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Swiss Market Ends On Firm Note
(RTTNews) - The Switzerland market, which very nearly slipped into the red around mid afternoon on Thursday, after a good spell in positive territory, recovered well to end the day's session on a firm note.
The benchmark SMI closed up 65.79 points or 0.57% at 11,709.80, after having climbed to 11,723.90 around mid morning.
Julius Baer rallied about 2.1%. Logitech International and UBS Group closed up 1.54% and 1.48%, respectively. VAT Group, Swiss Re, Partners Group and ABB gained 0.9 to 1.1%.
Sika, Swisscom, Novartis, Lonza Group, Zurich Insurance Group, Roche, Swiss Life Holding and Lindt Spruengli gained 0.4 to 0.75%.
Swatch Group and Sonova both lost nearly 1%. Sandoz Group ended down 0.76% and Richemont closed down 0.57%.
Euro Falls Against Majors
(RTTNews) - The euro weakened against other major currencies in the European session on Tuesday.
The euro fell to 4-day low of 1.0524 against the U.S. dollar and 0.8333 against the pound, from early highs of 1.0601 and 0.8362, respectively.
Against the Swiss franc and the yen, the euro slid to nearly a 3-1/2-month low of 0.9304 and a 1-1/2-month low of 161.50 from early highs of 0.9362 and 163.81, respectively.
Against Australia, the New Zealand and the Canadian dollars, the euro slipped to a 1-week low of 1.6217, a 6-day low of 1.7906 and a 5-day low of 1.4766 from early highs of 1.6300, 1.8016 and 1.4858, respectively.
If the euro extends its downtrend, it is likely to find support around 1.04 against the greenback, 0.81 against the pound, 0.92 against the franc, 160.00 against the yen, 1.60 against the aussie, 1.76 against the kiwi and 1.46 against the loonie.
European Stocks Close Higher
(RTTNews) - European stocks closed higher on Thursday although the volume of business remained thin in most of the markets in the region due to Thanksgiving holiday in the U.S. Investors digested Germany's consumer price inflation data and tracked corporate news for direction.
The pan European Stoxx 600 gained 0.46%. The U.K.'s FTSE 100 edged up 0.08%, Germany's DAX climbed 0.85% and France's CAC 40 cloed up 0.51%, while Switzerland's SMI ended higher by 0.57%.
Among other markets in Europe, Austria, Denmark, Finland, Ireland, Netherlands, Portugal, Russia, Spain and Sweden closed higher.
Belgium and Iceland edged up marginally, while Greece, Norway, Poland and Turkiye ended flat.
In the UK market, Spirax Group climbed about 3.75%. Sainsbury (J), Admiral Group, EasyJet, Entain, Barclays Group and Tesco gained 2 to 3.1%.
IAG gained more than 2% as the insurance giant agreed to buy 90% of Royal Automobile Club of Queensland's (RACQ's) existing insurance underwriting business. Direct Line Insurance soared more than 40% after rejecting Aviva's massive takeover bid.
SSE, Centrica, JD Sports Fashion, Natwest Group, RightMove, Weir Group, Auto Trader Group, Pershing Square Holdings, Rolls Royce Holdings and Legal General advanced 1 to 2%.
Vistry Group, Land Securities, Imperial Brands, Aviva, Frasers Group, Berkeley Group Holdings, Reckitt Benckiser, Persimmon, Endeavour Mining and Croda International closed notably lower.
In the German market, Siemens Energy gained about 3.1%, while RWE, Daimler Truck Holding and Deutsche Bank gained 2 to 2.7%.
HeidelbergCement moved higher after it struck a deal to buy U.S. company Giant Cement Holding and its subsidiaries for $600 million.
E.ON, Commerzbank, Bayer, Siemens and Sartorius also closed with strong gains. Volkswagen gained marginally after the German car giant said that it would sell its factory and test track in Xinjiang for "economic reasons."
Fresenius Medical Care ended down nearly 2.5%. Qiagen, Merck, Puma and Beiersdorf also closed weak.
In the French market, Airbus gained more than 4%. Teleperformance, Edenred, Accor, Veolia, ArcelorMittal, Thales, Vinci, Societe Generale, Stellantis, Engie, Renault and BNP Paribas closed up 1 to 3%.
Vivendi, L'Oreal, Essilor, Kering and LVMH ended with sharp to moderate losses.
On the economic front, Germany's consumer price inflation increased further in November to the highest level in four months, provisional data from Destatis showed.
The consumer price index registered an annual increase of 2.2% in November, following a 2% rise in October. Economists had expected an increase of 2.3%.
The slowdown in the decline of energy prices had an upward effect on inflation. The yearly decrease in energy costs softened to 3.7% from 5.5%. Meanwhile, food prices rose at a slower pace of 1.8% versus 2.3% in October. On a monthly basis, consumer prices dropped 0.2% in November, as expected.
Eurozone lending to the private sector increased in October at a steady pace, data published by the European Central Bank showed. Adjusted loans to the private sector grew 1.6% year-on-year in October, unchanged from the previous month.
Antipodean Currencies Rise As Asian Markets Trade Mostly Higher
(RTTNews) - Antipodean currencies such as the Australian and the New Zealand dollars strengthened against their major currencies in the Asian session on Tuesday, as traders picked up some stocks at a bargain after the recent weakness in the markets amid concerns about the outlook for interest rates. Strong gains in mining and energy stocks also boosted the markets amid climbing commodity prices.
Crude oil prices climbed higher on concerns about likely shortage in supplies due to an escalation in Russia - Ukraine war, while a weaker dollar also contributed to the rise in oil prices. West Texas Intermediate Crude oil futures for December closed higher by $2.14 or 3.2 percent at 69.16 a barrel.
In economic news, the Reserve Bank of Australia will on Tuesday release the minutes from its November 5 monetary policy meeting. At the meeting, the RBA maintained its benchmark interest rate at a 13-year high of 4.35 percent for the eighth straight session, saying that underlying inflation remains too high. The bank had previously changed its rate in November 2023, when it was lifted by 25 basis points to the highest level since late 2011.
In the Asian trading today, the Australian dollar rose to 6-day highs of 0.6525 against the U.S. dollar and 1.6248 against the euro, from yesterday's closing quotes of 0.6507 and 1.6283, respectively. The aussie may test resistance near 0.66 against the greenback and 1.61 against the euro.
The aussie advanced to a 1-week high of 0.9140 against the Canadian dollar, from Monday's closing value of 0.9119. If the aussie extends its uptrend, it is likely to find resistance around the 0.92 region.
