DAX Retreats On Growth, Inflation Concerns

RTTNews | 1470 days ago
DAX Retreats On Growth, Inflation Concerns

(RTTNews) - German stocks fell sharply on Thursday amid worries that aggressive rate hikes by the Federal Reserve and other central banks in Europe and Asia will dent economic growth.

Germany's manufacturing sector contracted for a second month in a row in August, a survey showed earlier today, while retail sales rose unexpectedly in July as a result of a COVID-free summer tourism season.

Germany's central bank head said Wednesday that "inflation rates will not come back to their target by themselves" and the European Central Bank should act "decisively" to preserve the credibility of its inflation target.

The benchmark DAX was down 183 points, or 1.4 percent, at 12,651 after declining 1 percent in the previous session.

Flag carrier Deutsche Lufthansa fell nearly 3 percent after a pilots' trade union decided on a day-long strike for Friday, September 2, following a warning strike by ground staff in July,

Tech stocks were losing ground, with Infineon down 2.5 percent.

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Losing Streak May Continue For Thai Stock Market

Losing Streak May Continue For Thai Stock Market

The Thai stock market has moved lower in back-to-back sessions, sinking more than 5 points or 0.3 percent along the way. The Stock Exchange of Thailand now sits just above the 1,615-point plateau and it's tipped to open under water again on Friday.
RTTNews | 1h 2min ago
Japanese Market Sharply Lower

Japanese Market Sharply Lower

The Japanese market is trading sharply lower on Friday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 63,550 level, with weakness in index heavyweights, exporters and technology stocks partially offset by gains in automakers.
RTTNews | 1h 25min ago
Indonesia Stock Market Tipped To Open In The Red

Indonesia Stock Market Tipped To Open In The Red

The Indonesia stock market has finished lower in two straight sessions, surrendering almost 100 points or 1.4 percent in that span. The Jakarta Composite Index now rests just beneath the 6,590-point plateau and it may continued selling pressure on Friday.
RTTNews | 1h 32min ago
No Help Yet For Hong Kong Stock Market

No Help Yet For Hong Kong Stock Market

The Hong Kong stock market has moved lower in three straight sessions, sliding more than 650 points or 2.6 percent along the way. The Hang Seg Index now sits just above the 24,950-point plateau and it's likely to extend its losses on Friday.
RTTNews | 1h 47min ago
Australian Market Sharply Lower

Australian Market Sharply Lower

The Australian stock market is trading sharply lower on Friday, extending the losses in the previous three sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,750 level, with weakness in mining and technology stocks partially offset by gains in financial and energy stocks.
RTTNews | 1h 54min ago
Soft Start Anticipated For China Stock Market

Soft Start Anticipated For China Stock Market

The China stock market on Thursday ended the three-day winning streak in which it had risen more than 20 points or 0.5 percent. The Shanghai Composite Index now sits just above the 3,930-point plateau and it's expected to see continued consolidation on Friday.
RTTNews | 2h 2min ago
Lower Open Called For Taiwan Stock Market

Lower Open Called For Taiwan Stock Market

The Taiwan stock market has finished lower in two of three trading days since the end of the two-day winning streak in which it had advanced almost 1,475 points or 3.5 percent. The Taiwan Stock Exchange now sits just above the 46,940-point plateau and it's looking at another soft start again on Friday.
RTTNews | 2h 32min ago