European stocks bounced back on Monday, with the STOXX 50 and STOXX 600 closing about 0.5% higher at new records, boosted by a surge in defense stocks amid expectations of increased defense spending by European governments. European leaders meet in Paris today to discuss Russia's invasion of Ukraine and formulate a response after the U.S. signaled limits to its support for Ukraine. Meanwhile, U.S.-Russian negotiations on the Ukraine war are set to begin this week in Saudi Arabia, although uncertainty persists over Ukraine's participation, and European countries were not invited. Also,...
Asia-Pacific markets were set to open mixed Tuesday, a day after Chinese President Xi Jinping signaled support to the country's private sector and urged businesses to "show their "talents." Australia's S&P/ASX 200 was down 0.43%, ahead of the Reserve Bank of Australia's policy decision. Reuters estimates a 25-basis-point rate cut to 4.1%. The Australian dollar had strengthened 0.05% to 635 against the dollar. Japan's benchmark Nikkei 225 started the day 0.28% higher, while the broader Topix index advanced 0.37%. South Korea's Kospi was marginally higher, while the small-cap Kosdaq...
The Nikkei 225 Index gained 0.2%, surpassing 39,250, while the broader Topix Index added 0.15% to reach 2,770 on Tuesday, extending gains from the previous session as the yen halted its recent rally, easing pressure on domestic equities. On Monday, data revealed that Japan's economy grew by 0.7% quarter-on-quarter in the fourth quarter, up from 0.4% growth in the previous quarter and exceeding expectations of 0.3%. On an annualized basis, Japan's GDP expanded by 2.8% in Q4, in line with forecasts and accelerating from a 1.7% increase in Q3. However, investor sentiment remained cautious after...