Against the yen, the aussie edged up to 100.63 from a recent low of 100.16. On the upside, 103.00 is seen as the next resistance level for the aussie.
The aussie advanced to 1.1060 against the NZ dollar, from yesterday's closing value of 1.1038. The next possible upside target for the aussie is seen around the 1.11 region.
The NZ dollar rose to a 6-day high of 0.5901 against the U.S. dollar, from a recent low of 0.5878. The kiwi is likely to find resistance around the 0.60 area.
Against the yen and the euro, the edged up to 91.00 and 1.7963 from recent lows of 90.62 and 1.8016, respectively. If the kiwi extends its uptrend, it is likely to find resistance around 92.00 against the yen and 1.78 against the euro.
Meanwhile, the safe-haven currency or the U.S. dollar weakened against other major currencies in the Asian session today, as Asian stock markets traded higher.
The U.S. dollar fell to a 4-day low of 1.2689 against the pound, from a recent high of 1.2666. On the downside, 1.29 is seen as the next support level for the greenback.
Against the euro and the Swiss franc, the greenback edged down to 1.061 and 0.8827 from recent highs of 1.0583 and 0.8840, respectively. If the greenback extends its downtrend, it is likely to find support around 1.08 against the euro and 0.86 against the franc.
Against the yen and the Canadian dollar, the greenback dropped to 153.95 and 1.4009 from recent highs of 154.62 and 1.4030, respectively. The next possible downside target for the greenback is seen around 151.00 against the yen and 1.38 against the loonie.
Looking ahead, Eurozone current account data for September, CPI data for September and flash labor cost index for the third quarter are due to be released in the European session.
In the New York session, Canada CPI data for October, U.S. building permits and housing starts for October and U.S. Redbook reports are slated for release.
Sensex, Nifty Snap Losing Streak, Close Modestly Higher
(RTTNews) - Indian stocks closed on a positive note on Tuesday despite giving up a substantial portion of intraday gains. Stocks moved higher thanks to positive global cues, and on bargain hunting after recent losses.
However, concerns about geopolitical tensions, uncertainty about U.S. interest-rate trajectory and a lack of significant triggers from the domestic front rendered the mood cautious and prompted investors to lighten commitments at higher levels.
Automobile, pharma, realty, technology and media stocks were among the prominent gainers.
The BSE benchmark Sensex, which surged to 78,451.65 around noon, gaining more than 1,100 points in the process, eventually ended the day's session with a gain of 239.37 points or 0.31% at 77,578.38, snapping a four-day losing streak.
The National Stock Exchange's Nifty50 settled with a gain of 64.70 points or 0.28% at 23,518.50, way down from the day's high of 23,780.65.
Mahindra Mahindra gained more than 3.5%. Tech Mahindra and HDFC Bank both closed higher by about 2.25%. Sun Pharmacutical Industries, Tata Motors, Titan and UltraTech Cement gained 1.4 to 1.6%.
Power Grid Corporation, Infosys, Adani Ports, Axis Bank and Tata Consultancy Services posted moderate gains.
Dr Reddy's Laboratories, Eicher Motors, Wipro, Trent and ONGC also closed higher.
Reliance Industries,State Bank of India, Tata Steel, Bajaj Finserve, Maruti Suzuki and Larsen Toubro lost 1 to 1.6%. Tata Consumer Products and Shriram Finance also ended weak.
The market breadth was positive till the end. On BSE, 2,362 stocks closed higher, and 1,601 stocks ended weak, while 96 stocks closed flat.
Japanese Market Notably Higher
(RTTNews) - The Japanese stock market is trading notably higher on Tuesday, reversing the losses in the previous session, with the Nikkei 225 moving above the 38,400 level, following the mixed cues from Wall Street overnight, with gains across most sectors led by automakers, exporters and financial stocks.
The benchmark Nikkei 225 Index is up 198.52 points or 0.52 percent at 38,419.37, after touching a high of 38,511.99 earlier. Japanese shares ended significantly lower on Monday.
Market heavyweight SoftBank Group is edging down 0.2 percent, while Uniqlo operator Fast Retailing is edging up 0.3 percent. Among automakers, Honda is gaining almost 2 percent and Toyota is also adding almost 2 percent.
In the tech space, Advantest is gaining almost 4 percent and Tokyo Electron is edging up 0.3 percent, while Screen Holdings is edging down 0.2 percent.
In the banking sector, Mitsubishi UFJ Financial is gaining almost 1 percent, Sumitomo Mitsui Financial is adding more than 2 percent and Mizuho Financial is advancing almost 2 percent.
The major exporters are mostly higher. Panasonic is gaining almost 3 percent, Sony is adding almost 1 percent and Canon is up more than 1 percent, while Mitsubishi Electric is losing more than 1 percent.
Among the other major gainers, Japan Steel Works is surging more than 7 percent and Nidec is advancing more than 5 percent and DeNA is gaining almost 4 percent, while Fujikura, Hino Motors, Suzuki Motor and Ebara are gaining more than 3 percent each. Olympus and NTT Data are adding almost 3 percent each.
Conversely, Recruit Holdings is declining 3.5 percent.
In the currency market, the U.S. dollar is trading in the lower 154 yen-range on Tuesday.
On Wall Street, stocks moved back to the upside during trading on Monday following the sell-off seen during last Friday's session. The Nasdaq and the SP 500 regained ground, although the narrower Dow ended the day modestly lower.
While the Nasdaq climbed 111.69 points or 0.6 percent to 18,791.81 and the SP 500 rose 23.00 points or 0.4 percent to 5,893.62, the Dow edged down 55.39 points or 0.1 percent to 43,389.60.
The major European markets also turned mixed over the course of the session. While the German DAX Index edged down by 0.1 percent, the French CAC 40 Index inched up by 0.1 percent and the U.K.'s FTSE 100 Index climbed by 0.6 percent.
Crude oil prices climbed higher on Monday on concerns about likely shortage in supplies due to an escalation in Russia - Ukraine war, while a weaker dollar also contributed to the rise in oil prices. West Texas Intermediate Crude oil futures for December closed higher by $2.14 or 3.2 percent at 69.16 a barrel.
Positive Trend In Asian Markets
(RTTNews) - Equity markets in Asia closed on a positive note on Tuesday amidst growing hopes of more stimulus measures and expectations from the rate review by the Peoples Bank of China due on Wednesday. Australia's SP/ASX200 touched an all-time high. Markets also cheered the global easing in bond yields.
