Australian Market Trims Early Losses In Mid-market

RTTNews | 1h 5min ago

(RTTNews) - The Australian stock market is trimming its early losses in mid-market trading on Monday, extending the slight losses in the previous session, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling well below the 8,750.00 level, with weakness in mining stocks partially offset by gains in financial stocks. Most other sectors were mixed.

The benchmark S&P/ASX 200 Index is losing 6.10 points or 0.07 percent to 8,725.10, after hitting a low of 8,681.10 earlier. The broader All Ordinaries Index is down 8.80 points or 0.10 percent to 8,913.90. Australian stocks closed slightly lower on Friday.

Among the major miners, BHP Group, Fortescue and Rio Tinto are losing almost 1 percent each, while Mineral Resources is gaining more than 1 percent.

Oil stocks are mostly higher. Beach energy is edging up 0.2 percent and Santos is gaining more than 1 percent, while Woodside Energy is losing almost 1 percent. Origin Energy is flat.

Among tech stocks, Afterpay owner Block is edging up 0.1 percent and Zip is gaining more than 2 percent, while Xero is declining almost 4 percent, WiseTech Global is losing more than 2 percent and Appen is edging down 0.3 percent

Gold miners are weak. Genesis Minerals is edging down 0.5 percent, Newmont is declining almost 2 percent and Resolute Mining is tumbling almost 9 percent, while Northern Star Resources and Evolution Mining are losing almost 1 percent each.

Among the big four banks, Commonwealth Bank and Westpac are edging up 0.3 to 0.4 percent each, while ANZ Banking and National Australia Bank are gaining almost 1 percent each.

In other news, shares in Perpetual Ltd. are tumbling almost 14 percent after rejecting a sweetened takeover proposal from EQT Group and confirmed the end of discussions.

Shares in Telix Pharmaceuticals are slipping almost 7 percent after announcing a merger with German company ITM Isotope Technologies Munich SE.

In the currency market, the Aussie dollar is trading at $0.712 on Monday.

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Monday, following the mixed cues from Wall Street on Friday, as crude oil prices continued to fall amid signs of increased diplomatic efforts to resolve the conflict and restore energy flows in the Middle East, easing concerns over global inflation and the prospect of further interest rate hikes. Asian markets closed mostly higher on Friday.

RTTNews | 1h 9min ago

Indian Shares Set For Cautious Open

Indian shares may open flat to slightly lower on Monday despite gains elsewhere across Asia and higher U.S. equity futures as oil prices fell for a fourth day amid ongoing diplomatic efforts to end the U.S.-Iran conflict.

RTTNews | 1h 38min ago

Rally May Stall For Thai Stock Market

The Thai stock market has moved higher in back-to-back sessions, collecting more than 20 points or 1.4 percent in that span. The Stock Exchange of Thailand now sits just above the 1,580-point plateau although it may ebb on Monday.

RTTNews | 2h 24min ago

Indonesia Stock Market Has Flat Lead For Monday

The Indonesia stock market headed south again on Friday, one day after halting the six-day losing streak in which it had tumbled more than 250 points or 3.8 percent. The Jakarta Composite Index now sits just above the 6,440-point plateau and it figures to see little movement again on Monday.

RTTNews | 2h 54min ago

Australian Markets Slightly Lower

The Australian stock market is slightly lower on Monday, extending the slight losses in the previous session, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling well below the 8,750.00 level, with weakness in mining stocks and a mixed performance in most other sectors.

RTTNews | 3h 0min ago

Little Movement Expected For Hang Seng

The Hong Kong stock market has alternated between positive and negative finishes through the last five trading days since the end of the five-day losing streak in which it had given up more than 850 points or 3 percent. The Hang Seng Index now sits just above the 24,750-point plateau and it's likely to be rangebound again on Monday.

RTTNews | 3h 9min ago

China Stock Market May Remain Rangebound On Monday

The China stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had slumped more than 85 points or 2.3 percent. The Shanghai Composite Index now sits just above the 3,910-point plateau although it may spin its wheels on Monday.

RTTNews | 3h 24min ago

Taiwan Stock Market Due For Profit Taking

The Taiwan stock market has tracked higher in three straight sessions, surging almost 2,300 points or 5 percent along the way. The Taiwan Stock Exchange now sits just beneath the 47,370-point plateau although investors may lock in gains on Monday.

RTTNews | 3h 54min ago

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