Treasury Secretary Scott Bessent expects a substantial drop in inflation during the first six months of 2026, according to statements made Tuesday on Fox Business. Bessent indicated that an announcement regarding President Trump's Federal Reserve chair selection would likely come in early January, with "one or two more Fed interviews" possibly taking place this week. When discussing potential candidates, Bessent noted that both Kevin Warsh and Kevin Hassett are "very very qualified" for the position. He rejected suggestions that Hassett would lack agency at the Federal Reserve, while...
Hong Kong stocks rose 191 points or 0.8% to 25,183 on Friday morning trade, rising for the first session in four after Wall Street's S&P 500 and Dow Jones closed at record highs overnight on stronger-than-expected U.S. Q2 GDP growth. Gains were broad-based, led by consumer, financial, and property shares. Trip.com climbed 3.8% after logging stronger revenues, while Ping An Insurance jumped 2.7% on plans to buy more equities, following increased allocations to high-dividend Hong Kong-listed banks earlier this year. Pharma stocks also outperformed, with Wuxi Biologics up 5.2%, followed...
Asia-Pacific markets traded mixed on Friday, breaking ranks from Wall Street gains as investors also assess a slate of economic data in the region. Japan's Nikkei 225 slid 0.31%, while the Topix lost 0.39% after core consumer prices in Tokyo rose at a slower pace in August. The Tokyo core CPI, which strips out fresh food but includes energy, climbed 2.5% from a year earlier, matching Reuters' economists' forecasts, and easing from July's 2.9% increase. The figure however remained above the Bank of Japan's 2% target. Japan's unemployment rate also eased to 2.3% in July, down from 2.5% the...
Japanese stocks may trade rangebound as uncertainty over the U.S. tariff impact on earnings continues. Nikkei futures are flat at 42920 on the SGX. USD/JPY is at 146.87, compared with 147.17 as of Thursday's Tokyo stock market close. Investors are focusing on Japanese economic data, including industrial production due later, as well as domestic politics. Consumer prices, excluding volatile fresh food, rose 2.5% from a year earlier for August in Tokyo, matching a 2.5% rise expected, government data showed earlier Friday. The Nikkei Stock Average rose 0.7% to 42828.79 on Thursday....
The S&P 500 notched a record high close on Thursday after Nvidia's quarterly report fell short of investors' high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong. Shares of Nvidia dipped as much as 2.9% after Sino-U.S. trade uncertainties prompted the leading AI chip designer to exclude potential China sales from its quarterly forecast late on Wednesday. Investors viewed Nvidia's report, including a 56% surge in quarterly revenue, as confirmation that demand related to AI technology remains strong, supporting a rally in...
European stocks closed mixed on Thursday as markets assessed key earnings results for the US tech sector and the outlook for global rates. The Eurozone's STOXX 50 inched above the flatline to close at 5,393 and the pan-European STOXX 600 dropped 0.2% to 554. Nvidia released earnings and revenues figures that were slightly ahead of expectations, but noted that demand in the sector is slowing to consolidate concerns that the AI-led rally in global tech stocks is unsustainable. European stocks with exposure to US chips manufacturers and AI companies were mixed, with ASML losing 1% while...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...