虚拟币峰会
Losing Streak May Continue For Indonesia Shares
(RTTNews) - The Indonesia stock market has finished lower in three straight sessions, shedding more than 160 points or 2.1 percent along the way. The Jakarta Composite Index now rests just above the 7,160-point plateau and it may extend its losses again on Monday.
The global forecast for the Asian markets is soft on concerns over the outlook for interest rates. The European and U.S. markets were own and the Asian bourses are expected to open in similar fashion.
The JCI finished modestly lower on Friday following losses from the financial shares, resource stocks and cement companies.
For the day, the index sank 53.30 points or 0.74 percent to finish at 7,161.26 after trading between 7,122.68 and 7,241.66.
Among the actives, Bank CIMB Niaga collected 0.28 percent, while Bank Mandiri fell 0.39 percent, Bank Negara Indonesia sank 0.81 percent, Bank Central Asia improved 0.74 percent, Bank Rakyat Indonesia shed 0.67 percent, Bank Maybank Indonesia tumbled 1.80 percent, Indosat Ooredoo Hutchison advanced 0.89 percent, Semen Indonesia tanked 2.48 percent, Indofood Sukses Makmur rose 0.32 percent, United Tractors rallied 2.21 percent, Astra International dipped 0.20 percent, Energi Mega Persada plummeted 6.62 percent, Astra Agro Lestari lost 0.38 percent, Aneka Tambang plunged 5.41 percent, Jasa Marga eased 0.22 percent, Vale Indonesia was up 0.26 percent, Timah retreated 1.50 percent, Bumi Resources tumbled 7.45 percent and Bank Danamon Indonesia and Indocement were unchanged.
The lead from Wall Street is broadly negative as the major averages opened lower on Friday and only weakened further as the day progressed.
The Dow plunged 305.87 points or 0.70 percent to finish at 43,444.99, while the NASDAQ plummeted 427.53 points or 2.24 percent to close at 18,680.12 and the SP 500 dropped 78.55 points or 1.32 percent to end at 5,870.62. For the week, the NASDAQ shed 3.2 percent, the SP sank 2.1 percent and the Dow fell 1.2 percent.
The sell-off on Wall Street came amid concerns about the outlook for interest rates following Federal Reserve Chair Powell's recent remarks suggesting the central bank doesn't need to hurry to lower rates. Citing the strength of the U.S. economy, Powell said the Fed can take a careful approach to future monetary policy decisions.
Potentially adding to concerns economic strength will lead the Fed to hold off on future rate cuts, the Commerce Department released a report showing retail sales increased by slightly more than expected in October.
Oil futures plummeted Friday on concerns about the outlook for demand, recent data showing an increase in U.S. crude inventories and a stronger dollar. West Texas Intermediate Crude oil futures for December sank $1.68 or 2.45 percent at $67.02 a barrel; they shed 5 percent in the week.
Australian Market Slightly Higher
(RTTNews) - The Australian stock market is slightly higher on Monday after opening in the red, extending some of the gains in the previous two sessions, despite the broadly negative cues from Wall Street on Friday. The benchmark SP/ASX 200 index is staying just below the 8,300.00 level, with gains in mining and energy stocks nearly offset by weakness in some technology and financial stocks.
The benchmark SP/ASX 200 Index is gaining 2.30 points or 0.03 percent to 8,287.50, after hitting a low of 8,244.30 and a high of 8,292.80 earlier. The broader All Ordinaries Index is up 3.00 points or 0.04 percent to 8,542.00. Australian stocks closed significantly higher on Friday.
Among the major miners, BHP Group is gaining almost 1 percent, Rio Tinto is adding almost 2 percent, Fortescue Metals is edging up 0.2 percent and Mineral Resources is advancing almost 4 percent.
Oil stocks are mostly higher. Beach energy, Origin Energy and Santos are gaining more than 1 percent each, while Woodside Energy is edging up 0.5 percent.
Among tech stocks, Afterpay owner Block is gaining 1.5 percent and WiseTech Global is adding almost 1 percent, while Appen is declining more than 5 percent, Xero is down almost 1 percent and Zip is losing 2.5 percent.
Gold miners are mostly higher. Evolution Mining is gaining more than 3 percent and Newmont is up almost 1 percent, while Northern Star Resources and Gold Road Resources are adding more than 2 percent each.
Among the big four banks, National Australia Bank and ANZ Banking are losing almost 1 percent each, while Commonwealth Bank is down more than 1 percent. Westpac is flat.
In other news, shares in Australian uranium miners Paladin Energy and Boss Energy are surging almost 7 percent after Russia announced a ban on uranium exports to the US. Silex Systems is soaring more than 11 percent.
In the currency market, the Aussie dollar is trading at $0.647 on Monday.
On Wall Street, stocks showed a more substantial move to the downside during trading on Friday after coming under pressure late in Thursday's session. The major averages all moved sharply lower on the day, pulling back well off Monday's record closing highs.
The major averages climbed off their worst levels in late-day trading but remained firmly negative. The tech-heavy Nasdaq led the way lower, plunging 427.53 points or 2.2 percent to 18,680.12. The SP 500 also tumbled 78.55 points or 1.3 percent to 5,870.62, while the narrower Dow slid 305.87 points or 0.7 percent to 43,444.99.
The major European markets all also moved to the downside on the day. While the French CAC 40 Index slid by 0.6 percent, the German DAX Index fell by 0.3 percent and the U.K.'s FTSE 100 Index edged down by 0.1 percent.
Crude oil prices plummeted Friday on concerns about the outlook for demand, recent data showing an increase in U.S. crude inventories and a stronger dollar. West Texas Intermediate Crude oil futures for December sank $1.68 or 2.45 percent at $67.02 a barrel; they shed 5 percent in the week.
