Gold prices strengthened as we entered the European session today, Wednesday (December 17th), holding around $4,320 per ounce and remaining close to October's record high of $4,381. This strengthening occurred after the market returned to seeking safe haven assets while awaiting the next major data from the US. The main drivers came from the US agenda: market participants were focused on Thursday's CPI inflation release and a series of comments from central bank officials. After the latest mixed employment data, the market didn't feel there was enough reason to aggressively increase...
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...
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...
Japanese stocks closed higher on Thursday, following a Wall Street rally driven by renewed buying in AI-related stocks. The Nikkei 225 rose 1.8%, or 845 points, to 48,580.44, signaling investors were more focused on corporate performance prospects and hopes for a Fed rate cut, although the ongoing earnings season will test that optimism. On a fundamental level, the Japan Economists Survey Index edged up to 47.1 in September, reflecting support from household demand that offset weakness in food and beverage production. On the corporate front, Hitachi Construction Machinery entered a...
Hong Kong stocks weakened on Thursday, signaling sluggish "golden week" holiday shopping in mainland China. The Hang Seng Index fell 1.1% to 26,521.75 as of 9:55 a.m. local time, while Hang Seng Tech shed 0.6%. On the mainland, markets reopened with the CSI 300 up 0.4% and the Shanghai Composite up 0.2%. The main highlight came from Hang Seng Bank, which surged 27% to HK$150.60—having soared as high as 41% earlier in the session—following HSBC's proposal to privatize the bank at HK$155 per share (a 30.3% premium). Among other movers, ZTO Express rose 1.9%, Li Auto +1.4%, Trip.com +1.2%, and...
Japanese stocks rose early in the session, with the Nikkei rising 0.7% to 48,069.81, led by technology and electronics stocks. A weaker yen helped ease concerns about the impact of US tariffs on exporters' earnings. Kioxia jumped 8.3%, SoftBank Group rose 4.5%, and Tokyo Electron added 1.4%. In the currency market, USD/JPY was at 152.60 (vs. 152.45 at Wednesday's close), confirming support for export-oriented stocks. Investors were also watching for potential policy moves by Sanae Takaichi after her election as the new LDP leader.(az) Source: Newsmaker.id
Asian stocks opened higher, following Wall Street's rally fueled by AI-fueled euphoria. The S&P 500 rose 0.6% and the Nasdaq 100 rose 1.2%. Japan and Australia led gains, while China's ADR rose 0.9% ahead of the mainland market's reopening after Golden Week. The yen was nearly flat after hitting its weakest level since February, fueling speculation of intervention. In commodities, gold fell slightly but remained above $4,000/oz due to profit-taking and easing safe-haven demand following signals of a Gaza peace plan. Oil also weakened amid focus on peace and US inventory data. US stock...
European stock markets rallied on Wednesday, with equities in France perfomring strongly despite ongoing political upheaval in the country. The pan-European Stoxx 600 index climbed 0.8%, while the DAX in Germany increased by 1%, and the FTSE 100 in the United Kingdom gained 0.7%. Sectors like industrials, basic resources, banks, and insurance outperformed. France's CAC 40, meanwhile, moved up 1.1%. The index has been volatile throughout the week, fueled by the surprise resignation of Prime Minister Sebastien Lecornu on Monday. The outgoing Lecornu, who is holding last-minute talks over...
The S&P 500 rose slightly on Wednesday, a day after it snapped a seven-day win streak because of a drop in Oracle that called to question the sustainability of the artificial intelligence trade. The government shutdown is also in its second week. The benchmark index climbed 0.1%, while the Nasdaq Composite advanced 0.4%. The Dow Jones Industrial Average fell 62 points, or 0.2%. Nvidia shares rose more than 1% after CEO Jensen Huang said that demand has risen in recent months, telling CNBC that "this year, particularly the last six months, demand of computing has gone up...
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....