China’s shares bounce after 4-day rout, infrastructure leads gains

Shares in China rebounded on Tuesday following a heavy four-day selloff, as investors picked up battered stocks while infrastructure firms were bolstered by expectations of increased spending on public works projects.

The Shanghai Composite index jumped 74.14 points, or 2.7 percent, at 2,705.16.

The blue-chip CSI300 index was up 2.92 percent, its biggest percentage jump since August 2016.

Its financial sector sub-index rose 2.64 percent, the consumer staples sector gained 2.76 percent, the real estate index jumped 3.8 percent and the healthcare sub-index ended 1.85 percent higher.

Shares in healthcare and consumer firms have been hit hard in recent days amid a scandal over vaccines that has undermined consumer confidence, while property firms have suffered from expectations of measures to rein in property prices.

The smaller Shenzhen index ended up 2.75 percent and the start-up board ChiNext Composite index was higher by 2.68 percent. Despite Tuesday’s surge, the Shanghai stock index is down 16 percent this year, while the CSI300 has fallen 16.4 percent.

Source : Reuters

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Stocks pop at the open, and the Nasdaq tries to bounce off the mat after a 3-session drubbing

The Nasdaq Composite Index on Tuesday opened firmly higher Tuesday, as the technology-laden benchmark attempted to shake off three straight sessions of sharp losses sparked by disappointing quarterly updates from some of the most popular tech and internet-related companies.

The Nasdaq was up 0.7% at 7,683, the S&P 500 index rose 0.4% at 2,813, while the Dow Jones Industrial Average climbed 90 points, or 0.4%, at 25,398.

Tuesday’s early trading action comes after the Nasdaq put in its third straight drop, underpinned by weaker-than-expected outlooks and results from Netflix Inc. and Facebook Inc. with shares of both companies falling into bear-market territory, defined as a drop of at least 20% from a recent peak. That unraveling has rattled confidence in the so-called FAANG stocks, which includes Facebook, Amazon.com Inc. Apple Inc. Netflix and Google-parent Alphabet Inc. which have helped to drive the overall market higher.

Apple is slated to report its quarterly results after the end of regular trade Tuesday and investors are hoping that the Cupertino, Calif.-based iPhone maker will be able to drive the tech and internet-sector from out of its recent doldrums. Wall Street also will watch the start of the Federal Reserve’s two-day policy meeting, which kicks of later in the session. Investors also bought government bonds, as the Bank of Japan announced it would keep its ultra-easy monetary policy in place.

Source : Marketwatch

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European Stocks Rise as Autos Bounce on Report of Tariff Talks

European shares gained ground at the open as investors prepared for the Federal Reserve minutes to gauge signals about the pace of future rate increases, while the auto sector surged on a report of tariff talks between the U.S. and Europe.

The Stoxx Europe 600 Index was up 0.2 percent. Glencore Plc rose 2.5 percent after announcing it’ll buy back as much as $ 1 billion of its shares. A gauge for the automakers gained 2.4% after Handelsblatt reported the U.S. Ambassador to Germany told the country’s automakers he was asked by Washington to reach a solution between Berlin and Brussels on car tariffs.

Source : Bloomberg

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