The US dollar strengthened slightly and US Treasury bonds pared earlier gains after disappointing US jobs data proved insufficient to convince the market that the Fed would soon cut interest rates again. The dollar strengthened against G10 currencies, most notably against the yen, while the yield on the 10-year US Treasury note rose to around 4.17%. In commodity markets, the movement was much more violent. Oil prices rose about 1.3% after President Donald Trump ordered a blockade of tankers entering and leaving Venezuela, sparking supply concerns from the OPEC member. At the same time,...
The Nikkei index weakened 0.4% to 48,397.29 in early trading, following Wall Street's overnight decline that sparked risk-off sentiment. According to Commerzbank Research analysts, the market is still searching for new catalysts amid a lack of US data releases due to the government shutdown, so the short-term direction is likely cautious. Several stocks led the decline: SBI Holdings -3.6%, Sugi Holdings -3.3%, and Sumitomo Forestry -2.7%. In the forex market, USD/JPY was around 153.15 (vs. 153.08 in New York), indicating a persistently weak yen—a factor that typically helps exporters, but...
Asia-Pacific markets mostly weakened on Friday, following Wall Street's decline as investors assessed economic conditions. The Nikkei 225 fell 0.33% and the Topix fell 0.92%; Australia's ASX 200 fell 0.26%. Hang Seng futures signaled a lower open at 26,354 (vs. the previous close of 26,752.59). In Korea, the Kospi closed 0.66% after a holiday, while the Kosdaq fell 0.37%. In the US overnight, the rally paused as the S&P 500 and Nasdaq Composite retreated from intraday records. The general market index fell 0.28% to 6,735.11 and the tech index fell 0.08% to 23,024.63, while the Dow Jones...
US stocks pulled back on Thursday as investors paused to digest optimism around AI, interest-rate cuts, and the ongoing government shutdown. The S&P 500 lost 0.3%, the Nasdaq 100 down 0.1%, retreating from record highs reached in the prior session, and the Dow Jones fell 243 points. Market sentiments fell due to the shutdown, which has delayed key economic data, shifting focus to upcoming third-quarter earnings for insights into the economy and the AI-driven rally. Apple, Alphabet, Tesla, and Walmart all lost more than 0.7%, while PepsiCo rose 4.2% after stronger-than-expected revenue...
European stock markets were trading mostly lower on Thursday, as a privatization bid by HSBC for its Hong Kong-based subsidiary dragged down the wider banking sector in the region. The pan-European Stoxx 600 declined by 0.4% and the FTSE 100 in the United Kingdom shed 0.3%. HSBC, Europe's biggest lender, said it had put forward a proposal to shareholders that would make the entity, Hang Seng Bank, a "wholly owned subsidiary" of its Asia Pacific arm. Hang Seng, in which HSBC already has a 63% stake, would also be delisted from the Hong Kong Stock Exchange, the lender added. London-listed...
The S&P 500 and Nasdaq Composite reached new heights on Thursday as the market's march higher carries on. The broad market index hovered around the flatline, while the tech-heavy index dropped 0.2%. Both indexes had hit new all-time intraday highs earlier in the session. The Dow Jones Industrial Average climbed 50 points, or 0.1%. Costco shares gained 2% after the big-box retailer delivered solid September sales data, with total net sales for the five weeks ended Oct. 5 posting a notable increase versus last year. Delta Air Lines jumped 6% on better-than-expected earnings. The S&P...
European stocks held steady on Thursday after hitting new records the previous day, as investors awaited the latest news on the French political crisis. The Stoxx Europe 600 was virtually flat at 8:15 a.m. in London, while Germany's DAX edged up to another record. Mining and travel & leisure sectors led, while autos and banks lagged. In individual stocks, HSBC fell after proposing a takeover plan for Hang Seng Bank in Hong Kong, valuing the entity at around $37 billion. In Paris, the CAC 40 edged higher following President Emmanuel Macron's signal that he would appoint a new prime...
The Hang Seng lost 77 points or 0.3% to end at 26,752 on Thursday, declining for the fourth session as most sectors weakened. The financial index dropped 0.7% after reports that HSBC Holdings plans to buy out minority shareholders in its majority-owned Hang Seng Bank for about USD 13.6 billion. HSBC's Hong Kong-listed shares plunged 5.5%, while Hang Seng Bank surged 26%, with Citi analyst Andrew Coombs noting that investors were questioning "why now and at this price." Tech shares retreated as sentiment soured after China broadened its rare earth export controls, citing tech and military...
The Hang Seng lost 77 points or 0.3% to end at 26,752 on Thursday, declining for the fourth session as most sectors weakened. The financial index dropped 0.7% after reports that HSBC Holdings plans to buy out minority shareholders in its majority-owned Hang Seng Bank for about USD 13.6 billion. HSBC's Hong Kong-listed shares plunged 5.5%, while Hang Seng Bank surged 26%, with Citi analyst Andrew Coombs noting that investors were questioning "why now and at this price." Tech shares retreated as sentiment soured after China broadened its rare earth export controls, citing tech and military...
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....