BEIJING (dpa-AFX) - The China stock market has finished higher in four straight sessions, collecting more than 75 points or 2.1 percent along the way. The Shanghai Composite Index now sits just above the 3,580-point plateau although it may be stuck in neutral on Wednesday.
The global forecast for the Asian markets offers little clarity as the markets figure to stagnate amidst a lack of catalysts. The European and U.S. markets were mixed and the Asian bourses are likely to follow that lead.
The SCI finished modestly higher on Tuesday following gains from the property, resource and energy stocks, while the financials were soft.
For the day, the index improved 22.07 points or 0.62 percent to finish at 3,581.86 after trading between 3,547.25 and 3,584.72. The Shenzhen Composite Index added 12.67 points or 0.58 percent to end at 2,188.95.
Among the actives, Industrial and Commercial Bank of China sank 1.30 percent, while Bank of China dropped 1.24 percent, Agricultural Bank of China retreated 1.45 percent, China Merchants Bank was up 0.20 percent, Bank of Communications slumped 1.00 percent, China Life Insurance rose 0.22 percent, Jiangxi Copper rallied 1.65 percent, Aluminum Corp of China (Chalco) accelerated 1.83 percent, Yankuang Energy surged 6.27 percent, PetroChina advanced 0.90 percent, China Petroleum and Chemical (Sinopec) and Poly Developments both jumped 1.86 percent, China Shenhua Energy soared 4.53 percent, Gemdale spiked 2.35 percent, China Vanke strengthened 1.52 percent and Huaneng Power was unchanged.
The lead from Wall Street is murky as the major averages opened on opposite sides of the unchanged line and finished the same way.
The Dow climbed 179.37 points or 0.40 percent to finish at 44,502.44, while the NASDAQ shed 81.49 points or 0.39 percent to close at 20,892.69 and the S&P 500 perked 4.02 points or 0.06 percent to end at a fresh record high of 6,309.62.
Profit taking contributed to the initial weakness on Wall Street after the NASDAQ and the S&P ended the previous session at record closing highs, while a negative reaction to earnings news also weighing on the markets.
Shares of General Motors (GM) plunged after the automaker reported Q2 earnings that exceeded estimates but were down sharply on year. Leading global security, defense and aerospace contractor Lockheed Martin (LMT) also tumbled on weaker than expected second quarter revenues.
Crude oil moved lower for a third straight session on Tuesday as continuing uncertainty on tariff negotiations between the U.S. and its trading partners has increased demand concerns. West Texas Intermediate crude closed down by $0.99 to settle at $66.21 per barrel.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