China's Shanghai Composite Index rallied 0.67 percent to finish trading at 3,346.01. The day's trading ranged between 3,346.76 and 3,284.13. The Shenzhen Component Index jumped 1.9 percent to close at 10,743.84.
The Japanese benchmark Nikkei 225 rallied 194 points or 0.51 percent to close at 38,414.43. The day's trading range was between 38,560.10 and 38,246.36.
Japan Steel Works topped with overnight gains of 11.6 percent followed by Fujikura that added 7.2 percent. Ebara Corp rallied 5.2 percent followed by Nidec Corp and Panasonic that added more than 4 percent.
Bandai Namco Holdings, Konica Minolta and Astellas Pharma, all slipped more than 3 percent. Recruit Holdings and Oriental Land Co, both lost a little less than 3 percent.
The Hang Seng Index of the Hong Kong Stock Exchange added 87 points or 0.44 percent from the previous close to finish trading at 19,663.67. The day's trading range was between a high of 19,758.57 and a low of 19,522.59.
Korean Stock Exchange's Kospi Index edged up 0.12 percent or 2.88 points to close trading at 2,471.95. The day's trading range was between 2,479.39 and 2,465.15.
Australia's SP/ASX200 closed trading at 8,374.00, gaining 74 points or 0.89 percent and setting a new 100-day high. The day's trading range was between 8,300.20 and 8,446.40.
Software business Technology One jumped more than 10 percent after reporting an 18 percent profit growth. Sonic Healthcare, Block, and De Grey Mining, all rallied more than 6 percent. ALS followed with gains of 5.7 percent in the day's trading.
Elders which completed an equity raising plunged more than 10 percent. Neuren Pharmaceuticals and Pilbara Minerals slipped more than 5 percent. Liontown Resources declined 4.1 percent followed by Pexa Group that slipped 3.8 percent.
The NZX 50 of the New Zealand Stock Exchange added 52 points or 0.40 percent to close trading at 12,816.32, versus the previous close of 12,764.65. Trading ranged between 12,746.55 and 12,840.36.
Healthcare business Pacific Edge topped with gains of 4.2 percent. Agribusiness Scales Corporation and healthcare business Ryman Healthcare rallied a little less than 3 percent whereas Meridian Energy and Investore Property added a little less than 2 percent.
Synlait Milk topped losses with a decline of 5 percent. KMD Brands erased 2.3 percent. Telecommunications business Spark New Zealand, infrastructure investment firm Infratil, and software business Serko, all lost more than 1 percent in the day's trading.
Wall Street had closed on a mixed note on Monday, ahead of key earnings updates. Prospect of slower-than-expected rate cuts by the Fed also weighed on sentiment. Nasdaq Composite added 0.60 percent to close trading at 18,791.81 whereas the Dow Jones Industrial Average shed 0.13 percent to finish trading at 43,389.60.
RBA Vigilant To Upside Risks To Inflation, Minutes Show
(RTTNews) - The Reserve Bank of Australia remained vigilant to upside risks to inflation and the board affirmed that the policy would need to be sufficiently restrictive until inflation moves sustainably towards the target, according to the minutes of the policy board meeting held on November 4 and 5.
Faster-than-expected decline in inflation could warrant an easing in the policy rate but that they would need to observe more than one good quarterly inflation outcome to be confident that such a decline in inflation was sustainable, the minutes showed Tuesday.
In November, the bank had kept its cash rate target unchanged at a 13-year high of 4.35 percent. The bank had previously changed its rate in November 2023, when it was lifted by 25 basis points.
At the November meeting, members discussed various scenarios in which they need to adjust monetary policy.
One such scenario was centered around the judgment on consumption. "Members agreed that if consumption proves to be persistently and materially weaker than the staff forecast, and this was judged likely to lower inflation significantly, a reduction in the cash rate target could be warranted," the minutes said.
Finally, members agreed that monetary policy might need to be adjusted if the Board formed the view that the stance of policy was not as restrictive as had been judged.
Members agreed that it was not possible to rule anything in or out in relation to future changes in the cash rate target, the minutes said.
Eurozone Inflation Rises To 2% As Estimated
(RTTNews) - Eurozone inflation returned to the 2 percent target in October, final data from Eurostat showed on Tuesday.
The harmonized index of consumer prices climbed as initially estimated in October after rising 1.7 percent in September.
Core inflation that excludes prices of energy, food, alcohol and tobacco, remained unchanged at 2.7 percent in October, in line with the flash estimate published on October 31.
At the October meeting, the European Central Bank had cut its key interest rates by 25 basis points as policymakers assessed that the disinflation process is on track. The bank had reduced rates by the same volume in September.
The main driver of overall inflation was services cost, which advanced 4.0 percent annually in October, slightly faster than the 3.9 percent rise in September.
Food, alcohol and tobacco prices gained 2.9 percent and non-energy industrial goods prices moved up 0.5 percent. Meanwhile, energy prices declined 4.6 percent, but slower than the 6.1 percent fall seen in September.
Eurostat confirmed monthly HICP inflation at 0.3 percent. Core consumer prices grew 0.2 percent on month.
EU inflation increased to 2.3 percent in October from 2.1 percent in the previous month. A year earlier, inflation stood at 3.6 percent.
FTSE 100 Slips As Geopolitics Weighs
(RTTNews) - The FTSE 100 benchmark of the London Stock Exchange aligned with the trend in European markets to trade in the red amidst a massive spike in geopolitical concerns. However, the index managed to outperform its European peers.
FTSE 100 oscillated between 8,145.86 and 8,064.84 as compared with the previous day's closing level of 8,109.32.
The benchmark index of the London Stock Exchange is currently trading at 8,080.62, having lost 0.35 percent on an overnight basis.
In the 100-scrip index, only 38 are trading in the overnight positive zone.
Imperial Brands and DCC, both rallied more than 2.5 percent. British Land Co, BT Group and Endeavour Mining have added more than 1 percent.
Diploma tumbled 6.8 percent despite reporting strong financial results. Melrose Industries followed with a decline of 3.8 percent. International Consolidated Airlines, Rolls Royce Holdings and Informa, all declined more than 2 percent.
The GBP/USD pair slipped 0.34 percent overnight to 1.2633. The sterling ranged between $1.2689 and $1.2614 in the day's trade. The EUR/GBP pair is flat at 0.8360. The GBP/JPY pair dropped 0.74 percent to 194.63.
Diverging from the global trend of easing, bond yields in the U.K. spiked in the day's trading. Ten-year bond yields increased 0.24 percent to 4.4765 percent. The yields ranged between 4.431 percent and 4.4945 percent over the course of the day. The same was at 4.466 percent a day earlier.
