The Japanese yen weakened slightly during the Asian session on Wednesday, as investors remained cautious while awaiting the Bank of Japan (BoJ) policy update. Market focus now turns to the two-day BoJ meeting next Friday, which is expected to provide clues regarding the interest rate path through 2026. Expectations for a BoJ interest rate hike this week are believed to be a supportive factor for the JPY. Investors anticipate a hawkish BoJ stance could boost the yen or at least prevent further depreciation, although more cautious market sentiment has limited the currency's...
US stocks rebounded, with the three major indexes closing near record highs on Thursday (October 23rd). The S&P 500 rose 0.6%, the Dow Jones Industrial Average rose 0.3%, and the Nasdaq Composite added 0.9%. This was driven by upbeat corporate performance and the White House's announcement that President Trump will meet Chinese President Xi Jinping next Thursday in South Korea, alleviating concerns over US-China relations. Nvidia (1.1%), Amazon (1.2%), and Broadcom (1.2%) led the gains among technology stocks, while Oracle rose 2.5%. Honeywell and American Airlines jumped 6.8% and 7.2%...
European stocks closed in positive territory on Thursday as investors pored over earnings reports for clues about business activity and confidence in the region. The pan-European Stoxx 600 index closed the session up 0.4%. The UK's FTSE 100 index rose 0.7%, France's CAC 4 gained 0.2%, and Italy's FTSE MIB also posted a 0.4% gain. Germany's DAX index also edged higher, closing up 0.3%. It was a busy day for earnings reports in Europe, with Kering, Roche Holding, Unilever, Vinci, Thales, LSEG, Dassault Systemes, Antofagasta, Swedbank, Nokia, and Lloyds Banking Group among the big names...
The Hang Seng rose 186 points, or 0.7%, to close at 25,968 on Thursday, reversing early declines as sentiment improved following reports that the U.S. and China will hold another round of high-level trade talks this weekend at the 47th ASEAN Summit. Markets also rebounded from steep losses the previous day, as traders awaited a communique from China's fourth plenum, which may outline the government's economic, political, and social agenda, including five-year development plans. Investors largely shrugged off reports that Washington could impose broad export restrictions on China in...
European stocks rallied on Thursday, driven by the energy sector and mixed results from major companies. The Stoxx Europe 600 Index rose 0.2% in early London trading, with energy stocks leading the gains after Brent oil prices jumped 4%. This surge came after the United States imposed sanctions on two Russian oil giants, Rosneft and Lukoil, for their perceived lack of commitment to peace in Ukraine. On the corporate side, Nokia surged 11% thanks to strong demand for its cloud and artificial intelligence services, while Volvo Cars soared 23% after posting above-expected profits. Conversely,...
Japanese stocks weakened on Thursday as new Prime Minister Sanae Takaichi prepared for challenging, major budget negotiations. The Nikkei 225 index fell 0.24%, or 94.09 points, to close at 38,814.56. The pressure arises as Japan must balance Takaichi's fiscal stimulus plan with its $550 billion investment obligation to the United States under the tariff agreement reached by her predecessor. If the funds are not disbursed before US President Donald Trump's term ends in January 2029, tariffs on Japanese goods could surge above 15%. To reduce the fiscal burden, Takaichi plans to partner with...
The Hang Seng Index opened lower by 63 points, or 0.24%, to 25,718, followed by the H-Share Index, which fell 0.34%, and the Technology Index, which fell 0.67%. This decline was driven by the decline in major technology stocks such as Tencent, Meituan, Xiaomi, JD.com, and Kuaishou, which all fell between 0.4% and 1%. Alibaba was the only major stock in this sector to remain stable. In the financial sector, stock movements were more mixed. HSBC Holdings and AIA Group recorded small gains of 0.1% and 0.2%, respectively, while Ping An and the Hong Kong Stock Exchange weakened slightly....
Asia-Pacific markets fell Thursday, tracking Wall Street's declines on concerns about U.S.-China trade relations. Trade fears resurfaced after Reuters reported Wednesday stateside that the Trump administration is considering curbs on exports to China that are made with U.S. software, citing a U.S. official and three people briefed by U.S. authorities. The sources said that the plan, which could cover a wide range of items from laptops to jet engines, might not move forward, however, and that it's not the only option that's being discussed. Japan's benchmark Nikkei 225 index retreated...
Japanese stocks are lower following their recent surge driven by hopes for newly elected Prime Minister Sanae Takaichi's economic measures. The market is also weighed by continuing U.S.-China trade tensions and new U.S. sanctions on Russian oil giants. Chip-related stocks are leading declines. Tokyo Electron Ltd. is down 3.8%, SoftBank Group is 3.2% lower and Renesas Electronics is down 3.6%. USD/JPY is at 152.13, compared with 151.80 as of Wednesday's Tokyo stock market close. Investors are closely watching any details of Takaichi's policy steps. The Nikkei Stock Average is down 1.4% at...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....