Yen Retreats Against Majors
(RTTNews) - The Japanese yen retreated from recent highs against other major currencies in the Asian session on Monday.
The yen fell to 163.50 against the euro and 174.62 against the Swiss franc, from a recent near 1-month highs of 162.27 and 173.41, respectively.
Against the U.S. dollar, the yen advanced to 155.14 from a recent 6-day high of 153.84.
The yen edged up to 195.99 against the pound, from a recent high of 194.73.
If the yen extends its downtrend, it is likely to find support around 166.00 against the euro, 178.00 against the franc, 160.00 against the greenback and 200.00 against the pound.
BoJ Chief Says Future Rate Decisions Will Be Data Dependent
(RTTNews) - Bank of Japan Governor Kazuo Ueda said the future interest rate decisions will be data-dependent and avoided giving clear idea about the timing of the next rate hike.
At each monetary policy meeting, the BoJ will make policy decisions based on its assessment of economic activity and prices with the data and information available at the time of each meeting, Ueda told business leaders in Nagoya.
"The actual timing of the adjustments will continue to depend on developments in economic activity and prices as well as financial conditions going forward," he said.
Ueda said the bank will pay due attention to various risk factors, such as the course of overseas economies, especially the US economy and developments in financial and capital markets.
He avoided giving clear idea about the timing of the next interest rate hike. Markets expect a quarter-point increase at the next meeting in December.
At the October meeting, the board had maintained the key rate at around 0.25 percent, which was the highest since late 2008.
The BoJ had ended its negative interest rate policy in March and last lifted the benchmark rate in July to the current level.
Core inflation is forecast to be around 2 percent for the fiscal 2025 and 2026.
The governor today said he expects inflationary pressures stemming from wage increases to strengthen as an improvement in economic activity and solid wage growth continue.
Asian Shares Mixed; Nikkei Underperforms After BoJ Ueda's Comments
(RTTNews) - Asian stocks turned in a mixed performance on Monday due to renewed concerns over Trump's potential tariffs and uncertainty over Fed's policy.
The dollar rose against the yen in Asian trading and oil eked out modest gains amid signs of escalating tensions between Russia and Ukraine. Gold rose nearly 1 percent after witnessing a sharp decline last week.
China's Shanghai Composite index ended 0.21 percent lower at 3,323.85, giving up early gains.
Hong Kong's Hang Seng rose 0.77 percent to 19,576.61 after China's securities regulator said it will expand the scope of stock eligible to trade via Stock Connect.
Japanese markets fell sharply as Bank of Japan Governor Kazuo Ueda affirmed that the door remains open to more rate hikes and the central bank is seeking more clarity on U.S. economic policy under the incoming administration of President-elect Donald Trump.
Investors also digested downbeat data showing that Japan's core machinery orders fell for a second consecutive quarter.
The Nikkei average dipped 1.09 percent to 38,220.85 while the broader Topix index settled 0.73 percent lower at 2,691.76.
Pharmaceutical stocks fell the most after Trump nominated vaccine skeptic Robert F Kennedy as the U.S. Secretary for Health and Human Service.
Seoul stocks rallied, with the Kospi average closing up 2.16 percent at 2,469.07. Samsung Electronics jumped 6 percent after the country's biggest firm announced surprise stock buyback plan.
Australian markets ended modestly higher, led by miners and consumer staple stocks.
The benchmark SP/ASX 200 edged up by 0.18 percent to 8,300.20 while the broader All Ordinaries index rose 0.18 percent to 8,554.40.
Uranium stocks Boss Energy and Deep Yellow surged over 7 percent each after Russia over the weekend banned enriched energy exports to the United States.
Across the Tasman, New Zealand's benchmark SP/NZX-50 index finished 0.63 percent higher at 12,764.65 after services PMI improved in October.
U.S. stocks fell sharply on Friday and the yield on the 10-year note touched a six-month high as recent economic data on inflation and retail sales coupled with comments from senior Fed officials, including Chair Jerome Powell, weakened the case for a December rate cut by the Federal Reserve.
Data showed earlier in the day that sales at retailers rose solidly in October, suggesting the economy still has plenty of momentum heading into the holiday shopping season.
Another report showing unexpected gains in both import and export prices added to worries about sticky inflation.
The tech-heavy Nasdaq Composite plunged 2.2 percent, the SP dropped 1.3 percent and the Dow shed 0.7 percent.
Yen Retreats After BoJ Ueda Comments Add Rate Hike Uncertainty
(RTTNews) - The Japanese yen retreated from recent highs against other major currencies in the Asian session on Monday, after the Bank of Japan Governor Kazuo Ueda said the future interest rate decisions will be data-dependent and avoided giving clear idea about the timing of the next rate hike.
At each monetary policy meeting, the BoJ will make policy decisions based on its assessment of economic activity and prices with the data and information available at the time of each meeting, Ueda told business leaders in Nagoya.
"The actual timing of the adjustments will continue to depend on developments in economic activity and prices as well as financial conditions going forward," he said.
Ueda said the bank will pay due attention to various risk factors, such as the course of overseas economies, especially the US economy and developments in financial and capital markets.
He avoided giving clear idea about the timing of the next interest rate hike. Markets expect a quarter-point increase at the next meeting in December.
In economic news, data from the Cabinet Office showed that the total value of core machine orders in Japan was down a seasonally adjusted 0.7% on Month in September, coming in at 852.0 billion yen. That missed forecasts for an increase of 1.4 percent following the 1.9 percent contraction in August.
On a yearly basis, core machine orders fell 4.8 percent after slumping 3.4 percent in the previous month
In the Asian trading, the yen fell to 163.50 against the euro and 174.62 against the Swiss franc, from a recent near 1-month highs of 162.27 and 173.41, respectively. The yen may test support near 166.00 against the euro and 178.00 against the franc.