Ukraine Conflict Drags Down CAC 40
(RTTNews) - Market sentiment remains heavily impacted by the heightened tensions between Ukraine and Russia over the past few days. Worries about the new Trump regime and the potential impact on economic growth in the euro Area also weighed on investor sentiment.
The CAC-40 is currently trading at 7185.54, slipping 1.27 percent from the previous close of 7,185.54. The day's trading has been between 7,301.19 and 7,166.53.
Amidst the renewed risk aversion, only 3 of the 40 scrips in the index are trading above the flatline.
Thales topped gains with a surge of 0.92 percent. EssilorLuxottica added 0.39 percent followed by Sanofi that edged up 008 percent.
Stellantis topped losses with a decline of 4.1 percent. Renault and Vivendi, both slipped close to 2.6 percent. Accor and Kering, both declined 2.4 percent.
STMicroElectronics, Teleperformance, ArcelorMittal, Saint Gobain and LVMH have also erased more than 2 percent.
The EUR/USD pair has slipped 0.45 percent to 1.0552 percent after ranging between 1.0601 and 1.0524. The EUR/GBP pair has edged down 0.07 percent to 0.8354 whereas the EUR/JPY pair has dropped 1.02 percent to 162.24.
In line with the easing in global bond yields, yields on France's ten-year bonds have dropped 1.61 percent to 3.050%. The yield was at 3.100 percent a day earlier. The day's trading ranged between 3.102 percent and 3.011 percent.
DAX Slips As War Worries Return
(RTTNews) - An escalation in tensions between Ukraine and Russia dampened sentiment in European markets causing the DAX to slip close to a percent. Markets also worried about the composition and approach of the new Trump administration, the health of the corporate sector as well as the slower-than-expected rate cuts by the Federal Reserve.
Data released earlier in the day confirmed the annual inflation in the Euro Area at 2 percent in October, versus 1.7 percent in September and in line with the preliminary estimates.
The forty-scrip DAX index is currently trading 0.95 percent lower at 18,987.35, versus the previous close of 19,170.41. The day's trading ranged between a high of 19,206.54 and a low of 18,939.75.
In the 40-scrip index, only 8 scrips are trading in the overnight green zone.
Rheinmetall has surged 2.8 percent followed by E.ON that has gained 1.7 percent. BMW and Symrise have both gained more than 0.60 percent in the day's trading.
Siemens topped losses with a decline of 3.3 percent. Infineon Technologies, Siemens Energy, Daimler Truck Holding, Volkswagen, Commerzbank and BASF have all lost more than 2 percent. Airbus Group, Daimler, Deutsche Post and Heidelberg Cement have all erased more than 1.5 percent in the day's trading.
The EUR/USD pair has slipped 0.35 percent and is currently trading at 1.0562 after ranging between 1.0524 and 1.0601. The EUR/GBP pair has edged down 0.02 percent to 0.8358 whereas the EUR/JPY pair has dropped 0.91 percent to 162.43.
In tandem with the global easing in bond yields, German bond yields decreased 2.9 percent. The same is at 2.3030 percent versus 2.372 percent at the previous close. Yields ranged between 2.2675 percent and 2.3715 percent in the day's trading.
Bay Street Seen Opening Lower On Geopolitical Concerns; Canadian Inflation Data In Focus
(RTTNews) - Canadian shares look headed for a weak start on Tuesday amid rising geopolitical concerns after Russian President Vladimir Putin updated nuclear doctrine.
Kremlin has warned that it would consider a nuclear strike if it was subject to a conventional missile assault supported by a nuclear power.
Higher bullion prices could trigger some buying in the metals section and limit market's downside a bit.
Data on Canadian inflation for the month of October is due at 8:30 AM ET.
The annual inflation rate in Canada fell to 1.6% in September, from 2% in the previous month. The September reading was the lowest since February 2021. Month on month, inflation dropped 0.4% in September.
The annual core inflation rate in Canada increased to 1.6% in September from 1.5% in the prior month. On a monthly basis, core consumer prices were flat in September, after falling by 0.1% in August.
George Weston Ltd. (WN.TO) reported adjusted diluted net earnings of $3.57 per common share in the third quarter, up $0.21 or about 6.3%, compared to a year ago.
The Canadian market closed on a firm note on Monday, lifted by gains in energy and materials stocks as commodity prices climbed higher amid an escalation in the Russia - Ukraine war.
The benchmark SP/TSX Composite Index, which climbed to 25,082.87, ended with gain of 86.26 points or 0.35% at 24,976.94.
Asian markets close on a positive note on Tuesday amidst growing hopes of more stimulus measures and expectations from the rate review by the People's Bank of China due on Wednesday.
European stocks are notably lower amid an escalation in Russia - Ukraine war, and on uncertainty about U.S. interest rates and concerns over the impact of Donald Trump's second term as U.S. President.
In commodities, West Texas Intermediate Crude oil futures are down $0.34 or 0.48% at $68.82 a barrel.
Gold futures are gaining $25.10 or 0.96% at $2,639.70 an ounce, while Silver futures are up $0.201 or 0.64% at $31.425 an ounce.
European Stocks Tumble As Russia-Ukraine War Hurts Sentiment
(RTTNews) - European stocks are reeling under a bout of selling pressure on Tuesday following an escalation in the Russia - Ukraine war, and amid uncertainty about U.S. interest-rate trajectory and the outlook for global economic growth.
Russia's warning on its updated nuclear doctrine is weighing on sentiment, prompting investors to move away from riskier assets. The Kremlin said the aim of the updated nuclear doctrine was to make potential enemies understand the inevitability of Russian retaliation for an attack.
Investors are also digesting the latest batch of regional economic data, including the reports on euro area inflation, eurozone current account data, and Swiss trade data.
The pan European Stoxx 600 is down 0.79%. The U.K.'s FTSE 100 is declining 0.33%, Germany's DAX is down 0.96% and France's CAC 40 is lower by about 1.05%. Switzerland's SMI is down 0.89%. Russia's benchmark is down 1.43%.
In the UK market, Diploma is down more than 6.5% on weak earnings and disappointing revenue guidance.
Melrose Industries is declining 3.2%, while IAG, Rolls-Royce Holdings, Informa, Weir Group, Schrodders, Entain, BM European Value Retail, Whitbread, Barclays Group, Prudential, Associated British Foods, Lloyds Banking Group, Antofagasta and HSBC Holdings are down 1 to 3%.
