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...
European stock markets closed higher on Friday, as investors continued to assess the full scope of the European Union's trade deal with America and hopes rose for a U.S. interest rate cut in September. The pan-European Stoxx 600 provisionally closed 0.47% higher, with top sectors including mining, autos and travel. London's FTSE 100 closed at a record high for the fourth session in a row, adding another 0.13% on Friday to clinch its best weekly performance since May. U.K. stocks have found support this week from gains in mining, retail and defensive stocks, along with Purchasing Managers'...