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Steady Start Seen For Japan Stock Market
The Japanese stock market has finished lower in back-to-back sessions, dropping more than 400 points of 0.7 percent along the way. The Nikkei now sits just beneath the 62,420-point plateau although it may find traction on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside as ambiguity continues to reign in the Middle East. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.
The Nikkei finished modestly lower on Monday following mixed performances from the financial shares, technology stocks and automobile producers.
For the day, the index sank 295.77 points or 0.47 percent to finish at 62,417.88 after trading between 62,380.62 and 63,385.04.
Among the actives, Nissan Motor accelerated 1.30 percent, while Mazda Motor rose 0.31 percent, Toyota Motor retreated 1.48 percent, Honda Motor declined 1.42 percent, Softbank Group plunged 6.33 percent, Mitsubishi UFJ Financial jumped 1.78 percent, Mizuho Financial collected 1.76 percent, Sumitomo Mitsui Financial rallied 2.07 percent, Mitsubishi Electric fell 0.20 percent, Sony Group surged 8.29 percent, Panasonic Holdings added 0.48 percent and Hitachi slumped 1.03 percent.
The lead from Wall Street suggests mild upside as the major averages opened mixed on Monday and largely hugged the line throughout the session, finishing with slight gains.
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122 days ago
KOSPI Overdue For Consolidation On Tuesday
The South Korea stock market has finished higher in five straight sessions, surging more than 1,225 points or 16.9 percent in that span. Now at a fresh record closing high, the KOSPI sits just above the 7,820-point plateau although investors may cash in on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside as ambiguity continues to reign in the Middle East. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.
The KOSPI finished sharply higher on Monday following gains from the technology stocks and automobile producers, while the financials were soft and the chemicals were mixed.
For the day, the index skyrocketed 324.24 points or 4.32 percent to finish at 7,822.24 after trading between 7,713.49 and 7,899.32. Volume was 723.4 million shares worth 50.2 trillion won. There were 735 gainers and 147 decliners.
Among the actives, Shinhan Financial sank 0.82 percent, while KB Financial tumbled 1.79 percent, Hana Financial perked 0.08 percent, Samsung Electronics rallied 6.33 percent, Samsung SDI added 1.51 percent, LG Electronics gained 1.69 percent, SK Hynix surged 11.51 percent, Naver slumped 1.63 percent, LG Chem dropped 1.40 percent, Lotte Chemical vaulted 6.61 percent, SK Innovation stumbled 1.48 percent, POSCO Holdings tanked 2.48 percent, SK Telecom jumped 5.03 percent, KEPCO surrendered 1.93 percent, Hyundai Mobis soared 8.64 percent, Hyundai Motor accelerated 5.38 percent and Kia Motors jumped 6.20 percent.
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122 days ago
Japan Household Spending Data Due On Tuesday
Japan will on Tuesday release March figures for household spending, highlighting a light day for Asia-Pacific economic activity. Spending is expected to rise 0.6 percent on month and fall 1.6 percent on year after adding 1.5 percent on month and dropping 1.8 percent on month in February.
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122 days ago
U.S. Dollar Ticks Higher After U.S. Rejects Iran's Proposal To End Gulf War
The U.S. Dollar value ended nearly flat after U.S. President Donald Trump rejected Iran's response to a U.S.-offered plan to end the gulf war. However, expectations of traders that the upcoming meeting between U.S. and Chinese premiers could yield a solution to the crisis capped the gains.
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122 days ago
Canadian Market Up Marginally; Energy, Materials Stocks Move Higher
The Canadian market is up marginally around mid-afternoon on Monday thanks to strong gains in energy and materials stocks, which are riding on firm commodity prices. Technology, consumer staples, industrials and consumer discretionary stocks are mostly down, limiting market's upside.
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123 days ago
Swiss Market Ends Flat After Choppy Session
The Switzerland stock market ended flat on Monday after stocks swung between gains and losses as investors continued to react to earnings updates and news from the geopolitical scene.
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123 days ago
European Stocks Close Mixed As Markets React To Earnings, U.S.-Iran Conflict News
European stocks closed on a mixed note Monday as U.S.-Iran peace talks stalled after U.S. President Donald Trump rejected Iran's latest proposal to end the conflict, calling it "totally unacceptable."
Investors also reacted to a slew of corporate earnings updates.
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123 days ago
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U.S. Existing Home Sales Rebound Much Less Than Expected In April
After reporting a sharp pullback by U.S. existing home sales in the previous month, the National Association of Realtors released a report on Monday showing existing home sales rebounded by much less than expected in the month of April. NAR said existing home sales crept up by 0.2 percent to an annual rate of 4.02 million in April.
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123 days ago
Yen Falls As Japan Intervention Risks
The Japanese yen weakened against other major currencies in the European session on Monday, due to worries about Japanese authorities intervening in the foreign exchange market.
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123 days ago
Bay Street Likely To Open Weak
The Canadian stock market is likely to open with a negative bias on Monday, weighed down by Middle East concerns due to failed peace talks.
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123 days ago
Subdued Futures Point To Flat Or Slightly Negative Start
Subdued futures and higher oil prices amid concerns about the Middle East conflict point to a flat to slightly negative start for U.S. stocks on Monday.
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123 days ago
UK Stocks Turning In Mixed Performance
UK stocks turned in a mixed performance on Monday with investors largely making cautious moves amid concerns about Middle East conflict following U.S. President Donald Trump rejecting Iran's latest proposal to end the conflict.
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123 days ago
CAC 40 Shed More Than 1%
France's benchmark index CAC 40 drifted lower on Monday as stocks from across several sectors fell on selling pressure as U.S.-Iran peace talks failed following U.S. President Donald Trump rejecting Iran's latest proposal to end the conflict. Higher crude oil prices weighed as well on sentiment.
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123 days ago
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