Against the U.S. dollar, the yen advanced to 155.14 from a recent 6-day high of 153.84. The next possible downside target is seen around the 160.00 region.
The yen edged up to 195.99 against the pound, from a recent high of 194.73. If the yen extends its downtrend, it is likely to find support around the 200.00 region.
Looking ahead, Canada housing starts for October and U.S. NAHB housing market index for November, are due to be released in the New York session.
CPI Uptick, Fed Hints Boost Dollar Again
(RTTNews) - The U.S. dollar rallied against major currencies during the week ended November 15 amidst an expected uptick in consumer price inflation in the U.S. as well as hints from Jerome Powell that the Fed was in no hurry to cut rates.
The Dollar Index, which measures the U.S. Dollar's strength against a basket of 6 currencies jumped 1.61 percent during the week ended November 15, recording the seventh straight week of gains. The Index had added 0.69 percent during the week ended November 8, around 0.74 percent during the week ended October 25 and close to 0.58 percent during the week ended October 18.
Data released by the U.S. Bureau of Labor Statistics on Wednesday showed annual headline inflation rising as expected to 2.6 percent in October. The level increased from 2.4 percent in September which was the lowest reading since February 2021. An uptick was recorded in headline CPI after a gap of seven months. The core component however remained steady at 3.3 percent. The month-on-month inflation remained steady at 0.2 percent and core portion thereof was steady at 0.3 percent matching expectations.
Producer price inflation update for October released on Thursday showed an uptick to 0.2 percent from 0.1 percent, matching market expectations.
Also, data released on Thursday showed the number of people claiming unemployment benefits in the U.S. unexpectedly decreasing to 217 thousand in the week ended November 9 whereas markets had expected it to edge up to 223 thousand from 221 thousand in the previous week.
Federal Reserve Chair Jerome Powell on Thursday remarked that the economy was not sending any signals that needed the Fed to be in a hurry to lower rates. Acknowledging the strength of the economy, he said it gave the Fed the ability to approach decisions carefully. He also reiterated that inflation has eased substantially from its peak and was on a sustainable path to the goal of 2 percent. He also placed on record that the labor market has cooled to the point where it was no longer a source of significant inflationary pressures.
Data released by the U.S. Census Bureau on Friday showed month-on-month Retail Sales in the U.S. rising 0.4 percent in October versus market expectation of a rise of 0.3 percent. As per upwardly revised data, retail sales had grown 0.8 percent in September.
The Fed Chair's comments sobered rate cut expectations, and the CME FedWatch tool showed the likelihood of a 25-basis point Fed rate cut in December declining to 61.9 percent on Friday from 65.3 percent on Monday. Expectations of a status quo meanwhile increased to 38.1 percent from 34.7 percent on Monday.
The DXY touched a weekly low of 104.93 on Monday and climbed to a one-year high of 107.06 on Thursday, before slipping and eventually closing at 106.69 on Friday. The Index was at 105.00 a week before.
The euro tumbled against the U.S. Dollar during the week ended November 15 amidst the dollar's Fed-led strength and lingering worries of a protectionist U.S. trade policy. The EUR/USD pair declined to 1.0541 on November 15, from 1.0718 a week earlier, recording a decrease of 1.65 percent. The pair ranged between the high of 1.0727 recorded on Monday and the one-year low of 1.0496 touched on Thursday. Sentiment was also swayed by minutes of the latest monetary policy meeting of the European Central Bank released on Thursday. The discussions inter alia revealed the members acknowledging that the disinflationary process was well on track.
The U.S. Dollar surged against the British pound also during the week ended November 15 amidst a higher-than-expected increase in the unemployment rate in the U.K. that renewed hopes of rate cuts by the Bank of England. The GBP/USD pair which had closed at 1.2921 on November 8, tumbled 2.35 percent to 1.2617 by November 15. The pair ranged between Monday's high of 1.2926 and Friday's low of 1.2594. Data released on Friday showed U.K.'s third quarter GDP expanding 0.1 percent on quarter below 0.5 percent in the second quarter and forecasts of 0.2 percent. The smallest growth rate in three quarters also boosted rate cut hopes, weakening the sterling.
The Australian Dollar too plunged 1.81 percent against the U.S. Dollar during the week ended November 15, amidst toned down Fed rate cut expectations and weak Chinese economic data. The mixed employment data that cast uncertainty on the Reserve Bank of Australia's potential rate cut trajectory also shaped the currency's movements. The AUD/USD pair which had closed at 0.6580 on November 8 climbed to a high of 0.6598 on Monday before dropping to 0.6439 on Thursday. The pair finally closed at 0.6461 on Friday.
The past week also saw the Japanese yen incur losses against the U.S. Dollar. The USD/JPY pair which was at 152.63 on November 8 climbed to 154.34 in a week's time. The pair had touched a low of 152.62 on Monday and a multi-month high of 156.74 on Friday. The yen's weakness came amidst a hawkish Fed and a sharp decline in GDP that could limit the headroom available to the Bank of Japan to tighten rates further.
The Canadian dollar, the Swedish krona, and the Swiss franc that constitute the Dollar Index alongside the euro, British pound, and the Japanese yen also recorded losses of more than a percent against the greenback. The dollar gained 1.45 percent against the franc, 1.36 percent against the krona and 1.29 percent against the Canadian Dollar during the week ended November 15.
At the onset of the new week, the six-currency Dollar Index is firm above the flatline at 106.72. The EUR/USD pair has increased to 1.0549 amidst a pause in the Dollar's surge. The sterling has also firmed up to $1.2627. Ahead of the release of the minutes of the Reserve Bank of Australia, the AUD/USD pair has slipped to 0.6452. Amidst Bank of Japan Governor Kazuo Ueda desisting from giving firm timing of the next rate hike, the yen has weakened further, lifting the USD/JPY pair to 155.19.
