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...
Japanese shares ended Monday higher, as Jerome Powell's dovish comments whetted risk appetite. Concerns that the yen will strengthen if the Federal Reserve cuts interest rates capped gains, however. The broader Topix Index rose 0.1% as of market close in Tokyo, with the Nikkei 225 gaining 0.4% after climbing as much as 1.3% in morning trade. Trading houses and machinery stocks lifted the Topix the most, while retail and IT shares dragged. "Powell's speech was dovish, removing the block for a September rate cut and boosting risk sentiment," said Anna Wu, a cross-asset investment...
Hong Kong shares surged 495 points or nearly 2% to 25,836 in Monday morning's deals, extending gains for the second session and hitting their highest level in almost four years. The rally followed Wall Street's advance on Friday after Fed Chair Jerome Powell signaled at Jackson Hole that rate cuts may be warranted amid a weakening labor market. Broad-based gains lifted the market, with the Hang Seng Tech Index climbing over 2.5% on renewed AI optimism after DeepSeek unveiled its upgraded V3 model, supported by domestic chips. Consumer, property, and financial stocks also climbed after...
Japan's Stocks Rise as Fed-Cut Bets, US-Share Rally Lift Mood Japanese stocks climbed Monday as a surge in US equities following Jerome Powell's dovish comments at a Federal Reserve gathering bolstered sentiment, outweighing concerns over a stronger yen. The broader Topix rose as much as 0.8% in early trade, with the blue-chip Nikkei 225 gaining as much as 1.2%. Tech, autos and trading houses lifted the Topix the most. The Dow Jones Industrial Average reached a record Friday after a speech by Powell led traders to boost wagers on an interest-rate cut as soon as next month. The...
Asia-Pacific rose Monday, tracking Wall Street gains after Federal Reserve Chair Jerome Powell signaled that the central bank could begin easing monetary policy next month in his widely anticipated annual speech in Jackson Hole, Wyoming. Japan's Nikkei 225 benchmark rose 1.08%, while the broader Topix index added 0.53%. In South Korea, the Kospi index increased by 0.75%, while the small-cap Kosdaq advanced 1.71%. Australia's S&P/ASX 200 benchmark climbed 0.87%. Futures for Hong Kong's Hang Seng index stood at 25,722, pointing to a stronger open compared with the HSI's last close of...
US stocks soared on Friday after Fed Chair Powell signaled the possibility of a September rate cut during his Jackson Hole speech, sparking the strongest cross-asset rally since April. The S&P 500 and Nasdaq climbed 1.5% and 1.9%, respectively, while the Dow Jones surged 846 points to a record intraday high. Speaking at the Fed's annual Jackson Hole Symposium, Powell noted that the shifting balance of risks in the economy "may warrant adjusting our policy stance," while cautioning that inflation pressures remain. Traders quickly ramped up bets on a 25 bps rate cut in September to...
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...