.
Indonesia will release September data for retail sales; in August, sales were up 5.8 percent on year.
Australian Market Notably Lower
(RTTNews) - Extending the losses in the previous session, the Australian stock market is trading notably lower on Tuesday, despite the broadly positive cues from Wall Street overnight. The benchmark SP/ASX 200 is falling to near the 8,200 level, with weakness in mining stocks amid tumbling metal prices.
The benchmark SP/ASX 200 Index is losing 42.10 points or 0.51 percent to 8,224.10, after hitting a low of 8,215.80 earlier. The broader All Ordinaries Index is down 39.60 points or 0.47 percent to 8,479.30. Australian stocks closed modestly lower on Monday.
Among the major miners, BHP Group is losing almost 2 percent, Rio Tinto is declining almost 3 percent and Fortescue Metals is declining more than 1 percent, while Mineral Resources is edging up 0.4 percent.
Oil stocks are mostly higher. Origin Energy is gaining almost 1 percent, while Woodside Energy, Beach energy and Santos are edging up 0.4 to 0.1 percent each.
Among tech stocks, Appen, Zip, Xero and WiseTech Global are edging up 0.2 to 0.4 percent each, while Afterpay owner Block is soaring almost 11 percent, mirroring gains in the stock's US-listed shares after a bullish analyst note from Piper Sandler.
Gold miners are mostly higher. Gold Road Resources and Evolution Mining are losing almost 5 percent each, while Resolute Mining and Northern Star resources are declining more than 3 percent each. Newmont is plunging more than 5 percent.
Among the big four banks, Commonwealth Bank is edging up 0.1 percent and ANZ Banking is gaining almost 1 percent, while Westpac is edging down 0.4 percent and National Australia Bank is losing more than 3 percent.
In other news, shares in Paladin Energy are tumbling almost 25 percent after the uranium producer lowered its FY25 guidance, citing operational challenges and delays in ramping up production.
In the currency market, the Aussie dollar is trading at $0.657 on Tuesday.
On Wall Street, stocks closed on a firm note on Monday, lifting the Dow and the SP 500 to new record highs, even as the Nasdaq settled flat with technology stocks turning in a subdued performance.
The Dow settled at 44,293.13, up 304.14 points or 0.69 percent from previous close, the SP 500 closed up 5.81 points or 0.1 percent at 6,001.35 and the Nasdaq eked out a small gain of 11.99 points or 0.06 percent, settling at 19,298.76.
The major European markets also moved to the upside on the day. The U.K.'s FTSE 100 gained 0.65 percent, Germany's DAX and France's CAC 40 ended higher by 1.21 percent and 1.2 percent, respectively,
Crude oil closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.
Indonesia Shares Expected To Remain Rangebound
(RTTNews) - The Indonesia stock market headed south again on Monday, one session after ending the two-day slide in which it had plunged almost 250 points or 3.3 percent. The Jakarta Composite Index now rests just beneath the 7,270-point plateau although it's expected to find renewed support on Tuesday.
The global forecast for the Asian markets is positive, mostly on inertia following the U.S. election. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The JCI finished modestly lower on Monday following losses from the telecoms and mixed performances from the financial shares, cement stocks and resource companies.
For the day, the index shed 20.73 points or 0.28 percent to finish at 7,266.46.
Among the actives, Bank Mandiri collected 0.40 percent, while Bank Negara Indonesia and Astra International both rose 0.20 percent, Bank Central Asia fell 0.25 percent, Bank Rakyat Indonesia retreated 1.33 percent, Indosat Ooredoo Hutchison tumbled 1.83 percent, Indocement rallied 2.20 percent, Semen Indonesia tanked 2.20 percent, Indofood Sukses Makmur strengthened 1.30 percent, United Tractors plunged 4.92 percent, Energi Mega Persada surged 9.09 percent, Astra Agro Lestari climbed 1.13 percent, Aneka Tambang stumbled 3.47 percent, Jasa Marga declined 1.67 percent, Vale Indonesia slumped 3.14 percent, Timah plummeted 4.05 percent, Bumi Resources skyrocketed 17.32 percent and Bank CIMB Niaga, Bank Danamon Indonesia and Bank Maybank Indonesia were unchanged.