CAC 40 Struggles For Direction Ahead Of Lagarde's Speech
(RTTNews) - French stocks struggled for direction on Monday as investors awaited speeches from ECB policymakers including chief Christine Lagarde later in the day for interest rate guidance.
Lingering concerns over potential impacts from U.S. President-elect Donald Trump's global economic policies also served to keep underlying sentiment cautious.
The benchmark CAC 40 was marginally lower at 7,269 after losing 0.6 percent on Friday.
Banks traded higher, with BNP Paribas, Credit Agricole and Societe Generale rising between half a percent and 1.2 percent.
Vivendi SA shares were down about 1 percent. The media company today announced its expectations for its audio, visual content provider Canal+, and public relations firm, Havas SA. The two units are scheduled to be listed next month.
DAX Inches Higher In Cautious Trade As Banks Gain
(RTTNews) - German stocks were modestly higher in cautious trade on Monday as investors awaited speeches from European Central Bank policymakers including chief Christine Lagarde later in the day for new hints about whether the central bank will cut interest rates again when it meets in December.
Upcoming regional inflation data, euro zone November flash PMIs and Nvidia earnings also remain on investors' radar.
The benchmark DAX was up 38 points, or 0.2 percent, at 19,248 after declining 0.3 percent on Friday.
Banks traded higher, with Commerzbank climbing 1.4 percent and Deutsche Bank adding 0.9 percent.
The EUR/USD consolidated above 1.0500 after Fed Chair Jerome Powell emphasized that there is no need to rush for interest-rate cuts.
European Shares Struggle For Direction Ahead Of ECB Lagarde's Speech
(RTTNews) - European stocks struggled for direction on Monday as investors awaited speeches from ECB policymakers including chief Christine Lagarde later in the day for interest rate guidance.
Lingering concerns over potential impacts from U.S. President-elect Donald Trump's global economic policies also served to keep underlying sentiment cautious.
The pan European STOXX 600 was down 0.3 percent at 501.67 after falling 0.8 percent on Friday.
The German DAX and France's CAC 40 both slid around 0.2 percent, while the U.K.'s FTSE 100 was up 0.1 percent.
The EUR/USD consolidated above 1.0500 ahead of key regional inflation data and euro zone November flash PMIs due later in the week.
Nvidia, the world's most valued company by market capitalization will declare its third quarter results on Wednesday, with traders watching for guidance about the company's demand for its Blackwell AI chips.
In corporate news, Dutch technology investor Prosus rallied 1.2 percent and Naspers, the owner of Takealot, Media24 and more, gained 1.6 percent after posting better-than-expected interim earnings.
Melrose Industries, the owner of aerospace parts maker GKN Aerospace, jumped 9 percent in London after reporting a 7 percent rise in revenue for the four-month period ended Oct. 31 and reiterating outlook for the rest of the year.
AstraZeneca fell more than 1 percent despite receiving EU approval for its lung cancer drug.
Elementis gained 1 percent. The specialty chemicals firm announced that its chief executive officer Paul Waterman would step down following nine years at the helm.
Vivendi SA shares were down about 1 percent. The French media company today announced its expectations for its audio, visual content provider Canal+, and public relations firm, Havas SA. The two units are scheduled to be listed next month.
Sensex, Nifty End Modestly Lower
(RTTNews) - Indian shares ended Monday's session modestly lower amid concerns over slowing earnings growth and a weakening rupee amidst continued foreign fund outflows.
Rising geopolitical risks also weighed on markets after fighting between Russia and Ukraine intensified over the weekend, and outgoing U.S. President Joe Biden authorized the first use of U.S.-supplied long-range missiles by Ukraine for strikes inside Russia.
The benchmark SP BSE Sensex ended the session down 241.30 points, or 0.31 percent, at 77,339.01, with IT, energy and healthcare stocks leading losses.
The broader NSE Nifty index closed at 23,453.80, down 78.90 points, or 0.34 percent, from its previous close.
Cipla, BPCL, Infosys, Dr Reddy's Laboratories and TCS fell 2-3 percent in the Nifty pack while Hindustan Unilever, Nestle India, Tata Steel and Hero MotoCorp gained 1-3 percent.
NALCO, Hindalco and Vedanta surged 3-9 percent after China withdrew export tax rebate on aluminum and copper products.
Gas distribution companies Mahanagar Gas and Indraprastha Gas fell 14 percent and 20 percent, respectively after the government, over the weekend, cut the Administered Price Mechanism (APM) allocation to the companies by 20 percent for the second consecutive month.
Thai GDP Expands Most In 2 Years
(RTTNews) - The Thai economy grew at the fastest pace in two years in the third quarter on strong investment, exports and government spending, data from the Office of the National Economic and Social Development Council showed Monday.
Gross domestic product climbed 3.0 percent on a yearly basis after rising by revised 2.2 percent in the second quarter. This was the fastest growth since the third quarter of 2022 and also surpassed economists' forecast of 2.6 percent.
On a quarterly basis, GDP was up 1.2 percent in the third quarter, faster than the 0.8 percent expansion a quarter ago. The growth rate was seen unchanged at 0.8 percent.
The government forecasts the Thai economy to expand 2.6 percent this year. For next year, GDP growth is seen in the range of 2.3 - 3.3 percent in 2025.
Capital Economics' economist Shivaan Tandon said the boost from loose fiscal policy will support growth in the coming quarters and help offset a slowdown in the tourism sector.
The expenditure-side of GDP showed that growth in household spending decelerated to 3.4 percent from 4.9 percent on a continued decline in durable goods expenditure. Meanwhile, government spending posted a notable 6.3 percent rise, following a 0.3 percent gain.