Mulberry Group shares are down more than 6%, weighed down by wider first-half loss.
Impeiral Brands is up 2.5% on stronger than expected operating profit in the latest quarter. The company said its expects another strong performance next year.
DCC, BT Group, Endeavour Mining, British Land, Fresnillo, BAE Systems, United Utilities and AstraZeneca are up with sharp to moderate gains.
In the German market, Siemens is down 3.4%. Infineon, Continental, Deutsche Bank, Brenntag, Daimler Truck Holding, Mercedes-Benz, Volkswagen, Deutsche Post, Beiersdorf, BASF and Porsche are lower by 1.4 to 3%.
Rheinmetall is rising more than 5%. E.ON and Symrise are up with modest gains.
In the French market, Stellantis is down more than 4%. Vivendi is lower by nearly 3%, while Accor, STMicroElectronics, Renault, Kering, ArcelorMittal, Saint-Gobain, LVMH, BNP Paribas, Teleperformance, Societe Generale, TotalEnergies and Legrand are declining 1.3 to 2.5%.
On the economic front, final data from Eurostat showed the consumer price index in the Euro Area increased 0.3% month-over-month in October, the most in six months, following a 0.1% decline in September. Annual inflation accelerated to 2% in October, up from 1.7% in September.
Core consumer prices in the Euro Area increased 2.7% in October over the same month in the previous year, the data said.
The euro area current account surplus increased in September on a rebound in primary income, data from the European Central Bank showed. The current account surplus totaled EUR 37 billion in September, up from EUR 35 billion in the previous month. The surplus was forecast to fall to EUR 27.0 billion.
Switzerland's foreign trade surplus decreased somewhat in October amid a surge in exports, data from the Federal Customs Administration showed.
The trade surplus rose to CHF 5.97 billion in October from CHF 4.03 billion in September.
In real terms, exports jumped 11.2% over the month, reversing a 2.3% decrease in September. Imports increased at a stable rate of 0.7%. In nominal terms, both exports and imports grew by 10.2% and 1.8%, respectively.
Rebound Predicted For Malaysia Stock Market
(RTTNews) - The Malaysia stock market headed south again on Tuesday, one day after ending the two-day slide in which it had slumped almost 20 points or 1.2 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it figures to bounce higher again on Wednesday.
The global forecast for the Asian markets is mixed to higher, with support again expected from the oil and technology sectors. The European markets were down and the U.S. bourses were mostly higher and the Asian markets are tipped to follow the latter lead.
The KLCI finished slightly lower on Tuesday following losses from the plantations and a mixed picture from the financials, industrials and telecoms.
For the day, the index dipped 1.70 points or 0.11 percent to finish at 1,602.34 after trading between 1,601.02 and 1,608.88.
Among the actives, Axiata slumped 0.88 percent, while Celcomdigi added 0.89 percent, CIMB Group collected 0.37 percent, Genting spiked 1.85 percent, Genting Malaysia rallied 1.40 percent, IHH Healthcare rose 0.55 percent, IOI Corporation stumbled 1.25 percent, Kuala Lumpur Kepong and Sime Darby both lost 0.45 percent, Maxis soared 2.24 percent, Maybank declined 0.97 percent, MISC gained 0.66 percent, MRDIY climbed 1.09 percent, Petronas Chemicals gathered 0.44 percent, PPB Group dropped 0.71 percent, Press Metal tumbled 1.71 percent, Public Bank retreated 1.33 percent, QL Resources skidded 0.84 percent, RHB Bank was up 0.15 percent, SD Guthrie sank 0.61 percent, Sunway surged 2.75 percent, Telekom Malaysia advanced 0.95 percent, Tenaga Nasional perked 0.42 percent, YTL Corporation jumped 1.52 percent and YTL Power, Nestle Malaysia and Hong Leong Financial were unchanged.
The lead from Wall Street is cautiously optimistic after the major averages opened lower on Tuesday, although the NASDAQ and SP 500 managed to finish in the green.
The Dow slumped 120.66 points or 0.28 percent to finish at 43,268.94, while the NASDAQ rallied 195.66 points or 1.04 percent to close at 18.987.47 and the SP added 23.36 points or 0.40 percent to end at 5,916.98.
The early weakness on Wall Street came amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine.
After President Joe Biden gave Ukraine permission to attack Russian territory using U.S.-made long-range missiles, Russian President Vladimir Putin has signed a decree amending the country's nuclear doctrine.
Selling pressure waned shortly after the start of trading, however, with an advance by shares of Nvidia (NVDA) helping lead the turnaround by the NASDAQ. Nvidia will release Q3 results later today.
Oil futures settled higher on Tuesday amid the rising possibility of supply disruptions after Ukraine launched long-range U.S. made missiles to hit a facility in Russia's Bryansk region. West Texas Intermediate Crude oil futures for December rose $0.23 or about 0.3 percent at $69.39 a barrel.
Euro Slides Against Majors
(RTTNews) - The euro weakened against other major currencies in the European session on Tuesday, as traders are worried that protectionist policies by President-elected Donald Trump could disrupt the Eurozone's growth potential.
Trump stated throughout his campaign that all economies will suffer from the increased import duties imposed by the United States, but the European Union (EU) will be particularly hard hit. In the election campaign, Trump advocated imposing tariffs of 10-20 percent on all imports and 60 percent on goods from China.
Fears about the European Central Bank will lower interest rates by 25 or 50 basis points (bps) at its December meeting has intensified, due to concerns about Trump's foreign policy.
Rising geopolitical tensions in the wake of Ukraine's use of Western missiles against Russia, which has led to allegations that the Kremlin is threatening a nuclear retaliation, also weighed on the currency.
In economic news, data from the European Central Bank showed that the euro area current account surplus increased in September on a rebound in primary income. The current account surplus totaled EUR 37 billion in September, up from EUR 35 billion in the previous month. The surplus was forecast to fall to EUR 27.0 billion.
Data from Eurostat showed that the harmonized index of consumer prices posted an annual growth of 2.0 percent, as initially estimated. Inflation stood at 1.7 percent in September. Core inflation that excludes energy, food, alcohol and tobacco, remained unchanged at 2.7 percent in October, in line with the flash estimate.
In the European trading now, the euro fell to 4-day lows of 1.0524 against the U.S. dollar and 0.8333 against the pound, from early highs of 1.0601 and 0.8362, respectively. The euro may test support around 1.04 against the greenback and 0.81 against the pound.