The lead from Wall Street is cautiously optimistic as the major averages opened higher on Monday and spent most of the day hugging line before finishing with mild gains that were all fresh record closing highs.
The Dow jumped 304.14 points or 0.69 percent to finish at 44,294.13, while the NASDAQ rose 11.99 points or 0.06 percent to close at 19,298.76 and the SP 500 added 5.81 points or 0.10 percent to end at 6,001.35.
Investors remained optimistic that Donald Trump's policies such as tax reductions and deregulation will help boost corporate earnings.
Oil futures closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.
Australian Dollar Falls Against Majors
(RTTNews) - The Australian dollar weakened against other major currencies in the Asian session on Tuesday.
The Australian dollar fell to a 6-day low of 0.6550 against the U.S. dollar, from yesterday's closing value of 0.6574.
Against the yen and the euro, the aussie slipped to 100.56 and 1.6248 from Monday's closing quotes of 101.05 and 1.6201, respectively.
Against the Canada and the New Zealand dollars, the aussie edged down to 0.9135 and 1.0997 from yesterday's closing quotes of 0.9154 and 1.1021, respectively.
If the aussie extends its downtrend, it is likely to find support around 0.63 against the greenback, 99.00 against the yen, 1.66 against the euro, 0.90 against the loonie and 1.08 against the kiwi.
European Economic News Preview: UK Unemployment Data Due
(RTTNews) - Unemployment data from the UK and economic confidence from Germany are the top economic news due on Tuesday.
At 2.00 am ET, the Office for National Statistics releases UK labor market data. The jobless rate is forecast to edge up to 4.1 percent in the three months to September from 4.0 percent in the preceding period.
In the meantime, Destatis is scheduled to issue Germany's final inflation data for October. The flash estimate showed that consumer price inflation rose to 2.0 percent in October from 1.6 percent in September.
Also, consumer prices from Romania and retail sales and current account figures from Turkey are due.
At 2.30 am ET, consumer price data is due from Hungary. Inflation is forecast to rise to 3.5 percent in October from 3.0 percent in September.
At 5.00 am ET, Germany's ZEW economic confidence survey data is due. The economic confidence index is forecast to edge up to 13.2 in November from 13.1 in the previous month.
Sensex, Nifty Struggle For Direction In Early Trade
(RTTNews) - Indian shares struggled for direction in early trade on Tuesday as investors awaited clarity on U.S. President-elect Donald Trump's policy proposals and looked ahead to the release of key U.S. inflation readings this week for additional clues to the Fed's rate trajectory.
The benchmark SP/BSE Sensex was down 25 points at 79,471 while the broader NSE Nifty index was down 5 points at 24,136.
Hindalco rose about 1 percent after Q2 profit jumped 78 percent year-on-year.
NMDC lost 4 percent despite the company announcing a 2:1 bonus issue.
ONGC edged down slightly on reporting a 17 percent rise in quarterly profit.
Shree Cement dropped 1 percent after quarterly profit slumped 81 percent.
Reliance Industries was little changed after the Supreme Court dismissed SEBI's appeals against penalties on the company and its promoters.
Britannia Industries declined 1.4 percent after the FMCG firm reported a 9 percent fall in Q2 consolidated net profit.
U.S. Dollar Rises Against Majors
(RTTNews) - The U.S. dollar strengthened against other major currencies in the Asian session on Tuesday.
The U.S. dollar rose to nearly a 3-1/2-month high of 0.8818 against the Swiss franc, a 6-day high of 1.2837 against the pound and a 5-day high of 154.06 against the yen, from yesterday's closing quotes of 0.8805, 1.2869 and 153.71, respectively.
Against the euro and the Canadian dollar, the greenback advanced to 1.0638 and 1.3949 from Monday's closing quotes of 1.0654 and 1.3924, respectively.
If the greenback extends its uptrend, it is likely to find resistance around 0.89 against the franc, 1.26 against the pound, 156.00 against the yen, 1.05 against the euro and 1.38 against the loonie.