Marking the first expansion in four quarters, investment advanced 5.2 percent, following a 6.1 percent decrease in the second quarter. Private investment slid 2.5 percent, while public investment surged 25.6 percent.
Exports of goods and services posted a double-digit growth of 10.5 percent and imports of goods and services climbed 9.6 percent.
The production-side of GDP showed that economic growth was mainly attributed to a 3.2 percent rise in non-agriculture sector, propelled by expansion in service sector. Services output advanced 4.1 percent.
In contrast, the industrial sector growth decelerated to 1.2 percent, and agricultural production continued to decline, down 0.5 percent in the third quarter.
FTSE 100 Marginally Higher In Lackluster Trade
(RTTNews) - U.K. stocks were steady on Monday amid a quiet day on the economic front.
The benchmark FTSE 100 was marginally higher at 8,071 after closing 0.1 percent lower on Friday.
Melrose Industries, the owner of aerospace parts maker GKN Aerospace, jumped 9 percent after reporting a 7 percent rise in revenue for the four-month period ended Oct. 31 and reiterating outlook for the rest of the year.
Halma added half a percent. The safety equipment maker has acquired French firm Lamidey Noury Medical for around £42 million.
AstraZeneca fell more than 1 percent despite receiving EU approval for its lung cancer drug.
Elementis gained 1 percent. The specialty chemicals firm announced that its chief executive officer Paul Waterman would step down following nine years at the helm.
Eurozone Trade Surplus Increases In September
(RTTNews) - The euro area trade surplus increased notably in September as exports to the United States surged ahead of the presidential election in November that saw Donald Trump winning the race.
The trade surplus rose to EUR 12.5 billion in September from EUR 9.8 billion in the same period last year, data from Eurostat showed Monday.
Exports grew 0.6 percent on a yearly basis, offsetting the 2.8 percent decline in August. Meanwhile, imports dropped 0.6 percent, following the 2.7 percent fall in the previous month.
Shipments to the US grew 8.9 percent and imports from the US fell 4.9 percent. As a result, the trade surplus with the US increased to EUR 18.4 billion from EUR 13.3 billion a year ago.
The victory of Donald Trump in the US presidential election is likely to pose challenges to the EU exporters. In the election campaign, Trump advocated imposing tariffs of 10-20 percent on all imports and 60 percent on goods from China.
In September, there was a sharp increase in the surplus of machineries and vehicles to EUR 13.8 billion from EUR 9.7 billion, Eurostat data showed. At the same time, the energy deficit declined to EUR 22.3 billion from EUR 25.7 billion.
The trade surplus on a seasonally adjusted basis totaled EUR 13.6 billion compared to a EUR 10.8 billion surplus in August. On a monthly basis, exports climbed 0.4 percent, while imports decreased 0.8 percent.
During January to September, the trade surplus rose to EUR 140.8 billion from EUR 13.9 billion in the same period last year.
Nvidia's New Blackwell AI Chip Servers Reportedly Overheat
(RTTNews) - Nvidia Corp.'s new Blackwell AI chips are facing overheating issues that could delay new data centres, The Information reported citing customers, suppliers and employees working on the issue.
In pre-market activity on the Nasdaq, the shares were losing around 2.5 percent to trade at $138.47.
The news comes as the world's most valuable company by market capitalization is set to release its third-quarter earnings report on Wednesday.
The AI chipmaker had unveiled its next-generation AI superchip Blackwell graphics processing unit or GPU in March, amid the significant growth in demand for AI chips worldwide. The new chip is said to do some tasks 30 times faster than its predecessor.
The initial shipments of the Blackwell AI chips were originally set for second quarter of 2024, but were delayed reportedly due to the technical issues.
As per the report by the technology-focused publication, the company asked suppliers many times for change in design of the server racks for its new Blackwell GPU, with a view to fixing the overheating problem. The changes to the Blackwell racks came late in the production process.
At the launch time, Nvidia had noted that Blackwell had already been endorsed by Alphabet and Google, Amazon, Dell, Google DeepMind, Meta, Microsoft, OpenAI, Oracle, and Tesla and xAI.
As per the firm, Blackwell was being adopted by every major global cloud services provider, pioneering AI companies, system and server vendors, regional cloud service providers and telcos all around the world.
Further, in June, the company had announced its plan to release Blackwell Ultra, a high-powered version of its Blackwell chip, in 2025, and a new AI chip platform, Rubin, in 2026.
Based on the strength of surging demand for AI chips and the launch of new AI products, Nvidia in mid June had become the world's most valuable company, overtaking tech majors Microsoft Corp. and Apple Inc.
Following reports in September that the company received subpoenas from the U.S. Department of Justice as part of an antitrust probe, its value fell behind the two tech giants.
Nvidia's market cap currently stands at $3.483 trillion, compared to Microsoft's $3.085 trillion and Apple Inc.'s $3.401 trillion.
In early November, NVIDIA replaced Intel Corp. in the Dow Jones Industrial Average.
RBA Minutes On Tap For Tuesday
(RTTNews) - The Reserve Bank of Australia will on Tuesday release the minutes from its November 5 monetary policy meeting, highlighting a light day for Asia-Pacific economic activity.
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.
Malaysia will provide October figures for imports, exports and trade balance; in September, imports were up 10.9 percent on year and exports dipped an annual 0.3 percent for a trade surplus of MYR13.20 billion.
Rebound Anticipated For Singapore Stock Market
(RTTNews) - The Singapore stock market on Monday ended 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 above the 3,730-point plateau although it's likely to bounce higher again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The STI finished modestly lower on Monday following mixed performances from the financial shares, property stocks and industrial issues.
For the day, the index lost 12.15 points or 0.32 percent to finish at 3,732.55 after trading between 3,727.94 and 3,754.82.
Among the actives, CapitaLand Integrated Commercial Trust skidded 1.01 percent, while CapitaLand Investment advanced 0.72 percent, City Developments added 0.39 percent, DBS Group retreated 1.26 percent, DFI Retail surged 3.42 percent, Hongkong Land tanked 2.14 percent, Keppel DC REIT sank 0.45 percent, Keppel Ltd rose 0.30 percent, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust rallied 0.81 percent, SATS plunged 2.60 percent, Seatrium Limited declined 1.08 percent, SembCorp Industries tumbled 1.37 percent, Singapore Technologies Engineering plummeted 5.52 percent, SingTel dropped 0.63 percent, Thai Beverage jumped 0.97 percent, Wilmar International spiked 1.31 percent, Yangzijiang Shipbuilding slumped 0.79 percent and Emperador, Genting Singapore, Yangzijiang Financial, Frasers Logistics Commercial Trust, Oversea-Chinese Banking Corporation, Frasers Centrepoint Trust, Mapletree Logistics Trust and Comfort DelGro were unchanged.
The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.
The Dow shed 55.39 points or 0.13 percent to finish at 43,389.60, while the NASDAQ climbed 111.69 points or 0.60 percent to close at 18,791.81 and the SP 500 added 23.00 points or 0.39 percent to end at 5,893.62.
The strength on Wall Street reflected bargain hunting as traders look to pick up stocks at reduced levels following last week's steep drop amid concerns about the outlook for interest rates.
In U.S. economic news, the National Association of Home Builders said homebuilder confidence has improved much more than anticipated in November, hitting its highest level since April.
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.
China Bourse May Halt Losing Streak On Tuesday
(RTTNews) - The China stock market has finished lower in three straight sessions, slumping almost 120 points or 3.7 percent along the way. The Shanghai Composite now sits just beneath the 3,325-point plateau although it's due for support on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The SCI finished slightly lower on Monday as losses from the resource stocks were mitigated by support from the financial shares and properties.
For the day, the index slipped 6.88 points or 0.,21 percent to finish at 3,323.85 after trading between 3,309.01 and 3,386.90. The Shenzhen Composite Index stumbled 43.83 points or 2.18 percent to end at 1,966.78.
Among the actives, Industrial and Commercial Bank of China accelerated 2.31 percent, while Bank of China spiked 2.88 percent, China Construction Bank climbed 1.01 percent, China Merchants Bank rose 0.21 percent, Agricultural Bank of China collected 2.13 percent, China Life Insurance was up 0.09 percent, Jiangxi Copper fell 0.23 percent, Aluminum Corp of China (Chalco) tumbled 2.26 percent, Yankuang Energy improved 0.58 percent, PetroChina and China Vanke both strengthened 1.49 percent, China Petroleum and Chemical (Sinopec) gained 0.63 percent, Huaneng Power rallied 1.40 percent, China Shenhua Energy soared 3.21 percent, Gemdale jumped 1.90 percent and Poly Developments added 0.69 percent.
The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.
The Dow shed 55.39 points or 0.13 percent to finish at 43,389.60, while the NASDAQ climbed 111.69 points or 0.60 percent to close at 18,791.81 and the SP 500 added 23.00 points or 0.39 percent to end at 5,893.62.
The strength on Wall Street reflected bargain hunting as traders look to pick up stocks at reduced levels following last week's steep drop amid concerns about the outlook for interest rates.
In U.S. economic news, the National Association of Home Builders said homebuilder confidence has improved much more than anticipated in November, hitting its highest level since April.
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.
Indonesia Stock Market Due For Support On Tuesday
(RTTNews) - The Indonesia stock market has finished lower in four straight sessions, shedding almost 190 points or 2.5 percent along the way. The Jakarta Composite Index now rests just beneath the 7,135-point plateau although it may stop the bleeding on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The JCI finished modestly lower on Monday following losses from the financial shares and mixed performances from the cement and resource companies.
For the day, the index shed 26.98 points or 0.38 percent to finish at 7,134.28 after trading between 7,118.87 and 7,174.75.
Among the actives, Bank CIMB Niaga sank 0.84 percent, while Bank Mandiri fell 0.39 percent, Bank Danamon Indonesia shed 0.40 percent, Bank Negara Indonesia declined 0.81 percent, Bank Central Asia tumbled 1.72 percent, Bank Rakyat Indonesia tanked 2.68 percent, Indosat Ooredoo Hutchison dropped 0.88 percent, Indocement lost 0.72 percent, Semen Indonesia rose 0.28 percent, United Tractors surrendered 2.64 percent, Astra International dipped 0.20 percent, Energi Mega Persada rallied 3.15 percent, Astra Agro Lestari stumbled 2.70 percent, Aneka Tambang slid 0.36 percent, Jasa Marga slumped 0.44 percent, Vale Indonesia plunged 3.40 percent, Timah retreated 0.76 percent, Bumi Resources surged 2.68 percent and Bank Maybank Indonesia and Indofood Sukses Makmur were unchanged.
The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.
The Dow shed 55.39 points or 0.13 percent to finish at 43,389.60, while the NASDAQ climbed 111.69 points or 0.60 percent to close at 18,791.81 and the SP 500 added 23.00 points or 0.39 percent to end at 5,893.62.
The strength on Wall Street reflected bargain hunting as traders look to pick up stocks at reduced levels following last week's steep drop amid concerns about the outlook for interest rates.
In U.S. economic news, the National Association of Home Builders said homebuilder confidence has improved much more than anticipated in November, hitting its highest level since April.
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.
Malaysia Stock Market Poised To Open To The Upside On Tuesday
(RTTNews) - The Malaysia stock market on Monday snapped 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 and it's tipped to open in the green again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The KLCI finished modestly higher on Monday following gains from the telecoms and plantations, while the financial and industrial sectors were mixed.