Against the Swiss franc and the yen, the euro slid to nearly a 3-1/2-month low of 0.9304 and a 1-1/2-month low of 161.50 from early highs of 0.9362 and 163.81, respectively. If the euro extends its downtrend, it is likely to find support around 0.92 against the franc and 160.00 against the yen.
Against Australia, the New Zealand and the Canadian dollars, the euro slipped to a 1-week low of 1.6217, a 6-day low of 1.7906 and a 5-day low of 1.4766 from early highs of 1.6300, 1.8016 and 1.4858, respectively. The next possible downside target is seen around 1.60 against the aussie, 1.76 against the kiwi and 1.46 against the loonie.
Looking ahead, Canada CPI data for October, U.S. building permits and housing starts for October and U.S. Redbook reports are slated for release in the New York session.
Japan Trade Data Due On Wednesday
(RTTNews) - Japan will on Wednesday release October figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.
Imports are expected to sink 0.3 percent on year after rising 2.1 percent in September. Exports are called higher by an annual 2.2 percent after slipping 1.7 percent in the previous month. The trade deficit is pegged at 360.4 billion yen following the 294.1 billion yen shortfall a month earlier.
South Korea will provide October numbers for producer prices; in September, producer prices were down 0.2 percent on month and up 1.0 percent on year.
The central bank in Indonesia will wrap up its monetary policy meeting and announce its decision on interest rates. Its benchmark lending rate (6.00 percent), deposit facility rate (5.25 percent) and lending facility rate (6.75 percent) are all seen as unchanged.
Taiwan will see October figures for export orders, as well as Q3 data for current account. In September, export orders were up 4.6 percent on year. In Q2, the current account surplus was $21.82 billion.
Dollar Turns In Mixed Performance Against Major Counterparts
(RTTNews) - After displaying some strength in the European session, the U.S. dollar pared gains and stayed largely subdued in the New York session on Tuesday with traders closely following the developments on the geopolitical front and assessing recent data from the U.S., and other major economies.
New residential construction in the U.S. tumbled by more than expected in the month of October, according to a report released by the Commerce Department today.
The report said housing starts dove by 3.1% to an annual rate of 1.311 million in October after slumping by 1.9% to a revised rate of 1.353 million in September. Economists had expected housing starts to decrease by 1.8% to an annual rate of 1.330 million from the 1.354 million originally reported for the previous month.
The Commerce Department said building permits also fell by 0.6% to an annual rate of 1.416 million in October after plunging by 3.1% to a revised rate of 1.425 million in September.
Building permits, an indicator of future housing demand, were expected to inch up by 0.1% to a rate of 1.430 million from the 1.428 million originally reported for the previous month.
The dollar index, which climbed to 106.63 in the European session, dropped to 106.11 around late morning, and was at 106.19 a little while ago, netting a marginal gain.
Against the Euro, the dollar gained marginally at 1.0598. The dollar pared early gains and weakened to 1.2686 against Pound Sterling, easing fro $1.2677 a unit of the British currency.
The dollar recovered from early weakness against the Japanese currency, fetching 154.67 yen a unit, after having dropped to 153.29 yen during the European session. The Aussie firmed to U.S. 0.6535.
The dollar dropped against the Loonie, easing to C$ 1.3959 after trading around $1.4040 during the European session. Against Swiss franc, the dollar declined marginally to CHF 0.8825 after hotter-than-expected Canadian inflation data.
Taiwan Bourse May Reclaim 23,000-Point Level
(RTTNews) - The Taiwan stock market has ventured higher in two of three trading days since the end of the four-day losing streak in which it had tumbled almost 850 points or 3.6 percent. The Taiwan Stock Exchange now rests just beneath the 22,850-point plateau and it may see additional support on Wednesday.
The global forecast for the Asian markets is mixed to higher, with support again expected from the oil and technology sectors. The European markets were down and the U.S. bourses were mostly higher and the Asian markets are tipped to follow the latter lead.
The TSE finished sharply higher on Tuesday following gains from the financial shares and technology stocks, while the plastics companies were soft.
For the day, the index jumped 302.26 points or 1.34 percent to finish at 22,848.80 after trading between 22,578.75 and 22,906.69.
Among the actives, Cathay Financial climbed 1.04 percent, while Mega Financial collected 0.63 percent, First Financial improved 1.08 percent, Fubon Financial jumped 1.78 percent, E Sun Financial eased 0.18 percent, Taiwan Semiconductor Manufacturing Company strengthened 1.46 percent, United Microelectronics Corporation perked 0.22 percent, Hon Hai Precision added 0.49 percent, Largan Precision rallied 1.71 percent, Catcher Technology increased 0.74 percent, MediaTek soared 3.63 percent, Delta Electronics gathered 0.39 percent, Novatek Microelectronics slumped 1.22 percent, Formosa Plastics tanked 2.66 percent, Nan Ya Plastics retreated 1.43 percent, Asia Cement plunged 2.76 percent and CTBC Financial was unchanged.
The lead from Wall Street is cautiously optimistic after the major averages opened lower on Tuesday, although the NASDAQ and SP 500 managed to finish in the green.
The Dow slumped 120.66 points or 0.28 percent to finish at 43,268.94, while the NASDAQ rallied 195.66 points or 1.04 percent to close at 18.987.47 and the SP added 23.36 points or 0.40 percent to end at 5,916.98.
The early weakness on Wall Street came amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine.
After President Joe Biden gave Ukraine permission to attack Russian territory using U.S.-made long-range missiles, Russian President Vladimir Putin has signed a decree amending the country's nuclear doctrine.
Selling pressure waned shortly after the start of trading, however, with an advance by shares of Nvidia (NVDA) helping lead the turnaround by the NASDAQ. Nvidia will release Q3 results later today.
Oil futures settled higher on Tuesday amid the rising possibility of supply disruptions after Ukraine launched long-range U.S. made missiles to hit a facility in Russia's Bryansk region. West Texas Intermediate Crude oil futures for December rose $0.23 or about 0.3 percent at $69.39 a barrel.
Closer to home, Taiwan will see October figures for export orders later today, as well as Q3 data for current account. In September, export orders were up 4.6 percent on year. In Q2, the current account surplus was $21.82 billion.
Japan Has Y461.2 Billion Trade Shortfall
(RTTNews) - Japan posted a merchandise trade deficit of 461,2 billion yen in October, the Ministry of Finance said on Wednesday.
That missed forecasts for a shortfall of 360.4 billion yen following the upwardly revised 294.1 billion yen deficit in September.
Exports were up 3.1 percent on year at 9.426 trillion yen - exceeding expectations for an increase of 2.2 percent following the 1.7 percent decline in the previous month.
