Silver climbed above $48.3 per ounce on Monday, its highest level since April 2011, as the ongoing US government shutdown and expectations of further Federal Reserve rate cuts boosted demand for safe-haven assets. Lawmakers once again failed to secure a funding deal, halting key federal programs and delaying major data releases, including September's jobs report originally scheduled for Friday. Markets are now nearly fully pricing in a quarter-point Fed rate cut this month and another in December. Investors also await remarks from Fed Governor Stephen Miran on Wednesday and Chair Jerome...
US stocks were higher on Monday, with the S&P 500 up 0.3%, the Nasdaq gaining 0.5%, and the Dow Jones rising roughly 60 points, as AI-related partnerships continued to support investor sentiment. AMD shares soared more than 30% after the company reached a deal for OpenAI to deploy 6 gigawatts of AMD GPUs over multiple years, with AMD also issuing OpenAI a warrant for up to 160 million shares. Utilities, industrials, and tech were the top performing sectors while consumer staples and real estate lagged. Mega-cap stocks were mixed, with Microsoft (+0.8%), Alphabet (+0.8%), and Tesla...
The Hang Seng fell for the second straight session on Monday, dropping 183 points or 0.7% to finish at 26,958. Trading was subdued due to a cautious mood ahead of a local break in Hong Kong on Tuesday, while mainland markets were still closed for the Golden Week. Sentiment was also weighed by political risks in Europe, following reports of the French Prime Minister's abrupt resignation. The decline was broad-based, led by the tech and consumer sectors, which each dipped around 1%. Notable losers included Galaxy Ent. (-3.1%), Techtronic Inds. (-2.8%), and Trip.com (-2.3%). EV stocks also...
European stocks moved steadily at the start of the week, while the French CAC 40 index fell 0.7%. This decline occurred after President Emmanuel Macron appointed a new cabinet that remained largely unchanged. This decision drew strong criticism from opposition parties and raised market concerns about political stability in France. Pictet Asset Management analyst Christopher Dembik said the market may not be calm for long. He said the future of Macron's government appears uncertain. New elections are possible, although Macron could also delay major changes until his term ends in 2027. In...
The Nikkei 225 index closed up 4.8% to 47,944.76 on Monday (October 6), posting its biggest daily surge since April. The rise was led by heavy industry and electronics stocks, which benefited from expectations of new fiscal stimulus after Sanae Takaichi was named Japan's next Prime Minister. Market sentiment was boosted by hopes that Takaichi's pro-stimulus administration would support economic growth, while the Bank of Japan was expected to delay interest rate hikes. Stocks such as Mitsubishi Heavy Industries and Tokyo Electron recorded significant surges. In addition to domestic...
The political deadlock in Washington has shaken the Hong Kong stock market. The Hang Seng Index fell 0.6% this morning to 26,976.92, driven by concerns about the US government shutdown, which has triggered a flight to safe havens like gold. The pressure was even deeper in the technology sector, with Hang Seng Tech falling 1.5%. Major stocks like SMIC, Kuaishou, Li Auto, and BYD all fell by more than 3%. On the other hand, safe haven stocks shone. Zijin Mining, a giant gold miner, jumped 4% as gold continued to be sought amid US uncertainty. Tencent and Meituan also managed to gain some...
Asian stocks surged to new highs, led by Japan's Nikkei 225, which surged more than 4% following the election of pro-stimulus lawmaker Sanae Takaichi as the next prime minister. This unexpected political shift boosted investor optimism, fueling gains across the region and pushing the MSCI Asia stock index to a record high. Meanwhile, the Japanese yen weakened sharply against the US dollar and the euro, sliding toward the psychologically key 150-dollar level as concerns about a delay in the Bank of Japan's interest rate hike intensified.Gold continued its strong rally, rising above $3,900 an...
Japanese stocks surged nearly 3% in early trading Monday after pro-stimulus politician Sanae Takaichi won the Liberal Democratic Party leadership election. This victory paves the way for Takaichi to become Japan's first female prime minister and fueled market optimism over the potential for increased fiscal spending and economic stimulus. The yen weakened 1.2% against the dollar, approaching the 150 level—a key psychological point for the foreign exchange market. Meanwhile, Japanese bond yields are expected to rise due to expectations of increased debt issuance under Takaichi's leadership....
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....