For the day, the index improved 11.60 points or 0.73 percent to finish at 1,604.04 after trading between 1,591.49 and 1,605.41.
Among the actives, Axiata rallied 1.34 percent, while Celcomdigi strengthened 1.20 percent, CIMB Group was up 0.24 percent, Genting gained 0.53 percent, Genting Malaysia jumped 1.42 percent, IHH Healthcare eased 0.14 percent, IOI Corporation accelerated 1.53 percent, Kuala Lumpur Kepong gathered 0.46 percent, Maxis surged 3.78 percent, Maybank dipped 0.19 percent, MISC sank 0.66 percent, MRDIY added 0.55 percent, Nestle Malaysia slid 0.20 percent, Petronas Chemicals fell 0.22 percent, PPB Group dropped 0.70 percent, Press Metal skyrocketed 6.59 percent, Public Bank collected 0.67 percent, QL Resources improved 0.84 percent, RHB Bank rose 0.47 percent, Sime Darby perked 0.45 percent, SD Guthrie soared 2.29 percent, Sunway spiked 1.72 percent, Telekom Malaysia increased 0.48 percent, Tenaga Nasional climbed 1.13 percent, YTL Corporation shed 0.51 percent and YTL Power was unchanged.
The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.
The Dow shed 55.39 points or 0.13 percent to finish at 43,389.60, while the NASDAQ climbed 111.69 points or 0.60 percent to close at 18,791.81 and the SP 500 added 23.00 points or 0.39 percent to end at 5,893.62.
The strength on Wall Street reflected bargain hunting as traders look to pick up stocks at reduced levels following last week's steep drop amid concerns about the outlook for interest rates.
In U.S. economic news, the National Association of Home Builders said homebuilder confidence has improved much more than anticipated in November, hitting its highest level since April.
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.
Closer to home, Malaysia will provide October figures for imports, exports and trade balance later today; in September, imports were up 10.9 percent on year and exports dipped an annual 0.3 percent for a trade surplus of MYR13.20 billion.
Energy, Mining Stocks Lift TSX
(RTTNews) - 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.
The Materials Capped Index climbed 2.84%, and the Energy Capped Index moved up 1%. Consumer staples stocks closed weak.
Pan American Silver Corp (PAAS.TO) rallied 5.5%. Endeavour Mining Plc (EDV.TO), Lundin Gold (LUG.TO), Torex Gold Resources (TXG.TO), Cameco Corporation (CCO.TO), Agnico Eagle Mines (AEM.TO), Franco-Nevada Corporation (FNV.TO), Wheaton Precious Metals (WPM.TO) and Newmont Corporation (NGT.TO) gained 3 to 4.5%.
Methanex Corporation (MX.TO), Capital Power Corporation (CPX.TO), Stella-Jones (SJ.TO), Teck Resources (TECK.B.TO), Bank of Nova Scotia (BNS.TO), Sprott Inc (SII.TO), TerraVest Industries (TVK.TO), Bombardier Inc (BBD.B.TO), GFL Environmental (GFL.TO) and Celestia Inc (CLS.TO), Restaurant Brands International (QSR.TO) and CGI Inc (GIB.A.TO) closed up 1.5 to 3%.
Mattr Corp (MATR.TO), Boralex Inc. (BLX.TO), Shopify Inc (SHOP.TO), Open Text Corporation (OTEX.TO), Quebecor Inc (QBR.B.TO), Loblaw Companies (L.TO), Nutrien (NTR.TO), George Weston (WN.TO), Onex Corporation (ONEX.TO) and Linamar Corporation (LNR.TO) were among the notable losers.
On the economic front, data from Canada Mortgage Housing Corporation showed housing starts in Canada increased by 7.8% month-over-month to 240,761 units in October, the highest level in three months.
Hong Kong Stock Market May Extend Monday's Gains
(RTTNews) - The Hong Kong stock market on Monday snapped the six-day losing streak in which it had plummeted more than 1,610 points or 7.6 percent. The Hang Seng Index now sits just above the 19,575-point plateau and it's expected to open to the upside again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The Hang Seng finished modestly higher on Monday following gains from the financial shares and entertainment stocks, while the property and technology companies were mixed.
For the day, the index advanced 150.27 points or 0.77 percent to finish at 19,576.61 after trading between 19,470.43 and 19,781.08.
Among the actives, Alibaba Group slumped 1.03 percent, while Alibaba Health Info slid 0.26 percent, ANTA Sports fell 0.31 percent, China Life Insurance collected 1.30 percent, China Mengniu Dairy dropped 0.83 percent, China Resources Land advanced 1.06 percent, CITIC rallied 1.37 percent, CNOOC climbed 1.31 percent, CSPC Pharmaceutical and Techtronic Industries both dipped 0.19 percent, Galaxy Entertainment added 0.31 percent, Haier Smart Home plummeted 3.04 percent, Hang Lung Properties sank 0.47 percent, Henderson Land retreated 1.20 percent, Hong Kong China Gas skidded 1.00 percent, Industrial and Commercial Bank of China soared 3.04 percent, JD.com surged 3.62 percent, Lenovo plunged 2.07 percent, Li Auto improved 0.74 percent, Li Ning shed 0.37 percent, Meituan lost 0.35 percent, New World Development tumbled 1.52 percent, Nongfu Spring jumped 1.94 percent, Xiaomi Corporation spiked 2.86 percent and WuXi Biologics declined 1.07 percent.
The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.
The Dow shed 55.39 points or 0.13 percent to finish at 43,389.60, while the NASDAQ climbed 111.69 points or 0.60 percent to close at 18,791.81 and the SP 500 added 23.00 points or 0.39 percent to end at 5,893.62.