Imports rose an annual 0.4 percent to 9.887 trillion yen versus forecasts for a decline of 0.3 percent following the 1.8 percent increase a month earlier.
TSX Ends Marginally Higher As Stocks Pare Early Losses
(RTTNews) - Canadian stocks tumbled Tuesday morning, hurt by hot inflation data and escalating geopolitical tensions, but recovered gradually to eventually end the day's session on a slightly positive note.
Data from Statistics Canada showed the annual inflation rate in Canada rose to 2% in October from an over-three-year low of 1.6% in the previous month. The consumer price index increased 0.4% in October over the previous month.
The annual core inflation rate in Canada increased to 1.7% in October, up from 1.6% a month earlier. On a monthly basis, core consumer prices rose by 0.4% in October, after being flat in the prior month.
Market is also weighed down by rising geopolitical concerns after Russian President Vladimir Putin updated nuclear doctrine.
Kremlin has warned that it would consider a nuclear strike if it was subject to a conventional missile assault supported by a nuclear power.
Materials and utilities stocks were the notable gainers. Consumer staples stocks closed weak. Stocks from rest of the sectors trimmed early losses.
The benchmark SP/TSX Composite Index, which dropped nearly 200 points to 24,787.79 in early trades, settled at 25,010.77, gaining 33.83 points or 0.14%.
Dye Durham (DND.TO) closed with a big gain of 13.2%. Celestica Inc (CLS.TO), Torex Gold Resources (TXG.TO), Agnico Eagle Mines (AEM.TO), Quebecor (QBR.A.TO), Wheaton Precious Metals (WPM.TO), Cameco Corporation (CCO.TO) and Franco-Nevada Corporation (FNV.TO) gained 2 to 3%.
Bombardier Inc (BBD.B.TO), Teck Resources (TECK.A.TO), Rogers Communications (RCI.A.TO), Capital Power Corporation (CPX.TO), Morguard Corporation (MRC.TO), Newmont Corporation (NGT.TO), Bank of Nova Scotia (BNS.TO), iA Financial Corporation (IAG.TO) and Kinaxis Inc (KXS.TO) gained 1 to 2%.
Mty Food Group (MTY.TO), Molson Coors Canada (TPX.B.TO), Boyd Group Services (BYD.TO), George Weston (WN.TO), Interfor Corporation (IFP.TO), Finning International (FTT.TO) and Magna International (MG.TO) closed down 2 to 5%.
Higher Open Anticipated For Hong Kong Shares
(RTTNews) - The Hong Kong stock market has climbed higher in two straight sessions, rallying more than 235 points or 1.2 percent along the way. The Hang Seng Index now sits just above the 19,660-point plateau and it's expected to open to the upside again on Wednesday.
The global forecast for the Asian markets is mixed to higher, with support again expected from the oil and technology sectors. The European markets were down and the U.S. bourses were mostly higher and the Asian markets are tipped to follow the latter lead.
The Hang Seng finished modestly higher on Tuesday following gains from the property stocks and technology companies.
For the day, the index collected 87.06 points or 0.44 percent to finish at 19,663.67 after trading between 19,522.59 and 19,758.57.
Among the actives, Alibaba Group slumped 1.22 percent, while Alibaba Health Info rose 0.53 percent, ANTA Sports increased 1.06 percent, China Life Insurance perked 0.26 percent, China Mengniu Dairy rallied 1.56 percent, CITIC strengthened 1.58 percent, CNOOC advanced 0.70 percent, CSPC Pharmaceutical improved 1.17 percent, Haier Smart Home was up 0.18 percent, Hang Lung Properties gathered 0.47 percent, Henderson Land jumped 1.63 percent, Hong Kong China Gas and Li Ning both collected 0.50 percent, JD.com fell 0.15 percent, Lenovo gained 0.56 percent, Li Auto surged 3.00 percent, Meituan accelerated 1.72 percent, New World Development climbed 1.41 percent, Nongfu Spring spiked 2.23 percent, Techtronic Industries added 0.58 percent, Xiaomi Corporation tumbled 1.74 percent, WuXi Biologics soared 2.29 percent and China Resources Land, Galaxy Entertainment and Industrial and Commercial Bank of China were unchanged.
The lead from Wall Street is cautiously optimistic after the major averages opened lower on Tuesday, although the NASDAQ and SP 500 managed to finish in the green.
The Dow slumped 120.66 points or 0.28 percent to finish at 43,268.94, while the NASDAQ rallied 195.66 points or 1.04 percent to close at 18.987.47 and the SP added 23.36 points or 0.40 percent to end at 5,916.98.
The early weakness on Wall Street came amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine.
After President Joe Biden gave Ukraine permission to attack Russian territory using U.S.-made long-range missiles, Russian President Vladimir Putin has signed a decree amending the country's nuclear doctrine.
Selling pressure waned shortly after the start of trading, however, with an advance by shares of Nvidia (NVDA) helping lead the turnaround by the NASDAQ. Nvidia will release Q3 results later today.
Oil futures settled higher on Tuesday amid the rising possibility of supply disruptions after Ukraine launched long-range U.S. made missiles to hit a facility in Russia's Bryansk region. West Texas Intermediate Crude oil futures for December rose $0.23 or about 0.3 percent at $69.39 a barrel.
Singapore Stock Market Tipped To Open In The Green
(RTTNews) - The Singapore stock market bounced higher again on Tuesday, one day after ending the three-day winning streak in which it had collected more than 30 points or 0.8 percent. The Straits Times Index now sits just beneath the 3,760-point plateau and it may see additional support on Wednesday.
The global forecast for the Asian markets is mixed to higher, with support again expected from the oil and technology sectors. The European markets were down and the U.S. bourses were mostly higher and the Asian markets are tipped to follow the latter lead.
The STI finished modestly higher on Tuesday as gains from the industrials, properties and financials were capped by weakness from the REITs.
For the day, the index gained 25.42 points or 0.68 percent to finish at 3,757.97 after trading between 3,738.42 and 3,766.93.
