Taiwan stock market expected to head south again
The Taiwan stock market on Thursday snapped the three-day losing streak in which it had stumbled almost 250 points or 1.4 percent. The Taiwan Stock Exchange now sits just above the 17,300-point plateau although it’s tipped to see renewed consolidation on Friday. The global forecast for the Asian markets is mixed to lower, thanks to coronavirus concerns and sinking crude oil prices. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference. The TSE finished slightly higher on Thursday following mixed performances from the financial shares and the technology stocks. For the day, the index added 33.84 points or 0.20 percent to finish at 17,304.33 after trading between 17,122.95 and 17,319.09. Among the actives, Cathay Financial collected 0.34 percent, while Mega Financial lost 0.62 percent, CTBC Financial dipped 0.22 percent, First Financial dropped 0.89 percent, United Microelectronics Corporation spiked 2.58 percent, Hon Hai Precision shed 0.47 percent, Largan Precision rose 0.19 percent, Catcher Technology advanced 0.97 percent, MediaTek skidded 1.21 percent, Delta Electronics fell 0.37 percent, Formosa Plastic declined 1.39 percent, Asia Cement sank 0.89 percent, Taiwan Cement retreated 0.72 percent and Taiwan Semiconductor Manufacturing Company, Fubon Financial and E Sun Financial were unchanged.
Sensex ends 55 pts higher
The Sensex closed at 58,305.07, up 54.81 points or 0.09 percent, while Nifty was at 17,369.25, up 15.75 points or 0.09 percent. Bank, financials, realty were top drags
Sensex, Nifty closed 0.09 percent higher on Thursday. All eyes will be on the Union commerce minister Piyush Goyal’s press conference at 4 pm. Markets are anticipating the European Central Bank’s policy decision as it is expected to claw back stimulus on Thursday, taking a token step towards unwinding the pandemic mandated emergency aid.
France stocks higher at close of trade
France stocks were higher after the close on Thursday, as gains in the Foods & Drugs, Gas & Water and General Financial sectors led shares higher.
At the close in Paris, the CAC 40 rose 0.24 percent, while the SBF 120 index added 0.19 percent.
Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 302 to 290 and 100 ended unchanged.
Shares in Alstom SA fell to 52-week lows; down 2.22 percent or 0.74 to 32.64.
The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0 percent to 18.96 a new 6-months high.
Gold Futures for December delivery was up 0.03 percent or 0.60 to $1794.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October fell 0.04 percent or 0.03 to hit $69.27 a barrel, while the November Brent oil contract fell 0.17 percent or 0.12 to trade at $72.48 a barrel.
FTSE 100 records worst session in 3 weeks
Britain’s export-heavy FTSE 100 ended lower on Thursday weighed by a strengthening pound and concerns over slowing economic growth, while easyJet’s share sale plan sent the British airline to the bottom of the mid-cap index.
The blue-chip index ended down 1.0 percent, recording its worst session in three weeks with consumer staple and pharmaceutical stocks weighing the most.
The domestically focused mid-cap FTSE 250 index fell 0.2 percent.
The FTSE 100, which jumped around 26 percent from October lows, is on course to end the week in the red as the rising spread of the Delta variant of coronavirus and supply chain issues raised worries of a slowdown in economic recovery.
Stocks end lower; Nasdaq and S&P 500 are on pace
Stocks lost more ground on Wall Street on Thursday after a small early gain faded, keeping the Standard & Poor’s 500 index and the Nasdaq headed for their first weekly decline in three weeks.
The S&P 500 fell 0.5 percent, its fourth straight drop. Healthcare and technology companies were the biggest weights on the benchmark index, offsetting gains by banks and energy stocks.
The latest pullback came as investors continue to assess the pace of economic growth amid worries that the rapid spread of the coronavirus’ Delta variant will damp consumer confidence and spending.
Canada stocks-Tsx loses ground for third day as ‘fatigue’ sets in
Canada’s main stock index extended its pull back from a recent record high as shares of industrial and consumer staple companies declined, with investors turning more cautious as the market enters a seasonally soft patch.
The Toronto Stock Exchange’s S&P/TSX composite index ended down 36.52 points, or 0.2 percent, at 20,705.27.
The index notched on Tuesday a record intraday high of 20,897.57 before closing lower. It also lost ground on Wednesday.
“Investor sentiment was running fairly hot in North American markets for almost all of 2021 and now we’re into a seasonal period that can be a little bit more challenging,” said Mike Archibald, portfolio manager at AGF Investments.
“There is a little level of market fatigue here … and there’s just probably a little reset that’s going to happen in the marketplace.”
Shares on Wall Street also ended lower after economic data stoked worries the Fed could move sooner than expected to scale back its accommodative policies.