The strength on Wall Street reflected bargain hunting as traders look to pick up stocks at reduced levels following last week's steep drop amid concerns about the outlook for interest rates.
In U.S. economic news, the National Association of Home Builders said homebuilder confidence has improved much more than anticipated in November, hitting its highest level since April.
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.
South Korea Shares May Add To Their Winnings On Tuesday
(RTTNews) - The South Korea stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had plunged almost 250 points or 5.8 percent. The KOSPI now sits just beneath the 2,470-point plateau and it may tick higher again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The KOSPI finished sharply higher on Monday following strong gains from the technology stocks and industrials, while the financials also were mostly in the green.
For the day, the index surged 52.21 points or 2.16 percent to finish at 2,469.07 after trading between 2,437.53 and 2,480.01. Volume was 431.2 million shares worth 10.4 trillion won. There were 614 gainers and 282 decliners.
Among the actives, Shinhan Financial fell 0.37 percent, while KB Financial collected 2.12 percent, Hana Financial jumped 1.86 percent, Samsung Electronics surged 5.98 percent, Samsung SDI skyrocketed 6.49 percent, LG Electronics strengthened 1.81 percent, SK Hynix stumbled 3.65 percent, Naver rose 0.42 percent, LG Chem spiked 4.14 percent, Lotte Chemical plummeted 10.22 percent, SK Innovation rallied 6.04 percent, POSCO climbed 4.50 percent, SK Telecom slumped 1.07 percent, KEPCO improved 4.42 percent, Hyundai Mobis gained 2.78 percent, Hyundai Motor accelerated 5.34 percent and Kia Motors soared 5.57 percent.
The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.
The Dow shed 55.39 points or 0.13 percent to finish at 43,389.60, while the NASDAQ climbed 111.69 points or 0.60 percent to close at 18,791.81 and the SP 500 added 23.00 points or 0.39 percent to end at 5,893.62.
The strength on Wall Street reflected bargain hunting as traders look to pick up stocks at reduced levels following last week's steep drop amid concerns about the outlook for interest rates.
In U.S. economic news, the National Association of Home Builders said homebuilder confidence has improved much more than anticipated in November, hitting its highest level since April.
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.
Taiwan Shares May Bounce Higher Again On Tuesday
(RTTNews) - The Taiwan stock market turned lower again on Monday, one session after ending 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 22,550-point plateau and it may see additional support on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The TSE finished modestly lower on Monday following mixed performances from the financial shares and the technology companies.
For the day, the index dropped 196.23 points or 0.86 percent to finish at 22,546.54 after trading between 22,503.69 and 22,781.77.
Among the actives, Cathay Financial rose 0.15 percent, while Mega Financial collected 1.15 percent, First Financial improved 1.28 percent, Fubon Financial retreated 1.32 percent, E Sun Financial climbed 1.12 percent, Taiwan Semiconductor Manufacturing Company dropped 0.97 percent, United Microelectronics Corporation perked 0.22 percent, Hon Hai Precision tanked 2.17 percent, Largan Precision stumbled 3.10 percent, Catcher Technology increased 1.24 percent, MediaTek surrendered 2.36 percent, Delta Electronics was up 0.13 percent, Novatek Microelectronics strengthened 1.44 percent, Formosa Plastics surged 5.98 percent, Nan Ya Plastics soared 4.21 percent, Asia Cement slumped 2.06 percent and CTBC Financial was unchanged.
The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.
The Dow shed 55.39 points or 0.13 percent to finish at 43,389.60, while the NASDAQ climbed 111.69 points or 0.60 percent to close at 18,791.81 and the SP 500 added 23.00 points or 0.39 percent to end at 5,893.62.
The strength on Wall Street reflected bargain hunting as traders look to pick up stocks at reduced levels following last week's steep drop amid concerns about the outlook for interest rates.
In U.S. economic news, the National Association of Home Builders said homebuilder confidence has improved much more than anticipated in November, hitting its highest level since April.
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.
Australian Market Significantly Higher
(RTTNews) - Adding to the gains in the previous three sessions, the Australian stock market is trading significantly higher on Tuesday, following the mixed cues from Wall Street overnight. The benchmark SP/ASX 200 is moving well above the 8,300 level, with gains across most sectors led by energy and mining stocks amid upbeat commodity prices.
The benchmark SP/ASX 200 Index is gaining 64.90 points or 0.78 percent to 8,365.10, after touching a high of 8,367.60 earlier. The broader All Ordinaries Index is up 65.60 points or 0.77 percent to 8,620.00. Australian stocks closed slightly higher on Monday.
Among the major miners, BHP Group, Mineral Resources and Rio Tinto are edging down 0.2 to 0.5 percent each, while Fortescue Metals is losing almost 2 percent.
Oil stocks are mostly higher. Origin Energy is gaining almost 1 percent and Santos is advancing more than 2 percent, while Woodside Energy and Beach energy are adding almost 2 percent each.
Among tech stocks, Afterpay owner Block is surging more than 6 percent, Zip is gaining 1.5 percent and Appen is adding more than 2 percent, while WiseTech Global and Xero are advancing almost 3 percent each.
Gold miners are mostly higher. Gold Road Resources, Newmont and Northern Star resources are gaining more than 2 percent each, while Evolution Mining is adding almost 3 percent and Resolute Mining is skyrocketing almost 16 percent.
Among the big four banks, Commonwealth Bank, Westpac and National Australia Bank are gaining almost 1 percent each, while ANZ Banking is flat.
In other news, shares in TechnologyOne are climbing more than 11 percent after the enterprise software company posted a 15 percent increase in full-year net profit and booked a 17 percent jump in revenue. It also declared a full-year dividend of 22.45¢ apiece.
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 currency market, the Aussie dollar is trading at $0.650 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.
