Asian stock markets drift lower as investors ponder economic stimulus for China

HONG KONG - Most Asian stock markets drifted lower Tuesday in thin trade as investors pondered the outlook for more economic stimulus from China.

See Full Article

KEEPING SCORE: Japan's benchmark Nikkei 225 index lost 0.1 per cent to 18,892.81 while South Korea's Kospi lost 0.3 per cent to 1,975.24. Hong Kong's Hang Seng dipped 0.1 per cent to 21,765.44 while the Shanghai Composite Index in mainland China shed 0.3 per cent to 3,631.82. Australia's S&P/ASX 200 crept up 0.1 per cent to 5,115.30.

CHINA ECONOMY: Leaders in Beijing wrapped up their annual planning meeting Monday with renewed promises to promote economic growth. The Chinese government said it would be more proactive and flexible when it comes to using fiscal and monetary policy in order to keep growth in a "proper range," the official Xinhua news agency said, citing an official statement. That's raised hopes among some investors that Beijing will take more steps to support flagging growth in the world's No. 2 economy.

ANALYST VIEWPOINT: "The statements indicated that Beijing is concerned about allowing the economy slowing too much. They could suggest that we may only see a moderate GDP deceleration next year," said Bernard Aw of IG. However, "as a whole, risk appetite will not be in abundance today."

WALL STREET: Major U.S. benchmarks posted moderate gains in a quiet trading day, with the Dow Jones industrial average adding 0.7 per cent to close at 17,251.62. The Standard & Poor's 500 index rose 0.8 per cent to 2,021.15 and the Nasdaq composite rose 0.9 per cent to 4,968.92.

ENERGY: U.S. crude oil futures climbed 23 cents to $36.04 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 25 cents to settle at $35.81 a barrel on Monday. Brent crude, which is used to price international oils, was up 15 cents to $36.50 a barrel in London.

CURRENCIES: The euro slipped to $1.0917 from $1.0909 in the previous day's trading. The dollar rose to 121.23 yen from 121.10 yen.



Advertisements

Latest Economic News

  • U.S. economy expanded at weakest pace in 3 years in first quarter of 2017

    Economic CTV News
    WASHINGTON -- The U.S. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result fell far short of President Donald Trump's ambitious growth targets and underscores the challenges of accelerating economic expansion. Source
  • Montreal landlord fined after tenants rent out condo illegally

    Economic CTV News
    A Montreal landlord says he’s been fined more than $1,200 because the tenant living in his condo listed the space on Airbnb without his knowledge. Gerry Galiatsatos said his unit came with tenants when he purchased it less than a year ago. Source
  • Swedish cows in a great moooo-d as summer pastures open

    Economic CTV News
    DROTTNINGHOLM, Sweden -- Despite a cold wind and chilling temperatures, spring has come to Sweden. At least, spring for the milk cows. In an annual event that warms hearts across the country, "koslapp" -- the cow release -- has become a popular family outing for urban residents. Source
  • Trump to spend Day 100 in office talking trade

    Economic CTV News
    WASHINGTON -- U.S. President Donald Trump is marking his 100th day in office by talking tough on trade.Trump's first 100: Day-by-day highlights Analysis: We've read all President Trump's tweets, so you don't have to The White House says the president will sign an executive order Saturday that will direct his Commerce Department and the U.S. Source
  • Trump says he's brought 'profound change' to Washington

    Economic CTV News
    WASHINGTON -- U.S. President Donald Trump on Saturday marked his 100th day in office by saying he had brought "profound change" to Washington and reaffirming that "my only allegiance" is to those he governs.Trump's first 100: Day-by-day highlights Analysis: We've read all President Trump's tweets, so you don't have to During an evening trip to Pennsylvania, one of the states that propelled his unlikely election victory, Trump planned to sign an executive order directing the Commerce Department…
  • 'Not for the faint of heart': Why getting a marijuana producer licence is a long shot

    Economic CBC News
    The regulatory gates to Canada's legal marijuana regime are open, but only a crack. Health Canada has received 1,630 applications for licences to grow or sell medical cannabis as of March 31. Only 43 licences have been approved so far, representing just 2.6 per cent of the total applications. Source
  • Trump will zero in on trade agreements during 100th day

    Economic CTV News
    WASHINGTON -- U.S. President Donald Trump will spend his 100th day in office talking tough on trade in one of the states that delivered his unlikely win. The president is expected to sign an executive order Saturday that will direct his Commerce Department and the U.S. Source
  • B.C. leader could drag Canada into unwanted battle with U.S. on softwood: expert

    Economic CTV News
    BURNABY, B.C. -- A vow by British Columbia's Liberal leader to fight American tariffs on softwood lumber may force the federal government to wage an unwanted battle with the United States, an international trade expert says. Source
  • Hacker threatens to release stolen copies of Netflix series

    Economic CTV News
    SAN FRANCISCO -- A hacker claims to have stolen the upcoming season of Netflix's hit series "Orange Is The New Black," and is asking for an unspecified ransom to not release the entire fifth season online. Source
  • Hacker releases stolen copies of Netflix series

    Economic CTV News
    A hacker claims to have followed through on a threat to release several episodes from the upcoming season of Netflix's hit series "Orange Is The New Black." The hacker, which goes by the name The Dark Overlord, announced the move on Twitter early Saturday. Source