Among the actives, CapitaLand Integrated Commercial Trust lost 0.51 percent, while CapitaLand Investment improved 0.72 percent, City Developments added 0.78 percent, DBS Group collected 0.40 percent, Emperador tumbled 1.19 percent, Genting Singapore sank 0.65 percent, Hongkong Land climbed 1.53 percent, Keppel Ltd accelerated 2.13 percent, Mapletree Pan Asia Commercial Trust skidded 0.81 percent, Mapletree Industrial Trust slumped 0.87 percent, Mapletree Logistics Trust dropped 0.79 percent, Oversea-Chinese Banking Corporation gained 0.24 percent, SATS spiked 2.94 percent, Seatrium Limited surged 3.80 percent, SembCorp Industries strengthened 2.77 percent, Singapore Technologies Engineering rallied 2.92 percent, SingTel jumped 2.87 percent, Yangzijiang Financial advanced 1.24 percent, Yangzijiang Shipbuilding soared 3.57 percent and Thai Beverage, Wilmar International, Keppel DC REIT and Comfort DelGro were unchanged.
The lead from Wall Street is cautiously optimistic after the major averages opened lower on Tuesday, although the NASDAQ and SP 500 managed to finish in the green.
The Dow slumped 120.66 points or 0.28 percent to finish at 43,268.94, while the NASDAQ rallied 195.66 points or 1.04 percent to close at 18.987.47 and the SP added 23.36 points or 0.40 percent to end at 5,916.98.
The early weakness on Wall Street came amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine.
After President Joe Biden gave Ukraine permission to attack Russian territory using U.S.-made long-range missiles, Russian President Vladimir Putin has signed a decree amending the country's nuclear doctrine.
Selling pressure waned shortly after the start of trading, however, with an advance by shares of Nvidia (NVDA) helping lead the turnaround by the NASDAQ. Nvidia will release Q3 results later today.
Oil futures settled higher on Tuesday amid the rising possibility of supply disruptions after Ukraine launched long-range U.S. made missiles to hit a facility in Russia's Bryansk region. West Texas Intermediate Crude oil futures for December rose $0.23 or about 0.3 percent at $69.39 a barrel.
UK Inflation Accelerates More Than Forecast
(RTTNews) - UK consumer price inflation accelerated more than expected in October, lowering the chances of a rate cut at the upcoming monetary policy meeting in December.
The consumer price index rose 2.3 percent on a yearly basis, following September's 1.7 percent increase, which was the lowest since April 2021, the Office for National Statistics reported Wednesday.
The rate again exceeded the Bank of England's 2 percent target and also remained above economists' forecast of 2.2 percent.
Core inflation that strips out prices of energy, food, alcohol and tobacco, edged up unexpectedly to 3.3 percent from 3.2 percent in September. The core rate was seen at 3.1 percent.
"While inflation is down considerably from this time last year, the larger than expected uptick in October highlights the continuing price pressures in the economy," British Chambers of Commerce Head of Research David Bharier said.
At the November meeting, the Bank of England had reduced its benchmark rate for the second time this year citing continued progress in disinflation but suggested that further easing is set to be gradual due to the upward impact on inflation from the Autumn budget.
The bank had lowered the Bank Rate by a quarter-point to 4.75 percent this month. The BoE had projected headline CPI inflation to rise to 2.5 percent by December.
The next monetary policy announcement is due on December 19. Policymakers are likely to be more cautious on further easing as inflation moved above the target.
Driven by higher electricity and gas prices, housing and household services provided the largest upward contribution to the annual inflation in October, the ONS said. Meanwhile, the biggest offsetting downward contribution came from recreation and culture.
The annual decline in goods prices slowed to 0.3 percent from 1.4 percent. Meanwhile, services inflation rose to 5.0 percent from 4.9 percent.
On a monthly basis, the CPI climbed 0.6 percent after remaining unchanged in September.
Another data from the statistical office showed that input prices fell 2.3 percent on a yearly basis in October, down from a revised drop of 1.9 percent in September.
Monthly input prices gained only 0.1 percent in October, reversing September's revised fall of 0.5 percent. Prices were expected to climb 0.5 percent.
Factory gate prices were down 0.8 percent in October compared to a revised fall of 0.6 percent a month ago.
Monthly output prices were flat in October after posting a revised decline of 0.4 percent in September. Economists had forecast a 0.1 percent fall.
China Shares May Extend Tuesday's Gains
(RTTNews) - The China stock market on Tuesday halted the three-day slide in which it had stumbled almost 120 points or 3.7 percent. The Shanghai Composite now sits just beneath the 3,350-point plateau and it's expected to open higher again on Wednesday.
The global forecast for the Asian markets is mixed to higher, with support again expected from the oil and technology sectors. The European markets were down and the U.S. bourses were mostly higher and the Asian markets are tipped to follow the latter lead.
The SCI finished modestly higher on Tuesday following gains from the resource stocks, weakness from the financials and a mixed picture from the property sector.
For the day, the index improved 22.16 points or 0.67 percent to finish at 3,346.01 after trading between 3,284.13 and 3,346.76. The Shenzhen Composite Index rallied 43.08 points or 2.19 percent to end at 2,009.86.
Among the actives, Industrial and Commercial Bank of China shed 0.65 percent, while Bank of China slid 0.40 percent, China Construction Bank lost 0.64 percent, China Merchants Bank fell 0.47 percent, Agricultural Bank of China skidded 1.04 percent, China Life Insurance dropped 0.92 percent, Jiangxi Copper climbed 1.15 percent, Aluminum Corp of China (Chalco) jumped 1.79 percent, Yankuang Energy added 0.52 percent, PetroChina dipped 0.25 percent, China Petroleum and Chemical (Sinopec) slumped 1.10 percent, Huaneng Power retreated 1.52 percent, China Shenhua Energy sank 0.77 percent, Gemdale perked 0.19 percent, China Vanke declined 1.02 percent and Poly Developments was unchanged.
The lead from Wall Street is cautiously optimistic after the major averages opened lower on Tuesday, although the NASDAQ and SP 500 managed to finish in the green.
The Dow slumped 120.66 points or 0.28 percent to finish at 43,268.94, while the NASDAQ rallied 195.66 points or 1.04 percent to close at 18.987.47 and the SP added 23.36 points or 0.40 percent to end at 5,916.98.
The early weakness on Wall Street came amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine.
After President Joe Biden gave Ukraine permission to attack Russian territory using U.S.-made long-range missiles, Russian President Vladimir Putin has signed a decree amending the country's nuclear doctrine.
Selling pressure waned shortly after the start of trading, however, with an advance by shares of Nvidia (NVDA) helping lead the turnaround by the NASDAQ. Nvidia will release Q3 results later today.
Oil futures settled higher on Tuesday amid the rising possibility of supply disruptions after Ukraine launched long-range U.S. made missiles to hit a facility in Russia's Bryansk region. West Texas Intermediate Crude oil futures for December rose $0.23 or about 0.3 percent at $69.39 a barrel.
