VIAC

ViacomCBS Inc.

29.58
USD
-17.81%
29.58
USD
-17.81%
27.84 101.97
52 weeks
52 weeks

Mkt Cap 17.95B

Shares Out 606.71M

Send me real-time posts from this site at my email

Higher Open Predicted For China Stock Market

(RTTNews) - The China stock market rebounded on Wednesday, one day after ending the three-day winning streak in which it had gained more than 60 points or 1.7 percent. The Shanghai Composite Index now rests just above the 3,105-point plateau and it's looking at another strong start for Thursday's trade. The global forecast for the Asian markets is positive, with technology, retail and energy stocks expected to lead the way higher. The European and U.S. markets were up and the Asian bourses are tipped to follow that lead. The SCI finished sharply higher on Wednesday following gains from the properties and energy and resource stocks, while the financials were mixed. For the day, the index advanced 36.54 points or 1.19 percent to finish at 3,107.46 after trading between 3,069.95 and 3,107.63. The Shenzhen Composite Index gained 22.40 points or1.17 percent to end at 1,944.88. Among the actives, Industrial and Commercial Bank of China fell 0.21 percent, while China Construction Bank collected 0.67 percent, China Merchants Bank shed 0.31 percent, China Life Insurance skidded 1.14 percent, Jiangxi Copper jumped 1.94 percent, Aluminum Corp of China (Chalco) advanced 0.81 percent, Yankuang Energy climbed 1.39 percent, PetroChina rallied 2.70 percent, China Petroleum and Chemical (Sinopec) strengthened 1.40 percent, Huaneng Power surged 5.48 percent, China Shenhua Energy accelerated 1.91 percent, Gemdale dropped 0.95 percent, Poly Developments perked 0.25 percent, China Vanke added 0.55 percent, China Fortune Land gained 0.89 percent, Beijing Capital Development was up 0.20 percent and Bank of China and Bank of Communications were unchanged. The lead from Wall Street is upbeat as the major averages opened fairly flat on Wednesday and showed little movement in the morning but accelerated into the close to end solidly higher. The Dow jumped 191.66 points or 0.60 percent to finish at 32,120.28, while the NASDAQ spiked 170.29 points or 1.51 percent to end at 11,434.74 and the S&P 500 gained 37.25 points or 0.95 percent to close at 3,978.73. The higher close on Wall Street came as the minutes of the latest Federal Reserve meeting offered few surprises, although the central bank indicated it intends to move expeditiously to a more neutral monetary policy stance. The shift toward a more neutral monetary policy stance comes as the Fed seeks to return inflation to its 2 percent goal while sustaining strong labor market conditions. In economic news, the Commerce Department showed new orders for durable goods increased by less than expected in April. Crude oil futures settled higher on Wednesday, lifted by tight supplies and expectations of higher demand during the summer driving season. West Texas Intermediate Crude oil futures for July gained $0.56 or 0.5 percent at $110.33 a barrel. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue